Author: FX

Apple,Inc., an American multinational technology company specializing in the design, manufacture, and sale of smartphones (iPhone), personal computers (Mac), tablets (iPad), wearables and accessories (Apple Watch, AirPods, Apple Beats), TVs (Apple TV) and other varieties of related services (iCloud, digital content stores, streaming, licensing services), shall release its Q2 2023 earnings results on 4th May (Thursday), after market close. What lies ahead for this conglomerate with the largest market capitalization at over $2.6T? Fig.1: Apple Inc. Revenue by Product Category. Source: MacRumors In the previous quarter, Apple sales revenue recorded its largest decline since 2016, by over -5% compared to…

EUR/USD ANALYSIS & TALKING POINTSECB rate hike looks to inflation data for guidance as money markets require more conviction between a 0.25% and 0.50% increment.USD receives additional support from souring risk sentiment.Technical analysis favors euro downside on both weekly and daily timeframes. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL FORECAST: BEARISHThe euro head into the central bank focused week on the backfoot but could change in the buildup to the European Central Bank (ECB) rate decision (see economic calendar below). Key metrics including eurozone core inflation and credit data will give markets valuable input to analyze…

JP Morgan, PNC said to bidding for First Republic – WSJ Source link

© Reuters. FILE PHOTO: Flags adorn the Montana State Capitol in Helena, Montana, U.S. April 26, 2023. REUTERS/Mike Clark (Reuters) – Montana’s governor on Friday enacted a Republican-backed ban on gender-affirming medical care for transgender children, days after a transgender lawmaker protesting the bill was barred from the floor of the state legislature, sparking a national furor. The Republican House majority voted to censure Zooey Zephyr, a Democrat, on Wednesday, excluding her from the House chamber for the rest of the legislative session for saying on April 18 that lawmakers backing the bill would have blood on their hands. The…

Resurfacing banking sector woes, U.S. recession fears, and debt ceiling concerns kept risk-off flows in play for the most part of the week, weighing on higher-yielding currencies. Despite their safe-haven appeal, the dollar and the yen still struggled to stay afloat, as U.S. data fell short of estimates while a cautious BOJ decision loomed. The British pound took the top spot this week, likely due to a lack of negative headlines from the U.K., allowing traders to continue to ride the bullish vibes sparked last week from a strong U.K. inflation update. USD Pairs Overlay of USD Pairs: 1-Hour Forex Chart…

It appears as though the clock ran out on First Republic Bank.Reuters, citing sources, reports that the US Federal Deposit Insurance Corporation is preparing to place the struggling bank under receivership “imminently”.It’s no surprise as reports on Friday suggested that time was running out and that no private sector-led rescue was coming. Various reports said there were banks who were prepared to buy and run FRC within the FDIC resolution mechanism.Shares of the company fell 43% on Friday and have tumbled precipitously this week to $3.51 from $16 at the start of week. This week’s breakdown was precipitated by a…

Share: WTI is set to post back-to-back weekly losses, despite gaining more than 2% on Friday. US crude oil output shortages were outweighed by gasoline demand; therefore, WTI rose. Western Texas Intermediate (WTI), the US crude oil benchmark, posted gains of more than 2% after US companies related to the energy sector exceeded earnings estimates. Furthermore, a government report flashed increased demand for fuel while crude oil output decelerated. At the time of writing, WTI is trading at $76.61. Even though WTI is registering daily gains, it would finish the week with losses of 1.67%, extending its fall…

Traders were in a fickle mood throughout the week, as sentiment was influenced by earnings data, debt ceiling concerns, banking sector jitters, and Fed tightening expectations. Equity indices and commodities managed to pull up around the middle of the week thanks mostly to a positive earnings turnout from tech companies, as well as legislation that would allow Congress to raise the debt ceiling. Notable News & Economic Updates: ? Broad Market Risk-on Arguments Chinese President Xi reportedly talked to Ukraine’s Zelenskiy in a “long and meaningful” phone call discussing importance for parties to seek peace Alphabet Q1 results surpassed both…

Share: USD/JPY skyrocketed after BoJ’s dovish decision and high US core PCE data. USD/JPY Price Analysis: Rallied more than 200 pips, set for a pullback, before challenging YTD high, The USD/JPY rose sharply after the first monetary policy decision by the Bank of Japan (BoJ) new Governor Kazuo Ueda struck a dovish tone, a greenlight for US Dollar (USD) buyers, against the Japanese Yen. (JPY). Therefore, the USD/JPY extended its gains of more than 1.73%, trading at 136.27. USD/JPY Price Action After the US inflation data release, the USD/JPY skyrocketed, past the last week’s high of 135.13, and…

Share: USD/MXN to finish the week almost flat, with gains of 0.70%. Data from the United States justified a 25 bps hike by the Fed at the May meeting, though it did not boost the US Dollar. USD/MXN Price Analysis: Downward pressured below 18.00; otherwise, expect a rally to the 20-DMA at 18.10000. The Mexican Peso (MXN) appreciates during the last trading day of the week, as shown by the USD/MXN tumbling 0.25%, amidst a risk-on impulse due to US stocks posting solid earnings. US data flashed signs that inflation is too high, a green light for another…