What appeared to be market angst for the Alphabet (NASDAQ:) earnings seems to have a bit more legs to it.
Markets have formed some kind of intermediate top in today’s session with the mixed US leading to the retracting off of a retest of its all-time highs, closing the session down about 0.70%.
The however loved the beat on the Services PMI but still retracted throughout the afternoon session back to negative territory (close to unchanged).
The Nasdaq has wicked three times just above its previous ATH (marking highs at 23,294 on its CFD) but the bigger picture still looks like a double top – at least for now.
One of the highlights for the day was not the ECB’s which was kept unchanged but the ongoing visit of Donald Trump at the Federal Reserve’s construction site that you can watch live right here – Trump had criticized the $2.5 billion cost of the renovations and isn’t the biggest fan of how the Fed takes their decisions so this might be fun to watch.
Commodities and Cross-Asset Mood
Commodities, metals and indices haven’t really showed any clear picture of the market mood today, with what seems to be some profit taking. Cryptos were also quite mixed.
Only and posted a decent up-day and on the reverse, palladium and gold got sold off the most for the metals.
Daily Cross-Asset Performance
made a decent comeback in the past 24h but is still about $100 from its $3,860 highs.
As mentioned earlier, oil had a decent day and is still trading within its range.
European stock indices also got battered a bit after yesterday’s euphoric performance from the US-Japan deal, dragged by Spain’s and .
A picture of today’s performance for major currencies.
The US dollar actually started to make a comeback (or looking at the charts, retracted a bit off of its lows) which put it back on top of majors – analysis of the coming up tomorrow.
The GBP and CAD actually struggled the most on the session, but the changes are very slight (between -0.08% for the Euro and 0.53% for the GBP).
Earnings Season: Who Is Releasing Their Numbers Tomorrow
Tomorrow won’t see too much in terms of market-moving earnings.
A look at Economic Data releasing in the evening and tomorrow’s session:
The session is not over yet for JPY traders who will await the key data which tends to be a good overview of the CPI for the whole country – might relaunch the volatility after consecutive slow days for .
Except for the in the UK (exp at -0.6%), there isn’t too much going on in the US data – still, watch for some reactions at the which may be volatile as business prepare for the upcoming tariff deadline.
Safe trades!
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