Tag Archives: Google

Google Regarded As Best Placed For Growth

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: German Buba Monthly Report @ 10.00 GMT

WHAT WE’RE WATCHING TODAY

Asia Stocks Mainly Higher On U.S. Earnings Optimism

Most Asian stock markets edged higher today as investors temporarily put aside geopolitical concerns to focus on the generally upbeat flow of U.S. corporate earnings ahead of a series of results due this week. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent, with modest increases for most markets across Asia. Spread betters predicted opening gains of 0.1 to 0.2 percent for the FTSE 100, DAX and CAC 40. Several U.S. companies report this week, ranging from Apple to McDonald’s Corp, Coca-Cola Co and Caterpillar Inc. Data showed that of 82 companies in the S&P 500 that had reported earnings through Friday morning, 68 percent beat Wall Street’s expectations. The Dow ended Friday up 0.7 percent, while the S&P 500 gained 1 percent and the Nasdaq 1.6 percent. For the week, the Dow rose 0.9 percent, S&P 500 gained 0.5 percent and the Nasdaq added 0.4 percent.

Dollar Gauge Trades Near Four-Week High In Advance of CPI Data

A gauge of the U.S. dollar was 0.3 percent from a four-week high before tomorrow’s CPI data which economists believe will show consumer-price inflation held at the fastest since October 2012, prompting the case for higher interest rates. The U.S. currency has risen versus all except one of its Group of 10 peers this month as traders boosted bets the Federal Reserve will increase its benchmark rate by the middle of 2015. Analysts say that a stronger CPI number would boost the U.S. dollar as we are seeing this data begin to edge up. The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major counterparts, was little changed at 1,008.44 after advancing to 1,011.12 on July 18, the highest level since June 20. The dollar fell 0.2 percent to $1.3547 per euro after strengthening 0.6 percent last week. The U.S. currency weakened 0.1 percent to 101.22 yen.

Google Regarded As Best Placed For Growth

Google is the best placed of any company to benefit from the shift to mobile, increased local advertising and wearables, according to analysts after the company posted its 18th straight quarter of 20 percent-plus revenue growth. At least seven brokerages raised their target price on the stock on Friday by as much as $75, to a high of $700. The company said on Thursday that second-quarter revenue rose 22 percent to $15.96 billion, beating the average analyst estimate of $15.61 billion. Growth was driven by the company’s core search business, YouTube and product-listing ads, which combined to drive three times the amount of mobile traffic for merchants compared with last year. Google also owns Android, the world’s most-used mobile software. Other online companies such as Facebook and Twitter are also revamping their advertising businesses to take advantage of the shift to mobile devices but Google has established an unusually deep competitive edge its business through scale, aggressive product innovation and substantial investment. Google’s capital investment budget has topped $17 billion over the past five years, and the company has spent about $13 billion on research, according to analysts. Google shares were trading at $604.33 before the bell, after closing at $580.82 on Thursday. Up to Thursday’s close, the stock had risen 26 percent in the past year.

That sums up today’s highlights! Remember you can find us on Facebook, Twitter, Google+ and LinkedIn with regular trading updates. We hope you have a profitable day on the markets.

ECB: Market-Watchers Look to Draghi for Clarity

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Non-Farm Payrolls @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

ECB: Market-Watchers Look to Draghi for Clarity

A month after the ECB president, Mario Draghi introduced a varying range of fixes for the euro area’s faltering recovery, market-watchers are in disagreement about how long interest rates will stay near zero and remain unclear on the details of plans to boost lending. Draghi may use today’s appearance in Frankfurt as an opportunity to clarify the situation. As the Federal Reserve and the Bank of England work their way out of crisis-era support for their economies, the ECB continues to steer against the risk of a relapse. Draghi’s guidance on how he expects rates to develop over the next two to four years, if he decides to give any, will be crucial in bolstering investors’ optimism that the worst is truly over, while reassuring them that protection won’t be removed before they’re ready.

The euro is currently trading below $1.37, roughly where it was when the ECB met on June 5 but down from over $1.39 before the ECB flagged the cut in May. The ECB is keeping a close eye on the euro to gauge its impact on already low inflation. Euro zone inflation stood at 0.5 percent in June, well below the ECB’s medium-term target of just under 2 percent. Should the outlook for inflation deteriorate, Mario Draghi has said that the ECB would consider quantitative easing to keep borrowing costs low and boost spending.

