Alphabet Shares Down

Shares of Alphabet, the parent company of search giant Google fell sharply from a year ago in after-hours trading yesterday. Its cost-per-click number tumbled by 23 percent, much more than the 15 percent drop analysts expected. Shares of Alphabet fell by around 3 percent, with revenues of $26bn, up 21 percent compared to that of the same period in 2016. Meanwhile, companies such as McDonald’s, Caterpillar Inc., and General Motors co. are set to report their second quarter earnings today, pay attention to these.

source:Reuters, CNBC

Economic events releasing today is the German Ifo Business Climate Index for July due at 08:00 GMT, U.S. CB Consumer Confidence for July due at 14:00 GMT and New Zealand’s Trade Balance for June which is due at 22:45 GMT. Earlier today, the U.S. dollar was pulled away from a 13-month low against other major currencies ahead of the start of a Federal Reserve meeting later in the day. Also, the U.S. manufacturing and services report came above expectations on Monday, lifted the U.S. 10-year Treasury yields and thus lent support to the greenback.

Toyota Motor Corp announced it is working on an electric car which will use all solid-state batteries, thus allowing it to be recharged in just a few minutes. The Japanese multinational automotive manufacturer decided to sell its new model in Japan as from 2022. Meanwhile, Asian equities were recorded trading mixed, with Japan’s benchmark Nikkei 225 at 0.72 percent up, the Hang Seng index dropped 0.1 percent, while Australia’s ASX 200 advanced 0.84 percent.

Technical Analysis

EUR/USD

EUR/USD

On Monday evening, this currency pair traded with much volatility on the foreign exchange market but ended its session on a positive note. Today, the EUR/USD pair recorded some momentary jumps as from 01:00 UTC at $1.16376 to reach a record high of $1.16619 by 04:00 UTC. Use the Ladder Trading for this one today as the asset could be affected by economic events due later during the day.

AUD/USD

AUD/USD

Yesterday, the AUD/USD pair was quoted at a high level of $0.79593 in the early trading hours, around 09:00 UTC. However, later during the day, it recorded pullbacks as from 13:00 UTC at the 0.79500 level to reach the 0.79191 level by 16:00 UTC. Today, it was last quoted on a bullish candle at $0.79384 at 04:00 UTC. It may fluctuate ahead of the Australia’s second quarter CPI due earlier tomorrow, keep an eye.

USD/JPY

USD/JPY

Against the yen, the U.S. dollar edged up by 0.2% to 111.28 yen at 00:00 today, inching away from Monday’s low of 110.625 yen, which was the weakest level since mid-June. However, the USD/JPY pair started losing momentum as from 01:00 UTC to record a low level of 110.990 yen around 04:00 UTC. It could fall further through the day as it is recorded trading below the Ichimoku Cloud indicator.

Things to watch on the market

Tip 1

Shares of Alphabet can still be traded today after the data released. Shares of McDonald’s Caterpillar Inc., and General Motors co. can be traded with the TradeReplica tool.

 

Tip 2

It is advisable to trade on currency pairs such as the EUR/USD, GBP/USD, NZD/USD, and EUR/NZD in regards to today’s events.

 

Tip 3

Shares of Toyota can be traded on any tools available, along with Asian indices.