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Forex Forum to Share, Discuss, Communicate and Trade Forex • Market Outlook by Capital Street FX
Page 62 of 66

Re: Market Outlook by Capital Street FX

PostPosted: Thu Jul 13, 2017 6:20 pm
by CSFX.Support
Daily Report on July 13, 2017



Asian shares advanced on Thursday after Fed Chair Janet Yellen’s comments supported the Dow Jones Industrial Average to hit a new all-time high in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan soared 1.2 percent to its highest since May 2015 following a jump on Wall Street. At the close in NYSE, the Dow Jones Industrial Average climbed 0.57%, the S&P 500 index soared 0.73%, and the NASDAQ Composite index surged 1.10%.

Hong Kong’s Hang Seng Index took off to reach the highest since July 2015 after adding 1 percent. A gauge of Chinese companies listed in Hong Kong gained 1.5 percent, while the Shanghai Composite Index edged 0.4 percent higher. Australia’s S&P/ASX 200 Index and South Korea’s Kospi Index were also on sharp rises with each advancing more than 1 percent. By contrast, Japan’s Topix index fell 0.1 percent.

The Canadian dollar continued to edge higher versus its American counterpart on Thursday after rallying more than 1 percent to C$1.2681 overnight – its strongest level since June 23rd 2016. The Bank of Canada on Wednesday hiked its interest rates by 25 basis points for the first time in roughly seven years. As the rate hike had already been expected by markets, the Loonie was actually supported by upbeat statement released by the central bank which supported the view of more hikes in coming months.

Meanwhile, the dollar lost ground against most of its peers following the Federal Reserve’s Chair Janet Yellen’s semiannual appearance before Congress on Wednesday. Yellen expressed confidence in the U.S. economy but also signaled that monetary tightening won’t be more than gradual given low inflation growth.



Technicals

EURUSD



As can be seen from the price chart, EURUSD has been supported by two moving averages that are lingering below the price action. The pair fell to as low as 1.13900 after falling from a resistance at 1.14900 – the highest level since early May 2016. With RSI heading higher which indicates a strengthening bullish trend, the pair is expected to retest this level.

Trade suggestion

Buy Stop at 1.14400, Take profit at 1.14900, Stop loss at 1.14200



NZDUSD




NZDUSD has officially escaped the restraint of two MAs. The price action broke above these moving averages in early trade on Thursday and is heading higher to test a firm resistance at 0.73400. Both indices are confirming the uptrend with RSI index edging higher while ADX index witnessing a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 0.72900, Take profit at 0.73400, Stop loss at 0.72700



COPPER




Copper resumed its uptrend following a short correction from as high as 2.6974 with its price action remaining to be above both the short-term MA20 and the long-term MA50. Further advances to a resistance at 2.7160 are expected as all indices are supporting the price. While RSI is heading upwards, ADX index is witnessing its +DI line edging higher.

Trade suggestion

Buy Stop at 2.6900, Take profit at 2.7160, Stop loss at 2.6780



NASDAQ 100




Nasdaq 100 index has been tracing a sharp uptrend which brought the pair above a firm resistance at 5770.00 and also sent the market into the overbought zone. With ADX index soaring strongly, which showed a dominating bullish force in the market, the stock benchmark index may retest a resistance at 5840.00 – the highest level since June 26th.

Trade suggestion

Buy Stop at 5800.00, Take profit at 5840.00, Stop loss at 5780.00





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Natural Gas Trades Higher, Boosted by Less-than-expected U.S. Storage Data

U.S. natural gas futures advanced on Thursday, boosted higher than a weekly report showing natural gas supplies in storage in the U.S. rose less than expected last week.

Natural gas for delivery in August added nearly 0.9 percent on the New York Mercantile Exchange to trade around $3.0010 in North American trade on Thursday.

Data released by the U.S. Energy Information Administration showed that natural gas storage in the U.S. rose by 57 billion cubic feet in the week ending on July 7. This was below analysts’ forecast for an increase of 59 billion.

According to the report, total stocks now stand at 2.945 trillion cubic feet, down 289 billion cubic feet from a year ago, but 172 billion cubic feet above the five-year average.

Trade suggestion

Sell Stop at 3.0100, Take profit at 3.0400, Stop loss at 3.000

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


**************************************************

Supported by BOC’s Rate Hike, Loonie Extends Rally Versus Dollar After Yellen’s Dovish Comments

The Canadian dollar continued to edge higher versus its American counterpart on Thursday after having taken off in the previous session. The pair USDCAD tumbled to nearly-thirteen-month lows after the BOC raised interest rates while Fed Chair Yellen did not sound as hawkish as expected.

The Loonie added nearly 0.1 percent to trade around C$1.2741 in Asian morning session after rallying more than 1 percent to C$1.2681 overnight – its strongest level since June 23rd 2016.

The Bank of Canada on Wednesday hiked its interest rates by 25 basis points for the first time in roughly seven years. As the rate hike had already been expected by markets, the Loonie was actually supported by upbeat statement released by the central bank which supported the view of more hikes in coming months.

According to data from the overnight index swaps market, there is a greater than 80 percent chance of another rate increase by December.

Meanwhile, the dollar lost ground against most of its peers following the Federal Reserve’s Chair Janet Yellen’s semiannual appearance before Congress on Wednesday. Yellen expressed confidence in the U.S. economy but also signaled that monetary tightening won’t be more than gradual given low inflation growth. Yellen’s comments echoed her colleague – Federal Reserve Governor Lael Brainard’s view.

Brainard on Tuesday said she wanted to “monitor inflation developments carefully” and that the Fed’s current policy rate was not far from its neutral level. The Fed official claimed that further increases in the federal funds rate should be considered cautiously in order not to restrain inflation growth.

Trade suggestion

Sell Stop at 1.27300, Take profit at 1.26800, Stop loss at 1.27500

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


*******************************************

EUR/AUD

From GMT 07:40 13/07/2017
Till GMT 21:00 13/07/2017

Sell at 1.48000
Take profit at 1.47000
Stop loss at 1.48500

Re: Market Outlook by Capital Street FX

PostPosted: Fri Jul 14, 2017 5:48 pm
by CSFX.Support
Daily Report on July 14th, 2017



Asian shares extended their upbeat moves on Friday, looking set to end the week on a high note after the Dow Jones Industrial Average reached a fresh all-time record high. U.S. stocks closed higher on Thursday thanks to dovish comments from Federal Reserve Chair Janet Yellen who reiterated her intention to tighten only gradually as inflation remains persistently below target.

