Twitter and Facebook Under the Microscope

Daily Analysis - 06/09/2018

Twitter and Facebook the biggest Losers yesterday

twitter-and-facebook


Twitter and Facebook were the biggest losers on the NASDAQ Composite and S&P 500 Index yesterday. Australia’s trade surplus shrinks to about $1.6 billion as exports fell and imports went up. In seasonal terms, the surplus in July went down to $1.55 billion from $1.9 billion in June. The U.S. government debt yields were mostly steady yesterday ahead of the economic data, today and tomorrow, but also the speeches by FED officials. New data out yesterday showed that the U.S. trade deficit last July widened faster since 2015 as monthly deficits with China and the European Union both hit new records. Most of Asia’s stock indexes went lower in afternoon trade today, following the lead set by the very sharp decline in U.S. tech stocks on yesterday. The Commerce Department showed in July that the U.S. trade deficit went up by almost 9.5% to $50.1 billion, and America now is on pace for its biggest annual gap in more than 10 years. The U.S. trade deficit with China went to $36.8 billion.

Turkey starts building Russian missile Platform


Turkey starts building a platform for a Russian missile system.US warnings do not stop Turkish government from implementing their military plans. An assessment was published one month ago which included satellite images of a concrete launch facility as well as bunkers, according to a source, who spoke anonymously according to CNBC news. This new construction is the same as the pattern for Russia's S-400 surface-to-air missile system the source said. Turkey signed an agreement with Russia for S-400 missiles — a deal reportedly worth $2.5 billion. The implementation of the Russian missile system has raised concerns among NATO partners. They are wary of Russia’s increasing military presence in the region.

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Cryptocurrencies widely fell 


Bitcoin continued losses this morning in Asia. That came after a report that Goldman Sachs said they will not implement their plans for opening a trading desk for cryptos. The world’s most popular currency went down to a low of $6,279.04 according to data from CoinDesk. Also, the other cryptocurrencies continued to fall, according to tracking site CoinMarketCap. By 11:10 a.m. Ethereum had fallen by 19.70% only in one day. Ripple's XRP token has seen its value slide by about 13.90 %, bitcoin cash dropped by about 18% during the time. Cryptocurrencies often move together and they are affected mostly by the fortunes of bitcoin. Despite the retracement from its earlier daily low, bitcoin is still on the downside and lost about 12 % over the last 24 hours, according to CoinMarketCap.

 

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European markets under pressure – fear emerging markets sell off


Europe stocks probably will open slightly lower today due to the ongoing worries over emerging markets and the possibility of new U.S. tariffs on China. The FTSE is 10 points lower at around 7,370, the CAC is probably is going to open lower around 2 points at 5,257, Now the DAX is poised to start up around 3 points at 12,043. In the Asia session, the stocks were largely lower as investors are concerned over the future of emerging markets. Argentinian officials said yesterday that they are positive about a new deal with the International Monetary Fund. Overnight on Wall Street, tech stocks headline focus after a sharp sell-off, while the testimonies from Twitter and Facebook to the U.S. Congress was in progress. In Europe, the Brexit remains a serious problem, after the comments from the German government that it is ready for all scenarios, including a no-deal.

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