By Naeem Aslam European and US futures are trading close to the flatline, as investors continue to argue that the current rally has taken the price action too high and too fast. If you look at the major stock indices, such as the S&P500 or the Nasdaq 100, you will see that these majors have … Read more
The UK economy has emerged out of recession with a marginal GDP growth of 0.6%, which is better than the forecast of 0.4%. Governor Andrew Bailey stated that rates are likely to come down rapidly. Traders should feel confident about riskier assets, but should be cautious as the UK economy’s fundamentals are still weak. The FTSE 100 is likely to experience a pullback, but as long as it trades above key levels, there may be more improvements in price action.
– Investors and traders are focusing on earnings and economic data, with the Dow Jones industrial average posting its fourth consecutive winning session.
– European markets are trading higher, with retail sales data in Europe showing better consumer confidence than expected.
– Traders are awaiting news from the Bank of England on Thursday regarding monetary policy, with expectations of no interest rate change but potential for a more hawkish stance.
– In the US, focus is on earnings, with Disney in the spotlight. Concerns are raised about their streaming business in a competitive landscape.
– Gold prices are dropping as the dollar index gains strength, with uncertainty about Fed’s interest rate decisions.
– Weekly jobless claims on Thursday will impact gold prices and Fed’s monetary policy decisions.