Binary Options Market Outlook – July 12 – 16
Spotlight:
Google earnings forecast:
Jul 15, 2010 Q2 2010 Earnings Conference Call – 4:30PM EDT
Jul 15, 2010 Q2 2010 Earnings Release – 4:00PM EDT
Google is set to release its Q2 earnings report later this week. In the meantime investors have been buying Google stock in anticipation that Google may again have positive earnings and reflecting that the stock may be oversold. Earlier Google passed through its 20 day moving average and resistance is expected ahead of its 50 day moving average.
U.S. Stocks: Earnings Season Begins July 9, 2010
Alcoa starts week that includes reports from Intel, Google, AMD, GE, Citi, Bank of America and Chase. The S&P500 index has been on the rise in anticipation of earnings season as investors are optimistic about the Q2 numbers.
Currencies: U.S. dollar will be tested by economic release data
American Retail Sales: Published on Wednesday at 12:30 GMT. This all-important consumer related figure was very disappointing last month – sales dropped by 1.2% and core retails sales by 1.1%. This hurt the dollar last month. A recovery now will support it.
American Unemployment Claims: Published on Thursday at 12:30 GMT. After a positive surprise last week, with a drop back to 454K. All in all, this tight range isn’t too good. Only a drop under 430K will give hope of a serious improvement in the job market. A rise above 480K will be worrying.
American CPI: Published on Friday at 12:30 GMT. A rise in consumer prices is the key for a rate hike, but this isn’t due soon. CPI dropped by 0.2% last month and is expected to tick up this time. Core CPI, which is closely watched by the Federal Reserve, rose by only 0.1% last month, and no big change is due this time.
Gold to hold $1,200 oz
Gold futures are widely expected to hold the $1,200 oz resistance. All this depends largely on earnings season in the U.S., as investors decide whether or not to move into riskier investments or to jump to safe havens.
Oil prices to consolidate with lower prices possible
Oil futures may follow the dollar index and U.S. earnings reports. Whether U.S. stocks continue higher as expected will affect the U.S. dollar as investors seek riskier assets.
