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Market Analysis – USD and yields rise on Fedspeak, Oil tumbles on OPEC+
USD bounced back in Thursday’s session with the US Dollar Index (DXY) recouping the weeks losses after finding some technical support at its 61.8 Fib level and an extreme oversold RSI reading. Fundamentally, some hawkish Fedspeak from voting member Daly, where she commented that it is too soon to call the end on rate hikes and the battle against ...
December 1, 2023
Read More > Kroger tops third quarter expectations
One of the largest food retailers in the United States, Kroger Co. (NYSE: KR), announced Q3 earnings results before the opening bell in Wall Street on Thursday. Company overview Founded: 1883 Headquarters: Cincinnati, Ohio, United States Number of employees: 465,000 (2022) Industry: Retail Key people: Rodney McMullen (CEO & ...
December 1, 2023
Read More > Salesforce shares rise in after-hours as earnings results top estimates
Salesforce Inc. (NYSE: CRM) reported its latest financial results after the closing bell in the US on Wednesday. World’s leading customer relationship management company topped both revenue and earnings per share estimates (EPS) for the third quarter of fiscal 2024. Company overview Founded: February 3, 1999 Headquarters: Salesforce...
November 30, 2023
Read More > FX Analysis – Euro softens on cool CPI readings, Gold rallies again, NZD surges on RBNZ
The Euro was softer In Wednesdays US session with EURUSD failing to hold above the psychological 1.10 level with cooler than expected inflation readings out of Spain and Germany weighing on the single currency. EURGBP dropped for the fifth straight session and setting new November lows. Comments from ECB member Stournaras pushing back on April ra...
November 30, 2023
Read More > FX Analysis – USD continues decline on dovish Fedspeak, JPY outperforms, AUD and NZD breakout
USD continued its recent decline on Tuesday with the US dollar index (DXY) hitting its lowest level since mid-August at 102.60 before finding some support at the 61.8 Fib level. The decline accelerated after voting Fed member Waller who is seen as a hawk, made some dovish remarks regarding rates and inflation namely he was “increasingly confide...
November 29, 2023
Read More > Intuit results announced
US business software company Intuit Inc. (NASDAQ: INTU) announced the latest financial results for first quarter of fiscal 2024 after the closing bell in the US on Tuesday. Company overview Founded: 1983 Headquarters: Mountain View, California, United States Number of employees: 18,200 (2023) Industry: Enterprise software Key pe...
November 29, 2023
Read More > PDD Holdings shares skyrocket as earnings top estimates
PDD Holdings Inc. (NASDAQ: PDD) reported Q3 financial results before the market open in the US on Tuesday. The Chinese company beat both revenue and earnings per share (EPS) estimates, sending the stock higher. Company overview Founded: 2015 Headquarters: Shanghai, China Number of employees: 12,992 (2022) Industry: Internet, Agricu...
November 29, 2023
Read More > The Week Ahead – Charts to watch EURUSD, Crude Oil, Gold
Global markets enter the new week in a risk on tone with as market participants are positioning for no more rate hikes out of the Federal Reserve and pricing in cuts from Q2 2024. In last week’s low volatility, holiday shortened week this translated to a steady rise in equities (DOW hitting 3-month highs), a steady decline in the US dollar (DXY h...
November 27, 2023
Read More > FX Analysis – EUR and GBP rally on PMIs, USDJPY tests key level.
Markets were predictably quite due to holidays in the US and Japan on Thursday. USD was marginally softer overall with DXY dropping to test the support at the 200-day MA before recovering modestly amid the holiday lull for Thanksgiving. Source:TradingView.com EURUSD managed mild gains with price action choppy around the 1.0900 level but ev...
November 24, 2023
Read More > APAC Open – Equites and USD up, Gold down, Oil takes a wild ride.
US equities continued to climb in a broad rally ahead of the Thanksgiving break I Wednesdays session with the Dow Jones index up almost 200 points and hitting its highest level since mid-August. In FX markets, the USD was bid after better than expected employment data saw Jobless claims come in at 209k vs the expected 226k, US consumer s...
November 23, 2023
Read More > Deere & Company results top estimates but the stock is falling
Deere & Company (NYSE: DE) reported the latest results for the fourth-quarter ending October 29, 2023 and full fiscal 2023 before the market opens in the US on Wednesday. The American manufacturer of farm machinery and industrial equipment beat Wall Street estimates for the fourth-quarter but fell short on future outlook expecations. Company...
November 23, 2023
Read More > FX Analysis – AUD, GBP, EUR, USD, XAUUSD
USD – The US dollar index was ultimately firmer in a choppy session where DXY hit a low of 103.18 in the APAC session only to reverse course later hitting a high of 103.71 in the US session. A sour risk environment after some misses in US retail earnings and traders getting long before the FOMC minutes seem to be the key drivers. Reaction to the ...
November 22, 2023
Read More > NVIDIA exceeds expectations
One of the most anticipated earnings releases in the calendar is here. NVIDIA Corporation (NASDAQ: NVDA) announced the latest results after the closing bell on Tuesday. Let’s see how one of the companies from the ''trillion club'' performed. Company overview Founded: 5/4/1993 Headquarters: Santa Clara, California, United States Numb...
November 22, 2023
Read More > Zoom tops estimates and raises full-year forecast
Zoom Video Communications Inc. (NASDAQ: ZM) released its latest financial results for the third fiscal quarter after the market closed in the US on Monday. Company overview Founded: April 21, 2011 Headquarters: San Jose, California, United States Number of employees: 8,484 (January 2023) Industry: Tech Key people: Eric Yuan (Cha...
November 21, 2023
Read More > Tech leads US equity rally, USD and yields fall again, AUDUSD breaks out, USDJPY breaks down
US equities enjoyed a broad rally, with tech leading after news that recently ousted OpenAI CEO Sam Altman had been snapped up by Microsoft, the news helped MSFT and AI Chip maker NVDA stock rally over 2% each and pushing the Nasdaq to be the top performing US index. More weak data out of the US as well with leading indicators missing expect...
November 21, 2023
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