Market news & insights
Stay ahead of the markets with expert insights, news, and technical analysis to guide your trading decisions.
FX markets face a data-heavy period in the coming days, led by US inflation releases and late-week flash purchasing managers’ indexes (PMIs).
Regional data and central bank expectations in Japan, Europe, and Australia may influence cross-currency moves, particularly if outcomes differ from expectations.
Quick facts:
- US Personal Income and Outlays is a key inflation release this week, closely watched by policymakers.
- Flash PMIs across the US, Eurozone, Germany, and the UK offer a timely read on growth momentum.
- Australian data, including labour market indicators, remains important for AUD sensitivity and Reserve Bank of Australia (RBA) expectations.
- FX markets can be sensitive when data outcomes differ from expectations.
USDJPY
What to watch
US attention centres on inflation and activity data, particularly the Personal Income and Outlays report and the PCE price index, alongside late-week flash manufacturing and services PMIs.
These releases are closely followed by markets for their potential influence on rate expectations and USD sensitivity.
On the JPY side, Bank of Japan (BoJ) developments remain relevant, although US data has often been a key driver of recent moves.
Key releases and events
- Fri 23 Jan (US): US Personal Income and Outlays (including PCE inflation)
- Fri 23 Jan (US): Manufacturing and services PMI
Technical snapshot
USDJPY continues to trade above its rising 200-day moving average, with recent daily candles showing greater overlap and smaller ranges over recent weeks.
- Price has remained above the long-term average since late September, with higher swing lows still visible.
- Momentum appears to have moderated since early January, consistent with slowing follow-through rather than reversal.
- Daily ranges have narrowed compared with the October to November advance, again suggesting short-term consolidation.
EURUSD
What to watch
Eurozone flash PMIs and Germany producer price index (PPI) data provide insights into regional growth momentum and whether inflation pressures are building.
While these releases may influence immediate EUR sentiment, EURUSD continues to trade in the broader context of US data outcomes and global risk conditions.
Key releases and events
- Thu 22 Jan: Germany Producer Price Index (PPI)
- Fri 23 Jan: Eurozone / Germany flash PMIs (manufacturing and services)
Technical snapshot
EURUSD is trading above its rising 200-day moving average (daily chart), although price action since July suggests the market has become more range-bound rather than directional, following the advances in the first half of 2025.
- The broader upward structure has been in place since the beginning of 2025, although progress higher has stalled over recent months.
- Momentum readings have drifted toward neutral since late November, consistent with balanced conditions.
- Average daily range has continued to compress since July, consistent with a flattening of the trend.
GBPAUD
What to watch
Australian labour market data remains central for AUD sensitivity and RBA expectations. UK CPI is also due this week, which may contribute to cross volatility, particularly if it shifts expectations around the UK rates outlook.
Late-week PMI releases can also influence short-term direction, especially where they add to or challenge the current growth narrative.
Key releases and events
- Wed 21 Jan: UK CPI
- Thu 22 Jan: Australia Labour Force, Australia (December 2025)
- Fri 23 Jan: UK flash PMIs (manufacturing and services)
Technical snapshot
- GBPAUD continues to trade below its long-term moving average, with price action remaining in a downside direction since late November.
- The long-term average flattened through September and has turned lower since October, with the price remaining below and showing recent signs of a greater gap between the price and the moving average.
- Momentum has remained below neutral over recent months, with any retracements to the upside showing limited follow-through.
- Daily ranges have narrowed compared with earlier swings, suggesting a consistent but controlled drop in price rather than impulsive movement.
Bottom line
With multiple data releases due across key regions, FX markets may remain sensitive to outcomes that differ from expectations.
Existing technical conditions suggest that reactions may vary by pair, with some markets consolidating while others could retain recent directional characteristics.
USD continued to run higher in Monday’s session with US yields surging to highs not seen since 2007. Beats in both US manufacturing and employment data along with some hawkish Fed Speak supporting yields. Monday’s risk tone started off upbeat after the US Congress came to an agreement over the weekend to narrowly avoided a government shutdown, however this soured during the session seeing most equities finish in the red and supporting the USD with haven flows.
