News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:https://t.co/nwhy3XhE74 https://t.co/ir20IjaJFu
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.06% Oil - US Crude: -0.97% Silver: -1.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/H9676jm7CT
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.14% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.01% 🇯🇵JPY: -0.07% 🇳🇿NZD: -0.17% 🇦🇺AUD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tm1u1cKErl
  • #Market Snapshot $AUDUSD sliding to fresh session-lows on the back of #MorganStanley's suggestion #IronOre prices will fall in Q4 Haven-linked $USD and $JPY pushing back to session-highs after dipping lower in early trade $Gold nudging slightly higher https://t.co/FsT9RIZYvR
  • All eleven S&P 500 sectors ended deeply in the red, with energy (-4.55%), information technology (-3.21%), materials (-2.93%) and real estate (-2.91%) among the worst performers. A whopping 94.7% of the S&P 500 components closed lower. https://t.co/kqP3xPZBJf
  • Rising demand for safety boosted the US Dollar, which climbed for a third day to 94.43 - a two-month high. Strong USD dampened precious metal prices, and put pressure on risk-linked currencies namely AUD, NZD and NOK. https://t.co/ijthZpUdTn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.57%, while traders in EUR/GBP are at opposite extremes with 63.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/zn9sbgM386
  • While @IG_US Client Sentiment is offering a mixed outlook for the S&P 500 and #Dow Jones, these could be at risk to a turn lower based on multiple bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/9kYnq6hH1f https://t.co/YIvXZ76eH1
  • #NOK, #AUD and #NZD are expected to be the most-active #G10 majors versus #USD with one-week implied volatility at 16.33, 12.22 and 12 respectively [delayed] -BBG
  • $DJIA futures carving out a Falling Wedge pattern just above the 200-MA after falling over 8% from the September 3 post-crisis high. $DJI #DowJones Is a recovery in the works? Find out how to trade these patterns and more here: https://www.dailyfx.com/education/technical-analysis-chart-patterns/falling-wedge.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/7dfYFgkpub
Strong US Dollar Digs Into Multinationals 3Q Revenues

Strong US Dollar Digs Into Multinationals 3Q Revenues

2015-10-21 23:33:00
Ryan Cox,
Share:

Talking Points:

  • A number of multinational firms saw revenues decline in 3Q due in part to a stronger US dollar
  • American Express reported 3Q revenue down 14 percent compared to 2Q 2014
  • Biotechnology firm Biogen Inc. reported an increase in revenues by 11 percent in 3Q 2015

There has been a common theme among multinational corporations reporting declines in net revenues this earnings season - a strong US dollar. Consumer goods giant Johnson and Johnson saw their revenue decline in the third-quarter of 2015 attributing the results to unfavorable exchange rates that reduced the value of overseas sales. Kimberly-Clark reported similar declines in income this past session and said that exchange rates reduced sales by 12 percent. Coca-Cola had also forecasted Wednesday a 7 point currency headwind on net revenue for the fiscal year 2015, as the company’s third-quarter revenue fell.

American Express posted a third-quarter profit of $1.26 billion, or $1.24 per share. The bottom line for the company was under analysts’ estimates, down 11.4 percent from the same quarter last year. Overall revenue for American Express in the third-quarter was down 14 percent compared to third-quarter 2014. The company attributed the decline in revenue to three factors: the reoccurring effects of a stronger US dollar, higher spending on growth initiatives, and earlier changes to certain renewed co-brand partnerships.

Global biotechnology company Biogen Inc. was another high profile earnings headline. The company posted a profit of $966 million, or $4.48 per share for the third-quarter. That beat analysts’ estimates of $3.77 per share by 18 percent. On the topline, net revenue for Biogen increased 11 percent in the third quarter 2015 compared to the same period a year ago. Operating expenses were benefited by the company’s restructuring which has included an ongoing reduction in its global workforce by 11 percent. As part of one of the fastest growing industries biotechnology - an industry that has shown signs of faltering lately – Biogen Inc. strong earnings report has helped to give some confidence to the high-flying sector going forward. Many Biotech companies will report in the coming weeks.

Don’t know where to start in forex trading? Check out our courses here.

Strong US Dollar Digs Into Multinationals 3Q RevenuesStrong US Dollar Digs Into Multinationals 3Q Revenues

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES