Daily Market Report by GulfBrokers 2020-2021

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Dell Technologies (NYSE: DELL) and Marvell Technology Group (NASDAQ: MRVL) reported strong quarterly earnings data on Thursday.

Dell reported better than expected earnings after the market close. The revenue for Dell's Client Solutions Group rose 2% year over year to $11.1 billion.

  • Earnings per share (EPS) $1.34 vs. $0.92 expected
  • Revenue $21.90 billion vs. $20.85 billion expected

"Customers need essential technology now more than ever to put business continuity, remote working and learning plans into practice," Jeff Clarke, vice chairman and COO, said. "In Q1, we saw orders with banking and financial services, government, healthcare and life sciences customers up 15 to 20 per cent – all to meet the immediate needs of their customers, communities and patients. As the world pivots from response to recovery, we'll continue to put our broad capabilities to work to deliver differentiated results for our customers and our company" he added.

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Dell stock climbed 7.7%, near 49.10 in after-hours trading on Thursday.

Marvell Group announced strong first-quarter results on Thursday. The company revenue rose to $693.6 million from $662.5 million in the year-ago period.

  • Earnings per share (EPS) $0.18 vs. $0.14 expected
  • Revenue $694 million vs. $680 million expected

"In a challenging environment, solid execution by the Marvell team drove strong first-quarter financial results with disciplined operating expense management, healthy operating cash flow, and revenue above the mid-point of guidance, enabled by stronger demand for our networking products from the datacenter and 5G infrastructure end markets," said Matt Murphy, Marvell's President and CEO.

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The shares of Marvell surged 5.9% in after-hours trading on Thursday.

 
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In the last few months, all major sporting events and leagues have been cancelled around the world; many peoples are looking for suitable alternatives. Recently, it was announced this summer’s long-awaited European Championship- Euro 2020 was postponed to summer 2021. In U.S. sports betting industry will likely lose at least $100 million in revenue as a result of COVID-19, and that figure could increase drastically if delays stretch any longer. So due to a reduction in sports betting shifts people focus on trading online, and we know this is one of the easiest ways to make money from home.

During times like these, Investing in the financial market is one of the best and most accessible forms of passive income. Many online investors choose trading financial market because of the ease with which you can trade even during a bearish market. The financial markets have been experiencing volumes and swings not seen since the Great Recession, creating a highly dynamic trading environment.

Sport Betting

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We know there are many peoples bet on sporting events and there are now many forms of sports betting too as you can bet on player performance in a football game. Americans bet an estimated $380 billion each year on sports. In sports betting, people predict who wins the sport and challenges others. If the prediction comes true, they get huge money as rewards. If the prediction fails, you must pay.

"You're making a wager based on some facts and some intuitions. And in neither instance can you be guaranteed to be correct," said Randall Fine, managing director of The Fine Point Group, one of the casino industry's largest consulting firms.

Online Trading

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Financial markets are increasingly volatile due to the COVID-19 pandemic. The facility of buying and selling financial instruments through a virtual trading platform is referred to as online trading. The problem is a lot of people only think of investing in the stock market, but the truth is, you can invest in other products as well like commodities, currencies and indices etc... Investing during a recession also has a positive side to it. Although the recession fears the economic downturns it creates some of the best buying opportunities.

Why online trading is better than sports betting?
Sports betting may be more fun, but it's more risky use of money than putting it in the financial market. Online trading and sports betting have far different time horizons. A financial product can theoretically be held onto for an infinite amount of time, but a sports bet can end in the blink of an eye.

  • Accessibility: Almost all the major brokers offer mobile trading nowadays, meaning you can execute trading orders on smartphones. All you need is to download the trading app and get started.

  • Diversification: In online trading, Investors can spread their money out among many financial products. Most of the people invest different sector stocks, currencies and commodities which help reduce the risk and make markets more efficient for their participants. In sports betting, chances of winning are always 50/50.

