Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance. 

The Markets Still Hope That The Fed May Consider Softer Decision

Eurozone inflation declines for the first time in 17 months indicating that a peak has been reached

Rebecca Duthie Rebecca Duthie 30.11.2022 19:09
Summary: Latest eurozone inflation reading could suggest a peak has been reached. Eurozone inflation came in at 10% for October. The ECB is expected to raise rates by 0.5 percentage points. Eurozone inflation may have reached its peak The European Central Bank (ECB) may be able to switch to smaller interest rate increases next month as a result of the eurozone's inflation declining for the first time in 17 months and suggesting that the largest price spike in a generation has peaked. According to data released by the EU's statistics agency on Wednesday, a slowdown in energy and services prices led inflation in the single currency bloc to fall more than predicted to 10% in November, down from a record 10.6% in October. Recently, there has been increased optimism that inflation in the eurozone is falling due to a decline in wholesale energy prices in Europe and the alleviation of supply chain bottlenecks. Additionally, US inflation decreased in October, and worldwide data signs point to the pinnacle of this year's raging global inflation. The ECB is expected to raise rates by 0.5 percentage points when its governing council meets on December 15 after two consecutive 0.75 point increases, according to economists, as a result of the slowing rate of inflation in the eurozone. However, price rise in the region is still above the ECB's 2% target, and some officials contend that in order to prevent a harmful wage-price spiral from taking root, rates must be rapidly raised even as inflation slows. The widely watched core inflation rate, which excludes more erratic energy and food costs to provide analysts with a clearer picture of underlying pricing pressures, remained steady at 5%. Sources: ft.com, twitter.com
Yen (JPY) Takes A Stab At Resilience, The Grains Sector Has Survived Well

WTI Crude oil prices supported by a fall in US supply, palladium futures touching 5-month lows, wheat futures touching 3-month lows

Rebecca Duthie Rebecca Duthie 30.11.2022 19:06
Summary: US oil inventories decreased by almost 8 million barrels last week. A worsening Covid-19 situation in China further weakened demand outlook for palladium. Wheat futures were under pressure from ongoing shipments out of Ukrainian Black Sea ports. WTI Crude up for their 3rd consecutive session On Wednesday, WTI crude futures increased for the third session in a row, approaching $79 a barrel as an industry report indicated a significant decline in US crude stocks and a forthcoming OPEC+ meeting stoked concerns about additional production restrictions. According to API statistics, US oil inventories decreased by almost 8 million barrels last week, far more than the predicted decline of 2.487 million barrels and following a decrease of 4.819 million barrels the week before. When OPEC+ meets on December 4 to decide on output strategy, there is speculation that the cartel will further reduce supply to counteract market weakness. On the demand side, the news that China would increase vaccination among its senior citizens helped to push up oil prices. This comes as pressure mounts on the world's top crude importer to pursue economic reopening in the wake of protracted protests. WTI Crude Futures Price Chart Palladium demand outlook is bleak In line with other commodities, palladium futures dropped to below $1,900 per ounce, getting closer to a 5-month low of $1,800 set on November 3rd as a worsening Covid-19 situation in China and more lockdowns weakened an already weak demand outlook. Prices for palladium are 40% lower than they were in March due to palladium's substitution by platinum, rising interest rates, and sluggish economic development. After four straight 75 bps rises, the Federal Reserve, the most powerful central bank in the world, is anticipated to boost the fed funds rate by 50 basis points in December. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. The palladium market is projected to be balanced or in deficit this year and next year, according to analysts who predict supply-demand balances. Palladium Mar ‘23 Futures Price Chart Wheat futures touching 3-month lows Chicago wheat futures were under pressure from ongoing shipments out of Ukrainian Black Sea ports, which led to a further decline to below $7.7 in late November, the lowest level in more than three months. After a time of supply uncertainty, Russia consented to a four-month extension of the UN-mediated agreement that secures a trade route for ships transporting Ukrainian grain in the Black Sea. According to Ukrainian authorities, since the agreement's inception on August 1st, the nation has been able to export more than 11 million tonnes of grain via ships, greatly allaying scarcity concerns for the following marketing year. In consequence, increased Black Sea supplies are expected to give US participants the opportunity to stockpile desperately needed goods in 2022–2033. Meanwhile, US farmers may decide to allocate farmland to wheat instead of soybeans due to lower expectations for China's soybean demand amid widespread lockdown protests, which would also increase the supply. Wheat Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
Crypto Market Buzzes with Potential Launch of US Bitcoin ETFs

Inflation in the Eurozone fell for the first time since July, AUD one of the best performing currencies in the G10

Rebecca Duthie Rebecca Duthie 30.11.2022 19:03
Summary: On Wednesday, the dollar gained support as Bureau of Labor Statistics data. The ECB is expected to pause the pace of interest rate hikes. AUD benefited from the Renminbi's latest rally. U.S labor statistics offer USD support The market is reflecting bearish signals for this currency pair. The annual inflation rate for the Euro Area is 10% in November, down from 10.6% in October and marking the first decrease since July 2021. Energy, food, alcohol, and tobacco are not included in core inflation figures, which remained stable and had a 5% reading that was in line with expectations. The figures, together with weaker readings from Belgium, Germany, and Spain, will undoubtedly give the European Central Bank much to think about before its meeting on December 15. The market's concern is if they are prepared for the Fed to slow the pace down to 50bp after raising interest rates by 75bp at its last two sessions (Markets currently pricing in 54bp). A slowdown may not be in the cards, according to recent remarks from ECB President Christine Lagarde, who claimed that inflation has not yet peaked. On Wednesday, the dollar gained support as Bureau of Labor Statistics data suggested that the U.S. economy's recovery from the depths of a previous technical recession in the third quarter was more robust than previously thought. EUR/USD Price Chart ECB expected to slow interest rate hiking cycle The market is reflecting mixed signals for this currency pair. Following the announcement of Eurozone inflation statistics that arrived at a lower-than-anticipated rate, the European Central Bank (ECB) is expected to pause the pace of interest rate hikes with a 50 basis point move the following month. However, considering that core inflation is set at 5%, substantially over the ECB's preferred level of 2.0%, the ECB cannot afford to relax just yet. With prices still relatively high, the British pound is still in a phase of consolidation. EUR/GBP Price Chart AUD one of the best performing G10 currencies Midweek trading saw a further decline in the Pound to Australian Dollar exchange rate from recent highs around 1.80. Going forward, it is probable that the pair will fluctuate between 1.7660 and 1.8046 as a tug-of-war between the strong U.S. Dollar and the strengthening Chinese Renminbi takes place. Australia's Dollar was one of the best-performing currencies in the G10 on Wednesday as the Asian region's currencies benefited from the Renminbi's latest rally and the antipodean currency itself seemed to benefit from official data that revealed a surprising drop in Australian inflation rates for October. Australian inflation decreased in October from an annual rate of 7.3% to 6.9%, whereas the majority of economists had predicted a rise to 7.6%. This downward surprise was caused by lower price increases for the majority of items included in the consumer price index. GBP/AUD Price Chart Sources: dailyfx.com, poundsterlinglive.com, finance.yahoo.com
Dollar (USD) Waits For The Jackson Hole Symposium Results. Nvidia With Good Earnings

Failure of investors to ask enough questions, Europe's energy price cap struggles, China’s covid dilemma.

Rebecca Duthie Rebecca Duthie 30.11.2022 09:37
Summary: A broad failure of investors asking questions before investing in start-ups has been exposed this past month. The EU has worked to quickly reduce its reliance on Russian fossil fuels. This week, rallies against Beijing's "zero-Covid" policy took place. Investors failure to ask questions weighing on the investment industry’s reputation The professional investment industry's reputation has had a terrible month. The demise of FTX exposed the fact that a cryptocurrency exchange with fewer financial controls than Enron had been receiving investments from everyone, from edgy hedge funds to conservative pension and sovereign wealth funds. For Theranos, a fraudulent blood-testing business that duped media magnate Rupert Murdoch and Oracle founder Larry Ellison, Elizabeth Holmes was given an 11-year prison term. Shares of IT companies that went public in the 2020–21 Spac craze are down significantly, and many crypto firms are in peril. Despite claiming to be "supported by the greatest," including SoFi, Tiger Global, and Peter Thiel, BlockFi filed for bankruptcy on Monday. Veteran Silicon Valley dealmakers claim that when venture investors stopped attempting to identify and support the most intelligent entrepreneurs and instead began doling out cash, standards have slowly eroded. The VC model has always assumed that the majority of start-up businesses fail, but that investors are made up for their losses by investing in advance of a few significant winners. However, this strategy has evolved from early investment rounds involving a few million dollars to massive agreements involving billions due to decades of easy money and a lack of respectable yields from safer alternatives. Doesn’t anyone do due diligence any more? https://t.co/hIiUn78Qbn — Financial Times (@FT) November 30, 2022 Europe’s energy price cap struggles Since the start of the crisis in Ukraine, the EU has worked to quickly reduce its reliance on Russian fossil fuels while keeping costs under control, but the outcomes of these efforts have been rather uneven. More swiftly than many officials and analysts had anticipated, the bloc has been able to reduce its reliance on Russian oil and gas, but efforts to address the region's skyrocketing energy costs have resulted in bitter disagreements in the EU's capitals. Critics who claimed that a cap on month-ahead wholesale gas of €275 per megawatt hour, as proposed by Brussels last week, would not have addressed this summer's price increase called the idea a "laugh." RePowerEU, a €210 billion plan presented by the EU in May, aims to boost domestic fossil fuel production while accelerating the deployment of renewable energy sources. After energy ministers agreed to a voluntary goal to cut consumption by 15% across the bloc in July, there has also been success in reducing gas demand. Previously, about 40% of the EU's supply came from Russian pipelines; today, that percentage is less than 8%. EU members have started to replace the 155 bcm of Russian pipeline gas each year. Price cap problems: Europe struggles to form a wartime energy policy https://t.co/3oGhcZTgwH — Financial Times (@FT) November 30, 2022 China’s covid predicament China is in a situation that is essentially hopeless. This week, rallies against Beijing's "zero-Covid" policy took place in numerous places around the nation, revealing a level of public rage not seen since the 1989 Tiananmen Square protests. However, relaxing China's Covid regulations and possibly igniting a "exit wave" of infections might result in the wintertime deaths of hundreds of thousands, if not millions, of senior individuals. The harm that this situation is doing to China's reputation as a whole as well as its president, Xi Jinping, is real. Despite the skilled efforts of Chinese censors to artistically remove crowd scenes from World Cup coverage, TV images of maskless crowds watching the World Cup in Qatar only serve to reinforce the perception that Beijing has been slow to end the pandemic. The danger to many of China's elderly citizens' lives is only one aspect of the emergency that the country is facing. The recent Covid infection wave could spiral out of control, overwhelming an already overburdened public health system with its sheer number of cases. If this occurs, public resentment of Xi's regime may increase even more. Beijing must understand that the protesters on the streets are expressing justifiable complaints. China’s dire Covid predicament https://t.co/42QIWiWS97 | opinion — Financial Times (@FT) November 29, 2022 Sources: ft.com, twitter.com
Sunrun's Path to Recovery: Analysts Place Bets on High Growth Amidst Renewable Energy Challenges

HSBC to sell its Canadian operations for $10 billion to the Royal Bank of Canada

Rebecca Duthie Rebecca Duthie 29.11.2022 19:28
Summary: HSBC has agreed to sell its Canadian operations to RBC. HSBC’s share price increased on Tuesday. RBC's acquisition represents the country's first significant domestic transaction in ten years. HSBC to sell its canadian operations to RBC As the lender curtails its global network outside of Asia in response to demands from its largest investor to separate, HSBC has agreed to sell its Canadian operations to Royal Bank of Canada for $10 billion. On hearing about the purchase, HSBC's shares increased by over 5%. The bank also indicated that it would return some of the proceeds to investors. With the acquisition, RBC gained 130 locations and more than 780,000 retail and business clients. If authorities accept the merger, RBC, who is now Canada's largest lender by assets, would strengthen its position. The biggest stakeholder at HSBC, the Chinese insurer Ping An, has been exerting consistent pressure on Quinn and chair Mark Tucker to separate the bank's Asian and western operations. In an era of hostile US-China geopolitics, Ping An has criticized the bank for years of subpar performance, chronically high costs, and a declining share price, arguing that the bank can no longer efficiently operate by straddling east and west. The sale in Canada comes after comparable divestitures of unprofitable consumer businesses in France and the US. When HSBC sold its French retail network to Cerberus for €1 last year, it suffered a $3 billion loss. The business was Canada's sixth-largest bank with assets of CAD134 billion, and RBC's acquisition of it represents the country's first significant domestic transaction in ten years. Most lenders have chosen to expand in the US instead of Canada due to concerns about competition in that country's highly consolidated banking sector. BNP Paribas and Bank of Montreal reached an agreement last year to sell the San Francisco-based Bank of the West for $16.3 billion. HSBC Price Chart Sources: ft.com, finance.yahoo.com
Chile's Lithium Nationalization and the Global Trend of Resource Nationalism: Implications for EV Supply Chains and Efforts to Strengthen Battery Metal Supply

Gold supported by a falling US dollar, NGAS fell in the wake of weaker demand expectations, Cotton touching 4-week lows

Rebecca Duthie Rebecca Duthie 29.11.2022 19:15
Summary: Gold rose, recovering the majority of its losses from the previous session. In anticipation of weaker demand, US natural gas futures were trading down from a two-month high. Recession expectations weighing on cotton prices Gold futures rose on Tuesday As the dollar fell on Tuesday, gold rose beyond $1,750 an ounce, recovering the majority of its losses from the previous session. Investors were still determining the likely course of US monetary policy. After US Federal Reserve officials indicated that interest rates will continue to rise well into next year, the yellow metal fell by about 1% on Monday. However, after delivering four consecutive 75 basis point rate hikes, it is largely anticipated that the Fed would moderate the pace of its rate hike to 50 basis points in December. Investors anticipate numerous US economic releases this week as well as Fed Chair Jerome Powell's speech on Wednesday for new information regarding the central bank's plans to tighten monetary policy. The rate outlook has a significant impact on gold because it makes holding non-yielding bullion more expensive, decreasing its appeal. Gold Dec ‘22 Futures Price Chart NGAS’s decline on weaker demand expecations In anticipation of weaker demand, US natural gas futures were trading at around $7.3/MMBtu, down from a nearly two-month high of $8/MMBtu reached on November 23. Recent weather predictions predict milder conditions over the following two weeks. Nevertheless, costs are anticipated to stay high due to expectations of a significant demand for heating during the winter. Investors continued to express anxiety about potential interruptions in the coal supply. The largest US rail union's members rejected a tentative contract agreement reached in September, increasing the likelihood of a year-end strike that could halt coal shipments and make power plants burn more gas. At the same time, Europe is clamoring for US exports after Russia threatened to further reduce supplies. The Freeport LNG export plant in Texas, which had to shut down due to a fire in June, anticipates starting to resume operations in mid-December. NGAS Dec ‘22 Futures Price Chart Cotton touching 4-week lows On the back of declining demand brought on by worries about an impending global recession, rising supplies, and at their lowest level in over four weeks, cotton futures were trading at approximately 78 USd/Lb. The most recent US Department of Agriculture cotton projections for 2022–2023 showed reduced worldwide demand forecasts for 2022–2023 and a marginal increase in global cotton production from 2021/22. With 14.0 million bales produced, the US, the world's largest cotton exporter, saw production rise by around 1.5% as rises elsewhere more than made up for a decline in the Southwest. A 300,000-bale reduction in mill use in Pakistan and Bangladesh is expected to result in a 650,000-bale decrease in worldwide cotton consumption this month. Cotton Mar ‘23 Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
Czech National Bank Prepares for Possible Rate Cut in November

German CPI inflation missed market expectations, CAD down around 2% on Tuesday

Rebecca Duthie Rebecca Duthie 29.11.2022 19:10
Summary: Signs of an industrial slowdown in the Eurozone emerged. Eurozone inflation could have taken a larger step toward its peak. Renminbi weighing on the CAD Worries of a global recession continue The market is reflecting bullish signals for this currency pair. Consumer confidence in the Eurozone for November came in at the expected level, but after actual data came in below expectations, signs of an industrial slowdown emerged. This may be related to concerns about a global recession as well as the effect of China on demand-side issues. After China is said to have deescalated tensions and given the euro a boost, yesterday's hawkish commentary from Fed officials and China's ongoing COVID crisis did not hold. The Eurozone has strong ties to China, which can expose the euro to weakness in the event of negative Chinese news. Yesterday, Christine Lagarde of the ECB noted that interest rates still have a ways to go. EUR/USD Price Chart German CPI inflation missed market expectations. The market is reflecting bearish signals for this currency pair. The Eurozone has strong ties to China, which can expose the euro to weakness in the event of negative Chinese news. Yesterday's hawkish commentary from Fed officials as well as China's ongoing COVID crisis did not hold true today. Interest rates still have a long way to go, according to Christine Lagarde of the ECB, who said that yesterday. According to Destatis, Germany's annual inflation rate for the year ending in November was 10%, down from 10.4% in October and below the consensus estimate of 10.4%. The information was released ahead of Wednesday's CPI inflation report, which currently appears to be on track to fall short of expectations. GBP/CAD Price Chart CAD lost around 2% on Tuesday Early in the new week, the Canadian Dollar dropped significantly against all major currencies due to a rolling underperformance that increased USD/CAD and GBP/CAD despite widespread declines in U.S. Dollar exchange rates, giving the Loonie the appearance that it might be about to roll over. On Tuesday, the Canadian Dollar experienced losses of over two percent against the rising Chinese Renminbi and Korean Won, but what was considerably more dramatic than this price action was the one percent rise in the USD/CAD, which surged swiftly and even as most other U.S. exchange rates sank. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Central Banks' Rates Outlook: Fed Treads Cautiously, ECB Prepares for Hike

Europe’s governments are concerned about energy supplies over the winter and the future of Russian gas imports, Musk’s war with APPL

Rebecca Duthie Rebecca Duthie 29.11.2022 12:00
Summary: Governments in Europe remain concerned about how they will provide heat and electricity to their citizens. The EU region still relies on Russia for the essential fuel. Elon Musk is going to war with Apple (AAPL). Europe's energy crisis Governments in Europe have been concerned about how they will provide heat and electricity to their citizens ever since Russia invaded Ukraine. Although the energy crisis was initially brought on by gas shortages, it is now anticipated that the biggest burden will be placed on the electricity network, which is partially dependent on gas. The gloomy outlook for this winter has been slightly brightened by the mild weather, but the European electrical infrastructure will face its hardest test yet in the months and years to come.  The world's most dependent region in terms of electricity commerce accounts for more than 15% of power in Europe in a normal year. The gas crisis in the EU has occurred at the same time as other power-related issues, such as significant nuclear fleet failures in France and low hydro levels in Norway. Governments from Germany to Slovakia are already debating whether or when to cut back on electricity exports to their neighbors as a result of the possibility of blackouts and sky-high electricity costs at home. A stretch of warm weather in November, along with large gas reserves and attempts to cut use, have allayed initial concerns of a power outage. The coldest months, January and February, when heating requirements will be at their peak, continue to raise worries. As wealthier nations take efforts to keep domestic energy prices low, political conflicts over electricity prices have already erupted amongst EU member states in Brussels.  The unified market that underpins European power trading is beginning to erode as a result of these regulations, and they are also opening up opportunities for businesses or nations to cut back on electricity exports. In Europe, people could face energy blackouts this winter. To understand what is at stake, the Financial Times explores how the European energy grid actually works 🧵 https://t.co/KnLLWguMOh — Financial Times (@FinancialTimes) November 29, 2022 Russian seaborne gas imports The EU region still relies on Russia for the essential fuel, despite the fact that pipeline supplies have all but ceased, as seen by the record volume of Russian gas being imported into Europe by sea. Despite Brussels' efforts to move away from Russian sources, imports of Russian liquefied natural gas, which is typically transported on large tankers, increased by more than 40% between January and October this year compared to the same period in 2021. This shows how difficult it is for Europe to wean itself off gas from Moscow. With a divide forming between nations like Spain and Greece in favor of a ceiling on gas prices, while Germany, Denmark, and the Netherlands have remained skeptical of such a move, European unity is already being put to the test. In the meantime, Hungary and Gazprom agreed to a new gas agreement in August. Europe’s imports of Russian seaborne gas jump to record high https://t.co/nFjls79OyZ — FT Commodities (@ftcommodities) November 28, 2022 Elon Musk at war with Apple Elon Musk is going to war with Apple (AAPL). On Monday, the CEO of Tesla (TSLA) and the newly appointed head of Twitter went to his social media platform to criticize Apple for its 30% App Store fees and the iPhone manufacturer for reducing its online advertising.  Musk questioned whether Apple actually opposes free speech in America in a series of tweets in which he claimed the corporation was stifling speech by imposing strict content guidelines on apps sold through its app store. Tim Cook, the CEO of Apple, was particularly mentioned by Musk in one tweet. Musk claims that Apple has ceased running the majority of its Twitter advertisements. If this is the case, Apple wouldn't be the only company to decide to stop running ads on Twitter. In the weeks following Musk's turbulent takeover, businesses ranging from GM and VW to General Mills and Eli Lilly have either reduced their platform ad expenditure or quit advertising entirely. Musk also responded to a tweet from The Verge's deputy editor Jake Kastrenakes, who claimed that if Twitter doesn't comply with Apple's moderation requirements, the social media platform will be kicked out of the App Store.   Elon Musk goes to war with Apple over App Store fees, moderation https://t.co/7vRRfjgmfh by @DanielHowley pic.twitter.com/1D3w9PG4PC — Yahoo Finance (@YahooFinance) November 29, 2022 Sources: twitter.com, ft.com, finance.yahoo.com
EUR/USD Faces Ongoing Decline Amid Budget and Market Turbulence

Meta fined by Irish regulators amidst privacy concerns

Rebecca Duthie Rebecca Duthie 28.11.2022 19:04
Summary: Meta has frequently been the target of privacy regulators around the world. Irish privacy authorities announced a fine for Meta. Meta fined by Ireland’s privacy authority Ireland's privacy authority has fined Meta, the parent company of Facebook and Instagram, €265 million for its treatment of user data, bringing the total amount the technology giant has been fined by European regulators to close to €1 billion. The Irish Data Protection Commission's announcement of the fine on Monday brings to a close an investigation that began in April of last year after information about more than 500 million Facebook and Instagram users was posted online. Since the company's European headquarters are located in Dublin, Ireland's data watchdog frequently leads the charge in Europe. Meta has frequently been the target of privacy regulators around the world. The most recent punishment is a further setback for Meta, which earlier this month let go more than 11,000 employees as it restructured its operations in response to a decrease in revenues and intense competition from rivals like TikTok. From $10.39 billion the year before, Meta's net income decreased to $6.69 billion. The Irish fine is related to a feature that allows users to import contacts from their phones into the Facebook or Instagram app in order to find friends and acquaintances. 2019 saw the publication on a hacking forum of the personal information of 533 million people from 106 different countries, including names, addresses, and some email addresses. The vulnerability on this feature, where data could be gathered by outside parties through a procedure called scraping, was later fixed by Facebook. Companies who violate the bloc's privacy laws risk fines of up to 4% of their global revenue. Other countries have pursued privacy violations as well. The largest ever fine for violating the EU's GDPR regulations was levied against Amazon last year by Luxembourg, who fined the company €746 million for violating data privacy laws. Meta Price Chart Sources: finance.yahoo.com, ft.com
Crude oil went up after news about missile, which landed in Poland. Black gold said to be affected by situation in China

Silver futures supported by constrained supplies, Brent Crude touching January lows, corn futures

Rebecca Duthie Rebecca Duthie 28.11.2022 17:14
Summary: Silver supported by demand optimism and constrained supplies. Brent crude weighed down by lack of investor confidence. Corn futures up more than 12% in 2022. Silver trading near 5-month highs Near the five-month high of almost $22 that was set on November 14th, silver futures were trading at roughly $21.5 per ounce, supported by a combination of demand optimism and constrained supplies. White metal demand is anticipated to reach a new record high globally in 2022, spurred by post-pandemic industrial and physical investment needs. The long-term picture for the commodity's demand was further improved by the global governments' commitment to green technologies. Prices were also bolstered by indications of limited supply, as New York's COMEX inventories decreased by 70% to just over 1 million tonnes over the previous 18 months. Additionally, the London Bullion Market Association stockpiles dropped to a record-low 27.1 thousand tonnes in November for the tenth consecutive month. In addition to the demand-supply dynamics, the Federal Reserve's potential for a more gradual tightening of monetary policy has given silver bulls hope. Silver Dec ‘22 Futures Price Chart Brent Crude fell more than 2% On Monday, Brent oil futures fell more than 2% below $82 a barrel, reaching their lowest levels since January as huge demonstrations against China's tight zero-COvid policy undermined investor confidence and the outlook for demand. Reports that the US has given Chevron Corp. permission to restart oil production in Venezuela put additional downward pressure on oil prices. The top crude importer China is experiencing Covid-related uncertainty, and growing concerns about a global economic downturn have seized the energy markets. This is the fourth week in a row that the international oil benchmark has fallen. The G7's intention to control the price of Russian oil continued to be followed by traders, but news of a high cap on the price allayed concerns that Russia would respond by reducing production. Investors are still being cautious ahead of the OPEC+ meeting on December 4 since it is anticipated that the major producers will maintain tight supply. Brent Crude Oil Futures Price Chart Corn has increased more than 12% in 2022 Trading on a contract for difference (CFD) that tracks the benchmark market for this commodity shows that corn has increased 71.68 USd/BU or 12.08% since the start of 2022. Corn Mar ‘23 Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
The GBP/USD Pair Did Not Reach The Nearest Target Level Of 1.2259

Eurozone’s future is clouded by economic unrest in China, GBP’s future for the week lies in the hands of external variables

Rebecca Duthie Rebecca Duthie 28.11.2022 17:10
Summary: The EUR/USD exchange rate has benefited from the final quarter's risk asset rally. The GBP made gains this week in a market that was favorable to riskier assets. Euro opened weaker on Monday, weighed down by the Chinese economy The market is reflecting mixed signals for this currency pair. Although technical resistances near 1.04 on the charts have recently held back the recovery of the Euro to Dollar exchange rate, it could succumb to losses this week that push the single currency back toward 1.0303 or lower in the coming days. The Euro to Dollar exchange rate has benefited significantly from the final quarter's risk asset rally. Since financial markets adopted an upbeat perspective on the outlook for China in its ongoing fight against the coronavirus and for the U.S. as the Federal Reserve (Fed) attempts to get the better of inflation, the single currency of Europe has almost completely reversed this year's losses against the Dollar. The world's second-largest economy is currently experiencing restrictions due to the coronavirus, and there have been public demonstrations against these limits in several parts of China. This has put the euro on the back foot on Monday. The Chinese economy is also, in some respects, Europe's second-largest export market, which contributed to the weak start for the Euro on Monday, and the ongoing economic unrest in China further clouds the future for the Eurozone. EUR/USD Price Chart GBP’s future depends on external variables The market is reflecting mixed signals for this currency pair. The technical resistance for the Pound to Euro exchange rate is placed near 1.1667, and it started the new week close to November highs. The pound made some gains this week in a market that was favorable to riskier assets and unfavorable to the dollar, but it was unable to go over 1.1667 versus the euro, which is quite close to the 78.6% Fibonacci retracement of the late-August downturn in GBP/EUR. Technical resistance at that level previously prevented the Pound's October recovery from the lows it reached after the budget event in September, and it may do so again this week as a light UK economic calendar puts external variables in charge of Sterling's direction. EUR/GBP Price Chart GBP may struggle to move forward in the coming days The market is reflecting mixed signals for this currency pair. The GBP/USD exchange rate has more than partially recovered this year's decline, but it now faces the possibility of a corrective setback that could push it back around 1.20 or possibly below it during the next several days. Last week, sterling increased in a market that was favorable for riskier assets and unfavorable for the U.S. dollar, but it was unable to overcome a double-barreled layer of technical resistance and may now find it difficult to move forward in the coming days. This is partially due to events that occurred over the weekend in China, where new discontent over the most recent round of restrictions connected to the coronavirus is likely to keep financial markets focused on the significant financial consequences of the government's ongoing efforts to contain COVID. That might reduce risk appetite on the global markets and put the pound to dollar exchange rate on the defensive from the start of this week. GBP/USD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
India’s Investing In Program For The Green Hydrogen Industry | Covid Situation In China Is Getting Serious

China stocks weighed down by COVID-19, shaky recession predictions, Goldman Sachs predictions for the U.S stock market

