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Daily Report: Dollar Followed Equities Lower on Disappointing EarningsGlobal equities tumbled on disappointing earning reports from US. DJIA closed down -181.12 pts, or -1.0% at 17919.29 while S&P 500 closed down -9.07 pts, or -0.43% at 2119.21. Asian equities followed with Nikkei trading down over -210 pts, or -1.0% at the time of writing while HK HSI is dropping over -300 pts, or -1.1%. Sentiments were weighed down by disappointing IBM and United Technologies earnings. Although Apple's earnings exceeded market expectations, its shares slumped -7% in after market trade as sales of iphone and ipad missed forecast whilst revenue guidance for the next quarter fell short of expectations. Dollar followed and weakened broadly and is now the second weakest major currency this week, next to Sterling. Elsewhere, gold stay soft has just lose 1100 handle again whole crude oil is struggling around 50. | |
Featured Technical Report | |
GBP/USD Daily OutlookDaily Pivots: (S1) 1.5527; (P) 1.5558; (R1) 1.5589; More... Intraday bias in GBP/USD remains neutral for the moment and outlook is unchanged. Another rise is in favor as long as 1.5450 minor support holds. Above 1.5674 will target 1.5929 resistance and break will extend the larger rise to 61.8% retracement of 1.7190 to 1.4565 at 1.6187. On the downside, below 1.5450 minor support will turn focus back to 1.5169 support instead. |
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