Author: FX
NiseriN/iStock via Getty Images The top trio of European-listed integrated oil companies – BP (BP), Shell (SHEL) and TotalEnergies (TTE) – currently trade at a more than 40% discount to their U.S. peers, according to analysts at Citi, who suggest the time might be right for a U.S. oil giant such as Exxon Mobil (NYSE:XOM) or Chevron (NYSE:CVX) to make a move. “The prize for the U.S. IOCs would look considerable, with value uplift coming through the ability to fund at a lower [cost of equity] as well as cost synergies that we estimate in [net present value] terms in…
Crypto bulls are back in action these days, but can ADA/USD sustain its rally past this key resistance level? Don’t forget that Cardano’s Djed stablecoin is set to launch soon, so we might see a bit more action in the coming days. Check out this upside barrier I’m watching. Cardano (ADA/USD) 1-hour Chart ADA/USD has been cruising with higher lows and higher highs inside an ascending channel visible on the hourly chart. Price recently bounced sharply off support and is closing in on the resistance again. Will it hold? Stochastic is suggesting a return in bearish vibes, as the oscillator…
Hong Kong equity markets have opened after the long Lunar New Year holiday (China mainland remains on holiday all this week). Hong Kong’s Hang Seng index rose circa 1.7% in the first hour of reopening tradeHang Seng Tech Index +2.4% in its first hourHas left behind a gap, will it fill?- (This chart is from our charting app, which is free and can be found at this link) Source link
USD/JPY holds lower ground as bears keep the reins for the third consecutive day. One-week-old symmetrical triangle restricts immediate moves. Downbeat RSI, bearish MACD signals favor sellers to refresh multi-month low. Buyers need validation from six-week-old descending trend line to retake control. USD/JPY licks its wounds around 129.40 as it seesaws near an intraday low during early Thursday. In doing so, the Yen pair consolidates the latest losses as a two-day losing streak. Even so, the quote prints mild losses while staying inside a one-week-old symmetrical triangle, between 128.50 and 131.00 by the press time. That said, the bearish MACD…
© Reuters. FILE PHOTO: People buy their lunches from street vendors in front of the headquarters of Bank of Japan in Tokyo, Japan, June 17, 2022. REUTERS/Kim Kyung-Hoon By Leika Kihara TOKYO (Reuters) – Bank of Japan policymakers were divided on prospects for achieving their 2% inflation target with some warning that it could take time for wages to rise sustainably, a summary of opinions from their latest meeting showed on Thursday. The divergence in views highlight the challenge policymakers face in determining whether the recent cost-driven rise in inflation will shift to one backed by robust demand and higher…
Win McNamee/Getty Images News Upbeat commentary from Elon Musk during the company’s Q4 earnings call helped Tesla (NASDAQ:TSLA) shares rebound sharply during Wednesday’s extended session. During the presentation, Musk offered his perspective on the state of the US economy, his presence on social media, Tesla’s (TSLA) position as an AI company, autonomous driving, and the automaker’s impact on the insurance industry. However, his most impactful statements were likely those that pertained to production and sales outlooks for the full year. To begin the presentation, Musk immediately downplayed concerns about demand deceleration, noting that price cuts have sparked unprecedented order levels.…
Data released from the UK’s Society of Motor Manufacturers and Traders (SMMT):December car production fell 17.9% y/yafter two straight months of growth in output Annual car production fell to the lowest level since 1956. 775,014 cars were made in Britain in 2022EV production is encouraging though:”These (total) figures reflect just how tough 2022 was for UK car manufacturing, though we still made more electric vehicles than ever before,” SMMT Chief Executive Mike Hawes said.-Info comes via Reuters reporting. Source link
The Bank of Japan’s Summary of Opinions is coming out in stages. Key points It will take time for Japan to achieve sustained wage growth, must support the economy with macro policy. Focusing on service prices as demand-pull inflation must be achieved for Bank of Jaopan’s price target to be met. Price rises accelerating not just for goods but for services. Public’s norm on prices may be changing due to big, external shock. More to come… About the Bank of Japan’s Summary of Opinions This report includes the BOJ’s projection for inflation and economic growth. It is scheduled 8 times per year, about…
Japanese Yen, USD/JPY, 2-Year Treasury Auction, US GDP – Asia Pacific Market Open:Japanese Yen gained as the 2-year Treasury yield weakenedLocal bond auction showed demand was highest since 2020USD/JPY remains focused lower after October trendline held Recommended by Daniel Dubrovsky Get Your Free JPY Forecast Asia-Pacific Market Briefing – Japanese Yen Gains as Treasury Yields FallThe Japanese Yen gained against the US Dollar on Wednesday, capitalizing on broad weakness in the Greenback. Notwithstanding small recent changes from the Bank of Japan towards policy normalization, the BoJ remains the most dovish developed central bank. As such, the Yen often finds itself…
National Capital Bank of Washington GAAP EPS of $4.71, revenue of $5.83M Source link