ข่าวสารตลาด & มุมมองเชิงลึก

The EUR has been on a ‘recovery rally’ since it fell below parity level with USD earlier this year. With inflationary pressures potentially easing across the world the USD has finally taken a breath. The currency which has been haven for many market participants in dealing with the high volatility finally saw a dip after weaker than expected US CPI figures last week.

Since this time the USD Index or DXY has fallen by nearly 4.5% which is a significant drop. This has had an overall positive impact on currencies that were struggling such as the AUD, JPY and of course the EUR. Whilst the EUR has provided a positive move in recent weeks and days there is still some geopolitical concerns especially with the news of a missile killing two citizens in Poland earlier this week.

Technical Analysis The weekly chart shows that price is currently testing a long terms resistance level at 1.0352. This level acted as support for almost 7 years prior to being broken and therefore has become a significant level. In addition, the price is also fighting against the 50-week moving average which is at 1.0588.

The 50 week moving averages is also a short-term long target for long trades. Looking more closely at the daily chart, the price is showing an important signal that it has not done since May 2020. The price is testing the 200-day moving average.

If it can break through it may represent a bullish signal. The last time the price broke through this level it managed to go from 1.10 to 1.23. This time around, the currency pair is having to fight inflationary pressures which may create a headwind.

The price action is still showing a potential price target of 1.06 in the near term and if it can break through the 200-day moving average and a longer-term target of 1.15.

Walmart Inc. (NYSE: WMT) announced its latest financial results before the market open in the US on Tuesday. World’s largest supermarket chain reported total revenue of $152.8 billion for the quarter (up by 8.7% year-over-year) vs. $147.668 billion expected. Earnings per share reported at $1.50 per share (up by 3.4% year-over-year) vs. $1.321 per share estimate. ''We had a good quarter with strong top-line growth globally led by Walmart and Sam’s Club U.S., along with Flipkart and Walmex.

Walmart U.S. continued to gain market share in grocery, helped by unit growth in our food business. We significantly improved our inventory position in Q3, and we’ll continue to make progress as we end the year. From The Big Billion Days in India, through our Deals for Days events in the U.S. and a Thanksgiving meal that will cost the same as last year, we’re here to help make this an affordable and special time for families around the world.

We have an amazing group of associates that make all this happen, and I want to say thank you,'' President and CEO of Walmart, Doug McMillon said in a press release. Walmart raised its full-year outlook after its strong Q3 results and announced a $20 billion share buyback program. Shares of Walmart were up by 6.54% on Tuesday at $147.14 a share.

Stock performance 1 month: +10.69% 3 month: +54% Year-to-date: +62% 1 year: +71% Walmart price targets Jefferies: $165 Keybanc: $155 Morgan Stanley: $150 DA Davidson: $163 Cowen & Co.: $165 Stifel: $149 Oppenheimer: $155 Credit Suisse: $145 Deutsche Bank: $162 Citigroup: $162 Walmart is the 14 th largest company in the world with a market cap of $402.87 billion. You can trade Walmart Inc. (NYSE: WMT) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: Walmart Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap

NIO Inc. (NYSE: NIO) announced Q3 financial results before the market open in the US on Thursday. The Chinese automaker fell short of analyst estimates for the quarter. The company reported revenue of $1.827 billion (up by 26.3% from the same period last year) vs. $1.836 billion estimate.

Loss per share reported at -$0.297 per share vs. analyst estimate of -$0.147 loss per share. ''NIO delivered 31,607 vehicles in the third quarter of 2022, representing a solid growth of 29.3% year-over-year and achieving a record-breaking quarterly delivery. Following the delivery of our new product lineup based on NIO Technology 2.0 catering to different market segments, we have witnessed strong growth momentum in user demand and robust foot traffic, especially after the debut of ET5s in stores from September, and expect the ET5 delivery will support a substantial acceleration of our overall revenue growth in the fourth quarter of 2022. To meet the growing user demand and shorten the waiting time, we have been working closely with supply chain partners to accelerate production and delivery,'' William Bin Li, founder, chairman and CEO of NIO said in a press release after the latest numbers were announced.

NIO expects revenues of between $2.442 billion and $2.703 billion in Q4, which would be an increase of between 75.4% to 94.2% from the same period last year. Shares of NIO were up by over 10% on Thursday, despite missing Q3 estimates as the company looks to accelerate production and delivery to meet growing demand in Q4. Stock performance 1 month: -18.74% 3 month: -50.12% Year-to-date: -67.22% 1 year: -75.39% NIO price targets Morgan Stanley: $31 HSBC: $28 Goldman Sachs: $56 Barclays: $34 Mizuho: $42 Citigroup: $31.3 B of A Securities: $26 UBS: $32 Barclays: $19 Deutsche Bank: $20 NIO is the 23 rd largest automaker in the world with a market cap of $17.71 billion.

You can trade NIO Inc. (NYSE: NIO) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: NIO Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap

The Walt Disney Company (NYSE: DIS) reported the latest financial results for the fourth quarter and fiscal year ended October 1, 2022, after the closing bell in the US on Tuesday. The biggest entertainment company in the world missed both revenue and earnings per share estimates (EPS) for the quarter. The company reported revenue of $20.15 billion for the quarter (up by 9% year-over-year) vs. the $21.268 billion estimate.

