Daily Market Report by GulfBrokers 2020-2021

Status
Not open for further replies.
shutterstock_334659080 (1).jpg

China reported higher than expected inflation figures on Wednesday. China’s CPI grew 1.5% in October while the producer price index (PPI) increased by 13.5% in October.

On the other hand, the annual inflation rate in Germany rose to 4.5% in October and on a monthly basis, the inflation increased by 0.5%. Moving ahead to the North American session, the US will release the latest inflation numbers.

EQUITIES

US stock futures trading unchanged on Wednesday as the investors waiting for the release of U.S. consumer price data due 01.30 GMT on Wednesday for further cues on the Fed's stance on inflation.

OIL

Crude oil prices extend higher following the release of API inventory data. The data showed the U.S. crude inventories decreased by 2.5 million barrels for the week ended Nov. 2.

CURRENCIES

In the currency market, the US dollar index stays above 94.00 ahead of US CPI data. While the Asian currencies like the Australian dollar and New Zealand dollar remained under pressure after China's annual inflation rate accelerated sharply in October.

GOLD

The Safe-haven metal slightly retreat from the previous session highs after the metal failed to break above the key resistance of $1833. At the time of writing, the gold price was trading below $1826. On Tuesday, the metal reached a fresh two month high of $1832.

Economic Outlook

On the data front, the Labor Department released last month PPI data. The US producer price index increased 0.6% in October of 2021, following a 0.5% rise in September.

Moving ahead today, the important events to watch:

US – Jobless claims: GMT – 13.30

US – CPI: GMT – 13.30

Coronavirus update:

Worldwide, more than 250.7 million people have been confirmed infected and more than 5 million have died. The United States has confirmed over 46.6 million cases and has had more than 750,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

EURUSD:
For today, the resistance for Euro is around 1.1620. On the other side, the immediate support is at 1.1550 and any break will drag the pair to 1.1530/10 levels.

eurusd


The important levels to watch for today: Support- 1.1550 and 1.1530 Resistance- 1.1600 and 1.1620.

GOLD: The yellow metal trades above $1820. Any break below the $1820 will open the doors to $1815 and $1810. On the upper side, $1835 is a crucial resistance area to watch.

gold neww


The important levels to watch for today: Support- 1818 and 1815 Resistance- 1830 and 1835.

Quote of the day- “I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell.” – Tom Basso.

Read more- https://gulfbrokers.com/en/daily-market-report-400
 
View attachment 70652
China reported higher than expected inflation figures on Wednesday. China’s CPI grew 1.5% in October while the producer price index (PPI) increased by 13.5% in October.

On the other hand, the annual inflation rate in Germany rose to 4.5% in October and on a monthly basis, the inflation increased by 0.5%. Moving ahead to the North American session, the US will release the latest inflation numbers.

EQUITIES

US stock futures trading unchanged on Wednesday as the investors waiting for the release of U.S. consumer price data due 01.30 GMT on Wednesday for further cues on the Fed's stance on inflation.

OIL

Crude oil prices extend higher following the release of API inventory data. The data showed the U.S. crude inventories decreased by 2.5 million barrels for the week ended Nov. 2.

CURRENCIES

In the currency market, the US dollar index stays above 94.00 ahead of US CPI data. While the Asian currencies like the Australian dollar and New Zealand dollar remained under pressure after China's annual inflation rate accelerated sharply in October.

GOLD

The Safe-haven metal slightly retreat from the previous session highs after the metal failed to break above the key resistance of $1833. At the time of writing, the gold price was trading below $1826. On Tuesday, the metal reached a fresh two month high of $1832.

Economic Outlook

On the data front, the Labor Department released last month PPI data. The US producer price index increased 0.6% in October of 2021, following a 0.5% rise in September.

Moving ahead today, the important events to watch:

US – Jobless claims: GMT – 13.30

US – CPI: GMT – 13.30

Coronavirus update:

Worldwide, more than 250.7 million people have been confirmed infected and more than 5 million have died. The United States has confirmed over 46.6 million cases and has had more than 750,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

EURUSD:
For today, the resistance for Euro is around 1.1620. On the other side, the immediate support is at 1.1550 and any break will drag the pair to 1.1530/10 levels.

eurusd


The important levels to watch for today: Support- 1.1550 and 1.1530 Resistance- 1.1600 and 1.1620.

