Articles

Trade from an informed place. We cover news, political events and market analysis plus product updates.

Articles

Trade from an informed place. We cover news, political events and market analysis plus product updates.

NVDA earnings preview – AI mania put to the test

The most anticipated US earnings announcement is coming up with NVDA due to report fiscal Quarter ending Jan 2024 earnings after the Wednesday US market close. NVDA has seen a meteoric rise, quintupling in 2023 and up more than 40% so far in 2024, being the number one stock riding AI mania, making this earnings report one that all investors will be...

February 21, 2024
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FX analysis – USD drops ahead of FOMC minutes, CAD falls on cool CPI, AUD and NZD supported by PBoC decision

USD sold off in Tuesdays session after US traders returned from holiday. DXY falling for a 5th straight session after finding stiff resistance at the psychological 105 level and breaking below its 100 DMA before finding some support at the 200 DMA before retracing somewhat as market risk sentiment soured during the US equity session. Lower yields a...

February 21, 2024
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Walmart stock gains after better-than-expected earnings report

Walmart Inc. (NYSE: WMT) announced the latest financial results before the US market open on Tuesday. World’s largest supermarket chain achieved revenue of $173.388 billion in the fourth quarter vs. $170.854 billion expected. Revenue grew by 5.7% year-over-year. Earnings per share (EPS) reported at $1.80 (up from $1.71 the year prior) vs. $...

February 21, 2024
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Home Depot earnings results announced

US home improvement chain Home Depot Inc. (NYSE: HD) reported Q4 financial results before the opening bell on Wall Street on Tuesday. The company reported revenue of $34.786 billion for the quarter (down by 2.9% year-over-year) vs. $34.643 billion expected. Earnings per share also topped analyst estimates at $2.82 (down by 14.54% year-over-ye...

February 21, 2024
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FX analysis – AUDUSD at key resistance ahead of RBA minutes and wage data

With the US closed for a holiday FX markets on Monday struggled to find much direction though China re-opening in the green after an extended leave did lend some support to the Aussie dollar ahead of todays RBA minutes. The February 6th RBA meeting saw a statement that had a bit of both ways, acknowledging broad progress on the inflation front but ...

February 20, 2024
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Vulcan Materials closes at a new all-time high after earnings

US manufacturer of building materials Vulcan Materials Company (NYSE: VMC) announced its latest financial results on Friday. Vulcan Materials reported revenue that fell short of analyst estimates. Revenue reached $1.834 billion for Q4 2023 (up by 5.88% year-over-year) vs. $1.837 billion expected. Earnings per share (EPS) topped expectations a...

February 19, 2024
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Deere & Company beats estimates – the stock is falling

US machine manufacturer Deere & Company (NYSE: DE) announced the latest financial results before the opening bell on Thursday. Deere achieved revenue of $10.486 billion for the three months ending 28/1/24, beating analyst estimate of $10.303 billion. Revenue was down by 8% vs. the same period year prior. Earnings per share (EPS) reported ...

February 16, 2024
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FX Analysis – USD dips , GBP falls on cool CPI, JPY jawboning , EUR up on data

USD dipped in Wednesday’s session after the CPI inspired surge on Tuesday. The US dollar index (DXY) hitting resistance at the 105 level and dropping to a low of 104.65. Reports of Fed Chair Powell downplaying Tuesday's hotter than expected CPI along with the Fed's Goolsbee stating US inflation is still consistent with the Fed's path back to targ...

February 15, 2024
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Cisco tops Wall Street estimates

Cisco Systems Inc. (NASDAQ: CSCO) released the latest earnings results for fiscal Q2 of 2024 after market close in the US on Wednesday. The US telecommunications company achieved revenue of $12.8 billion for the quarter vs. $12.706 billion. Revenue was down by 6% vs. the same period the year prior. Earnings per share (EPS) reached $0.87, abov...

February 15, 2024
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Barrick Gold beats Q4 expectations

Canadian mining company Barrick Gold Corporation (NYSE: GOLD) reported Q4 2023 financial results before the US market opened on Wednesday. The world's second-largest gold miner achieved revenue of $3.126 billion for Q4 2023, up from $2.943 billion in Q3 2023 vs. $3.128 billion expected. Earnings per share reported at $0.276, exceeding analyst...

February 15, 2024
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Coca-Cola earnings announced

American beverage giant The Coca-Cola Company (NYSE: KO) reported the latest financial results before the opening bell on Wall Street on Tuesday. Coca-Cola reported revenue of $10.948 billion (up by 7% year-over-year) for the last three months of 2023 vs. $10.675 billion expected. Earnings per share reached $0.49 (up by 10% year-over-year) vs...

February 14, 2024
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FX Analysis – USDJPY holds key level, AUDNZD has best day of year, USD quiet ahead of CPI

USD Dollar saw mild strength in Monday’s session, DXY trading either side of the psychological 104.00 level but again being capped to the upside by the 100-day SMA resistance. The was little in the way of a catalyst with no tier one data released, that will change today with US CPI figures released, which will help market participants and the Fed...

February 13, 2024
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Arista Networks Q4 2023 and full year results announced

It’s set to be another busy week of US earnings with The Coca-Cola Company, Shopify Inc., Airbnb Inc., Deere & Company and more expected to announce the latest earnings results. First up, US computer networking company Arista Networks Inc. (NYSE: ANET) released the latest results after the closing bell on Monday. The company achieved re...

February 13, 2024
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The Week Ahead – US CPI, Aussie employment and the charts to watch

With FX markets being pushed and pulled by market participants betting on when the major central banks are going to start cutting rates (or not) FX traders have some important risk events that will influence those expectations to negotiate this week. CPI and retail sales headline in the US, Aussie traders have the January Jobs report and for Sterli...

February 12, 2024
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PepsiCo falls short on revenue – the stock is down

On Friday, US beverage and food company PepsiCo Inc. (NASDAQ: PEP) announced the latest financial results before the market opened. The New York based company reported revenue of $27.85 billion for Q4 2023, falling short of Wall Street analyst estimate of $28.4 billion. Revenue was down from $27.996 billion from the same period in 2022. Earni...

February 12, 2024
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