
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
2021-01-19 • Updated
This Thursday, at 22:00 MT time, IBM reports Q4’2020 performance. What is there to expect?
The average consensus for the expected Q4 earnings is $1.77 per share (62.4% less than a year ago) while the sales prognosis stands at $20.51 bln (5.8% less than in 2020).
The last quarter of a year is traditionally a strong season for IBM. Therefore, it’s supposed to have made pretty good sales, marked down on the virus hit, of course. On top of that, the company made certain acquisitions and announced promising spin-offs (NewCo) that are seen as solid steps to strengthen its strategic position.
While IBM is definitely a titan of the US stock market that spearheads the IT industry, it’s been constantly struggling to bring consistent revenue growth during the last years. The latter is one of the primary concerns for investors – hence, the large downtrend. The current level is right at the upper side of the trend. Therefore, it is but logical to expect a high probability of a bounce off and a downward reversal.
$134 is expected to be the target for bulls if the report on January 21 beats market expectations. While the stock price may go even further above in this scenario, it is still believed to be likely to go downwards in the long-term. That is, unless IBM changes its financial performance, revenue generation dynamics, and, thus, investor impression about it.
$121 may be a likely bearish target is IBM underperforms. In the context of the large downtrend it’s been in, dropping to this support level may be more a question of time rather than a possibility.
Therefore, it is more advisable to take a bearish position in the mid-term and long-term with the IBM stock. Otherwise, in the short-term, bulls may deliver a surprise blow to the market and take the stock price to the upside only in case the figures on Thursday are better than though.
Now, just in case you prefer listening to reading, here is your video guide to trade IBM. Enjoy!
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As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
On January 12, the Bureau of Statistics will publish the Consumer Price Index (CPI) figures, a key index for determining interest rates. While we await the release, experts forecast a decline in the CPI data, a hint at weaker Dollar values in the global markets.
Later today Tiff Macklem, the governor of the BoC (Bank of Canada) is expected to speak at the Riksbank's International Symposium as part of a discussion panel on 'Central Bank Independence'.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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