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Market Updates

Colombia stocks lower at close of trade; COLCAP down 0.03%

Investing.com – Colombia stocks were lower after the close on Monday, as losses in the Investment, Industrials and Agriculture sectors led shares lower.

At the close in Colombia, the COLCAP lost 0.03% to hit a new 1-month low.

The best performers of the session on the COLCAP were Celsia SA (CN:CEL), which rose 1.11% or 50.0 points to trade at 4565.0 at the close. Meanwhile, Interconexion Electrica SA (CN:ISA) added 1.04% or 140.0 points to end at 13600.0 and Empresa De Energia De Bogota (CN:EEB) was up 1.00% or 20.0 points to 2020.0 in late trade.

The worst performers of the session were Grupo Argos SA (CN:ARG), which fell 1.60% or 340.0 points to trade at 20860.0 at the close. Ecopetrol SA (CN:ECO) declined 0.74% or 10.0 points to end at 1340.0 and Cemex Latam Holdings SA (CN:CLH) was down 0.52% or 60.0 points to 11540.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 0 to 0.

Shares in Empresa De Energia De Bogota (CN:EEB) rose to all time highs; rising 1.00% or 20.0 to 2020.0.

US coffee C for September delivery was up 1.14% or 1.40 to $124.70 . Elsewhere in commodities trading, US cocoa for delivery in September fell 1.71% or 32.00 to hit $1834.50 , while the August Gold Futures contract fell 0.91% or 11.46 to trade at $1244.94 a troy ounce.

USD/COP was down 0.01% to 3021.00, while BRL/COP rose 1.27% to 915.29.

The US Dollar Index Futures was up 0.14% at 97.12.

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Dollar turns positive despite downbeat economic data

Investing.com – The dollar moved into positive territory against a basket of global currencies, despite dwindling investor confidence of stronger U.S. second-quarter economic growth, after economic data undershot expectations.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.07% to 97.05.

Investors scaled back expectations of robust second-quarter economic growth, as new orders for key U.S.-made capital goods unexpectedly fell in May suggesting a slowdown in the manufacturing sector.

The Commerce Department said on Monday that overall orders for durable goods, fell 1.1% in May, the biggest decline since November.

Analysts had forecast durable goods orders to decline by -0.6%.

During the week, investors are expected to closely monitor speeches from several Fed officials for clues about future monetary policy.

The dollar has struggled to hold onto gains in recent sessions, extending its losing streak to two-weeks amid moves higher in both the pound and euro.

GBP/USD traded roughly flat at $1.2718, falling from session highs amid confirmation that an agreement has been reached which will see the Democratic Unionist Party (DUP) back Theresa May’s minority party.

EUR/USD dipped by 0.07% to $1.1187, while EUR/GBP traded a notch below break-even at 0.8797.

The oil-linked Canadian dollar regained momentum against the greenback, with USD/CAD at C$1.3247, down 0.15%, as oil prices rebounded from recent lows.

Demand for safe havens remained subdued, as the dollar added to gains against safe-haven yen, with USD/JPY at Y111.64, up 0.31%.

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Portugal stocks higher at close of trade; PSI 20 up 0.65%

Investing.com – Portugal stocks were higher after the close on Monday, as gains in the Telecoms, Financials and Consumer Services sectors led shares higher.

At the close in Lisbon, the PSI 20 gained 0.65%.

The best performers of the session on the PSI 20 were Banco Comercial Portugues (LS:BCP), which rose 2.07% or 0.0048 points to trade at 0.2362 at the close. Meanwhile, Pharol SGPS SA (LS:PHRA) added 1.97% or 0.0060 points to end at 0.3100 and Mota Engil (LS:MOTA) was up 1.60% or 0.0410 points to 2.6080 in late trade.

The worst performers of the session were Ibersol SGPS (LS:IBS), which fell 1.58% or 0.230 points to trade at 14.370 at the close. Novabase SGPS (LS:NBA) declined 1.21% or 0.039 points to end at 3.171 and EDP (LS:EDP) was down 0.91% or 0.0270 points to 2.9440.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 28 to 9 and 5 ended unchanged.

Brent oil for September delivery was up 0.59% or 0.27 to $46.02 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.86% or 0.37 to hit $43.38 a barrel, while the August Gold Futures contract fell 0.95% or 11.88 to trade at $1244.52 a troy ounce.

EUR/USD was down 0.07% to 1.1187, while EUR/GBP fell 0.03% to 0.8796.

The US Dollar Index Futures was up 0.07% at 97.05.

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Denmark stocks higher at close of trade; OMX Copenhagen 20 up 0.03%

Investing.com – Denmark stocks were higher after the close on Monday, as gains in the Industrials, Financials and Personal&Household Goods sectors led shares higher.

At the close in Copenhagen, the OMX Copenhagen 20 rose 0.03%.

The best performers of the session on the OMX Copenhagen 20 were AP Moeller - Maersk A/S B (CO:MAERSKb), which rose 1.90% or 240 points to trade at 12890 at the close. Meanwhile, AP Moeller - Maersk A/S A (CO:MAERSKa) added 1.83% or 220 points to end at 12250 and FLSmidth&Co. (CO:FLS) was up 1.38% or 5.9 points to 433.9 in late trade.

The worst performers of the session were Vestas Wind Systems A/S (CO:VWS), which fell 1.53% or 9.0 points to trade at 579.5 at the close. Genmab (CO:GEN) declined 1.49% or 22.0 points to end at 1456.0 and Coloplast A/S (CO:COLOb) was down 0.78% or 4.5 points to 574.0.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 69 to 53 and 14 ended unchanged.

Shares in FLSmidth&Co. (CO:FLS) rose to 5-year highs; up 1.38% or 5.9 to 433.9.

Crude oil for August delivery was up 0.81% or 0.35 to $43.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.59% or 0.27 to hit $46.02 a barrel, while the August Gold Futures contract fell 0.94% or 11.87 to trade at $1244.53 a troy ounce.

USD/DKK was up 0.05% to 6.6479, while EUR/DKK fell 0.01% to 7.4360.

The US Dollar Index Futures was up 0.08% at 97.06.

Read More

Spain stocks higher at close of trade; IBEX 35 up 0.62%

Investing.com – Spain stocks were higher after the close on Monday, as gains in the Chemical, Petroleum&Plastic, Financial Services&Real Estate and Telecoms&IT sectors led shares higher.

At the close in Madrid, the IBEX 35 rose 0.62%.

The best performers of the session on the IBEX 35 were Iberdrola (MC:IBE), which rose 1.92% or 0.136 points to trade at 7.206 at the close. Meanwhile, International Consolidated Airlines Group SA (MC:ICAG) added 1.51% or 0.103 points to end at 6.924 and B. Sabadell (MC:SABE) was up 1.46% or 0.025 points to 1.733 in late trade.

The worst performers of the session were Acerinox (MC:ACX), which fell 1.53% or 0.185 points to trade at 11.870 at the close. Grifols SA (MC:GRLS) declined 0.67% or 0.175 points to end at 26.070 and Acciona (MC:ANA) was down 0.62% or 0.520 points to 83.470.

Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 106 to 63 and 13 ended unchanged.

Gold Futures for August delivery was down 0.94% or 11.79 to $1244.61 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.77% or 0.33 to hit $43.34 a barrel, while the September Brent oil contract rose 0.57% or 0.26 to trade at $46.01 a barrel.

EUR/USD was down 0.09% to 1.1185, while EUR/GBP fell 0.03% to 0.8796.

The US Dollar Index Futures was up 0.08% at 97.06.

Read More

Italy stocks higher at close of trade; Investing.com Italy 40 up 0.74%

Investing.com – Italy stocks were higher after the close on Monday, as gains in the Financials, Utilities and Travel&Leisure sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 gained 0.74%.

The best performers of the session on the Investing.com Italy 40 were Yoox Net-A-Porter Group SpA (MI:YNAP), which rose 8.73% or 2.04 points to trade at 25.41 at the close. Meanwhile, Banco Bpm (MI:BAMI) added 3.79% or 0.102 points to end at 2.796 and Intesa Sanpaolo (MI:ISP) was up 3.52% or 0.092 points to 2.708 in late trade.

The worst performers of the session were STMicroelectronics (MI:STM), which fell 3.28% or 0.440 points to trade at 12.960 at the close. Prysmian (MI:PRY) declined 1.28% or 0.34 points to end at 26.20 and Telecom Italia (MI:TLIT) was down 1.10% or 0.0090 points to 0.8060.

Rising stocks outnumbered declining ones on the Milan Stock Exchange by 214 to 143 and 15 ended unchanged.

Crude oil for August delivery was up 0.77% or 0.33 to $43.34 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.57% or 0.26 to hit $46.01 a barrel, while the August Gold Futures contract fell 0.92% or 11.59 to trade at $1244.81 a troy ounce.

EUR/USD was down 0.09% to 1.1185, while EUR/GBP fell 0.03% to 0.8796.

The US Dollar Index Futures was up 0.08% at 97.06.

Read More

U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.33%

Investing.com – U.K. stocks were higher after the close on Monday, as gains in the Industrial Metals&Mining, Banking and Household Goods&Home Construction sectors led shares higher.

At the close in London, the Investing.com United Kingdom 100 rose 0.33%.

The best performers of the session on the Investing.com United Kingdom 100 were Whitbread PLC (LON:WTB), which rose 2.17% or 86.00 points to trade at 4045.00 at the close. Meanwhile, International Consolidated Airlines Group S.A. (LON:ICAG) added 2.09% or 12.50 points to end at 611.00 and Capita PLC (LON:CPI) was up 2.02% or 14.00 points to 705.50 in late trade.

The worst performers of the session were Fresnillo PLC (LON:FRES), which fell 3.12% or 50.00 points to trade at 1555.00 at the close. Antofagasta PLC (LON:ANTO) declined 2.72% or 21.00 points to end at 751.00 and Provident Financial (LON:PFG) was down 1.68% or 41.00 points to 2399.00.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1086 to 850 and 437 ended unchanged.

Gold Futures for August delivery was down 0.93% or 11.69 to $1244.71 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.77% or 0.33 to hit $43.34 a barrel, while the September Brent oil contract rose 0.55% or 0.25 to trade at $46.00 a barrel.

GBP/USD was up 0.03% to 1.2723, while EUR/GBP fell 0.08% to 0.8792.

The US Dollar Index Futures was up 0.05% at 97.03.

Read More

Poland stocks higher at close of trade; WIG30 up 1.47%

Investing.com – Poland stocks were higher after the close on Monday, as gains in the Banking, Chemicals and Construction sectors led shares higher.

At the close in Warsaw, the WIG30 rose 1.47% to hit a new 1-month high.

The best performers of the session on the WIG30 were Bank Polska Kasa Opieki SA (WA:PEO), which rose 4.16% or 5.06 points to trade at 126.78 at the close. Meanwhile, mBank SA (WA:MBK) added 3.89% or 17.40 points to end at 465.00 and Synthos SA (WA:SNS) was up 3.62% or 0.160 points to 4.580 in late trade.

The worst performers of the session were Kernel Holding SA (WA:KER), which fell 3.17% or 2.15 points to trade at 65.60 at the close. Asseco Poland SA (WA:ACPP) declined 1.04% or 0.52 points to end at 49.40 and Polski Koncern Naftowy ORLEN SA (WA:PKN) was down 0.95% or 1.12 points to 117.33.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 251 to 245 and 186 ended unchanged.

Shares in mBank SA (WA:MBK) rose to 52-week highs; gaining 3.89% or 17.40 to 465.00.

Crude oil for August delivery was up 0.81% or 0.35 to $43.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.57% or 0.26 to hit $46.01 a barrel, while the August Gold Futures contract fell 0.90% or 11.26 to trade at $1245.14 a troy ounce.

EUR/PLN was down 0.32% to 4.2097, while USD/PLN fell 0.33% to 3.7601.

The US Dollar Index Futures was down 0.01% at 96.97.

Read More

Norway stocks higher at close of trade; Oslo OBX up 0.03%

Investing.com – Norway stocks were higher after the close on Monday, as gains in the Auto&components, Telecoms and Banking sectors led shares higher.

At the close in Oslo, the Oslo OBX rose 0.03%.

The best performers of the session on the Oslo OBX were Norwegian Air Shuttle ASA (OL:NWC), which rose 2.65% or 6.3 points to trade at 244.0 at the close. Meanwhile, Petroleum Geo - Services ASA (OL:PGS) added 2.16% or 0.31 points to end at 14.68 and DnB ASA (OL:DNB) was up 1.18% or 1.6 points to 137.5 in late trade.

The worst performers of the session were Nordic Nanovector ASA (OL:NANOV), which fell 4.97% or 4.25 points to trade at 81.30 at the close. Grieg Seafood (OL:GSFO) declined 3.54% or 2.20 points to end at 60.00 and DNO International ASA (OL:DNO) was down 2.86% or 0.22 points to 7.29.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 92 to 80 and 29 ended unchanged.

Crude oil for August delivery was up 0.86% or 0.37 to $43.38 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.59% or 0.27 to hit $46.02 a barrel, while the August Gold Futures contract fell 0.95% or 11.88 to trade at $1244.52 a troy ounce.

EUR/NOK was up 0.23% to 9.4814, while USD/NOK rose 0.24% to 8.4680.

The US Dollar Index Futures was down 0.02% at 96.96.

Read More

U.S. stocks lack direction as tech stocks weigh, data disappoints

Investing.com – Wall Street was unable to hold earlier gains as tech stocks once again weighed on sentiment Monday and investors saw little encouragement from the day’s macro data.

At 11:36AM ET (15:36GMT), the Dow Jones advanced 24 points, or 0.11%, the S&P 500 inched up less than a point or 0.01%, while the Nasdaq Composite traded down 30 points, or 0.47%.

Despite an initial open with solid gains across the three major indices, buying enthusiasm petered out as trading reached the midday mark.