The MSCI Asia Pacific Index added 0.2 percent in the last trading session of the week, contributing to a weekly advance of 2.5 percent. Shares in Japan were also on a rise with the Nikkei 225 edging 0.2 percent while Japan’s Topix index jumping 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi rose 0.5 percent and 0.2 percent, respectively.

By contrast, Hong Kong’s Hang Seng retreated 0.1 percent after its 3.9 percent surge on the week, the Shanghai Composite Index dropped 0.2 percent and the Shenzhen Composite Index dropped nearly 0.3 percent.

Investors were waiting for major U.S. banks to start reporting quarterly results on Friday. Some of the fund's top holdings namely JPMorgan Chase & Co, Citigroup Inc and Wells Fargo & Co are scheduled to report their second-quarter earnings results on Friday while others, including Goldman Sachs Group Inc, Morgan Stanley and Bank of America Corp are due to post results next week.



Technicals

AUDNZD



AUDNZD has been trading sideways above a support at 1.05500 since July 12th. The pair, however, has been supported by two MAs which are lingering below the price action, especially the short-term MA20. Further advances are expected given the RSI index that is heading upwards which shows a strengthening upward trend.

Trade suggestion

Buy Stop at 1.05800, Take profit at 1.06300, Stop loss at 1.05600



AUDCAD



AUDCAD rebounded from as low as 0.98250 - the firm support that forced the pair to reverse higher one week ago. The short-term MA20 has crossed over long-term MA50 from below, which suggests a reversal into an uptrend. Both RSI and ADX index are pointing upwards, signaling further advances. A resistance at 61.8% Fibonacci retracement is within the trend.

Trade suggestion

Buy Stop at 0.98700, Take profit at 0.99100, Stop loss at 0.98500



Natural Gas



Natural has fallen into a consolidation after having hit a support at 2.9500. The commodity had to rebound higher after facing this level in early-July. However, RSI remained below 50, indicating a market dominated by sellers. In the event of continual downtrend, a support at 2.8800 is expected to be tested.

Trade suggestion

Sell Stop at 2.9500, Take profit at 2.8800, Stop loss at 2.9800



DAX 30 Index



Germany’s DAX 30 index has fallen into a period of correction following sharp moves on Wednesday. The price action surged above the long-term M50 and also surpassed a resistance at 12540.00. RSI index has been standing on the verge of falling into the overbought zone. With a strong bullish force the index is expected to edge higher to test another resistance at 12750.00.

Trade suggestion

Buy Stop at 12660.00, Take profit at 12750.00, Stop loss at 12620.00



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Sterling Jumps Above 1.3000 After U.S. Data Fall Below Expectations

The British Pound soared to nearly ten-month highs versus the dollar on Friday, supported by hawkish comments from a BOE official. Meanwhile, the greenback traded lower after a pair of data releases disappointed markets.

The pair GBPUSD added more than 1.0 percent in the last session of the week to trade above $1.3000 for the first time since September 22nd, 2016. Sterling extended recent gains on the back of comments from Bank of England policy maker Ian McCafferty. The BOE policy maker claimed that the central bank should unwind its 435 billion pound quantitative easing program earlier than planned given strong jobs data and 42-year-low unemployment rate.

By contrast, the dollar lost ground versus most of its peers, continuing to slide further after downbeat inflation and retail sales data. The U.S. Bureau of Labor Statistics on Friday reported that the consumer price index was unchanged in June. Analysts had expected for a rise of 0.1%. On a yearly basis, the rate of inflation slowed to 1.6% in June (the smallest gain since October 2016) from 1.9% in the prior month.

Meanwhile, data on retail sales were reported to unexpectedly fall 0.2% last month following a decline of 0.3 percent in May.

Trade suggestion

Buy Stop at 1.30700, Take profit at 1.31200, Stop loss at 1.30500

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


*******************************************

U.S. Shares Edge HIgher but Financial Sector Caps Gains Following Earnings Results

U.S. shares were mostly higher on Friday except for stocks of major banks which turned sharply lower after some of the nation’s biggest banks second-quarter earnings results.

The stock benchmark S&P 500 index added more than 0.2 percent to trade at 2450.00 in the morning session on Friday with ten out of eleven sectors trading higher. Real estate and utilities shares led gains, advancing 0.99% and 0.63%, respectively.

Financial shares capped the overall performance. The banking sector dropped more than 0.9 percent with equities of Morgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. C losing at least 1 percent. Although second-quarter results mostly beat Wall Street expectations, bank officials pointed to weakness in areas including trading of bonds and stocks.

Trade suggestion

Buy Stop at 2452.00, Take profit at 2460.00, Stop loss at 2448.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


********************************************

EUR/CHF

From GMT 10:00 14/07/2017
Till GMT 21:00 14/07/2017

Buy at 1.10700
Take profit at 1.11100
Stop loss at 1.10500

Re: Market Outlook by Capital Street FX

PostPosted: Mon Jul 17, 2017 6:01 pm
by CSFX.Support

Daily Report on July 17, 2017




Asian shares surged strongly on Monday, setting a fresh two-year record high after the releases of better-than-expected data from China. Besides, stock markets were also boosted by bets that lackluster U.S. data will restrain the Federal Reserve from aggressively raising its interest rates. While Japanese markets were closed for a holiday, the MSCI Asia Pacific Index jumped 0.4 percent after a rise of 3.1percent last week.

Australian shares reversed losses, adding 0.1 percent after having started the day in negative territory. . South Korea’s Kospi jumped 0.4 percent and Hong Kong’s Hang Seng Index climbed 0.6 percent. Boosted higher by upbeat economic data, the CSI 300 was 0.2 percent higher, after slumping as much as 2.2 percent earlier. The Shanghai Composite also narrowed earlier losses to 0.1 percent after plunging by as much as 2.6 percent earlier.

According to the National Bureau of Statistics, China’s economy grew 6.9 percent in the second quarter compared to one year ago. Although remaining at the same year-on-year growth rate, China’s GDP picked up to 1.7 percent on a quarterly basis, from 1.3 percent in the first quarter. China’s retail sales were reported to rise 11.0 percent in June from a year earlier, the fastest pace since December 2015. The reading beat analysts' expectations for a 10.6 percent rise.

While industrial output rose 7.6 percent in June from a year earlier, the Fixed-asset investment climbed 8.6 percent in the first half of this year. Both data topped markets’ expectations.

