Wells Fargo & Company (symbol ‘WFC’) share price rose by around 16% in the first quarter of the year. The company is expected to report its earnings for the fiscal quarter ending March 2024 on Friday 12th of April before the market opens. The consensus EPS for the quarter is $1.09 compared to the result for the same quarter last year of $1.23. The bank had an...
Shares in JP Morgan Chase and Co (symbol ‘JPM’) had a rather aggressive bullish rally in the first quarter of 2024 and managed to gain around 17% in value. JPM is expected to release its earnings report for the quarter ending March 2024 on Friday 12 April, before the market opens. The consensus estimate for earnings per share is $4.22 compared to the result for...
Gold prices rose due to a weaker dollar and anticipation of U.S. inflation data, with expectations of new record highs by the end of the year. Traders are pricing in a 64% probability of the Fed cutting rates in June according to the Fedwatch tool, with strong support for gold prices from Chinese household demand and central bank purchases. Also if we take a look...
For over half a year, traders have been witnessing the epic rise of Germany’s Dax index (DE30), recently passing $18,000 (USD). For decades, the index, a beacon of Germany's corporate power, seemed invincible, with its German companies all reaching new peaks. But beneath this veneer of German engineering and strength, the foundations are shaking. Germany's robust...
Tencent Music Entertainment Group's (symbol ‘TME’) share price rose by more than 35% performing extraordinary in the last quarter of the year. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday, March 19th, before the market opens. The consensus EPS is $0.13, up from $0.12 in the same quarter last year....
Curious about the recent behavior of the US oil price? You're not alone. Many traders are keeping a keen eye on the US oil price chart, trying to decipher where the US oil market is heading next. Something interesting is brewing this week with US oil trading. Could there be a lucrative opportunity as the price potentially dips to the $76 mark and then aims for a...
On the chart, the price of gold has made extremely strong gains in March so far and is now clearly overbought. The main challenge for potential new buyers here is estimating the timing and depth of the next consolidation or retracement. December 2023’s high around $2,140 seems like an obvious short-term support, while below there round numbers might be more...
Shares of Adobe Inc. (symbol ‘ADBE’) have incurred losses in the last quarter of around 7% with the majority of it being made in the last two weeks of February. The company’s earnings report for the fiscal quarter ending February 2024 is due for release on Thursday 14th March, before the market opens. The consensus EPS is $2.97, against $3.57 in the same quarter...
Oracle Corporation’s (symbol ‘ORCL’) share price ended the quarter at a minor loss of around 2% managing to recoup the losses incurred on the 12th of December 2023. The company’s earnings report for the fiscal quarter ending February 2024 is expected to be released on Monday, March 11th, after the close of the market. The consensus EPS is $1.27, up from $1.22 in...
Oil prices declined to erase early week gains as traders continued to weigh the supply and demand outlook. OPEC+ agreed on extending production cuts till the end of Q2, while demand outlook remains fragile. The US oil is currently trading at $78.14, the next level of support could come in at $77.50 ahead of $75.70, while on the upside, the first line of resistance...
The price is trading in a somewhat aggressive bullish trend and is currently testing the inside resistance area where it reacted in mid and late November of 2023. Also, it is trading exactly on the upper band of the Bollinger bands indicating that volatility is fueled up while the Stochastic oscillator is in the extreme overbought levels. Both these indicators...
The gold price is currently near a two-month high due to subdued USD demand, a softer risk tone, and upcoming US data/events that could provide a fresh boost. The recent disappointing US macro data, like the decline in the second estimate of the GDP growth and lower than expected manufacturing PMI, as well as less-hawkish remarks by Federal Reserve officials have...
Oil prices fell due to concerns about higher-than-expected inflation potentially delaying U.S. interest rate cuts. The market is caught between bullish factors such as lower OPEC output and bearish concerns about weak demand in China after the Lunar celebrations came to an end and international traveling from and to China has slowed down. Anticipation of falling...
Gold prices remained within a tight trading range between $2,025 - $2,035 amid concerns of higher-for-longer U.S. rates, driven by signs of sticky U.S. inflation and resilience in the job market which resulted in the recent strengthening of the US dollar. Investors are closely watching for U.S. macroeconomic data to gain insights into the Federal Reserve's future...
Gold has recovered steadily since the significant drop around inflation on 13 February. Now that the price is within the value area between the 50 and 100 SMAs, it might consolidate for a while before resuming gains around the next important release. There’s no sign of saturation from either the slow stochastic or Bollinger Bands. Although the long-term trend from...
Fundamental The US dollar looks poised for a pullback after its seven-week rally as Friday’s hot PPI print failed to spur gains. Hotter-than-expected PPI (0.3% MoM, cons. 0.1%, prev. -0.1%) sent the DXY up briefly on Friday, then came down to a lower level than the pre-announcement level. Although the DXY will remain high, further upside is...
IEA expects an increase in global oil consumption in 2024. According to IEA, global oil demand could rise this year, increasing consumption from 1.2 million to 1.3 million barrels a day, easily absorbing swelling production from the Americas. On the other hand, Russia's friendly Oil tanker is being halted by the US sanctions. USOIL showed ...
GBPUSD corrected to 1.2570 before retaking the resistance level at 1.2615 again. If the GBPUSD continues to close above 1.2650, it may retest the 1.2770 resistance level. On the contrary, if the 1.2650 holds, the price may trade between 1.2615 and 1.2650 for a while before any breakouts.