Yesterday it was Intel and IBM which caused the surge in stockmarkets and the ‘risk-on’ trading mood in the FX markets. Today Apple has posted some very strong earning results. Will it be deja vu all over again?
(Aren’t all of these companies American? Doesn’t all of this profit augur well for capital investment, employment, tax revenues etc? If it’s going to be risk-on and the USD manages a relief rally then the play is to be long USD/JPY. When and where are of course the two important questions).