Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Aussie bullish trend reveals an appetite for risk
2020-11-24 • Updated
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold further sell off disappoints traders who were looking for a bullish rebound. Gold broke down all retracement areas.
EU Market View
Asian equity markets were mostly positive amid several bullish factors including ongoing vaccine hopes, strong US PMI data and reports that President-elect Biden is to pick former Fed Chair Yellen for Treasury Secretary. President Donald Trump tweeted that he had told his team "do what needs to be done with regard to initial protocols", an indication he was moving toward a transition after weeks of legal challenges to the election results.
Further reports note that the EU and UK are on the cusp of a Brexit deal, with Barnier set to return to London on Friday, should he test negative for COVID. Looking ahead, highlights from macroeconomic calendar include German IFO, US Consumer Confidence, BoE's Haskel, Fed's Bullard, Williams, ECB's Schnabel, Lagarde, Lane speeches.
EU Key Point
- German states reportedly propose extending virus relief payments for companies into December
- Germany reports 13,554 new coronavirus cases in latest update today
- BOJ's Kuroda supports that will take additional easing steps if virus impact becomes more severe
- ECB's Lagarde and Lane will both speak on Tuesday
- Trump tweets that he "Will never concede"
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...
Commerzbank's analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year's highs. However, robust labor markets in both New Zealand and Australia and an expected...
What causes the yen to fall, and how does it behave against the USD, EUR, and AUD