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Earnings Releases, Stocks, Currencies, Market Talking Points

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Keep up with the latest economic news this week! Follow along as we discuss currencies, stocks, earnings, and prices – all you need to know for successful trading.

Global markets ended mostly unmoved last week, with the US dollar offering a minor increase of 0.1%. The S&P 500 saw slight contraction and Nasdaq 100 logged in further losses at -0.6%, while Germany’s DAX 40 added to its total with an uptick of .5% and UK FTSE rose by half-a-percent as well. Japan’s Nikkei 225 showed progress but Hong Kong’s Hang Seng tanked 1.8%. 

Despite investors starting off on an optimistic note for earnings season, their worries about central bank tightening overshadowed any gains achieved through optimism alone.

Worth noting; this was proven true when one year credit default swaps raised to heights unseen since 2008 or earlier having potential effects not only within America itself but around our interconnected world today too!

Earnings, S&P 500 and Nasdaq 100 Updates

Wall Street capped off the week slightly downtrodden as investors shifted their sights to next week’s highly anticipated quarterly earnings reports.

Technology giants Microsoft, Alphabet, Meta and Amazon will take center stage – any positive news from these names could provide a much-needed shot in the arm for markets still digesting recent redness. 

Mega Cap tech stocks have been sought after by investors everywhere in 2023, as they look to find solace from volatile markets. But for these giants of the stock market  Microsoft and Alphabet among them – it’s more than just expected financial results that will set sentiment; each company must also strategize effectively with new technologies like artificial intelligence (AI). 

Despite market turbulence and challenging economic conditions, stocks have still soared in recent months. However, that trend appears to be changing as investors pause before investing further capital  they’re waiting for corporate earnings reports from various companies before making their next move.

As earnings season kicks into full speed and more S&P 500 companies release their quarterly results, investors have been glued to the unfolding developments.

Last week saw notable movements in stock prices caused by US Federal Reserve officials’ remarks, positive Chinese economic data and global inflation numbers – with 76% of 18% reporting firms exceeding estimated EPS figures and 63% outshining revenue predictions so far.

A further 180 companies are due to report Q1-2023 details this coming week including 14 Dow 30 representatives presenting a great opportunity for traders who can stay ahead of key market sentiment changes as they happen!

If popular opinion isn’t met or expectations don’t rise up to current hype levels, Wall Street could be headed straight into a difficult sell-off this year. What comes next is anyone’s guess!

Analysts remain optimistic about the state of China’s economy, which is good news for other nations in Asia and beyond. In contrast, businesses in America are showing signs of slowing down as weekly jobless claims have risen while US inflation has held steady despite expectations that it would fall – all facts indicating a probable 25-basis point interest rate hike from the Fed this month. 

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With Japan being one major exception to global economic recovery outlooks so far this year, investors will be closely observing every macro data release keenly moving forward.

In New Zealand, Q1-2023 inflation data was lower than expected, suggesting a possible halt in price hikes and causing the RBNZ to consider hiking borrowing costs by another 25 basis points. Meanwhile Japan’s annual CPI showed no major surprises with growth of 3.2% but is still short of their 2% goal set by the Bank of Japan (BOJ).

Coming Up This Week

Investors should brace for a packed week of data releases, starting with the closely watched German IFO business climate index on Monday. On Tuesday, important US consumer confidence and housing market figures will be released possibly providing further insights into economic recovery from pandemic-related losses.

But from Wednesday to Friday other major indicators such as Australia’s Q1 inflation figures, Germany’s GfK consumer confidence survey results along with durable goods data in the US are expected not forgetting Thursday’s all-important preliminary report on US GDP growth rate during this period too!

Beyond that however looms another critical event later down the line:

The potential failure by lawmakers in Washington D.C to raise America’s debt ceiling which threatens its ability to pay off loans made before June 2021 could influence global markets significantly if unresolved quickly enough.

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Predictions

The EUR/USD pair may get a much-needed jolt of energy in the coming days as data releases are set to weigh on its current two-month low. Across the pond, GBP/USD is still working out how it should proceed following a strong rally and testing some key levels ahead. 

Meanwhile, ominous signs for AUD/USD have come about with US economic news likely influencing any further movements this upcoming week.

On that note could America’s GDP be pointing towards uninspiring growth? 

As far as gold goes (XAU / USD), momentum was temporarily lifted by positive PMI reports but investors will really be watching where they land after next weeks’ figures drop before placing their bets again – just like what S&Ps seem to likewise do these days; bulls pushing upwards…but slowly slipping away instead!

Disclaimer:

All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.

Author

  • Zahari Rangelov

    Zahari Rangelov is an experienced professional Forex trader and trading mentor with knowledge in technical and fundamental analysis, medium-term trading strategies, risk management and diversification. He has been involved in the foreign exchange markets since 2005, when he opened his first live account in 2007. Currently, Zahari is the Head of Sales & Business Development at TraderFactor's London branch. He provides lectures during webinars and seminars for traders on topics such as; Psychology of market participants’ moods, Investments & speculation with different financial instruments and Automated Expert Advisors & signal providers. Zahari’s success lies in his application of research-backed techniques and practices that have helped him become a successful forex trader, a mentor to many traders, and a respected authority figure within the trading community.