Trading Insights: US dollar weakest since April 2022
USD vs developed and emerging market currencies
The table below illustrates the previous 52-week percentage performance of the US dollar vs a basket of developed and emerging market FX pairs.
Source TradingView July 17th 2023 7:06 AM UTC
Despite elevated inflation, robust US economic data i.e. strong jobs market is supporting the current risk on theme across financial markets
- German 40 Index (DAX) above its 50 day moving average, suggesting the minor intermediate term (26-49 days) uptrend remains intact. Upside extension towards €16,790s can not be ruled out, downside risk seen below the €14,684 support (see chart 1)
- SP500 Index broke above the key $4,500 resistance suggesting that further upside could remain on the table, eyes on the $4,670s provided price holds above the $4,320s.
Today’s Earnings Deck
The general consensus of online analysts suggests the below table of companies to report positive earnings today.
Source: Tradingview July 17 2023 7:45 UTC
The above table indicates the expected earnings per share estimate for the companies due to report today.
*Do your own research or speak with your financial advisor before making investment decisions.
Today’s economic calendar
Source: TradingView / J. Knobel July 17 2023 6:42 AM UTC
Do you have an opinion on where financial markets are heading? Express your opinion and trade with CFDs.
Not investment advice. Past performance does not guarantee or predict future performance.
Oil prices have extended gains as supply shortages overshadow recession risks. EUR/USD, GBP/USD break support while stoc...
Chinese property giant Evergrande's default places additional pressure on stocks. Oil prices dip while US treasury yield...