This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Asia-Pacific equities mostly leap
On Wednesday, stock indices of the Asia-Pacific region generally gained following mixed signals from Wall Street, while soaring commodity prices backed equities of commodity companies.
Nevertheless, worries about global trade wars remain. Traders are also concerned over Italy's debt. Additionally, the new leaders of Italy told that they are on the verge of increasing spending and cutting taxes. They’re reluctant to stick with austerity policies to control Italy’s debt.
As for the Australian market, it’s moving forward, reflecting the ascend in mining as well as crude stocks. Banking equities went down. Greater than anticipated, GDP surge in Australia also backed investor sentiment.
Meanwhile, in the banking space, equities of Westpac, Commonwealth Bank as well as National Australia Bank headed south, fluctuating in the rage 0.2%-0.8%.
Besides this, ANZ Banking stocks dived by 0.2% right after the Australian Competition and Consumer Credit Commission officially confirmed that ANZ Banking, Citigroup and Deutsche Bank are accused of criminal cartel violations having to do with the placement of equities in August 2015.
The key mining companies managed to grow, underpinned by the leap in prices for iron ore. In addition to this, equities of BHP Billiton as well as Rio Tinto ascended more than 2%, while Fortescue Metals gained more than 1%.
The Japanese market tacked on, although at a weak tempo. Among the major exporters, equities of Sony and Panasonic jumped by more than 1%, while Mitsubishi Electric slumped by more than 1%. Furthermore, Canon lost up to 0.3%.
Toyota managed to ramp up its capitalization by about 1%. On the contrary, Honda lost 0.1% of the value of its stocks.
Sharp Corp made up its mind to buy Toshiba's personal computers for Y4 billion. In addition to this, Sharp equities rallied by 1%, while Toshiba gained approximately 0.3%.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!