Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
Post Fed Movements and Meta's Rise
Yesterday, traders followed the FOMC Meeting, where the Fed raised the interest rate by 0.25% to a 22-year high. At the same time, Fed Chair Jerome Powell signaled that further rate hikes would depend on the data, driving the risky assets higher. Today we will see more interesting, highly impactful events. Let's look at the main ones.
Main market news
- The European Central Bank is expected to deliver the 25-basis-point rate hike today at 15:15 GMT+3, which could be one of its last moves upwards. Traders will follow the Press Conference, where ECB President Christine Lagarde will share insights on the monetary policy. Meanwhile, EURUSD strengthened before the meeting. Any unexpected announcements will affect the pair.
- Meta delivered better-than-expected data in its earnings report. The company's revenue strengthened by $31.99 billion (+11.5% QoQ). The company announced that it had almost finished its planned lay-offs and set revenue expectations for the third quarter at $32-34.5 billion, higher than Wall Street expects.
- Hedge funds are buying Chinese stocks at the fastest path after recent government support policies, the Wall Street bank said in a note on Wednesday.
- S&P500 rose by 0.6% on Thursday after the Fed Meeting. Nasdaq strengthened by 1.07%. Gold remained near the 1980 level.
- Today's scheduled earnings include Intel, McDonald's, Mastercard, and Ford.
Technical Analysis of EURUSD
EURUSD slid below 1.1090 and fell towards the support at 1.1000 (200-period SMA) after the ECB Press Conference. If the pair breaks below the 1.1000, the next support will lie at 1.0920.
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