‘Technical issue’ shuts ASX on Monday trade

1392247980730

The Australian Securities Exchange (ASX) closed its trading day earlier on Monday due to technical glitches in the trading platform. Up to $3.5 billion in turnover may have been missed by the Aussie share market after a series of technical difficulties and errors disturbed and ultimately closed the first trading day of the week.

Investors and brokerages can’t help but criticize the exchange’s suspension of the day’s trading session due to the same technical error that caused a 90-minute delay to Monday’s open. The issue was earlier said to have been resolved.

ASX Ltd. gave an earlier announcement in their official website regarding the delay saying, “ASX advises that there will be a delay with the opening of the ASX equities market. We are working to resolve this matter and updates will be provided as they become available.”

1385972639047

The exchange operator opened at 11:30 a.m. AEST—an hour and a half delay to the usual 10 a.m. opening—because a function that permits it to manage individual shares on its Nasdaq OMX equity trading platform was experiencing a technical issue, according to Matthew Gibbs, a spokesman for ASX in Sydney.

After a 57-minute trading and several reported operational errors, the ASX decided to close for the day. Shares only worth $1.2 billion were traded during the day, which was, according to CommSec market analyst Steven Daghlian, 20 percent of the share value traded the previous Monday.

Even before trading was halted, the ASX’s shares was already sliding by 2.4 percent in Sydney trading, while Australia’s equity gauge, the S&P/ASX 200 Index, experienced modest change.

“It’s been interrupted trade throughout the day so that’s kept the value and volume very light today,” Daghlian said. “From the ASX200 as an index, it’s just below 5,300 points still. So it’s been pretty quiet overall. If we look at the actual percentage moves so far we’re pretty flat and the market is still pretty close to its worst levels in 10 weeks. This is week six now that the market is in the red.”

With the average daily turnover for this year amounting to about $4.6 billion, ASX was unable to estimate the possible cost of the delays or the loss in overall turnover; but CMC Markets chief market analyst Ric Spooner think that traders may not have lost that much amount due to lack of market moving news on Monday morning.

“There are two drivers of how business might be lost, one is how long the market was closed for and secondly is what news has happened during the period it has been closed,” he told AAP.

“I’d say not a great deal has happened this morning, but we’ll never know.”

103949108-gettyimages-598776119-530x298

With policy meetings by the Bank of Japan and Federal Reserve looming this week, and the release of Reserve Bank of Australia’s (RBA) minutes of its recently held meeting on Tuesday, the glitches’ were very untimely for the investors and traders giving a thorough assessment of their positions.

Australia’s equity market is worth $1.1 trillion, making it the sixth-largest in the Asia-Pacific region.

“I’ve never seen anything quite like this before,” Niv Dagan, the Melbourne-based executive director at Peak Asset Management LLC, said in a phone interview. “It’s frustrating because they said they’d fixed it. We’d hope the ASX sorts things out by tomorrow to allow traders to exit positions before the Fed meeting. You’ve got traders and fund managers looking to change their portfolios before that, and unfortunately, they can’t do that.”

Online media is flooded with finance news here and there. However, Trade12 gives you the freshest update in the market daily. Trade12 provides daily market charts as well. Visit Trade12 now!

Interested in trading binary options. Don’t go anywhere else, try Options12.com.Options12.com brings your money back to you, the difference? Options12 prioritizes each client in maximizing his/her trading potential.

Financial trouble? Let Exo Capital Markets manage your funds accordingly. Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

SNAPCHAT RAISE IN VALUATION PAVES WAY FOR POSSIBLE IPO

snapchat-logo-on-phone

Snapchat, one of the fastest growing messaging and social media platforms in terms of user base, expressed plans of going public later this year or early in 2017. In a Recode conference, May 2015, Evan Spiegel expressed this. “We need to IPO…. We plan to do this,” the Snapchat CEO and Co-founder said.

Snapchat is a VC-backed tech startup that started only as a class project by Evan Spiegel (current CEO), Reggie Brown, and Bobby Murphy—all former students of Stanford University. It was officially launched in 2012.

What separates it from its messaging and social media app counterparts is its “ephemereal” nature. The application permits its users to take photos, record videos, and add texts and drawings. It’s like your next-door Messenger only that the photos and videos disappear within seconds after the recipient views them. The length of time of the message’s appearance depends on what was set by the sender. It is mostly popular among 13-24 year-olds, the highly targeted demographic market by most tech startups.

