Market News 19/7
😱Apple Inc. plans to slow hiring and spending growth next year in some divisions to cope with a potential economic downturn, according to a report by Bloomberg. The stock fell by 2.1% on Monday after opening with a gap up. S&P 500 (US500) also reacted negatively and erased a 1% gain closing 1% down.
💰The US dollar index is mildly weakening but remains near multi-year highs. EURUSD is at 1.0150 after testing 1.0200 yesterday. XAUUSD returned to 1708 after turning down from the resistance at 1720.
🇪🇺In Europe, concerns are intensifying about gas supplies from Russia amid a standoff over its invasion of Ukraine. The European Union is preparing to tell members to cut gas consumption “immediately” to preserve supplies for winter.
🛢Oil held above $100 a barrel after posting the biggest one-day advance since May as fears of a tightening market rattled traders. Saudi Arabia declined to commit to output increases following a visit by US President Joe Biden, and disruption along the Keystone pipeline cut shipments of some Canadian oil to US refiners. XBRUSD is consolidating above 102.00.
🟢Bitcoin tested $23 000, the level at which it last was in the middle of June. Altcoins rallied with Ether adding almost 11% at one point. Solana also achieved a double-digit percentage gain.
Coming next:
💷18:00 GMT 3 - BOE Gov Bailey speaks
💵21:35 - FOMC member Brainard speaks
💸Earnings reports
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