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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Wall Street
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
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇦🇺 Ai Group Services Index (APR) due at 22:30 GMT (15min) Previous: 58.7 https://www.dailyfx.com/economic-calendar#2021-05-06
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/dX69A341oc
  • US Dollar Outlook: USD/CAD Volatility to Rise, Jobs Data Looms -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/05/06/us-dollar-outlook-usd-cad-volatility-to-rise-jobs-data-looms.html #NFP $DXY $USDCAD https://t.co/OIYZ2YXxLK
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • The Federal Reserve discussed the vulnerability of asset prices should appetite change. Get your market update here: https://t.co/0nAEKEX1eh https://t.co/BD24UcDeyT
  • EUR/USD stronger amid broad USD weakness on Thursday $EURUSD https://t.co/h042KoSyuA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.98% 🇨🇭CHF: 0.60% 🇦🇺AUD: 0.49% 🇳🇿NZD: 0.26% 🇯🇵JPY: 0.11% 🇬🇧GBP: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4u2cNfSmLn
  • RT @BrendanFaganFx: Federal Reserve Hints at Potential Declines in Asset Prices, Calls for Hedge Fund Transparency #Fed #FederalReserve #F…
  • Both EUR/JPY and EUR/USD are hovering near multi-year downtrend downtrends, while EUR/GBP may still have more room to the topside. Get your $EUR market update from @CVecchioFX here:https://t.co/2SYCKwz8hz https://t.co/tj6UQUDzRL
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 3.18% Gold: 1.61% Oil - US Crude: 0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mo9LS3teJl
Apple Stock Price Climbs on Earnings Beat, Dow Jones May Follow

Apple Stock Price Climbs on Earnings Beat, Dow Jones May Follow

Peter Hanks, Strategist

Apple Stock Talking Points:

  • Once the largest corporation by market cap, Apple retraced significantly in the last three months and has shed over $350 billion from its valuation
  • The company announced it will revert to setting iPhone prices in local currency in an effort to revive sales
  • On the semiconductor front, Advanced Micro Devices reported a miss on revenue a day after competitor Nvidia lowered their Q4 guidance

See Q1 2019 forecasts for the Dow, Dollar, Bitcoin and more with the DailyFX Trading Guides.

Apple’s stock price tiptoed higher in Tuesday's after-hours trading after the company reported earnings slightly above analyst expectations. Revenue came in at $84.3 billion versus the expected $84.1 billion. while earnings per share (EPS) read $4.18, a marginal beat to the $4.17 expected. Despite the beat, the results were widely expected to match the lowered forecasts issued by the company nearly a month ago. At the time, many blamed the earnings revision for a USDJPY flash crash. Today’s market response was within status quo as Apple shares traded slightly higher and currencies looked to Brexit concerns.

Apple Stock Price (AAPL), January 29th (Chart 1)

Apple stock price after earnings report

Chart source: Marketwatch

Still, some concerns linger. The corporate behemoth previously attributed the miss to slowing sales in China amid receding global growth and the US-China trade war. Today, Apple CEO Tim Cook announced the company will revert to pricing iPhones in a country’s local currency in an effort to revive sales. Apple forecasts $55 billion to $59 billion in revenue next quarter, compared to forecasts of $58.97 billion. Next quarter's report will provide evidence on the strategy's efficacy.

Chipmakers Remain Troubled, but AMD Stands Tall

Similarly, Advanced Micro Devices (AMD) announced Q4 earnings after the close. AMD missed analyst expectations on revenue at $1.42 billion versus $1.44 billion but met on EPS $0.08 versus $0.08. The chip-maker also revised Q1 forecasts lower, with expected revenue at $1.2 billion versus analyst forecasts of $1.47 billion.

Advanced Micro Devices (AMD) Stock Price, January 29th (Chart 2)

AMD stock price after earnings report

Chart source: Marketwatch

The miss comes one day after competitor Nvidia (NVDA) lowered guidance for their Q4 earnings. Further, Intel (INTC) missed earnings last week while attributing much of their lost revenue to a slowdown in China. Follow @PeterHanksFX on Twitter for live updates and analysis of earnings reports. Despite AMD’s miss, the performance was robust given the results from competing chipmakers. Thus, shares of AMD traded 7% in after-hours.

The robust earnings performance from the two tech companies could help to boost equity sentiment for Wednesday’s session. After the rocky trading on Monday and Tuesday, the broader market could be primed for a rally if FANG members Facebook and Amazon impress later in the week.

Dow Jones Price Chart, Daily Timeframe January 2018 – January 2019 (Chart 3)

Dow Jones Price Chart after Apple earnings

Similarly, China’s e-commerce giant Alibaba reports Wednesday before the market’s open. A surprise performance could stave off some concerns on consumer spending in the world’s second largest economy. On the other hand, a complete miss would further confirm a slowdown in China.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: Will the Stock Market Crash in 2019?

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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

DISCLOSURES