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Market Update – July 25 – Investors are Buying into Hopes


Optimism in China’s recovery has made a comeback and investors are buying into hopes that decisive stimulus action from Beijing will boost domestic demand. The Chinese equities jumped on Tuesday, after the country’s ruling politburo vowed to boost employment and revive a “tortuous” economic recovery. China’s powerful 24-member politburo said it would tackle unemployment, speed up issuance of local government special bonds and boost consumption of electronics, electric vehicles and other goods. The JPN225 struggled through and gains in Australia were much more muted. Futures in Europe and the US haven’t moved much as markets turn cautious ahead of this week’s key central bank announcements in Germany, the US and Japan. Wheat prices climbed to a 5-month high on Tuesday, as Russian assaults against Ukrainian ports that ship the grain intensified.

  • FX – The USDIndex is at 101.26. USDJPY is struggling for a third day in a row to overcome 142.00. GBP closed below 20-DMA yesterday and holds below it so far at 1.2840, while EUR holds above 1.11.
  • Stocks – Hong Kong jumped as much as 5% and the Hang Seng is currently up 4.0%, while the CSI 300 has rallied 2.9%.
  • CommoditiesUSOil spiked to $79 area. Oil is heading for a solid monthly gain, as output cuts start to bite and counterbalance concern that the sluggish recovery in China will cap demand. There are now more signs that Russia is making good on its pledge to rein in supplies with data showing that the country’s crude shipments fell to a 6-month low in the 4 weeks to July 16. Supply could further tighten in August, as Russian oil exports are set to be reduced further. A decline in drilling activity in the US is adding to supply concerns and the US Energy Information Administration has already revised down its short-term outlook for US production with further corrections possible unless the trend in drilling activity reverses. Also China flagged more measures to boost economic growth, aiding the outlook for energy demand just as the global market shows signs of tightening.
  • Gold – holds a floor above 50-DMA at $1955.

Today – Germany’s Ifo business survey and IMF publishes an update to its World Economic Outlook. Earnings: Microsoft, Alphabet, Visa, Verizon, UBS, Nextera.

Biggest Mover: USOIL spiked to $79.16 while today it sustains gains above 78 territory.

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Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Having completed her five-year-long studies in the UK, Andria Pichidi has been awarded a BSc in Mathematics and Physics from the University of Bath and a MSc degree in Mathematics, while she holds a postgraduate diploma (PGdip) in Actuarial Science from the University of Leicester.

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