The Nasdaq turned red as tech stocks once again sold off, pulling both the Dow, that had gained as much as 100 points, and the S&P back towards the unchanged mark.

In the major economic report for Monday, investors found little solace as durable goods orders slumped more than forecast and an expected recovery in the core reading was much weaker than consensus estimates.

The dollar slipped against major rivals on Monday as market participants digested the data and the most recent remarks from Federal Reserve (Fed) policymakers.

Earlier on Monday, San Francisco Fed president John Williams reiterated his stance that rates should move higher gradually in an effort to maintain sustainable economic growth.

Fed governor Jerome Powell made no comments on monetary policy or the outlook for the U.S. economy in a speech that was largely a rehash of last week’s remarks that he believed there was room to ease some regulations on banks.

New York Fed chief William Dudley continued his call for more tightening, explaining that easing financial conditions justified the further removal of accommodation.

As markets wait for Fed chair Janet Yellen’s speech on global economics Tuesday for any new insight on the timing of when the Fed will next raise interest rates and/or begin the reduction of its $4.5 trillion balance sheet, they may find an appetizer as former head of the U.S. central bank Ben Bernanke delivers a speech titled “When growth is not enough” at 1:30PM ET (17:30GMT).

Markets continue to disagree with the Fed’s projection that it will hike rates once more this year, pricing the odds of another increase by December at just 39%, according to Investing.com's Fed Rate Monitor Tool.

In commodities markets, gold remained under pressure on Monday although the precious metal recovered from session lows.

A large sell order sent gold tumbling 1.7% in just seconds, though most analysts suggested that the trade was likely a mistake.

Meanwhile, oil had trouble finding direction on Monday as an early rebound after five straight weeks of losses seemed to fade as black gold remained under pressure from constantly increasing U.S. shale production.

Although Brent managed to return to positive territory after losses in early morning trade, both the London barrel and West Texas Intermediate remained far from the session’s earlier recovery.

U.S. crude futures gained 0.37% to $43.17 by 11:40AM ET (15:40GMT), while Brent oil rose 0.11% to $45.80.

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Dollar lower as central bank speakers eyed

Investing.com - The dollar slid lower against a basket of the other major currencies on Monday amid lingering investor doubts over whether the Federal Reserve will raise interest rates again later this year.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 96.91 by 11.00 ET, adding to Friday’s losses when it fell 0.37%.

The dollar has come under pressure in recent sessions as lackluster economic reports raised questions over the Fed’s plans to tighten monetary policy.

The Commerce Department reported Monday that U.S. durable goods orders unexpectedly fell by 1.1% in May after declining 0.9% in April, pointing to a loss of momentum in the manufacturing sector.

The Fed raised interest rates for the second time this year in June and stuck to its projection for one more rate hike this year despite the subdued inflation outlook, but investors think the pace of its tightening will be much slower than policymakers want.

Futures traders are pricing in less than a 15% chance of a hike at the Fed's September meeting, according to Investing.com’s Fed Rate Monitor Tool. Odds of a December increase are seen at about 35%.

Earlier Monday, San Francisco Fed President John Williams said the Fed needs to raise rates gradually or the economy runs the risk of overheating.

Investors were looking ahead to a speech by Fed Chair Janet Yellen on Tuesday for fresh indications on the path of interest rates and the Fed’s plans to trim its balance sheet.

Meanwhile, European Central Bank Mario Draghi was to speak later Monday and his remarks would be watched for signs that the bank is moving towards a reduction of its stimulus program.

The dollar was a touch higher against the yen, with USD/JPY at 111.39.

The euro rose to one-week highs, with EUR/USD last trading at 1.1202.

Sterling also touched one week highs after British Prime Minister Theresa May secured an agreement with Northern Ireland’s DUP party.

GBP/USD touched highs of 1.2759 and was last at 1.2736.

Read More

Wall St higher as tech stocks, banks firm

Investing.com - U.S. stocks were higher early Monday as techs and banks firmed.
The DJI was up 0.41% at 10:30 ET. The S&P 500 added 0.40%.
The tech-heavy Nasdaq composite was up 0.30%.
The dollar index fell back below 97 as durable goods orders for May missed estimates.
The market odds of a further Fed rate hike this year have eased.
Investors are looking to Fed Chair Janet Yellen's speech on Tuesday for further guidance on U.S. monetary policy.
Oil reversed early gains of over 1% as U.S. drilling activity continued to advance.
(NASDAQ:Apple) added 0.84% as (NYSE:Goldman Sachs) advanced 1.16%.

Read More

U.S. stock index futures higher ahead of data

Investing.com - U.S. stock index futures were higher Monday ahead of U.S. data as oil gave most of its early gains.
The Dow futures was up 0.32% at 8:45 ET. TheDJI closed off 0.01% Friday.
The S&P 500 futures added 0.26%. The tech-heavy Nasdaq 100 futures rose 0.45%.
Oil was steady after gains of over 1% earlier in the session.
Baker Hughes rig count data Friday showed a further increase in U.S. drilling activity in the past week.
The dollar index fell below the 97 mark as bets of a further U.S. rate hike this year eased.
Investing.com's Fed Rate Monitor Tool shows only a 36% chance of a December rate hike.
Durable goods orders for May missed estimates.
Former Federal Reserve chairman Ben Bernanke is due to deliver a speech later Monday at the ECB's banking forum.
Fed Chair Janet Yellen's speech on Tuesday will be closely followed for any further clues on monetary policy.
Investors are also looking for any developments in the Senate Republican healthcare bill.

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Dollar touches days lows after U.S. durables miss

Investing.com - The dollar touched the day’s lows against a currency basket on Monday after data showing that U.S. durable goods orders fell again in May underlined doubts over whether the Federal Reserve will raise interest rates again later this year.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% to 96.84 by 08.47 ET, adding to Friday’s losses when it fell 0.37%.

The Commerce Department reported that U.S. durable goods orders unexpectedly fell by 1.1% in May after declining 0.9% in April, pointing to a loss of momentum in the manufacturing sector.

The dollar was already under pressure after recent lackluster economic reports raised questions over the Fed’s plans to tighten monetary policy.

The Fed raised interest rates for the second time this year earlier in June and stuck to its projection for one more rate hike this year despite the subdued inflation outlook, but investors think the pace of its tightening will be much slower than policymakers want.

Futures traders are pricing in less than a 15% chance of a hike at the Fed's September meeting, according to Investing.com’s Fed Rate Monitor Tool. Odds of a December increase was seen at about 35%.

Investors were looking ahead to a speech by Fed Chair Janet Yellen on Tuesday for fresh indications on the path of interest rates and the Fed’s plans to trim its balance sheet.

Meanwhile, European Central Bank Mario Draghi was to speak later Monday and his remarks would be watched for signs that the bank is moving towards a reduction of its stimulus program.

The dollar pared gains against the yen, with USD/JPY last at 111.38, off intra-day highs of 111.72.

The euro rose to one-week highs, with EUR/USD adding 0.21% to trade at 1.1217.

Sterling also touched one week highs after British Prime Minister Theresa May secured an agreement with Northern Ireland’s DUP party.

