Media giant Walt Disney reported its third quarter earnings report on Tuesday with almost a 9 percent fall and profits of about $2.37bn year-on-year. Shares of the company fell to about 3.8 percent in after-hours trade after Disney reported an adjusted earnings of $1.62 per share. The company also announced that it will no longer stream its movies on Netflix, starting in 2019. Disney now plans to start its own online streaming services for movies, shows and sports in 2019 in a bid to bring productions directly to consumers. It is still investing in its theme parks and has planned new attractions, including Star Wars-theme lands in Anaheim and Orlando.
The Reserve Bank of New Zealand (RBNZ) will communicate its interest rate decision at 21:00 GMT, along with its rate statement which contains the outcome of the vote on cash rates. Governor of the RBNZ, Graeme Wheeler is set to make a public appearance at 22:00 GMT to shed more light on the matter. Carmaker Volkswagen is offering German customers discounts of up to €10,000 to trade in old diesel vehicles and incentives of €1,000 to €2,380 for customers opting for electric and hybrid cars.
On the commodity market, crude futures fell for the third day, the international benchmark, brent crude was seen trading at $51.90 a barrel, down by 0.5 percent. Today, the U.S Energy Information Administration releases its crude oil inventories at 14:30 GMT. Libya and Nigeria are OPEC countries free from the agreement to limit production through March 2018, officials from OPEC and non-OPEC committee expect to cut production by 1.8 million barrels a day, watch out for the inventories report today.
The asset gained momentum as from 11:00 UTC to reach yesterday’s highest record by 14:00 UTC at the 1.26838 level. This was, however, followed by a much volatile trend but managed to close the session bullishly. Today, the currency pair was quoted at its highest at the 1.26955 level at 01:00 UTC but started fluctuating from the next hour. Canada’s building permits for the month of June due at 12:30 UTC could impact trend of this one.
A look at the asset’s graph clearly depicts a downtrend since Tuesday’s session, it started dropping from the beginning around 01:00 UTC. It tumbled again as from 08:00 UTC at 144.22 yen to reach a low level of 143.510 yen by 13:00 UTC. It followed the downtrend through the rest of its session and closed bearish by 23:00 UTC. On Wednesday, the GBP/JPY pair opened on a negative note and can hence follow the same trend through today as it is trading beneath the Ichimoku Cloud.
Yesterday’s stronger than expected U.S. JOLTs report showed a record number of jobs openings in the U.S., which is in line with the positive jobs report released last Friday. This led to a huge fall in yesterday’s session from $1.18101 at 14:00 UTC till it reached a low level of $1.17386, the same hour. The EUR/USD pair continued this downtrend in today’s session as from 00:00 UTC, dragged by pullbacks. It could thus keep this bearish trend through today, consider the FX/CFD Trading.
Disney and Netflix shares can be traded on our platform with the TradeReplica tool.
Currency pairs such as the NZD/USD, EUR/NZD and AUD/NZD can be traded with the Classic Digital Options for today as New Zealand is about to announce its new cash rate.
The brent crude and the Gold vs Oil pair can be traded once they are made available on our trading platform.