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Forex Signals December 11: AVGO, Lululemon, Costco, Man United Earnings Preview
A wide range of market leaders, such as Broadcom, Costco, Lululemon, and Manchester United, will release their earnings, providing a comprehensive overview of the success of tech, retail, and international brands.
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Last updated: Thursday, December 11, 2025
Quick overview
- Major companies like Broadcom, Costco, Lululemon, and Manchester United are set to release earnings, offering insights into various sectors.
- The Federal Reserve cut rates by 25 basis points to 3.75%, signaling flexibility in future policy decisions, which impacted the U.S. dollar and equities.
- A split vote within the FOMC highlights differing views on monetary policy, with some members advocating for a more hawkish stance.
- Market reactions to upcoming earnings will depend on both the reported figures and the companies' forward guidance as they prepare for 2026.
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MARKETS TREND
A wide range of market leaders, such as Broadcom, Costco, Lululemon, and Manchester United, will release their earnings, providing a comprehensive overview of the success of tech, retail, and international brands.
Central Bank Decisions Shift Market Tone
The Bank Of Canada held rates steady at 2.25%, while the Federal Reserve delivered a widely anticipated 25-basis-point cut to 3.75% from 4%. Although markets had expected this to be the final cut for now, the Fed instead kept its options open, signaling flexibility rather than closure. The shift sent the U.S. dollar sharply lower and propelled equities toward fresh record highs. The Fed also announced upcoming bill purchases—quickly dubbed a “mini-QE” by analysts—adding an additional layer of support to liquidity expectations.
Fed Messaging And Market Interpretation
The rate move had been expected to carry a hawkish tone, yet Chair Powell delivered a more balanced message, stressing that the Fed is “well-positioned” on policy, inflation, labor markets, and growth. His remarks helped ease uncertainty over the near-term trajectory of policy tightening or easing.
A Split FOMC Vote Reflects Internal Divisions
The decision was supported by a 9–3 vote. Governors Goolsbee and Schmid dissented in favor of leaving rates unchanged, while Governor Miran pushed for a deeper 50-basis-point cut, underscoring the wide range of views within the committee.
Dot Plot Signals Subtle Hawkish Pushback
The updated dot plot revealed that four additional Fed officials preferred to hold rates steady, indicating a larger bloc of hawkish sentiment beneath the surface. While the full list is still pending, Dallas Fed President Logan and Cleveland Fed President Hammack—both known inflation hawks and upcoming 2026 FOMC voters—are strong candidates to be among those favoring no further easing.
Key Market Events to Watch Thursday
Thursday’s earnings slate delivers a cross-sector snapshot of consumer strength, tech momentum, and global brand performance. Market reaction will hinge not only on headline numbers but also on forward guidance as companies outline expectations heading into 2026.
Earnings Calendar – Thursday Highlights
Broadcom (AVGO) – Q4 2025, AMC
- Expected EPS: 1.87
- Investors will watch for updates on AI-driven semiconductor demand, networking solutions growth, and cloud infrastructure orders. Broadcom’s guidance tone may heavily influence broader chip-sector sentiment.
Costco (COST) – Q1 2026, AMC
- Expected EPS: 4.28
- Focus will be on U.S. membership renewal strength, foot-traffic trends, and early holiday-season inventory strategies. Any commentary on inflation-driven consumer behavior will be closely scrutinized.
Lululemon (LULU) – Q3 2025, AMC
- Expected EPS: 2.72
- Markets are looking for signs of steady demand in North America and Asia, margin performance amid rising costs, and updates on product expansion into men’s apparel and footwear.
Manchester United (MANU) – Q1 2026, BMO
- Expected EPS: 0.06
- Earnings may reflect commercial revenue growth, match-day performance, and early impacts of management and ownership transitions. Broadcasting revenue trends will also be in focus.
Gold Stays Above $4,200
Although demand for safe haven assets is still high, gold fell precipitously from record highs following the Fed’s most recent rate cut comments, as profit-taking was prompted by Powell’s cautious tone. Earlier this month, gold jumped above $4.3800 following the Federal Reserve’s announcement of a 25 basis point rate decrease. But the impetus soon waned, and prices dropped back to $4,004. The 20 daily SMA (gray) held as support last week and buyers returned and pushed XAU above $4,200K yesterday.
USD/JPY Returns Lower After the FOMC
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED.
USD/JPY – Daily Chart
Cryptocurrency Update
The 20 Daily SMA Turns Into Support for BTC
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down below $105,000 before finding support at the 200 daily SMA (purple) and recovering above $115,000 but then fell toward $100K again. However over the weekend BTC started to rebound and the price climbed but reversed lower after finding resistance at the 20 daily SMA (gray) which was broken yesterday though.
BTC/USD – Daily Chart
Ethereum Faces the 50 Daily SMA
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2.700 but the 200 weekly SMA held as support and we’re seeing a rebound but buyers face the 50 SMA (yellow) now.
ETH/USD – Daily Chart
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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