Author: FX
© Reuters. FILE PHOTO: A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, February 7, 2023. REUT SEOUL (Reuters) – North Korea slammed a recent United Nations meeting about its human rights record, asserting the United States used the international organisation for a “scheme” against Pyongyang, state media KCNA reported on Saturday. The U.N. Security Council discussed human rights abuses in North Korea on Thursday, with the U.S. ambassador criticising leader Kim Jong Un…
Iryna Drozd The US FDA has approved Regeneron Pharmaceuticals’ (NASDAQ:REGN) high-dose (“HD”) version of its blockbuster therapy Eylea (aflibercept). The new formulation allows patients to receive treatment less frequently. HD Eylea is dosed every 4 weeks for the first 3 months, then every 8 to 16 weeks in wet age-related macular degeneration and diabetic macular edema and every 8 to 12 weeks for diabetic retinopathy. While the standard Eylea dose is 2 mg, HD Eylea is 8 mg. Approval was based on the results of the ULSAR and PHOTON studies which compared HD to standard Eylea. HD Eylea met the…
AcelRx upgraded at HC Wainwright on likely authorization of anticoagulant Source link
Share: China’s economic indicators signal distress, with weak retail sales, plunging imports/exports, and Evergrande’s bankruptcy filing. US Federal Reserve minutes highlight commitment to 2% inflation target but voices caution against overtightening. Traders eye upcoming S&P Global PMIs in Australia and a slew of US data, including Powell’s Jackson Hole speech, for directional cues. AUD/USD registers minuscule losses though it registered weekly losses of 1.41%, as market sentiment remained downbeat amid China’s economic developments, denting investors’ mood. That, alongside global bond yields portraying traders expecting additional tightening, kept the Australian Dollar (AUD) pressured for the eighth consecutive day. The…
Share: EUR/JPY dropped near 158.00, still trading in cycle highs. After two consecutive weeks of gains, the cross will close a weekly decline of 0.30%. The Japanese National CPI from July came in higher than expected. On Friday, the JPY traded strongly against most of its rivals, making the EUR/JPY cross retreat to the 158.00 area. In that sense, inflation data fueled some hopes of the Bank of Japan (BoJ) pivoting, but more evidence may be needed for the bank as their eyes are also set on the Chinese financial woes. On the EUR side, the Harmonized Index…
© Reuters. U.S. President Joe Biden holds a joint press conference with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol during the trilateral summit at Camp David near Thurmont, Maryland, U.S., August 18, 2023. REUTERS/Jim Bourg By Trevor Hunnicutt and Hyonhee Shin CAMP DAVID, Maryland (Reuters) -U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol made several pledges in an historic Camp David meeting, and issued sharp rebukes to China and Russia: CHINA’S ‘DANGEROUS AND AGGRESSIVE’ ACTIONS The leaders issued a sharply worded joint statement about Beijing’s actions in…
There was no major news coming out of the Fed chatter. Most of the focus was on interest rates, and stocks. Bitcoin fell toward technical support. Crude oil prices rebounded off of low levels and closed higher on the day, but down on the week.On Friday, if you were to look at the price changes of the major currency pairs outside the JPY and CHF, they were all within 0.11% of the prior close. Looking at the changes of the major currencies vs each other, the JPY was the strongest. The CHF was the weakest. The rest had small net…
Share: WTI increased more than 1% on Friday and found resistance near $81.30, above the 20-day SMA. US Oil and natural rigs decreased for the sixth week in a row. The USD trading neutral allowed the black gold to gain traction. Chinese financial woes may limit the WTI’s upwards momentum. At the end of the week, the West Texas Intermediate (WTI) barrel rose above the 20-day Simple Moving Average (SMA) of $81.30, seeing more than 1% gains. The US reported on Friday that the weekly Baker Hughes Rig Counts decreased to 520 from the previous 525 in the week…
Monthly options expiration was likely a factor in trading today but, in any case, the dip buyers returned and stocks mounted a solid comeback, led by value.S&P 500 flat Nasdaq Comp -0.2%Russell 2000 +0.8%DJIA +0.1%Toronto TSX Comp +0.1%On the week:S&P 500 -2.1%Nasdaq -2.6%DJIA -2.2%This was the third week in a row of declines for the Nasdaq:Nasdaq weekly Source link
Share: Silver price edges up 0.07% on Friday, buoyed by a dip in US Treasury bond yields and a mixed market sentiment. Technicals suggest XAG/USD’s struggle near the weekly highs of $23.00, with the 200-day DMA acting as a key barrier. Immediate resistance lies at the downslope trendline, with potential targets at $22.80 and pivotal $23.00 per ounce. Silver price recovers some bright towards the end of the week, climbing 0.07% on Friday, underpinned by US Treasury bond yields falling, while the Greenback trims its weekly gains. Mixed sentiment surrounding the financial markets was another reason for the…