AI Juggernaut Nvidia’s highly anticipated Q2 2024 earnings report is just one week away, scheduled for release after the market closes on Thursday, 29 August, at 6.20 am (AEST).
Q2 performance expectations
Revenue: $28.544 billion
Revenue growth: 211.31% year-on-year (YoY)
Earnings per share (EPS): $0.64.
Highlights of the previous quarter
Expectations are...
Bitcoin finished higher overnight at $61,159 (3.46%), surging by more than $1800 post the release of dovish FOMC meeting minutes.
BTC is well placed to play some catch-up with the rally in other risk assets, particularly if it can reclaim the 200-day ma at $62,925. This would then set the stage for the move to extend towards trend channel resistance at $70k....
We believe that the DAX completed an Elliott Wave five rally from the October 14630 low to the mid-May 18892 high and then commenced a correction. The dip to the 17,024 low is viewed as part of a correction within an uptrend.
A sustained break above 18,580/00 would confirm the correction is complete and the uptrend has resumed, setting up a retest of the July...
Gold finished at $2514 (+0.39%) overnight, a fresh record high, ahead of tonight's revisions to US payrolls data, tomorrow's FOMC meeting minutes, and Fed Chair Powell's speech at Jackson Hole, all of which are anticipated to be dovish.
Despite its close just above trend channel resistance, we note bearish divergence evident via the RSI indicator. We need to see...
USDJPY finished lower o/n at 146.58 (-0.68%) after hitting an intraday low of 145.18 as the market positions for dovish outcomes from this week's FOMC meeting minutes and Fed Chair Powell's speech at Jackson Hole.
The recent 20-big-figure sell-off from the 161.94 July high represents a change in trend to the downside, and the pair would need to see a sustained...
With two weeks left in August, the ASX200 is down 1.50% MTD after being down a hefty 5.7%.
The ASX200’s rebound from the 7600/7500 support area which includes the 200 day ma highlights its importance as the downside level to watch going forward. While the focus has switched to the topside, a retest of the 7600/7500 support area before year end is a strong...
AUD/USD finished higher last week at .6669 (+1.38%), supported by improved risk sentiment, hawkish RBA rhetoric and solid jobs data. The rebound supports the idea that the AUD/USD based at the early August .6348 low, with last week's break above the 200-day ma at .6600c (now short term support ) opening the way for further rotation higher, possibly towards the top...
Bitcoin trades lower at $57,478 on concerns the US Government is preparing to sell the Bitcoins it seized during the Silk Road raid.
Bitcoin needs to reclaim the 200-day moving ma at $62,432 to stabilise and open up a test of multi-week trend channel resistance near $70k.
Aware that a sustained break below support at $53/50k would negate the bullish...
The US Dollar index, the DXY, closed higher overnight at 103.04 (+0.46%) following stronger-than-expected US jobs and retail sales data.
Provided the DXY remains above trendline support and recent lows 102.25/15ish, which it tested and rebounded from overnight, there is scope for further gains towards the 200-day MA near 104.00.
