Earnings Season Begins: Impact on USD and Risk Assets

The week of April 20–24 puts traders at the intersection of geopolitics and corporate earnings — a rare and volatile combination.

💵 Dollar on the rebound. The DXY recovered to around 98.3 in early Monday Asian trading, clawing back losses as renewed Iran tensions offset last week’s ceasefire optimism. The Fed holds rates at 3.50–3.75% with no cuts expected before late 2026, but markets now price in a roughly 50–50 chance of easing by year-end — up from just 30% a week ago. USD direction hinges on which narrative wins.

📈 Earnings are the wildcard. Q1 2026 EPS growth for the S&P 500 could hit 19% — the highest since Q4 2021. This week’s key reports: Intel (Monday), UnitedHealth (Tuesday), Tesla — the first Magnificent Seven name to report — (Wednesday), and Netflix. Strong results and bullish guidance = risk-on, weaker dollar. Cautious outlooks = back to safety trades.

🇪🇺 EUR/USD closed Friday near 1.1767 and is pulling back in early Monday trade as the dollar bounces. Key resistance at 1.1825, then 1.19. Support at 1.1670.

🇬🇧 GBP/USD is currently trading around 1.3480 after fading from Friday’s test of 1.36. Bulls need a clean break above 1.36 to target 1.37 and the 2026 high at 1.3869.

🥇 Gold is hovering near $4,800, up nearly 40% year-on-year, supported by central bank demand and geopolitical risk. Watch for profit-taking if risk appetite surges on strong earnings.

🗓️ Don’t miss: April PMIs and jobless claims on Thursday, and UoM inflation expectations on Friday — all potential USD movers.

⚡ Bottom line: strong earnings = risk-on, weaker USD, AUD/GBP/EUR higher. Weak guidance or Iran escalation = dollar comeback. Stay alert, stay nimble.

👉 Trade the volatility with NordFX: https://my.nordfx.com/en/registration?utm_source=social&utm_medium=post&utm_campaign=nordfx

Earnings Season Begins: Impact on USD and Risk Assets 📊 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.