Ipek Ozkardeskaya
Swissquote Bank Ltd
The big story of yesterday was the disappointing results from the biggest European company, ASML, where sales missed estimates and new orders slumped by 60% compared to a quarter earlier. The results raised questions regarding the sustainability of demand from chipmakers and the AI rally. The S&P 500 and Nasdaq extended losses. TSM and Netflix are due to reveal results today.
Elsewhere, the US treasuries rebounded yesterday, and the dollar gave back gains as authorities around the world highlighted the ‘serious concerns’ regarding the depreciation of the Japanese yen and the Korean won against the greenback. The EURUSD and Cable rebounded but the divergence among the central bank policies remain in favour of further weakness in the euro and sterling against the greenback.
In energy, US crude gives back gains but risks remain tilted to the upside due to tense geopolitical landscape.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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