Apple Lost The High Market Expectations Out - 26.10.2012

Thursday session turned out volatile and full of new releases. We note unexpectedly strong data on the third quarter UK GDP that increased by 1.0% q/q which is 2 times higher than the market consensus. In the previous overview we reported that GBP/USD has all chances for testing the key resistance at 1.6130. That is exactly how it happened right after the statics release sterling headed to the high at 1.6142. The upcoming days may have the mid-term trend direction set. Sterling strengthening is reflected in EUR/GBP cross rate: the pair showed decrease during the last sessions getting closer to important trend support at 0.8000. The hotly debated topic during the U.S. session, concerned the rumors of the Fitch rating agency that may announce lowered credit rating of the USA. This information does not have any real grounds yet, but it definitely put more nervousness into trading. Meanwhile the Apple reports disappointed Wall Street: if the revenue met the forecasts, then earnings per share made $8.67 that is worse than the market consensus at $8.81. Investors reacted with sale of shares which were getting lower by 4% in the postmarket. It is no surprise that American futures show almost 0,8% decrease.