Q1 Earnings Season In Full Throttle Driving Markets, Amid Some Challenges.

By Content-mgr - on April 23, 2019

Q1 Earnings Season in full throttle driving markets, amid some challenges. With all markets in fully operational following the Easter break. Watch Oil fly and land.

Today, some 146 companies including Twitter, Snap and eBay release their quarterly earnings reports. As the effects of Lockheed Martin and Coca-Cola trickles in.

Prospects look very promising for the aforementioned companies, which is likely going to support the Dow.

Global Stocks: Global stocks were seen mixed. Asian stocks were mixed, while EU was mostly bearish, brought on by the slumping Banking shares namely, Deutche, Commerz, Societe General, and BNP Paribas all saw their shares value plummet on average of about 2.0% in recent sessions. Meanwhile, the US prepares to consolidate some gains on the back of the earnings reports.

USA30: Has been bullish rallying 0.20% by the time of print 12:45 GMT. From the day’s open of 26,516.0. However, after a slight sideways movement the asset is observed paving trends in a range from lows of 26,462.0 to highs perhaps exceeding the current resistance level of 26,565.5 as several earnings reports are delivered.

UK100: Since Monday the FTSE 100 futures were observed defiantly up. Part of the reason is based on the export heavy futures which amongst other listing has Oil or petroleum companies such as BP. Who’s shares rally in tandem to the surge with Oil prices. The UK100 was seen up 0.41% trading from 7,411.8 -7,443.5.   

Germany 30: Was spotted contracting as some of its listings like the Deutsche Bank shed gains pulling the entire index down. Seen trading down 0.37% fromhighs of 12,301.6 heading perhaps to the support levels of the day at 12,209.5.

Italy 40: It should be noted that, FTSE MIB has made a remarkable recovery from Friday 18th lows. Trading up 0.10% between 21,387.00 – 21,522.50.

Commodities:

Oil: WTI crude oil was seen volatile yet bullish ahead of the day’s API weekly oil stockpiles report trading capriciously between 65.58 – 66.19. the final direction will depend on the outcome of the API results, naturally, traders who managed to take their positions earlier, have increased their ROI significantly. While the US refuses to renew waivers given to countries purchasing Iranian oil with impunity.

Gold: The Precious metal continues to lose ground as investors flock to take the various earnings reports to take some profits. The current trading range was depicted between 1,268.85 – 1,278.45 However, the support level of 1,268.85 may be broken.

FX Market:

GBP/USD: The pair were seen trying recoup losses trading between 1.2945 – 1.3019. If we may remind you Brexit saga persist and thus caution should be exercised as downward trends lurk.

EUR/USD: Ahead of a deluge of reports from the US the EUR was seen standing tall against the USD trading between 1.1214 – 1.1263 however,with US New Home Sales and Services PMI on tapthe EUR, risks slipping perhaps to its support level

USD/JPY: In risk on fashion, it could be observed that the USD gains ground against the Yen. Ranging between 111.66 -112.02

The Cryptocurrencies.

Today BTC/USD was seen tacking on more gains trading 3% up from 5,306.5 to 5,432.8 the expectation is for further upside as more spread betters attempt to reap some gains this could send the BTC/USD pair beyond 5,600.00, levels which crypto enthusiast like myself have been fantasies over. Naturally, ETH, and XRP are expected to rally, However, once again caution is advised. Abrupt downward trends could resume before knee jerking upwards again.  

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