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Forex Signals Feb 24: Home Depot, Workday, Coca Cola, HP and BNS Earnings Preview Tuesday
Investors are keeping an eye on consumer demand, business spending, and credit patterns as The Home Depot, Inc., Workday, Inc., HP Inc., and
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Last updated: Tuesday, February 24, 2026
Quick overview
- The earnings calendar today features major companies like Home Depot, Workday, HP, and The Bank of Nova Scotia, with a focus on consumer demand and credit trends.
- The U.S. dollar showed mixed performance amid tariff developments and a risk-off market sentiment, while the Japanese yen gained as a safe-haven asset.
- U.S. equities closed sharply lower, with significant declines in major indices, reflecting investor caution ahead of earnings reports.
- Key earnings reports today will provide insights into consumer strength and business investment, with guidance expected to be particularly impactful.
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Investors are keeping an eye on consumer demand, business spending, and credit patterns as The Home Depot, Inc., Workday, Inc., HP Inc., and The Bank of Nova Scotia dominate today’s earnings docket.
Dollar Ended Monday Mixed as Tariff Headlines Dominate
The U.S. dollar was mixed to start the week, with price action driven largely by renewed tariff developments and a broader risk-off tone. “Uncertainty” and “confusion” were the defining themes for companies and countries alike.
President Trump raised the blanket tariff rate to 15% from 10% over the weekend and warned of even higher rates for countries challenging the recent Supreme Court decision. The move added another layer of unpredictability to global trade conditions.
Federal Reserve Governor Waller described the March FOMC decision as a “coin flip,” reinforcing the Fed’s data-dependent stance and adding to policy uncertainty.
The U.S. Dollar Index traded roughly flat, slipping -0.08%, though performance diverged across major currency pairs.
Yen Gains on Risk-Off Flows
The Japanese yen outperformed, benefiting from safe-haven demand as equity markets declined, particularly in technology and AI-related stocks.
Euro Supported by German Data
In Europe, the euro found support after stronger-than-expected German Ifo data. However, trade-related uncertainty remains elevated. ECB President Lagarde reiterated that policy decisions will continue to be made on a meeting-by-meeting basis and confirmed that completing her term remains her baseline.
U.S. Stocks Close Lower
U.S. equities finished sharply lower:
- Dow Jones Industrial Average: -821.91 points (-1.66%) at 48,804.06
- S&P 500: -71.76 points (-1.04%) at 6,837.75
- Nasdaq Composite: -258.80 points (-1.13%) at 22,627.27
Key Market Events to Watch Tuesday:
Today’s earnings span retail, enterprise software, consumer beverages, hardware and banking — offering a broad read on consumer strength, business investment and credit conditions. Guidance and forward commentary may prove more market-moving than headline EPS, particularly as investors assess growth durability in a more cautious macro environment.
🏠 Home Depot (BMO)
- Q4 2025 earnings before market open
- EPS expected: $3.04
- Market cap: $375.3B
Key focus areas:
- U.S. housing demand and renovation activity
- Professional contractor spending trends
- Margin resilience amid softer discretionary demand
- Investors will look for commentary on spring season demand and interest rate sensitivity
💼 Workday (AMC)
- Q4 2026 earnings after market close
- EPS expected: $2.33
- Market cap: $34.5B
Watch for:
- Subscription revenue growth
- Enterprise hiring trends
- AI integration progress and monetization
- Guidance will be critical given scrutiny on enterprise software budgets
🥤 Coca-Cola FEMSA (BMO)
- Q4 2025 earnings before market open
- EPS expected: $1.87
- Market cap: $22.38B
Focus on:
- Volume growth across Latin America
- FX impact and pricing power
- Consumer demand resilience in emerging markets
💻 HP Inc. (AMC)
- Q1 2026 earnings after market close
- EPS expected: $0.77
- Market cap: $17.15B
Key themes:
- PC shipment trends
- Commercial vs. consumer demand
- Margin stability amid pricing pressure
🏦 Bank of Nova Scotia (BMO)
- Q1 2026 earnings before market open
- EPS expected: $1.95
- Market cap: $93.68B
Investors will monitor:
- Loan growth and credit quality
- Net interest margin trends
- Exposure to Canadian housing and Latin America
Gold Resumes the March Again
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. In December, 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 the $5,000 mark for the first time, printing a fresh record high at $5,598 before retreating below $5,000. But buyers returned and XAU climbed above $5,000 again.
USD/JPY Returns Back Down
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. The price approached $160 but reversed after the BOJ meeting and fell 8 cents but found support at $152 at the 100 daily SMA (red) and rebounded above 156 but have reversed down again this week after the Japanese elections.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Returns Under $70K
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 followed, sending BTC near $100 is the first major text for Bitcoin buyers. However BTC returned lower and fell below $80K, breaking below the but the 100 weekly SMA (green) but the decline stopped at the $60K support where the 200 weekly SM A(purpe) stands and rebounded above $70K.
BTC/USD – Weekly Chart
Ethereum Slips Below $2,000
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 $2,000 but buyers returned n d pushed the price above $2K again.
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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