Facebook is making a new move into e-commerce by expanding its “Marketplace” platform to 17 new European markets, thus connecting local buyers and sellers, the company said on Monday. The platform is being introduced this week in “Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, Norway, Portugal, Spain, Sweden, Switzerland and the Netherlands.” The marketplace was launched 10 months ago and it charges no fees to buyers and sellers and makes it easier for users to trade goods via smartphone or computer in seconds. It is currently available in the U.S., U.K., and Australia, drawing around 550 million monthly visitors.
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U.K. releases its yearly Consumer Price Index (CPI) for the month of July at 08:30 GMT today, higher readings for this report could set a bullish trend for the British pound. The U.K. market had fallen sharply at the end of last week, however, the FTSE 100 added 0.6 percent at 7,353.89 points and it could gain more heights with the help of upcoming events. The Australian dollar edged higher on Tuesday after the release of the Reserve Bank of Australia’s meeting minutes which painted a possible stronger than expected growth in 2018. This led the AUD/USD pair on a positive track with a gain of 0.23 percent.
The U.S. is set to communicate its Core retail sales and retail sales for the month of July, both at 12:30 GMT on Tuesday. This economic event demands much attention as it forms an important indicator of consumer spending and it is also considered as a key index for the U.S. economy. Elsewhere, Alibaba’s Chinese rival JD.com, China’s second largest e-commerce firm stated its net loss widened in the second quarter. Investors should closely follow Alibaba’s earnings report which is still due to be released.
Yesterday’s session clearly depicted a downtrend throughout the day as it kept losing value from its early trade as from 02:00 UTC and maintained the same trend till the end at 23:00 UTC. Today, the EUR/USD pair started losing momentum as from 02:00 UTC and it can thus follow a bearish trend later during the day. Germany released its second quarter GDP at 06:00 UTC, this event could impact trend of this asset, keep a close watch on this one.
Monday, prices of crude oil edged lower on the market due to a slowdown in Chinese refining activity growth. It recorded a high level of $52.28 a barrel around 14:00 UTC yesterday, but started tumbling from the very next hour, dragged by pullbacks to reach the $50.60 level by 19:00 UTC. On Tuesday, the brent crude future gained 0.28 percent to $50.85 a barrel, around 02:00 UTC.
Yesterday night, the S&P 500 posted its best day since April 24, when it rose by 1.8 percent. Monday, the Wall Street index gained 1 percent as it traded at 2,465.84 points around 20:00 UTC and even ended its session bullishly. Today, the index opened its session on a positive note at the 2467.9 level at 00:00 UTC and reached a record high of 2471.6 points, the very next hour, consider trading within similar ranges for today.
Things to watch on the market
Stocks of Facebook and the Nasdaq index can be traded with the TradeReplica tool.
Assets such as the EUR/GBP, GBP/USD, AUD/USD and the FTSE MIB F-JUN17 index can be traded with the FX/CFD tool.
Consider trading on the EUR/USD, AUD/USD, USD/JPY and Wall Street indices. It is also recommended to check stocks of Alibaba as this could be impacted by the release of its earnings report.