A new week will be interesting as we await Central Banks Meetings, more earnings reports, and NFP. Let's review the main headlines for this Monday as we prepare for volatile days ahead!
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!
Bloomberg says yesterday’s movement was so far the wildest. It was the first time in history for the US500 to crash by 2% and close the day 2.8% above the neutral line. There’re several possible reasons for the move.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.