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.
USD/JPY trades to a new session low
2020-10-28 • Updated
Ichimoku Kinko Hyo
CAD/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: Gold moves below the 23.6% retracement level. It seems that silver has the potentials to move higher from this stage.
US Market View
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday. Hopes for a stimulus package for the U.S. economy in the near term all but died as Majority Leader Mitch McConnell adjourned the Senate until November 9. Senate Republicans have been the major stumbling block to a deal in recent days, refusing to go along with President Trump’s calls for a bigger package. Two of Europe’s largest banks posted stronger-than-expected results, putting pressure on the continent’s regulators to lift their current bans on dividend payments.
US Key Point
- US dollar slump quickly halted
- EURUSD trades between 100- and 200-hour moving averages
- US Sept prelim durable goods orders come at +1.9% vs +0.5% than expected
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.
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