Author: FX

© Reuters This Hidden Ethereum (ETH) Support Is Extremely Important U.Today – , the second-largest cryptocurrency by market capitalization, has been experiencing a challenging phase. The once-thriving DeFi and NFT sectors, which significantly contributed to ‘s meteoric rise, are currently subdued. The buzz and activity around these sectors have dwindled, leading to a noticeable decline in Ethereum’s trading volume. Furthermore, the concept of Ethereum as “ultrasound money” is facing scrutiny. Touted as a deflationary asset due to the EIP-1559 upgrade, which introduced a mechanism to burn a portion of the transaction fees, Ethereum’s current state suggests otherwise. The deflationary pressures…

The South China Morning Post (may be gated) reported on China’s US$1.35 trillion sovereign wealth fund increasing its equity stakes in the nation’s four biggest banks:stoking speculation authorities are trying to shore up confidence in the market after an exodus of foreign funds and a slump in the local currency“This move, reminiscent of its actions during the 2015 Chinese equity market turmoil, signifies the government’s desire to maintain market stability,” Redmond Wong, China strategist at Saxo Capital Markets in Hong Kong, said in a note to clients.—Central Huijin Investment which owns strategic stakes in local financial institutions. Bought additional domestic…

jetcityimage/iStock Editorial via Getty Images UnitedHealth Group (NYSE:UNH) is expected to report higher Q3 earnings Friday, with investors watching to see if rising costs are negatively impacting margins. The Minnesota-based health insurance company is scheduled to release its earnings report before market open. Last quarter, UnitedHealth’s results topped consensus estimates on both the top and bottom lines, with non-GAAP EPS of $6.14 beating consensus by $0.16 and revenue of $92.9B beating by $1.94B. The health insurance giant also said that Q2 net margins slid to 5.9% from 6.3% in the prior year’s quarter due to its medical care and operating…

Share: Analysts from the Australia and New Zealand Banking Group (ANZ) are out with a note highlighting that the Australian “soft landing” economic outlook appears to be holding, with economic indicators treading softly. significant easing across most price and cost indicators in the NAB survey Consumer and business surveys over the past week suggest the soft landing remains on track. Business conditions are still well above long run average levels, despite a decline of three points in September, while forward orders rose two points to be close to long-run averages.  Labour cost growth decelerated to 2.0% q/q in…

Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Gold Price Forecast: Bearish Winds Prevail but Turnaround Nears, XAU/USD LevelsThe U.S. dollar, as measured by the DXY, embarked on a furious rally on Thursday after hotter-than-expected U.S. September inflation data sent Treasury yields sharply higher and increased the likelihood that the Fed will deliver another quarter-point rate hike at its December meeting. In this context, the Loonie (CAD) and the Aussie (AUD) suffered a major setback and took a beating against the greenback, with both…

Shengfeng Development reports 1H results Source link

2/2 © Reuters. FILE PHOTO: Food sits in a box of free groceries for residents at a food pantry run by La Colaborativa in Chelsea, Massachusetts, U.S., March 8, 2023. REUTERS/Brian Snyder/File Photo 2/2 By Daniel Trotta (Reuters) – High levels of inflation and increased costs of living are contributing to worldwide hunger, according to a survey of 16 countries commissioned by the humanitarian group World Vision International. The survey, which comes ahead of World Food Day on Monday, found that 59% of parents surveyed were very concerned about child hunger and malnutrition in their families, with 46% worried about…

S AND P 500 PRICE FORECAST:Most Read: Mixed US CPI Data as Core Inflation Falls to 2 Year Lows, DXY Rises and GBP/USD SlidesUS Indices have run into trouble thanks to a combination of key resistance levels and a sticky Inflation print. The inflation data actually came in rather mixed in my opinion with the headline inflation number remaining at 3.7% but above estimates of 3.6%. Core inflation YoY however fell to a 24-month low of 4.1%.Looking for actionable trading ideas? Download our top trading opportunities guide packed with insightful tips for the fourth quarter! Recommended by Zain Vawda Get…

There was a nearly 4 basis point tail on the 30-year sale. That’s certainly going to add to the term premium argument.It’s highly unusual for a bond auction to miss this badly and it argues for a return to the highs in yields.US 5 minsYesterday’s 10-year auction also tailed.I can’t stress enough how rare it is for a bond auction to tail this badly. It speaks to some kind of real change in underlying Treasury demand, or at least some hesitation that hasn’t been there in decades.In the past week, there’s been some cautious optimism that long-end rates were peaking…

GOLD PRICE OUTLOOKGold prices turn lower following hotter-than-expected U.S. CPI dataSticky inflationary pressures boost Treasury yields and the U.S. dollar, creating a challenging environment for precious metalsThis article looks at XAU/USD’s key technical levels worth keeping an eye on over the coming trading sessions Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Oil Price Forecast – Geopolitical Turmoil to Spur Bullish Energy Market SentimentGold prices (XAU/USD), which hit multi-month lows last week, embarked on a modest recovery in recent days. Earlier on Thursday, bullion…