Look ahead: RBA minutes; Walmart; Home Depot; Barclays; Antofagasta
Minutes from the Reserve Bank of Australia’s recent meeting could prompt volatility for the Aussie in a week when traders also eye the latest FOMC minutes.
US retail giants Walmart and Home Deport update on margins and current consumer trends. Plus, Barclays, Antofagasta, and InterContinental report.
(AI Video Summary)
Upcoming RBA minutes
In this video, Angeline Ong talks about the important events happening on Tuesday, 20 February, that could impact trading. She starts by discussing the release of the Reserve Bank of Australia (RBA) minutes, which will affect those who trade the Australian dollar against the US dollar. The RBA has kept its cash rate steady this month and mentioned that higher interest rates are helping to control inflation. Ong then analyses the AUD/USD chart, pointing out that it has rebounded from a three-month low and is approaching a resistance level.
Upcoming FOMC minutes
Ong also mentions the upcoming release of the Federal Open Market Committee (FOMC) minutes, which are important for investors considering the US dollar. These minutes will provide insights into when US policymakers may start reducing interest rates. She notes that there are concerns about rising inflation in the US economy due to a recent higher than expected inflation number.
China low prime rates and Canada CPI
Moving on to China, Ong mentions that low prime rates can be expected as the market returns to normal after the Chinese New Year holiday. She also highlights Canada's upcoming consumer price index release, which will provide information about inflation in the country.
Upcoming big earnings reports
Ong then discusses some big earnings releases scheduled for the day, including Barclays, InterContinental Hotels Group, and Antofagasta. She provides a technical analysis of Barclays' chart, pointing out the important support and resistance levels to watch.
Walmart and Home Depot Q4 earnings
Lastly, Ong talks about the fourth-quarter earnings reports of major US retailers Walmart and Home Depot. Walmart's earnings are expected to be higher than last year, while Home Depot is expected to experience a decline. Investors will be interested in Home Depot's comments on consumer behavior and how consumers are reacting to high levels of inflation.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
