Author: FX

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…

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