This “self-destruct” feature is the main contributing factor to its high user base—with 100 million active users daily. This high volume of traffic attracts many advertisers which Snapchat strategically uses to their advantage. The tech unicorn charges a whopping $750,000 minimum for a day of advertising. This is a direct contrast to the traditional per click payment when advertising online. This proves to be a good strategy though, since with its advertising products being revved up comes the pump to its revenue numbers.

It is expected that in 2017 Snapchat will near $1 billion in advertising revenues. The same amount of revenue is predicted to double in 2018.

Also, the popular messaging app was able to raise $1.8B in an extension to its Series F funding round which further hiked its valuation from $16B earlier this year, to $18B.

This promising boost in revenue and the increase in valuation stress strong investor interest in the company despite freeze in IPO market.

Online media is flooded with finance news here and there. However, Trade12 gives you the freshest update in the market daily. Trade12 provides daily market charts as well. Visit Trade12 now!

Interested in trading binary options. Don’t go anywhere else, try Options12.com. Options12.com brings your money back to you, the difference? Options12 prioritizes each client in maximizing his/her trading potential.

Financial trouble? Let Exo Capital Markets manage your funds accordingly. Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

Dollar Strengthens, Gold Slips on Hawkish Fed comments

The dollar edged higher on Wednesday as the outlook for the U.S. interest rate hike turned positive following the hawkish comments from the Central Bank officials.

The U.S. currency regained its strength after hitting a 7-week low against the yen as the positive views of the Federal Reserve officials boosted the outlook for the greenback.

Dollar

Since late last week, the dollar had been on the defensive against other major currencies as weak economic indicators lowered the anticipation for a near-term rate increase.

But it quickly recovered on Wednesday, following the hawkish comments expressed by the Atlanta Fed President Dennis Lockhart, who mentioned that two rate increases this year was a possibility, and by New York President William Dudley, who said there is a likelihood that the Central Bank could boost interest rates as soon as September.

“Hawkish views from Fed officials can prompt short covering in the dollar, but they are not sufficient enough to kick off an uptrend,” said a forex analyst at IG Securities in Tokyo.

“This is because the markets now expect only one or two rate hikes this year, when at the end of 2015 they had expected up to four,” he further added, as he believes that the negative economic developments in Europe and Britain following the Brexit affected the decision of the Central Bank and cancelling out any lift from positive U.S indicators.

The dollar index, which measures the greenbacks strength against other major currencies, was 0.3 percent higher at 95.025, recovering from its seven-week lows of 94.426.

The currency markets will await new hints from comments expected from the St. Louis Fed President James Bullard and the release of the Fed’s July meeting minutes due today at 2 pm Eastern Time.

“I would not rule out September. If the meeting were today, I think the economic data would justify a serious discussion” of whether to increase rates now, the Atlanta Fed President told reporters after his speech on Tuesday.

Gold Edges Lower on Positive Rate Hike Outlook

The price of safe-haven gold weakened on Wednesday, reversing its gains in the previous session as investors await fresh clues from the minutes of the Fed’s July Policy meeting due to be released later in the day.

It pushed the price of the dollar higher, which was up at 101.100 yen on Wednesday, 0.8 percent higher compared to its previous session’s price of 99.550.

The precious metal is very sensitive to the movement of the U.S. rates, as higher interest rates increases the “opportunity cost” of owning gold, which yields no income and costs money to hold.

Spot gold edged lower at $1,343.78 an ounce.

U.S Gold fell 0.67% or $9.10 to trade at $1,347.80 per ounce by 6:41 am ET.

Visit www.trade12.com and www.options12.com to receive up-to-the minute updates about the financial markets. Both brands are owned and supported by Exo Capital Markets Ltd, a company dedicated to provide the highest quality of services to its clients.

Boeing Books 73 Commercial Aircraft Orders

Boeing Corporation’s made 73 commercial aircraft orders in July worth almost $8.86 billion following the successful deal with Mauritania Airlines.

In July, the company delivered a total of 54 commercial aircraft to six lessors and 33 airlines, which includes three aircraft deliveries for Southwest Airlines and another three for Hainan Airlines. From that, Boeing had a year-to-date commercial aircraft delivery of 420.

The American aircraft juggernaut settled successive transaction with four of the largest airlines globally. Before July ended, Malaysia Airlines finalized the order of 25 737 MAX 8 and a 737 MAX 9 worth $2.75 billion. It was followed by the six 787-9 Dreamliners order of Ruili Airlines worth $1.59 billion.

earns-boeing--8993d17c2f3fb52c

Further, TUI Group, a multinational travel and tourism company headquartered in Germany disclosed the 10 737 MAX 8 orders worth $1.1 billion during the Farnborough Airshow last July 12. Another $2.2 billion worth of order from unnamed companies was made as well.

