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.
Cable climbs to fresh two-month high
2020-11-10 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a new bullish outlook.
XAG/USD: Silver remains below 61.8% retracement area. Silver bulls after a remarkable sell off yesterday buy passively today.
US Market View
US stock markets are set to open mixed as the post-Pfizer rally is reassessed, but cyclicals are still clearly outperforming the growth and momentum names that have notched the biggest gains during the pandemic. The US registered over 100,000 new cases of Covid-19 for the fourth straight day on Monday, with surges in California, Texas and New Mexico. California Governor Gavin Newsom said the reopening process would have to be scaled back in some counties. Crude oil prices added to Monday’s gains on hopes that a Covid-19 vaccine will allow the reopening of the world economy to proceed earlier than thought. The European Union continued to set out its stall for the new US administration by reviving its threat to impose new sales taxes on digital companies if there is no international agreement on how to tax them.
The Trump administration had walked away from a multiyear process on work for a new framework agreement under the auspices of the Organization for Economic Cooperation and Development earlier this year.
The announcement comes a day after the EU imposed tariffs on Boeing and other U.S. producers in line with a WTO ruling that the aircraft maker received illegal support from the U.S. government. In Europe on Tuesday, German economic sentiment, as measured by the ZEW index, fell for a second straight month as Germany posted a new record of Covid-19 cases in intensive care.
UK job losses also hit a new monthly record and the jobless rate hit a four-year high as the government’s wage support scheme petered out.
USA Key Point
- The GBP is the strongest and the CHF is the weakest.
- EUR/USD falls to session low.
- French PM Castex to hold news conference on Thursday evening regarding virus situation in France.
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.
The month of February saw markets make several instinctive moves as well as create opportunities for proper leveraging of fundamental releases. Despite being a leap-year, there wasn’t any real impact on price delivery in the course of the month. As we await the opportunities that lie ahead in the month of March, here are a few thoughts to consider.
USD/CHF saw a rebound after declining for two days straight, climbing towards the important psychological level of 0.8800 during Wednesday's early Asian trading session. There's some pressure on the Swiss Franc (CHF) as traders await the Swiss ZEW Survey – Expectations report scheduled for later today. Moreover, investors are keeping...
In the early hours of Tuesday, the US Dollar faces challenges in maintaining its strength against major currencies, with the US Dollar Index struggling to surpass the 104.00 mark. Investors are eagerly anticipating the release of key economic data, including January Durable Goods Orders and the Conference Board's Consumer Confidence Index for February. Additionally, the economic calendar includes reports...