The week kicks off on mixed sentiment, technology shares that have high exposure to advertisement revenues came under pressure on Friday, after Snap said Apple’s privacy changes prevented them from targeting and measuring ads.
The earnings deluge will keep investors busy this week. Apple, Facebook, Amazon, Alphabet, Microsoft, Twitter, Visa, MasterCard, Robinhood Markets, General Motors, McDonald’s, Starbucks, Exxon Mobil and Chevron are due to announce Q3 earnings.
In the FX markets, the USD-TRY hit a new record on weekend news that ambassadors from ten nations, including France, Germany and the US, are no longer welcome in Turkey. On the economic calendar, the Bank of Canada, the Bank of Japan and the European Central Bank will announce their latest verdict this week, but the rising inflation should keep the hawks relatively alert.
In cryptocurrencies, Bitcoin consolidates above the $60K mark, but the arrival of Bitcoin ETFs announce a fees war between the ETF providers, and that could heat up the market in the coming weeks.
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.
Recommended Content
Editors’ Picks
AUD/USD pressures as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.