Back to daily news


Shares of Ocado Group (LON: OCDO), the British online supermarket and technology group, increased more than 4% in morning trading on Tuesday after the firm’s sales jumped by 7.2% to £569.6 million in its third quarter, up from 5% in the first half of the year.


Shares of Ocado Group (LON: OCDO), the British online supermarket and technology group, increased more than 4% in morning trading on Tuesday after the company’s retail arm, which operates as a joint venture with Marks and Spencer Group, sales jumped by 7.2% to £569.6 million in its third quarter, up from 5% in the first half of the year. Ocado Group provides end-to-end online grocery fulfilment solutions to some of the world’s largest grocery retailers and holds a 50% share of Ocado Retail in the UK.

"We are delivering on this plan and have great momentum in the business, with revenue growing faster in Q3 than in H1 and a return to positive volume growth in the last month of the quarter." - Ocado Retail's CEO Hannah Gibson said. “The continued progress in Q3 underpins our confidence in delivering our FY23 guidance of mid-single digit revenue growth and full-year profitability, and we have started the final quarter positively,” Gibson added.


Global stocks and U.S. equity futures were little changed as investors held off big bets ahead of rate decisions by the U.S. Federal Reserve and several other central banks this week. Markets widely anticipate that the US central bank will keep interest rates unchanged, but the meeting may offer additional insights into the timing of interest rate peaks.


Crude oil prices enjoying the rally and hovering at the highest levels in over ten months. However, based on price historical data we expect choppy conditions on the current zone. As the US session approaches prices could struggle in the absence of liquidity with the FOMC meeting outcome and the weekly crude inventory reports still to come this week.

In the currency market, the Australian dollar regained momentum after the RBA meeting minutes showed, that the policymakers of the Reserve Bank of Australia discussed raising the interest rate by a further quarter point at the September meeting. Meantime, the British pound struggling to recover from the recent loss as investors wait for the BOE’s decision on interest rates.


Bulls take control of precious metals, especially the gold price. However, the bulls need to see a confirmed break above the crucial resistance area of $1940 for further upside. Moving ahead to the North American session, gold traders should closely monitor the release of US housing data that could influence tomorrow’s Federal Reserve monetary policy meeting outcome.

Economic Outlook

On the data front, Eurozone inflation data for August showed a slight decline in headline inflation, while core inflation was in line with expectations. The annual inflation rate in the Euro Area was revised lower to 5.2% in August 2023 from an initial estimate of 5.3%, marking the lowest reading since January 2022. On a monthly basis, the CPI went up 0.5%, slightly below 0.6% in the first estimate.

Moving ahead today, the important events to watch:

US – Housing starts and building permits: GMT – 12:30

Canada – CPI: GMT – 12.30

Technical Outlook and Review

EURUSD: For today, If the upside momentum continues then the next upside level is to watch at 1.0700 and 1.0720. On the flip side, rejection, and pullback from the 1.0700/20 resistance area allow for a dip towards 1.0650 and with 1.0630/20 forming additional downside targets.


The important levels to watch for today: Support- 1.0650 and 1.0630 Resistance- 1.0700 and 1.0720.

GOLD: For today, the immediate resistance for gold is near $1940 break this and close above this resistance level then expect the market to zoom up to $1948/50. On the downside, any meaningful pullback now seems to find some support near the $1920/18 zones.

gold neww

The important levels to watch for today: Support- 1925 and 1918 Resistance- 1911 and 1916.

Quote of the day “I have been trading for decades and I am still standing. I have seen a lot of traders come and go. They have a system or a program that works in some specific environments and fails in others. In contrast, my strategy is dynamic and ever-evolving. I constantly learn and change.” – Thomas Busby.

Read more



The US dollar continued the advance across the board and reached the strongest levels in 10- months on speculation that the Federal Reserve would continue to raise interest rates. Technically the current price action signals suggest that a medium-term bullish trend remains intact. While the fundamental ingredients are in for the dollar to resume its rally, technicals point to overstretched to the upside.



Chinese smartphone giant Huawei is set to enter the automotive industry. The Chinese brand unveiled two new electric cars — its first sedan and a high-end SUV on Monday. The electric cars are part of a joint collaboration between Huawei and electric vehicle maker Chery.



Stocks across the globe extended the slide on Friday morning following the release of disappointing flash purchasing managers' index readings from European economies. Another factor that has negatively affected the stock market is mainly due to the Fed's signal that interest rates will remain higher for an extended period.



The British pound slipped below 1.2300 against the US dollar ahead of the Bank of England interest rate announcement. The central bank is expected to raise interest rates by another 25 basis points to 5.5% today. If the BoE raises interest rates, it will be the 15th consecutive hike.