October 2023 - Page 3 Of 7 - SCOPE MARKETS Blog

PMI surveys dominate as we await big tech earnings

European markets are taking a negative tone once again today, with the optimism seen yesterday proving short-lived. The FTSE 100 has been the big underperformer in Europe, with a rising pound helping to drive valuations for overseas firms lower. From a UK perspective, the latest jobs report saw a sharp jump in claimants, although a […]

by Joshua Mahony
11 months ago

23 Oct FX outlook – USD, EUR, GBP, CAD, AUD, NZD

USD The tension in the Middle East saw investors flock towards precious metals and alternate havens such as the CHF last week. With US yields on the rise, there is a clear hesitancy to approach US treasuries as the haven it has always been, with debt levels surging higher as the cost of debt rises. […]

by Joshua Mahony
11 months ago

Markets ease lower, as attention turns to big tech earnings

Equity markets throughout Europe followed their Asian counterparts lower as geopolitical fears and elevated treasury yields continue to put downward pressure on stock valuations. Anticipation of a potential weekend ground offensive by Israel had help drive energy markets higher. However, we are seeing that move unwind somewhat in early trade today, with Israel taking their […]

by Joshua Mahony
11 months ago

Week ahead: 23-27 October

Monday: Eurozone consumer confidence A quiet start to the week sees eurozone consumer confidence data released. The gains seen over the first half of the year have taken a turn for the worst, with traders watching to see if we see a third consecutive decline. Should that come to fruition, traders could see this as […]

by Joshua Mahony
11 months ago

UK retail sales slump could help ease inflation outlook

Markets are on the back foot once again today, as rising yields and geopolitical concerns continue to dent market confidence. Last week saw selling pressure take hold on Friday as traders removed exposure in anticipation of potential escalation in the Middle East, and we are likely to see the same today ahead of an impending […]

by Joshua Mahony
11 months ago

AUDUSD bears return as rally loses steam

The Australian dollar has been on the front-foot in the wake of the RBA meeting minutes, with markets reacting to their data dependent outlook. However, that risk-on rebound for AUDUSD may be short-lived given the ongoing concern within markets that have benefitted the US dollar. Yesterday’s retail sales reading brought continued confidence of strong consumption […]

by Joshua Mahony
11 months ago