EPS reported at $0.30 per share (down by 19% year-over-year) vs. the $0.558 per share expected. Revenue reached $82.722 billion for the fiscal year that ended October 1, 2022 – up 23% from the previous year. EPS reported at $3.53% per share, up by 54% from 2021. ''2022 was a strong year for Disney, with some of our best storytelling yet, record results at our Parks, Experiences and Products segment, and outstanding subscriber growth at our direct-to-consumer services, which added nearly 57 million subscriptions this year for a total of more than 235 million,'' Bob Chapek, CEO of Disney said in a press release. ''Our fourth quarter saw strong subscription growth with the addition of 14.6 million total subscriptions, including 12.1 million Disney+ subscribers.

The rapid growth of Disney+ in just three years since launch is a direct result of our strategic decision to invest heavily in creating incredible content and rolling out the service internationally, and we expect our DTC operating losses to narrow going forward and that Disney+ will still achieve profitability in fiscal 2024, assuming we do not see a meaningful shift in the economic climate. By realigning our costs and realizing the benefits of price increases and our Disney+ ad-supported tier coming December 8, we believe we will be on the path to achieve a profitable streaming business that will drive continued growth and generate shareholder value long into the future. And as we embark on Disney’s second century in 2023, I am filled with optimism that this iconic company’s best days still lie ahead,'' Chapek added.

Shares of Disney were little changed at the end of the day on Tuesday, down by 0.53% at $99.94 a share. The stock fell by around 9% in the after-hours trading after missing Wall Street estimates for the previous quarter. Stock performance 1 month: +7.30% 3 months: -7.61% Year-to-date: -35.50% 1 year: -42.95% Walt Disney price targets Keybanc: $143 UBS: $135 Rosenblatt: $134 JP Morgan: $145 B of A Securities: $127 Arete Research: $263 Credit Suisse: $157 Wells Fargo: $145 Goldman Sachs: $140 Walt Disney is the 50 th largest company in the world with a market cap of $182.12 billion.

You can trade The Walt Disney Company (NYSE:DIS) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: The Walt Disney Company, TradingView, Benzinga, CompaniesMarketCap

Bitcoin has dropped dramatically over the last 24 hours to its lowest level for the year after fears were sparked that major player FTX faced a liquidity crisis. In the last two years cryptocurrency has become available to large institutions and funds which has increased the overall size of the market. However, at the same time it has made it vulnerable to large liquidity events such as the one that is occurring now.

The reason for the large drop-off was the news that exchange FTX was facing serious liquidity issues after a large drop in the price of Bitcoin and other cryptocurrencies this year. Subsequently almost as an act of mercy, Binance the world’s largest cryptocurrency exchange has proposed that it will buy out FTX and its subsidiaries to stabilise the market. In addition, fears over customers’ ability to withdraw their funds from accounts were abounds on Tuesday.

This is not the first-time withdrawal issues have hurt the sector with frozen accounts being an issue when Celsius was facing difficulties. This run has seen the price of Bitcoin fall sharply to its lowest levels since November 2020. The price dumped about USD 2000 as the news hit the market.

The price then bounced of the USD 17,000 level to where it now rests near in the mid USD 18,000’s. The volume sold was the highest level since June 2022. Importantly, the price continues to hold its longer term range indicating some level of strength at the USD 18,000 level.

There is still a fair bit to play out regarding this potential merger. A failed deal or an accelerated acquisition could either help or hinder the price of Bitcoin and other cryptocurrencies.

In recent days and weeks there have been rumours that China is beginning to consider an easing of its Covid restrictions. As virtually the last country with extreme Covid restrictions, a shift in policy from China would be a major catalyst for the global markets and economy. Whilst the CCP has not yet announced any actual easing, there are hopes that they will soon begin to ease off on some of their measures.

Health officials have stated that local governments should not “double down” on restrictions and allow people’s livelihoods and economic activity to remain normal even in the face of increasing covid cases. General activity has shown an increase in flights and covid vaccine uptake across the country which may signal a move towards ending restrictions. Impact on the markets The country is set to have one of its worst years of growth in the last 20 years as it deals with the prolonged restrictions.

The Shanghai Stock Exchange has fallen by more than 17% and the Yuan has depreciated almost 17% against the USD. This is in the wake of global inflation and recessionary pressures. A strong China is a very good thing for the global economy, especially with regards to growth economies.

Once restrictions do ease, it is expected that Chinese stocks will rally heavily. However, it is not just Chinese stocks that will receive a boost. Australian mining companies and the AUD will likely benefit as China is a large importer of Australian resources.

It may also weaken the USD as money flows back into riskier assets and away from the greenback as the general economy begins to accelerate again. Ultimately, regardless of when exactly, China decides to ease its restrictions it would be prudent to be aware of the potential ramifications as it may provide a strong boost to the equities market and on some aspects of the foreign exchange market as well.