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Marketmind: Look on the bright side

Thursday, July 28, 2022
Marketmind: Look on the bright side © Reuters. FILE PHOTO: Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on "Monetary Policy and the State of the Economy" in Washington, U.S. July 10, 2019. REUTERS/Erin Scott/File Photo

A look at the day ahead in markets from Sujata Rao

Fed boss Jerome Powell was reticent on the future policy-tightening path, so markets, ever optimistic, took it as a sign the U.S. central bank will pivot to a slower rate-hike pace.

Note, some argue the opposite, pointing to Powell's allusion to an "unusually large" move at the next meeting. But markets chose to go with the former view, cutting rate-hike pricing by year-end to less than 100 bps and allowing the rate-sensitive Nasdaq equity index to end Wednesday 4% higher.

Twelve hours on, some introspection has crept in. Ten-year Treasury yields are up six bps while Wall Street equity futures are in the red.

What is clear is that the Fed, like the European Central Bank, will no longer offer markets explicit forward guidance, ditching a policy adopted during the low-inflation years in favour of a data-dependent approach.

So let us look at the data.

July's weak PMI prints highlighted economic recession risks while data on housing, business sentiment and consumer confidence makes it likely that second-quarter GDP, due later on Thursday, will show a contraction for the second quarter straight -- meeting the definition of a recession

And in Europe, watch German flash inflation reading for July as well as a consumer sentiment index for the euro zone. Clearly consumers are tightening their belts in the face of surging gas prices -- a confidence index for the bloc may hit a record low.

Euro zone consumer confidence: https://tmsnrt.rs/3oxBvMk

The pan-European STOXX equity index is looking to build on Wednesday's seven-week highs, looking for inspiration in Q2 earnings, which include Shell (LON:RDSa)'s record $11.5 billion profit anda record first-half from carmaker Stellantis.

Others such as Nestle and Volkswagen (ETR:VOWG_p), noted cost pressures but were optimistic on full-year earnings

Key developments that should provide more direction to markets on Thursday:

German July inflation

Meta posts revenue drop as inflation throttles ad sales

Euro zone July business sentiment index

Barclays (LON:BARC) reports first half profit slump

Italy far-right leader Meloni in pole position to be next prime minister

U.S. Q2 advance GDP data

U.S. earnings: Merck, Northrop Grumman Corp (NYSE:NOC), Pfizer (NYSE:PFE), Southwest Airlines (NYSE:LUV), Harley-Davidson (NYSE:HOG), T.Rowe Price, Apple (NASDAQ:AAPL), Intel (NASDAQ:INTC), Amazon.com Inc (NASDAQ:AMZN)

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19-08-2022 15:47:11 (UTC+7)

EUR/USD

1.0085

-0.0003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

EUR/USD

1.0085

-0.0003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

GBP/USD

1.1888

-0.0043 (-0.36%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

USD/JPY

136.51

+0.62 (+0.46%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

AUD/USD

0.6906

-0.0011 (-0.17%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (0)

USD/CAD

1.2975

+0.0028 (+0.22%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (0)

Sell (7)

EUR/JPY

137.64

+0.56 (+0.41%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

0.9657

+0.0006 (+0.06%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Gold Futures

1,767.35

-3.85 (-0.22%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Silver Futures

19.168

-0.296 (-1.52%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (2)

Copper Futures

3.6250

-0.0065 (-0.18%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (1)

Crude Oil WTI Futures

89.20

-1.30 (-1.44%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

Brent Oil Futures

95.21

-1.38 (-1.43%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Natural Gas Futures

9.090

-0.098 (-1.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

US Coffee C Futures

215.27

+0.47 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (1)

Euro Stoxx 50

3,747.75

-29.63 (-0.78%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (6)

Sell (4)

S&P 500

4,283.74

+9.70 (+0.23%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (8)

DAX

13,580.64

-116.77 (-0.85%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (2)

FTSE 100

7,526.20

-15.65 (-0.21%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (5)

Sell (5)

Hang Seng

19,772.50

+8.59 (+0.04%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (3)

US Small Cap 2000

2,000.73

+13.41 (+0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (2)

IBEX 35

8,350.97

-79.33 (-0.94%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (4)

BASF SE NA O.N.

43.263

-0.177 (-0.41%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

Bayer AG NA

53.27

-0.79 (-1.46%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (4)

Allianz SE VNA O.N.

175.91

-2.61 (-1.46%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Adidas AG

166.09

-1.43 (-0.85%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

6.327

-0.239 (-3.64%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

Siemens AG Class N

109.44

-0.82 (-0.74%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

8.597

-0.271 (-3.06%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

 EUR/USD1.0085↑ Sell
 GBP/USD1.1888Neutral
 USD/JPY136.51↑ Sell
 AUD/USD0.6906↑ Buy
 USD/CAD1.2975Neutral
 EUR/JPY137.64↑ Sell
 EUR/CHF0.9657↑ Sell
 Gold1,767.35↑ Buy
 Silver19.168↑ Buy
 Copper3.6250↑ Buy
 Crude Oil WTI89.20↑ Sell
 Brent Oil95.21↑ Sell
 Natural Gas9.090↑ Sell
 US Coffee C215.27↑ Buy
 Euro Stoxx 503,747.75Neutral
 S&P 5004,283.74Sell
 DAX13,580.64Neutral
 FTSE 1007,526.20Neutral
 Hang Seng19,772.50Neutral
 Small Cap 20002,000.73↑ Buy
 IBEX 358,350.97↑ Sell
 BASF43.263Sell
 Bayer53.27Sell
 Allianz175.91↑ Sell
 Adidas166.09↑ Sell
 Lufthansa6.327↑ Sell
 Siemens AG109.44↑ Sell
 Deutsche Bank AG8.597↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(0/ 0) # 1,725
SJC HCM6,620/ 6,720
(0/ 0) # 1,745
SJC Hanoi6,620/ 6,722
(0/ 0) # 1,747
SJC Danang6,620/ 6,722
(0/ 0) # 1,747
SJC Nhatrang6,620/ 6,722
(0/ 0) # 1,747
SJC Cantho6,620/ 6,722
(0/ 0) # 1,747
Cập nhật 19-08-2022 15:47:13
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,753.83-4.74-0.27%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$88.90+1.351.50%
Brent$94.78+1.081.12%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR22.981,7524.268,73
GBP27.175,3928.334,31
JPY167,13176,93
KRW15,2618,59
Cập nhật lúc 15:44:06 19/08/2022
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