Author: FX

Recommended by Daniel Dubrovsky Get Your Free EUR Forecast The US Dollar absolutely crushed it against its major counterparts this past week. In fact, the Euro confirmed its 8th weekly loss against the Greenback, matching an identical losing streak back in 2014. A 9th disappointment would mean the longest monthly losing streak since 1997! But, the Chinese Yuan took the cake in terms of being one of the worst performers.Financial market sentiment also deteriorated, with the Nasdaq Composite, S&P 500 and Dow Jones weakening -1.95%, -1.11% and -0.42% last week, respectively. Things were not looking much better across the Atlantic,…

3/3 © Reuters. U.S. President Joe Biden holds a press conference in Hanoi, Vietnam, September 10, 2023. REUTERS/Evelyn Hockstein 2/3 HANOI (Reuters) – The United States and Vietnam announced new deals and partnerships as U.S. President Joe Biden visited Hanoi on Sunday including billions of dollars in plane orders, heightened human rights discussions, digital economy education and semiconductor design centers. Here are the highlights: BOEING AND VIETNAM AIR Vietnam Airlines has agreed to buy about 50 Boeing (NYSE:) 737 Max jets in a deal valued at about $7.5 billion. The deal will support “over 33,000 direct and indirect jobs” in…

Fotolia/iStock via Getty Images JPMorgan recently raised its projections for weight loss drugs, expecting the drug category known as GLP-1 agonists to bring over $100B in annual sales by 2030 in a duopoly controlled by Novo Nordisk (NVO) (OTCPK:NONOF) and Eli Lilly (NYSE:LLY). In a research note last week, JPMorgan analyst Chris Schott said that he did not rule out further sales upside for GLP-1s in obesity and diabetes, where the uptake of the drug class is fast rising amid social media hype. JPMorgan’s revised estimate follows LLY’s better-than-expected Q2 sales for its dual GIP/GLP-1 agonist, Mounjaro. It also comes…

malerapaso/E+ via Getty Images A potential $20 billion merger between containerboard giants Smurfit Kappa and Westrock received mixed reviews after talks about a potential deal were confirmed this week. Shares of Smurfit Kappa in Ireland fell 7% in the two days following a WSJ story that broke news of the merger talks between the Irish and U.S. companies. WestRock shares climbed 8.3% amid the disclosure. WestRock (NYSE:WRK) and Smurfit Kappa (OTCPK:SMFTF) confirmed Thursday that the boards of both companies are discussing key terms of a potential combination to create Smurfit WestRock. The potential deal would be effected through an Irish…

© Reuters Ethereum (ETH) and Solana (SOL) Overshadowed, Says IntoTheBlock U.Today – In a market that is often swayed by , and find themselves in a complicated spot. Despite a string of bullish news, including Visa (NYSE:)’s interest and the buzz around a potential spot ETH ETF, both digital assets seem to be grappling with a shadow cast by fear-driven dynamics. The looming $3 billion liquidation on FTX is a case in point, steering the market’s focus away from the positive strides these blockchains are making. As of the latest data, Ethereum is priced at $1,623.49 USD, while Solana stands…

UPCOMING EVENTS:Tuesday: UK Labour Market report, German ZEW, US NFIB Small Business Optimism Index.Wednesday: Japan PPI, UK GDP, EZ Industrial Production, US CPI.Thursday: Australia Labour Market report, Japan Industrial Production, Switzerland PPI, ECB Policy Decision, US Jobless Claims, US PPI, US Retail Sales.Friday: NZ Manufacturing PMI, China Industrial Production and Retail Sales, Eurozone Wages data, US University of Michigan Consumer Sentiment. TuesdayThe UK Unemployment Rate is expected to rise to 4.3% vs. 4.2% prior, but the market will likely focus more on the wages data which is seen matching the prior readings with the Average Earnings ex-Bonus at 7.8% and…

5/5 © Reuters. A general view of damage following a powerful earthquake in Amizmiz, Morocco, September 9, 2023. REUTERS/Abdelhak Balhaki 2/5 By Jihed Abidellaoui and Alexander Cornwell MARRAKECH, Morocco (Reuters) – Rescuers searched on Sunday for survivors of Morocco’s deadliest earthquake in more than six decades, with more than 2,000 people killed by the disaster that has laid waste to villages in the mountains outside Marrakech. Many people spent a second night in the open after the 6.8 magnitude quake hit late on Friday. Relief workers face the challenge of reaching the most badly affected villages in the High Atlas…

7/7 © Reuters. Tennis – U.S. Open – Flushing Meadows, New York, United States – September 9, 2023 Coco Gauff of the U.S. celebrates winning her final match against Belarus’ Aryna Sabalenka REUTERS/Mike Segar 2/7 By Amy Tennery NEW YORK (Reuters) -Teenager Coco Gauff mounted a fierce comeback to beat Belarusian second seed Aryna Sabalenka 2-6 6-3 6-2 in the U.S. Open women’s final on Saturday, claiming her first Grand Slam title and cementing her place in American tennis royalty. With the win, sixth seed Gauff became the first American to win a U.S. Open singles title since Sloane Stephens…

MON: Norwegian CPI (Aug)TUE: EIA STEO, OPEC MOMR; Swedish Unemployment (Aug), UK Unemployment (Aug) & Wages (Jul), NorwegianGDP (Jul), Germany/EZ ZEW (Sep)WED: IEA OMR; UK GDP Estimate (Jul), US CPI (Aug)THU: ECB Policy Announcement, Norges Bank Regional Network; Australian Employment (Aug), Swedish CPIF (Aug),US Retail Sales (Aug), IJC (w/e 4th Sep), New Zealand Manufacturing PMI (Aug)FRI: Quad Witching, CBR Policy Announcement, ECB TLTRO Repayment Publication; Chinese Industrial Output/Production, Retail Sales, House Prices (Aug), EZ Trade Balance (Jul), US Export/Import Prices (Aug), IndustrialProduction (Aug), NY Fed Manufacturing (Sep), Uni. of Michigan Prelim. (Sep)NOTE: Previews are listed in day orderNORWEGIAN CPI (MON):…

© Reuters. U.S. President Joe Biden attends Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. REUTERS/Evelyn Hockstein/Pool By Nandita Bose and Francesco Guarascio NEW DELHI/HANOI (Reuters) – U.S. President Joe Biden visits Vietnam’s capital city Sunday, where the two countries are expected to declare themselves strategic partners, as the United States seeks to push supply chains from China and both countries to try to counter Beijing’s military and diplomatic influence in Asia. Biden will arrive at the Presidential Palace Sunday afternoon for a formal welcome from Communist…