Author: FX
What you need to take care of on Tuesday, December 28: The US Dollar extended its Friday slide, ending Tuesday with modest losses against most major rivals. Softening US inflation, as per data released last week, coupled with Chinese news to boost the market sentiment after a long weekend. China upwardly revised its Gross Domestic Product (GDP) estimate for 2021, bringing it up to 8.4% from 8.1%. Additionally, the government continues to ease covid-related restrictions, which will mitigate the negative impact limitations had on the economy. Finally, the China Immigration Administration announced it would resume issuing visas for mainland citizens…
© Reuters. FILE PHOTO: Adam Aron, Chairman of the Board and CEO, AMC Entertainment, speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S., October 18, 2021. REUTERS/David Swanson (Reuters) – AMC Entertainment (NYSE:) Holdings Chief Executive Officer Adam Aron on Tuesday asked the theater chain operator’s board to freeze his compensation next year because of a sharp drop in the company’s shares. “I do not want ‘more’ when our shareholders are hurting,” Aron, who earned $18.9 million in 2021, said in a series of tweets urging other top AMC executives to also forego their hikes. Shares…
Volatile session for Silver that is facing difficulties to consolidate above $24.00. Higher US yields and a mixed dollar weighs on XAU/USD limiting XAG/USD. Price is biased to the upside but it needs to break $24.25/30. Silver is having a positive but volatile day on Tuesday. Recently XAG/USD rebounded from a session low at $23.80 to $24.28, matching last week high and then pulled back. It is hovering around $24.00 with a bullish bias, still facing important resistance ahead. The improvement in risk appetite at the beginning of the week boosted commodities, particularly after last week’s US inflation data. At…
Putin signed a decree that bans the sale of Russian oil to countries who imposed the oil price cap. It begins Feb 1, 2023 and continues until July 1, though Feb 1 won’t necessarily be the date for oil products.(Update: I’m told this only bans contracts that use the floor language, not necessarily oil exports to the countries that have formal bans.)This was rumored so it’s not a big surprise. Oil is higher today after Russia talked about falling production this year as it adjusts to sanctions and the ban. WTI crude oil Crude Oil Crude oil is the most…
USD, JPY, Euro Talking Points:This article takes a step back to look at three top FX themes for 2023.Does the Fed pivot and what might that pivot look like? The bigger change may be at the BoJ but focus will remain on the ECB and BoE as each struggles with +10% inflation.The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section. Recommended by James Stanley Get Your Free USD Forecast It’s been a big year for FX markets. The US Dollar came into…
Hirurg/iStock via Getty Images BetMGM’s approval for online betting in Massachusetts is a sign of things to come, according to Max Bichsel, VP of Sports of Gambling.com Group (GAMB). Bischel told Seeking Alpha that the approval in Massachusetts represents an important step both in terms of addressable market within the state and its potential to regulate efficiently and effectively. If it is able to do so, many states yet to approve online sports wagering could model subsequent legislation on the policies pursued by the Bay State. “As we look into 2023, we will have the Ohio market launching on January…
© Reuters. Apple (AAPL) iPhone Pro supply slowly continuing to improve — JPMorgan By Sam Boughedda JPMorgan analysts maintained an Overweight rating on Apple Inc (NASDAQ:) shares in a note Tuesday, telling investors supply for the iPhone Pro models continues to improve slowly. “In Week 16 of our Apple Product Availability Tracker, supply for the iPhone Pro models continues to improve slowly, with lead times moderating further in China, and a majority of SKUs are now available for in-store pickup across all geographies, including China for the first time since product launch,” the analysts wrote. They added that lead times…
Prior was +10.4%October prices -0.5% vs -1.1% expectedPrior m/m -1.2% (revised to -1.3%)Non-seasonally adjusted -0.8% m/mThe national price index from the FHFA was also released and was flat on the month and up 9.8% y/y.I’m concerned about housing for housing’s sake but not for the greater US economy. The y/y numbers show just how few homeowners are underwater on their purchase. The problem is that people are afraid to move because they’ll have to get a mortgage at a much higher rate.ADVERTISEMENT – CONTINUE READING BELOW Source link
Apple 'unlikely' to use foldable iPad as replacement for iPad mini in 2025 Source link
© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. REUTERS/Brendan McDermid (Reuters) – U.S. stock index futures rose on Tuesday after China further relaxed its COVID-19 curbs, fuelling hopes of a recovery in the world’s second largest economy. China said it would stop requiring inbound travelers to go into quarantine starting Jan. 8, a major step in reopening its borders, adding that it would also downgrade the seriousness of COVID as it has become less virulent. U.S.-listed shares of Chinese firms such as JD (NASDAQ:).Com Inc, Alibaba…