GBP/USD touched highs of 1.2759 and was last at 1.2737.

Read More

Oil edges higher to start the week but glut concerns hang over market

Investing.com - Oil prices were higher in North American trade on Monday, albeit off the best levels of the session as concerns over booming shale output growth in the U.S. remained in focus.

The U.S. West Texas Intermediate crude August contract was at $43.30 a barrel by 8:50AM ET (1250GMT), up 29 cents, or around 0.7%. It touched its lowest since August 11 at $42.05 on Wednesday last week.

Elsewhere, Brent oil for September delivery on the ICE Futures Exchange in London tacked on 26 cents to $46.01 a barrel, after hitting $44.35 last Wednesday, a level not seen since November 14.

WTI lost $1.73, or about 3.9%, last week, while Brent fell $1.67, or roughly 3.8%. Both have now posted losses five weeks in a row, which marks the longest weekly losing streak since August 2015.

Crude reached bear-market territory last week amid concern that the ongoing rebound in U.S. shale production is derailing efforts by other major producers to rebalance the market.

U.S. drillers last week added rigs for the 23rd week in a row, according to data from energy services company Baker Hughes, the longest such streak on record.

The U.S. rig count rose by 11 to 758, extending a year-long drilling recovery to the highest level since April 2014, implying that further gains in domestic production are ahead.

The increase in U.S. drilling activity and shale production has mostly offset efforts by OPEC and other producers to cut output in a move to prop up the market.

In May, OPEC and some non-OPEC producers extended a deal to cut 1.8 million barrels per day in supply until March 2018.

So far, the production-cut agreement has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria, and a relentless increase in U.S. shale oil output.

In the week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer.

Meanwhile, traders will also continue to pay close attention to comments from global oil producers for evidence that they are complying with their agreement to reduce output this year.

Elsewhere on Nymex, gasoline futures for August inched up 0.7 cents, or 0.6%, to $1.430 a gallon, while August heating oil gained 1.1 cents to $1.390 a gallon.

Natural gas futures for August delivery rallied 5.5 cents to $3.006 per million British thermal units.

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U.S. natural gas futures kick off the week with strong gains

Investing.com - U.S. natural gas futures started the week with strong gains on Monday, extending their recovery from three-month lows as updated weather forecasting models pointed to increased summer demand in the weeks ahead.

U.S. natural gas for August delivery was at $2.997 per million British thermal units by 8:40AM ET (1240GMT), up 4.6 cents, or around 1.6%. It fell to its lowest since March 8 at $2.875 on Thursday of last week.

Natural gas saw a loss of roughly 3.6% last week.

Temperatures will warm back into the upper 80s to 90s Fahrenheit late in the week over the southern and eastern U.S. as high pressure returns.

Longer-term models showed the western, central, and southern U.S. will be very warm to hot through July 9, as high pressure dominates.

Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on summer heating demand.

Gas use typically hits a seasonal low with spring's mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning.

Nearly 50% of all U.S. households use gas for heating.

Total natural gas in storage currently stands at 2.770 trillion cubic feet, according to the U.S. Energy Information Administration, 10.4% lower than levels at this time a year ago but 7.4% above the five-year average for this time of year.

Market participants looked ahead to weekly storage data due on Thursday, which is expected to show a build in a range between 50 and 61 billion cubic feet in the week ended June 23.

That compares with a gain of 61 billion cubic feet in the preceding week, an increase of 37 billion a year earlier and a five-year average rise of 72 billion cubic feet.

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U.S. durable goods slump more than expected in May

Investing.com - U.S. orders for long lasting manufactured goods fell more than forecast in May, while the core reading bounced back only slightly from a prior decline, dampening optimism over the U.S. economy, according to official data released on Monday.

Total durable goods orders, which include transportation items, decreased by 1.1% last month, the Commerce Department said, compared to economists' expectations for a decline of 0.6%.

April’s orders were revised down to show a drop of 0.9% from a previously reported 0.8% decrease.

Durable goods are typically bulky or heavy manufactured products designed to last at least three years.

Core durable goods orders, which exclude volatile transportation items, inched up by 0.1% last month, compared to forecasts for a 0.5% gain.

April's core durable goods orders showed a 0.5% decline.

Durable orders excluding defense fell by 0.6% in May, compared to the prior month’s 0.9% decrease.

Durable goods excluding defense and aircrafts dropped by 0.2% in May, compared to expectations for a 0.3% gain.

The previous month registered a 0.2% rise, revised from an initial increase of 0.1%.

After the report, EUR/USD was trading at 1.1207 from around 1.1187 ahead of the publication; GBP/USD was at 1.2747 from 1.2732 earlier; while USD/JPY was at 111.49 from 111.67 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, traded at 96.91 compared to 97.05 prior to the release.

Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures gained 70 points, or 0.33%, the S&P 500 futures rose 7 points, or 0.27%, while the Nasdaq 100 futures traded up 27 points, or 0.46%.

Elsewhere, in the commodities market, gold futures traded at $1,241.98 a troy ounce, compared to $1,238.02 ahead of the data, while crude oil traded at $43.20 a barrel from $43.12 earlier.

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Is producing original content a mistake for Facebook?

Investing.com - After Alphabet (NASDAQ:GOOGL) and Apple (NASDAQ:AAPL), it is now time for Facebook (NASDAQ:FB) to make its first step into original programming. According to sources familiar with the matter, Facebook reached out to Hollywood studios about producing TV quality shows.
Facebook is reportedly willing to commit as much as 3 million dollars per episode produced, according to the Wall Street Journal. Among other shows said to being in the works are "Strangers", a relationship drama, and "Loosely Exactly Nicole", a comedy cancelled by Viacom's MTV earlier this year.
Unfortunately, Facebook is rather late to the party, and many tech giants are already running similar operations, with Netflix (NASDAQ:NFLX) and Amazon (NASDAQ:AMZN) leading the pack in terms of content production.
Facebook is unlikely to compete with either soon, and its efforts are more likely an attempt to not fall behind Apple and Alphabet. Apple has recently hired former Sony executives and is looking to create shows for Apple Music, while Alphabet launched a subscription based version of YouTube called YouTube Red, featuring original content from prevalent YouTubers.
Investors should monitor the situation for a few reasons. First, original content is known to be an expensive venture, burning through cash, which will affect cash flows and balance sheets of all the companies involved.
Second, aggregating user submitted content and creating your own are two very different ventures, and it is questionable whether Facebook, Apple or Alphabet has the expertise needed to succeed in this field.
Finally, the original content space is crowded. With Netflix, HBO and Amazon already operating at a large scale, Facebook's, Alphabet's or Apple's ability to grab a share of the viewership is anything but guaranteed.

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Top 5 Things to Know in the Market on Monday

Investing.com - Here are the top five things you need to know in financial markets on Monday, June 26:

1. Oil starts the week on high note

Oil prices were higher to start the week, but gains were limited amid lingering concerns over strong shale output growth in the U.S.

U.S. crude was at $43.39 a barrel in early New York trade, up 40 cents, or around 0.9%, while Brent oil tacked on 35 cents to $46.11 a barrel.

