Author: FX

Recommended by Manish Jaradi Traits of Successful Traders Global equity markets tumbled while the US dollar rose as risk appetite took a back seat following aggressive tightening by global central banks in an attempt to rein in stubbornly high inflation.The MSCI All Country World index declined 2.2%, the S&P 500 index fell 1.4%, and the Nasdaq 100 index dropped 1.3%. The German DAX 40 tumbled 3.2% and the UK FTSE 100 fell 2.4%. In Asia, the Hang Seng index plunged 5.7%, while Japan’s Nikkei 225 fell 2.7%. Risk-sensitive currencies, including the Australian dollar and the New Zealand dollar, were down…

What is behind big pharma's underperformance? Source link

Share: Friday‘s S&P 500 intraday reversal higher didn‘t last into the close even if bonds favored that. The odds though remain heavily stacked against the buyers – from negative money supply growth, LEIs down for 14 months in a row, ISM data, yield curve, tight Fed, Treasury replenishing TGA, greedy sentiment, bank reserves likely to decline as reverse repos won‘t be enough for boosting TGA, sharply up bankruptcies vs. year ago, tax collection down some 20% YoY, tight bank lending standards, rising credit card debt, strain in leading job market indicators – or the narrow leadership that‘s not…

© Reuters. A man walks near a board showing currency exchange rates of U.S. dollar against the Russian rouble in in Saint Petersburg, Russia June 24, 2023. REUTERS/Anton Vaganov NEW YORK/LONDON (Reuters) -Investors were watching for ripple effects from the aborted mutiny in Russia, with some expecting a move into safe havens such as U.S. government bonds and the dollar when markets open later on Sunday. Heavily armed Russian mercenaries led by Yevgeny Prigozhin, a former ally of President Vladimir Putin and founder of the Wagner army, advanced most of the way to Moscow after capturing the city of Rostov…

Warning: ICL is at high risk of cutting its dividend Source link

5/5 © Reuters. Fighters of Wagner private mercenary group pull out of the headquarters of the Southern Military District to return to base, in the city of Rostov-on-Don, Russia, June 24, 2023. REUTERS/Stringer 2/5 ROSTOV-ON-DON/VORONEZH, Russia (Reuters) – Heavily armed Russian mercenaries who advanced most of the way to Moscow halted their approach, de-escalating a major challenge to President Vladimir Putin’s grip on power, in a move that their leader said would avoid bloodshed. Yevgeny Prigozhin, a former Putin ally and founder of the Wagner army, said his men reached within 125 miles (200 km) of the capital on Saturday.…

Schwab Fundamental U.S. Small Company Index ETF declares quarterly distribution of $0.1850 Source link

straga/iStock via Getty Images U.S. liquefied natural gas developers are on track to win approval of three new export projects capable of processing 5.1B cf/day of gas in this year’s first half, a record volume for new LNG projects in any year. The new developments put the U.S. on track to export 12.1B cf/day this year and 12.7B cf/day next year, which would push the U.S. even further ahead in its role as the world’s largest LNG producer and exporter. “We expect global LNG demand to grow from 399M tons in 2022 to 627M tons by 2035, more than a…

The CEO of the Securities and Futures Commission (SFC) of Hong Kong, Julia Leung Fung-yee, addressed Hong Kong’s embrace of Web3 regulation following the collapse of crypto exchange FTX in November 2022, stating that crypto trading is an important part of the virtual asset ecosystem. During the speech, Leung reportedly explained that the new licensing system for virtual asset providers would ensure that investors are protected while considering the risks that financial institutions face. In her view, incorporating virtual assets providers into the regulatory system was the only way to embrace innovation and strengthen market trust after FTX’s bankruptcy. Continue…

USD/JPY ANALYSISWill Fed Chair Powell continue is hawkish rhetoric?US economic data awaits as global slowdown concerns grow.145.00 on the cards for USD/JPY bulls? Recommended by Warren Venketas Get Your Free JPY Forecast JAPANESE YEN FUNDAMENTAL BACKDROPThe Japanese Yen has had a tough time last week and heads into the week on an overall weaker note due to Fed Chair Jerome Powell’s hawkish Testimony as well as Friday’s decline in Japanese CPI. Falling inflation will make it difficult for the Bank of Japan (BOJ) to shift from its ultra-loose monetary policy but changes to Yield Curve Control (YCC) is still a…