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S&P 500 Analysis: SPX rises after more tech earnings & despite sticky inflation
US stocks are set to open higher after impressive numbers from Alphabet and Microsoft. Meanwhile, US core PCE, the Fed's preferred gauge for inflation, was hotter than expected at 2.8% YoY, which is in line with February. Personal spending was stronger than expected. The data supports the view that the Fed is in no rush to cut rates. The central bank meets next week.
USD/JPY analysis: BoJ disappoints as focus turns to intervention and US data - Forex Friday
Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the Japanese yen, US dollar and look ahead to the next week.
DJIA, S&P 500, Nasdaq 100 Forecast: US Indices Vulnerable Through Earnings Season
The DJIA, S&P 500, and Nasdaq 100 all look vulnerable to more downside as long as this week’s highs hold.
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DAX analysis: Stocks hit by stagflation concerns amid earnings bonanza
DAX drops to test key technical support area as Wall Street is spooked by latest inflation data, further raising doubts over Fed's ability to cut rates. Earnings from Microsoft and Alphabet to come after the bell.
Dow Jones Analysis: DJIA falls after Meta disappoints, inflation rises
Meta beat earnings and revenue forecasts with EPS of $4.71 on revenue of $36.46 billion. However, the share price has slumped after weaker revenue guidance and higher spending plans. The selloff has hit sentiment and dragged other tech stocks lower. Meanwhile, the US Q1 GDP was weaker than expected, at 1.6%, annualised. However, core PCE inflation rose more than expected across the quarter. The Dow Jone analysis sees the price testing support at 38000,
Gold outlook remains positive as traders eye key US data
Gold outlook remains fundamentally supported in the long term as discussed in this article. In the short-term, traders are awaiting the release of US GDP and Core PCE data this week, ahead of NFP next week. Meanwhile, technical analysis shows the metal is finding some renewed support around its 21-day exponential average.
EUR/USD, FTSE Forecast: Two trades to watch
EUR/USD rises after German consumer confidence & ahead of US GDP data. FTSE rises on mining M&A news & after-earnings.
Nasdaq 100 analysis: Markets remain vulnerable despite tech rally
Tech earnings optimism underpins recovery for now, but markets still remain vulnerable. US bond yields remain elevated ahead of a record $70 billion sale. Nasdaq 100 technical analysis shows index is testing key resistance.
US Core PCE Preview: USD/JPY Flirts with 155 Ahead of Key US Inflation Report
Diverging interest rate expectations between the Federal Reserve and the rest of the developed world have been THE biggest story of the year for FX traders (USD/JPY in particular), and Friday’s Core PCE report will be the next major test to determine if that trend will carry over into Q2
S&P 500 Forecast: SPX rises with earnings in focus, Tesla jumps
Stocks are pointing to a modestly higher start as earnings continue to roll in. However, gains could be limited after stronger-than-expected US durable goods orders revived concerns over the Fed keeping rates high for longer. Tesla is set to open 12% higher despite missing both earnings and revenue estimates. The market was more impressed by the news of an acceleration in the production of affordable EV models. Meta will report after the close.
Euro to US dollar analysis: Will the EUR/USD find a bottom?
Disparity between US and Eurozone PMI data bodes well for euro. For now, the US dollar has rebounded slightly ahead of GDP and core PCE data. EUR/USD technical analysis shows rates testing a pivotal area circa $1.07 - a potential break above here would be ideal for the bulls.
DAX, USD/JPY Forecast: Two trades to watch
DAX rises with German IFO business sentiment data in focus. USD/JPY inches higher despite intervention threats and ahead of US durable goods orders.
Australian dollar setups following hot inflation print: AUD/JPY, EUR/AUD, GBP/AUD
It’s not just AUD/USD and the RBA interest rate outlook that have been shaken up by Australia’s hot March quarter inflation report with the Australian dollar gaining sharply against the crosses, especially those currencies whose central banks are still expected to ease monetary policy this year.
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