WTI lost $1.73, or about 3.9%, last week, while Brent fell $1.67, or roughly 3.8%. Both have now posted losses five weeks in a row, which marks the longest weekly losing streak since August 2015.

Oil prices have been under pressure in recent weeks as concern over rising U.S. shale output offset production cuts by OPEC and non-OPEC members.

2. Global stocks enjoy a solid start to the week

Global stock markets got off to a firm start to the week amid optimism for global growth.

On Wall Street, the tech-heavy Nasdaq 100 futures pointed to a gain of 17 points, or roughly 0.3%, at the open, the blue-chip Dow futures rose 60 points, or about 0.3%, while the S&P 500 futures ticked up 6 points, or around 0.2%.

In Europe, stocks staged broad gains, as banks rallied after Italy reached a deal on two failed regional banks and consumer bellwether Nestle (SIX:NESN) hit a record high after becoming the next target of activist investor Third Point.

Earlier, Asian shares ended mostly in positive territory, as tech led gains.

3. Gold nose dives more than 1% in seconds

Gold prices were sharply lower, as investors looked ahead to comments from key Federal Reserve officials and a raft of U.S. economic data in the week ahead for further signs of the central bank's likely rate hike trajectory through the end of the year.

Comex gold futures were at $1,241.95 a troy ounce, down almost 1.2%. It plunged by as much as 1.7% in a matter of seconds in thin overnight trade to as low as $1,236.53, a level not seen since May 16.

4. Ethereum sinks almost 20%

The red-hot cryptocurrency Ethereum came under heavy selling pressure, as investors appeared to take profit on the recent rally that has seen it touch record highs.

Prices dropped by as much as 19.3% on the U.S.-based GDAX exchange operated by Coinbase to a low of $250.00. It was last at $255.60 in early trade, down $50.80, or around 16.6%.

The digital currency is down roughly 35% over the past two weeks. It remains up over 2,000% so far for the year.

5. ECB's "Forum on Central Banking"

The fourth annual European Central Bank "Forum on Central Banking" kicks off in Portugal on Monday. It will focus on investment and growth in advanced economies.

ECB President Mario Draghi and Former Federal Reserve Chair Ben Bernanke will open the Forum with dinner speeches later in the global day.

The highlight of the summit is likely to be Wednesday's panel discussion including Draghi, Bank of England Governor Mark Carney, Bank of Japan Governor Haruhiko Kuroda and Bank of Canada Governor Stephen Poloz.

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Ethereum sinks almost 20% as bearish momentum takes hold

Investing.com - The red-hot cryptocurrency Ethereum was under heavy selling pressure on Monday, as investors appeared to take profit on the recent rally that has seen it touch record highs.

Prices dropped by as much as 19.3% on the U.S.-based GDAX exchange operated by Coinbase to a low of $250.00. It was last at $255.60 by 5:20AM ET (0920GMT), down $50.80, or around 16.6%.

Last week Ethereum plunged to as low as 10 cents from around $317 in a matter of seconds in an apparent flash crash.

The digital currency is down roughly 35% over the past two weeks. It remains up over 2,000% so far for the year.

Meanwhile, Bitcoin struggled to make gains, as investors remained wary of initiating large position amid several warnings from analysts that the digital currency has peaked since hitting $3,000 earlier this month.

The cryptocurrency was at $2,469.80 in early trade, down about 5%.

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European stocks trade higher after Italian bank bailout

Investing.com – European equities traded higher on Monday even as Italy announced that it would pay up to €17 billion ($19 billion) in taxpayers’ money to bail out two of its regional banks.

Nearing midday trade in Europe, the benchmark Euro Stoxx 50 gained 0.91%, France’s CAC 40 rose 1.04% while Germany’s DAX 30 traded up 0.71%.

Italian authorities made the announcement Sunday in a plan designed to wind down Banca Popolare di Vicenza and Veneto Banca.

As part of the deal, Italy’s largest retail bank Intesa Sanpaolo will receive the good assets from both lenders and €4.8 billion ($5.4 billion) from the government in order to sustain its capital ratio.

Rome will also provide state guarantees for the nonperforming loans that could total up to €12 billion ($13.4 billion).

Italian bank shares jumped on the back of the news with Intesa (MI:ISP), Unione di Banche Italiane (MI:UBI), Banca Pop Emilia Romagna (MI:EMII), UniCredit (MI:CRDI), Mediobanca (MI:MDBI) and Banco Bpm (MI:BAMI) all gaining more than 2% on Monday.

In other company news, Nestle (SIX:NESN) and L’Oreal (PA:OREP) led advancers on the Stoxx 600 with gains of more than 4% as U.S. hedge fund Third Point, led by activist investor Daniel Loeb, unveiled a stake of more than 1% in the Swiss firm and urged the company to improve margins and buy back stock, as well as to sell off non-core assets such as its 23% stake in the French cosmetics maker.

On a light day for economic data, the German business confidence index, produced by the IFO economic institute, jumped to 115.1 in June, beating expectations for a slight decrease to 114.4 and hitting a new record high.

Later on Monday, the fourth annual European Central Bank "Forum on Central Banking" will kick off in Sintra, Portugal. Lasting through Wednesday, it will focus on investment and growth in advanced economies.

During two days of sessions and panels, approximately 150 central bank governors, academics, financial journalists and high-level financial market representatives will exchange views on current policy issues and discuss the chosen topic from a longer-term perspective.

ECB President Mario Draghi and Former Federal Reserve Chair Ben Bernanke will open the Forum with dinner speeches on Monday.

On the political front, Germany’s Social Democratic party fell further behind in an opinion poll, leaving current German Chancellor Angela Merkel with a comfortable 15 point lead ahead of the general election in September.

Eyes also focused on the U.K. where the Northern Ireland’s DUP party-leader Arlene Foster was set to meet with British Prime Minister Theresa May in the hopes to form an agreement over a coalition government.

Meanwhile, oil prices rebounded on Monday after closing last Friday down 3.8% on the week in its fifth consecutive weekly decline.

European energy stocks traded higher, as French oil and gas major Total SA (PA:TOTF) gained 0.50%, Italy’s ENI (MI:ENI) rose 0.66%.and Norwegian rival Statoil (OL:STL) traded up 0.43%.

Financial stocks were mostly higher after the Italian bank bailout, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) rose 1.09% and 1.43%, respectively, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) advanced 1.34% and 1.60%, respectively.

Among peripheral lenders, Italian banks Intesa Sanpaolo (MI:ISP) and rival Unicredit (MI:CRDI) jumped 3.52% and 2.92%, respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) gained 1.56% and 1.07%, respectively.

In London, the commodity-heavy FTSE 100 gained 0.55%.

Shares in Glencore (LON:GLEN) rose 1.02%, Anglo American (LON:AAL) gained 0.82%, while BHP Billiton (LON:BLT) and Rio Tinto (LON:RIO) traded up 1.01% and 0.57%, respectively.

Energy stocks moved higher, as BP (LON:BP) advanced 0.53% and rival Royal Dutch Shell (LON:RDSa) gained 0.65%.

