Forex Signals April 29: Coca-Cola, PayPal, Starbucks and Visa Earnings Today

Today the earnings calendar continues, with some big names in retail such as Coca-Cola and Starbucks, as well as Visa.

Skerdian Meta•Tuesday, April 29, 2025•3 min read

Quick overview

Major earnings reports from companies like Coca-Cola, Starbucks, and Visa are expected today, contributing to market volatility.
The US dollar weakened against most currencies, particularly the British pound, amid optimism for a potential US-UK trade agreement.
Gold prices experienced significant fluctuations, hitting a record high before a sharp selloff, while Bitcoin rebounded strongly after dipping below $75,000.
The GBP/USD pair surged to its highest level since 2022, indicating strong performance against the US dollar and other currencies.

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Today the earnings calendar continues, with some big names in retail such as Coca-Cola and Starbucks, as well as Visa.

The US dollar weakened broadly against most major currencies, with the sharpest losses seen against the British pound. Despite persistent economic challenges in the UK, the GBP/USD pair continued to advance, supported largely by ongoing dollar softness and growing optimism surrounding a potential US-UK trade agreement.

In the equity markets, volatility was the dominant theme. All three major US indices initially plunged deep into negative territory, rattled by early-session uncertainty. However, a determined late-day rally saw the Dow Jones Industrial Average and the S&P 500 bounce back into positive territory. The Nasdaq Composite also staged an impressive rebound from session lows, although it ultimately closed slightly lower, unable to fully erase its earlier declines. Leading the rebound, the Dow finished the day up 114.09 points, or 0.28%, closing at 40,227.59.

Meanwhile, the commodities market experienced notable swings. Crude oil prices, which began the session on a stronger note, reversed course later in the day, with WTI crude settling $1.50 lower at around $61 per barrel. Gold prices also saw significant movement. After briefly slipping below the $3,300 mark, gold rebounded sharply, ending the session higher as risk sentiment wavered.

Today’s Market Outlook: Major Earnings Reports to Watch: April 29 – May 3

The forex calendar is relatively light today, with attention turning to Spanish flash inflation data, US JOLTS job openings, and the CB Consumer Confidence.

Conference Board’s consumer confidence report. Expectations for US consumer confidence stand at 87.4, a noticeable decline from the prior reading of 92.9. While there are concerns about how rising tariffs might affect consumer prices, recent trends suggest limited impact so far, with deflationary pressures still outweighing inflation risks. Even if tariffs were to escalate, the probability of a sharp inflationary spike remains low compared to the sharp price increases observed in recent years.

In corporate news, major players such as Coca-Cola, Pfizer, PayPal, UPS, Visa, and Starbucks reported their first-quarter results, drawing significant market attention and contributing to the day’s choppy trading environment.

Last week, markets were chaotic, with gold soaring $500 in the final three days, the EUR/USD surging 5 cents, and stock markets opening down before turning upward. The moves were big, and the volatility was enormous, so we opened 40 trading signals in total, finishing the week with 25 winning signals and 15 losing ones.

Gold Hits Record Highs on Monday, But Volatility Returns

Gold had an exceptionally volatile week overall. After smashing through the $3,500 per ounce barrier to set a new all-time high, the precious metal faced a sharp $250 selloff. However, following dovish commentary from Federal Reserve Chair Jerome Powell and heightened geopolitical tensions, bullish momentum returned quickly, propelling gold back above $3,300. In a dramatic turnaround, gold ultimately surged to a fresh record high of $3,444 per ounce, marking an increase of over $500 in just two weeks. Yet renewed optimism in global trade relations triggered another pullback, briefly sending gold prices below $3,300 again before renewed buying lifted it by $100. Chart XAUUSD, H4, 2025.04.28 23:42 UTC, MetaQuotes Ltd., MetaTrader 5, Demo

XAU/USD – H4 Chart

GBP/USD Surges to the Highest Level Since 2022

On the foreign exchange front, the GBP/USD pair captured market attention after climbing above the 1.34 level for the first time since late 2022. Although it ultimately fell back slightly, closing just under that threshold, the breakout remains significant. The crucial resistance to monitor remains at 1.3440, a level untouched since September of last year. Overall, the British pound outperformed not just the US dollar but also the euro and commodity-linked currencies such as the Canadian and Australian dollars, suggesting a strong close to April. Chart GBPUSD, W1, 2025.04.28 23:43 UTC, MetaQuotes Ltd., MetaTrader 5, Demo

GBP/USD – Weekly Chart

Cryptocurrency Update

Bitcoin Rebounds Off the 500 Weekly SMA

In the cryptocurrency space, Bitcoin had a turbulent ride of its own. After briefly dipping below the $75,000 mark and touching its 50-week moving average, Bitcoin found renewed strength, fueled by a resurgence of pro-growth sentiment driven by former President Trump’s campaign rhetoric and a broader rally in tech stocks. The leading cryptocurrency soared above $93,000 and, after clearing its crucial 100-day simple moving average, is now consolidating just below $95,000.

BTC/USD – Weekly chart

XRP Climbs Above the 50 Daily SMA

Ripple (XRP) also showed resilience, bouncing off major support levels between $1.80 and $2.20, drawing in new buyers. It is now holding steady at $2.20 above its 50-day moving average, suggesting that further gains could be on the horizon if bullish sentiment across altcoins persists.
XRP/USD – Daily Chart

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ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.