Time to say Goodbye. | MarketTalk: What’s up today? | Swissquote

Yesterday soft data from the US fueled the Fed doves yesterday. The latest ADP report showed that the US economy added 150’000 new private jobs in June, less than expected by analysts and slightly less than last month, initial jobless claims rose, the factory orders unexpectedly fell in May and the ISM services unexpectedly contracted in June, the employment component plunged while prices fell more than expected. As such, investors saw in the data the evidence that the Fed is looking for to cut its rates. US yields and the USD fell and major US indices refreshed record before July 4th holiday.
Today, Brits are heading to the polls today aiming to oust the Conservatives from power after 14-years. A Labour win is seen as a net positive for both the British stock markets and sterling.
On the continent, the broad based dollar weakness sent the EURUSD past the 1.0750 resistance yesterday, the pair tested shortly traded past the 1.08 level, but the French political risks prevail and visibility is low into the second election weekend in France where we just don’t know whether Le Pen will or will not win a parliamentary majority.
Elsewhere, Japanese Nikkei is up for the third consecutive session and is approaching an ATH level reached back in March. The USDJPY doesn’t dare to move above the 162 for now. A broad based dollar weakness helps keeping the pressure contained.
Watch the full episode to find out more!
0:00 Intro
0:35 Soft data boost Fed doves
4:30 UK goes to polls!
6:35 Euro recovers but risks prevail
8:07 Nikkei close to ATH, yen breathes
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
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[@roddscherw]

The Goodbye in the title caused sad feelings. Looking forward for the next episode veeeerrrry much

[@ipekozkardeskaya1383]

😊 I didn’t mean goodbye to you, it was more of a goodbye to Conservatives! Next episode tomorrow !!

[@kostask8851]

Thanks Ipek Always helpful.

[@ipekozkardeskaya1383]

Thanks Kostas 😊🙏🏻

[@sigitasd1]

Thank you, Ipek! Nice title! 😂

[@ipekozkardeskaya1383]

Lol cheers😊

[@johnnycomelately6341]

I watched this with great relief Ipek, the headline had me worried (so that worked as clickbait 😉) So, if this fear wants to become reality, we would need 12 months notice Ipek to be able to adjust to a financial world without you 😉

[@ipekozkardeskaya1383]

Lol 😊 you made my day ! no, no I have no plans to stop talking anytime soon !

[@nolopa20]

All of this shows definitely a bubble!!

[@samthedoor]

What a crazy vertical line on Tesla! I'm sure the action will stay in these Mag-7 for a long time, bearish or bullish. I'm considering to try out options which I never do, but I know the theory. Interesting that Jen Sen dumped some shares. Nvidia might not grow as well on the next earnings call. Does that mean Rishi Sunak isn't going to be the PM anymore? UK has really never had any progress no matter who it was, it seems lately!

[@ipekozkardeskaya1383]

I know but that rise looks a bit fragile to me… who knows - at some point Nvidia will come back to earth - the question is when. Haha yes it means bye bye Rishi. Why are you saving they make no progress, they left the EU 😂😂

[@samthedoor]

@@ipekozkardeskaya1383 Well it just seems they had troubles with Boris, and Liz and Rishi....it's always bad lol. Yeah if Nvidia cannot get crazy growth it will slow down. Probably a bit like Tesla, priced to extreme growth, eventually corrects and then becomes a decent investment at that point at least for a little while. Will be interesting to see if it retests the 140s.