Earnings Season is In Focus
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
GBP Awaits BOE Rate Decision and Apple's Sales Disaster
Welcome to Thursday, dear friends! Let’s review the main market trends for today.
- The US stock market slid heavily on Wednesday after Fitch downgraded the US credit rating from AAA to AA+. The Dow Jones Industrial Average index fell 0.54%, while Nasdaq dropped by 1.74%.
- The Bank of England is holding a meeting today at 14:00 GMT+3. Analysts widely expect the regulator to raise the interest rate by 25 basis points. At the same time, the markets will be looking at the indications of the end of the rate hiking cycle, as UK CPI reached 7.9%, easing off 8.7% in May.
- The Bank of Japan intervened with the bond-buying for the second time second time this week, to slow gain in benchmark sovereign bond yields.
- Today, Apple is expected to deliver the largest third-quarter revenue drop since 2016 amid the slowdown in iPhone sales. Wait for the release of the earnings report today after the market closes.
- Turkish CPI rose by 9.49% in July. The previous release was at +3.9%.
Technical analysis of GBPUSD
The pair broke below the lower border of the trading channel. If the BOE surprises with monetary policy changes, we may either see a strike to the upside with the resistance at 1.2728. On the downside, the support is located at 1.2600.
Similar
Can XAUUSD Move Higher?
The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!
Chinese Economy Has Bounced Off the Bottom
Chinese investors are selling the UST. Meanwhile, the earning season continues. What's going on in the markets?
Latest news
The Yen Sets New Lows
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
Experts are Waiting for US Stocks to Rise
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO Supports The USD
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
