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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
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
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?
  • #Stock market performance is considered an important predictor of the economic outlook. What else can it be used to project? #Elections2020
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here:
  • 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:
  • 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.
  • 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:
  • 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:
  • USD awakens, placing GBP/USD on the backfoot, while EUR/GBP cracks 0.90. Get your #currencies update from @JMcQueenFX here:
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here:
  • 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:
S&P 500 Muted as Banks Prime US Earnings Season ahead of Phase-One Signing

S&P 500 Muted as Banks Prime US Earnings Season ahead of Phase-One Signing

2020-01-14 17:47:00
Thomas Westwater, Contributor

Bank Earnings Key Points:

  • Three of the biggest banks in the US posted their Q4 earnings this morning showing mixed results as Wells Fargo disappoints
  • JPMorgan and Citi Group posted positive results, with JPMorgan posting the most profitable year ever for a US bank in 2019
  • Geopolitical tensions along with changes to monetary policy are eyed as risks to future growth in the sector with

The markets are taking a cautious approach as earnings season kicks off this week after the S&P 500 rose to a new record high this Monday as geopolitical tensions eased and markets eyed this Wednesday’s anticipated sign off on the phase-one trade deal between the US and China. JP Morgan and Citi Group led the charge this morning beating expectations. However, Wells Fargo printed disappointing figures missing on earnings and revenue. In net the banking sector is moving higher today, with the financial sector of the S&P 500 up 0.83% in Tuesday morning trading.

JPM,WFC, C Earnings

Data Source: Bloomberg

A better-than-expected earnings season could continue to lift the S&P 500 to new highs, but several headwinds remain in the economy and earnings season gives investors a chance to hear forward views from corporate executives. JPMorgan Chase CEO Jamie Dimon stated that consumers continue to be in a strong position. However, Mr.Dimon also gave mention to complex geopolitical issues as a potential headwind, something highlighted in both Citi Group and Wells Fargo’s earnings reports.

Overnight FED Swap Pricing

Data Source: Bloomberg

Risks stemming from changes in monetary policy was also a common theme noted in this morning’s earnings reports between the big banks. While lower rates can boost investment and economic conditions, they also cut into the profitability from interest-bearing assets held on balance sheets.

Equities Forecast
Equities Forecast
Recommended by Thomas Westwater
View the DailyFX first quarter equity forecast
Get My Guide

The Federal Reserve will look to keep their mantra of a “wait and see” approach after cutting rates three times in 2019, but overnight swaps are indicating a dovish lean into early 2021. Hitting their 2 percent inflation target will be the Fed’s key for interest rate adjustments this year, as the labor market remains strong.

However, the Fed’s preferred metric to measure inflation remains weak at a 1.5% annual basis according to the PCE deflator. Still, Core CPI has trended up to 2.3% in recent months which could signal future strength for the Fed’s watched PCE figures.

--Written by Thomas Westwater, Intern Analyst for

Contact and follow Thomas on Twitter @FxWestwater

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