Look ahead: Consumer confidence; Ocado; Bellway; Flutter; Fevertree
In a shortened week, investors will be looking to consumer confidence figures from the US, Germany and Australia for a grasp of where those economies are headed.
We look at Ocado’s technical signals ahead of its trading statement. Flutter Entertainment and Fevertree report full-year numbers, while Bellway releases first-half results.
(AI Video Summary)
Shorter market week, but plenty of economic data expected
In today's "Look ahead" video, Angeline Ong gives an outlook on the upcoming week in the trading markets. Don't worry if you're new to trading, because she will break it down for you in simple terms. It's important to know that it will be a shortened week for many markets, but that doesn't mean there won't be important events to keep an eye on, especially on the economic front.
One of the things to watch out for is the release of consumer confidence numbers for Australia, the US, and Germany. Consumer confidence is basically a measure of how optimistic people feel about the economy. For example, in Germany, their consumer confidence forecast for April is expected to be at -27.8. This means that people in Germany are still unsure about the economy's recovery from the pandemic. On top of that, Germany is also facing pushback from farmers who feel less competitive because of green regulations.
US indicators
In the US, the week is going to be quite busy with lots of economic indicators to keep an eye on. These include durable goods orders, the S&P/Case-Shiller home price index, CB consumer confidence numbers, and API crude oil inventories. All of these indicators give us clues about the strength of the US economy. It's worth mentioning that the value of the US dollar has been mostly going sideways but slowly increasing in recent sessions. This could be due to the Federal Reserve being cautious about making any sudden changes to interest rates.
Ocado
Moving on to the UK, Ong highlights an important trading statement from a company called Ocado. Their shares have been on a downward trajectory since 2023, with expectations of further downside momentum. There's an article by Chris Beauchamp that gives a more detailed technical analysis of Ocado, so it's worth checking that out if you're interested.
Full-year numbers for companies
Ong also mentions upcoming full-year numbers from a few more companies like Flutter Entertainment, John Wood Group, Fevertree, and Bellway. These reports give us insights into how well these companies have been performing.
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