Author: FX
jxfzsy/iStock via Getty Images The Citi quantitative team is still confident about its Oversold Strategy, despite a second stumble in returns this year. “Our systematic Oversold Strategy posted its second loss (-4%) this year in May, as the equity market is following more closely on the credit market,” Hong Li, head of U.S. equity quantitative trading strategy, wrote in a note. “However, we believe that the continued uncertainty is still conducive to the strategy going forward, as it is not predicated on the overall market being oversold.” Li provides attractive oversold stocks that have a Citi Buy rating. The stocks…
5/5 © Reuters. Soccer Football – Champions League Final – Manchester City v Inter Milan – Ataturk Olympic Stadium, Istanbul, Turkey – June 10, 2023 Manchester City’s Kyle Walker, Rico Lewis and Phil Foden celebrate after winning the Champions League REUTERS/Dilara Senka 2/5 By Martyn Herman ISTANBUL (Reuters) -Manchester City finally extended their domestic domination across the continent as they beat Inter Milan 1-0 to win the Champions League for the first time and complete a rare treble on a Saturday night of frayed nerves . Pre-match talk of a stroll to European soccer’s most-cherished crown proved off the mark,…
onurdongel/E+ via Getty Images For the week ending June 9, the Industrial Select Sector (XLI) gained (+1.45%) and was among the seven, out of the 11 S&P 500 sectors, which closed the week in green. The SPDR S&P 500 Trust ETF (SPY) also rose (+0.46%). The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +9% each this week. YTD, all these 5 stocks are in the green. Symbotic (NASDAQ:SYM) +28.86%. The robotics warehouse automation company saw its shares surge the most on Wednesday (+12.68%). YTD, the stock has soared…
© Reuters. Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying of different regulators in Europe and work with the different governments. In an interview with Cointelegraph, Anders noted that for the crypto framework stated in MiCA to be accepted in most European countries like Sweden, a bit of “pushing” might be required. He stated that MiCA gives the crypto industry a framework to operate with and is expected to bring clarity.Continue Reading on Coin…
GOLD PRICE, CHARTS AND ANALYSIS:GOLD FORECAST: NEUTRAL Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter READ MORE: Bank of Canada Comes Out Swinging with 25bps Hike, USD/CAD SlidesGold prices look set to finish the week higher and yet the move can be described as anything but convincing. The precious metal fluctuated between the $1940-$1970 handles for the majority of the week as continued repricing of rate hike probabilities for the US Federal Reserve weighed on Golds attempted recovery.The biggest shock to markets this week was delivered…
MON: NY Fed Survey of Consumer Expectations.TUE: OPEC MOMR, German Final CPI (May), UK Jobs Data (Apr/May), German ZEW Survey (Jun), US CPI (May).WED: FOMC Announcement, IEA OMR (2024 Forecast), UK GDP (Apr), Swedish CPIF (May), EZ Industrial Production (Apr), US PPI (May), New Zealand GDP (Q1).THU: ECB Announcement, PBoC MLF Announcement, Eurogroup meeting, Japanese Trade Balance (May), Australian Job Report (May), Chinese Retail Sales and Industrial Production (May), US Philly Fed (Jun), US Retail Sales (May).FRI: BoJ Announcement, ECB TLTRO III.5-10 Repayment, EZ Final CPI (May), Uni. of Michigan Prelim. (Jun), Quad Witching.NOTE: Previews are listed in day-orderUK Jobs…
© Reuters. Smoke rises from a wildfire in Tumbler Ridge, British Columbia, Canada, in this screen grab taken from a video, June 8, 2023. BC Wildlife Service/Handout via REUTERS By David Ljunggren OTTAWA (Reuters) – The Canadian province of Quebec says rain and outside help could help win the fight against more than 100 forest fires producing plumes of smoke that have left cities on the Atlantic seaboard gasping for breath. Officials say that by Monday there will be around 1,200 fire fighters, including more than 100 from France, battling blazes across a heavily wooded province of just 8.5 million…
Warning: DNNGY is at high risk of cutting its dividend Source link
© Reuters The allegations against Binance and Coinbase (NASDAQ:) by the U.S. Securities and Exchange Commission have substantial ramifications for the decentralized finance (DeFi) ecosystem, and they are far from positive. DeFi has developed as a promising area within the crypto industry, aiming to disrupt established financial systems and deliver financial services in a decentralized manner. However, the latest charges against these centralized exchanges raise doubts about the future of DeFi. By targeting Binance and Coinbase for suspected violations of securities laws and operating unregistered exchanges, the regulator seems to be imposing its authority on an industry that thrives on…
SlavkoSereda/iStock via Getty Images Crude oil prices failed to sustain their initial lift following Saudi Arabia’s decision to cut production, but Goldman Sachs’ Jeff Currie sees the move eventually prompting a draw in crude inventories, sending prices into the low $90s before the end of the year. “You’re going to be seeing substantial physical inventory draws because of these OPEC production cuts, particularly in the third and fourth quarter, [which will] push us up into the low $90s,” Currie told Bloomberg this week. Higher interest rates have made it too expensive to keep oil in storage, and investor interest likely…