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On April 30th, Amazon (AMZN.O) reported Q1 2026 cloud revenue growth that exceeded Wall Street expectations, primarily driven by increased corporate investment in cloud computing services. Amazon Web Services (AWS) revenue grew 28% to $37.6 billion in Q1 2026, while analysts had previously expected an average increase of 25.08% to $36.61 billion. However, in volatile after-hours trading, the companys stock price fell 2%, and it projected second-quarter operating profit between $20 billion and $24 billion, slightly below the median analyst estimate of $22.62 billion.On April 30th, Microsoft (MSFT.O) reported revenue growth in its cloud business for Q3 of fiscal year 2026, while spending increased less than expected. Microsofts capital expenditures for Q3 of fiscal year 2026 increased by 49% to $31.9 billion, compared to institutional expectations of $34.9 billion. Total capital expenditures for the second quarter were $37.5 billion. Azure cloud computing revenue grew by 40% as expected in the quarter, faster than the 39% growth in the previous three months. This performance may alleviate market concerns: previously, the slow rollout of Microsofts Copilot 365 assistant for enterprises and its over-reliance on OpenAI may have eroded Microsofts early lead in the AI race. Furthermore, this also helps justify data center spending—although this spending has put pressure on cash flow, major cloud providers are expected to invest over $600 billion in AI infrastructure this year.Googles earnings call will begin in ten minutes.Qualcomm (QCOM.O): Leading hyperscale custom chip collaborations are expected to begin initial deliveries later this year. We look forward to providing information on opportunities including data center and physical AI at our Investor Day on June 24.On April 30th, Federal Reserve Chairman Jerome Powell told reporters at the end of his final press conference as Fed chairman on Wednesday, "Wont see you next time." This statement implicitly indicated that Kevin Warsh, not Powell, would be the one to attend the post-meeting press conference at the Feds next policy meeting in mid-June. This playful remark also confirmed Powells earlier promise: although he plans to continue serving as a Fed governor for some time after his term expires in May—due to concerns about the Trump administrations continued attacks on the Feds independence—he will not attempt to act as a "shadow chairman" to undermine Warshs authority.

AUD/USD falls approaching 0.7200 despite the former RBA governor's aggressive forecasts

Alina Haynes

Jun 08, 2022 11:59

 截屏2022-06-08 下午12.00.41.png

 

Bears and buyers continue to fight for position around 0.7220-25 as sentiment is mixed and investors remain cautious ahead of the week's big data/events. In doing so, the Australian duo struggles to defend the hawkish remarks of former Reserve Bank of Australia (RBA) Governor Ian Macfarlane.

 

Ex-RBA Governor Macfarlane warned early Wednesday morning about chronically rising inflation and the need to drastically increase interest rates. The former policymaker also stated, "There is sufficient scarcity in Australia and the United States to maintain a high inflation rate."

 

In contrast, China's Vice Commerce Minister Wang Shouwen joined China's Vice Finance Minister Zou Jiayi in reiterating concerns about a global economic downturn and a decline in demand. Recent consensus among policymakers held that the rise of global demand is slowing.

 

It's worth noting that a rebound in US Treasury rates and apprehension ahead of Thursday's European Central Bank (ECB) meeting, as well as Friday's US Consumer Price Index (CPI) for May, tend to stifle the AUD/USD pair's movements.

 

In spite of this, 10-year US Treasury note rates jump two basis points (bps) to 2.99 percent the day after breaking a six-day downward trend. A record decline in the US trade deficit and optimism on the US budget appear to have prompted a recall of US Treasury bond sellers. The US trade deficit for April decreased 19.1 percent from the previous day to USD87.1 billion.

 

Other market optimists were defended by US Treasury Secretary Janet Yellen and optimism for a quicker economic rebound in China. Tuesday, US Treasury Secretary Yellen spoke before the Senate Finance Committee about the Fiscal Year 2023 Budget while stating that the US economy faced problems from "unsustainable levels of inflation" and supply chain disruptions. The official said, "An adequate budget is necessary to support the Fed's efforts to control inflation without damaging the labor market."

 

It should be noted that World Bank (WB) President David Malpass's warning that faster-than-anticipated tightening might force certain nations into a debt crisis akin to that of the 1980s appears to have impacted on the quotation as of late. The risk-negative news from Ukraine may follow a similar trajectory. Politico reported that Ukraine has not yet achieved a deal with Russia or Turkey to enable the safe passage of its grain ships in the Black Sea, casting doubt on a U.N. initiative to build a crucial food corridor.

Technical Evaluation

A two-week-old support line protects AUD/USD buyers at 0.7205. However, the 200-day moving average and the recent top, located around 0.7255 and 0.7285, may challenge the Aussie pair's upside before the bulls regain control.


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