Financial stocks registered gains, with shares in HSBC Holdings (LON:HSBA) up 0.85% and Royal Bank of Scotland (LON:RBS) rising 1.59%, while Lloyds Banking (LON:LLOY) and Barclays (LON:BARC) traded up 0.43% and 1.82%, respectively.

In the U.S., stock futures pointed to a higher open. The Dow Jones Industrial Average futures rose 0.30%, S&P 500 futures gained 0.24%, while the Nasdaq 100 futures advanced 0.31%.

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Global stocks mostly higher, Italian banks, Nestle eyed

Investing,com - Global stocks were mostly higher Monday as oil recovered.
{178|Nikkei 225}} was up 0.09% as the yen eased against the dollar.
Airbag maker (Takata:7312) files for bankruptcy protection.
Europe higher. DAX up 0.51%. Euro touches $1.12 as two Italian regional banks receive €17 bn state bailout.
(MI:Intesa Sanpaolo) up over 3%. To get good assets of failed Italian lenders in Veneto region.
(SIX:Nestle) up over 3% as Dan Loeb's hedge fund Third Point builds €3.5 bn stake; demands policy changes.
FTSE 100 up 0.57%. Sterling firm above $1.27 amid ongoing Brexit talks, U.K. rate speculation.
U.S. stock index futures higher. Progress on Republican healthcare bill eyed.
Dollar index dips below 97 mark as market odds of further U.S. rate hike this year ease.
Oil recovers from 10-month lows but increased U.S. drilling activity noted.
Gold nudges lower. U.S. Treasury yields edge higher.

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Japan stocks higher at close of trade; Nikkei 225 up 0.10%

Investing.com – Japan stocks were higher after the close on Monday, as gains in the Shipbuilding, Chemical, Petroleum&Plastic and Financial Services sectors led shares higher.

At the close in Tokyo, the Nikkei 225 rose 0.10%.

The best performers of the session on the Nikkei 225 were Pioneer Corp. (T:6773), which rose 3.85% or 8.0 points to trade at 216.0 at the close. Meanwhile, Sumitomo Osaka Cement Co., Ltd. (T:5232) added 2.20% or 12.0 points to end at 557.0 and Yamaha Corp. (T:7951) was up 2.09% or 80.0 points to 3905.0 in late trade.

The worst performers of the session were Sumitomo Dainippon Pharma Co Ltd (T:4506), which fell 6.11% or 104.0 points to trade at 1598.0 at the close. Toshiba Corp. (T:6502) declined 3.28% or 10.1 points to end at 298.1 and Tokyu Fudosan (T:3289) was down 2.52% or 17.0 points to 657.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1943 to 1222 and 303 ended unchanged.

Shares in Sumitomo Dainippon Pharma Co Ltd (T:4506) fell to 52-week lows; falling 6.11% or 104.0 to 1598.0. Shares in Sumitomo Osaka Cement Co., Ltd. (T:5232) rose to all time highs; rising 2.20% or 12.0 to 557.0. Shares in Yamaha Corp. (T:7951) rose to all time highs; rising 2.09% or 80.0 to 3905.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 2.35% to 13.72.

Crude oil for August delivery was up 1.09% or 0.47 to $43.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.98% or 0.45 to hit $46.20 a barrel, while the August Gold Futures contract fell 0.86% or 10.78 to trade at $1245.62 a troy ounce.

USD/JPY was up 0.32% to 111.65, while EUR/JPY rose 0.33% to 124.94.

The US Dollar Index Futures was up 0.06% at 97.04.

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Dollar remains weak on Fed rate hike view

Investing.com - The dollar was softer against a basket of the other major currencies on Monday as doubts over whether the Federal Reserve will raise interest rates again later this year continued to weigh.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dipped 0.07% to 96.91, adding to Friday’s losses when it fell 0.37%.

Recent data pointing to a slowdown in inflation has raised questions over the Fed’s plans to tighten monetary policy.

At its latest meeting earlier this month the Fed stuck to its projection for one more rate hike this year despite the subdued inflation outlook, but investors think the pace of its tightening will be much slower than policymakers want.

St. Louis Federal Reserve President James Bullard said Friday that the Fed should hold off on any further rate increases to see how the economy is progressing.

This was echoed by San Francisco Fed President John Williams who said the Fed needs to keep raising rates gradually with the U.S. economy at full employment and inflation set to hit the Fed's 2% target next year.

The dollar edged higher against the yen, with USD/JPY rising 0.14% to 111.44.

The euro was a touch higher, with EUR/USD at 1.1201, not far from Friday’s four day high of 1.1208.

Sterling gained ground against the greenback, with GBP/USD climbing 0.23% to 1.2747 amid growing expectation for a rate hike by the Bank of England in the coming months.

The Australian dollar was also higher, with AUD/USD up 0.28% to 0.7588 as a recovery in oil prices boosted the commodity linked currency.

Meanwhile, the Canadian dollar was also higher, with USD/CAD down 0.18% to 1.3243.

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Oil starts the week on high note but concerns remain over U.S. shale output

Investing.com - Oil prices were higher in European morning trade on Monday to start the week on an up note, but gains were limited amid lingering concerns over strong shale output growth in the U.S.

The U.S. West Texas Intermediate crude August contract was at $43.56 a barrel by 3:20AM ET (0720GMT), up 55 cents, or around 1.3%. It touched its lowest since August 11 at $42.05 on Wednesday last week.

Elsewhere, Brent oil for September delivery on the ICE Futures Exchange in London climbed 59 cents to $46.34 a barrel, after hitting $44.35 last Wednesday, a level not seen since November 14.

WTI lost $1.73, or about 3.9%, last week, while Brent fell $1.67, or roughly 3.8%. Both have now posted losses five weeks in a row, which marks the longest weekly losing streak since August 2015.

Crude reached bear-market territory last week amid concern that the ongoing rebound in U.S. shale production is derailing efforts by other major producers to rebalance the market.

U.S. drillers last week added rigs for the 23rd week in a row, according to data from energy services company Baker Hughes, the longest such streak on record.

The U.S. rig count rose by 11 to 758, extending a year-long drilling recovery to the highest level since April 2014, implying that further gains in domestic production are ahead.

The increase in U.S. drilling activity and shale production has mostly offset efforts by OPEC and other producers to cut output in a move to prop up the market.

In May, OPEC and some non-OPEC producers extended a deal to cut 1.8 million barrels per day in supply until March 2018.

So far, the production-cut agreement has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria, and a relentless increase in U.S. shale oil output.

In the week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer.

Meanwhile, traders will also continue to pay close attention to comments from global oil producers for evidence that they are complying with their agreement to reduce output this year.

Elsewhere on Nymex, gasoline futures for August inched up 0.9 cents, or 0.7%, to $1.432 a gallon, while August heating oil gained 1.5 cents to $1.394 a gallon.

Natural gas futures for August delivery rallied 5.9 cents to $3.010 per million British thermal units.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 1.31%

Investing.com – Taiwan stocks were higher after the close on Monday, as gains in the Other Electronic, Oil, Gas&Electricity and Trading&Consumer Goods sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted added 1.31% to hit a new all time high.