Rebecca Duthie Rebecca Duthie 28.11.2022 13:30
Summary: Since the start of the epidemic, China has struggled with its deadliest coronavirus outbreak. The argument that this recession will be "brief and shallow" risks complacency. The stock market had a poor year, and U.S. equities investors may not have much to look forward to in 2023. China’s latest COVID-19 outbreak Since the start of the epidemic, China has struggled with its deadliest coronavirus outbreak. Large-scale demonstrations have been provoked by the lockdowns Beijing ordered to stop the spread of disease. Market movements on Monday indicated escalating financial concerns due to political unpredictability. This past weekend saw protests start in a number of cities, including Beijing, Shanghai, and Wuhan. In Xinjiang, a fatal residential fire fueled protesters' rage against the government's policies. Party officials have been hesitant to import large quantities of foreign vaccines that are superior to the domestically produced Sinovac jab. Instead, they have turned to strict lockdowns. The effect on china’s stock market The commodities markets were initially affected by public unrest. Copper, iron ore, crude oil, and coal prices all increased last week's severe declines. This indicated a decline in demand from China, the biggest importer in the globe. Local stocks experienced a steep dip in early trading before partially recovering. The few equities that did increase made the situation even worse. One of the largest manufacturers of ventilators and oxygen inhalers, Jiangsu Yuyue Medical Equipment, increased by more than 5% on Monday, adding to gains of more than 50% over the previous six months. That was a reflection of the high infection rates and the anticipated demand for numerous additional hospital beds and intensive care units. Performance deviates from fundamentals when unpredictably political decisions are made in stock markets. Then, investors should hold off on adding more money and think about selling. That category has included Chinese tech firms for a while. Whether the Chinese market as a whole is becoming uninvestable is the current question. China: stocks becoming uninvestable amid lockdowns and protests https://t.co/TRpsgfmWZM | opinion — Financial Times (@FT) November 28, 2022 Recession complacency You would think that consensus forecasters would be more flexible in how they define the US recession they expect to occur in 2023 after the chastening delivered by last year's temporary inflation call. However, they assert with assurance that this recession will be "brief and shallow" and urge us once more to "see through" a significant development. There are concerns that this could be a repetition of the cognitive and behavioral fallacies that were present in the disastrous inflation call made last year, the effects of which we are still dealing with. The populace as a whole does not necessarily agree with what is true for the economy as a whole. The most vulnerable individuals and businesses have already depleted their funds, have fewer possibilities for employment and less access to low-cost financing. They have a negative influence on growth that is difficult for the wealthy to make up for. While inflation will decline over the coming months, rate stickiness of around 4% is likely to continue. There are numerous causes for this, including changes in wages, the evolving nature of globalization, the long-term effects of rewiring supply chains, and the energy transition. The consensus forecast on recession risks complacency https://t.co/fCQoW2YK4a — Financial Times (@FT) November 28, 2022 US Stocks as predicted by Golman Sachs The stock market had a poor year, and U.S. equities investors may not have much to look forward to in 2023, according to Goldman Sachs strategists. The analysts described a scenario in which there will likely be no change in the benchmark S&P 500 next year due to little earnings growth in Corporate America. The top investment bank on Wall Street forecasts that S&P 500 earnings per share will remain steady in 2023 at $224 and that the index will close the year at 4,000. The S&P 500's closing price on Friday was 4,026.12. The index's three-month target from Goldman is 3,600, down about 10% from where it was as of Friday's close, and its six-month target is somewhere around 3,900, down about 3%. The firm's ideal situation is for there to be no stock market gain. The S&P 500 could experience a "hard landing" in 2023 and drop to 3,150 in early '23, a 20% decline from current levels, if the Fed's interest rate hikes cause a sharp decline in the U.S. economy. Goldman Sachs sees stocks enduring 'less pain but also no gain' in 2023 https://t.co/rtFMkouYSf by @alexandraandnyc — Yahoo Finance (@YahooFinance) November 28, 2022 Sources: ft.com, finance.yahoo.com, twitter.com
Euro eyes Services PMIs

Twitter’s closure of Brussels headquarters raises concerns

Rebecca Duthie Rebecca Duthie 24.11.2022 15:52
Summary: Elon Musk shut down Twitter's entire Brussels headquarters. Concerns about whether twitter has the manpower to ensure adherence to local legislation. Twitter sparking online safety issues After a disagreement over how the social network's content should be regulated in the Union, Elon Musk shut down Twitter's entire Brussels headquarters. According to the Financial Times, Julia Mozer and Dario La Nasa, who were in charge of Twitter's digital policy in Europe, left the business last week. The executives were instrumental in getting the business to abide by the landmark EU Digital Services Act, which went into effect last week and established new guidelines for Big Tech companies to protect users' privacy online. At the beginning of the month, other executives had already left the tiny Brussels headquarters after Elon Musk cut the number of employees in the company in half, from 7,500 to about 3,750, in the weeks following his £38 billion takeover. The CEO of Tesla and SpaceX tweeted that "the bird is liberated" after completing his platform acquisition. Thierry Breton, a European commissioner, curtly reminded everyone of the EU's content-moderation standards shortly after that and said, "In Europe, the bird will fly by our rules." As he began a hiring push, Mr. Musk had previously stated that Twitter's recent round of layoffs would end this week. Twitter’s global legislation The departures from Brussels are indicative of a global trend that started in India and moved to France, where regional Twitter executives who held important positions dealing with government officials suddenly left the company in recent weeks as a result of sweeping layoffs. This has raised concerns about whether the business has the manpower to ensure adherence to local legislation intended to monitor internet material, raising the possibility of legal action and regulatory action against the business. Data showing a 5% annual decline in hate speech removals from Twitter was released by the European Commission on Thursday. These problems come as Musk's attempts to overhaul Twitter's operations have encountered difficulties, particularly with regard to the user identity verification process. Sources: finance.yahoo.com, ft.com
World Platinum Investment Council CEO: ""The Platinum Market Is Forecast To Be In Deficit"

Platinum futures weighed down by COVID-19 lockdowns in China, gasoline touching 5-week lows, wheat futures touching 3-month lows

Rebecca Duthie Rebecca Duthie 24.11.2022 15:39
Summary: The supply side of the platinum market could experience a shortfall. Higher gasoline supply driving prices down. Wheat prices were under pressure from forecasts of plentiful supplies. Platinum demand looks dim As new outbreaks in top consumer China crushed hopes for a potential end to its zero-Covid policy, clouding the outlook for demand, platinum futures declined below the $1,000 per ounce barrier, sliding further from an eight-month high of roughly $1,050. According to statistics from the World Platinum Investment Council, the supply side of the platinum market could experience a shortfall of 219,000 ounces in 2023 as opposed to a surplus of 974,000 ounces in 2022. Beyond the reduction in supplies globally, there was ongoing concern regarding Russian exports. After South Africa, Russia is the second-largest producer of platinum worldwide. Platinum Jan ‘23 Futures Price Chart Gasoline hitting 5-week lows After a larger-than-expected inventory build last week allayed concerns about a tight market, gasoline futures continued to decline and fell to below $2.5 per gallon, moving closer to a five-week low hit below $2.4 earlier in the week. In contrast to market expectations for a smaller 383,000-barrel increase, the most recent EIA data showed that US gasoline stocks increased by 3.058 million barrels in the week ended November 18th, the largest weekly increase since mid-July. The report also revealed a 625,000 barrel drop in gasoline production, the first weekly decline since early October. RBOB Gasoline Dec ‘22 Futures Price Chart Wheat touching 3-month lows The fourth week of November saw the lowest price for Chicago wheat futures in three months as benchmark wheat prices were under pressure from forecasts of plentiful supplies. After a time of supply uncertainty, Russia consented to a four-month extension of the UN-mediated agreement that secures a trade route for ships transporting Ukrainian grain in the Black Sea. According to Ukrainian authorities, since the agreement's inception on August 1st, the nation has been able to export more than 11 million tonnes of grain via ships, greatly allaying scarcity concerns for the following marketing year. In consequence, increased Black Sea supplies are expected to give US participants the opportunity to stockpile desperately needed goods in 2022–2033. As a result of improved production in Australia and Kazakhstan offsetting probable decreases in Argentina and the EU, figures from the USDA's WASDE report increased predictions for the world supply and ending stocks for the upcoming marketing year, contrary to expectations of a decline. Wheat Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
The Bank Of England Has Warned That Negative Growth Will Extend All The Way

Eurozone recession may not be as bad as previously anticipated, demand for UK government bonds driving the GBP

Rebecca Duthie Rebecca Duthie 24.11.2022 15:34
Summary: Eurozone flash PMIs remain in the contractionary range. The GBP has just moved higher thanks to demand for UK government bonds. The value of the CAD has fallen as a result of falling oil prices. Eurozone economy still remains in contractionary range The market is reflecting bearish signals for this currency pair. The most recent flash PMIs for the Euro Area outperformed expectations this morning, but they are still firmly in the contractionary range. Although November's numbers were better than anticipated, the data point to the Euro Area's economy contracting by about 0.2% in Q4. A recession appears probable, but, as data provider S&P notes, the latest data provide hope that the severity of the slump may not be as severe as originally feared. The US dollar data and the most recent FOMC minutes will likely drive the pair into the weekend due to holidays in the rest of the day. EUR/USD Price Chart GBP supported by UK government bond demand The market is reflecting bearish signals for this currency pair. The British pound has just moved considerably higher thanks to demand for UK government bonds, and since the rest of the week will be quiet due to the U.S. Thanksgiving holiday, gains may hold. In tandem with a strong increase in the price of UK government debt, the Pound rose sharply versus the Euro, the Dollar, and other major currencies through Wednesday and into Thursday. The cost of funding mortgages and other financial products in the UK has decreased as a result of the increase in bond prices and the associated decline in their yields across different time tenors in the bond market. Bond yields are declining, which indicates a loosening of UK financial conditions and is positive for future economic growth. EUR/GBP Price Chart CAD weighed down by falling oil prices The value of the Canadian Dollar has fallen as a result of falling oil prices, and one industry analyst has predicted that a planned cap on Russian oil could have a disproportionately large effect on Canada. In the last 24 hours, the Canadian Dollar has fallen 1.5% against the British Pound due to a decline in oil prices. Canadian benchmarks are impacted by the decline in global oil prices, which reduces the possibility for the country to generate foreign money. Since the Canadian Dollar and oil market dynamics frequently correlate, the GBP/CAD exchange rate may soon be dependent on changes in the energy market. This linkage previously appeared to have disappeared. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

Fed interest rate hikes predicted to slow down, Bob Iger takes over Disney for the second time, US mortgage payments soaring

Rebecca Duthie Rebecca Duthie 24.11.2022 10:46
Summary: The Fed is expected to abandon its campaign of raising interest rates by 0.75%. It might be more difficult for Iger to avoid redos now. In October, affordability for homebuyers declined. Federal reserve interest rate hikes expected to slow The "substantial majority" of Fed officials predict that the present rate of rate increases will soon need to be slowed. The Federal Reserve is expected to abandon its campaign of raising interest rates by 0.75% at its policy meeting next month, according to minutes from the central bank's policy meeting earlier this month that were published on Wednesday. The minutes revealed that, despite a potential slowdown in rate hikes, the Fed's ultimate target rate hike for this cycle has probably gone up recently. Persistent inflation, according to officials, indicates that rates will probably settle at amounts "somewhat higher than they had previously expected." On Wednesday afternoon, stocks increased after these minutes were made public. Several participants thought that the risk of financial system instability or disruptions increased with continuing fast policy tightening. Many participants believed that there was a great deal of ambiguity over the final level of the federal funds rate required to bring inflation back down to 2%, even if the new focus is on how high the Fed will hike rates. The remarks made by Fed Chair Powell at the press conference following the meeting at the beginning of the month were echoed in the minutes. At the central bank's most recent policy meeting, Fed Chair Powell laid the groundwork for beginning to slow down the pace of rate hikes, but stated that the question of when to moderate the size of increases is less significant than how high the central bank will ultimately raise rates to tame inflation. Fed minutes show 'substantial majority' support slowing pace of rate hikes https://t.co/hydBdfZc2Z by @Jenniferisms — Yahoo Finance (@YahooFinance) November 24, 2022 Disney: Bob Igers second chance Last year, Walt Disney gave Bob Iger a $10 million contract to counsel Bob Chapek, despite the fact that the two media firm CEOs seldom ever speak to one another. Iger, who oversaw Disney for 15 years, shocked the entertainment industry last week when he announced that he would take over as CEO of the organization after his handpicked heir Chapek was overthrown in a coup. Iger's rehiring put an end to an 11-month period during which he worked for a company other than Disney but maintained a tenuous connection to it thanks to a "consulting services" contract. It might be more difficult for Iger to avoid redos now that he has taken over as Disney's CEO for a second time after Bob Chapek was fired. Iger, who held the positions of chief until 2020 and chair until January, will review tactics that he is well-versed with. Disney's loss-making streaming division, which Iger announced with great hoopla in December 2020, will require a close examination from Iger. But unlike in the early phases of Disney's push into the industry, stockholders are no longer prepared to finance streaming expansion at any cost. Earlier this month, Disney stated that its quarterly operating losses had increased by $800 million to $1.5 billion as a result of the explosion of content. Disney awarded Iger $10mn consultancy deal to advise CEO https://t.co/yga8DnhUrf — Financial Times (@FT) November 24, 2022 Housing mortgage payments soaring In October, affordability for homebuyers declined as increased mortgage rates caused monthly payments to reach all-time highs. According to the Mortgage Bankers Association (MBA), the national median monthly payment jumped 3.7% to $2,012 in October from $1,941 in September, setting a record for the study. The average monthly mortgage payment increased by $629 in the first 10 months of the year, which is also equal to a 45.5% year-over-year rise. The findings highlight the difficult circumstances that many prospective purchasers have encountered this year as increased rates, rising property prices, and inflation make homeownership unaffordable. According to the MBA, the Federal Reserve's sharp rate increase, which was motivated by its aggressive fight against inflation, slashed homebuyer demand to its lowest level in 25 years in October, with purchase activity down 46% from a year earlier. For nine straight months, pre-owned home sales have decreased, with an October year-over-year decline of 28.4%. Housing: Median mortgage payment reaches record high in October https://t.co/BpfpskEPoT by @__gabriellacruz — Yahoo Finance (@YahooFinance) November 24, 2022 Sources: finance.yahoo.com, ft.com, twitter.com
TEST

Wealthy clients are withdrawing assets from Credit Suisse accounts

Rebecca Duthie Rebecca Duthie 23.11.2022 18:48
Summary: Wealthy clients have withdrawn up to 10% of their assets from Credit Suisse. The bank has been using liquidity buffers. Credit Suisse stocks are suffering. Credit suisse stock price is taking a dive Since the beginning of October, wealthy clients have withdrawn up to 10% of their assets, according to the troubled Swiss bank Credit Suisse, which has estimated a pre-tax loss of up to SFr1.5 billion ($1.6 billion) for the fourth quarter. The bank stated in its fourth profit warning since January that the size of the client outflows, which came after a series of social media rumors about its financial health, had caused the bank to use up liquidity buffers at the group and legal entity level. According to Credit Suisse, it "fell short of some legal entity-level regulatory criteria." According to the statement, the wealth management division has experienced outflows totaling roughly SFr63.5 billion, or 10% of the assets under management at the end of the third quarter. The bank lost about SFr84 billion ($89 billion) in assets across the board as clients in wealth management, asset management, and retail banking switched their cash holdings, investments, and deposits to rivals. According to the statement, the wealth management division has experienced withdrawals totaling roughly SFr63.5 billion, or 10% of the assets under control at the end of the third quarter. The bank also reaffirmed its capital ratio guideline from last month, which aimed for a common equity tier one ratio of more than 13.5% by 2025 and at least 13% from 2023 to 2025 as a measure of financial stability. It did, however, show that since the end of September, the liquidity capital ratio, which measures a company's capacity to absorb short-term stress, had dropped from 192% to a daily average of 140%. Regulators mandate that the bank maintain a percentage above 100%. CS Price Chart Sources: finance.yahoo.com, ft.com
WTI crude futures fell 5%, palladium futures touching 5-mont lows, coffee futures touching 16-month los

WTI crude futures fell 5%, palladium futures touching 5-mont lows, coffee futures touching 16-month los

Rebecca Duthie Rebecca Duthie 23.11.2022 18:27
Summary: WTI crude futures touching January lows. Palladium futures are declining as China's COVID-19 situation heightens. Arabica coffee futures touching the lowest level in 16 month, WTI Crude oil touching 11 month lows As investors considered persisting demand concerns and tracked developments around the G7's price restriction on Russian oil, WTI crude futures fell over 5% to below $77 per barrel, approaching their lowest level since January. Markets have been on edge due to a deteriorating outlook for global demand, with top crude importer China potentially facing tighter coronavirus-induced restrictions due to an increase in infections and advanced economies, primarily the US and Europe, experiencing a decline in economic activity as a result of tighter financial conditions. The G7 also considered a price cap on Putin's oil above the current price of the crude grade to make it profitable for Russia to sell its crude and avoid a shortage of supplies on the global market. Prices were supported by expectations that OPEC would step up its market interventions in response to a decline in demand brought on by the recession. Additionally, EIA data revealed a much greater than anticipated decline in US inventories last week. WTI Crude Futures Price Chart Palladium futures touching 5-month lows In line with other commodities, palladium futures dropped to $1,900 per ounce, edging closer to a 5-month low of $1,800 set on November 3rd as a worsening Covid-19 situation in China and more lockdowns weakened an already weak demand outlook. Prices for palladium are 40% lower than they were in March due to palladium's substitution by platinum, rising interest rates, and sluggish economic development. After four straight 75 bps rises, the Federal Reserve, the most powerful central bank in the world, is anticipated to boost the fed funds rate by 50 basis points in December. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. The palladium market is expected to be balanced or in deficit this year and next year, according to analysts who predict supply-demand balances. Palladium Mar ‘23 Futures Price Chart Coffee touching 16-month lows Arabica coffee futures on the ICE extended losses to $1.54 a pound, touching the lowest level in 16 months, as the outlook for the global supply is expected to continue good while the demand is anticipated to deteriorate due to the possibility of a recession. According to an analysis by Rabobank, Brazil's ample rainfall and increasing output in response to high prices since 2020, when demand growth was anticipated to be modest, will assist the global coffee market transition from a tiny deficit in 2022/23 to a surplus in the season that follows. A significant increase in arabica coffee entering warehouses with ICE approval also continued to be a bearish factor. According to the most recent data, ICE-certified coffee stocks were 468,291 bags as of November 15th, a significant increase from the 23-year low of 382,695 bags reached on November 3rd. Coffee Mar ‘23 Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
The EUR/USD Price Failed To Exhibit A Strong Trending Movement

Eurozone economy seems to be falling into a recession, UK economic outlook seems poor

Rebecca Duthie Rebecca Duthie 23.11.2022 18:08
Summary: The Eurozone PMIs showed that the bloc's economy contracted in November. Despite the UK economy contracting in November, the GBP extended a short-term recovery. CAD fared better than Sterling during the first sessions of the week Eurozone PMI data didn’t beat expectations by enough The market is reflecting mixed signals for this currency pair. The Eurozone PMIs showed that the bloc's economy contracted in November, but the magnitude of the decline was less severe than anticipated by the markets. The S&P Global Purchasing Managers Index (PMI) for manufacturing registered at 47.3, exceeding the consensus estimate of 46.0 and up from the previous month's reading of 46.4. Unfortunately for the euro, the positive data was insufficient to quell the bearish sentiment surrounding the currency, including recessionary risks and the ECB hawks' unwillingness to support a 75 basis point interest rate hike at the upcoming meeting. The day ahead should see increased volatility for the EUR/USD due to the prominence of US data. EUR/USD Price Chart UK economic outlook looks bleak The market is reflecting bearish signals for this currency pair. Following the release of statistics showing that, despite the UK economy contracting in November, corporate forecasts for the coming year increased from a 30-month low, the British pound extended a short-term recovery. The most recent S&P Global PMI readings indicated that economic activity continued to decline for another month, but the data was better than anticipated, so this would be a generally favorable development for markets. However, this downturn was predicted, and as economist at Berenberg Kallum Pickering puts it, "the recession is terrible, but not becoming worse." This remark is critical for the Pound given the dire economic prognosis for the UK. EUR/GBP Price Chart GBP/CAD outlook improved According to technical analysis from Scotiabank, the outlook for the Pound to Canadian Dollar exchange rate has improved further in recent trading. Sterling may now be able to hit some of its best levels since the end of the first quarter after gaining ground over the 1.57 mark last week. Although some believe this is likely merely a temporary setback for the Pound, the Canadian Dollar fared better than Sterling during the first sessions of the week after an over two month surge in GBP/CAD stopped following a run-in with technical support on the charts late last week. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
The Bank Of England Has Warned That Negative Growth Will Extend All The Way

UK recession fears heighten as the economy shrinks and the Brexit divide deepens, U.S economy shrank in November

Rebecca Duthie Rebecca Duthie 23.11.2022 17:37
Summary: UK economic activity shrank for a fourth straight month. Pragmatists vs Zealots driving the Brexit divide. In November, the U.S. economy shrank for the fifth consecutive month. UK recession fears heighten With new orders declining at the highest rate in nearly two years, UK economic activity shrank for a fourth straight month, signaling a recession that is expected to endure longer than a year. The S&P Global/Cips UK flash composite purchasing managers' index, which monitors changes in manufacturing and services activity on a monthly basis, remained essentially steady in November at 48.3 compared to 48.2 in October. The reading for November was the fourth consecutive reading below the 50-point threshold, which denotes a majority of businesses reporting a contraction, despite being higher than the 47.5 forecast in a Reuters poll. Additionally, price pressures decreased in November, in part due to a decline in demand. This, according to Williamson, suggests that the Bank of England may begin to raise interest rates gradually over the next few months. Markets anticipate that the Monetary Policy Committee of the BoE will raise interest rates by 50 basis points rather than the 75 basis points that were announced on November 3 at its meeting. According to the study, Rishi Sunak's election as prime minister increased corporate confidence, but managers' attitudes were among the most depressing observed over the previous 25 years. UK economic activity shrinks as recession fears mount https://t.co/fH7vq1akKf — Financial Times (@FT) November 23, 2022 UK government’s Brexit divide A top government official wonders in private about how to make Brexit work better for business and considers a "Swiss-style" arrangement. Tory hardliners start to denounce the move, and the prime minister immediately retracts his statement. Rishi Sunak had no other options. Even though he is a staunch supporter of Brexit and can say without irony, "exploit the economic opportunities of Brexit," his paranoid and discordant MPs continue to cast doubt on his commitment to the cause. The idea was more of a hazy medium-term desire to lower trade obstacles rather than a covert scheme. The Swiss model of selective access to the single market has a number of issues, not the least of which is that the EU despises it. Another is that the UK would still like to eliminate automatic adherence to EU regulations, oversight by the European Court of Justice, and free movement of persons. The third is that the EU is not overly concerned with altering the agreement. Failure to address the worst effects of Brexit helps those who want to undo the entire project, and this has become more urgent since the Truss government encouraged voters to link Brexit with the nation's economic woes. The true Brexit divide is now between pragmatists and hardliners https://t.co/dyVH23vGoB — Financial Times (@FT) November 23, 2022 US economy shrank for the fifth-consecutive month in November In November, the U.S. economy shrank for the fifth consecutive month, with a measure of new orders falling to its lowest level in two and a half years as higher interest rates hampered demand. The manufacturing and services sectors are monitored by S&P Global's flash U.S. Composite PMI Output Index, which dropped to 46.3 this month from a final reading of 48.2 in October, the company reported on Wednesday. A reading below 50 indicates that the private sector is contracting. The Federal Reserve's most aggressive interest rate hike cycle since the 1980s, which aims to reduce inflation by stifling economic demand, has caused activity to decline. Due in part to declining demand, businesses were also boosting prices for their goods at the slowest rate in little over two years, with some companies reporting concessions and reductions to persuade clients to place orders. The decrease in price measurements is consistent with statistics released this month that shows a marked slowdown in producer and consumer inflation in October. U.S. business activity weakens further in November - S&P Global survey https://t.co/aq0TapeO2XS&P Global said its flash U.S. Composite PMI Output Index fell to 46.3 this month from a final reading of 48.2 in October. — Yahoo Finance (@YahooFinance) November 23, 2022 Sources: ft.com, twitter.com, finance.yahoo.com
Dr. Copper: Building a Foundation Amidst Commodity Challenges

Elon Musk net worth has dropped by 37% in 2022

Rebecca Duthie Rebecca Duthie 22.11.2022 19:46
Summary: Musk hasn't been the same since he lost his position at the $200 billion club. Tesla shares are being weighed down by Musk’s twitter takeover. Musk’s fortune is declining with Teslas share value He was the only member for more than ten months of the world's most exclusive financial club, which has never had more than two members present at once. Up until a few weeks ago, the CEO of Tesla - Get Free Report and owner of the microblogging website Twitter had been a frequent visitor there. The $200 billion club that is. Musk hasn't been the same since he lost his position there. If the eccentric visionary is still the richest man in the world, his money has been declining. According to the Bloomberg Billionaires Index, Musk possessed a fortune of $170 billion as of Nov. 21. But this year, his net worth dropped by $101 billion, or 37%. Since Musk announced his takeover attempt on April 25, Tesla shares have dropped nearly 50% to $167.87, resulting in a $525 billion decline in market capitalization. Tesla shares have fallen 25% after the billionaire closed the Twitter transaction on October 27, representing a loss in market value of $180 billion in less than a month. The price of Tesla shares is down 52.4% overall for the year. Since Musk took on $13 billion in personal debt to fund the acquisition, his early moves at Twitter produced confusion, which made it even harder for him to turn the site profitable as soon as possible. He implemented waves of layoffs, issued a deadline to workers, and reactivated the account of former President Donald Trump, who had been blocked by the social network following the events of January 6, 2021 on Capitol Hill. Two-thirds of the staff, or 5,000 workers, left as a result of all this. The seasoned businessman recently said that since gaining control of Twitter, he had little time to sleep. The ongoing decrease in Tesla stock, which accounts for a sizable portion of Musk's wealth, is hurting him. Sources: finance.yahoo.com, thestreet.com
Saxo Bank Podcast: Natural Gas On Colder Weather, Wheat And Coffee Under Pressure, JPY Weaker And More

Gold rises in the wake of a retreating US dollar, potential rail strike weighs on US NGAS, Cotton futures under pressure

Rebecca Duthie Rebecca Duthie 22.11.2022 17:07
Summary: The US dollar retreated from a recent high, cousin gold prices to end a four-day slide. US natural gas futures declined after jumping 7.5% in the previous session. Cotton futures continued to be under pressure from persistent demand worries Gold prices rise in the wake of a weaker USD As the dollar retreated from a recent high, gold prices surged above $1,740 an ounce on Tuesday, ending a four-day slide. Investors were waiting for the minutes of the most recent Federal Reserve meeting, which may provide insight into the timing of future US interest rate increases. The comments of individual Fed officials were also analyzed by traders. For example, San Francisco Fed President Mary Daly cautioned against overtightening, while Cleveland Fed President Loretta Mester stated that she wants to see sustained declines in inflation before she can support a halt. The rate outlook has a significant impact on gold since it makes holding non-yielding metal more expensive, decreasing its appeal. Gold Dec ‘22 Futures Price Chart NGAS declined after a 7.5% rise in the previous session As gas traders watched weather patterns, the delay in Freeport's restart, and a potential rail strike, US natural gas futures declined after jumping 7.5% in the previous session. The largest US rail union's members rejected a tentative contract agreement signed in September, increasing the likelihood of a year-end strike that could halt coal shipments and make power plants use more gas. Additionally, according to current forecasts, extremely cold weather is expected to arrive during the first week of December, which will increase demand for gas-powered heating. On the other hand, more gas is anticipated to be kept available for domestic use now that the restart of the Freeport LNG export facility has been postponed until mid-December while repairs are made to the damage caused by the explosion in June. US utilities added 64 bcf of gas to storage last week, according to EIA data, bringing gas stockpiles closer to the 3.651 tcf five-year average for this time of the year. NGAS Dec ‘22 Futures Price Chart Cotton weighed down by concerns around demand Cotton futures continued to be under pressure from persistent demand worries resulting from difficult economic conditions and increased supplies, remaining close to a nearly 22-month low of last month and roughly 50% below their May peak. The US Department of Agriculture revealed larger-than-anticipated domestic production and lower worldwide demand forecasts for 2022–2023 in its most recent monthly report. A decline in the Southwest is more than compensated by increases elsewhere, resulting in a 1.5% increase in production in the United States, to 14.0 million bales. Additionally, it is anticipated that this month's worldwide cotton consumption will be 650,000 bales lower, with mill use in Pakistan and Bangladesh expected to be reduced by 300,000 bales. Cotton Mar ‘23 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
The EUR/USD Pair Maintains The Bullish Sentiment

Rising NGAS costs may pose downside danger to the Euro, UK economic outlook looks bleak

Rebecca Duthie Rebecca Duthie 22.11.2022 17:04
Summary: Euro held steady throughout Asian trading. Energy Bills Support Scheme's concurrent expiration, may have a greater negative impact on household earnings. NZD has had the best performance among major currencies over the past month. Euro faces downside risk The market is reflecting mixed signals for this currency pair. Following the turbulent start to the week on Monday, when the EUR/USD fell, the Euro held steady throughout Asian trading. The Fed speakers' continued hawkish posture, which also hurt markets, helped the US dollar increase. Risk assets were also hurt by a rise of Covid-19 cases in China because of concerns that harsh lock downs would continue there. Even while experts at one European bank claim there is "less pain in the pipeline" for the region and its single currency, rising natural gas costs in the Eurozone are recognized by foreign exchange strategists as a downside danger to the Euro. According to analysts, the little increase in gas prices coincides with a drop in temperatures across Europe after an abnormally warm autumn that allowed nations to stockpile gas supplies and use less gas than is customary at this time of year. EUR/USD Price Chart GBP under pressure from poor UK economic outlook The market is reflecting bearish signals for this currency pair. Early in the new week, the Pound to Euro exchange rate continued to rise after last Friday's advance, but after three straight days of gains, Sterling is now rapidly approaching a crowded area of technical resistances near and above the 1.16 level on the charts, suggesting that the rally may soon come to an end. The problem for families, the economy, and the pound is that, as a result of reforms outlined by Chancellor Jeremy Hunt in last Thursday's budget, energy costs are expected to grow dramatically once more starting in April 2023, when the average annual tariff would rise by another 20% to £3,000. Due to the Energy Bills Support Scheme's concurrent expiration, this will have a greater negative impact on household earnings. However, it will also have a positive impact on UK inflation rates and have additional effects on the state finances. EUR/GBP Price Chart NZD supported by improved investor sentiment Although the New Zealand Dollar has had the best performance among major currencies over the past month, one analyst claims that it is beginning to seem "stretched" in front of the Reserve Bank of New Zealand's upcoming interest rate announcement. The Kiwi has risen against all of its G10 counterparts over the past four weeks, helped by a noticeable improvement in investor sentiment worldwide and as investors raised their expectations for the amount of interest rate hiking to come from the RBNZ in response to a series of domestic data releases that exceeded expectations. Following New Zealand's October Q3 CPI inflation announcement, which exceeded estimates and bolstered expectations for a 75bp hike, the market increased its expectations. Data on the labor market and quarterly wages also confirmed these predictions. However, an analyst questions if the RBNZ will want to speed up rate increases given that it was among the first to act and has consistently moved rates by 50 basis points, and has no need to play catch-up given that it is one of the G10 rate leaders. GBP/NZD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
This Week's Tesla Stock Split Could Be The Best Moment To Buy The Stock! Twitter Stock Price Plunged!