Crude oil prices inched higher on Monday with West Texas Intermediate crude advancing 0.2 percent to $46.64 a barrel, heading for a sixth day of gains. The energy services company Baker Hughes last Friday reported that U.S. drillers added two oil rigs in the week to July 14, which brings the total count up to 765, the most since April 2015.



Technicals

AUDNZD




AUDNZD has been trading sideways after a sharp surge above the 38.2% Fibonacci retracement. The pair, however, is likely to edge higher to test a resistance at 50.0% Fibonacci level. While the RSI index has soared to as high as 72.89 and fell into the overbought zone, the ADX index continues to be on a rise which indicates a strong uptrend.

Trade suggestion

Buy Stop at 1.06600, Take profit at 1.07000, Stop loss at 1.06400



EURGBP



EURGBP has been struggling around the level 0.87500 after having fallen from as high as 0.89500. The short-term MA20 has converged with the long-term MA50, confirming the downtrend. The RSI is at 29.51, showing a dominating selling force in the market. A support at 23.6% Fibonacci retracement is in the sight.

Trade suggestion

Sell Stop at 0.87500, Take profit at 0.87000, Stop loss at 0.87700



COPPER



Copper retreated a little bit after having retested a three-month high at 2.7173. With the support from two MAs which are hanging below the price action, copper price is anticipated to reverse higher to test a resistance at 2.7150. Both ADX and RSI indices are hiking, confirming the signal for further upbeat moves.

Trade suggestion

Buy Stop at 2.7150, Take profit at 2.7450, Stop loss at 2.7000



Natural Gas



Natural Gas futures prices extended gains after surpassing a dynamic resistance at the short-term MA20. The commodity is heading towards a firm resistance at 38.2% Fibonacci retracement. While the RSI is pointing higher, ADX index is witnessing a widening gap between the +DI and –DI lines.

Trade suggestion

Buy Stop at 3.0050, Take profit at 3.0450, Stop loss at 2.0850




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Shares of BlackRock Decline After Downbeat Q2 Earnings Report

Shares of BlackRock Inc. tumbled more than 3 percent in premarket trade on Monday after the firm reported second quarter earnings and revenue that missed analysts’ expectations.

BlackRock shares dropped 3.27% to trade around $424.00 per share on Monday following a gain of 0.11% after the close on Friday. The world’s largest asset manager posted second quarter earnings per share of $5.24 on revenue of $2.965 billion after excluding non-recurring items. That missed forecast for EPS of $5.39 on revenue of $3.02 billion.

Net profit was reported to advance to $857 million, or $5.22 a share, from $789 million, or $4.73 a share, in the same period a year ago while the firm’s assets under management rose 16% on a yearly basis to $5.689 trillion, topping analyst expectations.

Trade suggestion

Sell Stop at 424.00, Take profit at 420.00, Stop loss at 426.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


***************************************

AUD/USD

From GMT 11:30 17/07/2017
Till GMT 21:00 17/07/2017

Buy at 0.78300
Take profit at 0.78900
Stop loss at 0.78000

Re: Market Outlook by Capital Street FX

PostPosted: Tue Jul 18, 2017 6:32 pm
by CSFX.Support

Daily Report on July 18, 2017



European shares dropped on Tuesday, dragged down by a strengthening euro that soared steeply to a 14-month high against the U.S. dollar while disappointing corporate earnings reports weighed on shares of Ericsson and Lufthansa. The Stoxx Europe 600 shed 0.4 percent with only the health care sector trading higher. In Frankfurt, DAX 30 index lost 0.51%, while France’s CAC 40 index was down nearly 0.3%.

Shares of Ericsson tumbled nearly 11 percent on Tuesday after the Stockholm-based company reported a bigger-than-expected net loss of 1.01 billion Swedish kronor ($122.3 million) in the second quarter. The Swedish telecom-equipment maker also warned that earnings could weaken further as the market continues to struggle.

According to the Office for National Statistics, the UK's inflation rate unexpectedly slowed to 2.6 percent in June after having hit a near four-year high at 2.9 percent in May, a near four-year high. The pound reversed gains versus the dollar in response to the figures as markets were expecting that a further increase in the inflation rate might raise the possibility of the BOE’s policy makers raising the benchmark interest rate from a record low of 0.25%.

The Aussie surged as much as 1.3 percent against the greenback to jump above 79 U.S. cents - its highest level since May 2015.The Reserve Bank of Australia published the minutes of its July policy meeting on Tuesday which showed the central bank were more optimistic about the jobs market and economy growth of Australia. According to the minutes, the RBA expected quarterly growth to have increased in the second quarter while said that the stronger labor market removes “some of the downside risk” to its wage-growth forecasts.



Technicals

EURUSD



EURUSD has been tracing an uptrend which sent the pair to 14-month highs on Tuesday. The pair breached a resistance at 1.14900 and is heading towards the highest level since May 02, 2016. Both RSI and ADX indices are heading higher, which indicates a strengthening bullish momentum in the market.

Trade suggestion

Buy Stop at 1.15600, Take profit at 1.16000, Stop loss at 1.15400



EURGBP


EURGBP rebounded from a firm support at 0.87450 and has been soaring steeply since then. The pair did not only breach both short-term and long-term MAs but also surpassed a strong resistance at 0.88600. While RSI is rising, ADX index is pointing higher with a widening gap between +DI and –DI lines. The currency pair is expected to retest another firm resistance at 0.89400.

Trade suggestion

Buy Stop at 0.88800, Take profit at 0.89400, Stop loss at 0.88500



BRENT

As can be seen from the price chart, BRENT crude has been supported by two MAs that are lingering below the price action. The commodity price rebounded after hitting the short-term MA20. The commodity price may test a significant level at 50.000 with the market dominated by buyers, as indicate by RSI and ADX indices.

Trade suggestion

Buy Stop at 49.300, Take profit at 50.000, Stop loss at 49.000



DAX 30


Germany’s DAX 30 index gapped down on Tuesday, opening below the short-term MA20. The stock benchmark index extended its downtrend and brought its price action below the long-term MA50 as well. While RSI index is pointing lower, ADX index is on a rise, suggesting further down moves. A support at 12350.00 is within the sight.

Trade suggestion

Sell Stop at 12430.00, Take profit at 12350.00, Stop loss at 12470.00



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Netflix Passes the 100 Million Subscriber Milestone, Shares Jump More than 10%

Shares of Netflix Inc. took off by more than 10 percent in after-hours trading on Monday after the streaming giant reported better-than-expected subscriber growth in its second quarter.