GOLD: The yellow metal trades above $1820. Any break below the $1820 will open the doors to $1815 and $1810. On the upper side, $1835 is a crucial resistance area to watch.

gold neww


The important levels to watch for today: Support- 1818 and 1815 Resistance- 1830 and 1835.

Quote of the day- “I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell.” – Tom Basso.

Read more- https://gulfbrokers.com/en/daily-market-report-400
Thanks for sharing
 
View attachment pexels-skitterphoto-42415.jpg
The entertainment giant Walt Disney (NYSE: DIS) stock slips almost 5% in after-hours trading following the Q4 earnings report.

EPS: $0.37 $0.52 expected
Revenue: $18.53B $18.78B expected

Meanwhile, during the last quarter, Disney+ added 2.1M new customers.

“Obviously, we are only in year two of the Disney+ launch and the hunger for content for the service is extraordinary,” CEO Bob Chapek said.
 
GBPUSD slips back below 1.3400 following the release of mixed UK macro-economic data.

UK GDP grew by 0.6% in Sep but manufacturing and industrial production figures unexpectedly dropped by 0.1% and -0.4% respectively.

On the downside, key support areas to watch: 1.3350/30.

euraud.PNG
 
dollar-3338112_1920.jpg

The safe-haven US dollar rose to a fresh 13-month high on Thursday after the latest inflation reading renewed pressure on FED policymakers to lift interest rates. The US inflation increased by 6.2% in October, marking the highest reading since 1990.

EQUITIES

Wall Street ended lower on Wednesday driven by disappointing earnings results and higher-than-expected US inflation numbers. The Dow Jones industrial average fell more than 300 points on Wednesday.

OIL

Crude oil prices ended in negative territory on Wednesday after the buyers failed to hold the upside momentum despite better-than-expected EIA inventory data. The EIA data showed the US crude oil inventories rose by 1.001 million barrels in the week ending November 5th, compared with market forecasts of a 2.125 million increase.

CURRENCIES

In the currency market, the EURUSD remained under pressure after the pair breaks below the key psychological area of 1.1500. The currency pair hits its lowest level since July last year on Wednesday. On the other hand, the British pound slips back below 1.3400 following the release of mixed UK macro-economic data.

GOLD

The Safe-haven metal spiked to its highest level since June on Wednesday. Meanwhile, the metal slightly retreats from the early session highs. At the time of writing, the gold price trades below $1855.

Economic Outlook

On the data front, the UK reported stronger-than-expected GDP data on Thursday. The data showed the GDP increased by 0.6% in September, from 0.2% in August. On the other hand, the UK manufacturing production and industrial production figures unexpectedly dropped by 0.1% and -0.4% respectively.

Coronavirus update:

Worldwide, more than 250.7 million people have been confirmed infected and more than 5 million have died. The United States has confirmed over 46.6 million cases and has had more than 750,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

EURUSD:
The currency pair trades below 1.1500. If the bearish momentum continues the next downside level to watch today is the 1.1450/30 zone. On the flip side, the immediate resistance is at 1.1510/30.

eurusd


The important levels to watch for today: Support- 1.1450 and 1.1430 Resistance- 1.1500 and 1.1530.

GOLD: The yellow metal trading steady above $1855 on Thursday. If the bullish momentum continues the next upside levels to watch the $1860 and $1865 zone. On the flip side, the immediate support at $1842/35.

gold neww


The important levels to watch for today: Support- 1842 and 1832 Resistance- 1860 and 1872.

Quote of the day- Limit your size in any position so that feal does not become the prevailing instinct guiding your judgement – Joe Vidich.

Read more- https://gulfbrokers.com/en/daily-market-report-401
 
View attachment 70691
The safe-haven US dollar rose to a fresh 13-month high on Thursday after the latest inflation reading renewed pressure on FED policymakers to lift interest rates. The US inflation increased by 6.2% in October, marking the highest reading since 1990.

EQUITIES

Wall Street ended lower on Wednesday driven by disappointing earnings results and higher-than-expected US inflation numbers. The Dow Jones industrial average fell more than 300 points on Wednesday.

