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No reaction to this by a noted Fed watcher… but if true Pres Trump better take his blood pressure meds for the Fed meeting
Apple – AAPL
The Market Rally Is Strong, This Would Send It Stratospheric
Apple and Amazon earnings normally steal the show. But the “will they won’t they” trade relationship between the U.S. and China is grabbing their limelight.
The Nasdaq Composite is now back above its April 2 levels, recovering from its losses after President Donald Trump’s reciprocal tariffs announcement spooked markets. The S&P 500 is just 1.2% off where it was a month ago after its winning streak extended to an eighth day Thursday.
Apple Outlines How It’s Shielding Itself From Trade War
Apple notched $95.4 billion in revenue for the March quarter with minimal tariff impact. But CEO Tim Cook said that a majority of current-quarter U.S. iPhone sales will come from India, which currently faces no tariffs on smartphones. The rest will come from China as the U.S. trade war continues.
· For the second quarter, Apple reported better-than-expected results, with adjusted earnings of $1.65 a share. iPhone revenue rose 2% from a year ago, to $46.8 billion. But Greater China revenue missed expectations by almost a billion dollars, down 2% from last year, to $16.0 billion.
· Apple said it expects June quarter revenue to grow low-to-mid single digits from last year, when revenue was $85.8 billion. At a 1% growth rate, Apple would have third-quarter revenue of $86.7 billion. At 6%, it would be $91.0 billion. The range would put it in line with Wall Street expectations at the midpoint.
EURUSD 4h
Resistances: 1.13550, 1.13750 & 1.14250
Supports: 1.13200, 1.13050 & 1.12650
As long as EUR ( in next 4h) holds above 1.13150, it will go for a test of resistance at 1.13750
Only below 1.13000 we can see test of supports – 1.12650
Close of this bar – right here – is going in favour of Higher
US OPEN
USD softer whilst US equity futures gain ahead of US NFP, AMZN/AAPL dip post-earnings
Good morning USA traders, hope your day is off to a great start! Here are the top 7 things you need to know for today’s market.t
7 Things You Need to Know
China is said to be conducting an assessment on US trade negotiations and urged the US to demonstrate sincerity for trade talks, while it urged the US to correct mistakes regarding tariffs and noted it is currently evaluating possible US trade talks.
US Secretary of State Rubio said the Chinese want to meet and talk, while he added those talks will come up soon and there’s a broader question about how much we should buy from China going forward.
Japanese Finance Minister Kato said Japan’s huge US Treasury holdings are among the tools it can wield in trade negotiations with the US but added that whether Japan wields that card is a different question.
European bourses are entirely in the green as the region returns from holiday; US equity futures gain, AMZN -2% & AAPL -2.7% pre-market.
USD’s recovery pauses for breath as markets brace for NFP, AUD outperforms.
Gilts outperform, EGBs largely unaffected by HICP, USTs digest trade updates & Kato’s remarks into NFP.
Crude is on the backfoot, whilst XAU and base metals benefit from the softer Dollar.
USDJPY 1 HOUR CHART – BACK BELLOW 145
As I noted with GOLD, I pay special attention when a pivotal (“magic”) level comes on the radar… USDJPY 145 is alone of my pivotal (“magic”) levels and the move back below has cooled the upside.
This level will now set the trading tone post-US jobs report… yesterday’s breakout zone was 143.89-144.19… only back below this area would put it back into a range to 142,50
XAUUSD 4 HOUR CHART – At a crucial level
As I noted, I pay special attention when a pivotal (“magic”) level comes on the radar… in this regard support just above 3200 has seen a bounce back to former support at 3260
Watch 3260 along with the trendline as firm moves above are needed to suggest the low is in place for now.
There is some divergence with GOLD up despite hope on the trade war front.
Using my platform as a HEATMAP shows…
.. the dollar trading softer on some signs of a thaw in U.S.-China tariff as markets look for any glimmer of hope . AUD, NZD and JPY outperforming vs the USD
GOLD up despite risk on mood
US stocks bounced from late day dip on Amazon and Apple earnings reports.
Next key focus is on the US jobs report. It seems inevitable that there will be some misses on thew downside in US data, not if but when.
USDJPY 4 HOUR CHART – Breakout time
Breakout through 143.89-144.19 and then 145+ was like slicing through Swiss cheese.
Now the hard part…
With next key level not until above 147, there are no obvious stops to go after… so 145 needs to become support to set the tone with a strong bid. Otherwise, upside will cool.
Stocks hit after the close following Amazon results…. looking at the numbers apparently there was some disappointment..
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