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.
Stimulus hopes remain to keep markets strong
2020-10-12 • Updated
Ichimoku Kinko Hyo
EUR/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.
XAG/USD: Silver stands above 23.6% retracement area and signs a strong bullish trend.
EU Market View
US House Speaker Pelosi said we remain at an impasse in COVID-19 aid talks; Trump admin has called on Congress to pass a stripped-down version of the relief bill.
Looking ahead, highlights from the macroeconomic calendar include ECB’s Lagarde, de Guindos, Schnabel, Panetta, BoE’s Bailey, Haskel and US Columbus Day Holiday. EU leaders are to insist on tough enforcement for any UK trade deal; UK PM Johnson said Britain is committed to exploring every avenue to reach an agreement
EU Key Point
- European equities open slightly higher to start the day
- Germany September wholesale price index comes at 0.0% vs -0.4% m/m prior
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