Deere misses🚜 Stocks fall📉 To Watch: Jackson Hole🏦 PCE/Inflation⚠️ EURUSD Parity?💶 Earning: Nvidia, Salesforce, Palo Alto🔐

FlowBank's hand-curated fresh financial news [header_noDither] 22.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_2188482005] Deere, the world’s largest agricultural machinery maker, cut its annual profit forecast and warned of ongoing supply-chain issues and rising production costs. Nevertheless, the smart farming company sees sales to remain robust in Asia, and North America. The stock dropped 5.2% in premarket trading but ended the session up +0.5%, outperforming the market by +1.8%. [Start Trading](113/cXx8Z04/VWRV8m5WXsGdW81gj4D3yw9TJW2VV8NG4P0FxwN5VHnSV2-MK5V1-WJV7CgC62W7z-mWb7F85Q3W3r7S4T22XL0pVNbt4q7wfGKQVw6zB17-cwSfW2Fj3Nz49DYvlW8p8YQh74vFL5W46_m5W3P6BLCV_XjKw87Q896W14zvnk6mH2FJW64fRV970w3R3W4fXVxh2sJ_tgW7zdR-V2GsjN8W7MMQ_28Zk8vQW4xWfmC7vJ52BW6Y820w8nRcMLN4_1HxfFsBLsW6mJmNF77N8S8W1Ccf285LtKpxW1_K-nL6q_9LJW2hzTzq14KGZB3bdl1) Trader's Corner In focus this week • Investors will be focusing on a speech by Fed Chairman Jerome Powell at the central bank's annual conference in Jackson Hole (on Friday). A dovish tone could be positive for the markets. • The Fed's favourite inflation gauge, the PCE, (on Friday) is expected to have increased by 4.7% YoY in July. A softer reading could confirm previous weeks' numbers that we are likely past peak inflation. • The most traded forex pair, the EURUSD is near July lows as dollar bulls seem to be in control. Chances for falling below parity are rising. Economic data this week • Jackson Hole Symposium • US PCE, PMIs, GDP, Michigan consumer expectations, New home sales, Durable goods, Crude oil inventories • EU PMIs, ECB minutes • Germany PMIs, GDP, business expectations • UK PMIs Earnings this week • Palo Alto Networks, Nordson • Intuit, JD.com, Xpeng, Advanced Auto Parts, Dick's Sporting Goods, Macy's • Nvidia, Salesforce, RBC, Snowflake, Autodesk, Splunk • Dollar General, PetroChina, Pinduoduo, Dollar Tree, Ulta Beauty • Marvell, Meituan, Dell, HP Crypto • Crypto markets surrendered gains this week as financial markets began to cool. USD210 million of Bitcoin long positions were reportedly liquidated on Friday. • Google has been quietly shoveling a massive USD1.5 billion into cryptocurrency and blockchain companies for almost a year, according to a research report by Blockdata. [Screenshot 2022-08-21 at 22.00.20] [Start Trading](113/cXx8Z04/VWRV8m5WXsGdW81gj4D3yw9TJW2VV8NG4P0FxwN5VHnSV2-MK5V1-WJV7CgJy4W8d9SsH9dJ9bWN5j6-N2ZxzN2M__c8vq7n3wVwhQJF1tmc1mW8vgsGS8VVlh0N5dzbzjh675dN4Dn6QCWbxjdW9cdwcs9c7s5KW32Dpjq7wH8jMW3WpgCH3BsY99N94DQGbYgJ83W6VDbgW5kWxGsW3v90rp77Q1KtW2Y-Z2948Ck_5W8gPyJb5wDdDqW3kMhZY31s8VbW8mb_6T47pZG5W3qf06L5KbqsTW1hd_1l4jPw--W9gh4xc6Yfzzy36qV1) Market Recap US stocks fell Friday, ending the week lower and snapping a 4-week winning streak for the S&P 500 pressured by short-selling activities and hawkish Fed rhetoric. Consumer cyclical and tech stocks led the indices lower. Treasuries also dropped, pushing 10-year yields up to 2.98%. The dollar capped its best week for the year. EURUSD extended losses and looks to be heading toward parity. And Oil edged up on bullish comments from OPEC's officials. This morning, market momentum continues to be on the downside as investors worry about what Fed Chair Powell will say Friday at Jackson Hole. S&P 500 futures are around 0.5% lower, while yields are steady. Chart Of The Day Bitcoin was making a decent comeback, topping USD25'000 at one point. But the cryptocurrency fell back to below USD22'000 as momentum began to fade. Fed hikes and headlines about troubles among crypto companies and miners selling coins are hurting sentiment. [BTC 2208](113/cXx8Z04/VWRV8m5WXsGdW81gj4D3yw9TJW2VV8NG4P0FxwN5VHnSB2-MJQV1-WJV7CgDKTW68BdVn5SylskW7SxY7z3f83KPW6-JYFD3GvZXHVvKNHb3lVQ3NW14y-4Q6YhDPxVtvz2j7nJ5Y9N7LZSnJpvSTWN2ZWTb9xPNJfW6BN-YZ62ZZ8pVzP8443BPXs4W6BNQQr1dqrqDW5NwdD84B2Cw4W51P48w2HZtNMW2fdMZ448mz6WW69R7hy4W_wjWW7lhxht69BBC0Vphh4j8fFVfnW3wH8-66CJF7c38GW1) FlowBank Blog CHF supports not waning yet | USDCHF & EURCHF [jorge-romero-k_gzjGNbsyA-unsplash](113/cXx8Z04/VWRV8m5WXsGdW81gj4D3yw9TJW2VV8NG4P0FxwN5VHnT92-MKpV1-WJV7CgMFxW3NTyf615jBPHW5QKx6F3_2fJ-W6vkbM38FZ7pxW6gWb1Q2LC0j5N2mff3l_CzNhW3Dcfm18fy8QbW5y8gTr6k88W_VbLsZ429tnTsW5tK_Kb5NWlSQN98rW46msZBKW46FncB3r9Pz6W44Hl5F40BBXPW5Bvh_s2QyJgnW4c7wk77q6HvDV2MCxW38tBQqVC0lMS2dvMTfW6hbHlZ2H-WtXW7yQNXl2rVqlCMyVHXjSxNWsW17Sy9P581RHxW2GtK72443R5PW6gNf1R8WMf7K34px1) The reversal in fortune for the Swiss Franc has been one of the more interesting market stories this year. Following initial weakness in Q1 and Q2, the haven currency has rebounded against major peers. 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