市場新聞與洞察

The EURJPY has been trading under the 142.70 resistance area since the end of December 2022. With the price failing to break through over several occasions, the recent weakness in the Japanese Yen has seen the EURJPY trade beyond the resistance level, signaling the potential for a significant move to the upside. The recent weakness in the Japanese Yen comes not only because of the strength of the DXY but from the announcement of Kazuo Ueda as the next Bank of Japan (BoJ) Governor.

Kazuo Ueda stated that the BoJ’s current monetary policy is appropriate and that should continue. A sustained move to the upside would not only be dependent on the weakness of the Japanese Yen. A recovery in the strength of the Euro could provide the additional push, to drive the EURJPY higher.

ECB President Lagarde has continued to maintain her hawkish view by commenting that she intends to raise rates by 50bps at the next ECB meeting in March. Looking at the technical analysis, the EURJPY is likely to retrace briefly down to the 23.6% Fibonacci retracement level, which coincides with the resistance turned support level, before trading higher toward the key resistance at 145.60, formed by the previous swing high level. However, if the EURJPY trades significantly lower, past the previous swing low and the 50% Fibonacci retracement level, this breakout potential could be invalidated.

Barrick Gold Corporation (NYSE:GOLD) released the latest financial results for Q4 2022 on Wednesday. The Canadian mining company beat both revenue and earnings per share (EPS) for a second consecutive quarter. Barrick Gold reported revenue of $2.726 billion for the quarter vs. $2.674 billion expected.

EPS reported at $0.128 per share vs. $0.111 EPS estimate. The company also announced a dividend of $0.10 per share for Q4 2022. ''Our continued success in not only replenishing but also unlocking significant value in our asset base shows the unmatched potential of our organic growth pipeline,'' CEO of Barrick, Mark Bristow said in a press release. ''A stronger Q4 operational performance, notably from Cortez and Carlin in Nevada, Pueblo Viejo in the Dominican Republic and Tongon in Côte d’Ivoire, contributed to annual gold production of more than 4.1 million ounces in a year impacted by infrastructural issues at Turquoise Ridge in Nevada and the replacement of the rock winder at Kibali in the Democratic Republic of Congo. Copper production from Lumwana in Zambia and Jabal Sayid in Saudi Arabia was well within guidance.'' The company also announced another share buyback program: ''Barrick returned a record $1.6 billion to shareholders in 2022 through dividends and share buybacks and has announced a further share buyback program of up to $1 billion for the next twelve months.'' Stock reaction The stock was down by around 3% at the open in the US at $17.22 as share.

Stock performance 1 month: -3.10% 3 months: +12.79% Year-to-date: +3.67% 1 year: -19.88% Barrick Gold stock price targets BNP Paribas: $19 Barclays: $26 RBC Capital: $20 Goldman Sachs: $18 BMO Capital: $28 Barrick Gold is the 572 nd largest company in the world with a market cap of $31.38 billion. You can trade Barrick Gold Corporation (NYSE:GOLD) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: Barrick Gold Corporation, TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap

Airbnb Inc. (NASDAQ:ABNB) announced Q4 2022 and 2022 full year financial results after the market close in the US on Tuesday. World’s second largest travel company reported revenue of $1.902 billion (up by 24% year-over-year), beating analyst estimate of $1.861 billion. The revenue reported was the highest for a Q4 in Airbnb’s history.

Earnings per share also topped analyst estimate at $0.48 per share vs. $0.256 earnings per share expected. Revenue in 2022 reported at $8.4 billion, up by 40% vs. 2021. CEO commentary ''2022 was another incredible year for Airbnb.

We made almost 100 upgrades to our core service, saw record guest demand, and ended the year with our highest-ever number of active listings globally,'' co-founder and CEO, Brian Chesky said in a press release. Stock reaction Shares of Airbnb closed at $120.49 a share on Tuesday, up by 3.28%. The stock rose by around 9% in the after-hours as Q4 results came in above estimates.

Stock performance 1 month: +19.35% 3 months: +12.95% Year-to-date: +41.37% 1 year: -32.88% Airbnb stock price targets B of A Securities: $130 Barclays: $105 UBS: $114 Wells Fargo: $130 Goldman Sachs: $87 Mizuho: $110 Morgan Stanley: $80 Baird: $100 Airbnb is the 188 th largest company in the world with a market cap of $76.53 billion. You can trade Airbnb Inc. (NASDAQ:ABNB) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: Airbnb Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap

Uber Technologies Inc. (NYSE:UBER) announced Q4 2022 financial results before the market open on Wall Street on Wednesday. The US company posted better-than-expected results for the quarter, beating both revenue and earnings per share (EPS) forecasts. Uber reported revenue of $8.607 billion (up by 47% year-over-year or 59% in constant currency) vs. $8.513 billion estimate.

