Apple beats 👍 Nasdaq rallies 🎢 USD vs GBP & EUR ☔Oil, gold, copper 👀

FlowBank's hand-curated fresh financial news [header_noDither] 3.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [1440x810_cmsv2_fbe26bbc-c19e-580f-be43-eebe788dcee9-6952492] Apple's sales and profitability fell short of analysts' expectations, owing to decreased iPhone sales, sending the company's stock down 2.6% after hours. However, losses were reduced because Chief Financial Officer Luca Maestri stated that iPhone sales are expected to grow. More volatility could be ahead. [Start Trading](113/cXx8Z04/VWdfR64qYTkKN2hrKDtjhc7GVfQRxk4Wzn3LN1RGL-k2-MK5V1-WJV7CgRL3W43Ts8G92q7w1W8GgK9H7y-Tf2W7YG-zx3GhDHWW3HtPLZ7xs71CVS2fyx8D5nfqN1gvPfH8h7GcW8RB1lP5-tsS2W2WBbMK3nX2S8W2NPDQw8-RYKJW5CCM0q8F_sFqW8Wz2Yy2vHFWfW2yQGGf2fN4XTW8W4rzL8-QDwVW88JZgx5GnVsbW5lW4NS2Bvl_WW56B-tg6Xvg4_MNHcN1yyzn9F8MwY8GWcVHW4BCp_J7cMNRmW5JMh2X4QSWsX3ff41) Trader's Corner In focus • Investors are closely watching the US employment report for signs of job growth and wage inflation. A slower job creation rate and a slowdown in average hourly earnings are hoped to reassure the Fed and provide a positive stock market impact. • The currency market saw increased volatility yesterday as traders increased bets of a near-ending rate hike cycle by the ECB and the BoE. More fluctuations are likely to be ahead as investors readjust their FX views • Lastly, in the commodity market, prices of precious metals, copper, and oil may decrease as the dollar strengthens. It remains to be seen whether this prediction comes to fruition or if buyers will take advantage of the dip. Economic data • US Nonfarm Payrolls, hourly earnings, ISM PMIs • EU PMIs, PPI • UK PMIs Earnings • Sanofi, Aon • Regeneron Pharma • Zimmer Biomet Crypto • Coinbase shares surged by 24% to go beyond the $80 barrier. This comes with the circulation of rumours of a favourable earnings report. Another factor fueling the price increase is the recent dismissal of a lawsuit accusing the crypto exchange of selling tokens that qualified as unregistered securities by federal district judge. [Screenshot 2023-02-03 at 01.11.21] [Start Trading](113/cXx8Z04/VWdfR64qYTkKN2hrKDtjhc7GVfQRxk4Wzn3LN1RGL-k2-MK5V1-WJV7CgQNjN8wSnmPSvpLfW1KyC4B8Q08B3W5gSPLJ48hTPYW5t93MS7CyTljW5j7lq33m3CpKW6q4G2_9kv-rDW5G0TQ68mXz9RW12m2kB6t-D93W51G6nV7Y-ZFRW1V5bHc6YRgmhN23ZWTygTq50W3MKj7Q1KCNLmW1vg6qc3yzx90W8HyqPd5CGbtzW6fTlgy2yrtWQW3Jch4C9hDzyqW6r6pKt1b65z0W3ZYSpb6S5zqtW98wJ_D3Cm5DSVp3p_Y2wTdnK3lFJ1) Market Recap Positive economic data, particularly the US labour cost index coming in below expectations, fueled a significant increase in stocks. This confirms the presence of disinflationary forces for the past few months. The Nasdaq rose over 3%, with mega-cap companies leading the charge. The pound decreased and UK bonds increased in value after the Bank of England revised its stance of taking "forceful" action if necessary. The euro also experienced profit-taking as the ECB appears close to completing its interest rate hike cycle. Meanwhile, the strengthening dollar weighed on precious metals. This morning, S&P500 futures are little changed, as traders adopt a wait-and-see mood ahead of the US Nonfarm Payrolls. The dollar is in the green and oil remains under pressure, Yesterday's lows ($75) will be a key support to watch for on WTI. Chart Of the Day The Bank of England raised rates by 50bps to 4%, its tenth consecutive hike and its highest since October 2008. However, The pound dropped and UK bonds extended gains on speculation the Bank of England is nearing the end of its hiking cycle, as it dropped its guidance that it would respond “forcefully” if necessary. [gbp-2](113/cXx8Z04/VWdfR64qYTkKN2hrKDtjhc7GVfQRxk4Wzn3LN1RGL-12-MJQV1-WJV7CgFNWN8kk_2fB0vBgW4LR-Kn7g6Qx5W8L1m5j84vJcKW5vQddQ2yD5k4W30N8yz3R4bLZW3_CtLk9bknWwW6WyKj92_n7_LN2JMMQnJQFV-W7_89YD3B09cJN22fyXw8-CX2VdLlbR5QPMy9W8bS12q4N2smnVlXm0c4Xh1GDW7s1k2T36NGl3W4Rtjkr4Pj1k-W73GkS22fk9l6W17Lzy088QGPTW18Hmg183g0vq3db41) FlowBank Blog Who to Watch in the AI Industry? [Dual-Arm_at_Deonet](113/cXx8Z04/VWdfR64qYTkKN2hrKDtjhc7GVfQRxk4Wzn3LN1RGL-12-MJQV1-WJV7CgKgdVC63636q6_HGW8ZR3Pm3HyMBYW2jh_XS1QZPl1W7mlHHf3Y29nhN9gmzRwSx-hkW35vHLR609YcVW1m3P8x1ZBZRqW4BND5n83pdWtW6_MMXh6KLRWbW5M87_M2HdqcbN51jQPWxQSHjW8M8Kgv89KYgXW71s-4r2055GTW2SFdc07lYFNPW3LfCB49d7C58W6K_W8S4BHmQPW755JD87hPkfbN8kvjRldB1jb3n4j1) In the world of cutting-edge technology, the AI industry stands out as a beacon of innovation and progress. As the industry continues to soar, it is poised to revolutionize the way we live and work. From deep learning to robotics and autonomous driving, the possibilities are endless. 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