PepsiCo's quarterly earnings release today - 12.10.2022

Today, the US dollar index is slightly corrected down after rising for 5 days in a row. Investors are waiting for the publication of materials from the September meeting of the Fed (Federal Open Market Committee Minutes) and the United States Producer Price Index (industrial inflation). Preliminary forecasts are positive. USDJPY hit a new high since August 1998 this morning. This was facilitated by weak data on orders in mechanical engineering (Japan Machinery Orders). An additional negative for the yen was the passivity of the Bank of Japan, which does not yet carry out foreign exchange interventions. A relatively large amount of UK economic data (GDP, trade balance, industrial production) has been released this morning. Almost all of them turned out to be bad, but this did not have a negative impact on the dynamics of the pound. Bank of England Governor Andrew Bailey did not rule out the termination of money issue for the redemption of bonds (bond-buying program) this week. This may support the pound.

Bitcoin is still trading below the psychological $20,000 mark. However, it can grow up thanks to the announcement of the development of a joint blockchain project of the largest bank and payment system - JPMorgan and Visa. Their Liink and B2B Connect products will be used as a base. This can create a positive background in the crypto market.

There was no single trend on the US stock market on Tuesday. The Dow rose on the back of Morgan Stanley's upgrade of pharmaceutical company Amgen Inc's (+5.7%) investment attractiveness estimate. Naturally, the industry index Dow Jones Health Care (+0.5%) became the leader of the increase yesterday. Shares of Meta Platforms Inc (-3.9%) hit an annual low after investment firm Atlantic Equities downgraded its recommendations. Shares of Microsoft Corporation (-1.7%) yesterday also updated the annual minimum. Today, the main information may be the quarterly report of soft drinks producer PepsiCo, which will be released before the start of trading. Investors hope that it will be positive. Now futures for US stock indices are showing an increase.

Today, oil quotes are growing slightly after a 2-day decline. The G7 countries at an extraordinary meeting dedicated to Ukraine did not adopt new sanctions against Russian oil production. Meanwhile, the Polish company PERN reported a possible leak from the Russian oil pipeline Druzhba. With its help, Russian oil is delivered to Germany. There is no detailed information yet, but in the event of a serious accident, oil quotes may rise. Just like it was with natural gas after the Nord Stream accident. Now investors are waiting for the publication of data on changes in US oil inventories for the week. According to forecasts, they may increase by 1.7 million barrels. The main negative for the global oil market now are two factors: the risks of a resumption of the coronavirus epidemic in China and the risks of a recession in the global economy. The International Monetary Fund cut its 2023 global GDP growth forecast to 2.7% from 2.9%.