FTX new management team finds lost money, UK economy’s future looks grim, Tesla EV safety problem

Rebecca Duthie Rebecca Duthie 22.11.2022 11:34
Summary: FTX cash has now been traced to a total of $1.24 billion by their new management team. Tesla announced it’s recalling 321,000 vehicles due to a safety problem. It’s predicted that the UK's economy will have the worst performance in the G20. Bankruptcy attorneys are working hard to stabilize FTX The bankrupt crypto conglomerate's (FTX) cash has now been traced to a total of $1.24 billion by FTX's new management team, who are working to identify the company's assets in time for a US court hearing later on Tuesday. In court documents, Edgar Mosley, an executive at the advisory firm Alvarez & Marsal, claimed that teams searching for the assets of the troubled crypto group had discovered "substantially higher cash balances” than were previously believed. After determining the amounts held in 144 of the 216 bank accounts it had linked to FTX and more than 100 affiliated companies, the company estimated in filings on Saturday that it had $564mn in bank balances. The revised cash data highlight the scope of the ongoing efforts by bankruptcy attorneys to stabilize FTX's financial situation. Sam Bankman-Fried's prior administration was criticized by the organization's new chief executive, veteran insolvency specialist John Ray III, for a "total lack of reliable financial information." The updated cash totals now include accounts belonging to Bankman-Fried's trading company Alameda Research worth around $400 million that weren't counted in the earlier total. In the face of cyberattacks, bankruptcy attorneys have also been fighting to protect FTX's stockpile of digital tokens. FTX management tracks down $1.24bn in cash holdings https://t.co/Dyl3HKpIuJ — Financial Times (@FT) November 22, 2022 The future of the UK economy looks dim The OECD said on Tuesday that countries must continue to make battling inflation their main priority. It predicted that the UK's economy will have the worst performance in the G20, aside from Russia, during the next two years. According to the OECD's most recent economic projections, UK GDP will decrease by 0.4% in 2023 and only increase by 0.2% in 2024. The Paris-based group criticized the UK government's promise to keep average household energy costs at £2,500 until April, claiming that this untargeted support would "increase pressures on already high inflation in the short term," leading to higher interest rates and debt service costs. The largest oil shock since the 1970s, meanwhile, had the global economy "reeling." According to the OECD's most recent predictions, growth in nearly every major economy is expected to be less in 2019 than it was in June as stubbornly high inflation reduced people's purchasing power. While the picture for the UK was startlingly dire, the OECD predicted growth of just 0.5% in the US and the euro area, with Germany also going into recession, and 2.2% global growth in the more resilient developing countries. The group also cautioned that the present energy crisis was "here to stay" and that Europe will be at even greater risk of experiencing gas shortages that might send the continent into a recession next winter. Breaking news: The UK’s economy is set to be the worst performer in the G20 bar Russia over the next two years, according to the OECD https://t.co/BiGs0rHChn pic.twitter.com/cohlrKKJPt — Financial Times (@FinancialTimes) November 22, 2022 Tesla’s tail light headaches Tesla (TSLA) is experiencing additional difficulties as the carmaker announced it is recalling 321,000 vehicles due to a safety problem. The car manufacturer said in a filing over the weekend that some Tesla Model 3 sedans and Model Y SUVs had a problem that caused the tail lamps to "intermittently glow," which in some cases resulted in poor visibility on the road. According to Tesla, the problem did not affect the brake lights. Tesla learned about the problem from owners of vehicles in non-U.S. regions, and after looking into it, decided to conduct a voluntary recall to correct the tail light issue. An over-the-air software update will be used to carry out the recall. The filing this weekend follows the recall of about 30K Model X SUVs in the US on last Friday due to a problem with the front passenger air bag, which will also be fixed with an OTA software update. Tesla recalls 321K cars for tail light issue; 19th recall this year for automaker https://t.co/Nn5I5LVyou by @Pras_S $TSLA — Yahoo Finance (@YahooFinance) November 21, 2022 Sources: finance.yahoo.com, ft.com, twitter.com
The Special Edition Of The Saxo Market Call Podcast: The Wild Year Of 2022 For Commodities And What May Be In Store In 2023

Oil bounces off a 10-month low on OPEC not considering increasing oil output

Rebecca Duthie Rebecca Duthie 21.11.2022 18:58
Summary: Oil prices rose from a 10-month low on Monday. G7 countries are planning to cap the price of Russian crude. OPEC are not planning an increase in oil output After Saudi Arabia "categorically" dismissed a report that Opec was considering an increase in output to help offset the loss of Russian supply, oil prices rose from a 10-month low on Monday. The international standard for crude oil, Brent, initially fell 6% to $82.79 per barrel before reducing its loss to 2% and trading at $85.95. The US benchmark, West Texas Intermediate, fell by a similar amount but later pared its losses to trade down about 2% at $78.50. Each benchmark's price fell to its lowest intraday level since January as a result. This was before Russia's invasion of Ukraine upended the world's crude markets and caused prices to skyrocket. After the Wall Street Journal revealed that Saudi Arabia and other Opec producers were debating increasing output by up to 500,000 barrels per day at the group's meeting in Vienna on December 4, the market became volatile. The cartel's de facto leader, Saudi Arabia, later claimed that it was "well known" that no decisions were discussed before meetings. Additionally, it would occur the day before the EU is scheduled to impose an embargo on oil exports from Russia and the G7 countries are planning to cap the price of Russian crude. The US dollar index, which compares the US dollar to six other currencies, increased 1% on Monday, continuing the comeback from the previous week, even though the US dollar is still down roughly 3% for the month of November. The lower-than-expected US inflation number for October and expectations that China might be about to loosen its zero-Covid stance had fueled speculation that the dollar may have peaked in late September. This week, however, investors had less confidence in the latter after the provincial capitals of Shijiazhuang and Guangzhou implemented stricter Covid controls to reduce cases. Sources: ft.com
OPEC+ Meeting: Saudi Arabia Implements Deeper Voluntary Cuts to Boost Oil Prices

Silver retreating from its five-month high, Brent crude dropping as COVID-19 cases in China surge, Corn futures

Rebecca Duthie Rebecca Duthie 21.11.2022 18:44
Summary: Silver futures are declining as investors weigh the Fed’s aggressiveness to fight inflation. Concerns over covid-19 related lockdowns in China are weighing on Brent crude. Corn futures up more than 12% in 2022. Silver down from a 5-month high As investors continued to assess the outlook on the Fed's aggressiveness to fight inflation, silver futures declined to below $20.7 per ounce, continuing its retreat from the five-month high of $21.7 hit on November 14th. This decline was pressured by a new rally for the US dollar. The expectation of higher interest rates not only increased the opportunity cost of keeping non-interest-bearing bullion assets, but also decreased demand for industrial silver used as electricity conductors, paralleling the reduction for copper. On the other hand, due in part to looming supply worries, silver futures are still 16% above the 14-month low of $18 per ounce reached on September 1st. In the last 18 months, inventories at the COMEX in New York have decreased by 70% to just over 1 million tonnes, while those at the London Bullion Market Association have decreased for 10 consecutive months to a record-low 27.1 thousand tonnes. Silver Dec ‘22 Futures Price Chart Brent Crude Oil dropped for its fourth consecutive session On Monday, Brent oil futures dropped below $87 a barrel for the fourth consecutive session due to worries that China might tighten its import restrictions and that major central banks will keep rising interest rates. Over the weekend, China announced the first Covid-related fatalities in six months, and on Monday, localized lockdowns were enacted in some locations as the world's largest oil importer battled resurgent Covid breakouts. Investors were also concerned that tighter financial circumstances might cause the world economy to enter a recession, which would harm demand for energy. However, investors continued to be wary of the very ambiguous supply outlook heading into the winter, with the European Union due to limit Russian crude exports starting in December and OPEC anticipated to maintain tight oil markets. Brent Crude Futures Price Chart Corn futures Since the start of 2022, corn prices have climbed by 71.34 USd/BU, or 12.03 percent, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Corn Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
GBP: Monitoring Data Outliers Amid Hawkish BoE Expectations

China’s COVID-19 regulations causing U.S Stocks to decline, Inflation in the UK could be pushed up by 1% in April

Rebecca Duthie Rebecca Duthie 21.11.2022 18:44
Summary: The Dollar was bid and stocks declined on Monday. The most recent budget from HM Treasury will push up inflation by a percentage point. AUD gave ground to most of its major currency counterparts to start the new week. Investor confidence improved in China The market is reflecting bearish signals for this currency pair. In spite of indications, the Dollar was bid and stocks declined. China is enforcing stricter regulations to combat a Covid-19 outbreak that is spreading. Three Covid deaths were reported by authorities over the weekend in Beijing, the first in more than six months. Just days after the nation said it was loosening some restrictions, there are reportedly early signs that some authorities are returning to a zero-Covid policy. In recent weeks, speculation that China would be willing to abandon its zero-Covid policy has intensified, boosting investor confidence amid speculation that the world's second-largest economy could spark a resurgence in global economic activity. This favorable environment proved to be a barrier for the dollar, which often gains when market anxieties are mounting and forecasts for global growth are weakening. EUR/USD Price Chart UK inflation expected to increase The market is reflecting mixed signals for this currency pair. Without changing the Bank of England (BoE) interest rate policy, own goals in c starting in April and force taxpayers to fork over an additional £5 billion or more to cover the increase in debt interest costs that results. The decision to reduce the household energy price guarantee and increase fuel taxes starting in April 2023 will result in higher inflation as measured by the consumer and retail price indices, which will automatically affect future government spending, particularly costs associated with debt servicing. Sterling pounds Live calculations indicate that these two factors will cause consumer price inflation to increase by an additional 1% in April and retail price index inflation to increase by 1.3%, both of which will raise the cost of servicing borrowings with inflation-linked interest rates by approximately £5BN. EUR/GBP Price Chart AUD gave ground to most of its major currency counterparts The Reserve Bank of Australia (RBA), the Federal Reserve (Fed), and the Bank of England will all be providing monetary policy commentary this week, so the Pound to Australian Dollar exchange rate has benefited from a corrective setback in AUD/USD that may keep Sterling buoyant above 1.7750 this week. The risk of new coronavirus-related economic closures in China weighed on asset prices throughout the Asia Pacific region as well as on the currencies of those countries exporting into the second-largest economy in the world, and Australia's dollar gave ground to most of its major currency counterparts to start the new week. AUD/GBP Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Franc Records 11th Consecutive Daily Decline Against the Dollar as US Economic Concerns Mount

Peak of the USD may take a few more quarters, the rise in COVID-19 cases in China is weighing on US stocks, the use of space for security

Rebecca Duthie Rebecca Duthie 21.11.2022 16:10
Summary: The USD may take a couple more quarters to peak. COVID-19 flare-ups in China rekindled worries about slowing growth. Russia's invasion on the Ukraine is proving how important space is for security. USD peak may come in the coming quarters Goldman Sachs (GS) warned in a research report on Friday that investors eager to predict when the dollar should peak may need to wait a few more quarters. According to historical cycles, peaks in the dollar are often accompanied by a "trough in measures of U.S. and global growth" and a loosening Federal Reserve, according to Goldman. According to Goldman, a dollar top would still seem to be "several quarters away," and the bank expects the Fed to wait until 2024 before starting its easing program. It also stated that the U.S. economy is not projected to soon reach its low point. The U.S. investment bank observed that despite a number of significant rate hikes, high inflation and consistent U.S. economic growth have supported the dollar. Estimates of the cyclically neutral rate have risen as a result of the Fed's admission that the idea of a "restrictive" policy rate is a changing objective. In line with the Fed, Goldman economists now anticipate a longer hiking cycle and an even higher terminal rate. While the smaller G10 economies are more sensitive to higher rates or changes to policy rates due in part to the rise in variable rate mortgages, the euro area continues to face significant challenges from energy shortages. The U.S. economy, on the other hand, has a better outlook and might be less sensitive to higher rates, according to Goldman, which should support the dollar. *U.S. DOLLAR 'TRUE' PEAK STILL A COUPLE OF QUARTERS AWAY: GOLDMAN SACHS - https://t.co/mBlo3F3hSq $USD 🇺🇸 🇺🇸 pic.twitter.com/YAo7OFeBTV — Investing.com (@Investingcom) November 21, 2022 US stocks in the wake of a rise in COVID cases in China The major Wall Street indexes were expected to open lower on Monday as COVID-19 flare-ups in China rekindled worries about slowing growth. In contrast, Disney shares surged as investors praised Bob Iger's unexpected return to the top job. Beijing issued a warning that the pandemic was posing its most serious test yet, closing down businesses and schools in hard-hit areas and tightening entry regulations as infections grew both locally and nationally. In premarket trading, shares of American casino operators with operations in China fell between 3.3% and 5.8%. These operators include Wynn Resorts (NASDAQ:WYNN) Ltd, Las Vegas Sands (NYSE:LVS) Corp, MGM Resorts (NYSE:MGM) International, and Melco Resorts & Entertainment (NASDAQ:MLCO) Ltd. American Airlines (NASDAQ:AAL) Group Inc. and Norwegian Cruise Line (NYSE:NCLH) Holdings Ltd., two companies in the travel industry, experienced declines of 0.7% and 1.2%, respectively. In spite of this, a 9.7% increase in Walt Disney (NYSE:DIS) Co was expected to prevent further drops in the Dow Jones Industrial Average following Bob Iger's appointment as the company's new CEO. After some officials reaffirmed the commitment of the U.S. Federal Reserve to continue tightening monetary policy until inflation was under control on Wednesday, attention also turned to the release of the minutes from its November meeting. *U.S. STOCK FUTURES DECLINE AS CHINA COVID CASES RISE; DISNEY JUMPS ON CEO CHANGE - https://t.co/v8TbZHlR6o pic.twitter.com/nv1fGxeHoN — Investing.com (@Investingcom) November 21, 2022 Space and and security The horrific Russian invasion of Ukraine has demonstrated just how important space is to our security. An invasion was foreshadowed in January by GPS imagery showing Russian forces gathering at the Ukrainian border. Satellite connections have kept frontline troops in touch with their leaders throughout the whole conflict. In the meantime, Ukraine's use of GPS-guided Himar rocket launchers has helped tip the scales of battle in their favor by enabling them to locate and eliminate Russian artillery and ammunition depots well behind enemy lines. This is the first significant conflict in which space-based technologies have been heavily utilized by both sides. It won't be the final. Ukraine shows how space is now central to warfare https://t.co/tolg7XW4WH | opinion — Financial Times (@FT) November 21, 2022 Sources: ft.com, twitter.com, investing.com
WTI crude oil down 4% on Friday, corn futures, gold stabilized on Friday but are still down this week

WTI crude oil down 4% on Friday, corn futures, gold stabilized on Friday but are still down this week

Rebecca Duthie Rebecca Duthie 18.11.2022 16:38
Summary:WTI crude touching 1-month lows.Gold prices stabilized around $1,760 an ounce on Friday but were on track to end the week lower.Corn futures have risen by more than 13% in 2022.WTI crude oil on track to lose over 10% this weekWTI crude futures fell 4% on Friday to around $78 per barrel, the lowest level in over a month, and were on track to end the week more than 10% lower due to a deteriorating demand picture that outweighed supply-side worries. In China, the world's top fuel importer, resurgent Covid outbreaks have crushed reopening hopes and muddied the demand outlook. There are still worries that major central banks' aggressive monetary tightening could push the world economy into a recession, which would harm demand for energy. President of the St. Louis Federal Reserve James Bullard recently warned that the federal funds rate might rise above what the market is currently pricing, to a range of 5 to 7 percent as authorities fight inflation. However, investors continued to be wary of the highly ambiguous supply outlook heading into the winter, with the European Union due to block Russian crude exports starting in December and OPEC anticipated to maintain tight oil markets. WTI Crude Futures Price ChartGold on track to end the week lowerDue to robust US Federal Reserve rhetoric that implied more rate rises than markets anticipated and resisted predictions of a Fed pivot, gold prices stabilized around $1,760 an ounce on Friday but were on track to conclude the week lower. Most significantly, St. Louis Fed President James Bullard stated that the policy rate is too lenient and that it might rise above what the market is currently pricing, to a range of 5% to 7% as authorities attempt to combat inflation. Mary Daly, president of the San Francisco Fed, reiterated that a pause is "off the table," and Esther George, president of the Kansas City Fed, cautioned policymakers against stopping rate increases too soon. Even though gold is frequently used as a hedge against inflation and economic uncertainty, owning non-yielding bullion becomes more expensive as interest rates rise. Gold Dec ‘22 Futures price chartCorn futuresSince the start of 2022, corn prices have climbed by 77.91 USd/BU, or 13.13 percent, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Corn Mar ‘23 futures price chartSources: finance.yahoo.com, tradingeconomics.com
Mexican Rate Spread: Tight vs. Central Bank's Rate Spread and Implications for Dis-inversion

The Fed may begin slowing their interest rate hiking cycle, UK promising to return to fiscal credibility

Rebecca Duthie Rebecca Duthie 18.11.2022 16:34
Summary: EUR/USD currency pair has risen 4% over the past 2 weeks. GBPs response to investor sentiment globally to determine near term credibility. The CAD was outperforming many other major currencies this year, but recently started to lag behind them. EUR/USD has risen by 4% over the past 2 weeks The market is reflecting bullish signals for this currency pair. The Euro will decline against the Dollar in the coming months, comfortably falling below parity, according to Danske Bank's unwavering forecast. The rate of exchange between the Euro and the Dollar (EUR/USD) has increased by 4.0 percent over the last two weeks as a result of signs that U.S. inflation is slowing down as well as market analysts' conviction that the Federal Reserve will reduce the pace of its rate hikes, giving investors more confidence to price the peak in interest rates. Data released on Wednesday showed that American consumers were still in good shape, with retail sales increasing by 1.3 percent in October, an acceleration from the 0 percent recorded in September and higher than the market's forecast of 1.0 percent growth. Therefore, the Fed may slow down its rate rise cycle but lengthen it, providing a series of 25 basis point rate adjustments over the ensuing months that may still provide support for the Dollar. EUR/USD Price Chart EUR/GBP on track to end the week slightly higher The market is reflecting mixed signals for this currency pair. The UK's Autumn Statement, which promised a return to fiscal credibility, was well received by the financial markets, but the direction of the near term should be determined by how the British Pound responds to investor sentiment globally. As part of his effort to tighten fiscal policy and ensure that the nation's finances remained on a sustainable footing, Chancellor Jeremy Hunt proposed savings totaling £55BN, or roughly 2.0 percent of GDP. The Pound-Euro rate appears to be on track to conclude the week slightly higher, and the Pound-Dollar rate is also slightly higher than it was at this time last week, consolidating the huge gains from the previous week. EUR/GBP Price Chart CAD emerging as a top option for speculative short-selling The Canadian Dollar has outperformed many other major currencies this year, but recently started to lag behind them. As a result, the Canadian Dollar is quickly emerging as a top candidate for speculative short-selling by Spectra Markets in advance of an anticipated economic slowdown caused by rising mortgage rates. By Friday, Canada's Dollar had dropped to third place in the ranking of the G10 currencies for the year after suffering significant losses against all significant rivals other than the US. Over the period of November, the dollar has generally corrected lower. The main thesis is that a large rise in Bank of Canada (BoC) interest rates this year will eventually affect Canadian homeowners' monthly mortgage payments. Higher borrowing costs are anticipated to reduce household earnings and have negative second-round impacts on a number of economic sectors. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
The British Pound Is Showing Signs Of Exhaustion Of The Bullish Force

The price of Brent Crude oil dropped below $90, UK economic outlook, Qatar bans beer sales last minute

Rebecca Duthie Rebecca Duthie 18.11.2022 14:32
Summary: A worsening demand forecast is driving Brent crude oil down. UK living standards are expected to drop by the most in six decades. 48 hours before the Word Cup begins, Qatar banned the sale of beer in supporter zones. Brent Crude oil price drop below $90 A worsening demand forecast trumped supply-side worries as Brent crude futures traded below $90 per barrel on Friday and were expected to conclude the week more than 6 percent lower. In China, the world's top fuel importer, resurgent Covid outbreaks have crushed reopening hopes and muddied the demand outlook. There are still worries that major central banks' aggressive monetary tightening could push the world economy into a recession, which would harm demand for energy. President of the St. Louis Federal Reserve James Bullard recently warned that the federal funds rate might rise above what the market is currently pricing, to a range of 5 to 7 percent as authorities fight inflation. Though the European Union is poised to block Russian crude exports starting in December, and OPEC is anticipated to keep oil markets tight, traders remained wary of the supply outlook heading into the winter. Brent crude oil has dipped below $90 for the first time since October. https://t.co/fCTebNF4GD pic.twitter.com/ZLv0beAm1n — Yahoo Finance Plus (@yfinanceplus) November 17, 2022 UK chancellor Hunt “mini” budget The contrast between Chancellor Jeremy Hunt's Autumn Statement and his predecessor Kwasi Kwarteng's "mini" Budget was so stark that it appeared as though a new political party had taken office. Britain has gone from having the biggest tax cuts in 50 years to the strictest combination of revenue-raising and spending restraints in more than a decade in the span of eight weeks. The market response indicates that despite being backloaded, the £55 billion in budget cuts were successful in calming investors. The dismal prognosis that required the measures, however, was even more striking than the actual actions. Living standards are expected to drop by the most in six decades, and the economy won't recover to its pre-pandemic level until the end of 2024. Despite the stabilization of its finances, Britain's persistent development issues persist. In order to reassure investors that he was serious about budget contraction, the Conservative chancellor needed to take the right amount of action without frightening away his own backbenchers. Convincing investors that Hunt and the incoming PM Rishi Sunak are serious individuals came down to tone and presentation when restoring respect. Support for the Bank of England's efforts to fight inflation, as well as its independence and respect for the Office for Budget Responsibility, the government's watchdog, were correctly emphasized in the discourse. In essence, it makes political and economic sense to postpone the majority of the tightening until 2025 and achieve almost half of it through tax increases. A dismal outlook for the UK economy https://t.co/GeFI5zRmBp | opinion — Financial Times (@FT) November 17, 2022 Qatar banning beer suddenly Just 48 hours before the tournament starts, Qatar made a sudden U-turn on its alcohol policy and banned the sale of beer in supporter zones at World Cup stadiums. However, the Gulf state agreed to permit the sale of Budweiser, one of the World Cup's largest sponsors, in specific places outside the eight stadiums holding games. The Gulf state restricts the sale of alcohol to high-end hotels. But according to Fifa, after discussions between the host country authorities and Fifa, beer sales kiosks will no longer be present around stadium boundaries. There was a last-minute change of heart due to worries that Qataris would feel uncomfortable in locations where people were drinking for up to three hours before matches, according to persons briefed on the organizers' thinking. Alcoholic beverages are now restricted to stadium hospitality sections and specific Doha locations, like the Fifa Fan Festival, where a cup of beer costs nearly GBP12. Beer without alcohol will still be offered in stadiums. Fifa, which has a 30-year commercial agreement with Budweiser, finds the action insulting. Later on Friday, an announcement regarding the change in policy is anticipated. In a since-deleted tweet, Budweiser responded to the prohibition by writing, "Well, this is awkward". Qatar bans beer from World Cup fan zones https://t.co/0xLKSQ6ibO — Financial Times (@FT) November 18, 2022 Sources: twitter.com, ft.com, finance.yahoo.com
UK PMIs Signal Economic Deceleration, Pound Edges Lower

NVIDIA (NVDA) Q3 earnings results outperformed part of the markets forecasts

Rebecca Duthie Rebecca Duthie 17.11.2022 17:59
Summary: Revenue surpassed analysts' projections, earnings per share lagged behind. Nivida’s Q4 revenue estimates fell short of investor expectations. NVIDIA Q3 earnings The industry leader in graphics chips, Nvidia (NVDA), released its Q3 earnings results after the market closed on Wednesday. While revenue surpassed analysts' projections, earnings per share lagged behind. According to data provided by Bloomberg, the company outperformed Wall Street forecasts in the following areas: revenue ($5.93 billion vs. $5.79 billion projected). EPS after adjustments: $0.58 vs. $0.70 anticipated. Gaming income was $1.57 billion as opposed to the predicted $1.32 billion. Revenue from data centers: $3.83 billion versus $3.7 billion anticipated. With a $6 billion forecast, Nvidia's Q4 sales fell just shy of Wall Street estimates. Analysts anticipated $6.09 billion. Shares of Nvidia increased by about 2% after the revelation. In the quarter, income from data centers increased by about 31% year over year, but revenue from gaming fell by 51%. As consumer and commercial demand for electronics has decreased following the enormous rise the sector experienced during the epidemic, chip stocks have taken a beating this year. After stocking up during shutdowns, consumers don't need as many computers, and businesses already have plenty of equipment for their remote and hybrid workers. The future of NVIDIA Nvidia reduced chip manufacturing in Q2 while CEO Jensen Huang informed investors that the business was attempting to better match inventory to chip demand. During the pandemic, Nvidia's graphics chips were in such great demand that they were fetching hundreds of dollars more than their retail costs. However, as people resumed their pre-pandemic lifestyles, demand for chips decreased and prices returned to normal. Nvidia is also making efforts to maintain its ability to sell its premium goods in China. As a substitute for the A100 chip, which the U.S. government claimed was too potent to be shipped to China, Nvidia started selling its new A800 processor there during Q3 of this year. The administration is concerned that China will employ the technology for military purposes. NVDA Price Chart Sources: finance.yahoo.com
Australia Is Expected To Produce A Bumper Year Of Crops

Platinum supply could experience a shortfall, gasoline touching 4-week lows, wheat touching 2.5 month lows

Rebecca Duthie Rebecca Duthie 17.11.2022 16:59
Summary: Platinum futures declined below the $1,000 per ounce barrier. Gasoline prices extended to the lowest level in nearly four weeks. Chicago wheat futures fell below a level not reached since late August. Platinum futures down from 8-month high As new outbreaks in top user China crushed hopes for a potential end to its zero-Covid policy, clouding the outlook for demand, platinum futures declined below the $1,000 per ounce barrier, sliding further from an eight-month high of around $1,050. According to statistics from the World Platinum Investment Council, the supply side of the platinum market could experience a shortfall of 219,000 ounces in 2023 as opposed to a surplus of 974,000 ounces in 2022. Beyond the reduction in supplies globally, there was ongoing concern regarding Russian exports. After South Africa, Russia is the second-largest supplier of platinum worldwide. Platinum Jan ‘23 futures price chart Gasoline on track for its 4th consecutive weekly decline Due to increased supply, gasoline futures saw their losses deepen to below $2.5 per gallon in mid-November, the lowest level in nearly four weeks. Following a fourth consecutive week of declines, the latest EIA data revealed that US gasoline stockpiles increased by 2.207 million barrels to 207.9 million last week, far exceeding market forecasts of a 0.31 million-barrel increase. According to the data, US refineries processed an average of 16.2 million barrels of crude oil per day during the week ending November 11th, which is 63,000 barrels per day more than the previous week's average. This is the sixth week in a row that gasoline production has climbed. RBOB Gasoline Dec ‘22 Futures Price Chart Wheat touching late August lows Chicago wheat futures fell below $8 per bushel, a level not reached since late August, as steady exports from a key exporter, Ukraine, allayed concerns about a lack of supply around the world. The UN-mediated agreement has been extended by Russia for another four months, ensuring a trade route through the Black Sea and releasing pressure on world food prices. As a result of stronger output in Australia and Kazakhstan offsetting probable decreases in Argentina and the EU, figures from the USDA's WASDE report improved predictions for the world supply and ending inventories for the forthcoming marketing year, contrary to expectations of a decline. Wheat futures price chart Sources: finance.yahoo.com, tradingeconomics.com
Serious liquidity crisis? According to Franklin Templeton, a massive, but unlikely deposit flight from Credit Suisse would have to happen

Eurozone headline inflation reached a record high in October, The UK’s future prospects for future economic development, CHF is the second best performing currency for 2022

Rebecca Duthie Rebecca Duthie 17.11.2022 16:10
Summary: Final headline inflation in the Euro Area reached a record high. Tax increases and spending reductions in the UK. CHF becomes the second best performer of 2022. EUR/USD constrained by interest rate disparity The market is reflecting mixed signals for this currency pair. Final headline inflation in the Euro Area reached a record high of 10.6% in October, just under the earlier estimate of 10.7%. Data from Eurostat show that the highest annual rate in October was for energy, which was at 41.5 percent (up from 40.7 percent in September), followed by food, alcohol, and tobacco, which had a rate of 13.1 percent (down from 11.8 percent in September), and non-energy industrial goods, which had a rate of 6.1 percent (compared to 5.5 percent in September). As the post-CPI surge slows, the current gain in the EUR/USD has come to an end. The prices in the ultra-short end of the US bond market are stable even as market forecasts of a reduction in rate increases rise. The yield on a one-year US Treasury bill is approximately 4.66 percent, which is more than 250 basis points higher than the yield on a one-year German bond. Any short-term increase in the EUR/USD currency will continue to be constrained by this interest rate disparity. EUR/USD Price Chart GBP relying on Hunts credibility The market is reflecting bullish signals for this currency pair. The UK's prospects for future economic development will be diminished by the tax increases and spending reductions, but a convincing autumn statement from Chancellor Jeremy Hunt might boost the value of the pound sterling. This is due to the fact that reputation will determine how the market responds to the fiscal event on Thursday. Hunt is expected to present a budget that will hinder development; however, the Pound's response will ultimately depend on how the market reacts to the credibility issue. Some analysts caution that while the Pound might gain from renewed confidence, its value could still drop if Hunt is overly bold and his recommended level of austerity becomes overwhelming. EUR/GBP Price Chart CHF could continue to strengthen According to analysts at Nomura, the Swiss Franc has flipped the major currency league table on its head to become the second best performer of 2022. However, it could rise even further against the Pound and even have the potential to bring the GBP/CHF rate back to 1.0555 in the coming months. In the early months of the year, the Swiss Franc had given the Japanese Yen a tough fight for the bottom spot in the performance rankings of the major currencies, but a hawkish stance by the Swiss National Bank (SNB) and a supportive foreign exchange policy have reversed the previous order of performances. The SNB has become open to buying back its own currency whenever market circumstances cause the Franc to weaken, even though it is still prepared to suppress the Franc if it appreciates too much for its tastes. This is because doing otherwise would raise Switzerland's inflation rate further. GBP/CHF Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
TEST

Many sued in FTX scandal, Elon Musk to reduce his time at Twitter, EU stocks edged higher on Thursday

