Apple Inc reported a strong fiscal third-quarter earnings on Tuesday and signaled its upcoming 10th-anniversary phone. Stocks of the technology giant surged by 6 percent to new record highs in after-hours trading to $159.10 as the company reported a better-than-expected iPhone sales, revenue and earnings per share. Its quarterly revenues grew by 7 percent year-on-year to $45.4 billion, thanks to its iPhone and new iPad Pro sales. The company is expected to release new and updated iPhones in September. Meanwhile, Tesla Inc. releases its second quarter earnings report today for the month ending June 2017.
The Dow Jones Industrial Average reached a new milestone and closed its session at a new all-time high of 22,000 points, for the first time ever. Shares of Boeing and Goldman Sachs contributed mostly to this gain. Today, the U.K. is set to release its Construction PMI for July at 08:30 GMT, while the U.S. ADP Nonfarm Employment Change for July is due at 12:15 GMT. The British government published plans for a bill in a bid to impose non-UN sanctions against specific countries through EU laws after Brexit.
Yesterday, the Reserve Bank of Australia stated that it will keep its cash rate on hold at a record low of 1.5 percent, for the eleventh consecutive month. The bank did not provide much information on when it will allow rates to rise. The Australian dollar dipped on the foreign exchange market today despite strong figures of Building Approvals released earlier today. Elsewhere, Asian shares were seen mostly higher after Apple’s earnings report.
The EUR/GBP pair was recently quoted at a record low at the 0.89268 level around 14:00 UTC in Tuesday’s session. Today, the asset started off on a bearish note at 00:00 UTC, however, it started picking up some heights as from 02:00 UTC and is expected to experience a change in trend at 07:00 UTC. Economic events due for today can also impact trend of this currency pair on the forex market. The FX/CFD tool can be used to trade this asset.
After reaching a record high of $52.81 a barrel on Tuesday, the commodity immediately started tumbling from the very next hour. Its lowest level for yesterday was at $51.07 a barrel around 15:00 UTC. Crude oil is seen much volatile in today’s early trading session and it could start to trade below the $50 level if it drops on the market. U.S. crude oil inventories due later during the day at 14:30 UTC is expected to affect the trend of the U.S. West Texas Intermediate, keep a close watch.
In yesterday’s early trading hours, the EUR/JPY pair was seen trading with much volatility on the forex market but it started picking up heights later during the day. Today, it initiated its session on a positive note at 00:00 UTC at 130.433 yen, to gain momentum till 03:00 UTC at 130.722 yen. It could follow an uptrend through today as the asset is seen hovering above the Ichimoku Cloud indicator. Ladder Trading can be used for this one today as the graph of this asset suggests a bullish trend.
It is highly recommended to trade on shares of Apple, Apple vs Alphabet and stock of Tesla Motors, which is set to report its earnings today.
In regards to today’s economic events, it is advisable to trade the EUR/GBP, GBP/USD, FTSE 100 index and Wall Street indices.
The AUD/USD, EUR/AUD and ASX index should not be overlooked.