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Articles
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, 2023Read 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, 2023Read 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, 2023Read 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, 2023Read 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, 2023Read More >FX Analysis – Falling Yields Pressure USD, the Key Levels to Watch.
Recent US figures have seen a rout in treasury yields with the flagship 10-year now yielding 4.435% after starting November at 16-year highs north of 5% and in a seemingly unstoppable uptrend. A cooler CPI and PPI showing inflation is decelerating at a faster pace than the market anticipated, along with weaker employment and industrial production f...
November 17, 2023Read More >Walmart earnings results announced
The world’s largest supermarket chain Walmart Inc. (NYSE: WMT) released third quarter earnings results before the market opened in the US on Thursday. Walmart beat Wall Street estimates for both revenue and earnings per share (EPS). Company overview Founded: July 2, 1962 Headquarters: Bentonville, Arkansas, United States Number of e...
November 17, 2023Read More >Australian Employment Beats Expectation – AUDUSD Reaction and Analysis.
Australian employment change for October was released today and showed a decent beat of +55k jobs added vs an expected 22.8k while the unemployment rate ticked up to 3.7% in line with expectation. AUDUSD reaction was muted, with markets still convinced that we have seen the peak in the RBA rate cycle with futures barely moving the needle on rate...
November 16, 2023Read More >Target tops estimates – the stock is soaring
Target Corporation (NYSE: TGT) released Q3 financial results before the market open in the US on Wednesday. The US retail giant beat both revenue and earnings per share (EPS) estimates for the previous quarter, sending the stock higher. Company overview Founded: June 24, 1902 Headquarters: Target Plaza Minneapolis, Minnesota, United S...
November 16, 2023Read More >Home Depot shares rise after earnings
Home Depot Inc. (NYSE: HD) released its latest financial results before the opening bell in the US on Tuesday, beating analyst estimates for the third quarter. Company overview Founded: February 6, 1978 Headquarters: Atlanta, Georgia, United States Number of employees: 471,600 (2023) Industry: Retail Key people: Ted Decker (Pres...
November 15, 2023Read More >FX Analysis – AUDUSD and Gold get a boost, JPY spikes on possible intervention.
AUDUSD AUD saw gains to come within a whisker of the key 0.64 level, after hawkish leaning commentary from RBA Assistant Governor Kohler, who noted the decline in inflation is more gradual than previously thought. The Aussie also helped by a weaker USD and improved risk sentiment. The 0.64 level will be key in the near term as the mid-point of A...
November 14, 2023Read More >Charts to watch in the week ahead – AUDUSD, USDOLLAR, GBPUSD
Last week’s action in the FX markets was shaped by a pushback by the Fed chair Jerome Powell and assorted other Fed members on markets pricing in a less hawkish Fed going forward. What was seen as a dovish FOMC and a big miss in NFP the week before saw traders piling back into risk assets with traders hoping for a less aggressive Fed, it seemed p...
November 13, 2023Read More >FX Analysis – USDJPY, and GOLD reaction after a surge in the Dollar
USD rallied strongly in Thursday’s session after a quiet start following dismal demand for US 30 year-treasuries at a scheduled bond auction, seeing yields surge and taking the USD with them. The push higher was later given an extra boost by Fed Chair Powell’s hawkish statements during a panel organized by the IMF. In a scheduled panel chat ...
November 10, 2023Read More >Global market recap: Asian-Pacific futures edge up after Wall Street’s decline.
The Asian-Pacific financial markets are bracing for a potentially modest opening on Friday, undeterred by the negative performance witnessed in US indices the previous night. This downturn was spurred by remarks from Federal Reserve Chief Jerome Powell, who suggested that existing interest rates might not be restrictive enough. Powell's comments tr...
November 10, 2023Read More >Li Auto beats Q3 expectations
Li Auto Inc. (NASDAQ: LI) released Q3 results before the market open in the US on Thursday. Let’s take a look at how the Chinese company performed. Company overview Founded: 2015 Headquarters: Beijing, China Number of employees: 19,396 (2022) Industry: Automotive Key people: Li Xiang (Chairman and CEO), Yanan Shen (President),...
November 10, 2023Read More >
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