Author: FX
Dollar Despite signs of resilience in the labor market, attention is now turning to worrying inflation and developments in the US banking sector. More and more banks are under pressure, because credibility and trust are increasingly faltering. As the banking crisis develops, US regulators will eventually be forced to take action, which could result in the collapse of more banks. PacWest and First Horizon are now in the spotlight. The disinflationary process is expected to lose momentum in the April inflation report, which could delay some prospects for a US central bank rate cut. US headline inflation figures are expected…
Juanmonino The Industrial Select Sector (XLI) fell for the second week in a row, ending -0.49%. XLI and was among the eight, out of the 11 S&P 500 sectors, which closed the week in red. The SPDR S&P 500 Trust ETF (SPY) sunk -0.79% amid a week which saw the Federal Reserve hiking rates by 25 basis points, and a banking crisis which keeps seeing new events, this time First Republic Bank being taken over by JPMorgan. The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +11% each this…
Paul Morigi Berkshire Hathaway (NYSE:BRK.B) (BRK.A) Q1 operating earnings gained 13% Y/Y as insurance underwriting and investment income surged, the company said Saturday. The company bought back ~$4.4B of its common stock during the quarter, compared with ~$2.6B in the last quarter of 2022. The investment giant had $130.6B of cash and short-term securities on its balance sheet as of March 31, 2023, up slightly from ~$128.7B at Dec. 31, 2022. Q1 operating earnings of $8.07B vs. $6.71B in Q4 2022 and $7.16B in the year-ago quarter. Insurance float was $165B at March 31, 2022, about even ~$164B at Dec.…
© Reuters. People light up candles to pay tribute for victims of Belgrade school mass shooting in Podgorica, Montenegro, May 5, 2023. REUTERS/Stevo Vasiljevic BELGRADE (Reuters) -A girl shot in the head in a school shooting in Serbia in which eight pupils and a guard were killed is still in critical condition, while two boys who were being treated in the same hospital have been released, RTS state TV reported on Saturday. The country is in shock and mourning after two mass shootings: the school massacre in Belgrade on Wednesday, and a rampage outside the city on Thursday in which…
EUR/USD ANALYSIS & TALKING POINTSEuro strength looks to be fading as we enter yet another week with more questions than answers.US CPI the focus for the week. Will inflation support stellar NFP?Daily chart could be on the precipice of a rising wedge breakout. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL FORECAST: BEARISHThe euro is up almost 3% against the US dollar year-to-date with a strong push from a hawkish European Central Bank (ECB) and comparatively less aggressive Fed. Things changed last Friday when the US Non-Farm Payroll (NFP) report once again reinforced the tight labor market…
William Penn Bancorporation launches buyback of 1.3M shares Source link
MON: UK Bank Holiday, EZ Sentix Index (May), German Final CPI (Apr), Fed SLOOSTUE: Riksbank Minutes, NBH Announcement, EIA STEO, Chinese Trade Balance (Apr)WED: Norwegian CPI (Apr), US CPI (Apr)THU: BoE Announcement, BoJ Summary of Opinions, OPEC MOMR, Chinese Inflation (Apr), US PPI (Apr)FRI: New Zealand Inflation Forecasts (Q2), UK GDP (Mar/Q1), French CPI (Apr), University of Michigan Prelim. (May)NOTE: Previews are listed in day-orderFed Senior Loan Officer Survey (Mon): The Fed’s quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices will show that lending standards at midsized banks tightened in the latest period, Fed Chair Powell revealed at…
Hi everyone, if you’re in the Johannesburg area this week, I would love to meet up. I’ll be at the Finance Magnates Africa Summit from May 8-10.It’s a free event and you can register to attend here.If you’re looking to meet up, the best way to reach me is probably via my LinkedIn page. Source link
SlavkoSereda/iStock via Getty Images Crude oil futures rose Friday to take a bit of the sting off a downbeat week that sent the U.S. contract to its lowest level since late 2021, driven by fears of a recession and risk aversion prompted by turmoil in U.S. banking. Yet the underlying oil market looks resilient, as China is attracting cargoes as domestic travel rebounds, and traders expect the country’s crude purchases will remain high in the coming months. If Chinese crude oil imports – which nearly reached their June 2020 record level in March – post a strong April report, it…
It was a crazy busy week for forex traders as they had to balance the release of a cornucopia of top-tier economic indicators, including the latest U.S. employment update and THREE major central bank policy statements. AUD and NZD took the top spot as risk sentiment shifted mid-week, while “dovish hikes” from the Fed and ECB weighed on the Greenback and the Euro into a battle for the worst performer of the week. USD Pairs Overlay of USD vs. Majors Chart by TV A combination of mixed labor market numbers, regional bank contagion fears, and recession concerns dragged the dollar…