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.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.