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?
The Most Important News For Today
Thursday is on its way. We have several news for you to discuss
AI problem
Elon Musk, Stewe Wozniak, Emad Mostaque, and other experts signed a letter to pause AI. They say that AI should be developed "once we are confident that their effects will be positive and their risks will be manageable." Skynet is close, guys
Meanwhile, one of the GPT’s developers Siqi Chen: ‘i have been told that gpt5 is scheduled to complete training this december and that openai expects it to achieve agi.’
And several companies if you want to invest in AI technologies: Microsoft, Adobe, Alphabet, Amazon, Meta, Snap, Pinterest, and Digital reality.
Economic calendar
Pending home sales in the US beat the forecast. +0.8% in February (economists expected -2.3%).
Crude oil inventories decreased significantly in the US. -7.489M against 0.092M in the forecast. XBRUSD tries to rise, but it’s tough for bulls to break the 50% correction level ($78.25).
US500 grew during the American trading session yesterday. Almost all stock sectors are green. Nvidia stocks are growing three weeks in a row and even three months in a row. That’s what the reversal head and shoulders pattern do. The resistance level for the price is pretty close – 275.50.
Inflation in Germany is released today at 15:00 GMT+3. During the last few quarters, inflation has remained stable – higher than 8%. Now economists think that it will drop to the 7.3% level.
Instantly after the German CPI release, we will see the US GDP for the 4th quarter and Initial Jobless Claims. GDP will be better than expected (+2.7%). All eyes are on EURUSD, guys. Volatility will be high.
Bitcoin and Gold
Bitcoin is trying to break the 29000 level. The bulls may succeed, but the risks for correction are high. Be careful, dears.
Gold is in flat. The support level is still 1960. The resistance began around 1975. 200MA is moving down, so the local trend is still more bearish.
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