Rebecca Duthie Rebecca Duthie 17.11.2022 13:34
Summary: U.S cryptocurrency investors suing a number of celebrities in the FTX crash. Musk predicted on Wednesday that he would soon spend less time managing Twitter. European markets declined and US futures edged up. FTX scandal leaves celebrities sued FTX founder Sam Bankman-Fried, as well as a number of celebrities who supported his exchange, such as NFL quarterback Tom Brady and comedian Larry David, were sued by U.S. cryptocurrency investors who claimed they used misleading tactics to sell FTX yield-bearing digital currency accounts. The FTX yield-bearing accounts, according to the proposed class action lawsuit filed on Tuesday night in Miami, were unregistered securities that were forcibly offered in the country. As a result of accusations that $10 billion in customer assets were transferred from FTX to Bankman-trading Fried's firm Alameda Research, FTX filed for bankruptcy and is now under investigation by American authorities. Reuters has been informed by sources that at least $1 billion in client cash are stolen. U.S. investors allegedly suffered losses of $11 billion when the cryptocurrency exchange failed due to liquidity issues, according to the lawsuit. David, the creator of "Seinfeld" and "Curb Your Enthusiasm," as well as 11 athletes and other celebrities who marketed FTX, are being sued for damages. Bankman-Fried is also being sued. The Golden State Warriors basketball franchise, tennis player Naomi Osaka, and Brady are all defendants in the lawsuit. Prior to now, investors and the US Securities and Exchange Commission have sued famous people for falsely endorsing cryptocurrencies. *TOM BRADY, GISELE BUNDCHEN, STEPH CURRY, AND LARRY DAVID AMONG CELEBS SUED OVER FTX 'PONZI SCHEME' - https://t.co/Jga8DTaRrZ pic.twitter.com/48ZdRZAFVa — Investing.com (@Investingcom) November 17, 2022 Musk at twitter Elon Musk predicted on Wednesday that he would soon spend less time managing Twitter and find someone else to do so. The remarks were made by Musk as he testified in a Delaware court to refute allegations that his $56 billion compensation package at Tesla (NASDAQ:TSLA) was based on performance goals that were simple to meet. The Wall Street Journal claimed on Monday that Musk stated that his "workload has recently increased quite a lot" during a virtual appearance at the B20 business conference in Indonesia. "I have too much work on my plate, that is for sure," the CEO of Tesla, Twitter, SpaceX, and Boring Company said. Concerns about Musk's present workload have been raised by numerous Musk supporters. In a later tweet, he said he had "Tesla covered too. Will be there part of this week," after tweeting that he had been "at Twitter SF HQ all night. Will be working & sleeping here until org is restored." *ELON MUSK SAYS HE EXPECTS TO REDUCE TIME AT TWITTER AND FIND SOMEONE TO RUN THE COMPANY - https://t.co/mvj7lIWYj7 pic.twitter.com/PzUBo3kjru — Investing.com (@Investingcom) November 17, 2022 US stocks increased slightly on Thursday On Thursday, investors weighed conflicting economic statistics coming out of the world's largest economy and anticipated a significant budget speech in the UK. European markets declined and US futures edged up. Germany's Dax rose 0.2% while the regional Stoxx Europe 600 dipped 0.1%. The S&P 500 on Wall Street gained 0.1%, and the Nasdaq 100, which is heavily weighted toward technology, gained 0.2%. Ahead of UK chancellor Jeremy Hunt's anticipated announcement of a comprehensive package of spending cuts and tax increases intended to rein in inflation, mend the nation's shattered finances, and repair some of the reputational damage caused by his predecessor Kwasi Kwarteng's disastrous "mini" Budget in late September, London's FTSE index fell 0.5%. Data released on Wednesday revealed that on the strength of rising energy and food costs, UK inflation soared to a 41-year high in October, increasing to 11.1 percent from 10.1 percent in September. Even though figures indicate the UK has already entered a recession, the report increases pressure on the Bank of England to hike interest rates from their current level of 3% when it meets again in December. Sterling lost its early gains and fell 0.2% to $1.18 against the dollar. The actions follow an unexpected increase in US retail sales in October. European stocks nudge higher as investors digest economic data https://t.co/AjA80ozugQ — Financial Times (@FT) November 17, 2022 Sources: ft.com, investing.com, twitter.com
Musk testified in Delaware court on Wednesday claiming he had little say in the Tesla payout that helped him become the world's richest man

Musk testified in Delaware court on Wednesday claiming he had little say in the Tesla payout that helped him become the world's richest man

Rebecca Duthie Rebecca Duthie 16.11.2022 18:54
Summary: Elon Musk testified that he was not involved in the pay negotiations. Shareholders claim the board is made up of Musks ‘pals’. Musk testified on Wednesday On Wednesday, Elon Musk testified that he was not involved in the negotiations among Tesla board members about a 2018 compensation plan that gave him billions in stock options and helped him become the richest person in the world. Speaking in a Wilmington, Delaware courtroom, Mr. Musk rebutted claims made in a shareholder complaint that the board of the electric car company was comprised primarily of his pals and other close associates who carried out his orders. In the lawsuit in which Mr. Musk is testifying, the focus is on a compensation package that provided Mr. Musk stock options that allowed him the ability to purchase nearly $50 billion worth of Tesla shares if the firm fulfilled specific sales, profit, and share price gain benchmarks. The agreement was one of the biggest of its kind at the time, and many other business boards have used it as a model to reward top executives. Attorneys for the shareholder Richard Tornetta, who filed the lawsuit, claim in court filings that Mr. Musk began discussing his remuneration package with Ira Ehrenpreis, the director who oversaw the board's compensation committee, in April 2017. Additionally, the plaintiff's attorneys claimed in court documents that Tesla directors and executives testified that the board did not anticipate Mr. Musk leaving the organization and had not started to find suitable successors to him. The company's shares started rising substantially more than a year after the 2018 Tesla compensation agreement was implemented, increasing from about $21 to a record of about $410 in November 2021. Since then, it has decreased by roughly 50% and currently costs around $190. Chancellor Kathaleen McCormick of the Delaware Court of Chancery is hearing the issue. She also ruled over the brief legal action Twitter brought against Mr. Musk in July to compel him to complete the acquisition of the social media giant after he attempted to back out of the transaction. Last month, Mr. Musk closed the transaction. TSLA price chart SourceS: finance.yahoo.com, nytimes.com
The Commodities Feed: First US crude draw this year

WTI Crude Oil futures, Palladium futures touching 1-month highs, Coffee touching 15-month lows

Rebecca Duthie Rebecca Duthie 16.11.2022 17:32
Summary: Palladium futures extended gains to their highest in a month. The price of Arabica coffee futures dropped to its lowest level in 15 months. Oil prices were kept in check by worries about a global economic downturn. WTI Crude futures After a Russian-made missile struck Polish territory and killed two citizens, geopolitical worries shook the markets, as WTI crude futures hovered close to $87 per barrel on Wednesday. The missile's launcher is still unknown with certainty, according to Polish President Andrzej Duda, who also noted that it was an isolated incident. As the European Union prepares to impose an embargo on Russian crude supplies starting in December, the possibility of a wider conflict in Europe threatens to compound the outlook for a tightening supply on the oil market. OPEC further reduced its estimates for the growth of the world's oil consumption in 2022 and 2023, citing escalating economic problems such high inflation, rising interest rates, and supply chain disruptions. Oil prices were kept in check by worries about a global economic downturn as major central banks tightened policy further and uncertainty relating to COVID in the world's largest petroleum importer, China. WTI crude futures price chart Palladium futures supported by prospects of a more dovish fed The dollar index neared 3-month lows as palladium futures extended gains to above $2,070 per ounce, the highest in a month, on the expectation that the Fed will raise interest rates more slowly as inflation starts to decline. As a result of higher interest rates, slower economic development, and the replacement of platinum for palladium, palladium prices are still 35% below their March peak. After four straight 75 bps rises, the Federal Reserve, the most powerful central bank in the world, is anticipated to boost the fed funds rate by 50 basis points in December. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. The palladium market is projected to be balanced or in deficit this year and next year, according to analysts who predict supply-demand balances. Palladium Mar ‘23 futures price chart Coffee futures fell due to improved supply prospects The price of Arabica coffee futures dropped to $1.64 a pound, its lowest level in 15 months, as supply prospects improved and demand projections were expected to decline. World Weather reported that Brazil's 2023–24 coffee crop had grown in a "very excellent climate" due to frequent rain and plenty of sunshine, sparking hopes for a potential record production in the top producer Brazil the following year. Additionally, Colombia, Mexico, and Central America are predicted to produce better crops. Demand is expected to decrease at the same time that global growth slows. Even yet, according to the most recent statistics, ICE-certified arabica stocks hit a new low of 384,795 bags, which is a 23-year low, although traders predicted that stocks would soon rebound. Coffee Mar ‘23 futures price chart Sources: finance.yahoo.com, tradingeconomics.com
Growth Of The USD/JPY Pair Is Hampered By Resistance

Euro has remained resilient to currency counterparts despite Tuesdays events in Poland, Yen supported by USD decline

Rebecca Duthie Rebecca Duthie 16.11.2022 17:29
Summary: The EUR/USD has displayed remarkable resilience to trade higher. The British Pound plummeted against the Euro. The JPY has clearly benefited from the decline in the value of the USD. Financial markets are on high alert The market is reflecting bullish signals for this currency pair. According to the most recent 30-day Fed Fund futures price information, the Federal Reserve is anticipated to increase interest rates by a further 100 basis points over the upcoming months, to 475–500bps, and then suspend their tightening cycle. Despite yesterday's concern following reports of a missile landing in Poland, the EUR/USD has displayed remarkable resilience to trade higher this morning. According to Joe Biden's remarks, it seems improbable that Russia fired the missile based on its trajectory. Due to the possibility of a wider conflict now that a NATO ally has been negatively impacted by the Russia/Ukraine crisis, the missile has put Europe, NATO, and financial markets on high alert. At 9:00 GMT, NATO has called an emergency meeting to review yesterday's events and the alliance's response. EUR/USD price chart UK inflation figures caused GBP to decline The market is reflecting mixed signals for this currency pair. Following some hotter-than-expected UK inflation figures that suggested the Bank of England could not yet afford to stop its interest rate hike cycle, the British Pound plummeted against the Euro, the Dollar, and other major currencies. However, we cautioned in our week-ahead forecast that the market might now consider stronger-than-expected inflation as a negative, as rising prices and interest rates would snuff out the UK's prospects for economic development. Normally, such a result would help the Pound. EUR/GBP price chart JPY supported by weak USD The market is reflecting mixed signals for this currency pair. The Japanese Yen has clearly benefited from the decline in the value of the US dollar in November, outperforming all other major currencies. However, analysts at MUFG believe the Japanese Yen could rise even more in the future, especially against the British pound. They advise clients to bet against the GBP/JPY pair and look for a fall to 158. After official data revealed that U.S. inflation softened in October, the Yen surged substantially against all equivalents in the G10 group of major currencies, but analysts at Japan's largest banking MUFG claim that this was just the start of a longer-lasting rebound. GBP/JPY price chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Solid Wage Growth in Poland Signals Improving Labor Market Conditions

UK inflation accelerated in October, remote disabled workers could assist in bringing down unemployment, Asian stocks fell in the wake of missile strike in Poland

Rebecca Duthie Rebecca Duthie 16.11.2022 11:51
Summary: The UK's inflation rate accelerated to 11.1 percent in October. Due to COVID, more disabled employees are now employed. Reports that two individuals were killed by a Russian-made rocket in eastern Poland caused risk-sensitive markets to fall. UK inflation surpassed expectations On the basis of rising energy and food prices, the UK's inflation rate accelerated to 11.1 percent in October, reaching a new 41-year high. The rate increased from 10.1% in September, according to the Office for National Statistics, bringing inflation to its highest point since October 1981. In a Reuters poll, economists predicted a rate of 10.7%. The government's energy price guarantee, which set a maximum on gas and electricity bills at £2,500 for a household using both fuels on average, did not prevent the significant increase in living expenses. One encouraging aspect of the data was that core inflation, which excludes food and energy, remained constant in October at 6.5%, matching its level from the previous month. In his Autumn Statement on Thursday, Chancellor Jeremy Hunt blamed Russia's invasion of Ukraine for the rising cost of living crisis and promised to make "difficult but necessary decisions on tax and spending" to assist lower inflation. “We cannot have long-term, sustainable growth with high inflation. Tomorrow I will set out a plan to get debt falling, deliver stability, and drive down inflation while protecting the most vulnerable,” Hunt said. UK inflation accelerates to 41-year high of 11.1% https://t.co/N0fRWxcK9o — Financial Times (@FT) November 16, 2022 Hiring remote disabled workers could assist in Americas labor crisis Although the end of America's widespread labor crisis is still not in sight, some economists contend that having a workforce with a wider range of abilities in today's hybrid workplace could assist. Due to COVID, more disabled employees are now employed thanks to the shift to working from home or using a hybrid approach. Disability-related adults between the ages of 25 and 54 "are 3.5 percentage points more likely to be employed in Q2 2022 than they were pre-pandemic," according to the Economic Innovation Group (EIG). In comparison, non-disabled people continued to have a 1.1 percentage point lower likelihood of being employed. The coronavirus epidemic, which eliminated 500,000 jobs from the American workforce, and the Great Resignation, which began following the outbreak, are both factors in the current labor crisis. According to the U.S. Chamber of Commerce, there would still be around 4 million unfilled positions even if every unemployed person found employment. Prior to COVID, 6.3% of people with disabilities and 5.9% of people without disabilities worked from home. Because it removes obstacles like driving to work and other locations that can be challenging to manage, working remotely boosts productivity for employees with impairments. She pointed out that perks like closed captioning, flexible working hours, medical breaks, and the use of one's own assistive equipment help employees produce the highest-quality work, boosting a company's financial success. Due to their unique perspectives and environments, these people really have an advantage over their non-disabled coworkers who aren't disabled. Hiring remote disabled workers could help close the labor gap, economist says https://t.co/GkQxnaRg1D by @tanyakaushal00 pic.twitter.com/91zBf47AGI — Yahoo Finance (@YahooFinance) November 16, 2022 Missile that hit poland weighing on Asian stocks As investors sought more information on a potential Russian missile assault on Poland, Asian stock markets declined on Wednesday. However, anticipation that the Federal Reserve will hike interest rates more slowly helped to limit losses. As investors locked in a stellar three-day gain streak, Hong Kong stocks had the worst day, with the Hang Seng index down 1.1%. With recent increases, the Hang Seng has come very close to confirming a bull market rally from recent lows. Following reports that two individuals were killed by a Russian-made rocket in eastern Poland on Wednesday, risk-sensitive markets fell. If the attack was carried out by Russia, it would be the first time since Moscow invaded Ukraine that a NATO member had been attacked by Moscow (NATO). The action might also herald an escalation in the confrontation between Russia and Ukraine, especially in light of NATO involvement. However, early remarks from Moscow and Washington imply that such an outcome might not occur. *GLOBAL STOCKS SLIP IN CAUTIOUS TRADE AS MARKETS WEIGH POLAND MISSILE STRIKE https://t.co/IZatRFKYp3 — Investing.com (@Investingcom) November 16, 2022 Sources: finance.yahoo.com, twitter.com, ft.com, investing.com
The GBP/USD Pair Did Not Reach The Nearest Target Level Of 1.2259

United Kingdom headline inflation beat market expectations but GBP remains in hostile environment

Rebecca Duthie Rebecca Duthie 16.11.2022 09:15
Summary: Stagflation is exemplified by the UK as a hostile environment for the pound. The headline CPI inflation rate was 11.1% YoY. BoE is forced to keep hiking interest rates. GBP CPI beat market expectations Stagflation, in which an economy is plagued by rising prices and a lack of growth, is best exemplified by the UK as a hostile environment for the pound. In October, the headline CPI inflation rate was 11.1% year over year, easily surpassing September's reading of 10.1% and beyond the consensus forecast of 10.7%. According to the ONS, core inflation, which is a better indicator of "home grown" inflationary pressures, increased by 6.5% in October, unchanged from September but higher than consensus expectations of 6.5%. Due to the fact that this is three times greater than the Bank of England's legal target of 2.0%, the Bank is forced to keep hiking interest rates. The increase in energy costs following the Ofgem price increase in October also contributed to the surge. It should be noted that if not for the government's Energy Price Guarantee, which regulates the amount that households pay for energy, inflation would have been closer to 13.8%. Rising prices and interest rates continue to be a threat to the UK economy, and on Thursday, Chancellor Jeremy Hunt is expected to unveil yet another round of tax increases and spending reductions, adding to the misery. Market reaction to the GBP CPI inflation Following some hotter-than-expected UK inflation figures that suggested the Bank of England could not yet afford to stop its interest rate hike cycle, the British Pound plummeted against the Euro, the Dollar, and other major currencies. The FTSE 100 index rallied in the wake of the release of the data. However, we cautioned in our week-ahead forecast that the market might now consider stronger-than-expected inflation as a negative, as rising prices and interest rates would snuff out the UK's prospects for economic development. Normally, such a result would help the Pound. Sources: poundsterlinglive.com, dailyfx.com
Apple May Surprise Investors. Analysts Advise Caution

European chipmakers seek stability in the wake of new US export restrictions

Rebecca Duthie Rebecca Duthie 15.11.2022 19:13
Summary: European chipmakers said they are looking for stability for their operations. Washington's export restrictions hinder operations of global supply chains. Chipmakers seeking stability Leading European chipmakers said they are looking for stability for their operations in China as Washington's export restrictions hinder operations of global supply chains. STMicroelectronics, Infineon, and NXP Semiconductors' chief executives stated on Monday that while they are in compliance with Washington's export restrictions against China's semiconductor industry, they do not have any plans to stop doing business in the Asian nation, which has the second-largest economy in the world. One of the largest semiconductor trade fairs in Europe, Electronica in Munich, hosted the CEO Roundtable special event where the remarks were made. Early in October, the US Department of Commerce began a fresh wave of export control measures to limit China's capacity to develop cutting-edge computer and artificial intelligence technology by limiting access to US technologies. As their products for the Chinese market are more about mature chip production technology than the advanced ones targeted by Washington, European companies who supply tools used in chip production, like ASML, and European chipmakers are less affected by the new laws than American companies. Geopolitical unrest for European chipmakers However, European chip companies are concerned that the geopolitical unrest brought on by the escalating hostilities between Washington and Beijing will stymie their business activities in China. The Joe Biden administration reportedly tried to establish a trilateral deal with Japan and the Netherlands on Sunday, according to the Financial Times, in order to make it more challenging for China to produce cutting-edge semiconductors for military applications. Despite the fact that the new regulations have no impact on NXP's operations in China, Sievers said the company has advised its US-based employees to stop communicating with clients who are engaged in the semiconductor manufacturing industry in China since the regulations went into effect last month. Sources: ft.com
Inflation Outlook: Energy Prices Drive Hospitality, Food Inflation Eases

The US dollars surrender to the Euro continues, GBP/USD touching 3-month highs, BoJ may continue its loose monetary policy

Rebecca Duthie Rebecca Duthie 15.11.2022 18:54
Summary: The USD continues its surrender to the Euro. The Pound has risen to a new three-month high versus the Dollar. The figures from today may indicate that the BoJ will keep its monetary policy loose. Euro performs well against the USD The market is reflecting mixed signals for this currency pair. The Euro to Dollar exchange rate (EUR/USD) hit a high of 1.0477 on Tuesday as a result of the continued dollar surrender that was brought on by the publication of weaker-than-anticipated U.S. inflation data last Thursday. The advances have already brought the pair close to the 1.05 level, which was predicted to be a potential objective in the near future by our week ahead projection. Investors' assumption that the Federal Reserve will slow down its interest rate hike cycle as U.S. inflation shows symptoms of peaking has sent the EUR/USD up 3.7% last week and another 1.10% this week. The sudden increase in the Euro's value relative to the Dollar is most likely due to a sizable liquidation of "long" dollar positions taken by investors hoping to profit from the Dollar's multi-month advance. EUR/USD Price Chart US dollars downfall in the wake of economic data The market is reflecting bullish signals for this currency pair. The Pound has risen to a new three-month high versus the Dollar as another inflation report fueled the U.S. currency's significant devaluation that was initially started by last week's U.S. inflation data. At 13:30 GMT, the Dollar's drop increased with the announcement of the U.S. The PPI inflation data was less than anticipated, confirming the CPI inflation from last week that the trend of rising prices has peaked. The strong market response to last week's U.S. inflation reading, which saw CPI come in below market expectations and indicated a turning point for both inflation and the Federal Reserve rate hike cycle might have been reached, is extended by the GBP/three-month USD's high. GBP/USD Price Chart USD/JPY currency pair The market is reflecting mixed signals for this currency pair. The Japanese Yen initially ignored the dismal GDP numbers because the USD/JPY was comfortably over 140.00. After 30 minutes, it surged past 140.50. The Japanese seasonally adjusted 3Q quarter-to-quarter GDP was down 0.3% from the previous quarter's 0.9%, falling short of predictions of 0.3%. In contrast to expectations of 1.2% and 3.5%, seasonally adjusted annualized quarter-to-quarter GDP as of the end of September was -1.2%. Prior to the release of today's data, the USD/JPY had been lagging in the wake of last Thursday's release of the US CPI, which the market had deemed to be rather benign. This sparked suspicion that the Federal Reserve would not need to raise rates as aggressively as previously believed. The graphic below illustrates the connection between Treasury yields, Japan-US bond spreads, and USD/JPY. With the Bank of Japan's yield curve control program, changes in Treasury yield mostly dictate the bond spread. The figures from today may indicate that the central bank will keep its monetary policy loose. USD/JPY Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Commodities Update: Strong Russian Oil Flows to China and Volatility in European Gas Market

Gold future prices remaining stable, NGAS higher amidst expectations of cooler weather, cotton futures recovering their 22-month lows

Rebecca Duthie Rebecca Duthie 15.11.2022 18:53
Summary: On Tuesday, gold prices remained stable. US NGAS futures increased on expectations of increasing heating demand as a result of colder than usual temperatures. Cotton prices remained almost 50% below their May peak. Gold trading at highest levels in 3 months On Tuesday, gold prices remained stable at approximately $1,770 per ounce as traders reevaluated the outlook for US interest rates in the wake of conflicting signals from the Federal Reserve. The Fed still has a lot of work to do in combating inflation, according to Fed officials, who conceded that the central bank may pause the pace of rate rises in the forthcoming sessions. After delivering four consecutive 75 basis point increases, investors are predicting that the Fed would scale back the magnitude of its rate hikes to 50 basis points starting in December. Gold, however, continued to trade at its highest levels in almost three months, largely as a result of recent dollar weakness and a decline in cryptocurrency prices. Although rising interest rates diminish its appeal because the metal does not pay interest, gold has long been seen as a safe-haven asset in times of economic uncertainty. Gold Dec ‘22 Futures Price Chart NGAS futures up on cooler temperature prospects In the third week of November, US natural gas futures increased on expectations of increasing heating demand as a result of colder than usual temperatures. There are indications that the Freeport LNG export plant restart won't happen until December, which would increase the amount of gas available for domestic usage. According to other recent EIA statistics, US utilities added 79 bcf of gas to storage last week, falling short of market forecasts for an increase of 84 bcf and falling short of a gain of 15 bcf during the same week last year. NGAS Dec ‘22 Futures Price Chart Cotton recovering from 22-month lows As dip buyers started to show up, a significant selloff that had driven cotton futures to a nearly 22-month low of 71.6 last month was tempered. Cotton futures are now moving towards the 80 USd/Lb level. Nevertheless, prices remained almost 50% below their May peak, restrained by a stronger currency and persistent worries about demand brought on by the difficult economic climate. According to the most recent estimate from the US Department of Agriculture, both acreage and yield grew, and worldwide cotton production is predicted to reach 118.1 million bales in 2022–2023—an increase of 2% over the previous year. India, Brazil, and China are mostly responsible for the increased output, which counterbalanced decreases from the United States and Pakistan. Cotton Mar ‘23 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
TEST

Nike, the market leader in fashion NFTs, to unveil DOT Swoosh, risk appetite in the market increased, AMZN to layoff 1% of its workforce

Rebecca Duthie Rebecca Duthie 15.11.2022 13:20
Summary: Dot Swoosh is a new Web3 platform and ecosystem that Nike is announcing today. Tuesday saw gains in Treasury yields across the board. Amazon (AMZN) is ready to fire around 10,000 employees as soon as this week. Nike announcing DOT Swoosh Nike bought the digital design company Rtfkt last year, and as a result, has emerged as a market leader in fashion NFTs. The sporting juggernaut is currently working on a stand-alone Web3 campaign intended to appeal to traditional brand followers rather than the early adopters who are well-versed in cryptocurrencies. Dot Swoosh is a new Web3 platform and ecosystem that Nike is announcing today. It is located at the domain Swoosh.nike. The initiative is a part of Nike Virtual Studios, which is run by former Snkrs app head and VP Ron Faris. According to Faris, Nike will house its virtual creations on Dot Swoosh, which debuts this Friday. Access is granted by an access code and registration is open as of right now.) In January, a debut digital collection will be released.According to Faris, who is in charge of Nike's blockchain, Web3, and metaverse strategies, the platform will allow users to buy, display, and exchange physical and digital goods as well as products they have created together. Nike has generated at least $185.3 million in income from Web3 products so far, which puts it ahead of rivals Adidas ($11 million) and Puma ($1.3 million), thanks to NFT sales from Rtfkt and with them the Web3-native company's pre-acquisition NFT collections. About half of Nike's total revenue came from Rtfkt's CloneX NFT avatar line, highlighting the significance of the acquisition for Nike's Web3 strategy thus far. A new platform from Nike Virtual Studios aims to onboard the #Web3 curious among Nike consumers, with a roadmap that borrows from @RTFKT’s playbook. https://t.co/RINZYZm0gI — Vogue Business (@voguebusiness) November 14, 2022 EU Stocks supported by increase in risk appetite Tuesday saw gains in Treasury yields across the board as investors re-entered booming equity markets following some profit-taking in the previous day. European equities and US futures also increased. After Xi Jinping and Joe Biden expressed a desire to strengthen US-China relations during their meeting on Monday before the G20 summit in Indonesia, and Beijing took action to relax some economic limitations, Asian markets saw significant gains. The market changes follow the US consumer prices index coming in below economists' expectations last week, which boosted US equities markets (the S&P 500 gained 5.5% on Thursday) and depressed the dollar. The Federal Reserve is under less pressure to raise interest rates by 0.75 percentage points for the fifth time in a row when it meets in December as a result of October's inflation figures. However, other analysts think that investors have become overly enthusiastic. In the lack of new economic information, Mike Zigmont, head of trading and research at Harvest Volatility Management, claimed that the argument over whether the most recent increase in stock prices marks the beginning of a true bull run or merely a bear market rebound is essentially pointless. European stocks rise as appetite for risk sparks rallies across markets https://t.co/3UVwb9E1va — Financial Times (@FT) November 15, 2022 AMAZON to layoff 1% of its global workforce According to unnamed persons familiar with the situation, The New York Times claimed on Monday that Amazon (AMZN) is ready to fire around 10,000 employees as soon as this week. The layoffs occur as the tech sector struggles to remain competitive in the face of a sluggish economy, rising interest rates, and persistent inflation. This month, thousands of employees were also let off by Twitter and Facebook's parent company Meta. The Times reports that the layoffs will have an effect on Amazon's Alexa business as well as the company's retail and human resources businesses. The Alexa group at Amazon, which creates the Echo hardware and related software, suffers annual losses of up to $5 billion, according to The Wall Street Journal, which cited internal papers it had examined. Amazon has joined the growing list of IT firms that have either frozen hiring or implemented layoffs. The 10,000 positions represent about 1% of Amazon's 1.5 million global employees. According to The Times, the precise number of anticipated layoffs may alter before they are officially revealed. On Nov. 3, Amazon declared a hiring moratorium. Amazon to lay off 10,000 workers as soon as this week: New York Times https://t.co/apeIJsSSV1 by @DanielHowley $AMZN — Yahoo Finance (@YahooFinance) November 15, 2022 Sources: finance.yahoo.com, voguebusiness.com, ft.com, twitter.com
Binance Academy: Coin Burn - What Is It?

