P&G Sales Fell 6% In Q4, In UK Bailey Thinks That They Turned A Corner In Inflation

Netflix added nearly 7.7 million new subscribers last quarter versus only around 4.5 mio expected by the market. The share popped almost 10% higher in the afterhours trading.

Netflix

The results have been a relief for Netflix, but it will hardly reverse the fading optimism, as the S&P500 traded lower for the third straight day, having failed to clear a very critical resistance zone, above 4000 level, where the 200-DMA, and the ceiling of the 2022 bearish trend prevented investors from extending the rally into a new, bullish era, with no major justification on the company, or macroeconomic level.

P&G hasn’t been as lucky as Netflix. 

In this sense, P&G hasn’t been as lucky as Netflix. Their sales fell 6% in Q4, after they raised prices 10%. Price increases for P&G products may have hit a critical point where customers are no longer willing to pay for them.
Elsewhere, US jobless claims fell below 200’000 for the first time since last September, and the US reached its debt ceiling yesterday, and began using special measures to avoid a payments default.

Forex

In the FX, the US dollar index remains under pressure. The dollar-yen is better bid despite the data showing that inflation in Japan hit 4% in December, as expected. The EURUSD remains bid below the 1.08 level, while Cable continues flirting with the 1.24 mark.

Oil, gold and Bitcoin

Oil is stuck between 50 and 100-DMA, gold ticks higher despite overbought market conditions, while Bitcoin rally slows near $21.5K.

Watch the full episode to find out more!

• 0:00 Intro
• 0:54 Netflix beats
• 2:59 P&G deceives
• 3:50 Early-year optimism fades
• 5:18 US hits debt ceiling
• 6:22 Where does Bailey finds so much optimism?
• 7:40 ECB and SNB hint at further rate hikes
• 8:23 Crude oil between 50, 100-dma
• 8:35 Gold pushes deeper into overbought market
• 8:54 Bitcoin rally stalls

Ipek Ozkardeskaya

Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.

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