Forex Signals April 23: Intel, American Express, SAP, Lockheed, and Nokia Earnings Preview

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Thursday’s earnings schedule is dominated by Intel Corporation, American Express, SAP, Lockheed Martin, and Nokia.

Stock Market Rally

The stock market continued to rise on Wednesday, led by some of the most heavily shorted stocks, which can sometimes be a cautionary signal. Tech optimism also supported the broader upward move.

Oil Prices and Geopolitical Uncertainty

Markets rose despite renewed gains in oil prices, as uncertainty persisted over how long the latest ceasefire might hold. Investors appeared confident that a deal would eventually be reached, with speculation about potential talks on Friday or over the weekend.

Political Signals on Negotiations

President Trump suggested he would allow time for Iranian negotiators to present a proposal, with some reports indicating a 3–5 day window. However, the White House later clarified that no formal deadline had been set.

Currency and European Data

The euro weakened in line with higher oil prices and softer German growth data, although the slowdown was broadly anticipated.

Low Volatility Environment

Market volatility remained subdued due to limited economic data releases and a relatively quiet flow of developments on the Iran situation.

Earnings Calendar Highlights Thursday

Thursday’s earnings lineup spans semiconductors, finance, enterprise software, defense, and telecom, offering a broad read on the global economy. AI, consumer strength, and geopolitical spending are the dominant themes across sectors. Market reactions will likely hinge less on headline beats and more on forward guidance, particularly around growth sustainability and margins

Key Earnings Releases – Thursday

Intel Corporation (AMC)

• Q1 2026 earnings expected around $0.01 per share
• Market focus: data center recovery, AI chip strategy, and foundry progress
• Investors watching for updates on competitiveness vs peers in advanced chips
• Any guidance on margins and capital spending will be critical

American Express (BMO)

• EPS expected near $3.99 (prior: $3.42)
• Key drivers: consumer spending trends, credit quality, and travel demand
• Market attention on high-income customer resilience and loan growth
• Outlook on delinquencies and macro sensitivity remains crucial

SAP

• Recent EPS around $1.92 vs prior $1.51
• Focus on cloud transition momentum and enterprise AI integration
• Investors watching margins as the company shifts toward recurring revenue
• Growth in cloud backlog and enterprise demand will be key signals

Lockheed Martin (BMO)

• EPS expected near $6.70
• Key themes: defense spending trends, NATO demand, and contract pipeline
• Geopolitical tensions continue to support long-term outlook
• Investors focused on backlog growth and margin stability

Nokia (BMO)

• EPS expected around $0.05
• Focus on 5G infrastructure demand and network upgrades
• Competitive pressures and global telecom spending trends in focus
• Margins and cost efficiency remain key concerns

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 (red) held as support this week and buyers returned and pushed XAU above the $4,800 and above the 100 SMA (green).

USD/JPY Rebounds

USD/JPY – Daily Chart

Cryptocurrency Update

Bitcoin Approaches $80K

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 above $76K but returned to $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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