Author: FX
Have a look at the chart of Sandisk.This company was once a sleepy maker of solid-state drives, memory cards and flash drives. You’re likely to have an old stick drive in a cupboard somewhere or one of their insertable memory chips in an old phone or digital camera.At this time last year, it was trading at $38 per share after a spinoff from Western Digital. That gave it a market cap of $7.3 billion.Jump ahead to today and that’s jumped to $265 billion on an incredible scramble to buy memory. In the first quarter, the earnings per share were $23.41…
Brown Brothers Harriman’s (BBH) Elias Haddad reports that USD/JPY’s test of 160.00 has heightened intervention risks, with Japanese authorities already having spent a record amount to cap the pair near that level. Governor Ueda’s more hawkish tone and market pricing for further Bank of Japan (BoJ) tightening suggest a supportive backdrop for the Japanese Yen (JPY) over the coming months.Yen supported by BoJ tightening bias”USD/JPY tested 160.00, raising intervention risks. Remember, Japanese authorities purchased a record ¥11.735 trillion in the period from April 28 through May 27 to stem the surge in USD/JPY. That underscores their determination to keep a…
Longer war increases likelihood of second-round effectsI don’t see second-round effects yetThe balance of risks has clearly deterioratedECB’s Elderson warned that a prolonged conflict in the Middle East increases the risk that today’s energy-driven inflation shock evolves into broader and more persistent price pressures, reinforcing expectations that the ECB will raise interest rates at its June meeting.Elderson said that a longer war would increase the likelihood of so-called “second-round effects”, a scenario in which higher energy costs spread into wages, services, and other parts of the economy. However, he stressed that he is not seeing clear evidence that such effects…
The New Zealand Dollar (NZD) depreciates for the third consecutive day against a stronger US Dollar (USD) on Wednesday, hitting lows below 0.5900. The Kiwi is showing the weakest performance among major currencies with tensions between the US and Iran crushing risk appetite, and US data endorsing expectations of Federal Reserve (Fed) rate hikes.The US military targeted Iran’s Qeshm Island following attacks from Iran that produced significant damage and several wounded people at Kuwait’s International Airport. Beyond that, Al Jazeera news agency has reported an Israeli attack on the outskirts of Beirut, which puts the fragile ceasefire under significant pressure.Geopolitical…
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There are just a couple of expiries to take note of on the day, as highlighted in bold below.The first being for EUR/USD at the 1.1625 level. The expiries don’t tie to any technical significance but could act as a bit of a magnet for price action in the session ahead. That as the overall market mood continues to stay more tepid and be on edge awaiting further US-Iran developments. War or not war. Deal or no deal. We are pretty much caught in limbo still since last week.As such, dollar sentiment is keeping more cagey and that’s not seeing…
Bitcoin is testing major support as oversold charts, ETF outflows, and Friday’s jobs report keep traders on edge this week. Source link
Australian Bureau of Statistics (ABS) showed that Australia’s economy grew 0.3% in Q1 2026, falling short of the 0.5% gain markets had anticipated and slowing sharply from the 0.9% pace recorded in the December quarter. Annual growth held at 2.5% (y/y), also below the 2.6% consensus, as a record surge in data centre imports, weather-driven disruptions to mining exports, and the expiry of household energy subsidies all weighed on the result. Key Takeaways Annual GDP growth: 2.5% (y/y) (expected 2.6%, prior 2.6%) Quarterly GDP growth: 0.3% (q/q) (expected 0.5%, prior 0.9%) Private investment: Rose 3.6%, led by a 16.3% surge…
Gold (XAU/USD) extends the previous day’s late pullback from the vicinity of the $4,550 level and attracts some follow-through selling during the Asian session on Wednesday. Crude Oil prices rise for the third straight day amid renewed hostilities in the Middle East, reviving inflationary concerns and reaffirming market bets that interest rates would stay higher for longer. This, in turn, is seen as undermining the non-yielding yellow metal. Furthermore, geopolitical uncertainties assist the US Dollar (USD) in preserving its weekly gains, which turns out to be another factor that keeps the commodity depressed below the $4,500 mark, near the lower…
Bayer says no plans to restructure despite litigation threat Source link