The best performers of the session on the Taiwan Weighted were Cheer Time Enterprise Co Ltd (TW:3229), which rose 10.00% or 2.40 points to trade at 26.40 at the close. Meanwhile, Scientech Corp (TW:3583) added 9.93% or 5.40 points to end at 59.80 and Hiyes International Co Ltd (TW:2348) was up 9.90% or 3.60 points to 39.95 in late trade.

The worst performers of the session were Jui Li Enterprise Co Ltd (TW:1512), which fell 5.26% or 0.70 points to trade at 12.60 at the close. Tai Twun Enterprise Co Ltd (TW:3432) declined 4.78% or 0.70 points to end at 13.95 and Silitech Technology Corp (TW:3311) was down 4.11% or 0.75 points to 17.50.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 554 to 232 and 94 ended unchanged.

Shares in Cheer Time Enterprise Co Ltd (TW:3229) rose to 52-week highs; rising 10.00% or 2.40 to 26.40. Shares in Hiyes International Co Ltd (TW:2348) rose to 52-week highs; gaining 9.90% or 3.60 to 39.95.

Crude oil for August delivery was up 1.21% or 0.52 to $43.53 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.20% or 0.55 to hit $46.30 a barrel, while the August Gold Futures contract fell 0.08% or 0.98 to trade at $1255.42 a troy ounce.

USD/TWD was down 0.13% to 30.347, while TWD/CNY rose 0.04% to 0.2260.

The US Dollar Index Futures was unchanged 0.00% at 96.98.

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Australia stocks higher at close of trade; S&P/ASX 200 up 0.07%

Investing.com – Australia stocks were higher after the close on Monday, as gains in the Consumer Staples, Utilities and Metals&Mining sectors led shares higher.

At the close in Sydney, the S&P/ASX 200 gained 0.07%.

The best performers of the session on the S&P/ASX 200 were Metcash Ltd (AX:MTS), which rose 5.02% or 0.110 points to trade at 2.300 at the close. Meanwhile, Greencross Ltd (AX:GXL) added 4.20% or 0.230 points to end at 5.700 and Bluescope Steel Ltd (AX:BSL) was up 2.96% or 0.370 points to 12.850 in late trade.

The worst performers of the session were Aveo Group (AX:AOG), which fell 10.98% or 0.335 points to trade at 2.715 at the close. Ardent Leisure Group (AX:AAD) declined 3.02% or 0.060 points to end at 1.930 and Beach Energy Ltd (AX:BPT) was down 2.61% or 0.015 points to 0.560.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 634 to 553 and 419 ended unchanged.

Shares in Aveo Group (AX:AOG) fell to 52-week lows; losing 10.98% or 0.335 to 2.715.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 0.82% to 12.577.

Gold Futures for August delivery was down 0.08% or 1.02 to $1255.38 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.09% or 0.47 to hit $43.48 a barrel, while the September Brent oil contract rose 1.03% or 0.47 to trade at $46.22 a barrel.

AUD/USD was up 0.13% to 0.7578, while AUD/JPY rose 0.12% to 84.33.

The US Dollar Index Futures was down 0.01% at 96.97.

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The Week Ahead: 5 Things to Watch on the Economic Calendar

Investing.com - Global financial markets will likely turn their attention to the European Central Bank's "Forum on Central Banking" in Portugal in the week ahead, with a panel discussion including the heads of the European, British, Japanese and Canadian central banks in the spotlight.

In addition, market players are expected to pay close attention to comments from Federal Reserve Chair Janet Yellen, as they look for more hints on the timing of the next U.S. rate hike and clues on how the central bank plans to pare back its balance sheet.

Traders will also keep an eye out on a final reading of U.S. first-quarter economic growth for further evidence on the health of the world's biggest economy.

Meanwhile, investors will await monthly inflation data out of the euro zone to assess the timing of when the European Central Bank will start unwinding its massive asset purchase program.

Elsewhere, market players will be looking ahead to monthly data on China's manufacturing sector amid recent signs of cooling in the world's second largest economy.

Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. ECB's "Forum on Central Banking"

The fourth annual European Central Bank "Forum on Central Banking" is scheduled to take place in Sintra, Portugal from Monday to Wednesday. It will focus on investment and growth in advanced economies.

During two days of sessions and panels, approximately 150 central bank governors, academics, financial journalists and high-level financial market representatives will exchange views on current policy issues and discuss the chosen topic from a longer-term perspective.

ECB President Mario Draghi and Former Federal Reserve Chair Ben Bernanke will open the Forum with dinner speeches on Monday. Draghi is due to speak again Tuesday morning.

The highlight of the summit is likely to be Wednesday's panel discussion including Draghi, Bank of England Governor Mark Carney, Bank of Japan Governor Haruhiko Kuroda and Bank of Canada Governor Stephen Poloz.

Market players will look for any clues on the timing of when the world's biggest central banks plan to start winding down their monetary stimulus and begin normalizing policy.

2. Fed Chair Yellen Speaks

Federal Reserve Chair Janet Yellen is due to speak about global economic issues at the British Academy's 2017 President's Lecture in London at 1:00PM ET (1700GMT) on Tuesday. Audience questions are expected.

Her comments will be monitored closely for any new insight on policy and the timing of when the Fed will next raise interest rates. The Fed chair could be asked about the U.S. central bank's plan to start shrinking its massive balance sheet, which ballooned to $4.5 trillion in wake of the financial crisis.

Besides Yellen, a pair of Fed policymakers are due to make public appearances on Tuesday that may offer further insight into the debate among policymakers on the likelihood of higher interest rates in the months ahead.

Philadelphia Fed President Patrick Harker is set to speak about the economic outlook and international trade at the European Economics & Financial Centre, in London, while Minneapolis Fed Chief Neel Kashkari will speak at a town hall event in Michigan.

The Fed raised interest rates for the second time this year earlier in June and maintained plans to go ahead with another rate hike by year-end. Despite the Fed's message, market players remained doubtful over the central bank's ability to raise rates as much as it would like in the coming months due to softening inflation.

Futures traders are pricing in less than a 15% chance of a hike at the Fed's September meeting, according to Investing.com’s Fed Rate Monitor Tool. Odds of a December increase was seen at about 35%.

3. U.S. 1st Quarter GDP - Third Estimate

The U.S. is to release final figures on first-quarter economic growth at 8:30AM ET (1230GMT) Thursday. The data is expected to show that the economy expanded at a 1.2% annual rate in the first three months of 2017, unchanged from a preliminary estimate.

Besides the GDP report, this week's calendar also features U.S. data on durable goods orders, consumer confidence, pending home sales, weekly jobless claims as well as personal income and spending, which includes the personal consumption expenditures inflation data, the Fed's preferred metric for inflation.

Investors are likely to continue to fret over the latest headlines coming out of Washington for any new fallout from the investigation into the Trump campaign's possible ties to Russia.

