Facebook Reports Strong Second Quarter

Facebook Inc. reported a solid quarter on Wednesday, with sales growth exceeding expectations thanks to its advertising business which grew over 50 percent in the second quarter. Shares of Facebook rose by more than 4 percent to about $173 in after-hours trading. The company reported a revenue of $9.3 bn over the April to June period, profits climbed 71 percent to $3.9bn. It has been squeezing more ads into its Facebook News Feed and its photo-sharing app Instagram. Facebook’s revenue growth outshone Alphabet unit Google, its biggest rival in the online ad market.

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The U.S. will communicate its Core Durable Goods for June at 12:30 GMT today, while Japan is set to report its Retail Sales for June at 23:50 GMT. Meanwhile, companies such as Intel, the American multinational corporation and technology company, MasterCard Inc. and Twitter release their second quarter earnings report today, pay much attention to these. Yesterday, the U.K. released its GDP data and according to the report, Britain’s economy grew by 0.3 percent in the second quarter and expanded by 1.7 percent on a year-over-year basis.

Amazon Prime is now launching its first market in South East Asia and it offers its express same-day delivery service. Customers can now order a range of products, including books, electronics, groceries and clothing. The app was made available on Wednesday in Singapore on both Google’s Play store and Apple’s App store. Orders above $40 are delivered for free in a two-hour delivery window and for those who want to get their goods in an hour will have to pay an extra $9.99.

Technical Analysis

AUD/USD

AUD/USD

In yesterday’s session, the AUD/USD pair traded remarkably on the market as it followed a positive trend throughout the day. It gained momentum as from 16:00 UTC at the 0.79209 level to close this uptrend by 21:00 UTC at the 0.80113 level. The currency pair initiated its session on a bullish note today at 00:00 UTC at $0.80000 to reach a record high of $0.80558 by 03:00 UTC. It may continue to follow this uptrend in the upcoming trading hours.

EUR/USD

EUR/USD

On Wednesday, this currency pair gained momentum in the after-hours trading around 17:00 UTC at $1.16265 to close this uptrend by 21:00 UTC at $1.17470. A weaker U.S. dollar led this asset to gain value on the forex market. Today, it started picking some heights as from 01:00 UTC and reached a record high at the 1.17562 at 03:00 UTC. The Ichimoku Cloud indicator suggests a change in trend around 20:00 UTC, consider trading within this time zone.

USD/JPY

USD/JPY

The USD/JPY pair was quoted at a record high at the 112.152 level around 16:00 UTC yesterday. However, it started tumbling from the very next hour at 17:00 UTC to record a huge set of pullbacks which ended late at night by 22:00 UTC at 111.118 yen. In today’s session, the asset started losing value from the very beginning of its session at 00:00 UTC at the 111.161 level. It may continue this downtrend through today, use the FX/CFD Trading.

Things to watch on the market

Tip 1

Investors are recommended to trade on stocks of Facebook and the Alphabet vs Facebook pair as Facebook reports a stronger-than-expected second quarter report.

 

Tip 2

Consider trading on the GBP/USD, USD/JPY, and shares of Intel, MasterCard and Twitter with the TradeReplica Trading.

 

Tip 3

It is advised to trade on shares of Amazon and the Amazon vs Netflix pair as the company launches its Prime Now service in Singapore.