NVIDIA announced record results for the third quarter of fiscal 2025, with revenues of $35.1 billion (+17 per cent quarterly, +94 per cent y-o-y). The main driver of growth was the Data Centre segment, which brought in $30.8 billion (+17 per cent quarter-on-quarter, +112 per cent year-on-year). With these results, NVIDIA overtook Apple in terms of market capitalisation to become the world's most valuable company. The company's CEO Jensen Huang stressed that artificial intelligence is revolutionising the industry and that demand for NVIDIA technologies, such as Hopper and Blackwell, is huge. The company forecast Q4 revenue of $37.5 billion and a high gross margin (around 73 per cent). The results confirm that NVIDIA retains its leadership position in advanced technologies, addressing the global demand for AI-based solutions. In the coming week, we will learn preliminary US GDP readings and CPI inflation readings from the Eurozone and PCE from the US.
Table of contents:
- US gross domestic product (GDP) quarterly (Q3)
- US personal consumption expenditures (PCE) monthly price index (October)
- Eurozone consumer price index (CPI) monthly (November)
Wednesday, 27.11, 14:30 CET, US gross domestic product (GDP) quarterly (Q3)
The US economy grew by 2.8 per cent in Q3 2024, slower than the 3 per cent in the previous quarter, based on the preliminary GDP reading. Consumers spent more, especially on goods (up 6 per cent) and services such as medicines, cars, medical care and dining out. Government spending also increased, mainly on defence. Foreign trade was less of a drag on economic growth, with exports and imports increasing. Sales of capital goods increased markedly. In contrast, investment in residential construction declined. This picture for the US, amid a global slowdown in Europe and China, shows the strength of the US economy.
Analysts forecast a confirmation of the US GDP growth reading of 2.8 per cent.
Source: Tradingeconomics.com
A higher-than-expected reading could be bullish for the USD, while a lower-than-expected reading could act bearishly on the USD.
Impact: EUR/USD, USD/PLN, US500
Wednesday, 27.11, 16:00 CET, US personal consumption expenditures (PCE) monthly price index (October)
PCE inflation, which measures total consumer spending in the economy (as opposed to the CPI, which refers to spending by the average citizen), fell to 2.1 per cent in September, reaching its lowest level since March 2021. It thus virtually equated with the Federal Reserve's target, which may prompt central bank members to consider further interest rate cuts at upcoming meetings.
Analysts predict that PCE inflation will rise slightly in October, reaching 2.2 per cent.
Source: Tradingeconomics.com
A higher-than-expected reading could be bullish for the USD, while a lower-than-expected reading could act bearishly on the USD.
Impact: EUR/USD, USD/PLN
Friday, 29.11, 11:00 CET, Eurozone consumer price index (CPI) monthly (November)
Annual inflation in the euro area rose to 2 per cent in October 2024 from 1.7 per cent in September, in line with expectations. The increase was due to so-called base effects, as last year's fall in energy prices is no longer taken into account. Prices of food, manufactured goods and services rose faster, and core inflation remained at 2.7 per cent, the lowest since February 2022.
Analysts forecast a rebound in EUR area CPI inflation, to 2.3 per cent in November.
Source: Tradingeconomics.com
A higher-than-expected reading could be bullish for the EUR, while a lower-than-expected reading could act bearishly on the EUR.
Impact: EUR/USD, EUR/PLN
Grzegorz Dróżdż, CIIA, Market Analyst of Conotoxia Ltd. (Conotoxia investment service)
The above trade publication does not constitute an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No. 596/2014 of April 16, 2014. It has been prepared for informational purposes and should not form the basis for investment decisions. Neither the author of the publication nor Conotoxia Ltd. shall be liable for investment decisions made on the basis of the information contained herein. Copying or reproducing this publication without written permission from Conotoxia Ltd. is prohibited. Past performance is not a reliable indicator of future results.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.23% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading on CFDs is provided by Conotoxia Ltd. (CySEC no.336/17), which has the right to use the Conotoxia trademark.