Among the loyal customers of Boeing include Shandong Airlines, American Airlines, Turkish Airlines, Xiamen Airlines, Emirates Airline, China Southern Airlines. Also, Irish-American lessor GECAS and SWISS, Nippon Airways, Air New Zealand, MG Aviation, Ethiopian Airlines, Qatar Airways and Royal Air Maroc are part of the list.

Boeing and Mauritania Airlines

Aside from the mentioned airlines above, Boeing has closed the deal with Mauritania Airlines. The flag carrier of Mauritania ordered for a Next-Generation 737-800 airplane worth $96 million.

Delta_Air_Lines_Boeing_737-800_cabin

Chief executive officer of Mauritania Airlines Mohamed Radhy Bennahi said  “The Boeing 737 is the backbone of Mauritania Airlines fleet because of its efficiency and superior operating economics. The addition of this new 737-800 will greatly expand our network and enhance the overall travel experience of our passengers.”

On the other hand, Van Rex Gallard, vice president of Sales for Africa, Latin America and the Caribbean, Boeing Commercial Airplanes, noted the significant contribution of Mauritania Airlines in West African aviation for the past few years.

Mr. Gallard said that the order for one additional 737-800 underlines Mauritania Airlines’ position as a leading carrier committed to providing its passengers with a growing choice of destinations and exceptional in-flight comfort.

Boeing Stock Performance

Previously, shares of Boeing went up 0.38 percent to $132.19 with a market capitalization of 82.79 billion. The American multinational aircraft corporation has a price earnings ratio of 24.28 and a dividend yield of 3.30 percent.

download

The stock has a 52-week high of  $150.59 and a 52-week low of $102.1. Boeing has a price to book value of 143.18, a return of assets value of 4 percent and a return of equity ratio of 83.9 percent. It has an outstanding shares  of 625.68 million and a total shares float of 623.16 million.

Further, Boeing has a 50-day simple moving average of $130.67 and a 200-day simple moving average of $131.28. The stock is one of the components of Dow Jones and headed by CEO Dennis A. Mulieburg. It has been prominent through its commercial jetliners, military aircraft, missile defense and satellites.

Can’t find the right instrument to trade? Try binary options at Options12.comOptions12 offers a comprehensive selection of 180 tradeable assets, including currencies, commodities, stocks and indices. Start options trading with a minimum investment of 250 and Earn up to 80% profits with just one click at Options12.

Do you need daily market updates? Visit Trade12.comTrade12 offers daily market analysis with charts to help the clients understand the market better! You can also check important events through its economic calendar. Trade12 makes sure that it is always fast, simple and easy.

Having trouble with your finances? Are you in need of professional financial advice? Exo Capital Markets is headed by an exceptional team of financial leaders and innovators who account for years of experience and expertise in the financial industry. Exo Capital Markets offers a wide array of reliable, secure, and competitive financial services to over 100 countries.

 

Oil futures Steady Before U.S. Stockpile Data

Oil futures recovered from the recent slump despite the oversupply concerns as market players expected a downbeat U.S. crude stockpiles data to be announced later today.

Crude oil stockpiles are expected to drop around 900 barrels on average while the gasoline stockpiles are predicted to slide by 300,000 barrels. Also the stocks distillates may decline around 100, 000 barrels by the analysts.

In line with this, the American Petroleum Institute forecasted a decline of 1.3 million barrels of the U.S crude supplies from July 25 to July 29. The distillate stocks are estimated to increase approximately 539,000 and the gasoline stocks to drop by 450,000 barrels-higher than the analysts’ expectations.

shutterstock_431674684.jpg

Market players agreed that the oversupply in the oil market would still remain despite the forecasted decline of the stocks. Some of the drillers may even comeback to the fields as the U.S. traded oil is predicted to fall around $35 per barrel.

Earlier today, light sweet crude futures for September delivery on the New York Mercantile Exchange changed hands $0.23 higher to $39.74 per barrel while the Brent crude for October delivery on London’s Intercontinental Exchange Futures climbed $0.19 to trade $41.99 per barrel.

ICE gasoil for August delivery increased $1.75 to $359.000 per metric ton while the Nymex reformulated gasoline blendstock for September delivery advanced 25 points to trade $1.3141 per gallon. Also, September diesel changed hands 70 points higher at $1.2660.

Organization of the Petroleum Exporting countries reported an increase of supply from 33.31 million barrels per day in June to 33.41 million barrels per day in July.

