Author: FX

Crude Oil, US Dollar, WTI, FOMC, Fed, API, Crack Spread, Volatility – Talking PointsCrude oil has had a tumultuous week so far and volatility may continueThe Fed still has its work cut out and further tightening might be on the cardsInflation and inventory data probably haven’t helped crude. Where to for WTI? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Crude oil sunk to a 3-month low overnight after headline US inflation hit forecasts, coming in at 6.0% year-on-year and 0.4% month-on-month. Monthly core CPI was…

Michael M. Santiago SVB Financial (NASDAQ:SIVB) confirmed that Silicon Valley Bank sold a portfolio of securities with a book value of $23.97 billion to Goldman Sachs (GS) last week before the bank was shut down by the FDIC. The sale of the portfolio to Goldman resulted in a net loss for Silicon Valley Bank of about $1.8 billion, according to an 8-K filing on Tuesday. The portfolio was sold to Goldman at a negotiated price. The disclosure of the buyer of the portfolio comes after WSJ reported that Goldman was the unidentified buyer on Monday. SVB Financial (SIVB) first disclosed…

© Reuters. FILE PHOTO: The logo of KPMG is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau (Reuters) – KPMG’s U.S. boss, Paul Knopp, said the accounting firm stood behind its audits of Silicon Valley Bank and Signature Bank (NASDAQ:), the Financial Times reported on Tuesday. Knopp said KPMG’s audit work considered all the facts available at the time and that “market-driven events” in the intervening days led to the banks’ failures, the report said. “It’s important to recognize that audit opinions, which only address the financial statements…

EURUSD, H1 US headline CPI increased 0.4% in February and the core rose 0.5%. The data are close to expectations though the latter is a little hotter than expected. These follow respective gains of 0.5% and 0.4%, in January and 0.1% and 0.4% in December. The 12-month headline pace slid to 6.0% y/y from 6.4% y/y, while the core rate was 5.5% y/y from 5.6% y/y. The deceleration in both is good news for the FOMC. Meanwhile, Bloomberg reported Powell’s “super core” rose 0.5% versus 0.36% previously. For the guts of the report:- Energy prices dipped -0.6% after bouncing 2.0%…

He says that the collapse of SVB and the market turmoil that ensued after is just “part of the process” as the world adjusts to tighter financial conditions following years of easy money.”This is part of the process of the knob being turned to tighten financial conditions to make sure that we are on our way to normalising a higher interest rate world. But there might well be surprises, there might well be reactions.”It’s easier to just say it as it is when you’re part of a flock that must be protected at all costs by lawmakers and policymakers alike.…

Share: Gold extended gains following the collapse of Silicon Valley Bank. The shifting expectations of US federal fund rates (FFR) are likely to see strong support for haven assets such as Gold, economists at ANZ Bank report. Strong demand for safe haven assets “The precious metals allure as a safe haven asset saw strong demand from investors. This was aided by a sharp reassessment of the direction of Fed policy. The market’s expectations of smaller rate hikes saw the 10y yield on Treasuries fall to a six-week low, while the USD erased its gains for the year.” “The…

In the past, trading often seemed to be exclusively for the intellectually savvy and financially capable individuals. Every now and then there are some renegades who break the mold and make it in their trading careers. However, up until in the past recent years, this narrative has been changing. Easier access to online trading, demo trading and online lessons have made it easier for people to understand what forex trading really is and what it is like to actually be trading. People realized that trading does not necessarily need to be very difficult and that it is not only exclusive…

I’m seeing a trend line breakout on silver’s short-term chart! Can the precious metal still go for a pullback before the reversal gains traction? Here are the correction levels I’m watching: Silver (XAG/USD) 1-hour Chart by TradingView Missed this strong bullish breakout on the hourly chart of XAG/USD? Silver might still need to retreat to nearby support levels to gather more bullish energy, so don’t miss a pullback if it happens! Stochastic is starting to make its way south after spending some time in the overbought region, which means that bears are taking control while bulls are feeling exhausted. The…

Gold, XAU/USD, US Dollar, Fed, SVB, DXY Index, Treasury Yields – Talking PointsThe gold price has held the high ground today after a volatile sessionThe US Dollar has been undermined by Treasury yields recoiling from peaksThe Fed has more than US CPI to consider next week. Where to for XAU/USD? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Gold made a six-week high overnight as the fallout from the failure of Silvergate Financial Corp., SVB Financial and Signature Bank continues to ricochet through markets.The US Dollar…

Altus Power says it has no exposure to Silicon Valley Bank Source link