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Forex Signals Brief June 25: Darden, McCormick, CMC and BlackBerry Earnings Preview for Thursday
Key earnings from Darden Restaurants, Inc., McCormick & Company, Incorporated, Commercial Metals Company and BlackBerry will offer insight into consumer demand, pricing power, and industrial activity trends.
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Last updated: Wednesday, June 24, 2026
Quick overview
- Key earnings reports from Darden Restaurants, McCormick & Company, Commercial Metals, and BlackBerry will provide insights into consumer demand and industrial activity trends.
- The U.S. dollar continues to strengthen as investors adopt a risk-off approach, favoring safe-haven assets amid expectations of a tighter Federal Reserve policy.
- U.S. equity markets showed mixed results, with the Dow Jones rising while the S&P 500 and Nasdaq Composite struggled below key technical levels.
- Micron Technology reported strong earnings, leading to a post-market rally, although its stock remains below recent highs due to ongoing volatility.
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MARKETS TREND
Key earnings from Darden Restaurants, Inc., McCormick & Company, Incorporated, Commercial Metals Company and BlackBerry will offer insight into consumer demand, pricing power, and industrial activity trends.
Dollar Strength Persists as Risk Appetite Weakens
The U.S. dollar extended its broad-based rally as markets remained firmly in a risk-off environment, with investors continuing to favour the greenback amid rising expectations that the Federal Reserve could maintain a tighter policy stance into 2026. This outlook has kept pressure on risk-sensitive assets and reinforced defensive positioning across global markets.
Commodity-linked and risk-on currencies were among the weakest performers, with the Australian dollar, New Zealand dollar, and Canadian dollar all under pressure. In contrast, traditional safe havens such as the Japanese yen held relatively steady, reflecting continued demand for defensive currency exposure.
At the same time, key alternative assets also moved lower, with gold, silver, crude oil, and Bitcoin all under notable selling pressure as investors unwound positions used to hedge geopolitical and inflation risks.
Equities Mixed as Indices Drift Below Key Technical Levels
U.S. equity markets closed in a mixed pattern, with the Dow Jones Industrial Average finishing higher while both the S&P 500 and Nasdaq Composite maintained a weaker tone. Broader indices remain under pressure after falling below their 100-hour and 200-hour moving averages, signalling deteriorating short-term momentum.
The S&P 500 is now trading roughly 80 points below its 100-hour moving average at 7,444.93, suggesting sellers continue to maintain control. The Nasdaq Composite shows a wider gap, trading around 580 points below its 100-hour moving average at 26,053, reinforcing the depth of recent downside pressure.
Micron Surges Post-Earnings but Remains Below Recent Peak
After the close, Micron Technology, Inc. delivered a strong earnings beat on both revenue and earnings per share. EPS came in at $25.11 versus expectations of $20.78, while revenue reached $41.46 billion compared to estimates of $35.85 billion.
The results triggered a sharp post-market rally, with shares rising around 7.3% to approximately $1,124.50. Despite the gain, the stock remains below its recent all-time high of $1,213.56 reached earlier in the week, reflecting continued volatility and profit-taking following recent record levels.
Earnings Calendar Highlight Today
Today’s earnings slate provides a mixed snapshot of the economy, spanning defensive consumer staples, discretionary dining, and industrial metals. Together, results from Darden, McCormick, and Commercial Metals will help clarify whether consumer spending remains resilient and whether industrial demand is stabilizing or weakening further. In a market environment still sensitive to interest rate expectations and demand uncertainty, guidance commentary may matter as much as headline earnings.
Darden Restaurants, Inc.
- Q4 2026 Earnings Announcement (Before Market Open)
- Expected EPS: 3.64
- Market Cap: 24.45B
- Key Focus: Restaurant traffic trends, pricing power, and margin resilience in a mixed consumer environment
- Investor Attention: Olive Garden and LongHorn Steakhouse performance amid shifting discretionary spending
McCormick & Company, Incorporated
- Q2 2026 Earnings Announcement (Before Market Open)
- Expected EPS: 0.70
- Market Cap: 12.8B
- Key Focus: Pricing strategy, input cost pressures, and global demand stability for consumer staples
- Investor Attention: Ability to maintain margins amid persistent inflation and slower volume growth
Commercial Metals Company
- Q3 2026 Earnings Announcement (Before Market Open)
- Expected EPS: 1.73
- Market Cap: 7.9B
- Key Focus: Construction demand, steel pricing cycles, and infrastructure-driven order flow
- Investor Attention: Sensitivity to industrial slowdown risks and commodity price volatility
🔹 BlackBerry Limited (BB) — Q1 2027 Earnings (BMO)
- Cybersecurity and software-focused legacy tech firm reporting before market open
- QNX automotive software and cybersecurity divisions under close review
- Revenue diversification away from legacy handset roots remains ongoing theme
- Investors focused on enterprise software transition progress
- Market cap: ~$4.91B
- Any guidance on embedded systems demand will be closely watched
Gold Returns Slips Toward $4,500
Gold prices experienced a volatile trading week, ultimately finishing significantly lower after an initially strong rally lost momentum. The precious metal climbed above $4,300 early in the week but later reversed sharply, ending nearly $100 below its recent highs as investors reassessed the outlook for interest rates and global risk sentiment.
The decline was largely driven by a stronger U.S. dollar, rising Treasury yields, and reduced demand for defensive assets following positive geopolitical developments in the Middle East. Despite the weakness, gold remains above the critical $4,000 support zone, which continues to define the longer-term bullish trend.
USD/JPY Extends Above 161
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
MAs Keeping Bitcoin Subdued
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 below $70K again.
BTC/USD – Daily Chart
Ethereum Returns Under $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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ABOUT THE AUTHOR
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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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