Market caution over earnings reports from major U.S. companies
13.10.2021
- Earnings Reports from U.S. Companies Including JPMorgan Chase and BlackRock
- Remarks by U.S. Federal Reserve Governor Brainard
Yesterday, the three major U.S. stock indices all fell for the third consecutive day, with the Dow Jones Industrial Average—which saw the sharpest decline—closing at $34,378, down 0.34% from the previous day. With a series of earnings reports from major U.S. companies scheduled for this week, a wait-and-see attitude has taken hold. WTI crude oil, which had briefly hit a new high for the year, fell back and is currently trading around $80.90.
In the foreign exchange market, the strength seen in Oceania currencies has paused during today’s Asian trading session, with the AUD/USD pair currently trading around 0.733. From a technical perspective, the AUD/USD pair has been forming higher lows on the daily chart and appears to be forming a double bottom. Therefore, we need to carefully assess whether the Australian dollar, which had been regaining momentum, will continue to rise from here.
Today, at 3:00 PM, UK GDP, UK industrial production, and UK trade balance will be released; at 6:00 PM, Eurozone industrial production; at 8:00 PM, South African retail sales;at 9:30 PM, the US Consumer Price Index; at 11:30 PM, remarks by Bank of England Deputy Governor Kanrif; at 2:00 AM, the US 30-year Treasury auction; at 3:00 AM, the release of the FOMC minutes (September); and at 3:30 AM, remarks by Federal Reserve Governor Brainard.While remaining cautious about today’s U.S. earnings reports, we will closely monitor the strength and weakness of the Oceania currencies against the U.S. dollar.
Author: Keisuke Sakurai