Netflix witnessed its shares jump nearly 10.7 percent to trade at $178.98 per share as the company reported adding a second-quarter record 5.2 million subscribers. Netflix reported net income of $65.60 million, or 15 cents per share for the three-month period to June. That was well above the net income of $40.76 million, or 9 cents per share recorded during the year-earlier period.

Revenue for the quarter was reported to hit $2.79 billion, up from $2.11 billion during the same period a year ago. With 5.2 million subscribers added in the last three months (1.1 million domestic and 4.1 million international), Netflix passed the 100 million subscriber milestone. Analysts had forecast that Netflix would add only 631,000 subscribers in the U.S. and Canada and 2.6 million overseas.

Trade suggestion

Buy Stop at 179.00, Take profit at 182.00, Stop loss at 178.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


************************************************

The Aussie Targets the Level 80 U.S. cents After RBA’s July Meeting’s Minutes

Australian dollar extended gains versus its American counterpart after having surged steeply in Asian trading session on Tuesday. The Aussie was boosted higher following the release of the RBA’s latest meeting minutes.

The Aussie surged as much as 1.3 percent against the greenback to jump above 79 U.S. cents – its highest level since May 2015. The pair AUDUSD looks set to build on its rally and may surge to 80 U.S. cents, the strongest level in more than two years.

The Reserve Bank of Australia published the minutes of its July policy meeting on Tuesday which showed the central bank were more optimistic about the jobs market and economy growth of Australia. According to the minutes, the RBA expected quarterly growth to have increased in the second quarter while said that the stronger labor market removes “some of the downside risk” to its wage-growth forecasts.

Trade suggestion

Buy Stop at 0.79100, Take profit at 0.79500, Stop loss at 0.78900

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

Re: Market Outlook by Capital Street FX

PostPosted: Wed Jul 19, 2017 5:47 pm
by CSFX.Support
Daily Report on July 19, 2017



Asian share were mostly higher on Wednesday while European stock markets gained ground as the euro retreated. Asian equities were supported by investors’ optimism about China's ongoing economic transition with Chinese shares leading in Asia. Shanghai Composite Index jumped 1.4 percent and Hong Kong’s Hang Seng Index edged 0.6 percent higher.

Japan’s Topix Index swung between gains and losses, closing marginally higher on Wednesday ahead of the Bank of Japan’s monetary policy decision which is due on Thursday. The Nikkei225 added 0.1 percent. Australia’s S&P/ASX 200 Index rose 0.8 percent as bank shares climbed.

The Stoxx Europe 600 gained 0.4 percent following a decline of 1.1 percent in the previous session thanks to a weak euro that inched lower ahead of the European Central Bank’s policy statements due Thursday.

According to data released by the Commerce Department on Wednesday, the U.S. housing starts jumped 8.3 percent in June to a seasonally adjusted annual rate of 1.22 million units. On a yearly basis, housing starts advanced by 2.1 percent last month compared to one year ago.



Technicals

GBPAUD



GBPAUD retested a support at 1.64000 – the three-and-a-half-month low recorded yesterday. The pair fell into a correction but soon reversed lower as the market has been dominated by seller. RSI index has even fallen into the oversold zone. The pair is expected to test a support at 1.63400.

Trade suggestion

Sell Stop at 1.64000, Take profit at 1.63400, Stop loss at 1.64300.



SILVER




Silver futures prices have been tracing an uptrend with the support from two MAs that are lingering below the price action. The precious metal’s price surpassed a resistance at 16.200 and is heading towards a significant level at 61.8% Fibonacci level. The RSI index which is pointing upwards signals further advances.

Trade suggestion

Buy Stop at 16.330, Take profit at 16.500, Stop loss at 16.250



BRENT




As can be seen from the chart, Brent crude prices have been supported from two MAs that are lingering below the price action, especially the short-term MA20. RSI has been on rise, suggesting a strengthening bullish force in the market. A breakout from a resistance at 49.150 is expected.

Trade suggestion

Buy Stop at 49.150, Take profit at 49.850, Stop loss at 48.800



Dow Jones


U.S. Dow Jones index has been moving sideways above a firm support at 21540.00 after falling to as low as 21461.00. RSI index is moving around the 50 level but the stock index looked set to trade higher with support from the long-term MA50. The all-time record high logged on July 14th is expected to be tested.

Trade suggestion

Buy Stop at 21580.00, Take profit at 21660.00, Stop loss at 21540.00


***********************************************

Morgan Stanley Shares Advance After Upbeat Q2 Earnings Report

Shares of Morgan Stanley jumped more than 2 percent in per-market trading on Wednesday after the U.S. bank reported second-quarter earnings results that beat expectations. The company was the last of the five biggest U.S. banks to report results for the three-month period ending June.

Morgan Stanley posted reported net revenues of $9.5 billion in the June quarter, up from $8.9 billion recorded one year ago and topping analysts’ forecast for $9.1 billion of revenue. Earnings per share hit 87 cents, compared with 75 cents per share in the year-ago quarter. That beat estimate of 76 cents per share.

Although sales and trading declined to $3.2 billion from $3.3 billion in the same quarter in 2016, revenues from institutional securities, wealth management, and investment management were all higher than a year ago.

Trade suggestion

Buy Stop at 46.30, Take profit at 47.00, Stop loss at 46.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


****************************************

Shares of CSX Reverse Gains As FY 2017 Guidance Falls Short of Expectations

Shares of CSX Corp. lost more than 4.0 percent in the extended session on Tuesday although the railroad operator reported quarterly results above expectations as well as expanded its share buyback program.

CSX shares reversed gains, shedding 4.17% to trade at $52.36 after having soared 3.1% to $56.32 after hours. The company reported adjusted second-quarter earnings of 64 cents a share on revenue of $2.93 billion, which was higher than analysts’ forecast for earnings of 59 cents a share on revenue of $2.85 billion. CSX also announced that its share repurchase authorization had been added another $500 million to $1.5 billion in total.

However, CSX’s guidance for the full year fell short of analyst expectations. The company expects earnings growth for the fiscal year 2017 of around 25% from 2016, which is below analysts’ expectation for full-year EPS of $2.31, 28% above the $1.81 the railroad reported for 2016.

Trade suggestion

Sell Stop at 52.30, Take profit at 51.90, Stop loss at 52.50

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


*************************************************

EUR/AUD

From GMT 09:00 19/07/2017
Till GMT 21:00 19/07/2017

Sell at 1.45500
Take profit at 1.44700
Stop loss at 1.45900

Re: Market Outlook by Capital Street FX

PostPosted: Thu Jul 20, 2017 6:14 pm
by CSFX.Support

Daily Report on July 20th, 2017




Asian shares advanced for a ninth straight session on Thursday, bolstered by fresh all-time highs for U.S. equities. While U.S. stocks surged to new records on strong U.S. corporate earnings after the close on Wednesday, the Bank of Japan on Thursday decided to maintain its mega monetary stimulus. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.15 percent, trading near its highest level since December 2007.

