Author: FX
The Wall Street Journal (gated) with the report.In brief, the Journal citing ‘people familiar’:The Biden administration is considering entirely cutting off Chinese telecommunications giant Huawei Technologies Co. from U.S. suppliers over national-security concerns by tightening export controls targeting the firmThe background to this is that Huawei was placed on the US Department of Commerce’s “Entity List” during the previous administration. The list is of foreign companies said to be national security threats. Huawei was later supplied technology by US firms under licences issued by the Commerce Department. Supply was permitted as long as it wouldn’t put national security at risk.…
USD/JPY bulls eye a 50% mean reversion towards 130.30 that meets the prior support. The outlook is bearish for the day ahead with a test of 130.00 eyed ahead of the Federal Reserve on Wednesday. USD/JPY is under pressure in Tokyo but the bulls are moving in from a support area as the following charts will illustrate. Meanwhile, the US Dollar rose on Monday, ahead of the Federal Reserve’s two-day policy meeting which is likely to keep traders at bay and USD/JPY range bound until the outcome of the meeting. Nevertheless, the market structure is as follows: USD/JPY H1 charts The…
Australian Dollar, AUD/USD, China PMI, Retail Sales, Credit, CPI, RBA – Talking PointsThe Australian Dollar inched north on improving Chinese PMIAUD/USD had been under pressure post soft retail sales and credit dataTuesday next week will see the RBA decide on rates. Will it impact AUD/USD? Recommended by Daniel McCarthy Get Your Free AUD Forecast The Australian Dollar recalibrated after Chinese PMI showed signs of an economic recovery which followed domestic data that revealed an easing of conditions.Chinese manufacturing PMI for December printed in line with expectations at 50.1 and the non-manufacturing read came in at 54.4, way above the 52.0…
S&P 500, Nasdaq 100, US Dollar, Event Risk and FOMC Rate Decision Talking Points:The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDJPY Bullish Above 132.00Risk trends shuddered to start this trading week, but the turn from the S&P 500 and the edging higher from a Dollar in a very tight range is likely misleadingAnticipation for the FOMC rate decision Wednesday is likely forcing the market to ease excess exposure, but intent for trend likely awaits clarity from this key event Recommended by John Kicklighter Get Your Free Top Trading Opportunities Forecast We are in a vortex of anticipation with…
© Reuters. FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, arrives on the day of a hearing at Manhattan federal court in New York City, U.S. January 3, 2023. REUTERS/David D By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Monday said the names of two people who helped guarantee bail for indicted FTX cryptocurrency exchange founder Sam Bankman-Fried should be made public, but put his ruling on hold pending an expected appeal. U.S. District Judge Lewis Kaplan in Manhattan ruled in favor of several media…
Stocks lost ground on Monday, as investors booked profits after last week’s advance. The slide came ahead of a busy week that includes the Federal Reserve’s interest rate decision and a flood of high-profile earnings reports. The Nasdaq led the retreat, falling by about 2%. The decline included a bout of profit-taking in the EV sector. Price cuts from Ford (F) prompted selling throughout the sector. This included slides in GM (GM), Tesla (TSLA), Fisker (FSR) and Rivian Automotive (RIVN). Chinese stocks also took a step lower. Alibaba (BABA) ranked among the decliners, falling amid reports that the company might…
> Japan preliminary December Industrial Production -0.1% m/m (expected -1.2%) more to come ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE READING BELOW Source link
SlavkoSereda/iStock via Getty Images Energy (NYSEARCA:XLE) was Monday’s poorest performer among the S&P 11 stock market sectors, -2.3%, as oil prices faded ahead of the OPEC+ meeting later this week, with traders appearing reluctant to press positions ahead of the Wednesday meeting of the Joint Ministerial Monitoring Committee, which reviews the oil market. Front-month Nymex crude (CL1:COM) for March delivery settled -2.2% to $77.90/bbl, and March Brent crude (CO1:COM) closed -2% at $84.90/bbl, extending declines from last week. Meanwhile, U.S. natural gas (NG1:COM) finished -6% to $2.677/MMBtu, its lowest settlement since mid-April 2021. ETFs: (NYSEARCA:USO), (BNO), (UCO), (SCO), (DBO), (DRIP),…
Valeo Pharma reports Q4 results Source link
2/2 © Reuters. FILE PHOTO: A Gucci sign is seen outside a shop in Paris, France, January 27, 2023. REUTERS/Sarah Meyssonnier 2/2 By Mimosa Spencer PARIS (Reuters) -Sabato De Sarno, newly appointed by Kering (EPA:) to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say – a delicate task, given the emphasis executives have also put on the label’s timeless appeal. De Sarno, a senior fashion designer from Valentino, is tasked as creative director with reviving the fortunes of the brand that accounted for two-thirds of Kering’s profits in 2021. An emphasis on classics…