This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Asia-Pacific stocks demonstrate non-directional manner
On Monday, stock indices of the Asia-Pacific region traded in rather a non-directional manner in the face of cautious deals after weak trading on Wall Street on Friday as well as geopolitical tensions after a missile strike by the United States along with its allies in Syria. On Saturday, a group of Western countries, including France, America and the UK dared to launch about 105 rockets to destroy three power facilities in Syria. It was a response to the hypothetical employment of chemical weapons in this Middle East country.
Nevertheless, higher commodity prices underpinned shares of mining companies. As for crude prices, they headed south in Asia trade having soared on Friday.
The Australian market is moderately growing in the course of cautious trade because higher commodity prices helped to compensate weak Wall Street signals on Friday, as well as worries about geopolitical tensions after the attacks by America and its allies on Syria.
Shares of BHP Billiton gained more than 1%. Besides this, Rio Tinto acquired nearly 1%, while Fortescue Metals soared by 0.4% versus the backdrop of rising prices for iron ore.
The market value of crude companies is gaining momentum too after the previous week crude prices demonstrated the biggest increase for nearly a year. Oil Search and Woodside Petroleum ramped up their capitalization by more than 1% each, Santos increased it by nearly 1%.
In the banking sector ANZ Banking, National Australia Bank, Commonwealth Bank as well as Westpac- traded with surge in the range of 0.1% - 0.6%.
The main Japanese exporters traded in different directions. For example, Sony shares went up by almost 1%, and Canon - by 0.4%, while Mitsubishi Electric's papers dived by almost 1%, and Panasonic – by 0.1%.
In the technical space, Advantest equities dived by nearly 1%, while Tokyo Electron went up by about 1%.
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!