
The G20 summit took place in Bali, Indonesia, on November 2022…
Don’t waste your time – keep track of how NFP affects the US dollar!
Data Collection Notice
We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.
Join Us on Facebook
Stay on top of company updates, trading news, and so much more!
Thanks, I already follow your page!Beginner Forex Book
Your ultimate guide through the world of trading.
Check Your Inbox!
In our email, you will find the Forex 101 book. Just tap the button to get it!
Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.
77.93% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.
You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.
Information is not investment advice
Alcoa Corporation, a global aluminum supplier, will present its earnings report for the Q3 on October 14 after the stock market closes (23:59 GMT+3). The release will be followed by an investor conference call.
Alcoa, the largest US aluminum producer, had a highly successful year. The aluminum demand made buyers from all over the world to line up. This metal has a wide range of applications from beverage cans to aviation and construction.
The demand for aluminum has almost doubled over the past and a half of the year. It brought the balance of supply and demand in the long-struggled aluminum industry to a complete reversal. Consumption is on the rise, while production in China, the leading aluminum supplier, stays under pressure. In this situation, buyers are forced to agree to higher prices, because the global economy is "recovering" after a year of lockdowns.
This sudden change in balance is extremely positive for Alcoa. In July, the company released a strong Q2 report and overperformed analysts' expectations. In 2021, Alcoa plans to ship from 2.9 to 3 million tons of aluminum, while earlier the company's forecast did not exceed 2.8 million tons.
Analysts at Goldman Sachs talk about the prospects for a multi-year rally in prices amid the key role of aluminum in the economy's transition to renewable energy sources. Metal demand is also supported by President Joe Biden's infrastructure project.
Alcoa is an extremely risky asset, which in the event of a large-scale sale will fall much more aggressively than the market. The stock has a beta of 2.7 (a beta above 1 indicates higher-than-market volatility in the stock; the opposite is also true).
Analysts and experts forecast: Revenue = $2.93B, Earnings per share = $1.75
Alcoa daily chart
Alcoa price has been consolidating between $51.8 and $45 for the past two months. It is still above all moving averages, which keeps bullish sentiment for this stock. The price gets held by the 50-day moving average at $45, which is the main support.
FBS analysts believe that a bull rally will help Alcoa to show its best after the earnings report (read our US500 and US100 overview to learn more). According to the Fibonacci expansion if the price breaks through $52 it will reach $58, which is the main target for the upcoming movement.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Your request is accepted.
We will call you at the time interval that you chose
Next callback request for this phone number will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later