Author: FX
Share: GBP/USD remains sidelined after snapping four-week downtrend. UK Rightmove House Price Index, employment survey from Adjuna prods Cable buyers. Hawkish BoE concerns allowed Pound Sterling to ignore upbeat Greenback. Monthly PMIs, central bankers’ speeches at Jackson Hole eyed for clear directions as UK recession woes challenge pair buyers. GBP/USD buyers struggle to keep the reins after beating the bears the last week, following four consecutive weekly declines. With this, the Cable pair seesaws near 1.2740-30 amid the early hours of Monday’s Asian session after positing the first weekly gain in five. That said, the latest round of…
Qifu Technology Q2 2023 Earnings Preview Source link
Representatives from the People’s Bank of China and other Chinese financial market regulators met with bank executives over the weekend and instructed the lenders, once again, to boost loans to support an economic recovery. The good news is that they did this. The bad news is that they had to do this. The context is of course the rapidly growing concerns that China’s deepening property crisis is starting to spillover into its financial system.Also on the meeting agenda were discussions on measures to prevent and reduce local government debt risks. We’ll get rate cuts from the People’s Bank of China…
Recommended by Daniel Dubrovsky Get Your Free Gold Forecast The US Dollar mostly outperformed its major counterparts this past week. Gold prices were particularly hit hard as Treasury yields on the longer-term spectrum soared. This was likely to due financial markets pricing in a higher terminal rate from the Federal Reserve amid still-solid economic data.In fact, this dynamic also took its toll on equity markets which succumbed to volatility. Tech stocks were hit particularly badly with the Nasdaq 100 on course for the worst month since December, down over 7 percent this month so far. While the Dow Jones and…
3/3 © Reuters. FILE PHOTO: A combination photo shows Ecuadorean presidential candidate Otto Sonnenholzner talks to the media, in Guayaquil, Ecuador August 14, 2023, Ecuadorean presidential candidate Christian Zurita poses for a photograph, in Quito, Ecuador August 15, 2 2/3 By Alexandra Valencia and Julia Symmes Cobb QUITO (Reuters) -Ecuadoreans were voting on Sunday to choose a president and legislature they hope will lead the country out of a spiral of violence and economic troubles after a campaign darkened by bloodshed. Candidates have pledged to fight sharp increases in crime, which the current government blames on drug gangs, and improve…
Hailshadow/iStock via Getty Images Ahead of the world’s first immunization drive against respiratory syncytial virus (RSV), a new report from the London-based health analytics firm Airfinity suggests RSV vaccine sales for older adults could exceed $10B by 2030 in G7 countries. For years, RSV was an unmet medical need until GSK (NYSE:GSK) and Pfizer (NYSE:PFE) developed vaccines against the virus. RSV infects the lungs and respiratory tract, causing about 60–160K hospitalizations and 6K–10K deaths among older adults in the U.S. annually. In May, GSK (GSK) won U.S. FDA authorization for Arexvy, designed with an adjuvant licensed from the U.S. biotech…
Gold prices looks to a big data week that includes the Jackson Hole Economic Symposium as XAU/USD bulls look to find some respite. Source link
Price trends across the cryptocurrency market remained in a downtrend on Aug. 19 as the total market capitalization tries to stay above $1 trillion. (BTC) price has also been unable to hold the $26,000 level as the markets moved into the weekend. Crypto market vs. daily performance chart. Source: TradingViewBitcoin suffered the most liquidations vs. the rest of the crypto market. Source: CoinGlassMSCI vs. crypto market daily performance chart. Source: TradingView Crypto market’s daily performance chart. Source: TradingViewCrypto market’s weekly performance chart. Source: TradingViewContinue Reading on Coin Telegraph Source link
UPCOMING EVENTS:Monday: PBoC LPR.Wednesday: NZ Retail Sales, AU/JP/EZ/GB/US PMIs, Canada Retail Sales.Thursday: US Jobless Claims. Friday: Fed Chair Powell speaks at the Jackson Hole Symposium (24-26 August).MondayThe PBoC is expected to cut the LPR rates by 15 bps as it did the last week with the MLF. The rate cuts follow the promise of Chinese authorities to deliver more on the stimulus side to propel its ailing economy. The markets didn’t react positively to rate cuts as they probably want to see a stronger action. PBoCWednesdayNew Zealand Retails Sales Q/Q is expected at -2.6% vs. -1.4% prior, while Core Retail…
© Reuters There is a significant worldwide contrast in household electricity expenses for individual (BTC) miners. While producing one Bitcoin in Italy costs $208,500, in Lebanon, it’s roughly 783 times cheaper, according to a recent report. Published on Aug. 17, CoinGecko’s report revealed that only 65 countries are profitable for solo Bitcoin miners, based solely on household electricity costs. Among these, 34 countries are in Asia, while Europe only has five. The most unprofitable countries to mine 1 BTC. Source: CoinGeckoContinue Reading on Coin Telegraph Source link