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Articles
FX Analysis – AUD, NZD drop on China data ,USD up, JPY underperforms, EUR whipsaws
USD saw gains on Thursday with the US Dollar index (DXY) pushing above 104 before again finding resistance at the 100-day SMA. A rise in UST yields after a better than expected jobless claims figures. In data ahead Dollar traders will be focussing on the US CPI revisions. EUR was mostly flat vs the Dollar with EURUSD trading down to 1.0750 b...
February 9, 2024Read More >Philip Morris falls short in Q4 – the stock is down
US tobacco and cigarette company Philip Morris International Inc. (NYSE: PM) released the latest financial results for Q4 and 2023 full year before opening bell in the US on Thursday. The company reported revenue of $9 billion for the quarter, which was just shy of $9.008 billion expected. Earnings per share (EPS) fell short of analyst estima...
February 9, 2024Read More >Uber Q4 and full year results are here
Uber Technologies Inc. (NYSE: UBER) announced the latest financial results on Wednesday. The US ride-hailing company beat both revenue and earnings per share (EPS) estimates for the last 3 months of 2023. Revenue reached $9.936 billion for the quarter (up from $8.607 billion in Q4 2022) vs. $9.756 billion expected. EPS was reported at $0.6...
February 8, 2024Read More >Alibaba stock dips after earnings
Chinese e-commerce giant, Alibaba Group Holding Ltd. (NYSE: BABA), released Q4 2023 earnings results before the US market open on Wednesday. The company achieved revenue of $36.67 billion, which was pretty much in line with analyst estimates. Revenue grew by 5% year-over-year. Earnings per share was reported at $2.672 (down by 2% year-over-ye...
February 8, 2024Read More >FX Analysis – USD drifts lower, AUD outperforms after RBA, Gold and JPY push higher
USD drifted lower in Tuesday’s session, the US dollar index retracing a good chunk of Mondays gains. Regional bank fears were at the fore, with NYCB continuing its steep decline in an otherwise quiet session news wise. This saw the haven of bonds bid, sending yields lower and dragging the USD down with them. DXY dipping back below its 100 Day SMA...
February 7, 2024Read More >Ford Q4 2023 results arrive above estimates – the stock is rising
Ford Motor Company (NYSE: F) released the latest financial results for Q4 of last year after the market closed on Tuesday. World’s 11th largest automaker did not disappoint investors and topped both revenue and earnings per share estimates (EPS). The company achieved revenue of $46 billion in the last 3 months of 2023 vs. $43.062 billion ex...
February 7, 2024Read More >Eli Lilly tops Wall Street expectations
Eli Lilly and Company (NYSE: LLY) posted Q4 2023 earnings results before the opening bell on Wall Street on Tuesday. The largest pharmaceutical company in the world reported revenue of $9.353 billion (up by 28% year-over-year) vs. $8.946 billion. Earnings per share (EPS) also topped estimates at $2.49 vs. $2.296 per share. EPS grew by 19% vs....
February 7, 2024Read More >FX analysis – AUD dips ahead of RBA, USD follows yields higher on Hawkish Powell, Gold hits 1-week lows
USD was bid in Mondays session with the US Dollar Index following US treasury yields higher after hawkish comments from Fed Chair Powell over the weekend where he pushed back on market pricing of rate cuts starting in March. A beat in the ISM Services PMI data also supporting DXY as rate cut odds in March dropped down to around 17% from the 35% cha...
February 6, 2024Read More >Caterpillar stock gains after earnings
US manufacturer of construction and mining equipment, Caterpillar Inc. (NYSE: CAT), reported the latest financial results on Monday. CAT achieved revenue of $17.07 billion for the three months ending 31/12/23 (an increase of 3% year-over-year), which beat analyst estimate of $17.057 billion. Earnings per share (EPS) was reported at $5.23 (an ...
February 6, 2024Read More >McDonald’s falls short on revenue for the first time since 2022
The US earnings season continues. To kick things off this week, McDonald’s Corporation (NYSE: MCD), released Q4 2023 and full year results before the opening bell on Monday. World’s largest restaurant chain reported revenue that fell short of Wall Street expectations for the first time since Q2 2022 at $6.406 billion vs. $6.448 billion expec...
February 6, 2024Read More >Exxon Mobil tops earnings estimates but falls short on revenue
World’s second largest oil & gas company, Exxon Mobil Corporation (NYSE: XOM), announced results for the previous quarter before the market opened on Friday. Exxon Mobil stated that the revenue reached $84.344 billion for the quarter, which was below analyst estimate of $90.032 billion. Earnings per share was reported at $2.48 vs. $2.19...
February 5, 2024Read More >NIO January deliveries announced
Chinese electric vehicle company, NIO Inc. (NYSE: NIO), hasn’t had the best start to 2024 with the stock plummeting by 37.05% year-to-date. That’s despite the company signing battery-swap agreements with other Chinese automakers, including, Changan Automobile, Geely Group, JAC Group and Chery Automobile. Back in the December, NIO also ann...
February 2, 2024Read More >Meta Platforms smashes Wall Street estimates – the stock is flying in the after-hours
One of the most anticipated earnings calls of the week is here. Mark Zuckerberg’s, Meta Platforms Inc. (NYSE:META), announced the latest results from Q4 2023 after the market closed on Thursday. The company did not disappoint investors and topped both revenue and earnings per share (EPS) estimates, sending the stock higher. Meta achieved re...
February 2, 2024Read More >Earnings preview – Apple, Meta, Amazon
Big tech earnings continue this week with three more of the Magnificent seven in Amazon, Meta and Apple due to report Q4 earnings after the US close on Thursday. So far, we’ve had mixed results from the first three Mag 7 tech stocks, none of them impressed stockholders much, with Tesla, Microsoft and Alphabet all down post earnings to varying ...
February 1, 2024Read More >FX analysis – USD pops on FOMC, Cool CPI hits AUD, Yields support JPY
USD started the session weaker with the US dollar index (DXY) hitting a low of 102.94, as it was weighed on by dovish economic data, with misses in ADP employment and Employment Cost Index. This turned around dramatically after what was seen as a hawkish result out of the FOMC where the Fed left rates unchanged as expected but pushed back on the ma...
February 1, 2024Read More >
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