OIL

Crude oil prices ended in negative territory on Wednesday after the buyers failed to hold the upside momentum despite better-than-expected EIA inventory data. The EIA data showed the US crude oil inventories rose by 1.001 million barrels in the week ending November 5th, compared with market forecasts of a 2.125 million increase.

CURRENCIES

In the currency market, the EURUSD remained under pressure after the pair breaks below the key psychological area of 1.1500. The currency pair hits its lowest level since July last year on Wednesday. On the other hand, the British pound slips back below 1.3400 following the release of mixed UK macro-economic data.

GOLD

The Safe-haven metal spiked to its highest level since June on Wednesday. Meanwhile, the metal slightly retreats from the early session highs. At the time of writing, the gold price trades below $1855.

Economic Outlook

On the data front, the UK reported stronger-than-expected GDP data on Thursday. The data showed the GDP increased by 0.6% in September, from 0.2% in August. On the other hand, the UK manufacturing production and industrial production figures unexpectedly dropped by 0.1% and -0.4% respectively.

Coronavirus update:

Worldwide, more than 250.7 million people have been confirmed infected and more than 5 million have died. The United States has confirmed over 46.6 million cases and has had more than 750,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

EURUSD:
The currency pair trades below 1.1500. If the bearish momentum continues the next downside level to watch today is the 1.1450/30 zone. On the flip side, the immediate resistance is at 1.1510/30.

eurusd


The important levels to watch for today: Support- 1.1450 and 1.1430 Resistance- 1.1500 and 1.1530.

GOLD: The yellow metal trading steady above $1855 on Thursday. If the bullish momentum continues the next upside levels to watch the $1860 and $1865 zone. On the flip side, the immediate support at $1842/35.

gold neww


The important levels to watch for today: Support- 1842 and 1832 Resistance- 1860 and 1872.

Quote of the day- Limit your size in any position so that feal does not become the prevailing instinct guiding your judgement – Joe Vidich.

Read more- https://gulfbrokers.com/en/daily-market-report-401
Thanks for sharing this it’s Verry useful
 
Rivian-IPO-New-York-01_.jpg

Shares of Electric vehicle maker Rivian Automotive (NASDAQ: RIVN) closed 22% higher on Thursday. Rivian made its debut today on Wall Street on Wednesday and the company raised $11.9 billion by offering 153 million shares at $78. The stock opened at $106.75 and closed at $100.73, up $22.73 from its offer price.

Rivian was founded in 2009 by RJ Scaringe. Rivian has a huge deal with Amazon to build electric delivery trucks. Amazon has committed to buying 100,000 delivery vehicles from Rivian.

EQUITIES

European stocks held on to early gains on Friday supported by better-than-expected corporate earnings results. Meanwhile, the US stock futures remain under pressure on deepening concerns over persistent inflation.

OIL

Crude oil prices trade mostly lower on Friday after the Organization of the Petroleum Exporting Countries raised concerns over prospects for demand growth.

CURRENCIES

In the currency market, the British pound slightly recovered from the previous session losses. At the time of writing, the currency pair trades above 1.3400. The US dollar index trade is steady above 95.00, if the bullish momentum continues then the next upside level is to watch 95.30/50.

GOLD

The precious metal slightly retreats from the weekly highs as the US dollar remains strong for the third consecutive session on Friday. Overall, the momentum remained bullish throughout this week.

Economic Outlook


On the data front, OPEC released the monthly oil market report on Thursday. The OPEC said it expects oil demand to average 99.49 million barrels per day (bpd) in the fourth quarter of 2021, down 330,000 bpd from last month`s forecast.

Moving ahead today, the important events to watch:

US – JOLTs job openings: GMT – 15.00

US – Michigan consumer sentiment: GMT – 15.00

Coronavirus update:

Worldwide, more than 251 million people have been confirmed infected and more than 5 million have died. The United States has confirmed over 46.6 million cases and has had more than 750,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

EURUSD:
The currency pair attempted to bounce but is currently struggling to extend the rebound. On the downside, the next key support area to watch today is 1.1420/00.

eurusd


The important levels to watch for today: Support- 1.1430 and 1.1410 Resistance- 1.1460 and 1.1490.

