Facebook stock drops after earnings

“A business that makes nothing but money is a poor business.” – Henry Ford

 

 

HEADLINES

 

 

• Dollar Wavers Ahead of Central Bank Meetings in Europe, Japan, Canada
• Oil edges up to new multi-year highs on short supply
• Gold futures settle back below the key $1,800 mark
• S&P 500 hits record high on tech strength, earnings cheer
• Facebook’s Q3 results had a 'pretty thick silver lining,' says analyst
• BoC Preview: Progress has been made – TDS

 

 

FOREX

 

 

Dollar Wavers Ahead of Central Bank Meetings in Europe, Japan, Canada

 

The dollar inched higher against the safe-haven yen while easing a touch against riskier currencies on Tuesday as solid company earnings and a glimmer of improvement in U.S.-China trade ties lifted sentiment, while rates expectations weighed on the euro. China’s Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen held a video call which readouts from both sides suggested was at least not acrimonious.

 

 

COMMODITIES

 

 

Oil edges up to new multi-year highs on short supply

 

Oil prices edged up to fresh multi-year highs on Tuesday, supported by a global supply shortage and strong demand in the United States, the world's biggest consumer. That puts both global benchmarks on track for their highest closes since October 2014.

 

Gold futures settle back below the key $1,800 mark

 

Gold futures declined on Tuesday, settling below $1,800 an ounce a day after posting a finish above that price level for the first time since mid-September. Profit taking, along with a slight gain in the U.S. dollar and gold’s fall below the key $1,800 level, led to Tuesday’s gold-price selloff.

 

 

STOCKS

 

 

S&P 500 hits record high on tech strength, earnings cheer

 

Gains in Tesla, Nvidia and other heavyweight technology names helped the benchmark S&P 500 index scale a record high on Tuesday, while upbeat results from UPS and GE added to optimism around the third-quarter earnings season.

Tesla Inc rose 1%, extending a record run that helped the electric-car maker surpass $1 trillion in market value on Monday after landing its biggest-ever order from rental car company Hertz.

 

Facebook’s Q3 results had a 'pretty thick silver lining,' says analyst

 

Facebook (FB) shares took a hit Tuesday following news Monday that it’s seeing headwinds from Apple’s (AAPL) recent iOS privacy changes and waning interest among younger consumers. The news came after Facebook reported earnings that beat on profit but missed on revenue. While the company’s stock was down nearly 5% just before 2:30 p.m.

 

 

ANALYSIS

 

 

BoC Preview: Progress has been made – TDS

 

“We expect the BoC to argue that inflation is largely transitory, and to maintain its current forward guidance for the overnight rate. We also look for the BoC to announce that its QE program will transition to the reinvestment phase in November.”

“We like USDCAD higher into the BoC. While the stagflation theme has oddly benefited CAD, it's likely moved too far, too fast. CAD is trading at a 1-sigma premium on our dashboard and is the most overbought currency in the G10. We look for better selling levels ahead of the 1.2850 pivot point.”

 

 

CHART

 

 

Euro / Japanese yen – 4 hour Candlesticks

Source: GKFX Prime Metatrader 4

EUR/JPY has broken above a possible triangle. If the price moves above 132.65 it could confirm the new leg higher. - Prepared by Trading Writers*

 

 

CALENDAR

 

 

*Times in GMT

Source: FX Street Economic Calendar

 

 

SOURCE

 

 

https://www.fxstreet.com/economic-calendar
https://www.reuters.com/business/sp-dow-futures-hit-record-highs-investors-eye-tech-earnings-2021-10-26/
https://www.fxempire.com/news/article/dollar-wavers-ahead-of-central-bank-meetings-in-europe-japan-canada-792680
https://www.investing.com/news/commodities-news/oil-takes-breather-after-latest-charge-amid-tight-market-2654891
https://finance.yahoo.com/news/facebooks-q3-results-had-a-pretty-think-silver-lining-says-analyst-190158074.html