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Tuesday, August 16, 2022
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  • FUNDAMENTALS
    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

    A mixed start to the week in the global markets

    Markets mixed after strong US jobs data

    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

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FWNews - pulse of the forex market
  • FUNDAMENTALS
    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

    A mixed start to the week in the global markets

    Markets mixed after strong US jobs data

    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

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Home » Markets struggle to extend the ascent as concerns weigh

Markets struggle to extend the ascent as concerns weigh

by Stephen Soo
July 19, 2022 03:44
in Fundamental analysis
0
Equity markets mixed, focus shifts to Blinken-Lavrov meeting

China reported nearly 700 new COVID cases, the most since May

After a positive start to the session, US stocks reversed to finish lower overnight. Wall Street stocks were pressured by a report on Apple planning to slow hiring and spending for some teams in 2023. Although the giant highlighted that it’s not companywide and won’t affect all roles, the overall sentiment turned sour on the announcement. As a result, the S&P 500 closed down by 0.8% while the Nasdaq finished lower by 0.8% and the Dow gave up 0.7%. Also, equities failed to preserve gains as recession fears continued to persist.

In Asia, stocks traded mostly lower on Tuesday after a positive start to the week as China reported nearly 700 new COVID cases, the most since May, raising concerns about the damaging impact lockdowns have on China’s economy and the world. Still, the Shanghai Composite managed to get back to the flat-line following the initial drop. Elsewhere, the S&P/ASX 200 lost 0.56% after the the Reserve Bank of Australia’s meeting minutes showed that the board saw current rates as being “well below” the neutral rate.

European equities opened lower on Tuesday amid the ongoing concerns about a gas crisis in the region while political instability adds to uncertainty. In the UK, the Conservative Party leadership contest is entering its fourth round of ballots among MPs. On the data front, the UK’s official jobless rate stood at 3.8% in May versus the previous 3.8%, in line with estimates, while the number of people claiming jobless benefits fell by 20K in June when compared to -34.7K in the previous month.

In currencies, the dollar trades on the softer side to start the day. A turn in risk sentiment triggered some rebound in the greenback late on Monday. But the USD failed to shrug off the pressure, threatening the 107.00 mark in early European deals. Against this backdrop, EURUSD keeps targeting the 1.0200 figure, but the upside potential remains limited, especially as traders are getting more cautious ahead of the ECB policy meeting due on Thursday. Another failure around 1.0200 would trigger a retreat towards 1.0120, followed by parity. 

Tags: ASX 200Covid-19DollarDOW JONESECBEURUSDNasdaqS&P 500USUSD
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Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

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