FTX crash causing its auditors to come into question

Rebecca Duthie Rebecca Duthie 14.11.2022 17:45
Summary: FTX had its 2021 financial reports audited. A run on customer deposits began the downfall of FTX. The downfall of the FTX crypto Two US accounting companies that the cryptocurrency exchange claimed it had hired to examine its books have come under scrutiny as a result of FTX's demise. FTX asserted that Armanino, one of the 20 largest accounting companies in the nation by sales, and Prager Metis, which bills itself as the first accounting company to open a headquarters in the metaverse, had audited its 2021 financial reports. Even though the accounting regulations for digital assets are frequently ambiguous and businesses are still in their infancy, the two firms are among many in the US that have professed expertise in digital assets in a bid to seek business from the rising number of crypto enterprises. Sam Bankman-Fried, the founder of FTX, hailed the audit of the company's financial results as a turning point last year, but neither the accounts nor the auditors' names were made public until the day before FTX filed for bankruptcy on Friday. When Forbes magazine was putting together a ranking of cryptocurrency exchanges earlier this year, the publication claimed that FTX gave it "a trove of information on its operations, including most of the companies it did business with, when its last audits were, and details on its regulatory licenses." (FTX eventually came in sixth.) FTX accounting firm is in the spotlight Both accounting firms declined to comment on the extent of their work for FTX or the time since they last provided an audit opinion. A run on customer deposits at its international exchange that followed revelations about the exchange's complex connections to other parts of Bankman-crypto Fried's enterprise brought down FTX. According to those acquainted with the company's finances, his trading outfit Alameda Research owing FTX $10 billion this week. FTX token price chart Sources: finance.yahoo.com, ft.com
Agricultural Commodities Markets Are Going To Remain Sensitive To Developments In The Russia-Ukraine War

Silver prices are 12% up in November, brent crude down on concerns around the reopening of China, corn futures falling

Rebecca Duthie Rebecca Duthie 14.11.2022 17:20
Summary: Silver prices are nearly 12% higher in November. Investors remained on edge due to concerns over a possible reopening of China. Corn futures had their largest monthly decline on indications of ample supply. Silver futures up in November When compared to the five-month high of $21.7, silver futures were trading near $22 per ounce as speculators continued to predict how much the Federal Reserve will increase interest rates at its upcoming meetings. Despite the October inflation reading being lower than anticipated, Fed policymakers insisted that the central bank is continuing to fight inflation. Even so, silver prices are nearly 12% higher in November as wagers on the Federal Reserve's target rate were reduced by data confirming the trend of reducing inflation. In December, the Fed is expected to increase its target funds rate by 50 basis points (bps), slowing from the four consecutive 75-bps rate increases made since June. Although bullion is frequently employed as an inflation hedge, its attraction is diminished by increased interest rates as they increase the opportunity cost to store non-interest-bearing assets. Silver futures price chart Brent crude oil falling in the wake of relaxed COVID-19 measures in China Brent crude futures were trading at roughly $95 per barrel, a sharp decline from their daily highs of $97 per barrel as investors remained on edge due to a strong currency and concerns over a possible reopening of China. China's National Health Commission recently relaxed certain coronavirus-related restrictions on the top oil import in the world, but an increase in coronavirus cases over the weekend delayed plans for an immediate and thorough reopening. After OPEC+ agreed to limit output by 2 million barrels per day in November, the potential of even tighter supplies continued to support prices. At the same time, a ban on Russian oil by the European Union is scheduled to go into effect in December. Brent crude futures price chart Corn weighed down by strong supply prospects Chicago maize futures experienced their largest monthly decline on indications of ample supply. As poor Chinese demand encourages soybean farmers to grow alternative crops, USDA predictions point to increased corn seedlings and plantation areas for the upcoming marketing year. Expectations for the supply increased as well after Russia declared it will rejoin the UN-mediated agreement that ensures the security of grain exports from Ukrainian Black Sea ports. Moscow's decision to withdraw from the deal at the end of October over security considerations was overturned by the action, allaying concerns about a worldwide food crisis. The restoration of trade not only facilitates exports but also allows Ukraine to release significant storage space in silos as the harvest for the 2022–2023 marketing year is underway. Corn futures price chart Sources: tradingeconomics.com, finance.yahoo.com
EUR/USD Pair May Have A Potential For The Further Rally

Eurozone’s entry into a recession may be delayed, the GBP and NZD - high beta currencies

Rebecca Duthie Rebecca Duthie 14.11.2022 17:20
Summary: Analysts predict that the EUR/USD exchange rate will continue to improve. Eurozone entry into a recession may be delayed. Neither the British pound nor the New Zealand dollar seem to be winning out. Fed still determined to bring down inflation The market is reflecting mixed signals for this currency pair. Analysts predict that the EUR/USD exchange rate will continue to improve over the course of the upcoming week, however many still believe that the market is merely clearing out technical positions rather than the beginning of a long-term recovery. The Federal Reserve Governor Christopher Waller's remarks that the Fed was not yet prepared to cease its cycle of rate hikes helped the Dollar at the beginning of the new week. Investors' reactions to an unexpected drop in U.S. inflation caused the Dollar index, a gauge of the dollar's performance more broadly, to plummet by 4% last week. The statistics indicated that the U.S. inflation peak is near, and the Federal Reserve should therefore think about reducing the rate of raises. Most investors are now expecting a downshift to a 50 basis point boost in December. But Waller said investors risk getting carried away with a belief the end of rate hikes is close. EUR/USD Price Chart Eurozones entry into a recession expected to be delayed The market is reflecting bullish signals for this currency pair. Following a 0.9% month-over-month and 4.9% year-over-year increase in September industrial production for the Eurozone, the currency received a lift on Monday. The numbers are far better than the anticipated +0.1% m/m and 2.8% y/y, indicating that the European Union's entry into recession may be postponed. The current recovery could turn out to be mostly technical in character, which would increase the dollar's strength as investors pay attention to the Fed's warnings that the cycle of interest rate hikes is far from over. This would be a risk for those looking for a stronger Euro. The British pound is a "high beta" currency, which means that it tends to rise along with rising stock markets around the world, as was undoubtedly the case after the inflation figure. EUR/GBP Price Chart GBP/NZD currency pair A busy UK calendar could mean that this pair finally offers up some excitement this week. The Pound to New Zealand Dollar exchange rate (GBP/NZD) has been consolidating around 1.93 for nearly seven days now, and the near-term price activity is beginning to resemble the coiling of a spring. With two "high beta" currencies that are responsive to global conditions, the GBP/NZD pair has seen its price action in November mostly driven by world events. As a result, both currencies have benefited from the U.S. inflation surprise from last week. But when compared with one another, neither the British pound nor the New Zealand dollar seem to be winning out. GBP/NZD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

Fed may delay the rate of its interest rate hiking cycle, Musk’s Tesla lawsuit to hit court, U.S stock market rally

Rebecca Duthie Rebecca Duthie 14.11.2022 15:51
Summary: The Fed may think about delaying the rate of rate rises at its next meeting. Shareholders claim that Tesla has benefited its co-founder and CEO at their expense. U.S. stocks just experienced their greatest week since June. Fed is still committed to decreasing inflation Federal Reserve Governor Christopher Waller said on Sunday that the U.S. Federal Reserve may think about delaying the rate of rate rises at its next meeting, but it should not be seen as a "softening" in its commitment to decrease inflation. Waller responded to a series of questions on monetary policy at an economic conference hosted by UBS in Australia by stating that markets should now focus on the "endpoint" of rate increases rather than the speed at which each move is made. Waller also noted that the endpoint is likely still "a ways off." Inflation is a factor. Waller stated that even if the Fed stepped back from three quarter point hikes to a half point rise at its next meeting, "you're still moving up," adding that the 7.7% annualized increase in inflation recorded in October is still "enormous." This year, starting in March, the Fed increased interest rates a total of 3.75 percentage points, including four three-quarter point increases. This swift change in monetary policy was done to combat the greatest inflationary spike since the 1980s. Analysts and economists have cautioned that the tightening of monetary policy will increase the probability of a recession and have an effect on employment. Sherrod Brown, chair of the U.S. Senate Banking Committee, cautioned the Federal Reserve this month against tightening monetary policy to the point where millions of Americans who are already experiencing high inflation lose their jobs. *FED MAY CUT SIZE OF RATE HIKES, BUT IS NOT 'SOFTENING' INFLATION FIGHT, WALLER WARNS - https://t.co/DtihB5nu6C pic.twitter.com/SMZnAaH5Bt — Investing.com (@Investingcom) November 14, 2022 Musk is scheduled to testify this week In a lawsuit filed by shareholders who claim the electric vehicle manufacturer has benefited its co-founder and CEO at their expense, Elon Musk will attempt to demonstrate his merit for a multibillion dollar pay deal from Tesla. The richest man in the world is scheduled to testify this week in a trial that starts on Monday. He, Tesla, and members of its board are accused of violating their obligations by giving Musk share options with a maximum value of about $56 billion. Only a few weeks have passed since the 51-year-old took over Twitter, adding it to an ever-growing list of companies that he is at least nominally in charge of, including Tesla, SpaceX, Neuralink, and The Boring Company. Tesla shareholders concerned around Musks availability Musk's expanding portfolio, according to the attorneys representing the Tesla investors who filed the complaint, means he is too busy to serve as the automaker's chief executive on a full-time basis, let alone one deserving of a salary that "dwarfs the pay package of any other public company CEO." The case was started before Musk's $44 billion purchase of Twitter. However, the case will be keenly followed by firms all over the US, who are concerned that a victory for Tesla shareholders may spark a wave of similar lawsuits in Delaware, where the majority of the nation's public corporations are incorporated. Legal fight over Elon Musk’s $56bn Tesla pay deal heads to court https://t.co/ruh3wuXRhS — Financial Times (@FT) November 14, 2022 US stock market rally U.S. stocks just experienced their greatest week since June, and whether Wall Street can continue its winning streak in the coming days will likely depend on news from the retail industry. Investor optimism that a monetary policy shift is imminent was revived by statistics on lower inflation, but important earnings from retailers and the government's October report on the industry may put that optimism to the test. The major averages had significant gains as a result of bets that Federal Reserve officials would dial back on interest rate increases after the Consumer Price Index (CPI) for October indicated slowing inflation last month. The Dow Jones Industrial Average increased 4.2%, while the S&P 500 gained 5.9% for the week, its highest five-day performance since the week ending June 24. With a gain of 8.1%, the Nasdaq Composite experienced its best week since March. Stock market rally meets retail sales and retail earnings: What to know this week https://t.co/FbBltmPj4j by @alexandraandnyc — Yahoo Finance (@YahooFinance) November 14, 2022 Sources: finance.yahoo.com, ft.com, investing.com, twitter.com
Australia Is Expected To Produce A Bumper Year Of Crops

Platinum futures touching 4-month highs, US Gasoline Prices High, Wheat shortage concerns driving futures prices

Rebecca Duthie Rebecca Duthie 10.11.2022 18:57
Summary: Platinum futures increased to their highest level in 4 months. Projections for global wheat supply and ending stocks for the 2022 marketing year have climbed. The West Coast's limited gasoline supply would keep gas prices high. Platinum futures supported by a weaker US dollar Platinum futures increased to their highest level in four months at $965 per ounce as the dollar declined more than 4% since reaching 20-year highs at the end of September, enhancing the attraction of commodities with dollar prices. Although demand has decreased due to slower economic growth, higher interest rates, and a persistent semiconductor shortage that has hurt auto production, the price of platinum is still down more than 15% from its March peak. The platinum market should be in surplus both this year and the following year, according to analysts who predicted supply-demand balances. However, the rise of China's energy sector and the country's robust industrial demand continue to drive up prices for the commodity. Platinum Futures Price Chart Wheat futures Chicago wheat futures reached a two-month low in November before rising to levels seen before Russia's invasion of Ukraine as hopes of a plentiful supply allayed concerns about a shortage. Projections for global supply and ending stocks for the 2022 marketing year have climbed, contrary to forecasts of a fall, according to data from the USDA's WASDE report, as stronger output in Australia and Kazakhstan offset expected declines in Argentina and the EU. Russia's commitment to resume the UN-mediated arrangement, which ensures a safe passage for ships delivering Ukrainian grain after demands have been met by Ukrainian officials, was another factor supporting supplies. The action was taken after Moscow abruptly chose to halt the deal at the end of October, citing Kyiv's denials of any security concerns. Investors are currently anticipating the UN-Russia delegation meeting to talk about extending the pact, as the present agreement expires on November 19. Wheat Futures Price Chart US gasoline has been rising Following a fire on Tuesday night at Chevron Corp.'s El Segundo, California, refinery, California gasoline increased to $1.07 per gallon over NYMEX December gasoline in the Los Angeles wholesale market, according to West Coast market traders. Due to a refinery in northern California losing power and planned maintenance at another plant in southern California, gasoline in the Los Angeles market has been trending upward for the previous two weeks and last traded at 96.5 cents on Tuesday. The West Coast's limited gasoline supply would keep prices high, according to traders. RBOB Gasoline Price Chart Sources: finance.yahoo.com, tradingeconomics.com
German Business Confidence Dips, ECB's Lagarde Hosts Central Banking Conference in Portugal, EUR/USD Drifts Higher

US dollar index touching new monthly lows, pound sterling is reacting well to increase in market sentiment

Rebecca Duthie Rebecca Duthie 10.11.2022 18:54
Summary: Prices in DXY are currently driving down to new monthly lows. The British pound is responding to an overall increase in risk sentiment. The New Zealand Dollar is proving to be an apparent bet for a Chinese economic resurgence. USD feeling the effect of the CPI inflation data release The market is reflecting mixed signals for this currency pair. Prices in DXY are currently driving down to new monthly lows after posing a support rebound yesterday. Along the way, they are passing a significant area of confluent support. Sellers have struck. The daily candle for today will be crucial because it is presently forming a bearish engulfing pattern. And if that holds true, with price closing below those supports, then bearish continuation possibilities will still be possible. The daily bar close today will be crucial because, at this point, we're still feeling the effects of the CPI print, and how market players react today will reveal how they'll assimilate this new information. As market investors altered their expectations for higher policy rates, as shown by increased sovereign debt yields in the euro area, euro assets remained volatile across the review period. Since then, rates have somewhat decreased as the economic implications of aggressive tightening start to accumulate and systemic risk originating in the UK has largely been isolated as a result of the Bank of England's retaliatory actions and UK government policy reversals. EUR/USD Price Chart GBP supported by positive investor sentiment The market is reflecting bearish signals for this currency pair. The British pound is responding to an overall increase in risk sentiment, so Thursday's moves will likely be influenced by how the global equity markets perform, which are now suffering losses after a series of occurrences midweek. After suffering significant losses the day before, market morale has since improved, and the value of the pound is rising at the start of the day. In sync with the upbeat investor sentiment evident in global equities markets on Monday, the pound rose. However, these gains were erased on Wednesday amid a wider market selloff focused on China and disruptions in the cryptocurrency area. EUR/GBP Price Chart Chinese economic resurgence allows NZD to be an apparent bet Markets are adjusting to the possibility that China won't abandon its zero-Covid policy until the spring, which will result in a change in fortunes for the New Zealand Dollar and other like "commodity currencies." Analysts caution that the recent enthusiasm seen over the previous ten days is unwarranted and that the Chinese economy's reopening is likely to be a gradual and rocky process. Nevertheless, the New Zealand Dollar is proving to be an apparent bet for a Chinese economic resurgence. GBP/NZD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
The US Dollar Index Is Producing A Reasonable Bullish Divergence

US core and headline inflation data missed market expectations in both the YoY and MoM figures

Rebecca Duthie Rebecca Duthie 10.11.2022 14:42
Summary: The CPI inflation data missed market expectations for October. Initial market reaction in the wake of the release of the data. US CPI data missed market expectations Since the Dollar is struggling to maintain rallies, a significant positive surprise from Thursday's inflation data is necessary for the bulls to retake the lead. Markets anticipated an increase of 0.6% month-over-month for October, bringing the year-over-year gain to 8.0%, slightly less than September's 8.2%, when the U.S. inflation data was revealed at 13:30 GMT. It is anticipated that the crucial core inflation number would come in at 0.5% month over month and 6.5% year over year.   Because the actual number did not match the estimates for both the headline and core inflation rates which are the Fed's preferred measure—however, excludes food and energy—were expected to be lower but still high. Anything above 8% and 6.5%, however, might reverse the recent USD slump and keep the Fed on the hawkish side of things. Since the FOMC meeting last week, the peak rates for the Fed in 2023 have decreased, moving from 5.1% to a level closer to 5%. US CPI inflation MoM came in at 0.3%, missing market expectations and the YoY figure came in at 6.3%, also missing market expectations. This could mean that the halt in the US dollar rally may extend further. The markets reaction to the release of the CPI data The mechanics for the Dollar are straightforward: a beat would have been consistent with a rise as investors are compelled to plan for future interest rate increases from the U.S. Federal Reserve. A negative surprise was expected given the weaker dollar and the idea that "peak rates" have finally been reached. The size of the variance is crucial since it determines how responsive currency markets are. The initial market reaction saw the EUR/USD currency pair strengthened as well as with the GBP/USD pair, S&P 500 dropped and the USD/JPY weakened in the wake of the release of this data. Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Franc Records 11th Consecutive Daily Decline Against the Dollar as US Economic Concerns Mount

US CPI inflation anticipation weighing on US stocks, Twitter verification subscription rollout, EU commission published reform suggestions

Rebecca Duthie Rebecca Duthie 10.11.2022 13:30
Summary: Ahead of U.S. inflation data stock markets inched lower on Thursday. The new Twitter Blue has come after a false start over the weekend. The European Commission published its suggestions for reforms on Wednesday. US Dollar held onto overnight gains on Thursday Ahead of U.S. inflation data that could affect the Federal Reserve's rate plans, stock markets inched lower on Thursday but the dollar held onto overnight gains. Investors were alarmed by the potential collapse of a major cryptocurrency exchange. The Fed has quickly raised rates this year in response to sky-high inflation, which has strengthened the dollar and led to U.S. Treasuries and stocks will drop significantly globally. However, earlier this week, optimism that the Fed might be reaching the end of this process helped the STOXX benchmark to a two-month high. release of Americans As investors attempt to position themselves based on when and at what level they believe U.S. interest rates will peak, the CPI data, which is due at 1330 GMT, is the primary event of the day for markets. "Everyone is focused on that and how that will affect the pricing for not only the December Fed meeting but also the peak policy rate pricing." The Fed has quickly raised rates this year in response to sky-high inflation, which has strengthened the dollar and led to U.S. Treasuries and stocks will drop significantly globally. However, earlier this week, optimism that the Fed might be reaching the end of this process helped the STOXX benchmark to a two-month high. release of Americans As investors attempt to position themselves based on when and at what level they believe U.S. interest rates will peak, the CPI data, which is due at 1330 GMT, is the primary event of the day for markets. *GLOBAL STOCKS MOSTLY LOWER AHEAD OF KEY U.S. CPI INFLATION, CRYPTO WORRIES MOUNT - https://t.co/I1tx9LN6S0 pic.twitter.com/XQHvamDLNX — Investing.com (@Investingcom) November 10, 2022 Twitter verification subscriptions The new Twitter Blue has come after a false start over the weekend. The program, which costs $8 per month in the US, gives users access to fast account verification and a blue checkmark that appears next to their tweets and on their profile page. The subscription was not made accessible for Android as of the time this article was being written. It's also unknown when Twitter Blue will launch in regions other than those where it presently operates as of right now. Notably, the membership prompt identifies the $8 monthly pricing as a "limited-time offer" and lists the ability to see half as many advertising and post longer videos as additional bonuses that haven't yet been made accessible but were promised by Twitter owner and CEO Elon Musk. Since completing his takeover of the business over two weeks ago, Musk has promoted paid account verification as a strategy for making Twitter financially sustainable and boosting platform trust. However, many were quick to point out the service was likely to have the opposite effect since practically anyone could pay for verification and then theoretically change their account name to mimic another user when it briefly started rolling out the new Twitter Blue on Saturday. Musk warned users who were impersonating others would need to expressly identify they were running a parody account or face a permanent ban after a few verified "blue-check" users modified their accounts to impersonate Musk. Twitter’s $8 a month Blue subscription with verification has started rolling out https://t.co/R5lJ3r73nx via @engadget — Yahoo Finance (@YahooFinance) November 10, 2022 EU reform suggestions Finally, it is moving once more. The European Commission published its suggestions for reforms on Wednesday, marking a major milestone in the quest to modify the EU's ill-fitting budget rules. The main goal is to accept the unavoidable: that laws must be more straightforward, flexible, and connected to more reliable rewards and penalties that advance rather than obstruct common policy goals like more investment. All of this reflects the mental evolution now taking place in national capitals. Briefly stated, Brussels wants to maintain the Treaty-based references to deficit and debt limits of 3 and 60% of GDP, respectively, but negotiates individual multiyear budget plans that can last up to seven years when combined with agreed investments and reforms. These plans can be as long as four years. The EU begins to grasp its fiscal nettle https://t.co/Mb88QFhyVv | opinion — Financial Times (@FT) November 10, 2022 Sources: twitter.com, ft.com, finance.yahoo.com, investing.com
Securing Battery Metal Supply Chains: Challenges and Opportunities Amid the Global Energy Transition

WTI crude oil down 2%, palladium touching 5 month lows, coffee touching 15 month lows

Rebecca Duthie Rebecca Duthie 09.11.2022 17:00
Summary: WTI crude continued their third session of losses. Despite the price increase and supply chain disruptions, demand for palladium has not yet returned to its pre-pandemic levels. The price of Arabica coffee futures dropped to its lowest level in 15 months as supply prospects improved. WTI Crude Oil down amidst concerns of a worldwide recession On Wednesday, WTI oil futures lost approximately 2% of their value and traded near the $87 per barrel level, continuing their third session of losses due to ongoing concerns over a worldwide recession-driven decline in demand. Renewed COVID- Hopes for a gradual economic reopening and a comeback in energy consumption were dashed by 19 outbreaks in China, the world's largest oil importer, which raised fears of potential new lockdowns. Fears that an aggressive tightening campaign by major central banks in developed economies could pull the world into a recession and reduce oil consumption were exacerbated by uncertainty about China's outlook. Additionally, according to API statistics, US oil stockpiles increased by nearly 5.6 million barrels last week, above forecasts for an increase of 1.1 million barrels. Even still, supplies around the world are still exceedingly scarce since OPEC+ cut production in November by 2 million barrels per day, and because the European Union is set to impose a ban on Russian oil in December. WTI Crude Futures Price Chart Palladium touches 5-month lows Palladium futures continued to decline, reaching a low of $1,820 per ounce, the lowest level in nearly five months, as the dollar index dipped back toward 20-year highs due to the possibility of further increases in interest rates, which damaged commodities. Prices for palladium are more than 40% lower than they were in March, since palladium is being replaced by platinum and interest rates are rising. In order to combat inflation even during a slowdown, the Federal Reserve, the most powerful central bank in the world, is projected to keep raising interest rates. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. The palladium market is projected to be balanced or in deficit this year and next year, according to analysts who predict supply-demand balances. Palladium Futures Price Chart Coffee touching 15 month lows The price of Arabica coffee futures dropped to its lowest level in 15 months as supply prospects improved and demand projections were expected to decline. World Weather reported that Brazil's 2023–24 coffee crop had grown in a "very excellent climate" due to frequent rain and plenty of sunshine, sparking hopes for a potential record production in the top producer Brazil the following year. Additionally, Colombia, Mexico, and Central America are predicted to produce better crops. Demand is expected to decrease at the same time that global growth slows. Even yet, according to the most recent statistics, ICE-certified arabica stocks hit a new low of 384,795 bags, which is a 23-year low, although traders predicted that stocks would soon rebound. Coffee Mar ‘23 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
UK recession could deteriorate with tighter monetary and fiscal policy, the US dollar suffered another setback

UK recession could deteriorate with tighter monetary and fiscal policy, the US dollar suffered another setback

Rebecca Duthie Rebecca Duthie 09.11.2022 17:00
Summary: Experts foresee more short-term weakness for the Canadian Dollar against the Pound The bullish trend in the USD suffered yet another setback on Tuesday. The UK recession will deteriorate with tighter monetary and fiscal policy. Euro recovery may be strong The market is reflecting bullish signals for this currency pair. After a support bounce failed, the bullish trend in the USD suffered yet another setback yesterday. The currency was driven lower by sellers to make a new monthly bottom, but support quickly appeared around the same level that had been in play a few weeks before and served as a target for a double top formation at 109.62. There are a number of levels close below that swing as well, which may allow for a support bounce before the release of the CPI data tomorrow. From some perspectives, the major question is whether a stronger recovery can be seen in the Euro. Over the past nine months, the euro has been battered and bruised, but as of my initial inspection in October, the pain was beginning to subside and a deeper downturn was beginning. EUR/USD Price Chart GBP down against its peers The market is reflecting bullish signals for this currency pair. The UK recession will deteriorate with tighter monetary and fiscal policy, according to Derek Halpenny, Head of Research Global Markets for EMEA at MUFG. The recent Bank of England policy update has strengthened the foreign exchange strategists' belief in this trade, according to a new note. They are selling pound sterling against the euro. On Thursday, November 3, the Bank of England raised interest rates by 75 basis points, but warned that if it followed market expectations and pushed through even more increases, the UK economy would enter a recession that would last eight quarters. As a result, the Pound dropped against all of its peers. The market interpreted this as a message from the Bank that it would not hike rates as much as anticipated going into the policy update, which caused expectations to be reassessed and caused the Pound to fall on the day. EUR/GBP Price Chart CAD weakness foreseen National Bank of Canada (NBC) experts foresee more short-term weakness for the Canadian Dollar against the Pound, Dollar, and Euro but a robust recovery through 2023. Up until the second half of the year, when oil prices began to decline from their post-invasion levels and the Bank of Canada slowed down its rate-hiking acceleration, the Canadian Dollar was one of the best-performing currencies in 2022. GBP/CAD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
"Global Steel Output Rises as Chinese Production Surges, Copper Market Remains in Deficit

Meta lays off around 13% of its employees, a major shift in the markets in the wake of US midterm elections is not expected

Rebecca Duthie Rebecca Duthie 09.11.2022 16:22
Summary: In the most drastic layoff in company history, Meta has fired almost 11,000 workers. No major market shifts are expected in the wake of US midterm elections. Germany should think about raising taxes on the wealthiest citizens. Meta implemented its most drastic layoff in its history In the most drastic layoff in company history, Meta has fired almost 11,000 workers, cutting its employment by around 13% as it fights declining revenue and escalating competition. Employees were notified of the layoffs through email on Wednesday morning by CEO Mark Zuckerberg. “I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted,” he added. Current economic climate weighing on tech companies In a climate of economic slump and greater competition, Zuckerberg claimed that revenue growth experienced during the epidemic had not been sustained, advertising performance was down, and e-commerce had decreased. There is no cap on the 16 weeks of basic salary and two additional weeks of compensation that US employees will receive as part of their severance package. The email also stated that overseas employees' packages would be comparable and would be announced soon. Except for email, affected employees' access to Meta systems will be terminated on Wednesday "so everyone can say farewell," according to Zuckerberg. On Wednesday, Meta stock increased 3% in pre-market trading. Reducing budgets and personnel benefits are two further cost-saving strategies, it was said. The company's "real estate footprint" will "shrink," presumably resulting in the closure of a few offices. The majority of the remote-working staff will be asked to desk share. In the upcoming months, more improvements, according to Zuckerberg, will be disclosed. *META IS LAYING OFF 11,000 EMPLOYEES, ABOUT 13% OF THEIR WORKFORCE$META pic.twitter.com/Ego722RjCR — Investing.com (@Investingcom) November 9, 2022 US midterm elections are not expected to shift the markets majorly Wall Street experts predict that the markets won't experience a significant shift after the much anticipated completion of the midterm elections. A bullish tilt in the market is justified, according to historical evidence, in the month before the midterm elections. According to data from US Bank, the S&P 500 has historically outpaced the market in the twelve months following a midterm election, returning an average of 16.3%. Particularly for the one and three months following midterm elections, this outperformance is present. However, investing experts may be right to be ready for a post-election hangover in the stock market given that the economy is still coping with high levels of inflation and an unfriendly Federal Reserve rising interest rates. "You've got to think about some of these big challenges that we have," Roland explained. "The economy is clearly decelerating right now. We're contending with inflation. I think the inflation data that we get on Thursday is probably much more important than the political backdrop right now. So we want to be careful about sort of overplaying politics and making cross-asset decisions right now." Why the stock market may see minimal impact from the midterm elections https://t.co/hK6PJvE86V by @BrianSozzi $DJI $GSPC $IXIC — Yahoo Finance (@YahooFinance) November 9, 2022 Germany suggested to raise taxes on wealthy citizens As part of its €200 billion plan to restrict gas and electricity prices, Germany should think about raising taxes on the wealthiest citizens, a committee of top economic advisers to the government said on Wednesday. One of the five members of Germany's council of economic experts, Ulrike Malmendier, stated that the nation should "look at the more uncomfortable side" of how to finance its energy assistance program because it cannot simply benefit the most vulnerable. She stated that the council had proposed three solutions to this problem, including hiking the top tax rate, enacting a "solidarity fee" on high earnings, or delaying the government's plan to lower tax rates to protect households from skyrocketing inflation. The council's suggestions on tax policy are likely to spark a heated discussion inside the ruling coalition, which has eight weeks to issue a formal response. Germany should raise taxes on rich to fund €200bn energy plan, advisers say https://t.co/aMx9wS0EEP — Financial Times (@FT) November 9, 2022 Sources: finance.yahoo.com, ft.com, twitter.com
Apple Stock Price, Microsoft, Amazon And Tesla (TSLA) Added A Lot Since July! How Deep Could EUR/USD Drop?

