Author: FX
Share: China’s April Retail Sales YoY, jumped 18.4% vs. 21.0% expected and 10.6% previous while the country’s Industrial Production came in at 5.6% YoY vs. 10.9% estimated and 3.9% prior. Meanwhile, the Fixed Asset Investment increased 4.7% YTD YoY in April vs 5.5% expected and 5.1% last. more to come …. Market reaction The Australian Dollar has come under renewed selling pressure after the downbeat Chinese data release. The AUD/USD pair is losing 0.27% on the day to trade at 0.6681, as of writing. Source link
Soroban Capital takes new stake in Mastercard; exits Amazon, Suncor Source link
3/3 © Reuters. Ray Dalio, Bridgewater’s Co-Chairman and Co-Chief Investment Officer speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid 2/3 By Carolina Mandl SAO PAULO (Reuters) -Bridgewater Associates, one of the world’s largest hedge funds, sold U.S. bank stocks in the first quarter as the collapse of regional lenders rattled investors, according to regulatory filings. The firm, founded by billionaire Ray Dalio, exited positions in five U.S. banking giants: JPMorgan (NYSE:) & Co, Bank of America Corp (NYSE:), Wells Fargo (NYSE:) & Co, Goldman Sachs Group Inc (NYSE:)…
Biden sold around 200m barrels from the SPR to cap prices and its worked probably better than even he thought. Intentions to begin buying back were announced, multiple times, in the past few months. Timing was suggested after next month (June). The headline today is citing ‘people familiar’ but there was no, zero, indication given as to timing. And 3m barrels is a drop in the bucket. Still, posting this FWIW. Oil got a bit of a lift in price.Intention is to purchase 3 m barrels of US produced sour crude. Source link
S&P 500 FORECAST:Speculators are overly negative on the S&P 500 in the futures markets according to CFTC dataExtreme bearish positioning can sometimes lead to powerful and face-ripping ralliesLooking at price action, the S&P 500 continues to forge a double bottom pattern Recommended by Diego Colman Get Your Free Equities Forecast Most Read: US Dollar Withers Despite Last Week Bullish Breakout. Are Bears About to Pounce?The S&P 500 has proven highly resilient this year, defying numerous headwinds, including restrictive monetary policy, turmoil in the banking sector, and growing risks of a medium-term recession. Despite these challenges, the stock index is up…
Share: Market anticipation for Banxico’s monetary policy decision influences USD/MXN trading activity. Disappointing New York Empire State Manufacturing Index adds to the US Dollar’s struggles. US debt ceiling talks and mixed messages from Federal Reserve speakers impact market sentiment. USD/MXN prolongs its fall as the Mexican Peso (MXN) continues to strengthen, with the USD/MXN falling to a new seven-year low at around 17.4339, surpassing the July 2017 low of 17.4498, amidst a risk-on impulse that keeps most US equities on the green. The safety status of the US Dollar (USD), has been compromised, as a light US economic…
Will this week’s Australian jobs numbers support another rate hike for the Reserve Bank of Australia (RBA)? Here are major points you need to know if you’re planning on trading Australia’s labor market report this week: Event in Focus: Australia’s April Employment Data: Employment Change, Unemployment Rate When Will it Be Released: May 18, 2023 (Thursday) 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: 25,100 net jobs added for the month of April, slower than the 53K jobs added in March Unemployment rate to maintain its 3.5% reading (a 50-year…
VXRT, GLMD and AUTL among mid-day movers Source link
US DOLLAR FORECAST:U.S. dollar begins the week on the back foot, undermined by concerns over the U.S. debt limit impasse and disappointing economic dataThe U.S. retail sales and industrial production reports from April should be watched on TuesdayIn terms of technical analysis, the DXY reverses lower off Fibonacci resistance, failing to follow-through on the topside after a bullish breakout late last week Recommended by Diego Colman Get Your Free USD Forecast Most Read: Crude Oil Market Outlook Darkened by Debt Ceiling Debacle and Recession RisksAfter a strong rally late last week, the U.S. dollar, as measured by the DXY index,…
Stronghold Digital Mining, Inc (SDIG) Announces 1:10 Reverse Stock Split Stronghold Digital Mining, Inc. (SDIG) (“Stronghold”, or the “Company”) announced today that it will effect a 1-for-10 reverse stock split (“Reverse Split”) of its Class A common stock, par value $0.0001 per share (“Class A Common Stock”), and Class V common stock, par value $0.0001 per share (“Class V Common Stock” and, together with the Class A Common Stock, the “Common Stock”), that will become effective on May 15, 2023, at 5:00 p.m., Eastern Time (the “Effective Time”). Stronghold’s Class A Common Stock will continue to trade on The Nasdaq…