Asia Stocks Fall Along With Gold; Dollar Gains Before Data

Asian Stocks fell from a six-year high, while precious metals dropped as the U.S. dollar gained versus its major peers before today’s jobs reports and a euro-area monetary-policy decision. The MSCI Asia Pacific Index slipped 0.2 percent while Standard & Poor’s 500 Index futures lost 0.1 percent. The Aussie slid 0.7 percent, trading at 93.78 U.S., cents after Reserve Bank of Australia Governor Glenn Stevens said investors are underestimating the chance of currency losses. Oil in New York fell for a sixth day, its longest slump since May 2012. Australia’s currency also slid as the country’s central bank governor said it was overvalued. The Aussie is more than just a few cents overvalued and the risk of a significant fall is being underestimated according to Stevens.

The U.S. Non-Farm Payrolls report comes after yesterday’s ADP data showed U.S. employment rose in June by the most since 2012, with more workers hired than economists projected. The European Central Bank meets today after enacting unprecedented stimulus last month, while in Asia, data on services industries is due.

Watch For Google’s Streaming Music Service…

With its Songza deal, Google could end up dominating other streaming music services if it becomes the default option on Android mobile devices due to Android’s dominance among mobile devices and Songza’s ability to curate and recommend new music to its users. Android devices make up nearly 62 percent of the U.S. market for smartphones, according to research as of May 2014. With the Songza move, Google pitches itself against Spotify, Pandora and Rdio as well as Apple, which acquired Beats Music and its streaming service, and Amazon, which recently launched a streaming music service for its Prime customers. The deal could be a win for Google’s advertising business. Keep an eye on Google stocks…

That sums up today’s highlights. It’s Non-Farm Payrolls day today so a busy day on the markets. Don’t forget you can stay regularly updated on events by visiting our Facebook, Twitter, Google+ and LinkedIn pages.

We hope you have a profitable day on the markets!

Jobs Help Seal U.S. Spring Rebound

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. ISM Manufacturing @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

Jobs Help Seal US Spring Rebound

The United States has finally consigned its weather-beaten start to the year to history this week as jobs data is expected to show a strong end to the second quarter. The U.S. economy contracted at a 2.9 percent annual rate, the sharpest decline in five years, in the first quarter of this year. An extremely severe winter, the expiration of long-term unemployment benefits and a notable slowdown in restocking by businesses combined to negatively impact the world’s largest economy, but these factors are expected to have faded by April. Monthly jobs data, arguably the most important gauge for both the Federal Reserve and the American people, is expected to show U.S. firms are continuing to hire at a solid pace as economic activity and growth takes hold. U.S. employment already returned to its pre-recession peak in May, with nonfarm job gains of 217,000 which would be a fifth straight month of job gains above 200,000, a run unmatched since the Sept 1999-Jan 2000 period. The jobs figures on Thursday are also set to feature a steady 6.3 percent unemployment rate.

Meanwhile forecasts for the influential ISM (Institute for Supply Management) manufacturing and services reports due today, point to a further acceleration of growth, with respectively a fifth and fourth consecutive rise in the monthly indices. Economists predict growth could top an annualized 5 percent in the April-June period due to a rise of inventories, a rebound of investment and a boost from trade. Less optimistic economists suggest the jobs and ISM reports should at least provide a counterbalance to muted consumer spending in May. Consumer spending rose by just 0.2 percent in the month following a flat reading in April, prompting some economists to cut their estimates for second-quarter growth to as low as a 2.2 percent pace from as high as 4.0 percent before.

Japan Business Sentiment Takes A Negative Hit

Business sentiment in Japan took a negative impact in the three months to June but is expected to recover in the months ahead, as revealed in the Bank of Japan’s tankan survey on Tuesday - another sign the economy should weather a rise in the country’s sales tax. The headline index for big manufacturers’ sentiment slipped by five points from three months ago to plus 12 which reflects the drag on consumer spending and the economy from the April 1 increase in Japan’s sales tax to 8 percent from 5 percent which was the first rise in the consumption tax in 17 years. However, big manufacturers said they expect business conditions to improve in the following quarter. The closely-watched tankan report also showed big firms plan to raise their capital spending by 7.4 percent for the fiscal year that started in April. Japan’s blue-chip Nikkei stock index opened 0.12 percent higher, while the yen was little changed around 101.35 per dollar.