Adding to the oversupply sentiment was the highly anticipated come back of productions in Nigeria as well as in Libya. The output of the two countries, which are under supply disruption concerns at the moment, will likely add to the uncontrolled supply upsurge.

shutterstock_430098829

Tim Evans, a Citi Futures analyst, said’ Our impression of the overall API figures for last week is that the swings are likely too small to put prices onto a different, more bullish path.”

Meanwhile, oil refineries in Japan, South Korea and China may reduce their respective production to ease off their storage. Gasoline and diesel inventories managed by the locals in China have surged 16.6 percent to 576,000 metric tons in the first two weeks of July. Relatively, the increase of inventories was the outcome of poor demand of the commodity.

The total crude imports in China is expected to decline in the coming months. Song Yen Ling, senior analyst with Platts China Oil Analytics, estimated that from the averaged 7.5 million barrels per day crude imports of China, it might decline to 7.3 million barrels per day. Song explained that When prices are in a downtrend, refiners tend to buy less because they don’t want to be stuck selling products priced at $40 when prices drop to $35.

Looking for the most trusted financial service provider? Here’s Exo Capita Markets. Exo Capital Markets  aims to provide the financial ideas needed by the clients through the market news and analysis delivered regularly. Exo Capital Markets offers a wide array of reliable, secure, and competitive financial services to over 100 countries.

Market analysis? Technical charts? Trading eBooks? Economic Calendar. You may be searching for the most user-friendly and educational trading platform. Trade12 provides everything that you need to know about the market today. Open a live account now at Trade12.

Is binary trading all new to you? Then, Options12.com could be the  perfect choice for you! Options12.com  provides the most efficient online trading platform geared with the advanced technology and delivers a simplified trading environment both for amateur and experienced traders, with limited trade risk and short term expirations.

Greenback Rebounds on Weak GDP Data

The U.S. dollar rebounded from its previous losses after the weak gross domestic product report last week. Following the lost of the greenback was the peak of the Japanese yen as the Bank of Japan disappointed the analysts on their stimulus program.

During the weekend, the dollar traded close to its lowest level in July as the investors had an unfavorable response on the possibility of a rate hike  by September 2017.

In line with this, a director of a currency and rates risk-management company claimed that the GDP was a massive miss, thus, the huge dollar sell off that ensued was not a surprise anymore. He also explained that the immediate risk at the moment was for a bit of further weakness in the U.S. dollar on the moderated monetary tightening view.

However, the U.S dollar recovered earlier today advancing 0.4 percent to 102.42 yen while the dollar index rose 0.1 percent at 95.578.

us-dollar-currency-forecast-8

Last Friday, the Commerce Department reported an annual growth of 1.2 percent of the U.S. gross domestic product from April to June, lower than the expected 2.6 percent increase by the economists.

A currency strategist  noted that the U.S. dollar advance was stopped in its tracks by the disappointingly weak Q2 GDP figures. He added that the  FOMC statement earlier in the week did not leave the impression that a September hike was likely, and with the poor growth numbers, the odds were downgraded further.

Federal Reserve

The U.S central bank left the interest rate unchanged from its previous policy meeting as the committee awaited for a more stable economic report after the impact of post-Brexit. The Fed noted the improvement of the labor market in June compared to the weak growth in the previous month.

Further, the central bank signaled for a gradual increase of the federal funds rate as it looks for steady inflation rate and better economic reports. On Friday, the nonfarm payrolls data will be released most of the economists agreed that there could be an increase of 175,000 jobs.

federal-reserve-eric-allix-rogers-01

Speaking from a conference in Bali,  Federal Reserve Bank of New York President William Dudley said that it’s premature to rule out further monetary policy tightening this year. On the other hand, Dallas Fed President Robert Kaplan mentioned in his interview that the central bank must be more considerate and should not overreact on the weak GDP report in relation to its intention to raise hike soon.

Bank of Japan

The BOJ disappointed the  investors after its underwhelming stimulus program announced after its two-day policy meeting last week. The central bank of Japan decided to double its annual exchange-traded fund (ETF) purchases to $59 billion and held the negative deposit rate.

Due to the statement of the bank, the yen found its strength again, adding to the bullish trend of the currency. Adding to this, Prime Minister Shinzo Abe is expected to announce a $28 trillion yen fiscal stimulus package on August 2, Tuesday.

rtx2bz6x

Takuya Kanda, a senior researcher at Gaitame.com Research Institute Ltd, said ‘Dollar-yen is rebounding after being sold off too aggressively, But, if upcoming data strengthens the scenario where a rate increase next month isn’t possible, dollar-yen could break 100 this week.’

Looking for the most trusted financial service provider? Here’s Exo Capita Markets. Exo Capital Markets  aims to provide the financial ideas needed by the clients through the market news and analysis delivered regularly. Exo Capital Markets offers a wide array of reliable, secure, and competitive financial services to over 100 countries.

Market analysis? Technical charts? Trading eBooks? Economic Calendar. You may be searching for the most user-friendly and educational trading platform. Trade12 provides everything that you need to know about the market today. Open a live account now at Trade12.

Is binary trading all new to you? Then, Options12.com could be the  perfect choice for you! Options12.com  provides the most efficient online trading platform geared with the advanced technology and delivers a simplified trading environment both for amateur and experienced traders, with limited trade risk and short term expirations.

Global Stocks Rally Ahead Fed Decision, Tech Up on Pre-Market

As the market waited for more earnings report for the second quarter, global stocks remained moderately higher supported by the forecast that the Federal Reserve may leave the interest rate unchanged after its policy meeting later today.

Nasdaq 100 futures went up 0.63 percent, while the Dow Jones futures increased 0.18 percent. The S&P 500 advanced 0.17 percent after trading bullish for the past few sessions.

The Federal Reserve is expected to keep its rates as the U.S. economy still couldn’t find a decent recovery from its stability. After delaying the rate hike last month, the central bank will likely push the plan in September or before the end of the year.

Federal-Reserve-DC.jpg

Aside from the Fed meeting, the market closely watched the reports of the Commerce Department and the National Association of Realtors regarding the durable good orders and pending home sales data respectively.

After the downbeat report of the American Petroleum Institute on the crude oil stocks, the government Energy Information Administration will release its weekly  crude stockpile and production as well. During the previous sessions, oil futures extended losses as the market remained to be severely over supplied.

Tech Stocks

Apple advanced 7.48 percent in the pre-market session, but it stayed flat after the market closed. Apple recently reported a decline of its iPhone sales on its third quarter earnings report. The tech juggernaut disclosed a revenue of $42.36 billion and an earnings per share of $1.42, beating the analysts’ expectations. The stock remained to be the biggest company by market capitalization globally.

Meanwhile, tech experts remained optimistic in the earnings report of Facebook as the company sounded successful on its venture on WhatsApp and Messenger. Facebook has indicated recently from the previous reports the development of its Facebook Live, encouraging more users for the application.

Facebook-m_3543125b-large_trans++pJliwavx4coWFCaEkEsb3kvxIt-lGGWCWqwLa_RXJU8

Facebook has been changing hands in light volume, climbing 0.99 percent in the pre-market, but stayed flat to $121.22 with a market capitalization of 345.56 billion. The stock has a price earnings ratio of 74.27. Analysts forecasted an increase of 62 percent on its earnings per share in the second quarter and the revenue to jump by 50 percent or $6 billion.

Auto Industry

After finally closing the deal with Malaysia Airlines, Boeing opened 2.19 percent higher before it ended flat to $134.85. The American aircraft manufacturer had a market capitalization of 87.14 billion, with a dividend yield of 3.23 percent.

Market analysts expected the stock to have an adjusted earnings per share of 37 percent to $2.22. However, the revenue was forecasted to plummet by 2 percent or $24.04. Currently, Boeing Co has a price earnings ratio of 18.21.

boeing.jpg

Aside from 50 MAX 737 orders from the Malaysia Airlines, the aircraft company was reported of taking $393 million after tax-charge from its KC-46 tanker program intended for the Airforce. Its Commercial sector is also having an after charge of  approximately $814 million on its 747 program and $847 million from its 787 Dreamliner.

Consumer Products

In other news, Pepsi Corporation surpassed the analysts’ expectations and reported quarterly earnings based on the forecasts of the market experts.

Pepsi’s major competitor, Coca-Cola is expected to have $11.64 billion revenue, down by 4.2 percent and an earnings per share dropping for almost 8 percent. Coca Cola lost 2.47 percent to $42.74 in the session earlier with a market capitalization of 186.49 billion. The stock had a dividend yield of 3.20 percent and a price earnings ratio of 26.45.

Financial trouble? Let Exo Capital Markets manage your funds accordingly. Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

Online media is flooded with finance news here and there. However, Trade12 gives you the freshest update in the market daily. Trade12 provides daily market charts as well. Visit Trade12 now! Interested in trading binary options. Don’t go anywhere else, try Options12.com.Options12.combrings your money back to you, the difference? Options12prioritizes each client in maximizing his/her trading