US stocks are seen edging higher Thursday, continuing the recent strong rally after Fed chief Jerome Powell reaffirmed that the central bank’s monetary policy will remain supportive for some time yet.
Daily Market Analysis
Investors see gold as a way to hedge against this volatility due to its stability.
Asia-Pac lacked firm direction as risk appetite was sapped by holiday closures for many key markets in the region and following an uninspired handover from the US.
The level of 23.6% Fibonacci retracement at 1.3795 is in the focus on the H4. The next level to watch on the downside is 1.3755.
World shares rose to new all-time highs overnight and European indexes strengthened, with market sentiment generally upbeat on the prospect of fiscal stimulus and vaccine rollouts and ahead of a speech by U.S. Federal Reserve Chair Jerome Powell.
This Thursday Disney reports its earnings at 23:30 MT time (GMT+2). Analysts are expecting $15.89 billion in sales and -$0.33 loss per share.
The US dollar has seen some heavy fluctuation recently. Although it gained some strength here and there, mostly, it has been going weak against its main peers in the Forex market. Let's check it out.
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
Will PepsiCo's earnings report push the stock price? See it on Thursday!
Jump in to get the technical analysis of EUR/GBP, GBP/USD, and gold!
The global recovery increased the demand for crude oil and dragged the price to the pre-crisis levels.
Western Union reports its earnings on Wednesday, at 23:30 MT time - will it beat the expected EPS of $0.42?