Forex: Forex Markets Look to Guage Risk on Earnings

DailyFX

THE TAKEAWAY: US Corporate earnings season kicks into full gear next week > Risky assets may find support on strong earnings, while the greenback may be in demand if results disappoint

Forex traders may look to the fourth quarter earnings season for US stocks as a gauge to measure risk appetite going into the new year of trading. Riskier assets like equities and higher yielding currencies have found support through the first few trading sessions of 2013. Traders are likely to either find reason to bolster risk appetite further or experience disappointment as earnings are scheduled to cross the wires.

Large financial service firms like Goldman Sachs Group and Bank of America are scheduled to release their results next week where a print below expectations may cause concern that the financial sector may come under pressure. Such an outcome carries the potential for investors to seek the safe haven status of the US dollar as a means to preserve capital if “risk” sells-off. However, robust figures may be taken as a sign of economic strength and is likely to stoke investor optimism thus advancing demand for risky assets like the high-yielding Australian and New Zealand dollars.

Date

Time

Company

Ticker

Period

Actual

Estimate

Tue

1/8/2013

Aft-mkt

Alcoa Inc

AA

Q4 2012

0.06

0.06

Thur

1/10/2013

21:00

American Express

AXP

Q4 2012

1.09

1.06

Fri

1/11/2013

13:00

Wells Fargo & Co

WFC

Q4 2012

0.895

Wed

1/16/2013

Bef-mkt

US Bancorp

USB

Q4 2012

0.749

1/16/2013

11:30

Bank of New York Mellon Corp/The

BK

Q4 2012

0.542

1/16/2013

12:00

JPMorgan Chase & Co

JPM

Q4 2012

1.225

1/16/2013

12:30

Goldman Sachs Group Inc/The

GS

Q4 2012

3.51

1/16/2013

eBay Inc

EBAY

Q4 2012

0.691

Thur

1/17/2013

Bef-mkt

BlackRock Inc

BLK

Q4 2012

3.678

1/17/2013

Bef-mkt

BB&T Corp

BBT

Q4 2012

0.706

1/17/2013

Bef-mkt

UnitedHealth Group Inc

UNH

Q4 2012

1.196

1/17/2013

11:30

Fifth Third Bancorp

FITB

Q4 2012

0.42

1/17/2013

12:00

Bank of America Corp

BAC

Q4 2012

0.163

1/17/2013

13:00

Citigroup Inc

C

Q4 2012

0.984

1/17/2013

21:05

Capital One Financial Corp

COF

Q4 2012

1.628

1/17/2013

Aft-mkt

American Express Co

AXP

Q4 2012

1.059

1/17/2013

Aft-mkt

Intel Corp

INTC

Q4 2012

0.456

Fri

1/18/2013

Morgan Stanley

MS

Q4 2012

0.27

1/18/2013

Consolidated Edison Inc

ED

Q4 2012

0.741

1/18/2013

Freeport-McMoRan Copper & Gold Inc

FCX

Q4 2012

0.789

1/18/2013

General Electric Co

GE

Q4 2012

0.431

1/18/2013

State Street Corp

STT

Q4 2012

1.007

Tue

1/22/2013

12:30

Verizon Communications Inc

VZ

Q4 2012

0.579

1/22/2013

20:30

Texas Instruments Inc

TXN

Q4 2012

0.072

1/22/2013

Aft-mkt

Google Inc

GOOG

Q4 2012

10.633

1/22/2013

Aft-mkt

International Business Machines Corp

IBM

Q4 2012

5.255

1/22/2013

Johnson & Johnson

JNJ

Q4 2012

1.173

Wed

1/23/2013

Bef-mkt

McDonald's Corp

MCD

Q4 2012

1.331

1/23/2013

Aft-mkt

Altera Corp

ALTR

Q4 2012

0.392

1/23/2013

Amgen Inc

AMGN

Q4 2012

1.485

1/23/2013

Apple Inc

AAPL

Q1 2013

13.348

Thur

1/24/2013

Aft-mkt

Microsoft Corp

MSFT

Q2 2013

0.765

1/24/2013

Lockheed Martin Corp

LMT

Q4 2012

1.78

1/24/2013

Bristol-Myers Squibb Co

BMY

Q4 2012

0.435

1/24/2013

Starbucks Corp

SBUX

Q1 2013

0.572

1/24/2013

Union Pacific Corp

UNP

Q4 2012

2.174

Fri

1/25/2013

Bef-mkt

Procter & Gamble Co/The

PG

Q2 2013

1.105

1/25/2013

ConocoPhillips

COP

Q4 2012

1.427

1/25/2013

Netflix Inc

NFLX

Q4 2012

-0.121

1/25/2013

Chevron Corp

CVX

Q4 2012

2.993

1/25/2013

United Technologies Corp

UTX

Q4 2012

1.03

1/25/2013

Halliburton Co

HAL

Q4 2012

0.61

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