The earnings from Nvidia came in better than expected as did the revenues and even the guidance but investors side not the delay in the Blackwell and
The earnings from Nvidia came in better than expected as did the revenues and even the guidance but investors side not the delay in the Blackwell and perhaps hopes for more, took the stock down in after-hour trading (the stock was trading near $117-118 in after hours trading after closing at $125.61). That has Asian shares stepping lower with the Japan Nikkei down -0.39%, China’s Shanghai Composite down -0.60%, Hang Seng index down -0.76%, and the S&P/ASX200 index down -0.39%.
What did not help in Australia is the Capital expenditure data for Q2 which came in much weaker than expected at -2.2% vs +1.0%. That was not a good number and helped to push the AUDUSD back down after once again trying to extend above resistance at 0.6800. The current price is trading at 0.6890.
In contrast, the New Zealand ANZ business outlook index for August made traders take a double-take as it increased to 50.6 vs 27.1 last month. That was good enough for the highest level in 10 years. Moreover, the Own Activity index was equally impressive with a gain of 37.1 vs 16.3 last month. That was it’s highest reading in 7 years.
The data helped to propel the NZD sharply higher vs all the major currency pairs with gains of 0.44% (vs the CHF) to 0.59% (vs the USD).
The NZD is by far the strongest of the currencies to start the trading day. The USD and JPY are tied for the weakest of the majors (although the greenback had relatively modest declines vs the major currencies sans the NZD or -0.1% to -0.11% in the snapshot view.
US yields are marginally lower. Gold tried to stay below hourly MA resistance neat $2507, but moved above those MAs on the US selling. Bitcoin is trading marginally higher (about $137) at $59,170.
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