The Big Picture
The US earnings season is in full flight. After Alcoa´s weak numbers initially left investors unsure, further results have mostly been positive. In the financial sector JP Morgan, Citicorp, WellsFargo and Goldman Sachs all reported good numbers. This was mainly due to good results in their bond trading operations. In the tech sector Apple, Microsoft, Google, Amazon and Facebook are due to report in the next 2 weeks. Netflix already surprised with its good results, as subscriber numbers grew due to their interesting in house production. In Germany BASF showed convincingly strong numbers. It remains to be seen if the results season will provide an impulse for the equity markets to break out of their current sideways trend.
The DAX is in n sideways trend. Resistance is at 10820, support at 10250.
Euro / USD
The Euro is in a large sideways trend against the Dollar. Support is at 1.0822, resistance at 1.1429.
USD / JPY
The USD is in an upward trend.
Gold is in the process of bottoming. Support ist at 1240 USD
WTI Oil is in an upward trend
The German stock market showed strength on Tuesday, gaining 1.22%. A positive tone in US futures gave support. Highest gaining stock in the DAX was Lufthansa, rising 3.18%. Lufthansa has seen a trend reversal and is continuing in an upward trend. After showing bad quarterly results, Continental was the only losing stock in the DAX, falling 1.34%. In the USA, the S&P 500 gained 0.62% on the back of good company results. Yahoo and Intel reported numbers after the market closed. Yahoo managed to beat expectations and rose. Intel gave a weak outlook for the next quarter, in response to dropping PC demand, the share dropped 3.4%. Asian markets are unchanged. WTI Oil continues its upward trend and gains 0.93%. Gold is slightly lower and the USD unchanged.
14:30 USA: Housing Starts
20:00 USA: Fed Beige Book
RoboForex Analytical Department
USA: Halliburton, Morgan Stanley, American Express, Ebay
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.