Author: FX
The NASDAQ is now down more than 1,000 points, or -3.84%, at 25,801, with the session low reaching 25,753.93. Selling pressure accelerated following reports that Microsoft may look to tap the equity markets to help fund its expanding AI infrastructure investments, a development that has weighed on both the stock and the broader technology sector.From a technical perspective, the decline has pushed the index below both its 100-hour and 200-hour moving averages, increasing the bearish bias in the short term. The next key support target comes at the 50% retracement of the rally from the April 21 consolidation low, which…
UOB’s Global Economics & Markets Research, led by Enrico Tanuwidjaja and Sathit Talaengsatya, argues that Thailand’s latest Consumer Price Index (CPI) data confirm a cost-push rather than demand-led inflation backdrop. They keep headline inflation forecasts at 1.4% for 2026 and 1.2% for 2027 and expect the BoT to maintain the 1-day repo rate at 1.00% through 2026 and 2027.Cost-push inflation supports steady BOT stance”That said, while noting the upside risks, we maintain our projection for headline inflation at 1.4% for 2026 and 1.2% for 2027, and our call for BoT to keep the policy rate at 1.00% through end-2026 and…
Coming off the back of Google’s record $85 billion equity share sale this week, Meta is now considering raising tens of billions of dollars in the equity markets as it looks to expand its move into AIThe stock has moved from $610 to a new low of the day of $581.58. The price currently trades at $586.56 down $41 or -6.56%. Shares are down -11.04% in 2026 after rising by a modest 12.74% last year (relatively speaking. The NASDAQ rose by 20%).A few additional points:Meta generates enormous cash flow from Facebook, Instagram, WhatsApp, and advertising operations, so it is not…
NZD/USD slips to its lowest level since April on Friday as the US Dollar (USD) receives fresh bids in the wake of solid US Nonfarm Payrolls (NFP) data. At the time of writing, the pair trades around 0.5800 and is heading for a weekly loss of nearly 3%.The US economy added 172K jobs in May, well above market expectations of 85K. April’s payroll figures were revised higher to 179K from 115K, while the Unemployment Rate held steady at 4.3%.Following the data, the US Dollar climbed to a two-month high as stronger-than-expected labor market data reinforced expectations that the Federal Reserve…
Will leave interest rate decision to WarshWould like to see lower interest ratesSays the country is doing well, market should go upHe would not mind if Warsh were to cut interest rates. Will leave rate cut to Warsh during October meeting. What is curious is his response that will leave rate cut to Warsh but cites the October meeting. He seems to be giving in for the June, July, September meetings.On Iran and oil prices says:Having great success with Iran, and Iran is in no position to have a nuclear weapon.Has about energy prices, says that they have many optionsMore:Meeting…
The Baker Hughes rig count for the current week shows oil im inventories up 2 to 431 . Natural Gas inventories are down -1 to 124 and Total rigs are up 1 to 563.The decline in rigs has been hard since the peak above 1000 rigs back in early 2019. What is the stories behind the declines?2018 boom: The rig count averaged over 1,400 historically, but the modern shale era has been far more efficient. The period started strong with rigs climbing to a cycle peak of 1,083 in November 2018 as oil prices were high and shale was in…
Gold is under heavy selling pressure, falling $143, or 3.2%, to $4,333. The sharp decline has pushed the price below its 200-hour moving average for the first time since October 2023, a development that shifts the near-term technical bias more firmly in favor of the sellers.The move lower also broke below the 50% retracement of the rally from the May 15 consolidation low at $4,359.86. While it is important to note that the 200-hour moving average has steadily risen along with gold’s longer-term uptrend—sitting near $1,900 back in October 2023—the significance lies in the fact that the level had consistently…
The EURUSD continues to slide lower after breaking below a key support zone between 1.15768 and 1.15872. That floor had held firm since May 20, with the pair finding support within the area on four separate trading days between May 20 and May 28. The decisive break below that zone shifted the technical bias more firmly in favor of the sellers.The move lower began earlier today when the pair broke beneath several important technical levels in quick succession, including the 200-hour moving average at 1.1628, the 100-hour moving average at 1.1620, and an upward-sloping trendline near 1.1600. Those breaks opened…
Gold (XAU/USD) edges lower on Friday after the US Nonfarm Payrolls (NFP) report beat expectations, boosting the US Dollar (USD) and reinforcing expectations that the Federal Reserve (Fed) will keep interest rates higher for longer. At the time of writing, XAU/USD is trading around $4,370, its lowest since March.The US economy added 172K jobs in May, well above expectations of 85K. Meanwhile, April’s payroll figures were revised higher to 179K from 115K, while the Unemployment Rate held steady at 4.3%.Following the data, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, climbs…
VV Shots Microsoft (MSFT) said on Friday that LinkedIn co-founder Reid Hoffman will leave the company’s board of directors and not stand for reelection at the company’s 2026 annual shareholder meeting. Hoffman has been a member as an independent director since 2017. His Source link