Risk-on sentiment allowed Western Union to post 0.28% gain today

Published: January 25 2023, 21:30 GMT+0

Risk-on sentiment allowed Western Union to post 0.28% gain today

Today at a glance: after ending yesterday at $14.14, Western Union Co went up to $14.23 only to drop back, yet still traded well overall and closed at $14.18 today.

Western Union's uptick comes amid disappointing United States macroeconomic data released during the session – highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

Meanwhile, United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

This rally in Western Union's share price coincided with other financials stocks as Wells Fargo & Company was up 2%. HSBC Holdings traded at $37.08 after closing today's trading day at $36.69 (up 1.06%).

While Western Union was bullish today, the following financials stocks underperformed: HDFC Bank Limited closed at $66.93 (down 6.31%).

Furthermore, the market is looking at United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States GDP will be released, with an expected decline to 2.6 from the preceding figure of 3.2. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 205,000, following on from the preceding figure of 190,000. New data is set to be published tomorrow at 13:30 UTC.

Western Union hit a significant low of $12.43 around 2 months ago, but has since recovered 13.76%.

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