Author: FX
zhengzaishuru Oregon’s Multnomah County is suing oil and gas companies for their role in the 2021 heat dome, claiming in a lawsuit filed Thursday that emissions from the companies played a significant role in causing the extreme heat event during several days in late June and early July 2021. The county, which includes the city of Portland, is seeking more than $51B in damages to pay for costs associated with future extreme heat events as well as to study, plan and “weatherproof” against extreme heat. The companies named in the lawsuit include Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Shell (SHEL), BP…
There was a very late bid in the oil market today that may have materialized as major events started to unfold in Russia.In a video last week, Wagner founder Yevgeny Prigozhin appeared to say that his 25,000 strong militia was heading to Moscow to oust the leadership of the defense ministry.”Those who destroyed our lads, who destroyed the lives of many tens of thousands of Russian soldiers, will be punished. I ask that no one offer resistance… We will consider anyone who tries to resist a threat and quickly destroy them,” he said.Not surprisingly, Russian officials didn’t take that well…
2d illustrations and photos Sagimet Biosciences (SGMT) has refiled for a $75M initial public offering. The biotech company didn’t specify terms in its latest filing, but indicated in its fee filing schedule that it was looking to raise $75M. The company hopes to list its shares on Nasdaq under the symbol SGMT. Based in San Mateo, Calif., Sagimet has been developing therapies for nonalcoholic steatohepatitis, or NASH. The company lead drug, denifanstat, is in Phase 2 testing. Lead bookrunners on the deal include Goldman Sachs, TD Cowen, Piper Sandler and JMP Securities. Sagimet first filed for an IPO in April…
© Reuters. FILE PHOTO: Supporters of the drag community protest against Florida’s ‘Protection of Children’ bill which would ban children at live adult performances, inside the state capitol in Tallahassee, Florida, U.S. April 25, 2023. REUTERS/Octavio Jones/File Pho By Daniel Trotta (Reuters) – A U.S. judge on Friday blocked a new Florida law restricting drag performances, the third time this month that federal courts have enjoined laws backed by Florida Governor Ron DeSantis that concern gender or LGBTQ matters. In all three cases, the issues supported by DeSantis, a Republican presidential candidate, lost on grounds that the laws appear to…
Share: The EUR/JPY found support at a low of 155.06 and then recovered to 156.60. European and German PMIs came in weaker than expected. Soft inflation figures and monetary policy divergence weights on the Yen. Despite initial losses, the EUR/JPY pair managed to regain ground, climbing from a low of 155.06 to 156.60 and closing with mild losses. Weaker-than-expected figures from the US, UK and the Eurozone seem to be having a greater impact on the Yen as the USD/JPY rose to monthly highs. In addition, monetary policy divergence between the European Central Bank (ECB) and the Bank…
Share: NZD/USD bulls are looking for a break to the upside to test trendline liquidity. All eyes are on the RBA meeting as per market correlations. NZD/USD has been held below a key trendline resistance for a couple of years but it could be on the verge of a breakout to the upside. However, the Kiwi the Bird is being dominated by global moves until something notable happens in the region. All eyes are on the 4 July Reserve Bank of Australia decision until then. NZD/USD weekly and daily charts Meanwhile, as per the technical analysis, the bulls are seeking…
Share: Pound gains ground as BoE boosts rates; EUR/GBP pair hits 0.8566, sparking recession concerns. The technical outlook suggests a prolonged EUR/GBP downtrend as cross falls below the 20-day EMA. Buyers eye EUR/GBP recovery above 0.8600; the critical hurdle lies at 50-day EMA at 0.8657. The EUR/GBP dropped for the second straight day following Thursday’s Bank of England (BoE) monetary policy decision to raise rates by 50 basis points (bps) which bolstered the Pound Sterling (GBP) against the Euro (EUR). In addition, a deceleration in business activity in the Eurozone (EU) and the UK increased recession fears. Still,…
Markets:WTI crude oil down 22-cents to $69.29US 10-year yields down 6.4 bps to 3.73%Gold up $6 to $1919Bitcoin up $2.4% to $30,850S&P 500 down 0.8%USD leads, AUD lagsThe US dollar was in demand once again, despite falling Treasury yields. Some of that might have been a result of relative values as bund yields fell much further than Treasuries. In any case, it was a classic risk-off day with the exception that the yen couldn’t sustain a bid. That’s a red flag because there was some initial JPY-buying after the hot Japan core CPI print earlier. Some of that extended early…
Share: USD/CAD traders await the open next week to decide on the directional bias. Bulls are in the market and correcting bearish bias. As per the prior analysis, USD/CAD Price Analysis: Bears are eyeing a continuation, but bulls seek to take over, USD/CAD has made its move to the upside as forecasted and the bulls are eating into the Fibonacci scale as the following will illustrate. In the near future, however, a downside continuation could be in store: USD/CAD daily charts, prior analysis The market is bearish and is headed towards a price imbalance between the current lows and near…
A busy week for central banks means forex playas had a lot of repricing to do! Less-hawkish-than-expected meeting minutes from the BOJ and RBA dragged the Australian dollar and the yen throughout the week, while growth concerns also pulled the British pound lower. Meanwhile, the U.S. dollar benefited from hawkish testimonies from Powell as well as some good old risk aversion, falling only to the Loonie by the Friday close. USD Pairs Overlay of USD vs. Major Currencies Chart by TV Risk aversion and expectations of hawkish testimonies from Fed Governor Powell gave the dollar a boost early in the week,…