McDonald’s Earnings Soar

McDonald’s reported a stronger-than-expected second-quarter profits and sales on Tuesday, exceeding analysts’ expectations and sending its shares to a record high. The fast food pioneer had its highest quarterly sales in five years as it got a boost on “premium hamburgers and cheap drinks,” according to the earnings statement. McDonald’s shares jumped more than 3.4 percent and reported a profit of 28 percent year-on-year. Companies such as Boeing and the social media giant, Facebook will report second quarter earnings today.

source:Business Insider, BBC News

U.K. will be releasing its second quarter gross domestic product at 08:30 GMT and this report demands much attention as figures could set new trend for the pound sterling. On Tuesday, BMW said a fully electric version of the Mini will be built at the Oxford plant, which is the main “production location” for the Mini three-door model. The U.K. government announced new diesel and petrol vehicles will be banned in the U.K. from 2040 in a bid to tackle air pollution.

Multiple economic events taking place in the U.S. for today is the U.S. New Home Sales for June due at 14:00 GMT, the Federal Open Market Committee (FOMC) Statement due at 18:00 GMT and the Fed Interest Rate Decision due at 18:00 GMT. Meanwhile, gold futures dropped in Asian trade today as investors await the latest review of interest rated by the Fed. As such, gold futures fell by 0.36 percent to $1,247.64 a troy ounce. The U.S. dollar, on the other hand, was seen steady above a 13-month low and it could change trend after U.S. data releases today.

Technical Analysis

UKOIL

UKOIL

In yesterday’s session, the brent crude traded impressively on the market as it followed an uptrend throughout the day. It recorded few momentary jumps as from 13:00 UTC to close this bullish trend by 16:00 UTC at $50.1 a barrel on Tuesday. It was quoted at a record high of $50.78 a barrel at 20:00 UTC. Today, the commodity is seen much volatile and it could fluctuate for the next few hours. The U.S. Crude oil Inventories due 14:30 UTC could alter trend of this asset, keep an eye here.

GBP/USD

GBP/USD

The GBP/USD pair reached a record high at $1.30744 around 12:00 UTC yesterday, but it started losing value from the very next hour to close this downtrend 16:00 UTC at $1.30385. It even ended its session on a bearish note at the 1.30568 level at 23:00 UTC. In today’s session, the asset started tumbling as from 02:00 UTC and consolidated as from 04:00 UTC. It may continue to fall later during the day, use the FX/CFD Trading for this one today.

SPX 500

SPX 500

On Tuesday, the S&P 500 index recorded a huge set of momentary jumps as from 07:00 UTC at 2468.2 points to close this bullish trend by 13:00 UTC at 2476.8 points. It reached a record high at the 2479.3 level around 15:00 UTC. On Wednesday, the index tumbled as from the very beginning of the session at 00:00 as it traded at 2476.5 points to reach 2474.0 points around 04:00 UTC. The Ichimoku Cloud indicator suggests a change in trend around 13:00 UTC, trade within similar hours.

Things to watch on the market

Tip 1

Shares of McDonald’s, Boeing, Facebook, and Alphabet vs Facebook pair can be traded with the TradeReplica tool.

 

Tip 2

Consider trading assets such as the EUR/GBP, GBP/USD, GBP/JPY, FTSE 100 and stocks of BMW.

 

Tip 3

Currency pairs such as the EUR/USD, AUD/USD, GBP/USD and USD/JPY are recommended as the Fed is to communicate interest rates today.