Dollar and Inflation, Reporting Season Start
Yesterday, US inflation data reminded markets that a tightening of the Fed's monetary policy is increasingly on the horizon. Over the past couple of weeks, amid comments from a number of FRB heads, the markets have decided that the previous inflation figures are a statistical anomaly that is temporary in nature. Well, yesterday's data showed that nothing is more permanent than temporary. 5.4% growth in consumer prices is the highest inflation rate in the last 13 years. But the markets believed and hoped that the rate of price growth would be less than 5%. But it didn't work out.
The reaction of the financial markets was quite natural. The US dollar was growing and the stock market was under pressure. In general, the dollar has excellent chances for growth by the end of this week and it is not too late to buy it. As, however, and selling on the US stock market.
It should be noted, however, that the start of the reporting season is great. JPMorgan Chase and Goldman Sachs easily beat analysts' forecasts. We wrote yesterday that strong trading and investment areas, coupled with write-off of reserves, are the key to a sharp increase in profits. That both banks demonstrated yesterday. PepsiCo, on the other hand, has become one of the beneficiaries of the opening of restaurants and the general return of the United States to the norm: the demand for the company's products has risen sharply, provoking significant improvements in both revenue and profit.
Today promises to be no less eventful in addition to the continuation of the reporting season (reported by Bank of America, Wells Fargo, CitiGroup, BlackRock), inflation statistics will be published from the UK, as well as the US (this time manufacturing inflation). In addition, the Bank of Canada will announce its decision on the parameters of monetary policy, and Jerome Powell will begin his two-day address with a semi-annual report on monetary policy in the US Congress.
Our basic trading ideas are unchanged: buying dollars, selling on the stock market, looking for points to sell oil.
The reaction of the financial markets was quite natural. The US dollar was growing and the stock market was under pressure. In general, the dollar has excellent chances for growth by the end of this week and it is not too late to buy it. As, however, and selling on the US stock market.
It should be noted, however, that the start of the reporting season is great. JPMorgan Chase and Goldman Sachs easily beat analysts' forecasts. We wrote yesterday that strong trading and investment areas, coupled with write-off of reserves, are the key to a sharp increase in profits. That both banks demonstrated yesterday. PepsiCo, on the other hand, has become one of the beneficiaries of the opening of restaurants and the general return of the United States to the norm: the demand for the company's products has risen sharply, provoking significant improvements in both revenue and profit.
Today promises to be no less eventful in addition to the continuation of the reporting season (reported by Bank of America, Wells Fargo, CitiGroup, BlackRock), inflation statistics will be published from the UK, as well as the US (this time manufacturing inflation). In addition, the Bank of Canada will announce its decision on the parameters of monetary policy, and Jerome Powell will begin his two-day address with a semi-annual report on monetary policy in the US Congress.
Our basic trading ideas are unchanged: buying dollars, selling on the stock market, looking for points to sell oil.
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