The deepening turmoil surrounding President Donald Trump's administration intensified doubts that he would be able to follow through on his campaign promises for tax cuts, deregulation and fiscal stimulus.

4. Euro Zone Flash Inflation Figures

The euro zone will publish flash inflation figures for June at 0900GMT (5:00AM ET) Friday.

The consensus forecast is that the report will show consumer prices rose 1.2%, slowing from a gain of 1.4% in May, while core prices are expected to increase 1.0%, inching up from a rise of 0.9% in the prior month.

Germany, France, Italy and Spain will produce their own CPI reports throughout the week.

In addition to the inflation data, the Ifo economic institute will produce monthly data on German business morale for June.

Earlier this month, the ECB closed the door on more interest rate cuts, judging the bloc's economy to be rebounding, but said inflation looks to remain weak for years so it still needs to keep extraordinary stimulus in place.

5. Chinese Manufacturing Data

The China Federation of Logistics and Purchasing is to release data on June manufacturing sector activity at 0100GMT on Friday, amid expectations for a modest decline to 51.0 from 51.2 in the preceding month.

Anything above 50.0 signals expansion, while readings below 50.0 indicate industry contraction.

Analysts expect China's economy to cool in coming months after a strong first quarter, with recent factory activity data also indicating a gradual slowdown is underway.

Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/

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Weekly outlook: June 26 - 30

Investing.com - The dollar fell against a basket of the other major currencies on Friday, posting its largest one day decline in three weeks on the back of lingering fears over prospects for further interest rate hikes this year amid a slowdown in inflation.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.37% at 96.98 late Friday, pulling further away from the one-month highs set on Tuesday.

St. Louis Federal Reserve President James Bullard said Friday that the Fed should hold off on any further rate increases to see how the economy is progressing.

"Recent inflation data have surprised to the downside and call into question the idea that U.S. inflation is reliably returning toward target," he said. "The Fed can wait and see how the economy develops before making any further adjustments."

At its meeting the previous week the Fed stuck to its projection for one more rate hike this year despite recent weak inflation data.

The dollar had risen earlier in the week boosted by comments by New York Fed President William Dudley, who said a tightening labor market would push up wages and cause inflation to reverse from its current pullback.

The euro was higher against the dollar, with EUR/USD rising 0.39% to 1.1194.

Sterling also gained ground against the greenback, with GBP/USD climbing 0.29% to 1.2718.

The pound was boosted by hawkish comment by outgoing Bank of England policymaker Kristin Forbes, who said the ‘lift-off’ of UK interest rates should not be delayed any longer.

The dollar was little changed against the yen, with USD/JPY at 111.28 in late trade.

In the week ahead, investors will be closely watching remarks by Fed Chair Janet Yellen on Tuesday for fresh indications on the timing of further rate hikes and signals on plans to trim the Fed’s balance sheet.

Market watchers will also be awaiting Friday’s euro zone inflation data and speeches by central bank heads at the ECB’s forum on central banking in Portugal.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, June 26

The Ifo Institute is to report on German business climate.

The U.S. is to release data on durable goods orders.

ECB President Mario Draghi is to open the ECB’s annual forum on central banking in Portugal.

Tuesday, June 27

ECB President Mario Draghi is to speak in Portugal.

The Bank of England is to publish its bi-annual financial stability report and Governor Mark Carney is to hold a press conference.

The U.S. is to publish a report on consumer confidence.

Fed Chair Janet Yellen is to speak at an event in London.

Wednesday, June 28

The heads of the ECB, BoE, Bank of Japan and Bank of Canada are to speak at the ECB central banking forum in Portugal.

The U.S. is to release figures on pending home sales.

Thursday, June 29

New Zealand is to report on business confidence.

Germany is to publish preliminary data on inflation.

The U.S. is to release revised data on first quarter growth and a report on initial jobless claims.

Friday, June 30

China is to release data on manufacturing and service sector activity.

Germany is to report on retail sales.

The UK is to publish current account data as well as revised figures on first quarter growth.

The euro zone is to publish preliminary data on inflation.

Canada is to produce monthly data on economic growth.

The U.S. is to round up the week with a report on personal spending and revised data on consumer sentiment.

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Gold / Silver / Copper futures - weekly outlook: June 26 - 30

Investing.com - Gold prices rose to one-week highs on Friday, boosted by the weaker dollar which fell amid persistent fears over prospects for further U.S. interest rate hikes this year.

Gold for August delivery closed up 0.71% at $1,258.31 on the Comex division of the New York Mercantile Exchange, after rising as high as $1,260.00 earlier.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.37% at 96.98 late Friday, posting its largest one day decline in three weeks.

St. Louis Federal Reserve President James Bullard said Friday that the Fed should hold off on any further rate increases to see how the economy is progressing.

"Recent inflation data have surprised to the downside and call into question the idea that U.S. inflation is reliably returning toward target," he said. "The Fed can wait and see how the economy develops before making any further adjustments."

At its meeting the previous week the Fed stuck to its projection for one more rate hike this year despite recent weak inflation data.

The dollar had risen earlier in the week boosted by comments by New York Fed President William Dudley, who said a tightening labor market would push up wages and cause inflation to reverse from its current pullback.

Gold and the dollar typically move in opposite directions, which means if the dollar goes down, gold futures, which are denominated in the U.S. currency, will rise.

Gold is also highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar.

Elsewhere in precious metals trading, silver gained 1.13%% to $16.69 a troy ounce late Friday.

Meanwhile, copper rose 1% to $2.624 a pound, platinum added 0.9% to $929.25 and palladium fell 3.1% to $853.23 an ounce.

In the week ahead, investors will be closely watching remarks by Fed Chair Janet Yellen on Tuesday for fresh indications on the timing of further rate hikes and signals on plans to trim the Fed’s balance sheet.

Market watchers will also be awaiting Friday’s euro zone inflation data and speeches by central bank heads at the ECB’s forum on central banking in Portugal.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, June 26

The Ifo Institute is to report on German business climate.

The U.S. is to release data on durable goods orders.

ECB President Mario Draghi is to open the ECB’s annual forum on central banking in Portugal.

Tuesday, June 27

ECB President Mario Draghi is to speak in Portugal.

The Bank of England is to publish its bi-annual financial stability report and Governor Mark Carney is to hold a press conference.

The U.S. is to publish a report on consumer confidence.

Fed Chair Janet Yellen is to speak at an event in London.

Wednesday, June 28

The heads of the ECB, BoE, Bank of Japan and Bank of Canada are to speak at the ECB central banking forum in Portugal.

The U.S. is to release figures on pending home sales.

Thursday, June 29

New Zealand is to report on business confidence.

Germany is to publish preliminary data on inflation.

The U.S. is to release revised data on first quarter growth and a report on initial jobless claims.

Friday, June 30

China is to release data on manufacturing and service sector activity.

Germany is to report on retail sales.

The UK is to publish current account data as well as revised figures on first quarter growth.

The euro zone is to publish preliminary data on inflation.

Canada is to produce monthly data on economic growth.

The U.S. is to round up the week with a report on personal spending and revised data on consumer sentiment.

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