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The RS has moved from the weak channel (between the lower blue and red bands) into the neutral region between the blue bands (blue arrow). The RSI is on the cusp of turning bullish, I.e. moving above 50 (red arrow).
The streaming giant had a tough 2022, but managed to react during the second half, so markets eagerly await the latest quarterly results, which are due on Thursday January 19, 2023
Tomorrow sees the Q4 earning season kick off, with several US banks reporting. We examine FXCM’s US Banks basket (US.BANKS), which comprises JP Morgan Chase, Bank of America, Wells Fargo, Citigroup, and Capital One Financial.
Markets reacted positively to the fact that Fed Chair Powell did not comment on monetary policy yesterday, now awaiting Thursday’s CPI inflation
Watch today’s US Open for insights on the latest themes driving the markets, the Golden Cross of EUR/USD and more
The US30 dropped 165 points yesterday. This followed the ADP surprise to the upside, showing 235K jobs were created (153K - forecast). This prompted renewed rate hike fears, given the Fed concern over wage inflation.
The latest Personal Consumer Expenditures (PCE) figures came out today and showed that inflation continued to moderate in November
The US index slumps in the aftermath of last week’s hawkish Fed rhetoric, facing renewed pressure today, as the Bank of Japan surprised investors with a tweak in its yield policy
Today’s poor economic data will reinforce the market’s expectation of a Fed pivot. This despite yesterday’s hawkish Fed tone. Core retail sales printed at -0.2% MoM against and expectation of 0.2% and last month’s 1.2%.
Watch today’s US Open for commentary on the latest policy decisions by the Fed, the BoE and the ECB
The US Federal Reserve downshifted to a smaller rate increase on Wednesday, but signaled more tightening ahead, projecting a higher terminal rate
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