Walmart shares are trading at a 1.1% discount to a 52-week high of October 18, reflecting an uptrend since early November. Since the beginning of the year, the emitter's quotes strengthened by 28%. On November 14, before the market opens, the company will report for Q3 2019. The Wall Street forecasts profit growth of 0.93% (YoY) to USD 1.09 with revenue growth of 3.28% (YoY) to USD 128.99 billion.
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15.11.2019 - 09.11.2019
Verizon shares fall within the correction from a 52-week high of November 1, losing more than 3% in value. At the moment, the issuer's quotes are trading at the month’s minimum. The company previously reported for the third quarter of 2019 with results above Wall Street's expectations. Revenue rose 0.9% YoY to $32.9 billion, earnings per share increased 2% YoY to $1.25.
At the beginning of November, the decline within the downward trend was replaced by a wide lateral consolidation, and today the pair began to grow rapidly after the decision of the RBNZ to keep the key interest rate at 1% (despite forecasts of a decrease to 0.75%).
On a 4-hour chart, the price reversed at 1445.50 (0.0% correction) and began to grow, breaking through 1461.50 (23.6% correction). Further strengthening is possible to 1471.60 (correction 38.2%) and 1487.60 (correction 61.8%). However, in order to achieve the levels, the price will have to break through the downward fan. In case of a reverse breakdown below the level of 1461.50, it may return to the level of 1445.50.
This week, the quotes of the XRP coin, following the rest of the cryptocurrency market, were corrected downwards and reached the level of 0.2685. The factors that affect it negatively remain the industry’s opposition from the state regulator and the likely launch of new state digital assets.
At 12:00 (GMT+2), EU data on the volume of industrial production for September will be published. The indicator reflect the level of change in the volume of industrial production and utilities in the country. The calculation of the indicator takes into account the manufacturing and mining industries, as well as the electric power industry. It is expected that production in September will decrease by 0.3% MoM and by 2.3% YoY. The implementation of the forecast may put pressure on the euro.
At 11:30 (GMT+2), data on the consumer price index in the UK for October will be released. It is the main indicator of inflation in the country and determines the change in the level of retail prices for a certain “basket” of goods and services: food, transportation, utilities, healthcare and so on. On a monthly basis, the consumer price index is expected to show deflation at –0.1%, while on an annualized basis it will slow down growth from 1.7% to 1.6%. Realization of the forecast may put pressure on the pound.
The Nasdaq index is slightly reduced. The closest support level is 8198.3 but the uptrend is still in force.
USD showed ambiguous dynamics against JPY on Tuesday, closing with a slight “bearish” margin. Moderate support for the Japanese currency is still provided by the uncertain situation surrounding the conclusion of a preliminary trade deal between the United States and China.
Due to the celebration of Veterans Day in the US, USD could not contain the volatile fluctuations of GBP. A sharp increase of more than 1000 points due to the opposition’s announcement of support for early elections almost completely recouped after the poor employment data publication next day. The unemployment rate was expected to reach 3.3% but it rose to 3.4%.