Author: FX

© Reuters. FILE PHOTO: Logos of Swiss bank UBS and Credit Suisse in Zurich, Switzerland March 20, 2023. REUTERS/Denis Balibouse/File Photo (Reuters) – Switzerland’s Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the Financial Times reported on Sunday. The Bern-based prosecutor is looking into potential breaches of Swiss criminal law by government officials, regulators and executives at the two banks, which agreed on an emergency merger last month, the report said citing the authority. There were “numerous aspects of events around Credit Suisse” that warranted investigation and which needed to be analysed…

US DOLLAR TECHNICAL OUTLOOK:The U.S. dollar, as measured by the DXY index, fell during the first three months of the year, with prices currently challenging a major technical support zoneHeading into the second quarter, the risk of a breakdown has increasedDownload our full quarterly US dollar forecast for a more comprehensive view of the outlook Recommended by Diego Colman Get Your Free USD Forecast Most Read: Euro Q2 Fundamental Forecast: Recovery May Continue but Upside Will Be LimitedThe U.S. dollar, as measured by the DXY index, was on a roller coaster ride during the first three months of the year.…

By Liliana Salgado LITTLE ROCK, Arkansas (Reuters) – A violent storm packing high winds and heavy rains ripped through Southern and Midwestern sections of the United States as it headed east on Saturday, leaving at least 22 dead and scores injured, according to officials and media reports. At least five people were killed in Arkansas, according to officials, as first responders sifted through debris for more possible victims after tornadoes sliced through the state on Friday. Officials also reported four deaths in Illinois and three in Indiana. Meanwhile, the Tennessee Department of Health confirmed seven weather-related deaths in McNairy County,…

Justin Sullivan/Getty Images News Tesla’s (NASDAQ:TSLA) Solar Roof technology has fallen far short of the company’s installation targets, energy consultants at Wood Mackenzie said in new research released this week. Tesla (TSLA) has installed only 3,000 of its Solar Roof systems in the U.S. since the product’s launch in 2016, Woodmac estimated, adding up to a combined capacity of nearly 30 MW. The company had set a target of manufacturing 1,000 Solar Roofs weekly in 2019 and installing 1,000 systems per week in early 2020. Average weekly Tesla Solar Roof installations in the U.S. totaled just 21 in 2022, with…

2/2 © Reuters. FILE PHOTO: U.S. President Donald Trump delivers an update on the so-called Operation Warp Speed program in an address from the Rose Garden at the White House in Washington, U.S., November 13, 2020. REUTERS/Carlos Barria/File Photo 2/2 By David Morgan WASHINGTON (Reuters) – Many Republicans in the U.S. Congress have responded to Donald Trump’s looming Tuesday arraignment by characterizing the criminal justice system as corrupt, in accusations that parallel their earlier broadsides against the nation’s elections after the former president’s 2020 defeat.     Trump and his allies in the House of Representatives and Senate have used rhetoric…

For most of Q1 2023 WTI crude oil prices oscillated between two very crucial levels as traders attempted to gauge the longer-term direction of the commodity. The level of resistance at $82.50 provided a solid ceiling, while the upper band of the $67 – $72 target zone to replenish SPR supplies provided support for most of the quarter, until we saw a late push, deeper into the target range, towards $67 where prices struggled to achieve a daily close below that level. While this article concentrates on oil’s technical landscape, the oil market is heavily influenced by fundamentals like demand…

MON: Japanese Tankan Survey (Q1), Caixin Manufacturing PMI Final (Mar), EZ/UK/US Final Manufacturing PMI (Mar), US ISM Manufacturing PMI (Mar).TUE: RBA Announcement, South Korean CPI (Mar), US Durable Goods R (Feb).WED: RBNZ Announcement; Hong Kong Market Holiday, EZ/UK/US Final Services and Composite PMI (Mar), US ADP Employment (Mar), US ISM Services PMI (Mar).THU: Chinese Caixin Services PMI (Mar), Canadian Ivey PMI (Mar), Australian Trade Balance (Feb).FRI: Good Friday Global Market Holiday, US Jobs Report (Mar).NOTE: Previews are listed in day-orderJMMC (Mon): The OPEC+ Joint Ministerial Monitoring Committee (JMMC) is set to discuss current market conditions and the outlook on Monday.…

Did you spot the triple top in gold Gold Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn’t corrode, and the material allo Gold is the most widely traded and important…

Love Employee Pfizer’s (NYSE:PFE) acquisition of Seagen (NASDAQ:SGEN), announced in March, is expected to complement the pharma giant’s current portfolio of oncology therapies. Seagen focuses on antibody-drug conjugates (ADCs), a technology that the company says can “harness the targeting power of antibodies to deliver small molecule drugs to the tumor.” The biotech has three marketed ADCs: Adcetris (brentuximab vedotin), Padcev (enfortumab vedotin), and Tivdak (tisotumab vedotin). They are approved for various types of cancer. In addition, it markets a non-ADC, Tukysa (tucatinib), which is approved for breast and colorectal cancers. On March 13, Pfizer (PFE) said it would acquire Seagen…

EUR/USD FORECAST:The euro continued to strengthen against the U.S. dollar during the first three months of the yearHeading into the second quarter, EUR/USD is likely to remain in an upward trajectoryDownload our full quarterly euro forecast for a more comprehensive view of the common currency’s outlook Recommended by Diego Colman Get Your Free EUR Forecast Most Read: GBP/USD Challenges Major Confluence Resistance, Bearish Reversal in PlayThe euro gained ground against the U.S dollar during the first three months of 2023, extending its rebound that began in October of last year, though its advance did not follow a straight line and…