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Market Wire Update: Jul 14 09 16:40 EDT Intel just blew past analyst estimates on their earnings, and offered very strong forward guidance. That could sent global equities higher, and buy default the dollar lower. We will monitor the 17:00 EDT Swap Interest, and if things hold, will issue trade idea.
Market Wire Update: Jul 14 09 16:35 EDT
Earnings Season Holds Stocks and Forex Higher: The lowly estimates, and lower downgraded numbers from Q1, are allowing companies to more easily hit their earnings estimates than many had thought possible, and add in a timely upgrade and we soon have an outlook that is capable of swinging stocks out of their selling mode. All may not be rosy in the garden, but it does not seem as bad as the picture of expectancy had been painted.
We are going through a swing change, and one that has reversed stock selling, but not as yet impacted currency and oil markets to the same degree. The only forex pair to move heavily has been cad, but as we know, that can reverse more quickly than any other pair. Unless the majors break, and make a move to catch up, it could be cad doing the reversing of recent moves to get back aligned.