Telsa (TSLA) stock price has tanked 12% since Musk took control of Twitter (TWTR) on October 27

Rebecca Duthie Rebecca Duthie 08.11.2022 18:59
Summary: Twitter does not make money like Tesla. The serial entrepreneur made an effort to reassure Tesla's supporters and investors . Investor confidence in Musk is lacking The maker of high-end electric vehicles appears to be going through a similar experience to that of an orphaned kid or a beloved who has fallen from grace. Elon Musk, the company's dynamic and forward-thinking co-founder and CEO, appears to have lost interest in it. Put the blame on Twitter (TWTR), which needs a lot of attention due to its enormous influence on public and political life. While Twitter does not make money like Tesla, it is nonetheless seen as our generation's equivalent of the town square, where trend-setters and opinion leaders congregate. Twitter sets the daily political agenda and the conversational subjects that eventually predominate in mainstream media coverage. Responsibility also comes with this authority. You are responsible for the content management policy, which requires constant vigilance. Any error in the content that is put on the platform has the potential to spark controversy, which can be difficult and time-consuming to resolve. Musk paid too much for Twitter—$44 billion. As part of the leveraged buyout, the billionaire owes around $13 billion in debt, which is secured by his remaining Tesla stock. He has been looking for ways to make money for the social network since he took control on October 27. But as Musk becomes more active on Twitter, Tesla's stock price declines. At the Baron Investment Conference on November 4, the billionaire claimed that since he bought Twitter, his workload had increased from "78 hours a week to perhaps 120." The serial entrepreneur made an effort to reassure Tesla's supporters and investors by claiming that he was still actively involved in the company's management. The message didn't reassure anyone. Since that time, Wall Street has seen a continuous decline in the price of Tesla stock. Tesla shares dropped to $196.66 at the close of trade on November 7—their lowest price in 52 weeks. Since Musk sealed the Twitter agreement on October 27, Tesla stock has fallen 12.4%. Tesla shares have lost a total of 41.2% of their value, or $197.08, since Musk revealed his offer on April 25. This results in a market value decline of about $436 billion. The holding company of renowned investor Warren Buffett, Berkshire Hathaway (BRK.A), surpassed Tesla on November 7 to become the sixth-largest corporation in the world by market capitalization. TSLA Price Chart Sources: finance.yahoo.com, thestreet.com
Commodities Update: Strong Russian Oil Flows to China and Volatility in European Gas Market

Gold reaches 1-month highs on Tuesday, US NGAS futures list 10% on Tuesday, cotton futures

Rebecca Duthie Rebecca Duthie 08.11.2022 18:18
Summary: The US dollar fell and worrying US economic confidence statistics. NGAS down from 3-week highs. A significant selloff that had driven cotton futures to a nearly 22-month low. Gold prices supported by concerning US economic statistics Gold prices rose to above $1,700 on Tuesday, the highest level in more than a month, as the US dollar fell and worrying US economic confidence statistics made the argument for the Federal Reserve to drop its target interest rate. Investors eagerly anticipate this week's release of the October CPI report in the hopes that it will support the recent decline in inflation and lessen pressure on the Federal Reserve to keep depressing demand. Higher interest rates increase the opportunity cost of storing non-yielding bullion, which reduces the appeal of gold, despite the fact that it is commonly seen as a hedge against inflation and economic uncertainty. Investors in other markets kept an eye out for China's policy cues to see if it was considering easing up on its zero-Covid policy. Gold Dec ‘22 Futures Price Chart NGAS down from 3-week high US natural gas futures had a 10% decline on Tuesday, falling from a 3-week high of nearly $7 set the previous day to $6.4/MMBtu. The demand projection for the upcoming week was also revised downward due to warmer weather. The average US gas demand, including exports, is anticipated to increase to 121.2 bcfd from 98.4 bcfd this week, falling short of earlier projections. Increasing LNG exports and declining output have recently bolstered prices. After Berkshire Hathaway Energy's Cove Point LNG plant resumed operations on October 28th, the Texas-based Freeport LNG export facility, which has been idle since June, is expected to start up again by the middle of the month. So far in November, the Lower 48 US states' average gas production has decreased to 98.4 bcfd. NGAS Dec ‘22 Futures Price Chart Cotton prices 50% down from May peak As dip buyers started to show up, a significant selloff that had driven cotton futures to a nearly 22-month low of 71.6 last month was tempered. Cotton futures are now moving towards the 80 USd/Lb level. Nevertheless, prices remained almost 50% below their May peak, restrained by a stronger currency and persistent worries about demand brought on by the difficult economic climate. According to the most recent estimate from the US Department of Agriculture, both acreage and yield grew, and worldwide cotton production is predicted to reach 118.1 million bales in 2022–2023—an increase of 2% over the previous year. India, Brazil, and China are mostly responsible for the increased output, which counterbalanced decreases from the United States and Pakistan. Cotton Marc ‘23 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com  
GBP: BoE Stands Firm on Bank Rate and Mortgage Interest Relief, EUR/GBP Drifts Lower

US Dollar rally seems to be coming to an end, GBP rebounded on Monday

Rebecca Duthie Rebecca Duthie 08.11.2022 18:18
Summary: Many ECB policymakers have reiterated the central bank's stance on interest rates and inflation. The British Pound is weaker on Tuesday after making a good rebound on Monday. ECB remaining hawkish The market is reflecting bullish signals for this currency pair. Many ECB policymakers have reiterated the central bank's stance on interest rates and inflation, contending that higher rates must be maintained for a longer period of time in order to contain double-digit price pressures. The financial wires are awash in hawkish ECB language in what appears to be a coordinated effort to reassert the central bank's authority and will on the rates market. At the end of October, the ECB raised interest rates by 75 basis points to 1.50%, its third straight increase and the highest level since 2009. At its meeting on December 15, the central bank is anticipated to increase rates by an additional 50 basis points. The US dollar is under pressure as speculators start to look past rising US rate predictions and instead focus on when the Fed may pause its tightening cycle, while the Euro has benefited from expectations of higher rates. The fact that the markets are already anticipating a turnaround, even though this may be months away, is putting pressure on the dollar. EUR/USD Price Chart GBP supported by general market uptrend The market is expecting bullish signals for this currency pair. The British Pound is weaker on Tuesday after making a good rebound on Monday, and price movement suggests that the UK currency is following global trends during a week with few domestic events. Analysts note that the UK's domestic situation is still difficult and that any gains are likely to be fleeting. Despite this, the Pound had the best performance among the major currencies on Monday as global markets continued their recent uptrend, helping the UK currency to somewhat recoup its losses following last Thursday's Bank of England report. The Pound's recovery may continue over the next several days if the mood music is generally cheerful. GBP/USD Price Chart US dollar is believed to be nearing the end of its uptrend The market is expecting bullish signals for this currency pair. Capital Economics experts believe that the Dollar may be nearing the end of a multi-month uptrend, but they caution that it is still too early to start preparing for a rollover and trend change. The Federal Reserve is reaching the conclusion of its tightening cycle, according to analysis by the independent financial and economics research source, and as a result, there is little room for a further widening of predicted interest rate differentials in favor of the Dollar. The war in Ukraine, anticipation of Fed interest rate increases, and a post-pandemic decline in equity markets have all worked together to strengthen the Dollar. GBP/USD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Apple May Surprise Investors. Analysts Advise Caution

US stocks supported by the upcoming midterm elections, EU gas price cap agreement is under threat, APPL stock price

Rebecca Duthie Rebecca Duthie 08.11.2022 13:10
Summary: A divided Congress may be viewed as "broadly neutral to moderately positive" for equities. The EU announced a pact to lower energy prices, which is now starting to fall apart two weeks later. China's zero-COVID policy may harm Apple in the short run. Some analysts described the markets as “risk-on” On Tuesday, European equities struggled to advance, and the dollar strengthened as traders gave up on expectations that China will relax its zero-COVID policy and exercise prudence in advance of the U.S. midterm elections. Some analysts have ascribed the markets' "risk-on" tone at the beginning of the week to China's potential relaxation of its stringent COVID-19 lockdown regulations. Some investors' expectations that the U.S. Federal Reserve may adopt a more dovish tone that has also helped the markets. Investor attention was centered on the upcoming midterm elections in the United States, where the fate of the House of Representatives is on the line. Nonpartisan analysts predict the Republicans will gain a majority in the house, giving them the power to veto President Joe Biden's legislative program. Finding out the outcome of a vote could take days. Analysts typically consider a divided government to be a more market-friendly scenario. Options market analysts predicted that a Democratic upset victory may result in a downturn in the market. According to Tom Caddick of Nedgroup Investments, a divided Congress may be viewed as "broadly neutral to moderately positive" for equities because it would show that major legislative changes are unlikely to occur in the future. *U.S. STOCK FUTURES TICK HIGHER WITH ALL EYES ON MIDTERM ELECTIONS - https://t.co/36oDXQP2wg 🇺🇸 🇺🇸 pic.twitter.com/b0mBV9j6bs — Investing.com (@Investingcom) November 8, 2022 EU gas price cap agreement under threat Today's meeting of the EU financial ministers comes after Paolo Gentiloni, the commissioner for economics, confirmed for the first time that the union will experience a recession this winter and called for steps to make it as brief as possible. On Friday, the European Commission releases its forecasts. After a late-night session, the EU announced a pact to lower energy prices, which is now starting to fall apart two weeks later. Countries that want a cap on gas import prices are holding out against other proposals, such cooperative procurement of supply, until the European Commission provides more information regarding the cap. They are concerned that the commission's free market bureaucrats will reject the notion and fail to produce a workable price cap solution. Germany, on the other hand, is likely to veto any proposals made by Brussels because it thinks that traders would move their gas business abroad if the EU set a maximum price. The creation of a price cap, according to member states opposed to it, should be subject to eight severe requirements listed in the initial commission plan, including that it not jeopardize supply security, not increase consumption, and not have an impact on intra-EU gas flows. EU gas price cap ‘agreement’ starts unravelling https://t.co/SHwzoNLOym — Financial Times (@FT) November 8, 2022 Apple stock price under pressure from COVID-19 lockdowns in China At what is perhaps the worst possible time, COVID lockdowns at Apple's (AAPL) primary iPhone 14 Pro and iPhone 14 Pro Max factory in Zhengzhou, China, are affecting the corporation. Holiday shopping for new iPhones, Apple Watches, and iPads for friends, family, and self makes this the busiest time of year for Apple. Apple may not have enough iPhones on hand to meet demand this year as a result of the lockdowns at the Zhengzhou facility, which could have a big negative effect on the business's bottom line. Although China's zero-COVID policy may harm Apple in the short run, analysts do not believe that it poses a long-term danger to the company. Customers still desire iPhones, after all, regardless of when they can get them. However, as the firm expands its product lines and may even enter the AR/VR market with its own headset in the long run, Apple's production issues will probably be nothing more than a passing blip. Apple stock: China's Covid lockdowns an 'absolute gut punch': Analyst https://t.co/wT1h3tvPvW by @DanielHowley pic.twitter.com/pOE1FAWqaM — Yahoo Finance (@YahooFinance) November 8, 2022 Sources: ft.com, finance.yahoo.com, investing.com, twitter.com
A Significant Change In The Prospects For The Crude Oil Market

Silver falls from its one-month high, Brent Crude facing both weak demand and weak supply outlooks, Corn futures

Rebecca Duthie Rebecca Duthie 07.11.2022 17:56
Summary: After rising 7% to a one-month high on Friday, silver dropped down again. Investors weighed limited supply against a dim demand picture. Chicago corn futures declined at the beginning of November. Silver jewelry demand under pressure After rising 7% to a one-month high on Friday, silver dropped down around $20.5 per ounce on Monday. China denied it was considering modifying its zero-Covid policy, which is putting pressure on the demand for silver jewelry. Since more than two years ago, COVID-related limitations have put pressure on sales of silver jewelry in China, a major customer, while a slump in the world economy is lowering demand for electronics and cars. Since its March peak, silver has fallen more than 20% as a result of rising interest rates everywhere. The US Federal Reserve, the most powerful central bank in the world, increased rates for the fourth consecutive time by 75 basis points, and borrowing will continue to rise to a higher peak than expected. Looking ahead, it seems likely that China's economy won't be able to make up for the tightening of global financial conditions even if it is reopened. If the Federal Reserve acts more aggressively than expected, silver's decline will be more apparent. Silver Dec ‘22 Futures Price Chart Brent Crude Oil futures On Monday, the price of Brent oil futures was hovering around $99 per barrel, reaching levels last seen in late August as investors weighed limited supply against a dim demand picture. In addition, a declining dollar and increased risk appetite also encouraged bulls. With anticipation growing that the oil cartel could further interfere in markets to support prices, OPEC+ just agreed to cut output by 2 million barrels per day in November, the highest since the epidemic. But worries about a probable demand slump brought on by the recession persisted. Over the weekend, Chinese authorities reaffirmed their dedication to the zero-Covid strategy, dimming hopes for a policy change that may boost demand in the world's largest crude importer. Brent Crude Futures ORice Chart Corn futures Chicago corn futures declined at the beginning of November, following the trend for other grains, after Russia declared it would rejoin the UN-mediated agreement that ensures the security of grain exports leaving Ukrainian Black Sea ports. Moscow's decision to withdraw from the deal at the end of October over security considerations was overturned by the action, allaying concerns about a worldwide food crisis. Along with impeding sales, the suspension of port operations would have prevented Ukraine from clearing out significant amounts of silo storage when the harvest for the 2022–2023 marketing year got under way. The USDA reported that 264 thousand tonnes of corn were shipped for the week ending October 20th, far less than the 350 thousand to 1.075 million tonnes of estimates. Corn Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
Construction Activity in Poland Contracts in May: Focus on Building Decline and Infrastructure Investment

The US dollar index decreased on Monday, BoE November interest rate decision caused significant losses for the GBP

Rebecca Duthie Rebecca Duthie 07.11.2022 17:48
Summary: The US data released on Friday was mostly encouraging as job growth exceeded expectations. Friday's release of UK GDP statistics, it might go even further and return to lows from early October. EU economy produced 0.2% growth The market is reflecting bullish signals for this currency pair. In Q3, the EU economy demonstrated that it could produce growth of 0.2% Q/Q. The tiny gain in Q3 depicts the same larger picture, which is that growth has slowed and a recession is still in effect, despite the fact that it appears to be rather hopeful. One of the key indications from a nationwide survey demonstrates how manufacturing has been under tremendous strain as a result of the crisis of rising energy prices. The US data released on Friday was mostly encouraging as job growth exceeded expectations. The decrease in the dollar index, which has persisted into today's European session, was not justified by the minor increase in unemployment statistics. The market's forecast of a 50 bp increase from the Federal Reserve's December meeting is the only thing that has changed. EUR/USD Price Chart BoE November interest rate decision resulted in losses for the GBP The market is reflecting mixed signals for this currency pair. The Bank of England (BoE) interest rate decision in November resulted in significant losses for the Pound to Euro exchange rate, but if the market is still wary of Sterling going into Friday's release of UK GDP statistics, it might go even further and return to lows from early October. After the BoE stated, based on its most recent forecasts, that it believes it has likely already done enough with interest rates to ensure that inflation returns to the 2% target in the coming years, sterling suffered significant losses against most major currencies last week and fell almost 2% against the Euro. In an open conflict with market bets that borrowing costs could climb to 4.7% or more in the coming months, the BoE additionally stated that investors would be foolish to anticipate Bank Rate to rise from November's recently boosted level of 3%. EUR/GBP Price Chart AUD is weaker on monday The Australian Dollar is weaker at the beginning of a new week that may focus on events in China, where officials are showing a willingness to fight rumors that they are likely to reevaluate their zero-Covid policy. The National Health Commission (NHC) of China reaffirmed its commitment to eradicating Covid-19 during a news conference on Saturday, cautioning that the situation was likely to worsen and become "more complex" as the nation entered the winter flu season. The Australian lagged behind. The GBP/AUD currency rate experienced its biggest weekly decrease since the week of February 28 as investors bet on a Chinese economic revival, falling 2.83% for the week. GBP/AUD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
The US Dollar (USD) And The US Dollar To Chinese Yuan (USD/CNH) Pair Show An Upward Move

Facebook’s plan for large scale layoffs, the US dollar rally halted on Monday, Corporate America under investigation

Rebecca Duthie Rebecca Duthie 07.11.2022 13:38
Summary: Meta plans to start mass layoffs this week that will affect thousands of employees. The pound and euro increased as a result of the dollar's decline. After the midterm elections, Republicans have promised to pursue investigations into corporate America. Meta To implement layoffs this week The Wall Street Journal reported on Sunday, citing people familiar with the situation, that Meta Platforms Inc. plans to start mass layoffs this week that will affect thousands of employees. An announcement is expected as early as Wednesday. Meta, the parent company of Facebook (META), predicted in October that a dismal Christmas quarter and much higher costs in 2019 would reduce Meta's stock market value by around $67 billion, adding to the more than half a trillion dollars in value that has already been lost this year. Read next: China's Covid Situation Negatively Affects The Iphone Market| Record Results Of India's SBI| FXMAG.COM The gloomy news comes as Meta struggles to deal with the declining global economy, TikTok's rivalry, Apple's (AAPL) privacy improvements, worries about large spending on the metaverse, and the constant danger of legislation. The social media business had reduced its ambitions to hire engineers by at least 30% in June, and Mark Zuckerberg had advised staff to prepare for a slowdown in the economy. In a previous open letter to Mark Zuckerberg, Meta's shareholder Altimeter Capital Management stated that the company needed to streamline by eliminating positions and capital expenditures. They also stated that investors had lost faith in Meta as a result of its increased spending and pivot to the metaverse. *FACEBOOK PARENT META IS PREPARING LARGE-SCALE LAYOFFS THIS WEEK - https://t.co/ktT04bvkcH $META pic.twitter.com/OEeSsaTsoj — Investing.com (@Investingcom) November 7, 2022 US dollar’s decline Despite Beijing's denial that it would contemplate loosening its zero COVID-19 policy, which had stopped safe-haven dollar flows ahead of this week's potentially crucial consumer inflation data, global stocks moved higher on Monday. However, over the weekend, health officials reaffirmed their commitment to the "dynamic-clearing" approach to COVID cases as soon as they arise. Risk assets had gained on Friday amid rumors China was getting ready to lift its pandemic restrictions. As traders clung to the notion that China will ease some of its restrictions after the government on Monday hinted it will make it easier for individuals to enter and exit the city, an overnight rise in the dollar had faded out by mid-morning in Europe. The pound increased by over 0.8% to $1.1453 as a result of the dollar's decline against other major currencies, and the euro increased by 0.4% to close to parity at $0.99975. Economic events in this week's spotlight The October consumer price index (CPI) will be the biggest macroeconomic risk event this week and might play a significant role in influencing investor expectations for the future direction of Federal Reserve monetary policy. Last week, Fed Chair Jerome Powell dispelled rumors that the central bank may halt the rate of rate increases by asserting that rates would probably stay higher, for a longer period of time. The October employment report, which was released on Friday, revealed considerably greater job growth than anticipated but slower pay growth and an increase in the unemployment rate, suggesting that some of the labor market's tightness may be easing. *U.S. STOCK FUTURES RISE TO START THE WEEK AS INVESTORS LOOK AHEAD TO U.S. CPI, MIDTERM ELECTIONS - https://t.co/lkfZcXR6Xb 🇺🇸 🇺🇸 pic.twitter.com/ZE0YdNisWF — Investing.com (@Investingcom) November 7, 2022 Investigations in corporate America After the midterm elections, Republicans have promised to pursue investigations into the social and environmental policies of big business, so the biggest US companies are preparing for a flood of congressional hearings. After the midterm elections on Tuesday, control of both houses of Congress could go to the Republicans as polls suggest the Democrats are trailing in a number of crucial contests. Republicans would take control of the committees with the authority to subpoena people and records if they gained a majority in the House or Senate. According to people familiar with the situation, attorneys representing financial institutions and technological companies have recently been educating executives on how to respond to a televised grilling from lawmakers. Additionally, with only a few days until the midterm elections, Republican senators—among them Arkansas' Tom Cotton—have written to law firms requesting them to store records pertaining to environmental, social, and governance efforts "in anticipation" of investigations. Corporate America gears up for a new wave of investigations by Congress https://t.co/22IlpMI881 — Financial Times (@FT) November 7, 2022 Sources: ft.com, twitter.com, investing.com
The Commodities Feed: First US crude draw this year

Gold Supported By The Halt In The US Dollar Rally, Brent Crude Futures Increased 4%, Cotton Futures

Rebecca Duthie Rebecca Duthie 04.11.2022 15:46
Summary: Gold prices rose by almost 2% on Friday. The price of Brent crude futures increased by about 4%. Cotton prices remained almost 50% below their May peak. Gold prices rose in the wake of the halt of the US dollar rally On Friday, when the dollar rally came to a halt and investors considered the monetary policy prospects, gold prices rose by almost 2%, approaching $1670 an ounce. The most recent payrolls report demonstrated that the US labor market is still strong, with payroll growth above expectations by 261K, supporting the Fed's decision to continue its tightening measures. Investors also believe that much more tightening won't likely be required, despite the unemployment rate exceeding expectations. The Fed Chair stated that it is "premature to discuss pausing" and that interest rates would need to rise more than initially anticipated as the central bank announced its fourth consecutive 75 basis point rate hike on Wednesday. Gold Futures Price Chart Brent crude futures touching levels not seen since late July The price of Brent crude futures increased by about 4% to above $98 per barrel, a level not seen since late July, as news reports that China would ease its coronavirus-related restrictions in the near future improved the outlook for demand. Additionally, the likelihood that the world's oil markets would continue to be highly tight gave bulls another reason for optimism. There is growing concern that the oil cartel would further intervene in markets to support prices, despite the recent agreement by OPEC+ to reduce output by 2 million barrels per day in November, the largest since the epidemic. Concerns about a projected recession-driven decline in demand brought on by a string of draconian tightening measures from important central banks kept prices in check. The international benchmark increased by about 5% this week, putting it on course to advance for a third straight week. Brent Crude Oil Futures Price Chart Cotton futures 50% lower than late July peak As dip buyers started to show up, a significant selloff that had driven cotton futures to a nearly 22-month low of 71.6 last month was tempered. Cotton futures are now moving towards the 80 USd/Lb level. Nevertheless, prices remained almost 50% below their May peak, restrained by a stronger currency and persistent worries about demand brought on by the difficult economic climate. According to the most recent estimate from the US Department of Agriculture, both acreage and yield grew, and worldwide cotton production is predicted to reach 118.1 million bales in 2022–2023—an increase of 2% over the previous year. India, Brazil, and China are mostly responsible for the increased output, which counterbalanced decreases from the United States and Pakistan. Cotton Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
The Collapse Of The Silicon Valley Bank Weakened The Dollar And USD/JPY But Supported EUR/USD, AUD/USD, And GBP/USD

Dollar lost ground to the Euro & GBP on Friday, US Jobs report missed expectations

Rebecca Duthie Rebecca Duthie 04.11.2022 15:42
Summary: The US Dollar weakens in the wake of the US jobs report. The British Pound may be headed for significant losses this November against the Dollar, the Euro. USD/JPY wedge continues to grow. USD loses ground against the EUR The market is reflecting mixed signals for this currency pair. Following the release of U.S. labor market data that, while still positive, reaffirmed a pattern of decreasing employment gains and pay growth, the Dollar dropped 1% against the Pound and 1.20% against the Euro. In October, the economy added 261K jobs, much exceeding the consensus estimate of 193K, while September's number was impressively raised up to 315K. Overachieving forecasts of 0.3%, average hourly earnings increased by 0.4%, suggesting persistent wage pressures that will support future domestic inflationary pressures. This information supports the Federal Reserve's statement from mid-week that it is too early to think about stopping its rate hike cycle, which raised exchange rates for the Dollar globally. Since the data do not indicate that the themes of previous months are likely to abruptly change, the Dollar's decline could instead be the result of profit-taking after Wednesday's gains. EUR/USD Price Chart BoE predict a UK economic slump The market is reflecting bullish signals for this currency pair. As investors respond to the Bank of England's most recent gloomy economic forecasts, the British Pound may be headed for significant losses this November against the Dollar, the Euro, and a variety of other major currencies. The Bank hinted that the UK economic slump, which it has been anticipating for some time, may now be considerably severe than initially anticipated in its November Monetary Policy Report. EUR/GBP Price Chart The wedge between the USD & JPY The market is reflecting mixed signals for this currency pair. Due to recent currency interventions, USD/JPY has been an interesting pair, with downmoves unable to gather significant organic impetus. However, a dollar bid continues to put the majority of currencies under pressure, making it challenging to dismiss gains as durable given the wider technical context. The rising wedge that had developed over the previous few months indicated that at some point we would either have a breakdown that would lead to an unwinding that would cause USD/JPY to plummet by a significant amount or a shot higher that would conclude the run upward. EUR/GBP Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Analysis And Trips For Trading The GBP/USD Pair In Short And Long Positions

US Unemployment Rate Increased To 3.7%, UK Private Wealth Portfolios, PBoC Trying To Gain Access To Top Internet Companies Data

Rebecca Duthie Rebecca Duthie 04.11.2022 14:54
Summary: In the biggest economy in the world, the jobless rate rose from 3.5% to 3.7% last month. The real worth of UK private wealth portfolios decreased by up to one-third. Beijing is working to tighten its control over the nation's digital sector. US Unemployment rate rises In October, the U.S. economy created 261,000 new jobs, according to Bureau of Labor Statistics data. The carefully watched reading from last Friday was lower than the upwardly revised amount of 315,000 in September but still higher above economists' projections of 200,000. In the biggest economy in the world, the jobless rate rose from 3.5% to 3.7% last month. The number was expected to increase to 3.6%, according to economists. However, a jump in the unemployment rate to 3.7% signaled some easing in labor market conditions, which would allow the Federal Reserve to tilt towards smaller interest rate hikes beginning in December. In October, U.S. firms employed more workers than anticipated. 200,000 jobs were predicted by economists surveyed by Reuters, with estimates ranging from 120,000 to 300,000. After rising 5.0% in September due to the removal of previous year's significant increases from the computation, wages climbed by 4.7% annually in October. Additionally, other pay metrics have cooled off, which is positive for inflation. The Fed impact on Unemployment The Fed announced a fresh 75 basis point increase in interest rates on Wednesday and warned that future increases in borrowing costs will be necessary to combat inflation, but it also hinted that it may be nearing the end of the sharpest tightening of monetary policy in 40 years. Because businesses have been replacing workers who would have gone, job growth has remained strong despite a decline in domestic demand and an increase in borrowing prices. However, with recession threats rising, this practice may soon come to an end. According to a poll released by the Institute for Supply Management on Thursday, some businesses in the services sector "are delaying backfilling available positions" because of the unstable economic climate. ⚠️BREAKING:*U.S. UNEMPLOYMENT RATE RISES TO 3.7% AS ECONOMY ADDS 261,000 JOBS IN OCTOBER 🇺🇸 🇺🇸 pic.twitter.com/Z0fiqgAI5X — Investing.com (@Investingcom) November 4, 2022 UK Private wealth portfolios under pressure In the first nine months of this year, the real worth of UK private wealth portfolios decreased by up to one-third on average as people's purchasing power was hammered by a combination of investment losses, inflation, and a weak pound. According to research by Asset Risk Consultants (ARC), which examined the performance of strategies employed by more than 100 significant UK wealth managers, UK wealth management portfolios lost about 10% on average in the year ending in September, but price increases and the decline in the value of the pound against the US dollar increased the losses. The numbers demonstrate that for UK investors this year, inflation and currency fluctuations have destroyed much more real value than the concrete losses on investment portfolios. Investors, according to Harrison, frequently think of their wealth in terms of a fixed amount and fail to mentally adapt when the purchasing power of their assets changes. The sector responsible for managing the wealth of wealthy families is predicated on the principle of protecting money, therefore the losses will cause wealth managers and their customers to have difficult conversations. UK private wealth portfolios down by up to a third https://t.co/TnUgAX5XGA — Finance News (@ftfinancenews) November 4, 2022 PBoC trying to control digital sector The Chinese central bank is having trouble persuading more than a dozen top internet companies to meet a deadline in December for sharing user data with state-backed credit-scoring firms. Beijing is working to tighten its control over the nation's digital sector and consumer financing, which is why there is a dispute over who should govern access to the internet companies' enormous troves of user data. According to insiders briefed on the negotiations, the People's Bank of China asked Tencent, Meituan, and other significant platforms to provide user data with two state-backed businesses, Baihang and Pudao, by the beginning of next month. This data includes everything from shopping records to travel histories. PBoC struggles to impose personal data regime on China’s tech groups https://t.co/Olv9Tl3iMK — Finance News (@ftfinancenews) November 4, 2022 Sources: ft.com, investing.com, twitter.com
WTI Crude Oil Driven Down By Recession Concerns, Palladium Touching 5-month Lows, Coffee Futures

WTI Crude Oil Driven Down By Recession Concerns, Palladium Touching 5-month Lows, Coffee Futures

Rebecca Duthie Rebecca Duthie 03.11.2022 16:28
Summary: Worries about a likely recession-driven decline in demand for WTI Crude. Dollar index dipped back toward 20-year highs. higher Brazilian real and lower global supplies for coffee. WTI Crude Oil trading low On Thursday, WTI oil futures were trading around $88.50 per barrel, down from a session high of $90.40, as worries about a likely recession-driven decline in demand took precedence. In a decision that was largely anticipated, the Fed increased its benchmark rate by 75 basis points. It did, however, issue a warning that interest rates would rise more than expected, maintaining the pressure on global demand and economy. Losses were however constrained by the likelihood that the global oil market would remain extremely tight. There is growing concern that the oil cartel would further intervene in markets to support prices, despite the recent agreement by OPEC+ to reduce output by 2 million barrels per day in November, the largest since the epidemic. While this was going on, Saudi Arabia warned the US through intelligence that Iran was about to attack Saudi Arabian targets. A battle in the area might cause the world market to lose millions of barrels. WTI Crude Futures Price Chart Palladium touching 5-month lows Palladium futures continued to decline, reaching a low of $1,820 per ounce, the lowest level in nearly five months, as the dollar index dipped back toward 20-year highs due to the possibility of further increases in interest rates, which damaged commodities. Prices for palladium are more than 40% lower than they were in March, since palladium is being replaced by platinum and interest rates are rising. In order to combat inflation even during a slowdown, the Federal Reserve, the most powerful central bank in the world, is projected to keep raising interest rates. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. The palladium market is projected to be balanced or in deficit this year and next year, according to analysts who predict supply-demand balances. Palladium Mar ‘23 Futures Price Chart Coffee futures Due in part to the higher Brazilian real and lower global supplies, Arabica coffee futures on the ICE were trading at or around their best levels since October 25. While the International Coffee Organization reported that worldwide coffee shipments from October through September declined 0.4% year over year to 129 million bags, recent data indicated ICE-certified arabica stockpiles fell to a fresh 23-year low of 384,795 bags. The Minas Gerais region of Brazil, which produces around 30% of the nation's arabica crop, received only 79% of the historical average of 28.9 mm of rain last week, according to the most recent Somar Meteorologia report. Coffee Mar ‘23 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
The GBP/USD Pair Did Not Reach The Nearest Target Level Of 1.2259

USD Continued On Its Strengthening Path (EUR/USD), BoE Hiked Interest Rates By 75bps (EUR/GBP, GBP/AUD)

Rebecca Duthie Rebecca Duthie 03.11.2022 16:28
Summary: The US Dollar continued to strengthen overall on Thursday. Another action by the Bank of England has the Pound taking a beating. Sterling dropped significantly, including against the Australian Dollar. Euro is lacking monetary backing The market is reflecting bearish signals for this currency pair. On Thursday, the US Dollar continued to strengthen overall as a result of the US Federal Reserve's decision to change its monetary policy earlier in the day. This made the Euro continue to struggle against the US Dollar. In terms of interest rates, the markets received the well-predicted three-quarter point hike that was punctually provided. However, there were a lot of people hoping that Fed Chair Jerome Powell would formally reverse his aggressive monetary tightening policy. In the end, he refrained from doing so and instead warned the markets that if inflation is to be contained, borrowing prices may still need to increase significantly. This weakness was forewarned by Christine Lagarde, president of the European Central Bank, that interest rates in the Eurozone must also continue to rise. Well, may she do so, with the currency bloc's consumer price inflation hitting historic highs. The Euro lacks monetary backing in the global market because markets anticipate more of the same. It lacks fundamental support as well, with a cost-of-living issue that is eroding consumer confidence throughout the Eurozone. Of course, Germany is the center of the currency zone. As the conflict in Ukraine drags on, it is now struggling with the necessity to wean itself off of its dependency on Russian gas. As a result, the third quarter of this year saw a significant slowdown in Eurozone growth. EUR/USD Price Chart GBP declines in the wake of BoE interest rate decision The market is reflecting bullish signals for this currency pair. Another action by the Bank of England has the Pound taking a beating. The Bank of England increased the Bank Rate by 75 basis points to 3.0%, but it made it apparent that a jump to 5.0% or above was not likely, sending the Pound into a reflexive sell-off. According to a statement issued by the Bank, the Monetary Policy Committee (MPC) decisively voted 7-2 to raise interest rates by 75 basis points, but this exceptionally significant increase appears to be an outlier. However, significantly for the foreign exchange markets, the Bank won't be delivering as many rate increases as investors anticipate. The Bank's decision and financial calculations are based on market expectations that the Bank Rate will increase to a top of 5.25% in 2023, which is why the Pound has reacted in this way. In such a case, the Bank's economists predict that inflation will return to zero in three years, significantly below the target of two percent. EUR/GBP Price Chart AUD beating the GBP The Bank of England (BoE) appeared to rule out the possibility of indulging in derivative market pricing, hinting that Bank Rate could reach five percent in the months ahead, which hampered the Pound to Australian Dollar rate and put it at risk of further losses in the last session of the week. The Bank of England announced its largest increase in the Bank Rate in decades on Thursday, but said financial markets were barking up the wrong tree when they bet that borrowing costs could still rise significantly further down the road. As a result, sterling dropped significantly, including against the Australian Dollar. GBP/AUD Price Chart Sources: dailyfx.com, poundsterlinglive.com, finance.yahoo.com
Solid Wage Growth in Poland Signals Improving Labor Market Conditions

