Tesla Inc's quarterly earnings are due today - 19.4.2023

On Tuesday, the US dollar index slightly corrected down after a 2-day increase. A strong support level remains at the psychological level of 100.7 points. The outlined upward movement is supported by the positive statements of the FRS representatives. In particular, the Federal Reserve Bank (FRB) of St. Louis President James Bullard suggested that the Fed Funds rate could well be raised to 5.5-5.75%. Recall that now it is 5% and is likely to rise to 5.25% at the Fed meeting on May 3. Yesterday, a negative factor for the US dollar was good statistics in a number of countries and the strengthening of their currencies. United Kingdom Employment Change 3-months (+169 thousand) in February was better than expected. China Gross Domestic Product posted a notable +4.5% YoY growth in Q1 2023. China Retail Sales and Industrial Production increased. Inflation in Britain for March came out this morning. It amounted to 10.1% y/y and slightly decreased compared to February (+10.4% y/y). This strengthened the British pound.

Bitcoin quotes have been in a narrow range around the $30,000 mark for a week now. The upward trend continues. Investors are waiting for interim results in a legal dispute between the Coinbase crypto exchange and U.S. Securities and Exchange Commission (SEC). U.S. today The House of Representatives Committee on Financial Services is about to discuss the regulation of stablecoins. If any decisions are made, they may affect the dynamics of the crypto market.

Yesterday, the change in quotes of US stock indices was minimal. Macroeconomic data on the housing market were perceived by the market as neutral, despite a slight decrease in Building Permits and Housing Starts in March. Basically, investors reacted to quarterly reports. At Goldman Sachs Group (-1.7%) it turned out to be slightly weaker than forecasts, while at Bank of America (+0.6%) it was slightly better. Yesterday's reporting of other American corporations and banks also did not have a single vector. Quarterly results of the IT giant Netflix (+0.3%) were neutral. Refinitiv forecasts a -4.8% year-on-year decline in total earnings for S&P 500 companies in the first quarter of 2023. The economic review of the Federal Reserve System (Fed) Beige Book will be released today in the US. In addition, Tesla Inc, Morgan Stanley, Abbott Laboratories, IBM, U.S. quarterly reports will be published. Bancorp and other companies.

This morning, oil prices resumed their decline. West Texas Intermediate is trading near the psychological support level of $80 per barrel. Investors fear that further rate hikes by the US Federal Reserve (5%), European Central Bank (3.5%) and other global central banks will help reduce demand for hydrocarbons. The quotations are supported by the announcement of the American Petroleum Institute about the decrease in oil inventories in the US for the week by 2.67 million barrels, as well as the good growth of the Chinese economy in the 1st quarter (+4.5% y / y).

Natural gas in Europe on the ICE Dutch TTF continues to trade in the range of $420-580 per 1000 cubic meters. It is now worth about $480 per thousand cubic meters. US gas quotes on the Henry Hub yesterday rose for the 3rd day in a row. Now they are about $2.47 mmBtu.