The Bank of Japan kept its monetary policy steady as widely expected, maintaining the 0.1 percent interest it charges on a portion of excess reserves that financial institutions park at the central bank. The Japanese central bank also pushed back again the timing for achieving its 2 percent inflation target, as it cut price forecasts until fiscal year 2020. The yen retreated versus the dollar, lifting Japanese shares higher.

Indeed, Japan’s Topix index rose 0.7 percent while the Nikkei 225 added 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea's KOSPI index climbed 0.6 percent and 0.1 percent, respectively. Hong Kong’s the Hang Seng Index jumped 0.3 percent, while the Shanghai Composite Index was little changed.

Crude oil prices struggled for direction on Thursday following a jump to a two-week peak on Wednesday. Oil prices jumped more than 1 percent in the previous session after the Energy Information Administration (EIA) reported a bigger-than-expected weekly draw in crude and gasoline inventories in the United States. According to the report, U.S. crude stocks fell 4.7 million barrels during the week ended July 14th, exceeding estimates for a 3.2 million draw forecast by economists.



Technicals

EURNZD



EURNZD rebounded after falling under the 61.8% Fibonacci retracement. The pair crossed over this significant level again and is facing a pair of moving averages. While the +DI line has penetrated the –DI line from below, signaling a strengthening bullish momentum in the market, RSI index also surpassed the 50 line, suggesting further advances.

Trade suggestion

Buy Stop at 1.57000, Take profit at 1.58000, Stop loss at 1.56500



WTI


U.S. crude prices has been moving sideways around a two-week high at a significant level at 47.200 – the level at which the commodity had to reverse lower in early-July. With support from two MAs which are hanging below the price action, the benchmark crude price is expected to test a resistance at 48.000.

Trade suggestion

Buy Stop at 47.300, Take profit at 48.000, Stop loss at 47.000



DAX 30



Germany Dax 30 index has been tracing an uptrend since it rebounded from a low at 12380.00 logged on Tuesday. The price action has crossed over the long-term MA50 from below and is facing the short-term MA20. A breakout is expected as the bull is becoming stronger in the market. While RSI has inched higher the 50 line, ADX index is turning upward with a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 12530.00, Take profit at 12650.00, Stop loss at 12470.00



FTSE 100 Index



U.K. FTSE 100 Index gapped up on Thursday after sending its price action above a downtrend line which connected lower highs. The stock benchmark index escaped from the resistance with support from two MAs that are hanging below the price action. Both ADX and RSI are on a rise, signaling that the index may edge higher to test a resistance at 7480.00.

Trade suggestion

Buy Stop at 7445.00, Take profit at 7480.00, Stop loss at 7430.00


*******************************************

American Express Shares Inch Lower As Profit Declines


Shares of American Express Company turned lower in after-hours trading on Wednesday after the credit-card company reported better-than-expected earnings and sales but profit declined in the second quarter.

Shares of the company inched nearly 1.5 percent lower to US$84.65 per share in after-market trading. The card company posted second-quarter earnings of $1.3 billion, or $1.47 a share, up from $2 billion, or $2.10 a share, in the year-ago period. Analysts had expected per-share earnings of $1.43.

However, American Express witnessed profit plunged by 33 percent in the three-month period ending June 30th. The decline came after the company ended its business relationship with Costco while its expenses rose sharply as the card company spent heavily on rewards to woo customers, not to mention expenses on tax treatment and restructuring charges.

Trade suggestion

Sell Stop at 84.60, Take profit at 84.00, Stop loss at 84.90

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Q2 Earnings Fall to Reach Expectations, Shares of Philip Morris Lose 3 Percent


Shares of Philip Morris International Inc. lost nearly 3.0 percent on Thursday after the cigarette and tobacco company reported second-quarter earnings below expectations.

Shares of Philip Morris dropped 2.98 percent in pre-market trading after the New York-based company reported revenues of $19.32 billion. This was up from $19.04 billion a year ago but failed to hit analysts’ forecast for revenues of $20.07 billion. Cigarette shipment volumes were reported to decline by 7.5% in the second quarter.

On a per-share basis, the company said it had profit of $1.14, down from $1.15 a year ago and missing expectation for earnings per share of$1.23. Philip Morris cut its 2017 EPS outlook to a range from $4.78 to $4.93 from a range from $4.84 to $4.99 previously forecast.

Trade suggestion

Sell Stop at 118.00, Take profit at 116.00, Stop loss at 119.00

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EUR/CAD

FromGMT 10:00 20/07/2017
TillGMT 21:00 20/07/2017
Sell 1.44850
Sell at 1.44850
Take profit at 1.44350
Stop loss at 1.45100

Re: Market Outlook by Capital Street FX

PostPosted: Fri Jul 21, 2017 6:19 pm
by CSFX.Support

Daily Report on July 21, 2017




Asian shares pared their weekly gain on Friday with the MSCI's broadest index of Asia-Pacific shares outside Japan, which has gained about 5 percent in the past two weeks, retreating 0.2 percent in the last session of the week. Japanese shares also traded lower as the Yen gained ground versus a weak dollar. The Nikkei 225 slid 0.17 percent while the Topix index lost 0.3 percent

The South Korea’s Kospi index fluctuated, reversing earlier losses to gain 0.21 percent while other markets subdued. Hong Kong's Hang Seng Index declined 0.15 percent and the Shanghai Composite was off 0.21 percent. Australia’s S&P/ASX 200 Index even declined 0.5 percent. Only Shenzhen Composite gained 0.022 percent to trade just above the flat line.

The Australian dollar stumbled following a speech by Reserve Bank of Australia Deputy Governor Guy Debelle on Friday. The RBA Governor said that the central bank would not raise interest rates just because other central banks were doing so. The comments sent the Aussie 1 percent lower compared to a high of $0.7959 seen earlier in the session.

By contrast, the euro jumped to nearly two-year highs on Thursday on the back of comments from the chief of the European Central Bank. The ECB decided to hold its interest rates and asset purchases steady on Thursday. Mario Draghi, the head of the European Central Bank, said at a conference later in the day that tapering of the bank’s quantitative easing (QE) program will be on the table this autumn.



