Hot Topics:
- DOLLAR – BUILDING A SIDEWAYS STRUCTURE BEFORE U.S. EMPLOYMENT DATA RELEASE.
- FAANG – APPLE, AMAZON AND ALPHABET CLOSE MIXED BEFORE QUARTER EARNINGS RELEASE.
- CRYPTOS – BTC CONTINUES THEIR SELL-OFF.
Main currencies daily performance.
DOLLAR – BUILDING A SIDEWAYS STRUCTURE BEFORE US EMPLOYMENT DATA RELEASE.
We are starting the second month of the year, and as usual, in the first week of every month, the market is expecting the employment data release. Today, the Bureau of Labour Statistics in the US will publish the unemployment rate. It is expected to remain unchanged at 4.1%, while Nonfarm Payrolls’ expected increase is to 184K.
The Index has returned to the past week’s lower values, building a sideways structure. We expect that the volatility generated by the data release could define the market direction.
FAANG – APPLE, AMAZON AND ALPHABET CLOSE MIXED BEFORE QUARTER EARNINGS RELEASE.
Alphabet <GOOG> has closed with an advance of 0.8% before the last quarter earnings release, where GOOG has reported an EPS of 9.7 ($/sh.) vs 9.98 ($/sh.) estimated, and a Revenue of 32.32B vs 31.87B expected. Amazon <AMZN> has closed the session with 2.65% of losses after the closing bell. AMZN reported an EPS of 3.75 ($/sh.) vs 1.85 ($/sh.) estimated, and a Revenue of 60.45B vs 59.83B expected. Finally, Apple <AAPL> also closed with losses (0.22%), the earnings reported was an EPS of 3.89 ($/sh.) vs 3.85 ($/sh.) estimated, and a Revenue of 88.3B vs 77.25B expected.
CRYPTOS – BTC CONTINUES THEIR SELL-OFF.
As we are forecasting from the Potential Dead Cat Bounce Pattern article, and as has been published yesterday in our Daily Abstract, the crypto-currency Bitcoin is making new lower lows; our vision is that BTC will reach the 8,000 level. BTCUSD falls to November 2017 levels. So far this year, Bitcoin has lost approximately 58.9%.