  • Reliability: With online trading, you can know the status of your account anytime. In sports betting, you entrust your money to someone else.

  • Manage risk: In online trading investors have greater accesses to tools that can minimize the risk of losing money. For example, a stop-loss order instructs a broker to dump stock when it tumbles below a specific price.

  • Regulations: Online trading can be done with trusted brokers who are regulated by specific countries. Sports betting sites are generally more free &, while there are regulations in place.

Conclusion
For people looking for a second source of income, trading is an appealing prospect. Doing online trading at home is easy. Submit your important documents like proof of income, identity and address proof. If you are interested in online trading, then you would be wise to start with a practice account; one with virtual money so you can get a realistic look.

 
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Moving ahead to the new week investors and traders will likely monitor PMI surveys, geopolitical headlines, ECB, RBA, BOC rates, US non-farm payrolls. A series of manufacturing surveys released today,

The UK, Germany, Eurozone Manufacturing surveys released today.

AUDUSD climbed to a 4-month high.

Trump terminated the relationship with WHO.

Gold Price surge to 1-Week High.

Technical analysis - AUD/USD and EUR/USD

Read detail report here - https://gulfbrokers.com/en/daily-market-report-95
 
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The US dollar continues to trade lower on Tuesday as the market sentiment experiences some pressure over mounting protests across US cities following George Floyd’s death. Moving ahead to the North American session the investors will likely monitor how current protests will impact the economy as states try to reopen while making it more difficult to control the spread of the coronavirus.

EQUITIES

Several Asian markets including Tokyo and Hong Kong shares closed higher Tuesday on continued hopes for global economies to recover. The UK 100 added 1% to trade above 6,200 on Tuesday, having touched its highest level since March 9th, amid prospects of the easing of lockdowns across the world.

OIL

Brent crude rose more than 2% to trade above $39 a barrel as OPEC+ producers are expected to extend their output cut of 9.7 million barrels per day into July or August. The investors focus shifts to the US weekly crude stocks data due to be published by the American Petroleum Institute (API).

CURRENCIES

The EURUSD climbed above 1.1180 on Tuesday after US dollar faced additional selling pressure following the release of the ISM manufacturing PMI data during the previous session which revealed a weaker than expected reading. The commodity currencies again rose strong, the Australian dollar rallied to 0.6870 and the New Zealand dollar climbed to 0.6315.

GOLD

Gold prices slipped on Tuesday as hopes for a gradual recovery in economic growth rose following the easing of lockdowns. The yellow metal price has gained in the previous three sessions and hit their highest on Monday since May 21.

Economic Outlook

The RBA has left interest rates on hold at 0.25 per cent. RBA said the economy is going through a very difficult period and is experiencing the biggest economic contraction since the 1930s. The Australian dollar climbed back to above 4-month high 0.6800 after the announcement. RBA Governor Lowe said that it was possible the downturn would be shallower than previously expected but policy support would likely be required for some time.

Meanwhile, The fourth round of trade talks between the UK and the EU starts today and London has until July 1st to ask for an extension to the transition period, which ends in December.

Coronavirus Update:

More than six million cases of the novel coronavirus have been officially recorded worldwide. The United States is the worst-hit country, with 1,760,740 cases and 103,472 deaths. On Friday Moderna announced that it had started the phase 2 trials of its experimental coronavirus vaccine. In its phase 2 trial, 600 adult patients in 2 age groups had been given a high or low dose.

Technical Outlook

GOLD:
The yellow metal trading slightly weaker on Tuesday after placing a high of $1744.58.

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The important levels to watch for today: Support- $1727 and $1710 Resistance- $1745 and $1760.

EUR/USD: The pair trading strong above 1.1150, the important levels to watch today 1.1200.

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The important levels to watch for today: Support- 1.1110 and 1.1070 Resistance- 1.12 and 1.1235.

Quote of the day: You learn nothing from trading if you think you are right all the time.

