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Forex Signals Jan 15: The TSMC, Goldman Sachs, Morgan Stanley, BlackRock Earnings Preview
With TSMC, Goldman Sachs, Morgan Stanley, and BlackRock in the limelight, markets are anticipating a heavyweight earnings afternoon.
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Last updated: Thursday, January 15, 2026
Quick overview
- Markets are cautious ahead of major earnings reports from TSMC, Goldman Sachs, Morgan Stanley, and BlackRock.
- President Trump signed a semiconductor tariff proclamation, imposing a 25% tariff on select advanced computing chips, reviving trade tensions.
- Gold and silver prices reached record highs due to safe-haven demand, while oil prices fell sharply amid rising gasoline inventories.
- BitMine Immersion Technologies reported a significant net loss driven by digital asset volatility, highlighting the company's exposure to crypto market fluctuations.
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MARKETS TREND
With TSMC, Goldman Sachs, Morgan Stanley, and BlackRock in the limelight, markets are anticipating a heavyweight earnings afternoon.
Markets React to Policy Uncertainty
Markets opened cautiously as investors awaited a potential Supreme Court ruling on tariffs. Stocks initially slid on the uncertainty, but a relief bounce followed when no decision was issued. The rebound proved short-lived, however, with selling pressure returning later in the session. The S&P 500 fell more than 1% at its intraday lows, dragged down by megacap technology stocks and financials.
Trump Tariff Move Rekindles Chip Tensions
Later in the day, President Trump signed a semiconductor tariff proclamation citing national security concerns. The measure imposes a 25% tariff on select advanced computing chips, including Nvidia’s H200 and AMD’s MI325X. Targeted exemptions were included for U.S. technology supply chains and imports tied to domestic buildout efforts, helping limit broader disruption but reviving trade-related anxiety in the chip sector.
Commodities Diverge Sharply
Safe-haven demand pushed gold and silver to fresh record highs, with geopolitical risks around Iran and potential U.S. involvement acting as catalysts.
Oil markets moved in the opposite direction. A second consecutive surge in U.S. gasoline inventories, combined with comments from President Trump suggesting de-escalation in Iran, triggered heavy selling. WTI crude fell more than $3, sliding below the $60 level.
BMNR Earnings Highlight Crypto Exposure
Against this volatile backdrop, BitMine Immersion Technologies (BMNR) reported quarterly results marked by extreme digital-asset swings. The company posted a net loss of $5.2 billion, driven primarily by a $5.25 billion unrealized loss on digital assets. Revenue rose sharply, climbing 91% to $2.3 million. As of November 30, BitMine reported $10.6 billion in digital assets and $888 million in cash and equivalents, underscoring both its scale and sensitivity to crypto price moves.
Key Market Events to Watch Today:
Today’s earnings slate spans semiconductors and Wall Street heavyweights, making guidance and forward-looking commentary just as important as headline numbers. Results could set the tone for both risk appetite and sector leadership in the days ahead.
Taiwan Semiconductor Manufacturing Company (TSM)
- Earnings: Q4 2025 results
- Timing: Before Market Open (BMO)
- EPS estimate: $2.98
What to watch:
- Chip and high-performance computing demand
- Advanced node utilization (3nm and 5nm)
- Outlook for 2026 capex and customer orders
- Market sensitivity: High – TSM’s guidance often sets the tone for the broader semiconductor sector.
The Goldman Sachs Group (GS)
- Earnings: Q4 2025 results
- Timing: BMO
- EPS estimate: $11.65
What to watch:
- Investment banking fees and deal activity
- Trading revenues amid volatile markets
- Expense control and compensation trends
- Market sensitivity: High – results may signal whether capital markets activity is stabilizing.
Morgan Stanley (MS)
- Earnings: Q4 2025 results
- Timing: BMO
- EPS estimate: $2.45
What to watch:
- Wealth management inflows and margins
- Institutional securities performance
- Client risk appetite and trading volumes
- Market sensitivity: Medium to high – often viewed as a barometer for investor confidence.
BlackRock (BLK)
- Earnings: Q4 2025 results
- Timing: BMO
- EPS estimate: $12.21
What to watch:
- Assets under management (AUM) trends
- ETF inflows, especially iShares products
- Commentary on market flows and asset allocation
- Market sensitivity: Medium – guidance can influence sentiment across asset managers.
Gold Pushes Toward $5,000
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 $4,500K.
USD/JPY Nears 160
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
Bitcoin Approaches $100K
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 to $80K before finding support at the 100 weekly SMA (green). A rebound has followed this week, sending BTC near $100 which will be the first major text for Bitcoin buyers.
BTC/USD – Weekly Chart
Ethereum Faces the 100 Weekly 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 100 SMA (green) now.
ETH/USD – Weekly 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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