Ipek Ozkardeskaya
Swissquote Bank Ltd
European and US markets nosedived yesterday on the back of ‘good news is bad news’ and the futures hint at a bearish start to Thursday’s session. Growth on both sides of the Atlantic Ocean came in better than expected, but inflation in the Eurozone ticked higher than expected and gave a positive jolt to the euro. UK budget on the other hand went quite smoothly for the pound. The bad news were countered by the tamed Bank of England (BoE) easing expectations. The BoJ refrained from changing policy today.
For now, the US Dollar remains bid despite yesterday’s weakness, the 2-year yield spiked higher – as the Fed doves scaled back their Federal Reserve (Fed) cut bets. Investors continue to monitor the jobs data... and earnings!
Microsoft and Meta released their Q3 earnings yesterday, after the bell, and the results were good but the forecast and extra spending plans didn’t please, respectively. Apple and Amazon are due to announce earnings after the bell today.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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