- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile trading platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Autochartist
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile trading platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Autochartist
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Home
- News & Analysis
- Economic Updates
- Wall st rallies on tech lead, ECB turns hawkish, kind of
- Home
- News & Analysis
- Economic Updates
- Wall st rallies on tech lead, ECB turns hawkish, kind of
News & AnalysisNews & AnalysisTech stocks led US equities higher overnight, the Nasdaq rallied 1.3% making it three up sessions on the trot, led by tech heavyweights Amazon (AMZN) and a blockbuster session from Tesla (TSLA) which finished up almost 10% after a positive earnings report.
Weak US figures saw a drop in Treasury yields as rate hike expectations took a dovish dive, pressuring the greenback and pushing the US Dollar index under the 107 handle, another headwind for DXY was the ECB’s hawkish rate hike.
While most market analysts expected the ECB to go through with their long telegraphed 25bp hike, there was some pricing in of a 50, resulting in in a fairly muted rally in EUR, which quickly retraced as the accompanying forward guidance was changed to a “meeting-by-meeting” approach. This is a more dovish tone as compared with the aggressive forward guidance from the June meeting.
The big mover in the commodity space was crude oil, tumbling around 3% as demand fears eased somewhat and an improving supply outlook, sending WTI oil back under the $100 a barrel level.
Looking forward, corporate earning out of the US will be the big driver in US equities, while PMI figures out of Europe, the UK and the US later today should see some FX moves in their respective currencies.
Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
Tech and Bitcoin drop, Oil and Gas jump in mixed US session
US stocks were mixed in a quiet session, the Dow and S&P 500 eked out small gains whilst against a backdrop of a the Federal Reserve meeting on Wednesday, the Tech heavy Nasdaq saw a modest decline. With a news quiet Monday behind us, there is a full calendar ahead with a slew of corporate earnings and of course the big one, the FOMC policy ...
July 26, 2022Read More >Previous Article
Philip Morris exceeds Q2 expectations – the stock gains
Philip Morris International Inc. (PM) reported its second quarter financial results before the market open on Wall Street on Thursday. World's larg...
July 22, 2022Read More >
- Trading