It's a big week ahead for US earnings with 5 heavyweights reporting. Here is a quick technical look of the companies in question.
Latest news
The ECB policy decision was close to market expectations with the pledge for an accommodative policy over the medium term providing underlying support to equity markets. Global conditions were also supportive during the day.
The German DAX index gained 0.60% with a 0.25% advance for the French CAC index.
Major UK stocks posted initial gains on Thursday as risk appetite remained firm. There was, however, selling interest above the 7,000 level in the FTSE 100 index while coronavirus reservations also dampened support with a 0.4% retreat.
US equities were hampered to some extent by the higher than expected jobless claims data. Overall confidence held firm, however, with earnings reports underpinning confidence and the S&P 500 index gained 0.2%.
US futures held firm on Friday, but Asian bourses were generally on the defensive.
Trading carries a high level of risk to your capital. Losses can exceed deposits. Please read the full risk warning here.Trading spot foreign exchange and futures on margin carries a high level of risk and may not be suitable for all investors. You may lose all your capital. Loses can exceed deposits. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. If you are in any doubt about investment or the mechanics of such products, you should seek independent financial advice
Recommended content
Editors’ Picks
AUD/USD pressured 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.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.
Billowing clouds of apprehension
Thursday marked the fifth consecutive session of decline for US stocks as optimism regarding multiple interest rate cuts by the Federal Reserve waned. The downturn in sentiment can be attributed to robust economic data releases, prompting traders to adjust their expectations for multiple rate cuts this year.