Author: FX
Market Recap Recommended by Jun Rong Yeap Get Your Free Equities Forecast Initial gains in Wall Street took a turn overnight, as a jump in Treasury yields kept the pressure on risk sentiments. Particularly, the 10-year Treasury yields saw a jump of 13 basis-point (bp) to reclaim its key 4% level, while the US two-year yields were up by 8 bp, driven by a confluence of stronger-than-expected US economic data and chatters of a policy adjustment from the Bank of Japan (BoJ).The advance estimate for US 2Q GDP has smashed expectations by a wide margin (2.4% versus 1.8% consensus), notably…
Share: Early Friday morning in Asia, the Washington Post (WaPo) quotes anonymous US Officials familiar with the matter while stated the White House decision to bar Hong Kong’s top government officials including Chief Executive John Lee from attending November’s Asia-Pacific Economic Cooperation leaders’ summit in San Francisco. More to come. Source link
RHJ/iStock via Getty Images Vale (NYSE:VALE) said Thursday it agreed to sell 13% of its nickel and copper business in two separate deals totaling $3.4B. Under the deals, a joint venture formed by Saudi Arabia’s Ma’aden and the country’s sovereign wealth fund will acquire 10% of Vale’s (VALE) base metal unit, confirming earlier speculation, and U.S. investment firm Engine No. 1 will buy 3%. For Saudi Arabia, the deal marks its first big push to deploy its vast oil wealth into the global mining industry; for Vale, the sale proceeds will help finance as much as $30B of investments over…
Rhinebeck Bancorp GAAP EPS of $0.13, revenue of $10.66M Source link
USD/JPY FORECAST:USD/JPY slumps in late trading, erasing early session gains despite soaring U.S. Treasury yieldsMedia reports that the Bank of Japan could tweak its yield curve control program boosts the yen across the boardBoJ will announce its monetary policy decision for its July meeting on Friday (Japan time) Recommended by Diego Colman Get Your Free JPY Forecast Most Read: US Second-Quarter GDP Growth Shatters Estimates, Boosting Yields and the DollarUSD/JPY was on track for a solid rise Thursday morning after U.S. second-quarter GDP growth beat consensus estimates by a wide margin, but gave up its advance and swung sharply lower…
A proposal seeking to temporarily increase the interest rate granted to holders of stablecoin Dai (DAI) was approved by the MakerDAO community on July 27, raising yields for tokenholders to as high as 8%. The proposal introduced the Enhanced Dai Savings Rate (EDSR), a mechanism that temporarily increases the effective Dai Savings Rate (DSR) available to users. The enhanced mechanism will be determined by the DSR utilization and will be reduced over time as the DSR utilization goes up. Enhanced Dai Savings Rate (EDSR) mechanism. Source: MakerDAOContinue Reading on Coin Telegraph Source link
US 10-year yields are back above 4%, rising 16 basis points today. That is the best instrument to tell the story of why US stocks started red hot and have quickly cooled. It’s the combination of several things, starting with (1) strong US data today, including a great GDP report and low initial jobless claims. Powell yesterday pushed to keep the idea of a September rate hike alive and while that’s only risen to 22% from 20% today, there’s a plausible scenario where the US economy heats up.Feeding into the inflation narrative is the (2) rise in WTI crude above…
Share: EUR/GBP peaked at a daily high of 0.8600 and then retreated below 0.8550. As expected, ECB hikes rates by 0.25% but didn’t commit to a hike in September. The 2-year German yield fell more than 1% to 3.23%. On Thursday, the Euro weakened against most of its rivals, including the USD, GBP, AUD, and JPY, following the European Central Bank’s (ECB) decision to hike rates by 0.25% as investors perceived a dovish tone in Christine Lagarde’s presser making German yields decrease. Like Federal Reserve (Fed) Chair Jerome Powell on Wednesday, Christine Lagarde confirmed she was “open-minded” towards…
Gold Price (XAU/USD) Analysis, Price, and ChartStrong US economic data send gold spinning lower.Friday’s Core PCE data will be key for gold going into the weekend. Recommended by Nick Cawley Get Your Free Gold Forecast Gold has given back $25+ today after the latest batch of US data showed the American economy in rude health. Durable goods m/m beat expectations by a wide margin, the first look at Q2 GDP also beat by a margin, while jobless claims fell and core PCE prices also came in below market forecasts. If tomorrow’s Core PCE Price Index and Michigan Consumer Sentiment carry…
Editas, Azzur expand manufacturing partnership Source link