GOLD: For today, the gold price is supported at $1840 levels, any break below this level will open the doors to $1836/32. On the flip side, the immediate resistance at $1860/66.

gold neww


The important levels to watch for today: Support- 1840 and 1836 Resistance- 1860 and 1865.

Quote of the day- “The vast majority of people compete in a time horizon that’s very near dated. There are many fewer investors who are thinking out a decade and beyond.” Matthew McLennon.

Read the complete blog here- https://gulfbrokers.com/en/daily-market-report-402
 
dua-lipa-1838653.jpg

The Los Angeles-based music company Warner Music Group (NASDAQ: WMG) is scheduled to report fourth-quarter 2021 financial results on Monday, November 15 before the markets open. During this Q4, $WMG expected to post quarterly earnings of $0.15 per share and revenues to be $1.36 billion.

WGM Q3 earnings review

Warner Music Group reported revenue of $1.34 billion during the third quarter, a 33% improvement over the same quarter in 2020. WMG’s major sellers across the quarter included Dua Lipa, Cardi B, Ed Sheeran, Ava Max, and Masked Wolf.

“Outstanding releases from our artists and songwriters, coupled with imaginative execution by our operators, delivered excellent results in the third quarter” - Warner Music Group CEO, Steve Cooper said.

$WMG: Key levels to watch ahead of the earnings announcement

Shares of Warner Music Group have risen by almost 40% in 2021, reflecting solid short-term bullishness. The stock reached a new 52-week high of $50.23 on October 28. $WMG has a one year low of $25.61 and a one year high of $50.23.

ocado


$WMG key technical levels to watch today:

Support: $47.10 and $44.90

Resistance: $49.50 and $51.00

Read more- https://gulfbrokers.com/en/warner-music-q4-earnings-preview
 
Global markets ended mixed last week after annual consumer inflation in the US accelerated to a three-decade high. Retail sales data from China and US, Federal Reserve speakers and the Eurozone and UK inflation numbers will be in focus this week.

On the earnings front, the companies due to release their results will be the world’s largest retailer Walmart ( NYSE: WMT), semiconductor maker Nvidia (NASDAQ: NVDA) and the e-commerce giant Alibaba (NYSE: DIS) will be among those reporting earnings this week.

GOLD

The Safe-haven metal spiked to its highest level since June despite the renewed strength in the US dollar. The recent strong upside momentum is driven by hotter-than-predicted U.S. inflation data.

gold neww


Technically the overall momentum remains bullish throughout the last couple of weeks. This week, If the bullish momentum continues then the next upside level is to watch $1870 and $1900. On the downside, any meaningful pullback now seems to find some support near the $1840/32 zones, below which the slide could further get extended towards the $1820/15 regions.

DOLLAR INDEX

The dollar index, which tracks the U.S. currency against six major peers ended for its best week in almost five months. The Index rose to a fresh 15-month high after the latest inflation reading renewed pressure on FED policymakers to lift interest rates.

DXY


This week, If the bullish momentum continues then the next upside level is to watch 95.25 and 95.60. On the flip side, a breakdown through 94.55 would negate that bias and suggest a test of the 94.20 and 94.00 support regions.

EURUSD

Last week, the currency pair hits its lowest level since July 2020. On Friday, the currency pair attempted to bounce but it failed to extend the rebound after the eurozone economic data showed the industrial production fell for the second straight month in September.

eurusd


This week, the key support appears to be around 1.1400, a break below this level will confirm a possible move to 1.1380/60. On the flip side, the first resistance at 1.1870 any break above this level will open 1.1900/30 minimum.

DOW JONES

Wall Street ended mixed on Friday as traders worried about continued high inflation bad for the market. Dow Jones remained under pressure for the whole last week except the Friday gains. For Dow, the main attraction for this week is the US retail sales data and Wal-Mart earnings report on Tuesday.

cruse


Dow Jones futures started the new week in a mildly bearish manner. In the short term, if the bearish momentum continues the next downside levels to watch 35,910/800 and 35,500. On the upper side, the first immediate resistance is around 36,200 and then 36,500.

Read more- https://gulfbrokers.com/en/weekly-analysis-gold-usd-eurusd-and-dow-jones-14
 
Status
Not open for further replies.
Back
Top