Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Dollar keeps slightly softer as risk on returns
2020-10-28 • Updated
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAU/USD: Gold moves below 38.2% retracement level. It seems that silver minimized earlier losses and is ready to move higher.
EU Market View
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month. US congressional committees have reportedly made some progress, but not enough to make a stimulus deal anywhere near imminent, according to sources. Looking ahead, highlights from the macroeconomic calendar include US Durable Goods, Consumer Confidence, BoE’s Haldane, ECB’s Centeno speech.
EU Key Point
- RBA's Bullock supports that the financial system is in a good position to support the economy
- China says will take necessary measures to uphold its security interests, following US arms sale to Taiwan
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.