Technicals

USDCHF




USDCHF has been moving sideways after having fallen to as low as 0.95000 on Thursday. The pair has been under pressure from two MAs that are moving above the price action which may depress the price lower. RSI is at low level at 32.23, suggesting a dominating bullish force in the market. A support at 0.94600 is within the sight.

Trade suggestion

Sell Stop at 0.95000, Take profit at 0.94600, Stop loss at 0.95200



EURUSD




EURUSD rebounded from a period of consolidation in early trade. The Euro jumped to the highest level since August 21st, 2015, sending the market in the overbought zone. After the correction, the pair is expected to extend its uptrend to test a significant resistance at 1.17000 with support from two MAs lingering below the price action.

Trade suggestion

Buy Stop at 1.16500, Take profit at 1.17000, Stop loss at 1.16300



NZDUSD



NZDUSD broke out of a strong resistance at 0.73660 where the price had been retrained for one week. The pair jumped to the level has not been seen August 08, 2016 and is looking set to edge higher to the 100% Fibonacci retracement. While the RSI index is soaring, ADX index is witnessing a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 0.74300, Take profit at 0.74800, Stop loss at 0.74100



GOLD



Gold jumped above the 1244.00 level where it had failed to surpass since Tuesday. The precious metal has been supported by the short-term MA20 and is likely to trade higher. As can be seen from the indicator charts, both RSI and ADX indices are tracing higher. A resistance at 1253.00 is anticipated to be tested.

Trade suggestion

Buy Stop at 1247.00, Take profit at 1253.00, Stop loss at 1244.00



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OPEC Supplies Reported to Rise in July, Crude Oil Futures Turn Lower


Crude oil futures prices reversed lower on Friday, looking set to set a loss on the week after a tanker-tracking firm reported supply from OPEC is rising.

West Texas Intermediate crude futures prices for September delivery dropped more than 2 percent to trade around $45.82 per barrel in the last trading session of the week. According to data released by PetroLogistics, OPEC’s July oil supply might rise by 145,000 barrels per day (bpd) compared to June.

With higher supply from Saudi Arabia, the United Arab Emirates (UAE) and Nigeria, the increase in crude oil may push production above 33 million barrels per day.

The Baker Hughes is scheduled to release its weekly data on U.S. oil rigs later in the day, which is expected to provide fresh hints on the outlook for U.S. crude production.

Trade suggestion

Sell Stop at 45.80, Take profit at 45.20, Stop loss at 46.00

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Shares of Microsoft Reverse Gains After Low Expectation Clouds Upbeat Earnings Results


Shares of Microsoft Corp. rose as much as 4 percent in after-hours trading on Thursday after the technology company reported that it produced much better profit in its fiscal fourth quarter than expected. However, shares returned lower after Microsoft published guidance for the next quarter.

Shares of Microsoft hit an all-time intra-day high of $74.30 on Thursday in regular trading ahead of earnings results before closing at an all-time high of $74.22 per share. Microsoft reported net income of $6.5 billion, or 83 cents a share, on sales of $23.3 billion.

Adjusting for one-time items, the Redmond-based company claimed earnings of 98 cents a share on sales of $24.7 billion for the fourth quarter of its 2017 fiscal year, which ended on June 30. This was well above analysts’ expectations calling for earnings of 71 cents a share on sales of $24.3 billion.

However, for the first quarter of its 2018 fiscal year, which ends on September 30, Microsoft only expects revenue of $23.95 billion, based on the midpoint of its guidance which is in the range from $23.6 to $24.3 billion. Markets, meanwhile, forecast the company to reach $24.18 billion in sales in the September quarter.

Trade suggestion

Sell Stop at 74.00, Take profit at 73.00, Stop loss at 74.50

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Re: Market Outlook by Capital Street FX

PostPosted: Mon Jul 24, 2017 6:57 pm
by CSFX.Support
Daily Report on July 24, 2017



European shares edged lower on Monday, extending the selloff in global stock markets to second day. The pan-European STOXX 600 fell 0.1 percent in the morning session as gains in the heavyweight financials sector failed to counterbalance losses in autos and airlines sectors. Shares of the digital security company Gemalto plunged as much as 17 percent on Monday after it said that continued weakness in its SIM-card and U.S. payments operations would drag down profits.

Shares of carmakers were trading lower after European Union antitrust regulators announced that they were investigating allegations of a cartel in the industry. The autos index tumbled 1.8 percent to a seven-month low following the announcement with shares of Volkswagen, Peugeot, Daimler, Renault and BMW all shedding 1.2 to 2.5 percent.

Meanwhile, price war worries hurt airlines. Budget airline Ryanair was among top European loser after its shares dropping 4.7 percent. The Dublin-based airline reported a rise of 55 percent in profit of its fiscal first quarter but also warned that summer fares would face sharp cuts due to overcapacity. Shares of Ryanair’s rivals Wizz Air and EasyJet sank 2 to 3 percent, while those of Lufthansa dipped 1.1 percent.

The Euro retreated on Monday after data showed the Eurozone economy slowed in July. The single currency headed for its first decline in three days, halting the advance that saw it hit a two-year high logged last Thursday. According to data from Markit, composite Purchasing Managers Index for the Eurozone edged lower to 55.8 in July from 56.3 in June. That was below the 56.2 reading expected by economists.



Technicals

USDCHF



Fig: USDCHF H4 Technical Chart

USDCHF resumed its downtrend after rebounding from a support at 0.94500. The currency pair plunged to the lowest level since early May 2015, under downward pressure from two MAs that are hanging over the price action. Further down moves are anticipated even though the RSI index has dipped into the oversold zone, as ADX index is witnessing a widening distance between –DI and +DI lines.

Trade suggestion

Sell Stop at 0.94500, Take profit at 0.94000, Stop loss at 0.94700



GBPUSD



Fig: GBPUSD H4 Technical Chart

GBPUSD has been tracing an uptrend with the support from two moving averages that are hanging below the price action. The pair is heading upwards, looking set to retest a resistance at 0.31100 – the level at which the pair had to give up its bullish momentum on July 14th and 18th. RSI is soaring, confirming the uptrend.

Trade suggestion

Buy Stop at 0.30400, Take profit at 0.31100, Stop loss at 0.30100



GOLD



Fig: GOLD H4 Technical Chart

Gold jumped above a significant level at 23.6% Fibonacci retracement following a period of moving sideways below this level. The gold market has jumped into the overbought territory, as indicated by the RSI index which has soared to as high as 79.82. A reversal is expected.

