New York opening news digest
|After An Excruciating Headache For Small Cap Stocks A Recovery May Be Taking Hold. CressCap is pleased to feature three stocks from three sectors; Luxfer as industrial recommendation, Boot Barn from the consumer discretionary sector, and Ceragon Networks as our small cap technology recommendation.|
|Crude oil may bounce but support not until lower, gold price may be gearing up to trade higher, while global indices continue to act better|
|Precious metals continue to range but have some positives in recent price action which suggests resistance levels may not hold in place for much longer.|
|EURUSD Analysis: Resistance Curbs Further Upside, Eyes on FOMC|
|The British Pound and the Euro could be among the main beneficiaries from Dollar weakness after the US mid-term elections, on optimism about a Brexit|
|GBPUSD continues to push higher and is closing in on a confluence of technical indicators that, if broken, could open the way to higher longer-term|
|The USD price is dropping in Europe after the US Democrats won control of the House and could extend its losses on concerns about US|
|The US Dollar may turn higher after a bit of knee-jerk weakness as markets digest midterm election results that increase scope for a bipartisan infrastructure|
|According to the White House Press Spokeswoman Sarah Sanders, the US President Donald Trump will hold a news conference today at 1130 local time in Wa|
|United States MBA Mortgage Applications declined to -4% in November 2 from previous -2.5%|
|Senior Analyst at Danske Bank Jens Pedersen suggested the cross should remain in a rangebound theme within 10.20 and 10.40 for the time being.
|The outlook on the pair remains neutral in the near term, although a test of 0.6850 appears unlikely, suggested FX Strategists at UOB Group.
|• The USD continues to be weighed down by the US midterm elections results.
• Sliding US bond yields/risk-on mood does little to ease the USD
|EUR/JPY daily chart
|Chile Trade Balance dipped from previous $-122M to $-217M in October|
|According to the latest headlines floating on the wires, Italy’s coalition government was able to push through its agenda and won a confidence motion|
|Bert Colijn, Senior Economist at ING, points out that the annual growth in Eurozone retail sales dropped to 0.8% in September.
|Analysts at TD Securities note that the German manufacturing for September came in better expected with a 0.2% increase (market: 0.0%).
|• The pair extended its intraday sharp retracement slide from fresh one-month tops and momentarily slipped back below the 113.00 handle in the las|
|Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are|
|Brazil IPCA Inflation came in at 0.45%, below expectations (0.55%) in October|
|According to a Bloomberg report, citing unnamed delegates, OPEC+ ministers were said to discuss oil output cut options for 2019 in Abu Dhabi amid conc|
|In the US midterm elections, the Democrats won the House by a comfortable margin, while the Republicans expanded their control over the Senate on expe|
|Ahead of a do-or-die confidence vote in the Senate over a contested decree on security and immigration on Wednesday, the Italian Deputy Prime Minister|
|According to the latest reports carried by the Russian media agency TASS, Russia and Saudi Arabia have begun discussing oil production cuts in 2019.|
|According to James Knightley, Chief International Economist at ING, life is going to get far tougher for President Trump as the split Congress (Democr|
|In view of analysts at TD Securities, the November FOMC meeting should pass without much market impact, as the Fed should remain on track for another|
|• The US midterm election results weighing heavily on the USD.
• Sliding US bond yields do little to ease the USD bearish pressure.
|China Foreign Exchange Reserves (MoM) below expectations (¥3.062T) in October: Actual (¥3.053T)|
|The bulls are extending control heading into the mid-European session, with the GBP/USD firmly higher above the midpoint of the 1.31 handle, as the US|
|European Monetary Union Retail Sales (MoM) below expectations (0.1%) in September: Actual (0%)|
|European Monetary Union Retail Sales (YoY) above expectations (0.7%) in September: Actual (0.8%)|
|Jan von Gerich, Global Fixed Income Strategist for Nordea Markets, suggests that the outlook of further debt ceiling battles in the US, the chance of|
|In view of FX Strategists at UOB Group, the upside momentum in Cable could test the 1.3190 area in the next weeks.
24-hour view: “Brexit
|• The pair stalled its intraday retracement slide and found decent support near 50-hour SMA to hit fresh six-week tops in the last hour.
|In view of analysts at Danske Bank, with a divided US Congress, we should not expect changes to economic policy and hence they maintain their view tha|
|The US Dollar Index (DXY), which tracks the greenback vs. its main competitors, remains under heavy pressure this week and is now testing lows in the|
|South Africa Business Confidence Index up to 95.8 in October from previous 93.3|
|Business Insider takes a look into the countries around the world with the safest banks.|
|Here is what you need to know.
The Democrats take the House and the Republicans hold the Senate. As of 4:50 a.m. ET, the Democrats held 219 House sea
|US stocks set to gain, Chinese stocks and dollar slip, Europe stocks rally. “Trump may now fall back on policy areas that do not require Congress.”|
|Elon Musk has repeatedly called out short sellers for damaging his company’s stock. One expert explains how the Tesla CEO, and many others, don’t fully understand shorting mechanics.|
|Scotts Miracle-Gro Co.’s shares SMG, +1.11% slid 3.7% in premarket trade Wednesday, after the lawn and garden care company missed profit and sales est|
|Shares of Investment Technology Group Inc. ITG, +0.00% shot up 7.6% in premarket trade Wednesday, after the financial technology company announced an|
|Dean Foods Co. DF, +3.36% shares fell 10% in Wednesday premarket trading after the food and beverage company reported third-quarter losses. Dean Foods|
|Shares of Michael Kors Holdings Ltd. KORS, -1.46% plunged 11% toward a one-year low in premarket trade Wednesday, after the fashion luxury group repor|
|President Donald Trump will hold a press conference Wednesday at 11:30 a.m., Press Secretary Sarah Sanders announced. The formal press conference will|
|Office Depot Inc. ODP, +2.61% said Wednesday it had net income of $60 million, or 11 cents a share, in the third quarter, down from $92 million, or 18|
|Humana Inc. HUM, +1.59% reported Wednesday third-quarter earnings that rose above expectations and raised its full-year outlook, helped by strength in|
|The U.S. dollar came under pressure Wednesday, in the wake of midterm election results that saw Democrats take hold of the House and Republicans keep|
|Crude oil may bounce but support not until lower, gold price may be gearing up to trade higher, while global indices continue to act better than expected. #c…|
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Q: Why did the White House Turkey turn down his pardon?
A: All of his money was in the market and he has nothing left to live for!
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