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 Board Member 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 sentiment has taken hold. WTI crude oil, which had briefly hit a new year-to-date high, retreated and is currently trading around $80.9.
In the foreign exchange market, Oceania currencies, which had been strengthening, have paused during today’s Asian trading session, and the AUD/USD pair is 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 15:00, UK GDP, UK industrial production, and the UK trade balance will be released; at 18:00, Eurozone industrial production; at 20:00, South African retail sales; at 21:30, the U.S. Consumer Price Index; and at 23:30, remarks by UKremarks by BOE Deputy Governor Kanrif, a U.S. 30-year Treasury auction at 26:00, the release of the U.S. FOMC minutes (September) at 27:00, and remarks by U.S. Federal Reserve Governor Brainard at 29:30.While remaining cautious about today’s U.S. earnings reports, we will be closely monitoring the strength and weakness of the Oceania currencies against the U.S. dollar.
Author: Keisuke Sakurai
