The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
Google will release earnings on April 28
This week and the next one the world’s top companies will report their first quarter earnings. Will the leading firms remain leading under the coronavirus pressure? Let’s start with Google.
Advertising generates roughly 70% of the Google’s total revenue. And these days many companies have stopped advertising their products and services, as they lost their customers amid the coronavirus spread and they can’t afford it anymore, especially travel and hospitality industries. Paid clicks make nearly 20% of the Google’s revenue. Looking at the proportions, even higher volumes of users could hardly offset the drop of the advertising revenue. This might be a signal for an upcoming way down. Anyway, we will see its performance in its earnings report on April 28 at 23.30 MT time.
Let’s look at the chart below to know where is the Google stock now. It declined by 500 dollars from February 20 to March 23. Then it reversed and now its price is 1268 dollars. That is near 50% Fibonacci retracement level. Resistance line is 1333. Support line is 1211.
Check the economic calendar and catch the market momentum right on time!
The upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
The market sentiment is risk-off. Stocks are falling, while the safe-haven US dollar is edging higher. Meanwhile, oil advanced after the OPEC meeting.
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).