DXY surged through the psychological 107.00 level its highest print since November 2022 and having its biggest up day since February. EUR fell victim to USD strength despite a similar move higher in Euro Zone bond yields. EURUSD pushing below the key 1.05 support level from highs of 1.0591 earlier in the session.
EU Manufacturing and employment data were both in line with expectations, failing to offer the Euro any extra support. Some hawkish ECB talk from member de Guindos where he dismissed talks of rate cuts also not enough to lift the single currency. Technically EURUSD has no clear support from here until the next big figure at 1.04 though it has entered oversold territory on the daily RSI which may lend some temporary support.
USDJPY rose to highs of 149.90 on the surge in US treasury yields just short of the psychological 150 level where traders seem to be wary of pushing through, cautious of a BoJ intervention. Yen weakness came despite jawboning from the Japanese Finance minister and beats in manufacturing data. Yield differentials still the driving force in USDJPY as carry traders pile in, though with some caution at these levels.
AUS and NZD were sharply lower against the USD with risk sentiment souring as the session progressed, base metals also saw pressure, seeing the AUD underperform. NZD also saw notable underperformance but was not as soft as AUD, AUDNZD falling below the key 1.07 level. A big couple of days ahead for the two Antipodeans with the RBA meeting today and RBNZ tomorrow.
Today’s RBA meeting will be the first under Governor Bullock's stewardship with markets expecting the RBA to keep rates unchanged traders will be more interested in the accompanying statement where they will be eyeing any deviations that supports another hike by year-end. Todays Calendar:
US software and hardware manufacturer, Oracle Corporation (NYSE: ORCL), announced results for its fiscal 2024 second quarter after the market close on Monday. Company overview Founded: June 16, 1977 Headquarters: Austin, Texas, United States Number of employees: 164,000 (2023) Industry: Enterprise software, business software, cloud computing, computer hardware, consulting Key people: Larry Ellison (Executive Chairman & CTO), Jeff Henley (Vice Chairman), Safra Catz (CEO) The results Oracle reported revenue that fell short of analyst estimates of $12.941 billion (an increase of 5% year-over-year) for the quarter vs. $13.052 billion expected. Earnings per share (EPS) reported at $1.34 per share, above analyst estimate of $1.327 per share.
CEO commentary "Demand for our Cloud Infrastructure and Generative AI services is increasing at an astronomical rate. As a measure of that demand, Oracle's total Remaining Performance Obligations (RPO) climbed to over $65 billion—exceeding annual revenue. Our cloud businesses are now at nearly a $20 billion-dollar annual revenue run rate, and cloud services demand continues to grow at unprecedented levels.
Business is good and getting better," Safra Catz, CEO of the company highlighted the growth of the company in a statement to investors. Stock reaction Shares were up by 1.34% at the end of trading on Monday at $115.13 a share. The stock fell in the after-hours trading by around 9% after Oracle missed revenue estimates for the previous quarter.
Stock performance 1 month: 0.86% 3 months: -9.14% Year-to-date: +40.85% 1 year: +41.65% Oracle stock price targets Morgan Stanley: $107 Evercore ISI: $135 BMO Capital Markets: $130 Piper Sandler: $130 Guggenheim: $150 Berenberg Bank: $110 Mizuho: $150 HSBC: $144 JP Morgan: $100 Barclays: $147 UBS Group: $135 Citigroup: $138 Oracle Corporation is the 26th largest company in the world with a market cap of $315.22 billion. You can trade Oracle Corporation (NYSE: ORCL) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. GO Markets now offers pre-market and after-market trading on popular US Share CFDs.
Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time. Why trade during extended hours? Volatility never sleeps.
Trade over earnings releases as they happen outside of main trading hours Reduce your risk and hedge your existing positions ahead of a new trading day Extended trading hours on popular US stocks means extended opportunities Sources: Oracle Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
Salesforce Inc. (NYSE: CRM) reported its latest financial results after the closing bell in the US on Wednesday. World’s leading customer relationship management company topped both revenue and earnings per share estimates (EPS) for the third quarter of fiscal 2024. Company overview Founded: February 3, 1999 Headquarters: Salesforce Tower, San Francisco, California, United States Number of employees: 79,390 (2023) Industry: Cloud computing, Enterprise software, Consulting Key people: Marc Benioff (Chairman & CEO) The results The company reported revenue of $8.72 billion vs. $8.715 billion expected.
