The US earnings season is upon us and the equities markets are not holding the all-time highs. Nasdaq traded into the H4 Ichimoku cloud where it found support, but the break of the recent swing lows is a worry for the bulls. Netflix & Johnson and Johnson are among those companies putting out earnings reports today as the Nasdaq and the rest of the world’s equity complex fall into a sea of red. Proctor & Gamble announced that net sales had risen by 5% year-on-year to $18.1 billion but with the number of Covid cases rising in the USA this relatively good economic news was overlooked.
European equities dropped heavily at the end of the London trading session today due to continued uncertainties with the coronavirus pandemic. Johnson & Johnson COVID-19 vaccine was issued a blow today by the European Medicines Agency (EMA) as they warned of a link to unusual blood clots and recommended the vaccine should come with a warning.
This after a review of 8 cases of thrombosis which had a combination of low platelet levels in the USA, after 7 million people have already been given the vaccine, seems to be a headline story that does not warrant much concern considering the number of deaths to the disease in America.
See real-time quotes provided by our partner.
The FTSE 100 was down 2% today as British American Tobacco share price plummeted nearly 8% on news that the US administration could force cigarettes to have a reduced amount of nicotine content, so as to make them less addictive. This could work in the tobacco makers’ favour in the short term as anyone addicted to nicotine, would probably buy more products to get the required hit. But the market was spooked and does not see the potential upside.
Cable fell throughout the London session and remains at the day’s lows into the middle of the US session. The ActivTrader sentiment index has the majority of traders bearish the pair, even after the impulsive move up yesterday. Today’s price action is in a tight range and looks to be corrective rather than a change in direction, however, if the price cannot take out yesterday’s highs, we could at least see 1.3920 acting as a significant swing low this week.
See real-time quotes provided by our partner.
See real-time quotes provided by our partner.
The US dollar index has remains supported at a previous balance area just above the 90.770 price level but has not had much movement and still needs to test the previous support level it broke through with conviction yesterday. Today’s price action could be just a pause while we await more news and if so, the 89.20 level would be my next target below.
See real-time quotes provided by our partner.
A comprehensive website for traders, both experienced and new! Checkout our content and learn how to invest and speculate in the markets using margin traded products. Our team of educators has extensive experience and is here to help. Enjoy!
© 2020 YouTrading UK - Leaders in Trader Training.
Cookie | Duration | Description |
---|---|---|
__cfduid | 1 month | The cookie is used by cdn services like CloudFare to identify individual clients behind a shared IP address and apply security settings on a per-client basis. It does not correspond to any user ID in the web application and does not store any personally identifiable information. |
_wpfuuid | 11 years | This cookie is used by the WPForms WordPress plugin. The cookie is used to allows the paid version of the plugin to connect entries by the same user and is used for some additional features like the Form Abandonment addon. |
cf_use_ob | This cookie is set by the provider Cloudflare content delivery network. This cookie is used for determining whether it should continue serving "Always Online" until the cookie expires. | |
cookielawinfo-checbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
Cookie | Duration | Description |
---|---|---|
_fbp | 3 months | This cookie is set by Facebook to deliver advertisement when they are on Facebook or a digital platform powered by Facebook advertising after visiting this website. |
fr | 3 months | The cookie is set by Facebook to show relevant advertisments to the users and measure and improve the advertisements. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin. |
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
Cookie | Duration | Description |
---|---|---|
_gat_UA-42160853-2 | 1 minute | No description |
cf_ob_info | No description | |
CONSENT | 16 years 8 months 3 days 6 hours 2 minutes | No description |