EPS reported at $0.29 per share for the quarter. Analysts were expecting a loss per share of -$0.154. It’s the first time since Q4 2021 that the company has reported higher-than-expected EPS.

CEO and CFO commentary ''We ended 2022 with our strongest quarter ever, with robust demand and record margins,'' Dara Khosrowshahi, CEO of Uber. ''Our global scale and unique platform advantages position us well to accelerate this momentum into 2023.'' "In 2022, we significantly exceeded our profitability outlook, with an incremental margin of 10%,'' Nelson Chai, CFO of the company added. ''Our outlook for a Gross Bookings and Adjusted EBITDA step up in Q1 builds on that progress, and sets us up for yet another record year." Stock reaction Share price of Uber rose by around 2% on Wednesday and was trading at around $35.91 a share – the highest level since April 2022. Stock performance 1 month: +26.77% 3 months: +35.37% Year-to-date: +45.33% 1 year: -10.57% Uber stock price targets Wedbush: $38 Needham: $54 Wolfe Research: $42 Wells Fargo: $46 Piper Sandler: $33 Truist Securities: $60 Cowen & Co.: $70 Morgan Stanley: $54 Mizuho: $46 UBS: $36 Barclays: $54 Uber is the 204 th largest company in the world with a market cap of $71.61 billion. You can trade Uber Technologies Inc. (NYSE:UBER) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: Uber Technologies Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap

US indices were down today as Jerome Powell indicated that the Federal Reserve is going to increase interest rates at a higher and faster rate than currently in place. US equities dropped after Powell’s speech. Ultimately the major indices ended relatively flat by the close of trading.

The Nasdaq closed down 0.40% after taking a breather from its recent buying momentum. The Dow Jones was dragged down by Boeing after a 737-plane crash in the mountainous Guangxi region in China. The Boeing share price saw a 5.74% drop on the opening before recovering a little to close the day down by 3.60%.

The S&P500 was also choppy as it reacted the Jerome Powell’s speech but finished flat. The FTSE 100 showed gains as an uplift in commodities supported the index with oil spiking. This provided strength for the UK’s biggest oil companies BP and Shell with both rising by 3%.

The FTSE ended the day up 0.51% whilst the DAX was down 0.60%. Commodities Brent Crude Oil made a powerful move overnight rising 7.91% to 116.33 USD. This came as European Union officials debated whether to place sanctions on Russia's lucrative energy sector to pressure the country over its invasion of Ukraine.

An embargo on Russian oil similar to what the USA and the UK have done may have drastic implications for the EU in which 40% of its gas is imported from Russia. Natural gas prices also continue to remain in the upper end of their recent price range. Gold remains near its recent support levels ending the day at 1929 USD per ounce.

Cryptocurrency Bitcoin had a choppy day as BTC/USD ended flat overall. Ethereum was the better performer closing the day with a 1.87% rise. The ETH/USD continues to hold just below the $3000 resistance level.

FOREX The EUR/USD continued to be rejected at the $1.08 level after the speech from the Federal Reserve spurred USD strength. The AUD/USD has not been able to break through its recent highs of $0.74 as it proved a flat day for the pair after the previous day’s strong moves. The USD has continued its strong move against the JPY as it climbed another 0.27%.

The JPY has continued to struggle against most other currencies. The GBP/JPY has closed in on its recent area of support 157.00-158.00 JPY as seen below as it looks to potentially break out.

The stronger-than-expected US non-farm employment change data release last week saw the DXY climb strongly higher, beyond the 103 price level. With markets now anticipating that the US Federal Reserve could reinforce its hawkish stance, further upside is expected for the DXY. On the other hand, uncertainty rises over the Bank of Japan’s (BoJ) monetary policy stance following the surfacing of rumors that Masayoshi Amamiya was approached to succeed the current BoJ Governor, Haruhiko Kuroda.

The appointment of Amamiya as governor could likely see the BoJ continue with its ultra-easy monetary policy, ultimately leading to further weakness for the Japanese Yen. Technical Overview The recent change in sentiment of the DXY has led the USDJPY to pause on the previous downtrend, finding support at the 127.00 price area. The current retracement of price to the upside has seen the USDJPY break above the bearish trendline formed in November last year.

If this upward momentum continues and the USDJPY breaks above the 133.50 price level, which coincides with the 23.60 Fibonacci retracement level, this could signal confirmation for a bullish correction. The USDJPY could continue to trade higher, with the bullish momentum supported by the divergence in the Moving Average Convergence & Divergence (MACD), toward the target price level of 142.50 price level, formed by the 61.80% Fibonacci retracement level and previous swing high from November 2022.