Apple’s crisp results are a tasty treat for Wall Street
FX Trader, Loonieviews.net
Summary: May Day brings sweet news for Apple investors as the stock shoots up more than 5%,, and there's also some suggestion that Friday's nonfarm payrolls might be stronger than expected. Until then, we have the Fed policy meeting to chew over this evening.
Apple’s results were a sweet treat for Wall Street. The three major indices are higher in early trading with this morning’s surprisingly strong ADP employment report providing an assist. ADP said that private sector employment rose by 275,000 jobs in March, which to some, means that Friday’s nonfarm payrolls may be higher than expected.
They won’t cave to Trump’s latest harangue, via Twitter, to lower rates. Nevertheless, the Fed is on record for stating that monetary policy decisions are “data dependent”. Most of the recent data that they depend on, has been on the strong side which not only muted chatter of a looming recession but could change the tone of the FOMC statement. If so, the US dollar will resume its uptrend.
The weaker than expected ISM Manufacturing Index (Actual 52.8 vs forecast 55.0) boosted EURUSD to 1.1243. A break above 1.1270 would shift the focus to 1.1360. A move below 1.1210 would target 1.1150.
Latest Market Insights
Quarterly Outlook Q3 2022: The Runaway Train
- Central banks' attempts to kill inflation is a paradigm shift, which could end in a deep recession.
Tangible assets and profitable growth are the winnersWith US equities officially in a bear market, the big question is where and when is the bottom in the current drawdown?
Understanding the lack of investment appetite among oil majorsThe everything rally seen in recent quarters has become more uneven, as its strength is driven by commodities in short supply.
The pressure is on as the wind leaves the sailsWith cryptocurrencies in sharp decline, are we entering a crypto winter or is the bear market a healthy clean-up of the crypto space?
Why the Fed can never catch up and what turns the US dollar lower?Many other central banks are set to eventually outpace the Fed in hiking rates, taking their real interest rates to levels higher than the Fed will achieve.
Bank of Japan: Swimming against the tideThe Japanese economy has gone from the age of deflation to rapidly rising prices in no time, leaving the Bank of Japan in a pickle.
Green transformation detour and bear market hibernationWith the impending risk of global econonomic derailment, we share the five things investors need to consider in this new half year.
Crisis redux for the eurozone?Whether there's going to be a recession in Europe or not, the path towards a stable economy will be agonizing.
Technical Outlook: Gold, Oil and a remarkable multi-decade perspective on EquitiesThe Nasdaq bubble pattern, USDJPY resistance, crude oil uptrend losing steam and the technical outlook for USD.
China: the train of new development paradigm left the station two years agoChina is transiting to a new development paradigm, as they are hit by deteriorating terms of trade, a slower global economy and an uncertain future while continuing attempts to contain the pandemic.