Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
The Earnings Season in the US. The First Results
Hello, guys! Welcome to Thursday! Here is the most interesting news for today.
The Earning Season in the US
The US earnings season is on its way.
Tesla reported revenue of 24.93B. The market expected revenue at 24.29B. EPS grew to 91 cents vs. 78.82 cents in the forecast. The reaction of the stock price was positive at first, but then during a day Tesla’s capitalization fell by 0.7%.
Netflix revenue was released worse than the forecast – $8.19B vs. $8.27B. On the pre-market the stock price is being traded at 442.60 – a drawdown of 7.2%
IBM’s revenue was published almost at the expectancy level of $15.5B vs. $15.58B. EPS grew to $2.18.
Goldman Sachs (the Firm) reported revenue growth of $10.9B. EPS fell to $3.08. On the per-market the price fell to $338.76.
The US Statistics
The preliminary fact of the US Building Permits is showing the slowdown in the real estate market. The numbers were published at 1.440M vs. 1.490M in the forecast. Housing starts numbers for June started falling too.
The EURUSD jumped from the resistance of 1.12750. The dollar keeps strengthening. The nearest support is at 1.11850, but we may still consider this level as resistance. Stochastic lines are leaving the overbought zone and returning to the working zone. If the price breaks the 23.6% Fibo correction - we may see the movement to 1.11080 and then to 1.10900.
Other News Which is Important for The Market
Crude oil inventories from EIA were published at -0.708M. The futures price of Brent oil is fluctuating around $79.50. The 200 Moving average is heading down – the trend is still bearish.
The unemployment rate in Australia was released at 3.5%. The previous fact for May was revised, too (3.5% vs. 3.6%). The labor market is strong, giving RBA room to hold the rate high (the key rate in Australia is 4.1%).
BTCUSD still cannot overcome its 100MA. The trend is bearish. The long-term resistance is at $32500. The local trend is flat. The nearest support is $29680; the nearest resistance is $31500.
XAUUSD touched the $1985 resistance line (50% correction) and bounced back. The local trend is bullish, but the price is ready for correction – there is a strong deviation of the price from its 200MA. What do you think of this, dears? Are you bullish or bearish on Gold?
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