Author: FX
Financial market turmoil dominated the markets last week and remains a hot topic as the various rescue plans are assessed! UBS agreed to buy Credit Suisse in a $3 bln share deal. UBS shares were down 9.6% at 15.46 Swiss francs, while Credit Suisse shares dived nearly 60% to 0.77 francs. The agreement brokered by Swiss officials in a bid to prevent a wider crisis in the banking system includes extensive government guarantees and liquidity provisions. It still means losses for stockholders as well as around $17 bln of AT1 bonds, which will become worthless to ensure that private investors help…
UBS to buy Credit Suisse in a more than $3 bln share deal, pushed into the biggest banking deal in years! The Swiss government will provide more than $9 billion to backstop some losses that UBS may incur by taking over Credit Suisse, while $17.3 billion of the so-called additional tier 1 bonds will be completely written down. Last Thursday, CS also took a $54 billion lifeline from the Swiss National Bank. Credit Suisse’s takeover by UBS marks the end of the bank’s 167 years as an independent institution. Global central banks announce enhanced USD liquidity arrangement. The Fed, the Bank of Canada,…
Divergence trading is probably one of the most underrated technical analysis techniques that many new traders overlook. It is not as popular as a technique as most simplistic trading setups are. However, with the right oscillator indicator and the right parameters, traders could significantly improve their trading accuracy using divergences. Divergences are basically discrepancies in the magnitude of the price swings based on price action compared to the swings based on peaks and troughs on an oscillator. In trading, oscillators are technical indicators which typically indicate momentum by plotting lines or histogram bars that oscillate around a median or within…
In case you missed the headlines, you can check out Eamonn’s posts here. Basically, we saw a takeover deal of Credit Suisse by UBS and also major central banks coming together to enhance dollar swap lines in order to bolster liquidity conditions just in case. That gave markets a bit of a lift early on but the optimism has been fading since the open. Here’s a snapshot of things:2-year Treasury yields +4 bps to 3.886% (was as high as 4.029% earlier)10-year Treasury yields +4 bps to 3.438% (was as high as 3.519% earlier)S&P 500 futures +6 points or +0.15% (was…
Hoping to catch market tops or bottoms? Or looking to ride a long-term change in trend? You gotta check out these fresh reversal patterns and breakouts on gold, CAD/JPY and EUR/USD. Gold (XAU/USD) Weekly Chart by TradingView Take a look at that long green marubozu on the weekly chart of gold! This very bullish Japanese candlestick just busted through the top of the precious metal’s descending channel, indicating that a reversal from the downtrend is in the works. Technical indicators are also aligned with the upside move, as Stochastic pulled right back up from its dive to signal that buyers…
Share: EUR/USD grinds higher during three-day winning streak, mildly bid of late. US Two-year Treasury bond yields pare the biggest weekly loss in three years and trigger US Dollar rebound. Major central banks’ joint actions to infuse US Dollar liquidity, UBS-Credit Suisse deal favor risk-on mood. ECB’s Lagarde should defend policymakers’ hawkish bias to keep Euro buyers on the table, Fed’s 0.25% rate hike appears given. EUR/USD prints mild gains around 1.0680 as the key week begins on a positive note. That said, the major currency pair prints a three-day uptrend amid early Monday morning in Europe as…
Win McNamee Pfizer (NYSE:PFE) Chief Executive and Chairman Albert Bourla will likely become one of the top-earning pharma CEOs for 2022 after the pharma giant took his total compensation to $33.0M handing him a ~36% pay hike for last year. Meanwhile, Johnson & Johnson (JNJ), whose former helmsman Alex Gorsky was the highest-paid pharma CEO in 2021, rewarded its new CEO Joaquin Duato, with a $13.1M package, indicating a ~51% decline in the company’s top executive pay. Gorsky relinquished his CEO role in 2022 after a decade-long tenure as its chairman and CEO, while Bourla, 61, is now serving in…
Recommended by Daniel Dubrovsky Get Your Free Equities Forecast Global market volatility was on edge this past week as financial-related stocks disproportionately suffered. On Wall Street, the Dow Jones fell -0.15%, but the tech-heavy Nasdaq soared 4.41%. Across the Atlantic, the DAX 40 and FTSE 100 sank -4.28% and -5.33%, respectively. This is as Japan’s Nikkei 225 fell -2.88% while Hong Kong’s Hang Seng Index rose 1%.Regional banks were feeling the pinch of Silicon Valley Bank’s collapse earlier this month. Despite receiving a financial lifeline from larger banks, Frist Republic Bank shares collapsed over 70% over the past 5 trading…
5/5 © Reuters. People attend a demonstration to protest the use by French government of the article 49.3, a special clause in the French Constitution, to push the pensions reform bill through the National Assembly without a vote by lawmakers, in Nantes, France, March 18 2/5 By Dominique Vidalon PARIS (Reuters) -President Emanuel Macron faces a critical moment on Monday when the National Assembly is due to vote on no-confidence motions filed after his government bypassed parliament on Thursday to push through an unpopular rise in the state pension age. The move, which followed weeks of protests against the pension…
The Japan defence ministry adds that the missile flew to an altitude of 50km and covered a range of 800km before splashing into the sea.The provocations and boldness continues from North Korea and the latest one is another apparent protest to the ongoing military exercise between South Korea and the US. Source link