Don't miss: AmEx record revenue 💳 PMI data 📊 Oil falls 🛢️

FlowBank's hand-curated fresh financial news [header_noDither] 21.04.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [amex] American Express Q1 earnings disappointed as the payments company braced for debt troubles among its credit card holders, even as revenue rose to a record high. Amex posted EPS of $2.40 vs. $2.73 a year earlier, on revenue of $14.28 billion vs. $11.74 billion in Q1 2021. Provisions for bad loans totaled $1.1 billion, resulting in profits missing forecasts. [Start Trading](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGv_2-MK5V1-WJV7CgHL8W7zz8hW3bL7-SW6G0SSm3-_XCxW4v77n512_drHW7WhPQz1SGv5bW28KLsJ3sB3K5W39-wHL1MSbJhW1zwNCR33Rc3lW8-RVNj24LwD7W8fYfwk8XSz2kW6mq6CJ7WyvQPW4WNy-f7bzD-TW87lmWS967qMgN1_S23XxB4HBW1rlwwV4rVry0W587xh-1YysygW693yFM4YFWSxV3pndq6pwlWLW3VCwgW2JCBvYW1Y3lhd1yt2QGN15-455P10-934QJ1) Trader's Corner In focus • USD/JPY falls for a 2nd day after Japan's CPI remains sticky in March ahead of the BoJ meeting next week. Today's US PMI data is the next catalyst. • Oil falls to a 3-week low as soft economic data and fears of rising interest rates hurt the demand outlook. Oil is set to drop 6% this week after 4 straight weekly gains. Economic data • Japan CPI, UK retail sales • EZ, UK, US PMIs • CAD retail sales Earnings • BHP, P&G, SAP • First Financial, • Schlumberger [Start Trading](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGv_2-MK5V1-WJV7CgK2gV3nfSn8K0GmPW3C5qkf79bXzjW80_lk84M0HgKW3_2Pct8JZ9xlW40Yb1z5vJ5gHW5jqJhN7lccwpW2h9hZN3_q7W9V1t3X26-hZxlVwqbrn1Ztgm3W4TPkmZ1kbVtcW2Ynj-16vvWXyW8Nbgy62pv6bnW12DGLs5Cf6y7W1T38yC5_45SyW2TT_RZ6ssqmpVshpzd5TcRYHN3nKw4XlKp-6W7TXYgy6T5VjQW9hFbfG3QzGRQN5Rl7wV-wGsY2lw1) Market Recap European stocks closed broadly lower, with auto stocks under pressure after earnings and after Tesla’s disappointment. Renault fell 8% despite a 29.9% rise in revenue, and Volvo initially fell 6%, before closing 1% higher post-earnings. The three main indices on Wall Street closed lower on Thursday, pulled down by gloomy earnings led by Tesla. Weaker data fueled recession fears. Continuing jobless claims rose to the highest level since November 2021. Today US and European futures are mixed as growth concerns linger and as investors look ahead to PMI data for further clues. UK, EZ, and US manufacturing are stuck in contraction while services show signs of strong demand providing another reason to raise interest rates higher. Chart Of the Day Fundamentals for technology names continue to strengthen amid continued weak expectations and depressed levels of investor positioning. While Tesla took a hit as it told investors it will forgo profitability for greater market shares, IBM reported strong earnings. In semis, TSMC said it believes it is passing through the bottom of the cycle in the second quarter and its business in the second half of this year should be stronger. Keep an eye out for next week's most important earnings for US Big Tech. [Nasdaq 100 2042023](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvJ2-MJQV1-WJV7CgLxkW206XWY932pcVW4TpZZg6JVBvkV-_mYq8kNDBNW60t66T2WY2M4W6fXPvx3sS3B5W4PHSrR3CgcvjW9lvvQG83cjstW4y1dBl181LG_W1Vr7-S6-v4gzW2j35BM1bcgsWW420gvj32LTyWW6yfkB08q2xFsN8cYxwLTJ0dNW4c7WYF8CD-pKW79YJ8J1p21YPW5knBx46Yft_VW3HN-9L6DQy2MW1x7yYV5Ktym53p2k1) [LINKEDIN](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvJ2-MJQV1-WJV7CgVLJW8gCr154wp6HZW2m_Z5g1v0gqfN9h9jg4GMyjfW7dcwZV6Py0zNW4Fj1-y60KRL0W4_60sN8l1HqzW2GchBm5PWM7KW36n1JR8YSVtTW2HJYST54xM6QW89QSS81c6w40W1Z--ZX7QKY8LW1z8JPm3B-mlVN4BY0pbhL85KW13wbcp43VcjNVZd0L06yS_sPW6hVg9l31GVwvW2wC6bY6g_pY9W6hsYx341rvyq3pYM1)Highlights