Forex Signals Brief for Apr 14: Will Earnings Season Derail Markets - Forex News by FX Leaders
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Forex Signals Brief for Apr 14: Will Earnings Season Derail Markets

Posted Tuesday, April 14, 2020 by
Rowan Crosby • 2 min read

US Market Wrap

Markets in the US put in a mixed start to the week as traders returned from the Easter break.

While equity markets such as the SPX weakened, it appears that investors are trying their best to look for the positive. Stocks have bounced back over the past two weeks, while the other risk-on assets such as the AUD/USD and NZD/USD are also seeing some upside.

At the same time, we are also seeing the USD falling while GOLD has once again broken through to new highs and is now above $1700.

The deal to cut oil production saw what was only a short-lived recovery in price, as WTI has once again slumped to $22.

Today’s Agenda

While there is economic data rolling out over the course of the week, we are going to start finding out in far more detail how big business is coping.

Earnings season is about to begin and for many companies, the numbers are not going to make for good reading.

Interestingly, the SEC has told companies not to be too worried about the accuracy of their forward guidance as the situation continues to evolve rapidly.

What is for sure though, a host of key names showing poor numbers, will almost certainly weigh on stock markest and filter through to other risk assets.

Forex Signal Update

The FX Leaders Team had two wins from two signals in what was a great session to start the week.

Make sure you follow our live signals as markets could get very active in the coming days.

GBP/USD – Active Signal

The GBP/USD has been pushing right back through the 1.2500 level and this will put some pressure on our stop. We have still got some room, but not as much as we might like.

GBP/USD
GBP/USD – 240min.

SPX – Watching

The SPX was a little soft overnight and as mentioned we have a busy few weeks ahead. The reality is that while price is pushing higher, we are still seeing only a 50/50 split of up/down days. Which suggests there is still a level of uncertainty around at the moment.

SPX
SPX – 240min.

Cryptocurrency Update

BTC once again made a failed push through the $7,000 level and that could make for a very key technical development.

For me, that is a failed break and a lower high. Now if price cannot break above that point on a second attempt, we are ripe for a breakdown.

BTC
BTC – 240min.
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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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