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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The market’s preferred ‘fear indicator’ shows a persistent uncertainty around the near future. What can our current conditions and history tell us what to expect from the #VIX through the final two months of the year?https://t.co/jlhcFhH4sI https://t.co/zIrEjxqymJ
  • #Stock market performance is considered an important predictor of the economic outlook. What else can it be used to project? https://t.co/ViTMl19TW3 #Elections2020 https://t.co/methLCaBho
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/b9XwwYS9uJ https://t.co/8OIZVJnaD6
  • A #Euro reversal off technical downtrend resistance now risks a larger correction in price. Here are the levels that matter on the $EURUSD weekly chart. Get your #currencies update from @MBForex here: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/31/Euro-Technical-Outlook-EURUSD-Breakdown-Aims-For-Multi-month-Lows.html?QPID=30472&CHID=9 https://t.co/iVhmCXi9EG
  • We are days away from the US Presidential election and the markets are caught in the vortex. A contested outcome would raise serious volatility for the markets whereas a decisive outcome seems to support bullish $SPX and Dollar views from the market rank. https://www.dailyfx.com/forex/video/daily_news_report/2020/10/31/SP-500-and-Dollar-Forecast-Leads-Global-Markets-with-Elections-Expectations-.html https://t.co/JnJbyu6TRT
  • The future implications of the #Elections2020 may influence $AUDUSD following the #RBA and #Fed rate decisions as Congress struggles to pass another round of fiscal stimulus. Get your #currencies update from @DavidJSong here: https://t.co/soPu0Wefz2 https://t.co/UWsERr2AYh
  • Gold prices declined in the aftermath of bearish technical cues, but a key zone of support was reinforced. $XAUUSD volatility risk is elevated ahead of the #Elections2020. Get your #metals update from @ddubrovskyFX here: https://t.co/gWOxdqk8OL https://t.co/gBMgF0YNjH
  • USD awakens, placing GBP/USD on the backfoot, while EUR/GBP cracks 0.90. Get your #currencies update from @JMcQueenFX here: https://t.co/fndMQJLul8 https://t.co/elz5gNAKrB
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd https://t.co/7EzMPg9Kqg
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/DjMdgL5x19
Alcoa Reports Soft Revenue Growth as Q1 Earnings Season Begins

Alcoa Reports Soft Revenue Growth as Q1 Earnings Season Begins

2016-04-12 05:14:00
Daniel Dubrovsky, Varun Jaitley,
Share:

Talking Points:

  • Alcoa 1Q 2016 revenue at $4.9 billion versus $5.2 billion expected
  • Soft outcome impacted by foreign exchange, lower aluminum prices
  • Earnings data may drive monetary policy bets, risk sentiment trends

Having trouble trading in the FX markets? This may be why.

Alcoa Inc. released its first quarter 2016 earnings report after the close of US stock exchanges. The report showed that revenue declined 15 percent year-on-year to $4.9 billion, worse than the expected $5.2 billion. Earnings per share (EPS) beat estimateshowever, coming in at 7 cents versus 2 cents predicted.

The report cited negative impacts such as foreign exchange and low aluminum prices offsetting revenues by 20.7 percent. Automotive and aerospace were referenced as the leaders in earnings growth. Going forward, Alcoa’s global aerospace sales targets increased to a range of 6 to 8 percent. Despite the lower prices, primary metals and alumina sales generated strong profits.

Still, the company reported cutting 600 jobs in the first quarter. Perhaps the reduction in total costs associated with having fewer employees could explain why EPS increased despite revenue falling. Alcoa expects to lay off an additional 400 workers in the future. In addition, they are meant to implement other cost controls over time. Alcoa’s CEO Klaus Kleinfeld is confident that they will get to productivity targets this year.

Over the next couple of weeks, first quarter earnings reports from banks such as JP Morgan Chase and tech giants such as Facebook will be released. These figures can help gauge the strength of the US economy as well as that of the world at large, informing comparative monetary policy expectations. They can likewise trigger volatility in sentiment-linked currencies such as the Australian Dollar and the Japanese Yen. As with Alcoa, the impact of exchange rates will be closely monitored.

Alcoa Reports Soft Revenue Growth as Q1 Earnings Season Begins

TradingView Chart Created by Currency Strategist Ilya Spivak

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

DISCLOSURES