Google Designs A Safer Car Touchscreen

Car manufacturers are increasingly integrating touchscreens into vehicles to the dismay of safe-driving advocates, who fear people are already too distracted by phone calls and texts while driving. Tech companies are, however, responding by designing what they say are safer ways for customers to stay focused on their favorite apps and online services behind the wheel. Google’s Android, for example, is working on an interface to make it safer and more user-friendly through a platform called Android Auto, which allows maps, music, and personal organization functions on your phone to be accessed through a larger screen in the car. Followers are describing it as Android’s answer to Apple’s CarPlay. Interest in designing a smart screen for the car is growing increasingly popular with 28 carmakers already in the Open Automotive Alliance working with Android Auto. For Google, using Android Auto means drivers will continue using its services during their commute.

That sums up today’s highlights! We hope you have a profitable day on the markets.

RBNZ Expected To Hike Official Cash Rate

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: NZD Official Cash Rate @ 21.00 GMT

WHAT WE’RE WATCHING TODAY

RBNZ Expected To Hike Official Cash Rate

The Reserve Bank of New Zealand is widely expected to lift the official cash rate a further 25 bps when it meets today. However, there is less consensus on the indications the bank may provide about the timing and pace of future hikes. The RBNZ began lifting the OCR from historically low rates in March to the current 3.00% and at the time signaled regular increases at six weekly intervals through September. Since then the balance of factors has shifted. While dairy prices have declined and the pace of gains in house prices has slowed, the exchange rate has remained steady, migration has soared, and economic data have surprised to the upside. The net balance doesn’t change expectations for a hike on Thursday but economists differ on whether this raises the odds of a hold in July and the number of OCR hikes that are likely this year. Expectations range from another 25 basis hike by December, following the likely Thursday hike, to three more hikes that will take the OCR to 4.00%.The money market is expecting a total of two hikes by December. Reserve Bank governor Graeme Wheeler will release the bank’s decision today @ 21.00 hours GMT. The bank’s statement will include an updated set of economic forecasts in the quarterly Monetary Policy Statement.

Euro Under Pressure In Asia As Stocks Sit On Gains

The euro came under fire today as the European Central Bank’s embrace of negative interest rates encouraged flows out of the Eurozone, while Asian shares consolidated near recent highs. In contrast the dollar found support in a run of improving U.S. economic data which has increased speculation that the Federal Reserve might sound less dovish on policy when it meets next week. The euro fell to $1.3524 and further away from a $1.3668 peak scored at the start of the week. It also hit a seven-month trough on the higher-yielding Australian dollar and to near its lowest against the pound since late 2007.Action in equity markets was more muted with many indices already having come a long way. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent from a three-year peak. Japan’s Nikkei edged up 0.3 percent aided by MSCI’s decision to remove South Korea and Taiwan indexes from its review list for reclassification to developed markets, keeping them in the emerging markets classification. Moves were minor on Wall Street with the Dow up 0.02 percent, while the S&P 500 down 0.02 percent.

Google Buying Satellite Company For $500 Million

Google is buying Skybox Imaging, a 5 year old startup, in a deal that could serve as a launching pad for the company to send its own fleet of satellites to take aerial pictures and provide online access to remote areas of the world. The $500 million acquisition will initially provide Google with the means to improve the quality and immediacy of the satellite imagery used in its digital maps. Google plans to use Skybox’s satellite already in orbit to supplement the material that it licenses from more than 1,000 sources, including other satellite companies. Eventually, though, Google hopes to build more satellites that could be used to beam Internet access to points around the world.

That sums up today’s highlights! Check into our Facebook, Twitter and Google+ pages for regular updates on all the tradable events of the day. We hope you have a profitable day on the markets.

Dollar Rises As This Week Could Be Crunch-Time For The ECB

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: EUR CPI Flash Estimate @ 09.00 GMT

WHAT WE’RE WATCHING TODAY

Dollar Rises As This Week Could Be Crunch-Time For The ECB

The dollar rose against the euro on Monday as disappointing German inflation data along with the expectation of very weak May inflation figures in the Eurozone, were the latest signs that the European Central Bank could be forced to ease monetary policy this week to fight low inflation. German inflation for May missed expectations, with the EU-harmonized annual reading falling to 0.6% from 1.1% in April. Separately, data showed the region’s manufacturing growth slowed by more in May than initially estimated. Market participants believe that the ECB cannot afford to do nothing this week, having intentionally raised hopes of further monetary easing so the expectation is that the ECB will go ahead and cut rates. The maximum impact from an ECB rate cut would come with a negative deposit rate and liquidity-boosting measures. The goals would be to cap EUR appreciation while reducing fragmentation and strengthening forward guidance. The euro EUR/USD fell to $1.3598 from $1.3635 on Friday. The euro has fallen since ECB President Mario Draghi hinted that easing could come in June. The ECB will issue a decision on Thursday, followed by a press conference by ECB President Mario Draghi. At the same time, the Federal Reserve is on track to finish its stimulative bond-buying program by year end, setting up for eventual rate hikes.

More Monetary Easing Could Be On The Way As Australian Economy Slows

Australia’s economy appears to be slowing and some economists argue that a more subdued outlook could lead to further monetary easing from the country’s central bank. Australia is due to report first quarter economic growth on Wednesday. While economists expect robust growth of 3.2 percent on-year, up from 2.8 percent in the previous quarter analysts expect the economy will take a turn for the worse in the second quarter with growth expected to slow to 0.4 percent on-quarter from 0.7-0.8 percent in the first quarter. This pull back may prompt the Reserve Bank of Australia to take a more dovish stance. Australia’s economy enjoyed 20 years of strong growth thanks to its mining boom, but lost some of its luster recently as the boom showed signs of peaking and growth in China, its largest trading partner, slowed. Furthermore, Australia’s conservative government delivered the country’s harshest budget in 20 years last month and many economists are concerned about the toll it will take on the economy. Business and investor confidence dropped following the budget, while red-hot housing prices eased, a factor that economists worry could dampen consumer spending. Financial conditions have tightened and consumer sentiment is at levels not seen since prior to the current rate easing cycle. The RBA left interest rates at a record low of 2.5 percent on Tuesday, for the ninth straight month.

Dow & S&P End At Record Highs

The Dow and the S&P 500 finished at record highs again yesterday after a reading on U.S. manufacturing was revised to show more strength than initially indicated. Industrials and material stocks were among the day’s biggest gainers, while the technology sector ended lower, weighed down by big names like Apple and Google. The Institute for Supply Management officially corrected its earlier report to show that the pace of growth in the U.S. manufacturing sector accelerated in May. Wall Street fell initially after the first report, with all 10 S&P 500 sector indexes down for the day at one point. The Dow Jones industrial average rose 26.46 points to 16,743.63 as the S&P 500 gained 1.40 points to 1,924.97. The Nasdaq Composite, however, dropped 5.42 points to 4,237.20. The Dow ended at a second consecutive record high while the S&P 500 closed at a third consecutive record though volume was still slight, suggesting a lack of conviction behind the advance.

That sums up today’s highlights! Don’t miss our regular updates on today’s tradable events via our Facebook, Twitter, Google+ and LinkedIn pages. We hope you have a profitable day on the markets.

What Will Apple Reveal This Week?

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: GB Manufacturing PMI @ 08.30 & U.S. ISM Manufacturing PMI @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

What Will Apple Reveal This Week?

Apple’s Worldwide Developer Conference starts today amid speculation about what the company is planning to reveal. Rumours are that Apple’s lineup this year will be the best in 25 years. Although consumers will likely have to wait until later this year for big product announcements, industry experts say that the company may roll out some new features in its software at the conference. The focus is expected to be on two big themes; health and connecting the home. For Apple, it’s all about having all the devices connected and getting people even more locked into their ecosystem and adding value to devices that users already have. The company’s competitors, including Google, which recently bought the smart thermostat company Nest, are all making plays in this space and time is ticking for Apple to do the same. Presently, it is a fragmented experience and the plan is to start connecting things together which Apple will do by using the iPhone. Related to improving Apple’s home experience, the company may also implement voice-enabled Siri capabilities in Apple TV which would help the company compete with Amazon’s Fire TV. In addition, there are rumours of the next iPhone and iPad having larger screens and that the updated operating system will enable split-screen capabilities on the iPad. This would help it compete with the growing number of tablets flooding the enterprise space. A revealing week ahead for Apple watchers, traders will be watching the markets for movements in the price of Apple stocks.