Trade suggestion

Buy Stop at 1257.00, Take profit at 1263.00, Stop loss at 1254.00



DAX



Fig: DAX H4 Technical Chart

Germany’s DAX 30 index breached a significant level at 23.6% Fibonacci level on Monday after a short correction. Recent declines sent the market into the oversold zone, as indicated by the RSI index that has tumbled to as low as 23.17 and continues to head lower. However, ADX index extended its up moves with a widening gap between –DI and +DI lines. Further declines are expected.

Trade suggestion

Sell Stop at 12150.00, Take profit at 12000.00, Stop loss at 12220.00


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GBP/AUD
From GMT 08:30 24/07/2017
Till GMT 21:00 24/07/2017

Sell at 1.63500
Take profit at 1.63000
Stop loss at 1.63700

Re: Market Outlook by Capital Street FX

PostPosted: Tue Jul 25, 2017 6:14 pm
by CSFX.Support
Daily Report on July 25, 2017



European shares advanced while Asian stock markets were mixed on Tuesday. The MSCI Asia Pacific Index fluctuated near a 10-year high and Japan’s Topix index lost 0.3 percent. The Hang Seng Index was also little changed while the Shanghai Composite Index shed 0.2 percent. South Korea’s Kospi index also traded in negative zone, retreating 0.5 percent. By contrast, Australia’s S&P/ASX 200 Index added 0.7 percent.

Following three days of declines which dragged the index 1.6 percent lower, the Stoxx Europe 600 Index climbed 0.4 percent. The index was bolstered by gains in mining firms and banks. Germany's DAX 30 index added 0.1 percent, and the FTSE 100 index advanced 0.5 percent. Europe's tech sector also contributed to the uptrend after iPhone supplier AMS and computer peripherals and mobile speaker maker Logitech raised their mid-term revenue target.

According to data released by the Munich-based Ifo institute, German business confidence improved to an all-time high in July. The business climate index jumped to 116.0 this month, breaking the previous month's record at 115.2. Economists had expected the index to hit a reading of 114.9 in July.

Crude oil prices edged higher on Tuesday after Saudi Arabia promised to cap shipments next month to help ease a global glut. WTI crude gained 0.6 percent to $46.60 per barrel while Brent for September settlement climbed as much as 0.7 percent, to $48.96 a barrel on the London-based ICE Futures Europe exchange. During a speech at St. Petersburg, Russia on Monday, Energy and Industry Minister Khalid Al-Falih said that Saudi Arabia said it would trim shipments to 6.6 million barrels a day in August, 1 million lower than a year earlier.



Technicals

GBPNZD



Fig: GBPNZD H4 Technical Chart

GBPNZD rebounded higher after having been struggling around a level at 1.75300. The price action jumped above the short-term MA20 and looks set to attempt a resistance at 61.8% Fibonacci level. Further advances are expected with two indices on a rise.

Trade suggestion

Buy Stop at 1.75600, Take profit at 1.76400, Stop loss at 1.75200



COPPER



Fig: COPPER H4 Technical Chart

After having broken above a firm resistance at 2.7360 which had restrained the commodity from surging higher for nearly one week ending Tuesday, copper has been tracing a sharp uptrend which sent the market into the overbought zone. RSI and ADX indices keep soaring, indicating a strong uptrend in the market. A resistance at 0.0% Fibonacci level is within the sight.

Trade suggestion

Buy Stop at 2.7950, Take profit at 2.8200, Stop loss at 2.7880



WTI



Fig: WTI H4 Technical Chart

U.S. crude oil extended its up moves to a second trading session after having rebounded from as low as 45.500. The price action has crossed over both the short-term MA20 and the long-term MA50, confirming the uptrend. The RSI index has soared above 50 level while the ADX is on a rise with a widening gap between +DI and –DI lines, suggesting further advances.

Trade suggestion

Buy Stop at 46.800, Take profit at 47.700, Stop loss at 46.400



FTSE 100



Fig: FTSE 100 Index H4 Technical Chart

U.K.’s FTSE 100 index rebounded from a support at 7370.00 and is struggling at a dynamic resistance at the short-term MA20 after penetrating the long-term MA50 from below. The stock benchmark index is expected to head higher as the market has entered the bullish zone, as indicated by the RSI index. The ADX index also confirm the uptrend as the +DI line has converged with the –DI line from below.

Trade suggestion

Buy Stop at 7430.00, Take profit at 7500.00, Stop loss at 7400.00


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Alphabet Shares Lose Gound due to Weak Performances of Google’s Key Metrics

Shares of Alphabet Inc. dropped nearly 3 percent on Monday in trading shortly after the parent company of Google released its second-quarter earnings report.

Alphabet’s shares lost as much as 2.94 percent to trade at $969.00 per share in after-hours trading after the company posted a plunge of 28 percent in GAAP profit due to a $2.74 billion fine that European antitrust regulators slapped on its Google unit.

On a GAAP basis, the company reported net income of $3.5 billion, or $5.01 per share, up from $4.9 billion, or $7 per share recorded in the same period last year. This was well above analysts’ expectations calling for earnings per share of $4.44. Revenue was reported to reach $26 billion in the three-month period ended June, up from $21.5 billion in the year-earlier period and beating forecast for total revenue of $25.6 billion

Besides the fine levied by the European Commission, Alphabet’s shares were dragged lower due to worse-than-expected performances of two key metrics: cost per click (CPC) and traffic acquisition costs (TAC).

Indeed, Google’s CPC – the amount advertisers are paying each time a user clicks on an ad served by Google- fell 23% in the quarter, compared with a drop of 7% in the same period a year ago. The decline in CPC was much higher than the 15% analysts expected as more search traffic came from mobile devices.

Meanwhile, Google’s TAC – the fees it pays to partner websites that run Google ads or services – increased to $5.09 billion, higher than analyst estimates of $4.75 billion and equivalent to 22% of advertising revenue.

Trade suggestion

Sell Stop at 969.00, Take profit at 960.00, Stop loss at 974.00

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Shares of McDonald’s Rise Following Upbeat Q2 Earnings Results

Shares of McDonald’s Corp. jumped nearly 3 percent in premarket trading on Tuesday after the fast-food giant released its second-quarter earnings report that showed results beat forecast.

McDonald’s shares added 2.55% to trade at $155.74 per share after the Illinois-based company reported a better-than-expected increase in quarterly sales at established U.S. restaurants.

