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Articles
Market Analysis – Oil tumbles on Saudi price cut – USD, JPY, CHF
USD ultimately ended lower on Monday with the US Dollar Index (DXY) first testing the resistance at 102.57 to the upside before reversing course to test the support at 102 to the downside. A risk on equity markets and some dovish developments. Data saw the NY Fed Survey show lower than expected inflation expectations. There was also a dovish call f...
January 9, 2024Read More >The Week Ahead – XAUUSD, AUDUSD, DXY
Global markets enter the second week of the new year in cooldown mode with risk assets taking a hit after the red-hot finish to 2023. The NASDAQ having its worst start to a year since 1999, dropping almost 4% on the week, risk sensitive currencies AUD and NZD following not far behind. FX traders have a slew of CPI reports in the coming week to l...
January 8, 2024Read More >Constellation Brands posts mixed results
US producer and marketer of beer, wine and spirits, Constellation Brands Inc. (NYSE: STZ), announced Q3 fiscal 2024 financial results before the market opened in the US on Friday. The company reported revenue of $2.471 billion for the quarter, which fell short of $2.538 billion expected. Earnings per share topped analyst estimates at $3.19 pe...
January 8, 2024Read More >FX Analysis – USD flat ahead of NFP, EUR rallies on PMI beats, JPY lags
Beats in US employment data ahead of today’s key Non-farm payroll figure saw the US Dollar Index eke out another gain after weakness in the APAC session reversed in the European session. DXY up for the 5th straight day, having its longest winning streak since September and it’s best start to a year since 2005. DXY hit a high of 102.53, st...
January 5, 2024Read More >Walgreens Boots Alliance tops estimates but the stock is falling
Walgreens Boots Alliance Inc. (NASDAQ: WBA) released first quarter of fiscal 2024 financial results before the opening bell in Wall Street on Thursday. The American healthcare, pharmacy, and retail company reported revenue of $36.707 billion for the quarter, which topped analyst estimate of $34.949 billion. Revenue was up by 10% from the same pe...
January 5, 2024Read More >Market Analysis – Dollar rips, AAPL dips, Oil take a wild ride
The new trading year kicked off with a dip in equities with Big Tech leading losses in Tuesday’s session, AAPL being the big loser after a downgrade from Barclays citing concern in iPhone demand. Yields and the USD ripped higher, the US Dollar Index having its biggest daily gain since March 2023. Crude oil capped off an interesting session with a...
January 3, 2024Read More >Tesla announces Q4 2023 deliveries and confirms the date for earnings
Tesla Inc. (NASDAQ: TSLA) reported the latest delivery numbers for Q4 2023 on Tuesday. World’s largest electric vehicle company produced around 495k cars during the quarter. Deliveries reached 484k. The company produced a total of 1.85 million vehicles last year – up by 35% year-over-year. Total deliveries reached 1.81 million – up b...
January 3, 2024Read More >FX Analysis – Fed pivot bets to be tested this week
FX markets enter the new year with a continuing backdrop of a weaker USD as traders bet on a Fed pivot in the first half of the year. That narrative could be tested later in the week with some key US manufacturing and employment data, including the monthly Non-farm payrolls. Key levels look to be tested this week in different FX pairs with AUDUS...
January 2, 2024Read More >Market Analysis – Gold, USDCHF, Crude Oil
Wednesday’s session saw another drift higher in equities with volumes still in holiday mode and few major catalysts to drive market action. There were some big moves in safe haven assets with USDCHF tanking and Gold breaking a key resistance level, a big build in inventories also saw Crude Oil take a tumble. USDCHF The Swiss Franc surged...
December 28, 2023Read More >FX Analysis – AUDUSD, XAUUSD – Testing Key Levels
The US Dollar has continued its year end decline after the holiday break in thin volume. Traders still holding onto the view of a dovish Fed come 2024 seeing yields also drop creating a headwind for the Greenback. AUDUSD The Aussie pushed has pushed higher this week, taking advantage of a weak USD and a risk on environment. AUDUSD breaking th...
December 27, 2023Read More >Market Analysis – USD slides, AUD hits key level, Gold rallies
Risk on returned to global markets in Thursdays session with equities rebounding strongly on weak US data that refuelled hopes of a faster pace to the Feds rate cutting cycle come 2024. USD sold off sharply partly due to month-end flows ahead of the holidays but accelerated by a bis miss in Q3 US GDP which came in at 4.9% vs the expected 5.2%. T...
December 22, 2023Read More >Paychex results announced – the stock is down
US professional services company, Paychex Inc. (NASDAQ: PAYX), released financial results for second quarter of fiscal 2024 before the market open on Thursday. Revenue reached $1.258 billion (up by 6% year-over-year), which fell short of $1.268 billion expected. Earnings per share was reported at $1.08 per share (up by 9% year-over-year), sli...
December 22, 2023Read More >Cintas beats estimates and raises future outlook – the stock hits record high
American company that specializes in the manufacturing and sale of workwear and uniforms, Cintas Corporation (NASDAQ: CTAS), announced the latest financial results before the opening bell in Wall Street on Thursday. Cintas reported revenue of $2.377 billion for the second quarter of fiscal 2024 vs. $2.341 billion expected. Revenue was up by 9.3%...
December 22, 2023Read More >Carnival sets records and beats expectations – the stock is up
British-American cruise line company, Carnival Corporation (NYSE: CCL), reported fourth quarter and full year 2023 earnings results on Wednesday. Carnival reported revenue of $5.397 billion Q4 (a new quarterly record) vs. $5.295 billion expected. The company reported loss per share of -$0.07, which was less than -$0.126 loss per share expecte...
December 22, 2023Read More >Nike earnings results are here
The world’s biggest sporting goods company, Nike Inc. (NYSE: NKE), reported Q2 of fiscal 2024 after the US market closed on Thursday. Nike reported revenue of $13.388 billion for the quarter (up by 1% year-over-year and down by 1% on neutral currency basis), narrowly falling short of Wall Street estimate of $13.391 billion. Earnings per sha...
December 22, 2023Read More >
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