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15.11.2019 - 09.11.2019
At 04:45 (GMT+2) in the Federal Reserve Bank of San Francisco, the speech of the head of the Bank of Canada Stephen Poloz will begin. The comments officials of such a high rank traditionally enjoy the attention of investors, as they can clarify further monetary policy.
At 18:00 (GMT+2), the Energy Information Administration (EIA) will publish a weekly report on oil and petroleum product inventories. The report contains data on changes in the volume of crude oil, as well as gasoline and distillates in the United States. An increase in reserves tends to put pressure on oil prices. Oil reserves are expected to grow for the third consecutive week, this time by 1.600 million barrels. If the forecast proves correct, it may put pressure on the oil prices.
The US dollar today has ambiguous dynamics with the pound, weakens against the Japanese yen and strengthens against the euro.
Federal Reserve Chair Jerome Powell is to testify on the economic outlook and recent monetary policy actions before the Joint Economic Committee, in Washington DC at 17:00 (GMT+2). He may also share his vision of the current state of the US economy and future plans of the regulator. At the last Fed meeting, officials hinted at a pause in further cuts in rates.
Since the end of last week, Exxon Mobil shares have been declining and are currently trading at a premium of 5% to December 52-week high. In early November, the company reported for Q3 2019. Earnings per share fell by 53% (YoY) to USD 0.68, exceeding market expectations. Revenue fell by 15% (YoY) to USD 65.06 billion, below expectations of The Wall Street.
Cisco shares have added more than 5% since the October 10-month low and are currently trading at the monthly maximum. Yesterday, November 13, after the market closed, the company reported for the first quarter of fiscal 2020 with results higher than Wall Street's expectations. Revenue remained virtually unchanged at $13.16 billion, earnings per share increased 12% YoY to $0.84.
The S&P 500 broad spectrum index continues to trade within the upward channel with support and resistance levels at 3070.8 and 3101.0, respectively.