Last Week Risers & Fallers:
- Nasdaq – Nasdaq fell nearly 4.5% this week, and 1% on Friday as technology stocks sell-off continued. Analysts believe the slumping of tech stocks is related to the increasing bond yields, which is not suitable for tech stocks.
- APPLE (Nasdaq: AAPL) – Apple stocks were down 3.19% the last week and increased by only 0.10% on Friday. The stock closed at $172.17 per share.
- Gold – The gold price gained 0.41% on Friday after a disappointing NFP report. Gold is currently trading at $1796.50.
- EURUSD – The Euro gained against the US dollar as the dollar weakened with the release of the December jobs report. NFP reported 199K vs. the 400K expected number. EURUSD pair is currently trading at 1.1365.
Major events to watch:
- Australia (AUD): Retail Sales (MoM) – Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the leading indicator of consumer spending, which accounts for the majority of overall economic activity. Retail sales were 4.9% in December, which matched the forecast.
The report is due Tuesday, 11 January, at 00:30 GMT.
- USA (USD): US Core Consumer Price Index (MoM) – The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a crucial way to measure changes in purchasing trends and inflation. The CPI for December was 0.5%, as per forecast.
The report is due Wednesday, 12 January, at 13:30 GMT.
- UK (GBP): Manufacturing Production MoM – Manufacturing Production measures the change in manufacturers’ total inflation-adjusted value of output. Manufacturing accounts for approximately 80% of overall Industrial Production.
The report is due Friday, 14 January, at 07:00 GMT.
