Trading Insights: US dollar weakest since April 2022

The above chart illustrates the 16 month percentage performance of the US dollar vs the EUR, JPY, GBP, CAD, SEK, and the CHF.

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

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Market Commentary

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.

Indices to keep an eye on during earnings season: Dowjones 30; SP500 and the US100.

*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

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