November 2023 - Page 5 Of 6 - SCOPE MARKETS Blog

UK escapes contraction, as markets reel from Powell comments

European markets are on the back foot this morning following a US session that saw the S&P 500 finally snap an eight-day winning streak. Data out of the UK have dominated proceedings thus far, with the third quarter growth figure of 0% seeing a narrow escape after expectations we would fall into negative territory. Nonetheless, […]

by Joshua Mahony
11 months ago

China back in deflation, while bitcoin pushes higher

Chinese growth prospects took a hit overnight, with the country moving back into deflation territory after registering a -0.2% CPI figure for October. With the latest IMF forecasts signalling expectations of a GDP decline in 2024, today’s declines across both consumer and factory prices does serve to highlight the lack of positive momentum evident in […]

by Joshua Mahony
11 months ago

Friday sees wealth of UK data, bringing GBP into focus

The UK economy comes into focus this Friday with a raft of important data points being released in the wake of last week’s Bank of England rate decision. For FX traders this represents a potential opportunity as we look for increased clarity over the direction of the UK economy and monetary policy. The third quarter […]

by Joshua Mahony
11 months ago

Earnings preview: Walmart, Home Depot and Target

Walmart Walmart report their third quarter earnings on Thursday 16 November, with shareholders hoping this retail giant will continue their enviable trend of outperforming market estimates. With less than 20% of the S&P 500 left to report, Walmart represent a major driver of market sentiment given the fact that their sales activity can act as […]

by Joshua Mahony
12 months ago

Weak German and Chinese data drives energy markets lower

Asian markets have been hit hard overnight with a -6.4% October exports figure from China overshadowing an IMF growth upgrade for the year ahead. Coming off the back of a 1 trillion-yuan sovereign bond issue, there is a hope that the Chinese growth trajectory will slightly improve, but the IMF remains steadfast on the idea […]

by Joshua Mahony
12 months ago

6 Nov FX outlook – USD, EUR, GBP, CAD, AUD, NZD

USD The US dollar had a busy week but ended up being the biggest net loser off the back of a FOMC rate decision and Friday’s job report. Particular weakness has been seen against the likes of the NZD and AUD, with risk sentiment benefitting these key commodity currencies. Meanwhile, the likes of GBPUSD, EURUSD, […]

by Joshua Mahony
12 months ago