BoE Hikes Interest Rates 75bps, ECB Feeling Post-fed Interest Rate Hike Repercussions, Fed Hikes Interest Rates 75bps

Rebecca Duthie Rebecca Duthie 03.11.2022 15:49
Summary: The Bank of England increased interest rates by 0.75 percentage points to 3%. The Fed, which has an impact on international markets, must be monitored by the ECB. Jay Powell forewarned that US interest rates may rise higher than anticipated. BoE interest rate hikes The Bank of England increased interest rates by 0.75 percentage points to 3% in order to combat inflation in a way that hasn't been attempted in the past 30 years. The central bank offered unusually strong guidance that interest rates wouldn't need to rise much higher to bring inflation back to its objective of 2%, despite predicting a "particularly tough outlook" with a protracted recession ahead. The Monetary Policy Committee of the Bank of England stated that market estimates for an interest rate peak of 5.25 percent were excessively high. According to the statement, the majority of the committee thought that "additional hikes" could be necessary "for a durable return of inflation to goal, albeit to a peak lower than priced into financial markets." BoE’s latest interest rate hike was was aggressive The BoE's decision followed a similar move by the European Central Bank last week and a 0.75 percentage point increase by the US Federal Reserve on Wednesday. The official interest rate in the UK reached its highest point since late 2008 after being raised to 3%. Aside from a sharply reversible jump on September 16, 1992, often known as "Black Wednesday," it is the biggest increase since 1989. A bigger rise at the meeting "would help to bring inflation back to the 2% target sustainably in the medium term, and to minimise the risks of a more lengthy and costly tightening later," according to the meeting minutes, which were approved by seven of the nine MPC members. ⚠️BREAKING:*BANK OF ENGLAND RAISES KEY INTEREST RATE BY 75BPS TO 3.00%, LARGEST RATE HIKE SINCE 1989🇬🇧🇬🇧 pic.twitter.com/A3rx8jpeLz — Investing.com (@Investingcom) November 3, 2022 ECB facing repercussions from aggressive Fed The U.S. Federal Reserve, which has an impact on international markets, must be monitored by the European Central Bank, but it cannot simply copy its policy decisions, according to ECB President Christine Lagarde on Thursday, following the Fed's guidance for even higher interest rates. On Wednesday, the Fed increased its benchmark rate by another 75 basis points. Fed chair Jerome Powell also stated that borrowing costs would need to increase "higher than previously projected" in order to combat inflation, which caused investors to price in additional ECB rate increases as well. But Lagarde argued that because economic conditions in the 19-country euro zone were different from those in the United States (and the ECB itself raised rates by 75 basis points last week), the ECB could not simply mimic the Fed. This point was also made by ECB board member Fabio Panetta and Bank of Italy governor Ignazio Visco. Lagarde acknowledges ECB was affected by the Fed’s actions Lagarde acknowledged that the ECB was "affected by the repercussions" of Fed action on the financial markets, particularly the decline in the value of the euro relative to the dollar on Thursday. Lagarde reiterated her commitment to bringing inflation down to the ECB's 2% objective by stating that "clearly the exchange rate matters and has to be taken into account in our inflation projections." According to ECB data released on Thursday, the interest rate that banks seek from businesses increased by 55 basis points in September, the largest monthly increase since the creation of the euro, to stand at 2.41%. Since 2015, this was the highest. *ECB PRESIDENT LAGARDE: A RECESSION WON'T BE SUFFICIENT TO SETTLE INFLATION🇪🇺🇩🇪🇫🇷🇮🇹🇪🇸🇳🇱 pic.twitter.com/zcfEzCi1ZB — Investing.com (@Investingcom) November 3, 2022 Fed may slow down their interest rate hiking cyc;e Jay Powell forewarned that US interest rates may rise higher than anticipated, but he also left open the prospect that the Federal Reserve might slow down its drive to tighten monetary policy. Speaking after the central bank raised its benchmark interest rate by 0.75 percentage points for the fourth time in a row, Powell cautioned that there was still work to be done in bringing down inflation and cited a number of economic indicators to support his claim. Powell did, however, provide a suggestion that policymakers would be open to adopting a less drastic rise at the Fed's upcoming meeting in December. The following meeting or the one after that may mark the beginning of that period. Powell made a crucial point when he noted that before transitioning to lesser hikes, the Fed did not need to wait for several months of lower inflation data. ⚠️BREAKING:*FED CHAIR POWELL SAYS TIME TO SLOW RATE HIKES MAY COME 'AS SOON AS NEXT MEETING'$DIA $SPY $QQQ 🇺🇸 🇺🇸 — Investing.com (@Investingcom) November 2, 2022 Sources: twitter.com, investing.com, ft.com
CVs Health and Walgreens Are The Most Recent In The Line Of Settlements Concerning The Opioid Problem

CVs Health and Walgreens Are The Most Recent In The Line Of Settlements Concerning The Opioid Problem

Rebecca Duthie Rebecca Duthie 02.11.2022 16:35
Summary: CVS Health and Walgreens, have agreed to pay roughly $10 billion. These are the first agreements made by pharmacy chains related to their involvement in the US opioid crisis. CVs Health and Walgreens settle opioid lawsuits The two largest US drugstore chains, CVS Health and Walgreens, have agreed to pay roughly $10 billion to resolve the majority of the ongoing legal disputes relating to the prescription of potent opioid medicines. These are the first agreements made by pharmacy chains related to their involvement in the US opioid crisis, which has resulted in tens of thousands of fatalities in recent years. “The agreement would fully resolve claims dating back a decade or more and is not an admission of any liability or wrongdoing,” the company added, as it released third-quarter results. “CVS Health will continue to defend against any litigation that the final agreement does not resolve.” With payments totaling around $4.79 billion over 15 years, Walgreens announced that it has achieved an agreement in principle to defend against the "vast majority" of opioid lawsuits brought against it by states. Under the deal, it anticipates paying native American tribes an additional $154 million. According to Walgreens, the agreements did not include the firm admitting any wrongdoing or guilt. According to a Tuesday Bloomberg News article, a $12 billion opioid settlement agreement had been reached between CVS, Walmart, and Walgreens. The in-principle agreements reached with CVS and Walgreens "are an important step in our efforts to hold pharmacy defendants accountable for their role in the opioid epidemic," according to the negotiating team in the National Prescription Opiate Litigation, a group of senior attorneys who have been working on the opioid lawsuits. The settlements with CVS and Walgreens are the most recent in a line of settlements concerning the opioid problem. CVs Price Chart Sources: ft.com, finance.yahoo.com
Saxo Bank Podcast: Natural Gas On Colder Weather, Wheat And Coffee Under Pressure, JPY Weaker And More

Platinum Futures, Efforts To Slow Gas Prices Continue, Wheat Futures Down 6%

Rebecca Duthie Rebecca Duthie 02.11.2022 16:34
Summary: Platinum futures are down 1.11% during 2022. Russia declared that, once its requests have been satisfied by Ukrainian counterparts, it is willing to continue the trade agreement that ensures a safe passageway for grain-carrying vessels. EU efforts to lower high energy prices are slowing down the adoption of renewable energy. Platinum Futures According to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity, platinum has dropped 10.67 USD/t oz. or 1.11% since the start of 2022. Platinum Jan ‘23 Futures Price Chart Wheat futures fell 6% on Wednesday Following news that trade for ships transporting grain out of Ukrainian Black Sea ports may resume operations, Chicago wheat futures plunged more than 6% to $8.5 per bushel on Wednesday, dropping considerably from the three-week high of $9 reached the prior session. Russia declared that, once its requests have been satisfied by Ukrainian counterparts, it is willing to continue the trade agreement that ensures a safe passageway for grain-carrying vessels. The action was taken after Moscow abruptly chose to terminate the agreement's participation at the end of October, citing security concerns that Kyiv refuted. The continuance of shipments from Ukraine will boost global supplies in addition to freeing up essential storage space for the upcoming harvest, increasing concerns about a global food crisis that drove wheat prices to a record-high $12.8 in May. Prior to February's Russian invasion of Ukraine, sales from both nations made up about 30% of all exports. Wheat Futures Price Chart RBOB Gasoline futures The CEO of one of the biggest wind turbine manufacturers in the world cautioned that EU efforts to lower high energy prices are slowing down the adoption of renewable energy just as the area wants to boost it up. “Every indication is that the EU and governments have spent more time in finding taxation methods or trying to limit energy prices, which has actually slowed the process and project accruals,” Henrik Andersen, chief executive of Danish wind turbine manufacturer Vestas, told the Financial Times. In an effort to slow the growth in energy costs across Europe brought on by high gas prices, European energy ministers decided in September to set a $180 per megawatt-hour cap on earnings from the production of wind, solar, and nuclear energy. RBOB Gasoline Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, ft.com, tradingeconomics.com
ADP Non-farm payrolls jobs market data show a growth of 127K, much less than the previous print

FOMC Interest Rate Decision In The Spotlight (EUR/USD), HSBC Claims GBP Is Close To Long-term Base (EUR/GBP, GBP/ZAR)

Rebecca Duthie Rebecca Duthie 02.11.2022 16:34
Summary: A big increase in monetary policy is unlikely to assure a rise in the value of the US dollar. Markets already struggling with the UK's long-standing and well-known structural problems. BoE interest rate decision due Thursday. Fed interest rate decision in the spotlight The market is reflecting bearish signals for this currency pair. At 18:00 GMT, the biggest central bank in the world is expected to make a controversial monetary policy announcement, and the markets are certainly focused on it. The market's reaction may be biased because speculation through Fed Fund futures and other channels has made a further 75 basis point rate hike from the group almost certain. It's crucial to remember that no single aspect of this well-publicized incident should be seen as a firm indication for speculation. A big increase in monetary policy, such as a rate hike of 75 basis points, is therefore unlikely to assure a rise in the value of the US dollar and send US indices into a downward spiral. EUR/USD Price Chart GBP appears to be finding some balance The market is reflecting bearish signals for this currency pair. The largest bank in the UK, HSBC, claims that the British pound is close to a long-term base. HSBC analysts state that "after showing signs of vertigo, GBP appears to be finding some balance" in a briefing on foreign exchange research. Declines followed the market's reaction to tax cut proposals made by the former prime minister Liz Truss that were to be paid for by further borrowing, alarmed investors who questioned whether the UK's debt condition would prove to be sustainable. Markets were already struggling with the UK's long-standing and well-known structural problems, especially the budget deficit and the current account deficit, when the "mini budget" fiasco broke out. EUR/GBP Price Chart ZAR almost worst performing currency in G20 The Pound to Rand rate has more than made up for its September losses in a recovery that has most recently plateaued near 2022 highs, but if the Dollar stays weak or if Sterling is hurt by Thursday's Bank of England (BoE) decision, it will be at risk of a corrective setback later this week. The total result was an almost 12% comeback from a late September low, which saw GBP/ZAR erase much of the year's previous losses in the process. South Africa's Rand was nearly the worst performing currency in the G20 grouping for October while the Pound was among the strongest. The Rand's underperformance occurred during yet another strong month for the Dollar and a stretch of unusually marked weakness for China's Renminbi. Local data that showed the manufacturing sector as virtually the only bright spot in an otherwise cooling South African economy may also have contributed to the Rand's underperformance. GBP/ZAR Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Disappointing German March macro data increase risk of technical recession

Airbnb Q3 Earnings Beat Market Expectations, ECB Puts Pressure On Banks Regarding Climate Change, Credit Suisse Just Misses Junk Status

Rebecca Duthie Rebecca Duthie 02.11.2022 13:58
Summary: Airbnb Q4 earnings look dim. ECB to increase capital requirements for banks if they do not address climate change risks. S&P Global Ratings reduced Credit Suisse Group AG's. Airbnb anticipating poor booking outlook for Q4 Shares of Airbnb Inc. dropped after the firm provided a poor booking outlook for the fourth quarter, signaling that consumer preferences are changing back to urban and international locations rather than the more expensive rentals that were popular during the pandemic. In comparison to the third quarter's rise of 25%, the home-sharing platform said it anticipates the pace of nights and experiences booked will "slow significantly" in the fourth quarter. In the three months that ended in September, Airbnb reported 99.7 million nights and experiences booked, underperforming analysts' expectations of 99.9 million. Prior to the New York stock exchanges opening, the shares decreased by nearly 6% in premarket trading. In trading on Tuesday, the stock increased 2% to settle at $109.05 after falling 35% this year. Additionally, Airbnb stated that it anticipates average daily rates to moderate this quarter as a result of a strong currency and a trend in travelers returning to cities, where rates are often cheaper due to smaller facilities. With the low end of that range falling below Wall Street's estimate of $1.86 billion, the business projected fourth-quarter sales of between $1.80 billion and $1.88 billion. The somber prognosis comes after Airbnb had its most successful quarter and greatest quarterly revenue during the summer. The company's third-quarter earnings of $1.2 billion above analysts' expectations as revenue increased 29% to $2.88 billion. Before the numbers were made public, Bloomberg Intelligence analysts Mandeep Singh and Damian Reimertz warned in a note that Airbnb could start competing again with hotels, which are currently seeing more inventory come back online following the pandemic downturn. $ABNB reports Q3 earnings that beat estimates, but comes in a bit low with Q4 guidance sending shares down. 👀 Q4 revenue forecast $1.80B to $1.88B vs $1.86B estimate💵 Revenue $2.88B vs $2.83B estimatehttps://t.co/RzAY1P67Ux — Yahoo Finance (@YahooFinance) November 1, 2022 ECB addressing Climate Risk After identifying numerous areas of concern, the European Central Bank increased the pressure on banks by warning them that if they don't address their financial risks related to climate change within the next two years, there will be increased capital requirements and fines. The ECB has sent letters to all of the major banks in the eurozone outlining 25 areas, on average, where it believes they are falling short in tackling climate risks and setting a deadline of 2024 to do so. The ECB announced on Wednesday that a "limited number" of banks have already had their capital requirements increased this year owing to concerns that they have not adequately addressed climate risks. This occurred in accordance with "pillar two" guidance, which, though not required, has a big impact on banks' capital management. The actions signal a substantial increase in the central bank's pressure on eurozone bankers to accelerate their efforts to identify, manage, and disclose climate risks in their balance sheets. Frank Elderson, vice-chair of the ECB's supervisory board, stated in a blog post that "the glass is slowly filling up, but it is not yet even half full." Credit Suisse just misses junk status ECB warns banks of capital hit if they fail to tackle climate risk https://t.co/ttlQoZDm1B — Finance News (@ftfinancenews) November 2, 2022 S&P Global Ratings reduced Credit Suisse Group AG's long-term rating to only one notch above junk status, highlighting the bank's difficulties following the announcement of a dramatic restructuring plan last week. The long-term rating of the Swiss bank was downgraded from BBB to BBB- with a stable outlook. Just one notch separates that from the BB "speculative grade." Following the restructuring's announcement on Thursday, the US ratings agency echoed a number of experts by stating that it saw "significant execution risks amid a deteriorating and uncertain economic and financial environment." Additionally, it indicated that many aspects of asset sales are still "unclear." As investors assessed the hefty costs of the plan, the low return expectations, and the massive dilution, Credit Suisse's new strategy led to the day's worst single-day decrease in share price ever, with shares falling 18%. The bank announced the strategic review as it reported a quarterly loss of 4.03 billion Swiss francs, which included a substantial impairment of deferred tax assets connected to the redesign. The restructure will result in the dissolution of the investment bank and will cost roughly $2.9 billion through 2024. S&P downgrades Credit Suisse Group, Moody's cuts some ratings https://t.co/n12QMnXBx5 pic.twitter.com/ASCCZSV3cg — Reuters (@Reuters) November 2, 2022 Sources: finance.yahoo.com, twitter.com, ft.com, reuters.com
Chile's Lithium Nationalization and the Global Trend of Resource Nationalism: Implications for EV Supply Chains and Efforts to Strengthen Battery Metal Supply

NGAS Down 10% On Tuesday, Gold Increased Ahead Of Wednesday's Fed Announcement, Cotton Futures Touching 22-month Lows

Rebecca Duthie Rebecca Duthie 01.11.2022 20:58
Summary: US natural gas futures fell over 10%. Gold rose ahead of the Fed monetary policy announcement tomorrow. The price of cotton futures fell to a 22-month low. NGAS close at their lowest since May US natural gas futures fell over 10%, closing in on their lowest level since May at $5.6/MMBtu, as utilities continued to inject gas into storage for the winter despite expectations for milder weather over the next two weeks that should reduce demand for cooling. As record production levels and weaker export demand, notably from Europe, alarmed investors, natural gas prices in the US have now fallen more than 40% from their peak in August. The Cove Point LNG plant in Maryland owned by Berkshire Hathaway Energy, meanwhile, resumed operations on October 28 following a month of maintenance. In early to mid-November, the Freeport plant in Texas is also expected to partially begin operations. NGAS Dec ‘22 Futures Price Chart Gold increased on Wednesday Ahead of the highly anticipated Fed monetary policy announcement due tomorrow, gold prices increased by about 1% to trade above $1,650 an ounce on Tuesday as the dollar surge came to an end and bond rates dropped. The central bank is expected to deliver another rate increase of gigantic proportions (75 bps), but the likelihood that it will limit the tempo of hikes in December is growing. In other countries, the Reserve Bank of Australia increased interest rates once more by 25 basis points in November, while the Bank of England is scheduled to raise rates once more on Thursday. Despite Tuesday's advances, gold is still under severe pressure and is not far from lows not seen since April 2020 because keeping non-yielding bullion has a higher opportunity cost due to a general increase in borrowing costs. Gold Dec ‘22 Futures Price Chart Cotton under strain of the strong USD The price of cotton futures fell to a 22-month low of 75.1 USd/Lbs under the strain of a stronger dollar and continuing demand worries brought on by difficult economic conditions. According to the most recent estimate from the US Department of Agriculture, both acreage and output grew, and worldwide cotton production is predicted to reach 118.1 million bales in 2022–23, a 2% rise over the previous year. China, Brazil, and India contributed more to the increase in output than the United States and Pakistan did to the decrease. Cotton Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
The British Pound Is Showing Signs Of Exhaustion Of The Bullish Force

Fed Fully Expected To Raise Interest Rates By 75bps (EUR/USD, EUR/GBP), BoE Interest Rate Decision Due On Thursday (GBP/CAD)

Rebecca Duthie Rebecca Duthie 01.11.2022 16:41
Summary: The Fed’s Wednesday's anticipated 75 basis point hike may be the last of its sort. The likelihood of a recession in the Euro Area has grown. The BoE decision on Thursday is the most significant event of the week for the Pound. Markets anticipate the Fed’s policy rate decision The market is reflecting bearish signals for this currency pair. With the Federal Reserve's policy announcement on Wednesday and the crucial U.S. jobs data on Friday, this is a crucial week for global FX. Therefore, the Dollar side of the equation will be the driving force behind the Euro to Dollar exchange rate (EUR/USD), especially now that the European Central Bank's October policy meeting is over. The possibility of a "pivot" by the Federal Reserve, whereby they signal that Wednesday's anticipated 75 basis point hike will be the last of its sort and that hikes will proceed at a slower rate starting in December, is particularly exciting for investors in the financial markets. According to some analysts, this could support the idea that the U.S. Dollar has reached its top, or the "pivot," as it is known in the financial community. EUR/USD Price Chart Likelihood of Eurozone recession has increased The market is reflecting mixed signals for this currency pair. According to a new report, the decline in UK home prices has just started. Capital Economics researchers predict falls of about 12% by 2024 on the same day Nationwide announces the first drop in home values in 15 months. The likelihood of a recession in the Euro Area has grown, according to ECB President Christine Lagarde, who also stated that while uncertainty is still high, "a central bank has to focus on its duty." The destination is clear, but we are not there yet', said President Lagarde. EUR/GBP Price Chart GBP at risk due to UK economy The Pound to Canadian Dollar exchange rate recently hit four-month highs, but numerous technical barriers are standing in the way of its ascent on the charts, and Thursday's Bank of England (BoE) interest rate decision carries risks that could further thwart its recovery in the days and weeks to come. Since hitting record lows near 1.40 in late September, the value of the pound has increased by more than 10% against the Canadian dollar. Last Friday, it reached a high of 1.5811, but it has been unable to hold that level due to a number of technical resistances that are scattered across the chart around the 1.57 handle. The BoE decision on Thursday is the most significant event of the week for the Pound and comes before Friday's release of Canada's September employment report. However, Sterling is at risk due to the UK economy's deteriorating performance and prospects, which are at odds with widely held beliefs about the outlook for bank rates. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Franc Records 11th Consecutive Daily Decline Against the Dollar as US Economic Concerns Mount

Non-transparent ETFs Have Been Struggling, Elon Musk Making Many Changes To Twitter, Pfizer COVID-19 Revenues Rise

Rebecca Duthie Rebecca Duthie 01.11.2022 16:14
Summary: Since non-transparent ETFs were introduced two years ago, they have had difficulty gaining popularity. Elon Musk continues to make Twitter changes. Tuesday saw Pfizer increase its Covid-19 vaccine sales projection. Non-transparent ETFs Since the initial products were introduced two years ago, non-transparent ETFs have had difficulty gaining popularity among investors, according to data. According to Bryan Armour, director of passive strategies research for North America at Morningstar, portfolio-shielding ETFs had $4.4 billion in assets as of September 30, making up around 1.5% of the active ETF market. However, according to Morningstar data, only one ETF, the $2.1 billion Nuveen Growth Opportunities ETF, has roughly half of those assets. After attracting attention from companies including BlackRock, Capital Group, Nuveen, Columbia Threadneedle, and American Century, non-transparent ETFs were given regulatory permission in December 2019. On March 31, 2020, American Century introduced the first actively managed non-transparent ETFs. According to the American Century website, the Focused Dynamic Growth ETF currently has $121 million and the Focused Large Cap Value ETF currently has $200 million. According to Armour, non-transparent ETFs have seen a decline in market share among active ETFs this year. According to him, active ETFs have organically increased by 19.8% year to date through September, outpacing non-active ETFs by 11.7 percentage points. Non-transparent ETFs have had a difficult time amassing assets in part because large broker-dealers have been reluctant to add the products to their systems. UBS, Merrill Lynch, and Morgan Stanley Wealth Management all announced this year that they will begin providing a limited selection of portfolio-shielding ETFs on their platforms. Overall, Nate Geraci, president of The ETF Store, stated that investor response to opaque ETFs has been "lukewarm at best" and "downright cold" at worst. Portfolio-shielding active ETFs struggle to gain ground https://t.co/ksLUzKPPkN — Finance News (@ftfinancenews) November 1, 2022 Twitter CEO continuing to make changes The Wall Street Journal reported on Tuesday that Twitter Inc., which billionaire Elon Musk acquired last week, will no longer permit customers of its Blue service to see content without advertisements. In June of last year, Twitter Blue, the platform's first subscription service that provided exclusive access to premium features including the ability to edit tweets, was introduced. Subscribers had access to some publishers' articles without being interrupted by adverts through the service. Last month, the social media site in the US made an edit option available to premium subscribers. According to news sources, Twitter is preparing additional modifications to its $4.99 per month Blue subscription tier, including adding user authentication. Musk added that charging a charge was the best way to "fight the bots & trolls" in a response to author Stephen King on Tuesday, asking if $8 was a price he would pay to be a verified user. $TWTR platform changes under Elon Musk “is literally like throwing spaghetti on the wall and seeing what sticks,” @binance CEO @cz_binance says, adding: “There should be new features every month, every week, every day.” pic.twitter.com/iUsW6pGH9C — Yahoo Finance (@YahooFinance) November 1, 2022 Pfizer revenue rises due to increase in COVID-19 vaccine sales Tuesday saw Pfizer increase its Covid-19 vaccine sales projection by $2 billion to $34 billion as higher pricing offset a drop in demand outside of the US. The US manufacturer claimed that high sales of several of its other medications and its bivalent booster, which targets the dominant strain of the Omicron type, helped it to somewhat offset the negative effects of a strong dollar. As a consequence of third-quarter results that exceeded analysts' estimates and allayed fears about waning demand for Covid products, the business kept its full-year target of $22 billion for sales of the Covid antiviral medication Paxlovid. Shares of Pfizer increased 3.5% in pre-market trading to reach $48.10. Pfizer reported third-quarter sales of $22.6 billion, which were more than experts had anticipated but were down 6% from the same period a year earlier when the pandemic was at its worst. The business raised its estimate for full-year 2022 earnings to a range between $6.40 and $6.50 per share. Additionally, it reduced its projected revenue to a range of $99.5 billion to $102 billion. 💉 Pfizer raises revenue view on higher-than-expected Covid-19 vaccine sales https://t.co/XlgVgQiGGl via @WSJ $PFE is +3.22% in pre-market trading. — Yahoo Finance (@YahooFinance) November 1, 2022 Sources: Twitter.com, ft.com, finance.yahoo.com
Twitter CEO Elon Musk Seems To Be Making Plans To Lay-off Employees

Twitter CEO Elon Musk Seems To Be Making Plans To Lay-off Employees

Rebecca Duthie Rebecca Duthie 31.10.2022 20:26
Summary: Musk's claim is that Twitter has been poorly managed. Musk has asked managers and consultants to suggest which employees should be fired.Musk may be making lay-off plansPeople with knowledge of the situation claim that Elon Musk has started making preparations for widespread layoffs at Twitter as the billionaire businessman shakes up the social media giant just days after finalizing the $44 billion acquisition of the platform. According to two people with knowledge of the situation, Musk has asked managers and consultants to suggest which employees should be fired and which should be kept on. According to the people, Musk is not requesting a specific number of layoffs from Twitter's 7,500 employees. According to one of the people, he prefers to dismiss those who do not support him as leader.After Musk completed the transaction to take the San Francisco social media company private on Thursday evening, he swiftly fired a number of key officials, including the CEO and the head of legal, policy, and trust, Vijaya Gadde. The executives were anticipated to get golden parachutes as per the merger deal; in Agrawal's case, this amounted to approximately $60 million. Two sources with knowledge of the case said that Musk fired the executives "for reason," which implied that he claimed to have a legitimate legal justification for doing so. As a result, the payouts may be void.According to one of the persons, Musk's claim in this case is that Twitter has been poorly managed and that without his proposal, the stock value of the firm would have plummeted. A person acquainted with the executives' thinking claims that they are considering their legal alternatives before making a choice. It is unusual to refuse severance benefits tied to purchases, and the "for cause" clause often demands that misbehavior occurred.The $44 billion deal's completion ushers in a new era for Twitter, one in which the CEO of Tesla and SpaceX will work to transform the company's failing operations, spur product innovation, and alter its content moderation. Musk, who is now going by the handle "Chief Twit," was active on Twitter over the weekend. He shared a penis meme, made fun of an automated message that was ostensibly sent to him but was actually intended for new hires, and made hints about upcoming policy changes.Musk, on the other hand, has concentrated on the product and engineering. He has previously stated that he would personally "oversee software development" instead of appointing anyone to any C-suite executive posts, according to private messages revealed in court documents. Four sources claimed that David Sacks, a venture capitalist and close friend of Elon Musk, is a member of the team assisting Musk. He is also receiving advice from Antonio Gracias, a former Tesla director and the founder of the private equity firm Valor Equity Partners, a source claimed.Sources: ft.com
Portugal's Economic Outlook: Growth Forecast and Inflation Trends

Prospects Of A More Dovish Fed Supporting Silver, Corn Futures Rally, Brent Crude Weighed Down By Recession Fears

Rebecca Duthie Rebecca Duthie 31.10.2022 17:42
Summary: Expectations that the Fed will change course by December sparked a bond rally. Worries about a possible world recession and a drop in oil consumption. Chicago maize futures surged to their highest levels in three months. Silver supported by a potentially dovish fed On optimism that the US Federal Reserve would soon cut down the rate of interest rate hikes to avoid overtightening, spot silver extended gains to beyond $19.5 per ounce, moving farther away from a 1-1/2-month low of $18.3 reached in mid-October. Investors are now essentially certain that the US central bank will announce a fourth consecutive 75 basis point rate hike on November 2, but expectations that the Fed will change course by December sparked a bond rally and caused the dollar to weaken, which increased the appeal of non-interest bearing assets. Even still, silver's price has dropped more than 25% from its March peak, when Russia's invasion of Ukraine sparked a surge in precious metals. Silver Dec ‘22 Futures Price Chart Brent Crude weighed down by recession worries On Monday, the price of Brent crude futures dropped below $95 per barrel as investors became uneasy over persistent worries about a possible world recession and a drop in oil consumption, particularly in China. Concerns that new coronavirus-induced restrictions may harm economic activity and reduce oil consumption were stoked by factory activity falling short of forecasts in the world's largest crude consumer. Nevertheless, despite limited worldwide supplies, the international benchmark increased by more than 10% in October, putting it on course to post its first monthly rise in five. The most significant reduction in output since the start of the crisis was reached in November by OPEC and its partners, including Russia, amid growing rumors that the oil cartel will continue to interfere in markets to support prices. As a component of broader penalties for the invasion of Ukraine, the European Union's ban on Russian oil is also scheduled to go into force in December. Brent Crude Futures Price Chart Corn spiked after Russia pulled out on UN-mediated agreement After Moscow abruptly backed out of the UN-mediated agreement that provided a secure trading route for grain supplies leaving Ukrainian Black Sea ports, Chicago maize futures surged to their highest levels in three months. Although the West disputed the prospect, Russia cited ships being used to deliver weaponry to Ukraine as justification for the cancellation. Following a Russian military embargo that had made seaborne grain exports from Ukraine impossible since February, an agreement that went into effect in July permitted Ukrainian grains to be transported on board ships carrying food from Ukraine. Around 20% of the world's corn exports were made through Black Sea ports prior to the invasion. In addition to prohibiting exports, the stoppage of port activities will prevent Ukraine from releasing crucial storage space in silos as the harvest for the 2022–2023 marketing year is underway, severely endangering the availability of food throughout the world. Corn Futures Price Chart Sources: finance.yahoo.com, finance.yahoo.com
The Bank Of England Can Tighten Monetary Policy Considerably More Gradually Than It Is Now Doing

Eurozone Inflation Touched Record Highs (EUR/USD, EUR/GBP), RBA Interest Rate Decision Due On Tuesday (GBP/AUD)

