Markets had quickly waved off war fears after Wednesday’s volatile session, enjoying the consecutive positive US Data reports.
Yesterday, saw another decent report (+0.6% vs 0.1% exp), which led to markets rallying strongly – Complemented by a very decent Earnings season, the and are again closing at their record highs.
The new CFD Records are 6,311 and 23,133, respectively, for the indices. The also broke out from a bearish shorter-term downtrend, benefiting from the positive sentiment.
Netflix (NASDAQ:), by the way, just released their earnings, with a marginal upwards surprise (nothing crazy there).
Elsewhere, we saw some disappointing Employment data from Australia (4.3% vs 4.1% exp), leading to some strong selling in the .
The UK additionally saw weaker Employment and Wage growth, but we haven’t seen a similar weakness in the , which held surprisingly well against the – Cable is technical support around the 1.34 level.
Crypto Altcoins have also shone again yesterday, with leading and following closely – The Market really is appreciating the consolidation in at its highs, allowing the rest of the digital asset market to shine again.
Metal performance has been relatively calm, with ranging around its $3,300 Pivot, and pursuing their run higher and Silver retracting off still consolidating around 14 year highs.
Daily Cross-Asset Performance
Source: TradingView
There was less volatility than yesterday’s trading, with being the winner (0.94% after a few rough sessions) and Gold the least performing Majorly traded asset.
A Picture of Performance for Major Currencies
Source: OANDA Labs
The US Dollar regained some of its lost strength from yesterday and is back on top, with the GBP closely following despite worse than expected.
The AUD is the loser of the day after the disappointing Employment data brought back cuts on the table, closely followed by the then the (not enjoying the risk-on session)
Earnings Season: Who Is Releasing Their Numbers Today?
Source: Nasdaq.com
Expect earnings from Charles Schwab (NYSE:), 3M (NYSE:), American Express (NYSE:) and Schlumberger (NYSE:).
The earnings season has seen some decent results, and banks have shone quite well
A Look at Economic Data Releasing in the Overnight and Upcoming Session
Yesterday’s session is not finished for JPY Traders as Markets await the Japanese data releasing at 19:30 this evening, expected to cool off from 3.7% y/y to 3.3% – Any upwards surprise should prompt some much-anticipated reactions from the Bank of Japan.
Except for that, watch for the upcoming Waller speech at 18:30 ET (who surprised Markets with some dovishness at his last speech).
Today will also focus on US Data with the Monthly University of and release, expected at 61.5
Safe Trades!