American banks disappointed the reporting

Events, which should be paid attention to today:

15.30 Moscow time. USA: Retail sales for June.


in the United States, the traditional corporate reporting season has started. The first, by tradition, banks published their quarterly financial results. JPMorgan and Morgan Stanley reported much worse than the market expectations both in revenue and net profit. Investors were waiting for a decrease in indicators, but the final numbers were depressing. I note that banks are historically the first to begin show the weak dynamics of revenue and arrived before the upcoming economic crisis. The American stock market on the eve of updating the three -week maximum, after which correctional growth began, but you should not perceive this rebound as a change in the bear trend. Weak financial reporting of banks signals the continuation of the trend! For this currency pair, this is a negative signal, since it historically correlates with the American stock market.

Trade recommendation: Sell 139.15/139.46 and Take Profit 138.55.