Thursday starts on a relatively calm note, especially compared to the volatility seen earlier.
On the macro side, we already got job data from Australia, which came exactly in line with expectations. It didn’t move the Australian dollar much, but that’s not surprising. The currency has been strong recently and continues to hold that position.
From the UK, GDP came in above expectations. Normally, that would give a stronger boost to the British pound, but the reaction so far is quite modest. The move higher is there, just not very aggressive.
Looking ahead, the key macro release today will be US unemployment claims, expected at 213,000. It’s a standard Thursday release, but still worth watching.
Earnings season is picking up pace. Yesterday, results from Bank of America and Morgan Stanley came in better than expected and supported a positive close on stocks.
Today, attention shifts to Taiwan Semiconductor Manufacturing Company, Netflix, and PepsiCo, all set to report earnings. These names could drive sector-specific moves and influence broader sentiment.
And overall, the market is holding up very well.
Equity indices continue to push higher, with some even reaching new all-time highs. That’s quite notable, especially given the ongoing geopolitical uncertainty.
On the commodities side, things are much quieter. gold, silver, and oil are all stuck in short-term sideways movements. For now, traders are waiting for a breakout to define the next direction.
So overall, it’s a stable and positive session so far, with the focus gradually shifting toward earnings and away from macro surprises.