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.
GBP/USD: the question of 1.33
2020-08-28 • Updated
GBP/USD rose to the critical level of 1.33. It is critical because it is a strategic resistance opening the door into the channel of 1.33-1.34. This channel has been capping the upside of GBP/USD for the last 2 years. Since Summer 2018, the British pound has never been able to step over this mark against the US dollar. Now, it is the challenge time – again.
What is the likelihood of GBP/USD to get up beyond this resistance? It entirely depends on the USD here: the GBP taken alone is weak enough, being pressed by Brexit and likely to stay under this press until the end of the year when the outcomes of Brexit are clear. That’s why, the fact that GBP/USD went up is almost 100% a result of the weakness of the USD. That’s why, whether GBP/USD will cross this 2-year resistance gets answered by “Will the USD get even weaker?”. The latter is still to be confirmed but the probability is definitely there, given the recently announced Fed policy and the coming US Presidential elections. So watch this key resistance and make sure you have a plan if GBP/USD crosses it on the way upwards.
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.
Welcome to October, the tenth month of 2023. For this installment of What to Trade, I have handpicked a few of my favorite trade ideas for the month. Let’s go over a few of them.
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.