Author: FX
Justin Sullivan Short sellers gained $14.3B in unrealized profit from betting against stocks within the global banking sector in March, a tumultuous month marked by three regional bank failures that sparked contagion fears, according to a recent report from analytics firm S3 Partners. About three-fourths of the $109.7B in total short selling took hold in U.S., Canadian and European bank stocks. Bearish bets on such equities accelerated 11.4%, or $12.8B, during the month. The tumult in the banking sector, triggered by the downfall of Silvergate Capital (SI), Silicon Valley Bank (OTC:SIVBQ) and Signature Bank (OTC:SBNY) all within one week, was…
Photofex/iStock Editorial via Getty Images The S&P 500 Materials moved +4.93% this week and the Materials Select Sector SPDR ETF (NYSEARCA:XLB) +5.01%. Overall market sentiment was positive, aided by no fresh news regarding the banking crisis and favorable economic data that strengthened the case for the Federal Reserve ending its rate-hiking campaign. Gold slipped around 0.5% this week, with Comex gold (XAUUSD:CUR) stopping just short of the $2,000 threshold. Demand was driven by a weaker dollar and lower bond yields as investors foresee a fall in interest rates. Meanwhile, iron ore futures (SCO:COM) closed around +3.7% for the five-day trading…
© Reuters The United States government plans to liquidate more than 41,000 (BTC) seized as part of a case connected to Silk Road creator Ross Ulbricht. A March 31 filing with U.S. District Court for the Southern District of New York regarding the sentencing of James Zhong stated U.S. government authorities had begun liquidating roughly 51,352 BTC seized in the Ulbricht case. According to the filing, officials sold roughly 9,861 BTC for more than $215 million on March 14, leaving roughly 41,491 BTC. Continue Reading on Coin Telegraph Source link
Japanese Yen Q1 RecapThe Japanese Yen has had an interesting Q1 to say the least with the Yen starting the quarter looking vulnerable against the Greenback. The US Federal Reserve looked set to continue on an aggressive hiking cycle while the Bank of Japan looked set to continue down its easy monetary policy path.February turned out to be a difficult month for the Yen as it posted steep losses against the US Dollar. The losses were compounded by the rising odds for a higher peak rate from the US Federal Reserve as US data came in better than expected for…
4/4 © Reuters. A sketch drawn by Kris Kashtanova (L) that the artist fed into AI program Stable Diffusion and transformed into the resulting image (R) using text prompts. Courtesy of Kris Kashtanova/Handout via REUTERS 2/4 By Tom Hals and Blake Brittain (Reuters) – Last year, Kris Kashtanova typed instructions for a graphic novel into a new artificial-intelligence program and touched off a high-stakes debate over who created the artwork: a human or an algorithm. “Zendaya leaving gates of Central Park,” Kashtanova entered into Midjourney, an AI program similar to ChatGPT that produces dazzling illustrations from written prompts. “Sci-fi scene…
XPeng announces vehicle delivery of 7,002 in March Source link
Vitalij Sova Bitcoin (BTC-USD) is on track for weekly gains of more than 3.5%, with the world’s largest cryptocurrency by market capitalization briefly crossing the $29K mark earlier in the week to hits its highest level since June last year. The advance has been due to a combination of factors, chief among them a renewed interest among investors in risky assets and growth areas such as technology stocks in the wake of shaken confidence in the traditional banking sector. Hopes of the Federal Reserve possibly ending its rate-hiking cycle have also helped sentiment. However, bitcoin (BTC-USD) began the week on…
Today is quarter end. The USD is ending the quarter mixed with declines vs the EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR)…
Share: A triple bottom in the EUR/USD daily chart remains in play but at a brisk of being negated. EUR/USD’s price action during the last couple of weeks created a double top, which could shift the pair’s bias. The Euro (EUR) drops from around weekly highs of 1.0925 on a buoyant US Dollar (USD) and on buyers’ failure to crack the YTD high at 1.0929. Nevertheless, a triple bottom in the daily chart is intact, at the brisk of being negated. At the time of writing, the EUR/USD is trading at 1.0842. EUR/USD Price action Failure to hold…
Share: US Department of Commerce reported that PCE was below estimates, spurring speculations for a Fed shift. Oil prices rise after output reduction at several oilfields in northern Iraq’s Kurdistan region. Western Texas Intermediate (WT), the US crude oil benchmark, is set to finish the week with more than 9% gains after touching a YTD low of $64.41. On Friday, WTI is trading at $75.60 PB, above its opening price by 1.74%. Wall Street finished the week with substantial gains. Inflation data in the United States (US) reported by the Department of Commerce showed that Personal Consumption Expenditure…