Forex Signals March 31: Nike, McCormick MKC, Beyond Meat BYND Earnings Preview Today

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Nike, Inc., McCormick & Company, and Beyond Meat lead Tuesday’s earnings, which offer crucial insights into consumer trends and demand conditions.

Markets turned volatile after Donald Trump signaled progress in Iran negotiations while simultaneously warning of potential escalation if a deal is not reached.

Diplomacy Mixed with Escalation Threats

President Trump stated that the United States is engaged in serious negotiations with what he described as a more reasonable Iranian regime, suggesting that progress has been made and a deal is increasingly likely. However, the message was paired with a firm warning: if an agreement is not reached soon—and if the Strait of Hormuz remains under threat—the U.S. could escalate by targeting critical Iranian infrastructure.

Potential targets mentioned included power plants, oil facilities, export hubs such as Kharg Island, and even water infrastructure. This dual approach reflects a clear “carrot and stick” strategy, with a looming deadline as the current ceasefire is set to expire on April 6.

Markets React, Then Reverse

Initial market reaction was positive. Equities moved higher and oil prices pulled back from earlier highs, with WTI crude briefly dipping to $99.43. The S&P 500 gained as much as 58 points intraday, while the Nasdaq Composite climbed over 190 points.

However, sentiment quickly shifted. Oil prices rebounded, erasing earlier declines, which in turn pressured equities lower into the afternoon. The reversal highlighted how fragile confidence remains, with markets highly sensitive to geopolitical developments.

Rising Tensions Add to Volatility

Further pressure came from reports that Israel proposed targeting Iran’s energy infrastructure as a way to accelerate regime change. The strategy, if pursued, carries significant risks, particularly the potential for retaliation against regional energy assets.

Despite the heightened rhetoric, White House Press Secretary Karoline Leavitt emphasized that behind-the-scenes negotiations are progressing constructively, attempting to reassure markets that diplomacy remains active.

Federal Reserve Maintains Cautious Tone

Adding another layer to market dynamics, Jerome Powell reiterated that monetary policy is well-positioned to remain patient. He emphasized that the Federal Reserve will continue to monitor inflation and economic conditions closely while maintaining its commitment to the 2% inflation target.

Powell acknowledged that tariffs could temporarily lift inflation by 0.5% to 1.0%, but noted that long-term inflation expectations remain well anchored. He also expressed cautious optimism about the economic outlook, supported by productivity gains from artificial intelligence.

Later in the session, John Williams reinforced a “higher-for-longer” stance, warning that geopolitical tensions and tariffs could push inflation higher in the near term while posing risks to growth.

Earnings Calendar Highlights (Tuesday)

Tuesday’s earnings lineup provides a broad read across different segments of the consumer economy—from discretionary spending with Nike, to staples through McCormick, and high-risk growth via Beyond Meat.

NIKE, Inc. (NKE) – Q3 2026 (After Market Close)

• Expected EPS: $0.28
• Market Cap: ~$75.8B

Key Focus Areas:

• Global demand trends, especially in North America and China
• Inventory normalization and margin recovery
• Direct-to-consumer (DTC) strategy performance

What to Watch:

• Any signs of slowing consumer spending
• Updates on pricing power and promotional activity
• Currency headwinds impacting international sales

McCormick & Company (MKC) – Q1 2026 (Before Market Open)

• Expected EPS: $0.59
• Market Cap: ~$14.4B

Key Focus Areas:

• Pricing vs volume trends in a high-cost environment
• Input cost pressures (spices, logistics, packaging)
• Demand resilience in consumer staples

What to Watch:

• Ability to maintain margins despite inflation
• Strength in international markets
• Guidance on cost pressures and pricing strategy

Beyond Meat (BYND) – Q4 2025 (After Market Close)

• Expected EPS: -$0.10
• Market Cap: ~$276M

Key Focus Areas:

• Revenue stabilization after prolonged declines
• Cost-cutting efforts and path toward profitability
• Demand trends in plant-based alternatives

What to Watch:

• Cash burn and liquidity position
• Retail vs foodservice performance
• Any strategic shifts or restructuring updates

The results could offer important signals on consumer health, pricing power, and margin resilience in the current macro environment. Strong guidance may help stabilize sentiment, but any signs of weakening demand or margin pressure could reinforce broader market caution.

Gold Rebounds Off the 200 SMA

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 $4,380 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 20o daily SMA (purple) held as support this week and buyers returned and pushed XAU above the $4,500 and above the 100 SMA (gray).

USD/JPY Rebounds

USD/JPY – Daily Chart

Cryptocurrency Update

Bitcoin Slips Below the 50 SMA

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 SMA (purple) stands and rebounded to $74K but returned below $70K again.

BTC/USD – Daily Chart

Ethereum Returns to $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

ABOUT THE AUTHOR See More

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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