Revenue was up by 11% vs. the same period last year. EPS reported at $2.11 per share (up by 50.71% year-over-year) vs. $2.055 per share estimate. CEO commentary "We had another strong quarter of executing on our profitable growth plan we set in motion last year, delivering $8.7 billion in revenue and again raising our operating margin guidance for this fiscal year," Marc Benioff, CEO of Salesforce commented on the latest results. "We're now the third largest enterprise software company by revenue, the number one AI CRM and the number one enterprise apps company.
Most importantly, we're bringing CRM, data, AI and trust together in a single, integrated platform, leading our customers into a new era of incredible productivity and growth," Benioff concluded. Stock reaction Shares of Salesforce ended Thursday’s session up by 2.41% at $230.35 a share. The stock was up by 8% in the after-hours trading.
Stock performance 1 month: +12.40% 3 months: +6.58% Year-to-date: +72.86% 1 year: +43.03% Salesforce stock price targets RBC Capital: $240 Piper Sandler: $232 Macquarie: $250 Truist Financial: $275 Goldman Sachs: $340 Citigroup: $230 Salesforce Inc. is the 41st largest company in the world with a market cap of $224.35 billion. You can trade Salesforce Inc. (NYSE: CRM) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. GO Markets now offers pre-market and after-market trading on popular US Share CFDs.
Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time. Why trade during extended hours? Volatility never sleeps.
Trade over earnings releases as they happen outside of main trading hours Reduce your risk and hedge your existing positions ahead of a new trading day Extended trading hours on popular US stocks means extended opportunities Sources: Salesforce Inc., TradingView, MarketWatch, TipRanks, Benzinga, CompaniesMarketCap, FactSet
PDD Holdings Inc. (NASDAQ: PDD) reported Q3 financial results before the market open in the US on Tuesday. The Chinese company beat both revenue and earnings per share (EPS) estimates, sending the stock higher. Company overview Founded: 2015 Headquarters: Shanghai, China Number of employees: 12,992 (2022) Industry: Internet, Agriculture Key people: Lei Chen The results PDD reported revenue of $7.207 billion for the quarter (up by 94% year-over-year), well above the $5.982 billion expected.
EPS reported at $1.28 per share vs. $1.007 per share estimate. CEO commentary "We are dedicated to generating value through innovations, which forms the foundation of our high-quality development," Lei Chen, CEO of PDD Holdings said in the Q3 earnings report press release. "We continued to invest decisively in areas such as agritech, supply chain technology, and core R&D capabilities. Through these efforts, we aim to create our unique value" Chen highlighted where the company is looking to improve moving forward.
Stock reaction The latest results had a huge impact on the stock. Shares were up by over 18% on Tuesday at $139.84 a share – the highest level since March 2021. Stock performance 1 month: +37.67% 3 months: +49.78% Year-to-date: +71.21% 1 year: +78.02% PDD stock price targets HSBC: $125 Bank of America: $112 Credit Suisse: $140 Barclays: $115 JP Morgan: $120 PDD Holdings is the 58 th largest company in the world with a market cap of $185.31 billion.
You can trade PDD Holdings Inc. (NASDAQ: PDD) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. GO Markets now offers pre-market and after-market trading on popular US Share CFDs. Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time.
Why trade during extended hours? Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours Reduce your risk and hedge your existing positions ahead of a new trading day Extended trading hours on popular US stocks means extended opportunities Sources: PDD Holdings Inc., TradingView, MarketWatch, TipRanks, CompaniesMarketCap, Macrotrends
One of the most anticipated earnings releases in the calendar is here. NVIDIA Corporation (NASDAQ: NVDA) announced the latest results after the closing bell on Tuesday. Let’s see how one of the companies from the ''trillion club'' performed.
Company overview Founded: 5/4/1993 Headquarters: Santa Clara, California, United States Number of employees: 26,196 (2023) Industry: Computer hardware, computer software, cloud computing, semiconductors, artificial intelligence, GPUs Graphics cards Consumer electronics Video games Key people: Jensen Huang (President and CEO) The results NVIDIA reported revenue that beat Wall Street estimates at $18.12 billion for the third quarter fiscal 2024 vs. $16.12 billion expected. Revenues were up by 205% year-over-year. Earnings per share also beat estimates at $4.02 per share (up by 48.88% year-over-year) vs. $3.367 per share expected.