Read the detailed report- https://gulfbrokers.com/en/daily-market-report-96
 
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As economies try to reopen globally social distancing to be permanent for a while, at least until a vaccine is developed. According to the recent study, social distancing can limit the chance of catching coronavirus to fewer than 3%. Keeping one metre apart reduces the risk of transmission to 2.6%, while a two-metre gap decreases the chance of infection by a further 50%. Countries like France, the UK, Singapore, Hong Kong and Saudi Arabia already introduced new social distancing rules.

EQUITIES

Asian shares rose Wednesday after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. South Korean stocks rose for a third straight session, with the benchmark Kospi closing 1.1% higher at 2087.19.

OIL

Oil prices rose, extending a recent recovery with investors anticipating that oil producers led by Saudi Arabia and Russia will extend supply curbs in response to the energy industry’s crisis.

CURRENCIES

The EURUSD edged up, lifted by positive news around the EU recovery plan and Germany announced a 100-billion-euro rescue package to fight the economic impact of the coronavirus. The British pound rose to fresh month high as market participants grew more optimistic about trade negotiations between the U.K. and the European Union.

GOLD

Gold fell for a second straight session on Wednesday as stocks jumped on hopes for further stimulus and optimism about an economic recovery, dampening demand for the safe-haven metal.

Economic Outlook

Germany's unemployment rate jumped to 6.3% from 5.8% the previous month due to the on-going coronavirus pandemic, this is the highest level since late 2015. The number of German residents out of work rose by 238,000 in May vs. 200,000 expected, data showed on Wednesday. Earlier during the Asian session, Australian data showed GDP growth down 0.3% in the first quarter, compared to a 0.5% rise in the fourth quarter.

Moving ahead today, the important events to watch:

U.S. ADP non-farm employment report – 12.15 GMT

U.S. ISM non-manufacturing PMI – 14.00 GMT

Bank of Canada Interest rate decision- 14.00 GMT

US crude oil inventory report- 14.30 GMT

Coronavirus Update:

Coronavirus cases have crossed 6.4 million marks worldwide, taking positive patients toll to 6,477,966 with 382,188 deaths while 3,009,648 have recovered. Brazil's death toll rose by 1,001 in 24 hours, the third time in four days it has come in over 1,000. The country's health ministry reported 20,803 new cases on Friday, bringing the total to 330,890 confirmed cases.

Technical Outlook

GOLD:
The yellow metal price trading below $1720 ahead of ADP employment report. On Tuesday the Gold price dropped more than 1%.

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The important levels to watch for today: Support- $1710 and $1695 Resistance- $1728 and $1735.

EUR/USD: The pair climbed to near 3 – month high $1.1228 on Wednesday ahead of ECB meeting tomorrow, its highest level since March 16th.

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The important levels to watch for today: Support- 1.1190 and 1.1130 Resistance- 1.1240 and 1.1300.


Quote of the day: The fundamental law of investing is the uncertainty of the future- Peter Bernstein.

Read More- https://gulfbrokers.com/en/daily-market-report-97
 
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The Teleconferencing company Zoom video communications (NASDAQ: ZM) announced strong first-quarter financial results on Tuesday after market close. The California-based company beats Wall Street estimates with first-quarter revenue of $328.2 million, an increase of 169 per cent from last year.
  • Earnings per share (EPS) $0.20 vs. $0.09 expected
  • Revenue $328.2 million vs. $202.7 million expected

The usage of this video conference call software increased due to the long period of lockdown in different parts of the world pushed people out of offices and back into their homes.

“The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom,” said Eric Yuan, founder and CEO of Zoom. “Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives,” he added.

Yuan said the quarter ended with Zoom having approximately 265,400 paying customers with at least 10 employees each — an increase of 354 per cent from the first quarter in 2019. The company also saw a big spike in high-budget customers who had spent more than $100K on the platform in the past year. Zoom is expecting revenues to rise to between $495m and $500m in the next quarter, with the operating income of between $130m and $135m. The earnings estimates for the entire fiscal year are between $1.21 and $1.29 a share.


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The Zoom stock started off 2020 worth around $69 per share; today it is worth $209 and it gained more than 200% since the beginning of the year. The video chat software giant shares climbed 5% during the US session on Tuesday, while the stock closed slightly lower after the market close.

Read more- https://gulfbrokers.com/en/zoom-usage-booms-keeping-millions-connected-amid-coronavirus-lockdown
 
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EUR/USD trading below 1.12 ahead of the key European Central Bank (ECB) monetary policy decision. On Wednesday the pair surged to a three-month high of 1.1257. The market participants anticipating the European Central Bank is expected to boost its 750-billion-euro bond-buying programme by a further 500 billion euros.

EQUITIES

Global shares slipped on Thursday on worries about US-China tensions after the Trump administration barred Chinese passenger planes from flying to the US from June 16th. On Wednesday Wall Street ended higher, the S&P 500 booked its longest winning streak since February and posted its largest 50-day rally in history, while the Dow closed Wednesday’s session 2% higher.

OIL

Oil prices slide on Thursday due to uncertainty about supply cuts by major producers and EIA data released Wednesday suggested demand in the US is not recovering as fast as expected.

CURRENCIES

The Australian dollar trading slightly weaker on Thursday after the retail sales in Australia tumbled 17.7 per cent month-over-month in April of 2020. The Pound fell to a session low of 1.2400 after data showed the UK new car sales market suffered its worse May month ever due to the coronavirus pandemic.

GOLD

Gold price recovered from the early session low. On Wednesday the yellow metal tanked below $1690 on hopes of a recovery from a coronavirus-driven economic slump as countries around the world continued to ease lockdown restrictions.

Economic Outlook

During the European session, the Eurozone’s retail trade tumbled 11.7 per cent from a month earlier in April 2020, the largest decline since comparable series began in 1995. On Wednesday, the US ADP Non-Farm Employment Change for May was recorded as 2.76M job loss in comparison to 9.0M of expectations.

Moving ahead today, the important events to watch:

ECB interest rate decision – 11.45 GMT

ECB press conference – 12.30 GMT

US initial jobless claims report- 12.30 GMT

Coronavirus Update:

Coronavirus cases have crossed 6.5 million marks worldwide and 386,073 deaths while 3, 164,317 have recovered. The US remains the worst-hit country by the virus with over 1.85 million cases, while the death toll in the country exceeded 107,100.

Technical Outlook

GOLD:
The gold price trading steady above $1700 ahead of US jobless claims report and ECB meeting.

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The important levels to watch for today: Support- $1700 and $1690 Resistance- $1718 and $1727.

EUR/USD: The pair trading slightly lower against the dollar supported by 1.1180, any break below this level will open 1.1130 and 1.1100. On the other side, the immediate resistance around 1.1260 – the previous session high.

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The important levels to watch for today: Support- 1.1180 and 1.1130 Resistance- 1.1235 and 1.1290.


Quote of the day: Having a trading discipline is the beginning, keeping discipline is the process, and staying disciplined is a success.


Read more- https://gulfbrokers.com/en/daily-market-report-98
 
It seems to me that everyone will agree that the dollar is not in the best position right now, especially against the backdrop of current events. So now you need to be more careful with this asset and I would do my analysis in more detail, especially if you include this asset in your investment portfolio. Or maybe it's better to watch it now. Take your time?
 
Now it is possible to include this metal in the long term and use it for short positions. And each time the movement is strong enough that you can organize active work and can fully concentrate on this asset. It looks promising...
 
I love your reviews, it looks really professional and competent. And most importantly, you focus on those assets that really deserve attention. I like the fact that it's always mono to find something useful to work with. You're doing a lot of work.
 
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