ECB Expectations Pressure Euro

The euro came under pressure today as the market braced for further stimulus measures from the European Central Bank this week. Hopes for policy action at Thursday’s ECB policy review have been high since ECB president Mario Draghi said in Portugal last week that the central bank must be prepared to take action if risks surrounding persistently low inflation emerge. The ECB is thus preparing a package of policy options for its meeting that includes cuts in all its interest rates. In the markets, the focus is shifting to what the Governing Council could do to ‘surprise’ the markets, such as signaling that more aggressive unconventional quantitative easing measures could be forthcoming. Analysts point out that if the ECB does not surprise markets, there could be some cautious profit taking on the EUR, and add that risks for EUR could be on the downside over the medium term. The euro edged down slightly to $1.3627, and remained not far from a three-month low of $1.3586 touched on Thursday.

Gold Falls In Longest Losing Streak In 7 Months

Gold fell for a fifth straight session today in its longest losing streak since November, affected by stronger global equities and weak physical demand in Asia. Spot gold had eased 0.2 percent to $1,247.89 an ounce, not too far from a 4-month low of $1,241.99 hit on Friday. The five-day fall is the metal’s longest losing run since October/November when it dropped for seven straight days. The technical outlook for gold is not looking very good and there is a strong chance it will fall to $1,230 and possibly all the way $1,200. Physical markets haven’t reacted very much to last week’s drop but if prices fall to $1,200, there could be some action. Physical buying failed to pick up as consumers expect gold prices to fall even further. Other data also showed that hedge funds and money managers cut their bullish bets in gold futures and options in the latest week to their lowest level in nearly four months, another sign of waning investor interest in the metal amid higher equities. An early or quick gold turnaround is not expected as the market may not have bottomed yet.

That sums up today’s highlights! It’s a busy week on the market so ensure you’re up-to-date with all the latest news via our Facebook, Twitter, LinkedIn and Google+ pages. We hope you have a profitable day on the markets.

European Stocks Up On Supportive Fed & China Data

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Unemployment Claims @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

European Stocks Up On Supportive Fed & China Data; Jobless Claims Data Awaited

European stocks were seen to be edging higher today, boosted by expectations that the Federal Reserve would continue to support the U.S. economy and by data showing an increase in Chinese factory activity. Britain’s FTSE 100 was expected to open 14 to 16 points higher, or as much as 0.2 percent and Germany’s DAX to open 32 to 33 points higher, or 0.3 percent. Global shares rose overnight after minutes of the U.S. Federal Reserve’s last meeting reassured investors that policy makers would stick to their easy monetary policy stance. While Fed staff presented several approaches to raising short-term interest rates, they said the discussion was simply prudent planning and not a sign rate hikes would come any time soon. The Fed is unlikely to spoil the recovery while inflation is low and underemployment is high. Sentiment on risk assets was further boosted by China’s factory sector which showed its best performance in five months in May, confounding some of the more bearish on the world’s second-biggest economy and top consumer of metals.

Meanwhile, U.S Unemployment Claims data is awaited today. Initial claims for U.S. unemployment benefits hit a seven-year low of 297,000 claims last week, confirming the strong recovery in the US economy. Claims fell 24,000 from the preceding week, indicating stronger economic growth in the second quarter. Stronger labour market and rising inflation pressures give the green light to the Fed’s ongoing tapering move. Jobless claims are expected to increase to 312,000.

UK Retail Sales Rise Much More Than Expected

British retail sales rose much more strongly than expected in April helped by robust food sales during the Easter holiday. Retail sales volumes jumped 1.3 percent on the month to show 6.9 percent growth on the year - its highest annual growth rate since May 2004. Economists had expected retail sales to rise 0.5 percent on the month and for sales to be up 5.2 percent compared with April last year. Sales for March were also revised up significantly. Britain’s consumers have been the main driver of the country’s economic recovery which began last year. A fall in inflation and signs of higher wages have helped restore some of the spending power lost in the years after the financial crisis. The turnaround in the housing market has also given home-owners more confidence to spend.

And The World’s Biggest Brand Is Now….

Google has leap-frogged over Apple to take the top spot in a global ranking measuring the value of the world’s biggest brands. Google saw a 40 percent year-on-year increase and is now worth to $159 billion making it top of the world’s most valuable global brands according to a recent report. Google has been hugely innovative in the last year with Google Glass, investments in artificial intelligence and a multitude of partnerships. Apple was knocked off the top spot after three years as the world’s number one, after its brand’s value fell 20 percent to $148 billion. A perception the Silicon Valley giant no longer redefines technology for its customers, as evidenced by a lack of new product launches, was behind the dip, according to the report. However, the fact Google and Apple took first and second place reflects technology brands’ growing dominance. The top four most valuable brands Google, Apple, IBM and Microsoft, all belonged to technology companies. The average technology brand is worth $45.9 billion, sitting way above the average brand value of £24.9 billion. The Top 100 have a combined value of $2.9 trillion and have increased by 49 percent since 2008. Their resurgence is a reflection of global growth which followed the end of the 2007 financial crisis.

