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.

Free Trading Guides
EUR/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
Oil - US Crude
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
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.21% 🇦🇺AUD: 1.21% 🇨🇦CAD: 0.28% 🇪🇺EUR: -0.15% 🇨🇭CHF: -0.18% 🇯🇵JPY: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/oiEJHTo7e7
  • Weekly Strategy Webinar starting in 15mins! https://t.co/lxd5fZnn4H
  • Join @MBForex 's at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/nYIzx59rfT
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/ZlnTxUGpy9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.44%, while traders in US 500 are at opposite extremes with 70.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fZmIFD69Un
  • Análisis $XAUUSD: el oro avanza pero continúa limitado por la demanda del dólar #gold #oro #usd #trading https://t.co/XmbNkGLTbe
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: 1.06% Silver: 1.03% Oil - US Crude: -1.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rEjUTWcEhu
  • AUD/USD Tests Key Chart Level - Australian Dollar Price Outlook More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/04/06/AUDUSD-Tests-Key-Chart-Level-Australian-Dollar-Price-Outlook-MK.html?CHID=9&QPID=917714 https://t.co/EQPSqGoxA6
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.22% 🇳🇿NZD: 1.20% 🇨🇦CAD: 0.56% 🇪🇺EUR: 0.08% 🇨🇭CHF: -0.03% 🇯🇵JPY: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ERM5zEpMay
  • While Sino-US trade jitters are temporarily abating, China-Swedish trade tensions are rising as a part of a political contagion of growing economic hostilities between nations across the world. Get your market update from @ZabelinDimitri here:https://t.co/F1fVoyzoz5 https://t.co/9yE6F4tE7q
Nasdaq 100 Forecast: Apple Beat to Bolster Tech Sentiment Ahead of Fed

Nasdaq 100 Forecast: Apple Beat to Bolster Tech Sentiment Ahead of Fed

2020-01-28 22:10:00
Peter Hanks, Analyst
Share:

Nasdaq 100 Outlook:

  • The Nasdaq 100 will likely enjoy a strong tailwind to start Wednesday trading after Apple beat expectations
  • Similarly, the Dow Jones will look to earnings from Boeing, McDonalds and Dow Chemicals on Wednesday morning for influence
  • That being said, Wednesday’s FOMC meeting has the potential to keep early volatility contained

Nasdaq 100 Forecast: Apple Beat to Bolster Tech Sentiment Ahead of Fed

The Nasdaq 100 will look to start Wednesday trading with a boost from its largest component, Apple. The Cupertino, California-based technology company reported robust quarterly earnings that were able to satisfy the incredibly lofty expectations held by the market after share prices climbed more than 100% from early 2019. With a strong showing from the first of the major tech stocks to report this week, the Nasdaq finds itself in a strong position ahead of earnings from Microsoft, Facebook and Amazon due later this week.

Nasdaq 100 Price Chart: 4 - Hour Time Frame (November 2019 – January 2020)

Nasdaq 100 price chart after earnings

To be sure, the Nasdaq’s FAANG group – which was recently exchanged for "FAAMG" among some analysts, swapping out Netflix for Microsoft – has been responsible for much of the equity growth witnessed in the United States during the decade-long bull run. Recent uncertainty regarding the impact of trade wars, slowing global growth and expanding price-to-earnings ratios alongside the Fed’s ever-expanding balance sheet has worked to undermine tech sentiment as some investors have speculated the growth is largely beholden to the central bank.

Dow Jones, DAX 30 & FTSE 100 Technical Forecasts for the Week Ahead

While discussion around the proper valuation of these tech companies will likely persist, Apple’s influence on sentiment in the sector will be hard to ignore and that could help drive prices higher regardless. In pursuit of a continuation higher, the performances of Microsoft and Facebook on Wednesday afternoon, followed by Amazon on Thursday afternoon, will be critical. If the other tech-leaders disappoint, the group could see a wider divergence in share prices which would muddy the bullish case for the tech-heavy Nasdaq 100.

The Dow Jones, Economic Growth and Trade Wars

While the Nasdaq has its hands full with quarterly reports, the Dow Jones will look to earnings from some of its largest components. Starting on Wednesday morning, Boeing, McDonalds and Dow Chemicals are slated to reported. They are followed later in the week by Coca Cola, Visa and Caterpillar on Thursday morning, Thursday afternoon and Friday morning respectively. Follow @PeterHanksFX on Twitter for earnings insights and analysis.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Peter Hanks
Trading Forex News: The Strategy
Get My Guide

It is probably safe to assume the technology leaders will experience greater volatility, but the blue-chip index will require a solid performance from each of its members nonetheless. In turn, they may provide greater insight on developing trends in both the service and manufacturing sectors in the United States alongside any lingering effects of the US-China trade war.

The Nasdaq 100 and the Federal Reserve

That being said, the quarterly reports may pale in comparison to the influence of the Federal Reserve which is set to decide its interest rate range Wednesday afternoon. While no change to the Federal Funds Rate is expected, the status of the Fed’s repo market operations has taken center stage in its place. The impact on the US Dollar may be more acute, but it would be incredibly presumptuous to suggest the Nasdaq 100, Dow Jones and S&P 500 would ignore a hawkish Federal Reserve.

Starts in:
Live now:
Apr 08
( 15:04 GMT )
Recommended by Peter Hanks
Weekly Stock Market Outlook
Register for webinar
Join now
Webinar has ended

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

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Nasdaq 100, S&P 500 Forecasts: Will the Tumble Continue Despite Apple Earnings, FOMC Meeting?

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

DISCLOSURES

News & Analysis at your fingertips.