Oil: 'Stuck' in a Trading Range. Here are the Catalysts 🎢 Supply is restricted in the medium term given OPEC+ vowed to cut production. And global demand is not coming off track. This would likely require to see a sustained downward path in economic growth. Click [here](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvJ2-MJQV1-WJV7CgKkdW7TTMHd3rG-X2V7TPqg4XNZ8RW3h5-tD5Jr_lfW6Pxk8N66SQvyW7kBJlx6DzJPCW80NRRz8_01VfW5KKD802vDxfdW2gTkhb7J0z-7W40yRq928Z6CYW8X3Y6R3-NsKxW79kMks7X9-P8W6Tn59g29NXCLW1vd5vD3qVk0FW4kn-zc2ZXMHfW1Yllqt6lq-WSW3lz_Xs8wCxzdVjqShC8GrvYsMrW_vnVPgSc3jcC1)to read more. [wti RANGE-1](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvJ2-MJQV1-WJV7CgBFrW8Y7Vwf7zbMJlW28YVrV8Bbz2RW3Xb5tH7nJsyNW1ClDp-2DzHgRW2PLpwC3WwvXHW8WQtRV3TVwJ-W7z_fHV3f79zXW6WpHJm3s55tRW6_ysZ_2CwHhnW60P3KC5HZGnNW1j0l8w448DzGN86spVjvfjCdW4xSJPC6pqRkPW2kLbHx69ldkmW27nsn03N9kw0W2fQXJg8kST8ZW5g2KKF3d7Yz-W5BlPLV39jg9s3mzs1) [LinkedIn](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvJ2-MJQV1-WJV7CgQ9XW2CfC5x6ldXjLW25Syb458xPw_N4KbD1ysmvd9W8l4sqm7LPFmtW8B_Y361tm2lyW3wtQsT17hsjBW5_2ZF131s-9qW7FpMzN5nzr1hW60lXXP7Bn_wHVsJjq06dP94MW6f8pxW4SBRlpVdMR1S6qPtYkN3rw82hKB-7_Mc1HydyCK5VW1-pdXn14DXtQW8WPxQq1jlf9YW5TmVTB3_YMZjN4SmBYrv_-Gh37X-1) poll: Will Big Tech earnings exceed expectations? [Vote here, we would love to know your views 💡](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGwh2-MKpV1-WJV7CgDJbW6H_4Yt312fB1N2GkZhdkH6PYW1TqcRl1FjdRNW965yk76pWnDTW5LZZBl49vcy1W7bpT4t8XMRt1W5QVcRf44-gMPW6r18VC2fFdjPW57Tt5l8Y5-S6VMpG7z7vXnPkW7nS22T6qrVm2W9hnS5y5M45rTW4m1fdX7TjCWhW6qFsst78sFh4W6jB9Lt7kWVNMW2N0G642m7fF4W8yrv7K2xf6t9N1zW3n8v5gvpW6YgnmV8hl_BMW2BCFHd7sY7_lW2hJHz26bW8mNW6rLRT71Hs_dL36MR1) [INSTAGRAM](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvp2-MJwV1-WJV7CgW90Vf3HRZ2S6M8kW129HX35S6Cm0W1LtFRC9cJYKpW1gTV5w5h3zcqW18FLfj3nsGMmW8q-xHJ98LFkTW6HTyTg7zr7LRW3JK7Fr6bkgtyW6GgfxY7RhmyfW9kl-NL4X9ZCsW5jfBnw8x9MjbW8WTTX-2Btzk8W2bp5c66zP0kwW1QLFk55wJ5TwW8NGn3J5Q80bYW4v6qrL882ZLb3cz31)Highlights Renewable Energy Companies In Focus 🔋 Click [here](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvp2-MJwV1-WJV7CgPGsW4VSLdh6j7-scW4J5Ydz45wsdrW3B4zHK99VQL2W5mBH-R4VSQFSW3NJTkJ882dSsW109hFs71K1XNW3Rs49h36xDdQW8gs_-V79nV2VW6LwKxR95S1mrW6sKtRw5wn4SvW9b3lqm429GCvW5b-7zw1ZQ-qXVT_nSn1Mg-N1W58299n8M9C29VgqbDP6yxJskW7_6xR27f6fcR31GC1)to see our page. [IG 10 rc](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvJ2-MJQV1-WJV7CgLMBW2CRSgN3xJQs9W5qfxXy4HWcB-W76KTYZ63l65bW6B-qfv27Dwx9W7-F58Y4ssqmLW3W0zQB80bS9LVr6mlD4FSS1mW56qMZb8J3T9fN124cZZ1cxM8W1ry5mn1M3HWHW3k7K1G8KVb5tW3fqcGB8Tjz4vW5xGSZ31KDV-ZW3h3jNP7l7NlwW82KYNW3_78FnW64CVjK6JtkxqN1x1Pyz9vZzLN6VH3R5sH7RT3nq81) FlowBank Blog With UK inflation still over 10%, where next for GBPUSD? [big-benbig-ben-westminster-abbey-london-england (1)](113/cXx8Z04/VWB4vB7rWJWGN2G4fCcMDrpBW430FVB4ZDkk8N28qGvJ2-MJQV1-WJV7CgPRnW1b86Rj8FRf_hW5YRlCC80HRx5W5ZfLT46Y5_0QW8X85y_78Vm4DW7q3xFK4QY6g-W3lGXMv7FfHS4W8vfSt05trXsBW2kPrWL6yB9wLW23z5bq36-l9BW4tqM-K9lcp3nW79M4_72LTwmCV-cHgn4VGsz9W6VQNgs66tTtpVfNNrC19wd7hW8qXs-k2F-T3JVkGFdz4xCTRcW4Pjxg81K3PTMW9b1HcF4rzYVD3g8H1) The pound is the best-performing G10 currency this year, up around 3% against the US dollar since the start of the year, and it reached a 10-month high last week. In light of this week’s wage and inflation data, could the rally in Sterling continue? 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