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Apple looking at 37 percent earnings growth, 42 million iPhones sold in Q3


By Stephen Silver


With Apple’s quarterly earnings scheduled for July 31 after market close, most of the analysts on the Apple beat see another quarter of significant growth year-over-year for the company.


According to the estimates, collated by Philip Elmer-DeWitt, the consensus is that Apple will post 37 percent EPS growth in the third quarter. That performance would mark Apple’s largest increase since the fourth quarter of 2015.


The analysts —10 on Wall Street and seven independent —forecasted a range between 39.8 million and 43.3 million in sales.


Ahead of the 2017 Q3 earnings announcement last July, analysts polled by CNBC predicted Apple would announce they had sold 40.7 million iPhones, and $25.52 billion in iPhone revenue. The actual number was just over 41 million, with $24.8 billion in revenue.



Yen Up as Markets Eye BOJ


By Ilya Spivak


The Japanese Yen outperformed in otherwise quiet Asia Pacific trade. The move tracked a pickup in local bond yields amid speculation that the BOJ might adjust its monetary policy settings at next week’s meeting. News reports circulating in recent days suggest officials are debating how best to insulate commercial banks from the adverse effects of longer-lasting stimulus as reflation struggles for momentum.


The most aggressive scenario might see an increase in the 10-year JGB yield target or even the policy rate, now at 0 and -0.1 percent respectively. A softer alternative may be to adjust yield curve control tolerance thresholds, allowing rates to go higher before intervening. An even more gradualist approach may be to leave policy as-is but signal that changes are on the horizon.



FTSE 100 edges up as BHP climbs on $10 billion-plus asset deal


By Carla Mozee


Investors were juggling a new round of earnings reports and assessed a deal between two FTSE 100 constituents—BHP Billiton PLC and BP PLC— with BP reaching an agreement to buy most of BHP’s U.S. shale assets for $10.5 billion. Shares of oil producer BP have the third-heaviest weighting on the benchmark, at 5.6%, according to FactSet data.


A decline in the pound against the dollar aided in drawing the FTSE 100 slightly higher. Revenue made overseas by multinational companies can be bolstered by pound weakness and, in turn, help drive up shares of those companies listed on the benchmark.



EBay Faces Steeper Declines as Outlook Darkens


By Michael Kramer


Shares of eBay Inc. (EBAY) are nearly 25% off its January highs, and shares may still have further to fall. Technical analysis suggests that eBay can fall by almost 9% more, with shares falling to nearly $31.50 from its current price around $34.60.


Analysts are also lowering their outlook for the company, trimming third-quarter earnings and revenue estimates. Price targets have also come down, after the company posted mixed second-quarter results, with revenue falling short of estimates.


The average price target on the stock has also been reduced. Since July 13, analysts have cut their price target by nearly 7% to an average of $44.56.



GBP/USD Forecast: Barnier’s no go for Brexit plan sends Sterling lower


By Mario Blascak


  • Sterling is trading at weekly lows after slumping 100 pips on Barnier’s no-go for Theresa May’s post-Brexit trade plan.
  • GBP/USD is trading flat on a weekly basis before the US second-quarter GDP data are expected to show strong growth.
  • The Bank of England is expected to hike rates next Thursday with division marking the Monetary Policy Committee (MPC) voting pattern.



Bitcoin Slumps After SEC Reject Winklevoss ETF Proposal Again


By Nick Cawley


The US Securities and Exchange Commission (SEC) sent BTC back below $8,000 Friday after it rejected a proposal by the Winklevoss brothers for a BTC ETF for the second time. The SEC said that the ruling was not based on the bitcoin/blockchain technology but on whether the markets are ‘resistant to manipulation’ and acts of fraud. The SEC is still considering the status of a variety of cryptocurrencies and their rulings will continue to move the marketplace in the future.


The recent rumor-driven rally pushed Bitcoin back to a multi-week high just under $8,500, a near 40% rise in a month.



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