Netflix (NFLX) will report its financial results for the last quarter of 2019

📣 Today, the US company Netflix (NFLX) will report its financial results for the last quarter of 2019. This report is important as the reporting period includes the weeks when competing services from Disney and Apple began to compete with Netflix.

✅Netflix earnings per share for the reporting period is expected to be $0.52 versus $0.30 a year earlier, revenue will increase from $4.2 billion to $5.5 billion, and reach audiences of 7,2 million users worldwide. The forecast, which will be published with the quarterly report, will be more important for the share price.

👉 The market has bull trend since the end of September. We have “Golden Cross”. The golden cross is a candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average. The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.

Netflix

Днес американската компания Netflix, която е доставчик на филми и сериали на основата на видео стрийминг ще отчита финансовите си резултати за последното тримесечие на 2019 г. Този отчет е важен, тъй като отчетният период включва седмиците, когато конкурентните услуги от Disney и Apple започнаха да се конкурират с Netflix.

Очаква се печалбата на Netflix на акция за отчетния период да бъде $0,52 срещу $0,30 година по-рано, приходите да се увеличат от $4,2 млрд. на $5,5 млрд., а обхватът на аудиторията да нарасне до 7,2 млн. потребители по целия свят. Но не тримесечният отчет, а прогнозата, която ще бъде публикувана с него ще има по-голямо значение за цената на акциите.

EUR/USD waiting

The euro did very little yesterday, and there is definitely a sense that this will likely remain the case until Friday’s data. Overnight a moderate risk-off tone has developed in the Asian time zone, as fears around the outbreak of the coronavirus have begun to impact markets. It remains to be seen whether this tone will persist into our session or grow into something more lasting. In any event, the likelihood of a big move in the Euro between now and Thursday seems low, even if other risk-correlated currencies move more noticeably.

This Friday’s flash PMI data will be important, as it will be the first such data since the UK election and the progress made in Dec between US and China. Perhaps it is too early still, but the market will be looking for any signs of light, particularly from beleaguered Germany. Prior to this event, this week will also see the ECB meet later this week as well as German ZEW data. Neither of these two events is likely to have a big impact, so it may be a bit of a waiting game for Friday.

The EUR/USD held 1.1080/90 once already earlier this month; we will see if it does again. If not, the next level to watch below is 1.1060/70 and 1.1035/45. On the topside 1.1165/75.

Four central bank meetings in G10 this week BoJ BoC Norges Bank and ECB

Week ahead: There are four central bank meetings in G10 this week: chronologically the BoJ, BoC, Norges Bank and ECB. The World Economic Forum in Davos starts tomorrow and runs to Friday. On the data front, there is nothing first‐tier in the US, but Dec CPI and Nov retail sales are due in Canada. In the UK, the Jan flash PMIs (Friday) are critical to the outcome of next week’s MPC meeting (GBP), but labour market data are pre-election so of less interest. The CME's BoE Watch tool now shows a 72% probability of a 25bps rate cut, up over 50% in less than 10 days following a series of weak economic data and dovish speak from the MPC. Flash PMIs are also due in the Eurozone. The Q4 earnings season continues in the US - 58 S&P 500 companies (including six Dow 30 components) are scheduled to report results for fourth quarter. Highlight will be Netflix, who is the first of the FAANGs to report this season. Also IBM Corp. (IBM), Johnson & Johnson (JNJ), Procter & Gamble (PG), Intel (INTC), and American Express (AXP).

The BoJ is universally expected to leave rates (policy rates and the 10yr yield target) unchanged overnight tonight. The accompanying Outlook Report will have to take on board a run of disappointing activity data recently and downward revisions to growth projections are possible. If Q4 GDP (mid‐February) is as weak as the monthly activity data are suggest, expect speculation on further BoJ easing at the March meeting to grow.

The economists are in line with the consensus for no change in BoC rates on Wednesday and OIS price only ~5% chance of a cut. Activity reports have been soft so far in Q4, prompting to lower Q4 GDP forecast to 0.7%, below previous 1.4% expectation and the BoC’s 1.3% October projection. Yet, Governor Poloz suggested there were some transitory factors at play and was not overly concerned in an appearance earlier this month.

Norges Bank announces rates on Thursday and the universal expectation is no change. This is a non‐MPR meeting so there will be little new information on the outlook.

Data released since the previous ECB meeting have been positive and consistent with the slightly more optimistic tone struck by Lagarde in December regarding the economic outlook. The expectation is that there will be no changes in policy or the tone of the press conference this month. The flash PMIs will be watched for evidence that the December improvement in services has been maintained.

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FOREX Daily Pivot Points for 21 January 2020

Forex Calendar-Economic Release for 21 January 2020