Stocks keep on rallying ahead of more tech earnings

Chris Beauchamp IG

Risk appetite still strong ahead of more tech earnings

April’s dip buyers can feel well pleased with their work, and could be justified in looking forward to more gains in May. Last night’s tech earnings helped save markets from the poor GDP reading, and the pressure is now on Apple and Amazon to repeat the trick tonight. Sentiment was so washed out in April that a bounce was inevitable, but it looks like there’s still enough bearishness to go around, providing fuel for more gains as sellers are forced to get back in to the market.

Gold at new two-and-a-half week low

Equities and gold have been inversely correlated of late, and it looks like the correction in the latter has further to go. Fears of a worsening global outlook drove a manic rush into gold, which took it to record highs, but these flows have eased for the time being. While yesterday’s data seemed to justify the flight to gold, a period of better data may well see more short-term downside for the commodity.

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Chris Beauchamp

EUR/USD steadies near 1.1650 ahead of US Nonfarm Payrolls

EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s policy outlook. December NFP is forecast to show job gains of 60,000, down from 64,000 in November.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold defends $4,450, looks to the crucial US NFP report

Gold struggles to capitalize on the previous day's goodish move up from the vicinity of the $4,400 mark and attracts some sellers while defending $4,450 in the Asian session on Friday. The critical US employment details will offer more cues about the Fed's rate-cut path, which, in turn, will influence the US Dollar price dynamics and provide a fresh impetus to the non-yielding bullion.

Forecasts for Payrolls are all over the place

Yesterday’s data put the kybosh on the idea the Fed needs to cut rates fairly urgently to protect the labor market. The jobs component of the ISM services index was nicely over 50, and that rising JOLTS voluntary quits rate also points to no real heartache in labor.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.