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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Markets Brief US GDP Beats As Investors Digest Earnings

Article By: ,  Financial Analyst
July 26, 2019 10:06 AM

  • FX snapshot: As US investors come to the fray, USD is the strongest on the back of positive US data while GBP is among the weakest.
  • Data recap: US GDP came in at +2.1% compared to +1.8% expected - the dollar jumped on the back of this. Meanwhile other US macro pointers were also not too bad, further reducing the odds for a large rate cut next week: Core PCE (Q/Q): 1.8% vs. 2.0% expected; Personal Consumption 4.3% vs. 4.0% expected, and GDP Price Index Q2 2.4% vs. 2.0% expected. German Import Prices -1.4% m/m vs. -0.8% expected. Meanwhile once again ECB trimmed its Eurozone growth forecasts to 1.3% for 2020, but kept unchanged its 2019 and 2021 estimates at 1.2% and 1.4% respectively. 
  • Stocks were mixed in Europe after yesterday’s sell-off, but the overall positive tone from   mostly positive earnings kept the bears at bay. Futures pointed to a positive start on Wall Street.
  • Earnings galore: big tech companies reported mostly better than expected numbers last night and in Europe Vodafone stole the show with its well-received earnings. Alphabet reported revenue that beat expectations and announced its biggest stock buyback in history - $25 billion worth of stock, no less. Meanwhile, Intel, which also beat profit estimates, agreed to sell the majority of its smartphone-chip business to Apple – the deal is valued at $1 billion. However, Amazon results disappointed investors as costs went up because of its one-day delivery service. Today, Twitter results showed revenue of $841.4 billion (higher than $828.49M expected), with and adjusted EPS of $0.05 (which was below $0.19 expected) – but shares rose as magnetisable Daily Active Users Beat Expectations. McDonald's EPS was in line at $2.05 with sales +5.7% vs. +4.4% expected.


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