The company expects revenue of around $20 billion for the fourth quarter. CEO commentary "Our strong growth reflects the broad industry platform transition from general-purpose to accelerated computing and generative AI," Jensen Huang, CEO of NVIDIA said in a letter to investors. "Large language model startups, consumer internet companies and global cloud service providers were the first movers, and the next waves are starting to build. Nations and regional CSPs are investing in AI clouds to serve local demand, enterprise software companies are adding AI copilots and assistants to their platforms, and enterprises are creating custom AI to automate the world’s largest industries.
NVIDIA GPUs, CPUs, networking, AI foundry services and NVIDIA AI Enterprise software are all growth engines in full throttle. The era of generative AI is taking off," Huang highlighted how the world is adapting to and embracing AI. Stock reaction The stock was down by 0.92% at $499.44 a share before the results were announced.
Share price fell by around 1% in the after-hours trading as the market digested the latest results. Stock performance 1 month: +14.39% 3 months: +9.36% Year-to-date: +241.75% 1 year: +211.41% NVIDIA stock price targets Stifel: $600 Piper Sandler: $620 Wedbush: $600 Bernstein: $675 Keybanc: $650 Morgan Stanley: $600 Citigroup: $575 Truist Securities: $668 Jefferies: $610 TD Cowen: $600 NVIDIA Corporation is the 6th largest company in the world with a market cap of $1.233 trillion. You can trade NVIDIA Corporation (NASDAQ: NVDA) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
GO Markets now offers pre-market and after-market trading on popular US Share CFDs. Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time. Why trade during extended hours?
Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours Reduce your risk and hedge your existing positions ahead of a new trading day Extended trading hours on popular US stocks means extended opportunities Sources: NVIDIA Corporation, TradingView, MarketWatch, Benzinga, CompaniesMarketCap
Micron Technology Inc. (NASDAQ: MU) released first quarter of fiscal 2024 earnings results after the market close in the US on Wednesday. US semiconductor company reported revenue of $4.726 billion, which was above Wall Street analyst estimate of $4.581 billion. Earnings per share (EPS) reported loss per share of -$0.95 for the quarter vs. -$1.005 loss per share expected.
Company overview Founded: October 5, 1978 Headquarters: Boise, Idaho, United States Number of employees: Robert E. Switz (Chairman), Sanjay Mehrotra (President & CEO) Industry: Semiconductors Key people: 43,000 (2023) CEO commentary "Micron’s strong execution and pricing drove better-than-anticipated first quarter financial results," Sanjay Mehrotra, CEO of the company said in a press release. "We expect our business fundamentals to improve throughout 2024, with record industry TAM projected for calendar 2025. Our industry-leading High Bandwidth Memory for data center AI applications illustrates the strength of our technology and product roadmaps, and we are well positioned to capitalize on the immense opportunities artificial intelligence is fueling across end markets," Mehrotra looked at what’s ahead for Micron.
Stock reaction The stock was down by 4.24% at the end of trading on Wednesday at $78.69 a share. Shares rose by around 4% after Micron topped analyst estimates for the quarter. Stock performance 1 month: +2.13% 3 months: +13% Year-to-date: +57.54% 1 year: +53.82% Micron Technology stock price targets Rosenblatt Securities: $100 BMO Capital Markets: $90 TD Cowen: $100 Susquehanna: $112 Stifel Nicolaus: $76 Bank of America: $95 UBS Group: $90 Mizuho: $86 Citigroup: $88 Barclays: $85 Morgan Stanley: $71.50 JP Morgan: $80 Micron Technology Inc. is the 168th largest company in the world with a market cap of $86.86 billion.
You can trade Micron Technology Inc. (NASDAQ: MU) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD. GO Markets now offers pre-market and after-market trading on popular US Share CFDs. Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time.
Why trade during extended hours? Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours Reduce your risk and hedge your existing positions ahead of a new trading day Extended trading hours on popular US stocks means extended opportunities Sources: Micron Technology Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap