Market Review 06-08

Market Review 06-08

7 Reasons Why Alphabet Will Dominate

 

By Shoshanna Delventhal

 

Google parent company Alphabet Inc. (GOOGL) dominate the digital advertising space with a combined 57% hold over U.S. digital ad spend, according to eMarketer. But the two aren’t equal as far as stock performance.

 

Google has seven services that each boast more than 1 billion monthly active users (MAU), including Search, Chrome, Maps, YouTube, Google Play Store, Gmail and Android.

 

The investment bank rates Google at outperform with a $1,350 price target, reflecting a 10.3% upside from Thursday morning.

 

https://www.investopedia.com/news/7-reasons-why-alphabet-will-dominate/

 

 

 

Pound Sterling to US Dollar Exchange Rate Update: GBP/USD Could Fall Deeper into $1.29 Region

 

By Josh Ferry Woodard

 

The US Dollar (USD) looked to be on track to sustain strong gains versus the Pound (GBP) last week, as Friday’s UK data has done little to make the embattled British currency more appealing.

 

The Pound to US Dollar exchange rate fell to the interbank level of $1.29 for the first time in a fortnight on Friday morning, as Britain’s latest services PMI fell short of expectations.

 

This week will see the publication of Britain’s June and Q2 Gross Domestic Product (GDP) growth updates, which could cause GBP/USD to fall even lower if they disappoint investors too.

 

https://news.torfx.com/post/2018-08-02_pound-to-us-dollar-gbp-usd-exchange-rate-forecast-bank-of-england-rate-freeze-could-knock-back-gbp-usd/

 

 

PRECIOUS-Gold drops to lowest since March 2017 on dollar, yuan moves

 

By Reuters Staff

 

A stronger dollar combined with a slump in the Chinese currency pushed gold down to the weakest in
nearly 17 months on Friday and some analysts expect further downside.

 

Spot gold was unchanged at $1,207.56 an ounce, after earlier dropping to its lowest since March 15 last year at $1,204. For the week, it was down about 1.4 percent. U.S. gold futures fell 0.4 percent to $1,215.70 announce on Friday.

 

The greenback was also supported by strong U.S. economic data and an outlook for higher interest rates. “The most recent data suggests continued weakness for gold amid a stronger U.S. dollar index,” said John Sharma, an economist at National Australia Bank.

 

https://www.reuters.com/article/global-precious/precious-gold-drops-to-lowest-since-march-2017-on-dollar-yuan-moves-idUSL4N1UU3EB

 

 

AUD/USD and NZD/USD Fundamental Daily Forecast – Slew of Bearish Factors Weighing on Aussie, Kiwi

 

By James Hyerczyk

 

With the Australian and New Zealand Dollars seen as a proxy for Chinese growth because of Australia’s and New Zealand’s big export sectors, any weakness in China’s economy is likely to spill over into the Australian and New Zealand economies. This could slow down growth which should push any decisions from their central banks to raise rates further into the future.

 

The Fed’s assessment of the economy and its hawkish Federal Reserve statement, raised the chances of a September interest rate hike to 91.4 percent and the probability for another move in December to 68.2 percent.

 

This news drove U.S. Treasury yields higher while highlighting the divergence in monetary policies between the hawkish U.S. Federal Reserve and the dovish Reserve Banks of Australia and New Zealand, making the U.S. Dollar a more attractive investment.

 

The current downside momentum in the AUD/USD and NZD/USD suggests the Forex pairs should be under pressure all day. We’re also looking for last week’s lows at .7359 and .6762 respectively to fail.

 

https://finance.yahoo.com/news/aud-usd-nzd-usd-fundamental-071234925.html?guccounter=1

 

 

Bullish Signal Not Seen in 60 Years May Fuel S&P Rally: Jeff Saut

 

By Mark Kolakowski

 

Midterm elections to Congress are coming up in November, and a bullish sign last seen 60 years ago is being flashed by the S&P 500 Index (SPX). According to Jeffrey Saut, chief investment strategist at Raymond James, the last time two times that the index posted monthly gains in April, May, June and July during a midterm election year were in 1954 and 1958, and the market was up sharply in the remaining four months of those years, CNBC reports. “Each one of those times, the market, after a soft first part of August, rallied sharply into year-end,” he added. Saut predicts a new record high of 3,000 for the S&P 500 by year-end, representing a gain of nearly 7% from its current value, and an advance of 12.2% for the year.

 

https://www.investopedia.com/news/bullish-signal-not-seen-60-years-may-fuel-sp-rally/

 

 

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