Closing changes for the main European bourses On the week: – UK FTSE 100 -0.6% – German DAX -1.9% – French CAC -0.7% – Spain IBEX -1.4% – Italy MIB -1.9% We will have to wait and see for the next twist in the trade and Brexit sagas.
GDP forecast trimmed It’s still early in the quarter. We don’t get the preliminary reading on Q3 until October. “Negative surprises from exports and imports data and from the ISM surveys accounted for most of the decrease,” the NY Fed .
MAs,, retracements The USDCHF is following the dollar lower and in the process, is testing a cluster of support defined by the 200 and 100 hour MA, 38.2% and 50% retracement and a broken trend line retest. All comes in the 0.9915-27 area (see yellow area in the chart below).
Berkshire Hathaway earns $6.89 billion Berkshire Hathaway reported second quarter earnings of $6.89 billion on Saturday, up from $4.12 billion a year ago. Railroads, utilities and energy added $1.89 billion while the insurance business added $943 million.
From CNBC Washington correspondent Kayla Tausche The good news is that discussions are up in month-over-month terms. ForexLive
Forex news for North American trade on Aug 3, 2018: Markets: – Gold up $6 to $1213 – WTI crude down 34-cents to $$68.62 – S&P 500 up 14 points to 2480 – US 10-year yields down 4 bps to 2.95% Non-farm payrolls was close to estimates but on the soft side, including a downward…
Fiasco at Hong Kong-based OKEx A Bitcoin futures trader at OKEx was allowed to accumulate a futures position with a notional value of about $416 million leveraged at up to 20:1.
Closing changes for the major North American indexes That’s five straight weeks of gains for the S&P 500, which is now just shy of a record. Weekly: ForexLive
Price remains below topside trend line. Double top. Double bottom. The EURUSD moved to the prior low for the day at 1.15589 and bounced. We currently trade at 1.1579 on the bounce.
German debt has been trending lower This is no surprise. Germany is one of the few advanced economies that are trimming debt and debt to GDP is 64.1%. Here’s .