That sums up today’s highlights! Remember to keep in touch with us via Facebook, Twitter, Google+ & Twitter for all the latest trading developments of the day.

We hope you have a profitable day on the markets.

Currencies: Dollar, Euro, Aussie Latest

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD Crude Oil Inventories @ 14.30 GMT

WHAT WE’RE WATCHING TODAY

U.S. Dollar Strength Wanes, Aussie Slides, Euro & Other Major Currencies Subdued

Investors trimmed U.S. dollar positions on Tuesday after a two-week run higher, seemingly unmoved by a U.S. March existing home sales report that beat expectations but still showed a modest decline to a one and a half year low. Trading ranges remained narrow as Europe returned from the Easter holidays and faced uncertainty over whether European Central Bank policy will move toward more monetary stimulus. The euro gave up some of its modest gains, but remained positive against the greenback and yen. European Central Bank President Mario Draghi recently stated that the euro’s strength and very weak inflation in the euro zone, due partly to the strong exchange rate, are possible triggers for the central bank to ease monetary policy. The euro slipped to a two-week low before rebounding to trade slightly higher around $1.38. Investors await today’s euro zone ‘flash’ PMI surveys while the German IFO institute’s monthly reading of business sentiment in Europe’s largest economy is due Thursday. The Australian dollar, meanwhile, slipped today after data showed that Australian consumer prices rose less than expected in the first quarter, lessening the risk of a rise in domestic interest rates this year. The currency tumbled 0.9 percent to $0.9286, pulling away from a five-month high of $0.9461 set earlier in April. Other major currencies were subdued, with the euro edging up 0.1 percent to around $1.381, while the dollar eased 0.1 percent to 102.55 yen.

Gold Above 10-Week Low as Investors Look To Ukraine & U.S. Recovery

Gold traded above a 10-week low as improvements in the U.S. economy were weighed against tension in Ukraine and signs of higher demand in China. Assets in the largest exchange-traded product held at the lowest in 12 weeks. Bullion for immediate delivery was at $1,284.84 an ounce from $1,283.81 yesterday, when prices fell for a sixth day to $1,277.69, the lowest level since Feb. 11. While gold’s 12-year bull-run ended in 2013 on expectations the Federal Reserve would reduce stimulus as the world’s largest economy recovers, prices have rallied 6.9 percent this year as unrest in Ukraine spurred haven demand. In China, the biggest consumer, volumes for the benchmark spot bullion contract in Shanghai climbed for a second day to a five-week high yesterday.

Google’s Stellar Growth…

More technological developments for Google as the company announces that together with NASA, it is developing smart robots designed to fly around the International Space Station which will eventually take over some menial tasks from astronauts with the aid of custom-built smartphones. NASA is planning to attach smartphones to the flying robots to give them spatial awareness that would enable them to travel throughout the space station. The Android-based phones will track the 3D motion of the robotic spheres while mapping their surroundings in an effort to give mobile devices human-scale sense of space and motion. The new phones are scheduled for launch into space on June 10. Google says the technology may also have applications on earth, such as in gaming and navigation assistance for the visually-impaired. Traders may wish to keep an eye on Google stock prices.

That sums up today’s highlights! Keep posted with our regular Facebook, Google+, Twitter and LinkedIn updates for traders. We hope you have a successful day on the markets!

Jobless Claims Likely To Rise

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD Unemployment Claims @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

Jobless Claims Likely To Rise

Data showing the number of Americans filing for first-time unemployment benefits is likely to show a slight gain in the latest weekly data. Forecasts reveal that weekly initial claims for regular state unemployment-insurance benefits will rise to 315,000 in the week that ended April 12, which is slightly up on 300,000 for the prior week. Some seasonal volatility may have accounted for last week’s drop in jobless claims to 300k which was the lowest level since May 2007, although layoffs are trending lower and hiring is gaining some momentum after being held back by the severe weather. The U.S. Labor Department will release the claims data today at 12.30 GMT.