The fast food restaurant chain posted net income of $1.40 billion, or $1.70 per share, up from $1.09 billion, or $1.25 per share, for the same period last year. Revenue for the quarter was reported to reach $6.05 billion, down from $6.27 billion last year. However, both figures topped market’s expectations.

Global same-store sales rose 6.6%, the biggest increase in more than 5 years. Meanwhile, U.S. same-store sales (sales at U.S. restaurants open at least 13 months) rose 3.9%, beating forecast calling for a rise of 2.9%, according to FactSet.

Trade suggestion

Buy Stop at 156.00, Take profit at 160.00, Stop loss at 154.00

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*************************************

USD/JPY
From GMT 08:00 25/07/2017
Till GMT 21:00 25/07/2017

Buy at 111.300
Take profit at 111.800
Stop loss at 111.100

Re: Market Outlook by Capital Street FX

PostPosted: Wed Jul 26, 2017 6:04 pm
by CSFX.Support
Daily Report on July 26, 2017



Supported by upbeat sentiment coming after U.S. equities hit records on Wall Street on Tuesday, Asian shares advanced on Wednesday with MSCI's broadest index of Asia-Pacific shares outside Japan edging 0.1 percent higher. The S&P 500 added 0.3 percent to climb to an all-time high overnight, boosted higher by better-than-expected earnings results from McDonald's and Caterpillar. The Dow Jones Industrial Average finished short of its record from July 19.

Japanese shares also jumped higher. In late-morning trades, the benchmark Nikkei 225 Index soared 0.67 percent to 20,089.64 after hitting a high of 20,116.00 earlier. Markets are awaiting the Federal Reserve's policy decision later in the day for fresh clues on the central bank’s tightening plans. The Fed is widely expected to keep interest rates unchanged.

According to data released by the Australian Bureau of Statistics on Wednesday, the country’s consumer prices unexpectedly advanced at a slower pace in the second quarter. Australia’s inflation gauges inched only 0.2 percent higher in the three-month period to June, missing forecast for a rise of 0.4 percent as lower oil prices dragged down the headline measure. On a yearly basis, CPI gained 1.9%, well below both forecast and RBA’s target of between 2-3% on average.

Crude oil price extended their upbeat moves on Wednesday, holding gains near eight-week highs hit in the previous session. As stated by the industry group the American Petroleum Institute, U.S. crude inventories fell by 10.2 million barrels in the week ending July 21 to 487 million. Analysts had expected a decrease of 2.6 million barrels. Official data will be published by the Energy Information Administration later in the day.



Technicals

AUDCAD



AUDCAD has broken below the 61.8 Fibonacci retracement, under pressure from two MAs that are hanging above the price action. The short-term MA20 has crossed over the long-term MA50, confirming the downtrend. The currency pair is forecast to trade lower to test a support at 0.98250 as RSI index is pointing to the oversold zone.

Trade suggestion

Sell Stop at 0.98800, Take profit at 0.98250, Stop loss at 0.99000



WTI



WTI crude prices surged strongly to hit the 23.6% Fibonacci level – the highest in nearly two months. The commodity is struggling at the significant level as the market has jumped into the overbought territory. However, with the ADX index that is still on a rise, the crude oil price is expected to trade higher to test a resistance at 49.400.

Trade suggestion

Buy Stop at 48.400, Take profit at 49.400, Stop loss at 48.000



SILVER



Silver has been tracing a downtrend since it failed to sustain its bullish momentum above the 61.8% Fibonacci retracement. The precious metal had been supported by a couple of MAs before breaching below these two dynamic supports. RSI index has fallen below 50, confirming the downtrend. Further declines are expected as ADX index is on a rise with widening gap between –DI and +DI lines.

Trade suggestion

Sell Stop at 16.360, Take profit at 16.230, Stop loss at 16.420



COPPER


Copper prices have been on a steep uptrend which has brought the market into the overbought zone, as indicated by the RSI index which is at as high as 83.74. The metal resumed its strong advances following a short consolidation at around 2.8400. The price surpassed a more-than-two-year high at 2.8200 and is anticipated to trade higher to attempt a resistance at 2.9300.

Trade suggestion

Buy Stop at 2.8900, Take profit at 2.9300, Stop loss at 2.8700


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U.K. Shares Jump After Upbeat Earnings Reports, GDP In Line With Expectations


U.K. shares surged on Wednesday, supported by gains in companies that reaffirmed their rosy outlook and a weak British Pound that turned lower versus the greenback for the second day in a row.

The FTSE 100 index jumped more than 0.6 percent to trade around 7480.00. Shares of ITV and Compass Group PLC topped the market, soaring at least 2.6 percent after the releases of their earnings results. While the maker of “Downton Abbey” raised its dividend, the catering services company posted a rise in third-quarter revenue. Both companies backed their full-year expectations.

The overall performance was also supported by gains for energy and mining stocks. Crude oil held on gains after taking off on Tuesday, spurring gains in shares of Royal Dutch Shell PLC and BP., which gained more than 0.5% each.

With copper price jumping to the highest level since mid-May 2015, shares of Fresnillo climbed more than 0.7 percent, also boosted by its 2017 production guidance which showed higher silver and gold output for the second quarter. Shares of BHP PLC also traded higher, adding more than 0.8 percent.

The Office for National Statistics on Wednesday reported that Britain’s economy grew in line with expectations in the second quarter. Britain GDP was reported to rise 0.3% in the three months to June following a 0.2% growth in the first three months of the year. On a yearly basis, the economy expanded by 1.7% from 2.0% in the first quarter, in line with forecasts.

Trade suggestion

Buy Stop at 7480.00, Take profit at 7500.00, Stop loss at 7470.00

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AT&T Shares Advance As Earnings Above Wall Street Forecasts


Shares of AT&T reversed higher in after-hours trading on Tuesday after closing the regular session down less than 0.1 percent as the telecommunications conglomerate reported Q2 earnings above Wall Street expectations.

AT&T shares jumped more than 2.7 percent to trade at $37.21 per shares after the telecommunications company said it earned $3.9 billion, or 63 cents a share, in the second quarter. That was well above the same quarter last year’s reading of $3.4 billion, or 55 cents a share.

Adjusted for one-time items, AT&T posted earnings of 79 cents a share, marking an advance compared with 72 cents a share recorded a year ago. Meanwhile, sales were reported to inch lower to $39.8 billion, from $40.5 billion in the year-ago quarter. However, the decline, which was due to weak performance in legacy wireline services and consumer mobility, was line in with forecast.

Trade suggestion

Buy Stop at 37.25, Take profit at 37.80, Stop loss at 37.00

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