After hitherto strong quarterly earnings season the heavyweight, McDonald’s missed to deliver according to expectations. US-housing numbers for June were also weaker than forecasts. After jumping in April and May the growth in housing sales unexpectedly took a breather last month. Experts are nevertheless not willing to see the late figures as a token of underlying weaknesses in retail and US economic fundamentals. The weaker profits of the world’s largest restaurant retailer are mainly seen as a result of declining sales in its biggest market, Europe.
In Europe one of the leading banks, the Swiss UBS, followed up the strong banking results from the United States and beats forecast. That in spite of an expansive lawsuit settlement with US regulatory authorities over housing bonds prior to the financial crisis in 2008. UBs added 2,7 % and reached a two-year high during yesterday’s trade.
The trading week started with a fall in dollar both in relation to Japanese yen (JPY) following Prime Minister Abe’s victory in the Upper Chamber elections and in a stronger Euro. Abe has promised to keep focus on the economy. USD/JPY fell to 99,42 during Monday’s trade. Euro/USD added 100 points during Monday’s trading at 1.3215. The British Pound (GBP) stands at 1,5368 against the green back.
Gold reached its highest level in a month and jumped USD 1328 an ounce after dipping below the 1200 level only a couple of weeks ago. Silver has also recovered strongly at 20.42. For the first time in years New York crude, NYMEX, trades higher that Brent crude, both are above US 108 a barrel.
Click here https://secure.mayzus.com/partner/regist to start earning money on Forex!
The Cashmaker Forex strategy combines the intraday trading to open/close positions with the money management to increase your profits. Subscribe it here http://www.mql5.com/en/signals/1710
No comments:
Post a Comment