European Shares Mixed, Dollar Falls As Yellen Pledges to Support Economy

European shares are set for a mixed open today, failing to continue a rally on Wall Street after Federal Reserve Chair Janet Yellen reaffirmed the central bank’s commitment to keep interest rates low. The FTSE is called up 1 point at 6,585, the German Dax is seen off by 8 points at 9,310 and the French CAC is seen down 3 points at 4,403. European bourses could see thin volumes today ahead of the Easter holiday weekend when many indexes are closed for a four-day weekend. In the U.S. stocks climbed after U.S. industrial production rose more than projected and Yellen reiterated that the central bank would keep up its backing of the recovery. Wall Street saw a strong close on Wednesday but those gains failed to translate to the rest of the globe. Asian stocks turned mixed following gains in this morning’s session as investors booked profits on the previous day’s rally. Investors in Europe will be monitoring events in Ukraine.

The U.S. dollar, meanwhile, fell against most of its Group of 10 peers. The dollar fell 0.2 percent to $1.3839 per euro and slid 0.2 percent to 102.03 yen, after rising 0.7 percent in the previous four days. The Japanese currency fetched 141.20 per euro from 141.24 yesterday. Financial markets in the U.S., U.K., Germany, Hong Kong, Singapore, Australia and New Zealand are among those that will be closed for a holiday tomorrow.

Google Misses Revenue Target As Trends Move Toward Mobile Advertising

Google Inc’s first-quarter revenue fell short of Wall Street targets and margins narrowed as the price of its ads continued to decline, highlighting the challenges Internet companies face as the world shifts toward mobile devices. Shares of Google were down 3 percent to $539.80 in afterhours trading on Wednesday, after initially sliding roughly 6 percent on the news. The number of “paid clicks” by consumers on Google’s ads increased by 26 percent in the first quarter, disappointing some analysts who had hoped for stronger volume growth. The average “cost per click” declined 9 percent, extending a downward trend as mobile advertising, typically cheaper than traditional online ads, make up a bigger slice of its business. The world’s largest search engine, along with Facebook Inc and Twitter Inc, which are due to report financial results in coming weeks, are revamping their products and advertising business to account for smartphones.

That sums up today’s highlights! Remember that you can keep up-to-date with all the trading news and events for the day via our Facebook, Twitter, Google+ and LinkedIn pages.

We hope you have a profitable day on the markets.

U.S. Building Permits: Set To Rise?

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD Building Permits @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

U.S. Building Permits: Set To Rise?

With Building Permits data expected later today, investors are anticipating numbers that will show American housing and industrial activity increased. European stock-index futures rose, after equities fell yesterday to a three-week low, while Asian shares climbed. The Stoxx Europe 600 Index also dropped 1 percent yesterday as Ukraine accused Russia of deploying troops inside its territory. Reports are expected to show housing starts rebounded to a 970,000 annualised pace in March, the first increase in four months, from a 907,000 rate in the previous month, according economists at Bloomberg. Separate data may show industrial production increased in March. Also today, Federal Reserve Chair Janet Yellen will address the Economic Club of New York after the close of European markets while the U.S. central bank will release its economic survey known as the Beige Book.

USD Building Permits Today @ 12.30 GMT

Gold Extends Decline On Prospects For Further Fed Tapering

Gold retreated once again, extending the biggest drop in three weeks, on prospects for further cuts to the Federal Reserve’s stimulus program as the U.S economy shows signs of recovery. Gold traded at $1,300.31 slumping 1.9 percent yesterday, the most since March 24. The precious metal ended a 12-year bull run in 2013 on expectations that the Fed would cut stimulus as the largest economy recovered. Bullion has rebounded 8.2 percent this year as unrest in Ukraine spurred haven demand. In an escalation of the conflict, Ukrainian troops retook state buildings from armed pro-Russia activists in the eastern Donetsk region yesterday as Russia warned of a civil war.

Twitter Shares Take Flight After Key Hire, Acquisition

Shares of Twitter closed up nearly 12 percent Tuesday after the company said it was buying Gnip, a start-up that it has worked closely with. The company also announced a key hire, Daniel Graf from Google, who ran Google Maps. Graf will be vice president of consumer products. Buying Gnip shows that Twitter is investing more heavily in enterprise services. Gnip is one of the few companies that has access to Twitter’s “Firehose,” meaning all the data generated by millions of tweets, every day, in real time. The company then mines the data for trends or information that might be useful to other companies. The buyout means the two companies will have a much closer relationship and signals where the company sees its strategy going forward.

That sums up today’s highlights! We hope you have a profitable day on the markets.