Author: FX
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© Reuters. David Tepper urges market to trust the Fed, says he is ‘leaning short’ on stocks By Senad Karaahmetovic David Tepper, the founder and president of hedge fund Appaloosa Management, is bearish on the U.S. stock market amid the ongoing central bank tightening. In an interview with CNBC, the legendary billionaire said he is “leaning short on the equity markets.” He also said he’ll sell bonds. “The upside/downside just doesn’t make sense to me when I have so many … central banks telling me what they are going to do,” Tepper said. He added that he has a small…
We only have a week or so before we welcome a brand spankin’ new trading year! The holiday break is a good time to sit back and reflect on the year that was. Have you started on your trading resolutions for 2023? If not, here are simple questions to think about. Remember, it’s important to be completely honest with yourself when assessing your performance! First, ask yourself questions such as: What are my trading strengths? What are my trading weaknesses? Was I able to stick to my trading plan? Have I achieved my trading goals for the past year? You…
WTI CRUDE OIL (CLc1) TALKING POINTSChina’s push for economic growth sees rally in crude oil prices.Weaker dollar assisting WTI bulls but for how long?Falling wedge breakout bringing into consideration the $80 resistance zone. Recommended by Warren Venketas Get Your Free Oil Forecast WTI CRUDE OIL FUNDAMENTAL BACKDROPWTI crude oil found some much needed support this Thursday after yesterday’s positive reaction to the significant decline in crude oil stocks as released by the EIA weekly report. The move higher today was prompted by China restating their focus to inspire economic growth in 2023 thus helping the demand-side influence for crude oil…
KEY POINTS: Recommended by Zain Vawda Get Your Free Gold Forecast MOST READ: USD Breaking News: Consumer Confidence Beats Estimates for December, DXY Edges LowerGold (XAU/USD) FUNDAMENTAL BACKDROPGold has bounced this morning following yesterday’s decline from one-week highs. The precious metal remains within the wedge pattern formation which served as resistance while the US dollar index continued its decline.The dollar index has continued its seasonal trend of losses in December as the greenback eyes a recovery in the new year. The greenback has been strong in January recording gains in each of the last 4 years. On Wednesday we saw…
As the Fed delivered a more hawkish than expected stance, the market sold off for some days as the risk of an overtightening coupled with a deep recession caused risk aversion across the board, affecting the Russell 2000. The Fed is resolute on bringing the inflation rate back to their 2% target and they are willing to go for a “hard landing” scenario to achieve that. This can be seen by the subtle hawkish messages like them not revising the terminal rate in the Dot Plot after the miss in the CPI report even if they could do so until…
The Central Bank of the Republic of Türkiye (CBRT) announced on Thursday that it left the policy, one-week repo, rate unchanged at 9% following the December policy meeting, as expected. Key takeaways from policy statement as summarized by Reuters “CBRT expects disinflation process to start on the back of measures taken.” “It is critically important that financial conditions remain supportive.” “Current policy rate is adequate.” “Leading indicators for the last quarter of the year continue pointing to a slowdown in growth due to the weakening foreign demand.” “Effects of foreign demand-based pressures observed in the manufacturing industry on domestic demand…
EUR/USD ANALYSISChinese optimism provides pro-cyclical currencies and euro with support.U.S. growth data dominates the economic calendar.Declining bullish momentum for EUR/USD? Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro is having a firm start to Thursday’s European session with the dollar on the backfoot after China’s reiteration to stimulate economic growth boosted risk sentiment. Flows exited the safe-haven dollar helping the EUR gain further traction. In addition the European Central Bank (ECB)’s de Guindos maintained the hawkish narrative stating that “50bps may soon become the new standard” to quell rising inflationary pressures within the eurozone. Trade…
Okyo stock rises 10% on FDA nod to start trial of dry eye disease therapy Source link
3/3 © Reuters. An elderly resident stands from a chair after receiving a dose of a vaccine against coronavirus disease (COVID-19), during a government-organized visit to a vaccination center in Langxia town on the outskirts of Shanghai, China December 21, 2022. REUTERS/ 2/3 By Zoey Zhang and Bernard Orr SHANGHAI/BEIJING (Reuters) -A Shanghai hospital has told its staff to prepare for a “tragic battle” with COVID-19 as it expects half of the city’s 25 million people to get infected by the end of the year while the virus sweeps through China largely unchecked. After widespread protests and a relentless rise…