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Morning Shot: Morning Markets And What To Look Out For This Thursday

By Rajan DhallMarket OverviewJun 15, 2017 08:51
uk.investing.com/analysis/morning-shot-200195297
Morning Shot: Morning Markets And What To Look Out For This Thursday
By Rajan Dhall   |  Jun 15, 2017 08:51
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The FOMC were more hawkish than expected yesterday evening, this came after a fall in the USD after a miss on inflation and retail sales data figures. This led US indices to trade mixed with only the Dow finishing in positive territory. In Asia, we are mixed with the ASX the worst performer down 1.2% and the Nikkei down 0.25%.

Oil fell further yesterday after a smaller than expected draw in DOE inventory levels, we now languish below the $45/bbl level at $44.70/bbl. Gold had a roller coaster of a time yesterday as it shot up after the CPI data only to hit $1280/oz and fall to close lower by roughly 0.5% after the FOMC. Copper is rebounding after 3 days of solid losses this morning, the industrial metal looks to be heading toward the 2.600 area retracing some losses. Meanwhile, DCE Iron ore is still lower by 2%, zinc and nickel have made a better start this morning up an average of 0.5%.

Lastly, keep an eye on cocoa futures today as yesterday they broke the daily resistance level of 2080 today might be another opportunity to steam through.

In FX markets, the DXY had a chance to recover the losses from the lows seen yesterday. It bounced of the 96.30 area to retrace all the move and now trades at 97. AUD/NZD is the biggest gainer of the day so far with a 0.90% change, this comes after a positive employment report where 42k was added in the employment change against the expected 10k.

Morning Stories

Barrick Gold (TO:ABX), which owns 63.9 percent of Acacia Mining (LON:ACAA), stated its chairman and Tanzania's president met on Wednesday and agreed to hold talks aimed at fixing an escalating dispute over an export ban which has hit Acacia (big news for the stock).

Expectations have gained among current and former Barclays (LON:BARC) executives that the Serious Fraud Office (SFO) plans to charge both the bank and individuals with regards to the inquiry on arrangements struck with a Qatari sovereign wealth fund in 2008.

New legislations to determine lump sum payouts for personal injury claims will cost British motor insurers and re-insurers and estimated 3.5 billion pounds ($4.5 billion) initially, consulting firm EY estimates.

Newriver Reit proposed firm placing and placing and open offer to raise >£200M, priced between 330-340p/shr

Majestic Wine (LON:WINEW) report FY17 Adj PBT £12.1M vs prev £16.8M y/y, Adj EBIT £10.9M vs prev £15.3M y/y, Rev £461.1M vs prev £413.9M y/y and Co. affrims FY19 target

DFS Furniture (LON:DFSD) states in its trading update that they anticipate FY17 EBITDA to be lower than market expectations for the current year, and in the range of £82m-£87m


What to look out for

SNB and BoE rate decisions, UK Retail Sales, Carney speaks later and Philly Fed Manufacturing.

Morning Shot: Morning Markets And What To Look Out For This Thursday
 

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Morning Shot: Morning Markets And What To Look Out For This Thursday

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Ankit Tiwari
Ankit Tiwari Mar 22, 2018 18:06
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