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The risk appetite in global markets came under pressure while safe-haven demand increased after the US GDP and inflation data on Friday. For the first quarter, the US GDP posted a big “bearish” surprise, rising by only 1.1% compared to the forecast of 1.9%. Looking at the GDP separately for the four main components (consumption, […]
Amazon Tops Estimates… The big story from US earnings season yesterday was Amazon’s Q1 results. On the headline figures, the company posted earnings per share of $0.31 in Q1, a solid beat on the $0.21 figure Wall Street was looking for. Revenues were also higher at $127.358 billion vs $124.603 billion expected. While both figures […]
TitleUSDJPY H4 | React off resistance level TypeBearish Reversal Preference: Price is currently at our pivot point at135.658 which is a pullback resistance level that lines up with 78.6% Fibonacci retracement. A reverse from here price could drop to 1st support at 135.96 Alternative scenario:However, if price were to break above the pivot, it could […]
Daily Market Outlook, April 28, 2023 Wall Street surged overnight as tech earnings continue to support risk sentiment, Asian equities duly followed suit as markets remain bid buoyed by the latest robust round of earnings and further positive momentum came from the inaugural Bank of Japan meeting with new chief Governor Ueda. The newly minted […]
GDP Dipped in Q1 The release of US adv Q1 GDP yesterday fuelled a sharp recovery rally in global asset prices. At first look, GDP was seen printing just 1.1% in Q1, down firmly from the prior quarter’s 2.6% level and well below the 2% level the market was looking for. With slowdown fears a […]
Investors remained unperturbed by the disappointing publication of the US GDP statistics for Q1 2023. The economy increased by 1.1%, two times less than expected. Today will also be tense: personal income and spending reports for March are scheduled for publication alongside the Core PCE inflation component. Technically, the market still craves for securing above […]