Rebecca Duthie Rebecca Duthie 31.10.2022 17:39
Summary: Eurostat stated that prices rose by a record 10.7% in October. Uncertainty around BoE interest rate decision. RBA raised interest rates by 25 basis points, and the market is expecting a similar action on November 1. ECB under pressure to raise interest rates further The market is reflecting bearish signals for this currency pair. Eurostat stated that prices rose by a record 10.7% in October, setting a new record for inflation in the Eurozone. Separate figures also revealed that the bloc's economy expanded more quickly than anticipated in the third quarter. The European Central Bank (ECB) is under more pressure to raise interest rates as the inflation data was higher than the market's expectation of 10.3%, despite predictions from some economists that the ECB will soon slow the rate at which it does so. With the energy component of fuel costs rising by an alarming 41.9% year-over-year, rising fuel prices continue to be the main source of inflationary pressures. The EUR/USD is still in a significant macrodowntrend, and even while this picture might not change much in the short term, there may yet be some upside before selling resumes. The euro broke out of a channel it had been trapped in since the beginning of the year last week. EUR/USD Price Chart Markets awaiting BoE interest rate decision The market is reflecting mixed market signals for this currency pair. Due to the uncertainty surrounding the Bank of England's decision on Thursday and the possibility that the BoE will raise interest rates less than markets anticipate, the Pound to Euro exchange rate has continued its recovery from September's lows to reach two-month highs in recent trade. However, this week's gains may be vulnerable to profit-taking. The U.S. dollar weakened last week, which benefitted riskier currencies, and financial markets cheered the appointment of former chancellor Rishi Sunak as prime minister. However, market focus soon shifted to Thursday's interest rate decision and the release of October inflation data from the Eurozone on Monday. Economists and the financial markets anticipate that the BoE will increase the Bank Rate by three quarters of a percentage point to 3%. If delivered, this would be the biggest interest rate increase the BoE has ever made, however it may not be as certain or as done as many people think. EUR/GBP Price Chart RBA expected to remain dovish On Tuesday, the Reserve Bank of Australia is expected to increase interest rates once more, but the size of the increase is uncertain, with potential consequences for the Australian Dollar. On October 4, the RBA raised interest rates by 25 basis points, and the market is expecting a similar action on November 1. However, as inflation picks up speed, the central bank may be compelled to make a U-turn According to the ABS, Australian CPI increased 7.3% in the twelve months leading up to the September 2022 quarter. The announcement occurred just a few days after the Reserve Bank of Australia stunned the markets by raising interest rates by 25 basis points; the Australian Dollar fell as a result. GBP/AUD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Solid Wage Growth in Poland Signals Improving Labor Market Conditions

Eurozone Inflation Touches Record High, US Treasury, What To Watch At BoE Rate Setting Meeting

Rebecca Duthie Rebecca Duthie 31.10.2022 12:59
Summary: Consumer prices in the Eurozone reached a new record high. Investors in US government bonds are pleading with the Treasury department to intervene. The BoE will this week publish its latest decision on interest rates. Eurozone inflation rises for 12th consecutive month According to a flash estimate from the European Union's statistics office, consumer prices in the Eurozone reached a new record high for the twelfth consecutive month, driven by a persistent rise in energy prices. In October, annual inflation in the currency region increased by 10.7%, exceeding economists' expectations of 10.2% and up from the previous level of 9.9%. As a result of ongoing tensions regarding the provision of crucial Russian gas flows into Europe after the start of the war in Ukraine, energy costs increased by 41.9% during the month. Food, drink, and tobacco prices all went up 13.1%. Core inflation, which excludes volatile commodities like food and energy, registered at 5.0%, up from the previous reading of 4.8% and also higher than expected. Businesses have displayed symptoms of pessimism about the future, and economists anticipate that the Eurozone will enter a recession this year as a result of spillover effects from this skyrocketing inflation. According to Eurostat's flash statistics, which was also issued on Monday, the third quarter saw an unusually severe slowdown in economic development in the Eurozone. The seasonally adjusted gross domestic product increased by 0.2% when compared to the prior three months, which was less than the 0.8% increase seen in the second quarter and the 1.0% increase expected. In morning trade, the euro decline against the dollar and little changed thereafter. ⚠️BREAKING:*EURO ZONE ANNUAL INFLATION RATE JUMPS TO 10.7% IN OCTOBER, HIGHEST LEVEL ON RECORD 🇪🇺🇩🇪🇫🇷🇮🇹🇪🇸🇳🇱 pic.twitter.com/3qj1Ddy4dr — Investing.com (@Investingcom) October 31, 2022 Investors pleading with US Treasury department Investors in US government bonds are pleading with the Treasury department to intervene in the market in the hopes that this week will bring signs of potential buybacks following months of erratic price fluctuations and little liquidity. The fast rate hikes and quantitative tightening program implemented by the Federal Reserve this year have heightened the tension in the typically subdued $24 trillion Treasury market. When the Treasury announces its funding for the fourth quarter in the coming days, investors are hoping for hints about what it has in store. The cost of borrowing for the US government and the benchmark for prices across asset classes are determined by Treasury rates, which have fluctuated drastically in 2022. Even though the Treasury bond market is supposedly the most liquid in the world, the volatility has made it more difficult and expensive for investors to buy or sell Treasury bonds.Investors, strategists, and primary dealers anticipate that the Treasury will provide some information in the documents it releases this week after reviewing the survey's findings with them last week. The expected financing requirements for the fourth quarter and the Treasury's intentions for issuance will be revealed on Monday. Investors urge US Treasury to boost bond market liquidity with buyback scheme https://t.co/xlPeGVvvK2 — Financial Times (@FT) October 31, 2022 BoE to make UK economy estimates and interest rate decision The Bank of England will this week publish its latest decision on interest rates along with updated estimates for the UK economy in what is the most anxiously awaited monetary policy meeting in years. One of the most volatile periods in recent UK economic history preceded the BoE's most recent interest rate meeting on September 22. Liz Truss' "mini" Budget, which included £45 billion in unfunded tax cuts, caused a spike in government borrowing costs, necessitated an emergency BoE intervention, and increased mortgage rates for homeowners. In the government's autumn statement on November 17, the new prime minister Rishi Sunak promises a new economic plan that will demonstrate how debt would decrease as a share of gross domestic product over the medium term. Thus, without complete knowledge of Sunak's strategy, the BoE Monetary Policy Committee will be largely "flying blind" when it announces its interest rate decision on Thursday. Four things to watch out for are listed below. Interest rate decision. Economic growth and inflation forecasts. Quantitative tightening. Monetary policy management expectations. Four things to watch at the Bank of England’s rate-setting meeting https://t.co/u2hMRgYqu7 — Financial Times (@FT) October 31, 2022 Sources: ft.com, twitter.com, investing.com
Amazon (AMZN) Stock Price Down Almost 9% In The Wake Of Earnings Predictions

Amazon (AMZN) Stock Price Down Almost 9% In The Wake Of Earnings Predictions

Rebecca Duthie Rebecca Duthie 28.10.2022 17:14
Summary:Amazon released revenue predictions far below those of Wall Street.Rising inflation and energy costs have caused people and businesses to reevaluate their purchasing power. AMZN missed forecasted expectationsAmazon released revenue predictions far below those of Wall Street, warning that consumer spending was in "uncharted waters," sending its shares down 10% on Friday and adding to the air of doom prevailing in the internet industry. The e-commerce and cloud computing company, which has emerged as a contemporary economic barometer for the US, predicted that fourth-quarter revenues, which include the crucial holiday shopping season, would range between $140 billion and $148 billion. According to S&P Capital IQ, that was as much as $15 billion less than the $155 billion analysts had predicted. Analysts had predicted $5 billion in operational profitability for the fourth quarter, but Amazon said it would be between $0 and $4 billion.Rising inflation and energy costs, according to Amazon's chief financial officer Brian Olsavsky, have caused people and businesses to reevaluate their purchasing power. For many consumers' budgets, this is unknown territory, he added. After Alphabet, the owner of Google, Meta, the parent company of Facebook, and Microsoft alarmed Wall Street with warnings of slower growth and more costs, it was the latest Big Tech company to let investors down this week.Amazon announced third-quarter revenues of $127.1 billion, up 15% from the prior year but slightly below analysts' forecasts. With a $1.1 billion increase in non-operating revenue from its share in electric vehicle manufacturer Rivian, net income decreased to $2.9 billion from $3.2 billion a year earlier.The third quarter saw lower than anticipated sales growth and poorer margins for Amazon's cloud business, which for much of the year had helped to counteract deterioration in retail. For the first time since the year 2020's conclusion, cloud revenue increased by less than 30%, rising by 28% to $20.54 billion.Jassy's first full year in leadership would come to an end if the fourth quarter was poor. When Amazon's problems began to worsen in July 2021, he succeeded company founder Jeff Bezos. AMZN Price ChartSources: finance.yahoo.com, ft.com
Chile's Lithium Nationalization and the Global Trend of Resource Nationalism: Implications for EV Supply Chains and Efforts to Strengthen Battery Metal Supply

Gold On Course To Increase For The Second Consecutive Week, Brent Crude Likely Facing Supply Tightening, Cotton Futures Touching 22-month Lows

Rebecca Duthie Rebecca Duthie 28.10.2022 17:01
Summary: Gold on course to increase for the second consecutive week. Brent crude futures expected to close the week higher. Stronger dollar and continuing demand worries driving cotton down. Gold supported by weak US economic statistics Taking advantage of steep drops in the dollar and Treasury yields due to rising predictions that the US Federal Reserve may pause the pace of rate hikes later in the year, gold prices remained stable over $1,660 an ounce on Friday and were on course to increase for the second consecutive week. Although markets started to predict that the Fed would become less aggressive in December due to worries about overtightening, the Fed is largely expected to deliver its fourth consecutive 75 basis point rate increase in November. Such forecasts were bolstered by a deluge of weak US economic statistics earlier this week, but the third quarter's better-than-expected US GDP figures provided a counterbalance. Investors continued to be wary of inflation worries, which might trigger another surge in the currency and Treasury yields. Kristalina Gerogieva, managing director of the IMF, urged central banks to keep raising interest rates to combat inflation until they reached a "neutral" level. Gold Dec ‘22 Futures Price Chart Brent Crude Oil facing potential supply tightening Despite easing toward $96 per barrel on Friday, Brent crude futures were still expected to close the week higher due to a tightening supply forecast, record US exports, and a steep decline in the value of the US dollar. Last week, the US exported a record quantity of oil and fuel, despite the fact that local fuel markets experienced seasonal lows in fuel stockpiles, which hampered the forecast for supply. A dramatic decline in the value of the dollar helped to support oil prices as well by lowering the cost of commodities with US dollar prices for consumers using other currencies. Along with snapping a four-month losing streak, the OPEC+ plan to reduce output by 2 million barrels per day starting in November and the intensifying Western sanctions on Russian oil are both driving up oil prices in October. Investors continued to be wary in the meanwhile as the prognosis for demand remained gloomy due to escalating inflation, rising interest rates, and growing recessionary threats. Brent Crude Futures Price Chart Cotton touch 22-month lows The price of cotton futures fell to a 22-month low of 75.1 USd/Lbs under the strain of a stronger dollar and continuing demand worries brought on by difficult economic conditions. According to the most recent estimate from the US Department of Agriculture, both acreage and output grew, and worldwide cotton production is predicted to reach 118.1 million bales in 2022–23, a 2% rise over the previous year. China, Brazil, and India contributed more to the increase in output than the United States and Pakistan did to the decrease. Cotton Dec ‘22 Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
The Euro May Attempt To Resume An Upward Movement

Dovish Comments From ECB President Christine Lagarde Sparked Speculation (EUR/USD, EUR/GBP), PCE Missed Market Expectations (GBP/USD)

Rebecca Duthie Rebecca Duthie 28.10.2022 16:48
Summary: USD's decline has been substantially exaggerated. Weak UK economic fundamentals once again take center stage. The Pound to Dollar exchange rate stayed robust near the week's highs. EUR left weak against USD The market is reflecting mixed signals for this currency pair. Italian inflation for October topped forecasts, while Spanish GDP underperformed on all YoY and QoQ indicators, leaving the euro weak against the USD. Italy and France started the morning. German GDP came in at 1.2% and 0.3%, respectively (see economic calendar below), giving the euro a modest boost. The country's strong performance, according to the GDP report, was primarily ascribed to private consumption spending, although I think decreasing energy prices may have had some positive impact on the final result. Following the decision, ECB President Christine Lagarde's comments sparked speculation that future large rate increases from the bank would not be final. According to her, the rate change will be decided "meeting by meeting." This is true even while inflation is quite high. If the past 24 hours give any indication, the US Dollar's decline has been substantially exaggerated. During the Asian session, there has been a minor easing. EUR/USD Price Chart Euro heavily sold in the wake of ECB announcement The market is reflecting bearish signals for this currency pair. Although the Pound to Euro exchange rate has recovered from September's losses, Rabobank estimates indicate that as weak UK economic fundamentals once again take center stage in the months to come, recent gains may be partially reversed. The euro was heavily sold after the European Central Bank's policy announcement on Thursday, but the pound sterling held close to its October high against the euro on Friday. However, the most recent forecast review from Rabobank implies that this rebound may already be on borrowed time. EUR/GBP Price Chart GBP/USD remained near weeks highs The market is reflecting mixed signals for this currency pair. After the Federal Reserve's (Fed) preferred gauge of inflation fell short of expectations and did nothing to convince the market to start bidding again for the greenback ahead of next Wednesday's interest rate decision, the Pound to Dollar exchange rate stayed robust near the week's highs. Since the Fed prefers PCE price indices as an indicator of inflation, it might be significant to Federal Open Market Committee members next week since the Core PCE price index increased at an annualized rate of 5.1% last month rather than the 5.2% experts had predicted. GBP/USD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
ECB press conference brings more fog than clarity

Elon Musk Closes Twitter Deal, Apple Reported Record Revenue, ECB May Turn Dovish

Rebecca Duthie Rebecca Duthie 28.10.2022 16:32
Summary: Elon Musk has finalized his $44 billion plan to take Twitter private. Record revenue was announced from APPL. Investors have been persuaded that the ECB may make a dovish turn. Elon Musk Closes $44bn twitter deal After months of legal fighting between the richest man in the world and the social media site, Elon Musk, he has finalized his $44 billion plan to take Twitter private, putting an end to one of the most high-profile and dramatic buyout sagas in recent memory. The billionaire businessman removed Twitter's chief executive, Parag Agrawal, and chief financial officer, Ned Segal, as soon as he assumed control on Thursday night. According to one source, Sean Edgett, Twitter's general counsel, and Vijaya Gadde, the company's head of law, policy, and safety, were also fired. Musk had first agreed to purchase Twitter for $54.20 per share in April. A few months later, he filed a lawsuit against the San Francisco-based business to cancel the agreement, claiming that the platform had misled investors and regulators about false accounts and cyber security. In an effort to pressure the billionaire to complete the transaction, the social media business retaliated and countersued, setting up a contentious court dispute and discovery process. Musk declared he was prepared to purchase the business at the agreed-upon price provided the legal action was withdrawn just weeks before the two were scheduled to square off in a Delaware court over the matter. The sale was finalized the day before, according to a regulatory filing from the New York Stock Exchange on Friday morning, and stock trading had been halted in anticipation of Twitter's delisting on November 8. In an effort to create a "super app" that combines messaging, payments, and commerce, Musk has pledged to reduce Twitter's workforce and operating expenses while fostering product innovation. Elon Musk has completed his $44 billion deal for Twitter. The company's CEO and CFO were terminated and escorted out of headquarters https://t.co/nsktVzuCtn pic.twitter.com/SBWTIzqPnx — Reuters (@Reuters) October 28, 2022 Apple (APPL) reports record earnings On Thursday, Apple (AAPL) released financial results for the fourth quarter of its fiscal year. Record revenue was announced, but important categories including the iPhone and services fell short of analyst projections. Actual revenue was $90.15 billion compared to the estimated $88.64 billion, and EPS came in at $1.29 vs the anticipated $1.26. Although the Mac sales and revenue beats are positive, the iPhone and iPad numbers may worry investors. Apple has recently taken a beating amid rumors that the company is reducing the manufacturing of the Phone 14 Plus and as it navigates a challenging week for tech in general. Like most tech companies, Apple is experiencing foreign exchange challenges brought on by a strong dollar, which is reducing overall income. A hawkish Fed, persistent inflation, and a consumer downturn that has lowered expectations for the forthcoming holiday season are all exerting pressure on tech businesses like Apple. $AAPL shares remain steady after reporting record Q4 revenue.“The Apple results were mixed, they were relatively strong enough,” @juleshyman says. “But not enough to salvage the whole tech earnings season and reassure investors.” pic.twitter.com/92fYGKeYYT — Yahoo Finance (@YahooFinance) October 28, 2022 ECB could be turning more Dovish Investors have been persuaded that the European Central Bank is about to make a dovish turn because of what appear to be merely minor changes in tone from Christine Lagarde and the governing council she chairs. In a post-council meeting press conference, the ECB president acknowledged that the eurozone was likely headed for a recession, which had long been assumed by the majority of economists. The markets quickly interpreted this to mean that the region's rate-setters would scale back the pace of rate increases. Following Lagarde's news conference on Thursday afternoon, interest rates on government borrowing plunged, and by day's end, the euro had fallen below parity with the dollar, wiping off some of its previous gains. Investors broadly perceived such e statements as indicating that the ECB will decrease its next rate increase to 0.5 percentage points, and they now believe that by next September, borrowing prices will be a quarter-point lower than they believed prior to the ECB's announcement of its policy. ECB convinces markets it is about to turn more dovish https://t.co/rCLmZ0WPD0 — Financial Times (@FT) October 28, 2022 Sources: finance.yahoo.com, twitter.com, ft.com
EUR/USD Pair: The Bulls Might Remain Inclined To Be Back In Control

German QoQ, YoY Q3 GDP Beat Market Expectations

Rebecca Duthie Rebecca Duthie 28.10.2022 10:32
Summary: Q3 GDP for Europe's largest economy came in higher than expected. The German economy is now predicted to contract by 0.3% in 2023. The initial market reaction in the wake of the release of this data. German QoQ, YoY GDP figures Both the QoQ and YoY Q3 GDP for Europe's largest economy came in higher than expected, beating market expectations. The QoQ reading for German inflation in Q3 came in at 0.3%, beating the market forecast of 0.2%. Q3 YoY GDP, which was originally forecasted at 0.7%, came in at 1.1%. According to a prediction from the Ifo Institute in Munich, the German economy will decrease in 2023, primarily as a result of rising inflation eating away at private consumer spending. According to a statement released by the research firm on Monday, the biggest economy in Europe is now predicted to contract by 0.3% in 2023 rather than grow by an expected 1.6% in 2022. As energy suppliers raise prices to offset rising procurement costs brought on by decreasing Russian gas supplies, inflation is expected to increase to 9.3% in 2023, with the number peaking at about 11% in the first quarter in particular. Despite the GDP reading, which in theory should indicate bullish signals for the German economy, when compared to Ifo's previous prediction, the forecast is "much" lower. While inflation expectations were elevated by 6 percentage points, real GDP estimates were reduced by 4 percentage points. According to Ifo, the German economy will be primarily driven by manufacturing in the ensuing quarters as ongoing supply chain restrictions start to loosen as a result of slowing global growth. An increase in interest rates will also increase the cost of financing for enterprises in the construction industry, which will have an adverse effect on the sector as a whole. Initial market reaction The initial market reaction for the EUR/GBP currency pair saw the Euro weaken against the GBP, and the EUR/USD currency pair also weakened below parity, The DAX Index also dropped in the wake of the release of the GDP data. According to Ifo, the German economy won't "return to normal" until 2024, when growth will be 1.8% and inflation will be 2.5%. Ifo identified a number of risks to its prediction, including changes in energy prices, issues with the supply chain, and limitations on public life brought on by a projected rise in Covid-19 cases. Sources: investing.com
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

European Economy Likely To Be Under Pressure In The Wake Of ECB’s Interest Rate Decision (EUR/USD, EUR/GBP), CAD Suffered Losses This Week (GBP/CAD)

Rebecca Duthie Rebecca Duthie 27.10.2022 17:14
Summary: Fed representative speaks regarding the hazards of potential overtightening. EUR/GBP rose in the wake of ECB interest rate decision. On Thursday, the Canadian Dollar was still the second-best performing currency. European economy likely to experience pressure The market is reflecting mixed signals for this currency pair. The European economy will experience extra pressure from the ECB's interest rate decisions once they rise above this point because firms and families are already feeling the effects of the excessive increases in energy prices. The dollar index (DXY) also formed a double top as a result of comments made by Mary Daly of the Fed regarding the hazards of potential overtightening and the likely transition from 75 bps raises to 50 or 25 boosts in the future. As a result, the index is currently trading approximately 3.5% lower. EUR/USD Price Chart EUR/GBP rose in the wake of ECB interest rate decision The market is reflecting mixed signals for this currency pair. Thursday saw a rise in the exchange rate between the pound and the euro as the European Central Bank (ECB) announced another unusually substantial increase in interest rates and warned that the changing monetary policy settings could soon start to hurt the Eurozone economy. After the ECB increased all of its key interest rates by three quarters of a percentage point for the second time in a row and issued a warning that additional hikes would still be required in the months to come, the euro moved lower against other major peers, notably the pound. EUR/USD Price Chart CAD suffered significant losses Following the Bank of Canada (BoC) decision to decrease the rate at which it raises interest rates in October, which stunned the market and caused many forecasters to reevaluate their prognosis for the Loonie, the Canadian Dollar fell behind other major currencies during the following week. On Thursday, the Canadian Dollar was still the second-best performing currency in the G10 group for the year, but it had suffered significant losses this week against all other currencies save the U.S. Dollar as a result of Wednesday's interest rate decision. GBP/CAD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Agricultural Commodities Markets Are Going To Remain Sensitive To Developments In The Russia-Ukraine War

Platinum Futures, Gasoline Prices Are Declining, Wheat Futures Recovering From 5-week Lows

Rebecca Duthie Rebecca Duthie 27.10.2022 17:04
Summary: Chicago wheat futures were recovering from the five-week low. Gas prices are not far from where they were when Russia invaded Ukraine. Platinum prices have declined by 0.8% in 2022. Wheat futures demand prospects look dim In response to concerns over supply and a weaker dollar, Chicago wheat futures were recovering from the five-week low of $8.3 set on October 25. The Rosario grain exchange reduced its forecast for the 2022–23 harvest by 1.3 million tonnes to 13.7 million due to droughts in Argentina. In the interim, Ukrainian authorities said that strikes by Russia prevented Ukrainian ports from operating to their full capacity, which was reduced to 25%. The exporter will be able to ship wheat and free up much-needed silo storage space, the UN continued to express optimism regarding the expansion of the safe trade corridor for Ukrainian Black Sea ports. Demand indicators remained disappointing in the interim. The latest indication of weaker international demand came from data from the United States, which showed a 46% weekly fall in exports for the week ending October 21. Additionally, according to Chinese customs figures, 370 000 tonnes of wheat were imported in September, which is a 40% decrease from the same month last year. Wheat Futures Price Charts RBOB Gasoline prices are declining In advance of the midterm US elections, gas prices are declining, relieving pressure on Democrats who are dealing with high fuel prices in crucial swing states and elsewhere across the nation. Since its peak of more than $5 in June, the national average price for a gallon of gasoline has dropped by $1.25, prompting administration officials like White House Chief of Staff Ron Klain to draw attention to the drops. According to Biden officials who regularly review the data, the national average price is currently not far from where it was when Russia invaded Ukraine in late February. Officials from the Biden administration have nonetheless stated in closed-door conversations that the national average should be closer to $3.20. RBOB Gasoline Futures Price Chart Platinum Futures Since the start of 2022, the price of platinum has dropped by 7.67 USD/t oz., or 0.80%, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Platinum Futures Price Chart Sources: bloomberg.com, finance.yahoo.com, tradingeconomics.com
USD/JPY Reaching 130-135? It Seems It Maybe Not Impossible

Credit Suisse Q3 Earnings Missed Market Expectations Sparking Major In-house Changes

Rebecca Duthie Rebecca Duthie 27.10.2022 17:04
Summary: Credit Suisse will cut their investment bank. The company will go to the market to raise capital. Shares were trading at or near record lows. Credit Suisse Q3 Earnings spark major in-house changed In order to restore investor trust and finance a protracted reconfiguration that will result in the elimination of its investment bank and a 9,000-person reduction in headcount, Credit Suisse Group AG decided to turn to investors for a painful multibillion-dollar capital raise. The firm's ambitions to raise 4 billion francs ($4.1 billion) through a rights issue and the sale of shares to investors like the Saudi National Bank caused the stock to fall as much as 16%. By splitting up the advice and capital markets divisions and selling the majority of a trading company to a group headed by Apollo Global Management Inc., it virtually dismantled the investment bank. The actions represent an urgent attempt by Credit Suisse to regain credibility after a string of significant losses and managerial instability destroyed its reputation as one of the most prominent lenders in Europe. Ulrich Koerner, the bank's CEO, and Chairman Axel Lehmann are already being questioned about whether the biggest transformation in the institution's recent history is drastic enough and provides suffering shareholders with enough reward. “The new Credit Suisse will definitely be profitable from 2024 onwards,” Koerner said in an interview with Bloomberg Television’s Francine Lacqua. “We do not want to overpromise and underdeliver, we want to do it the other way around.” As investors processed combined expenses connected to the reorganization of around $6.6 billion and the dilution effect of the share sales, the shares dropped 12% at 1:06 PM in Zurich. With a potential ownership of up to 9.9%, the capital increase may make Saudi National Bank, which is supported by the country's major sovereign wealth fund, one of Credit Suisse's largest shareholders. Given that the shares were trading at or near record lows, bank executives had hoped to avoid raising capital, but after observing the outflow of assets and deposits from rich clients, they ultimately chose to do so in order to strengthen the bank's finances. The bank reported a net loss of 4.03 billion francs for the third quarter and stated that it anticipated a loss for the entire year. The company announced that it will begin cutting 2,700 positions from its employees in the fourth quarter and that by 2025, it expects to have reduced its employment by around 9,000, to 43,000. By that time, it also wants to cut the cost base by 15%, or 2.5 billion Swiss francs. According to analysts at Citigroup Inc., Credit Suisse's 2025 goal of a 6% return on tangible equity "appears to lack ambition." The restructure takes place as a result of third-quarter results that highlighted the difficulties ahead. Wealthy clientele left as the investment bank struggled on. The bank reported a quarterly loss of more than $4 billion, which included an impairment of deferred tax assets associated with the restructuring worth 3.7 billion francs. Through 2024, the transformation will cost an additional 2.9 billion francs. CS Price Chart Sources: finance.yahoo.com, bloomberg.com
Agriculture: Russia's Exit from Black Sea Grain Deal Impacts Grain Prices

USD GDP (QoQ) (Q3) Beat The Markets Expectations by 0.2%

Rebecca Duthie Rebecca Duthie 27.10.2022 14:38
Summary: Markets expected a 2.4% US Q3 GDP. Will the Fed continue its hawkish rhetoric? Market reactions in the wake of the GDP figure. US GDP hit its first positive figure in two quarters The market is expecting US GDP in the third quarter to rise from -0.6% (September release) to 2.4% in the October release. This is the first positive number in two quarters. The actual US Q3 GDP data came in at 2.6%, beating market expectations by 0.2%. The US GDP has beaten the 2.4% GDP value that was forecasted, thus the USD should be supported by this figure. With GDP being the broadest indicator of the economy and the primary indicator of the economy’s health, the US Dollar would benefit from beating the forecasted figure. The market will learn how recent rate hikes have affected the US economy in the third quarter from today's advanced look at US Q3 GDP. Any miss or beat of estimates will change the Fed's narrative regarding future rate hikes. A dismal Meta Platforms forecast is expected to weigh heavily on the tech-heavy Nasdaq as U.S. equities began in a mixed manner on Thursday, ahead of earnings from Apple (AAPL) and Amazon (AMZN) and the first estimate of third-quarter GDP domestic product. Effect on the markets The figures on weekly unemployment claims are also due at the same time and are anticipated to increase slightly from last week as the labor market begins to experience pressure. Hence, the initial market reaction in the wake of the release of the US GDP data is likely to be as a result of the combination of information being released by the United States on Thursday. A GDP figure that beats market expectations is bullish for the currency in question.The initial market reaction showed the movement of the EUR/USD decline, the NASDAQ rose slightly and GBP/USD currency pair weakened as the USD showed signs of strengthening. Sources: investing.com, dailyfx.com,
The EUR/USD Pair Maintains The Bullish Sentiment

ECB Interest Rate Decision Met Market Expectations At 75 Bps

Rebecca Duthie Rebecca Duthie 27.10.2022 14:31
Summary: Markets expected a 75bps increase from the ECB. ECB continues to follow hawkish rhetoric. Initial effect of the decision on the market. ECB interest rate decision re-instils market confidence The ECB decision was released today, and another 75bps increase was anticipated. The widely anticipated increase in the ECB's once-negative deposit rate to 1.25% on Thursday may favor the Euro at the expense of the Pound, the Dollar, and other currencies, according to some analysts. Although these statements and the ECB's other recent interest rate increases have not directly benefited the Euro, policymakers have emphasized in recent appearances that interest rates will need to rise further in the months ahead as double-digit inflation rates become more prevalent in the Eurozone. The ECB met market expectations by rising their interest rates by 75 basis points to 2.00% on Thursday. The ECB have reiterated their intentions to gain control over the soaring inflation rate. Effect of the decision on the market In recent trade, the Pound to Euro exchange rate defied gravity and reached levels close to one month highs. However, this week's recovery will be difficult unless the European Central Bank (ECB) interest rate decision on Thursday convinces the market to abandon its recently increased appetite for the single currency. They cited the UK economy's worsening outlook and risks related to Bank of England (BoE) interest rate policy, despite the fact that ECB policy is also relevant and the bank's interest rate guidance, balance sheet, and prospects for the Eurozone's economy will be more crucial for the pound sterling ahead of the weekend. The EUR/USD pair has already risen over parity and the downtrend from 2022, doing so with a respectable rally. The initial market reaction in the wake of the release of the ECB interest rate decision showed the EUR/USD strengthening and continuing the bullish market sentiment, the EUR/GBP weakened slightly followed by signs of strengthening, The FTSE 100 showed signs of declining. Sources: poundsterlinglive.com, dailyfx.com
This Week's Tesla Stock Split Could Be The Best Moment To Buy The Stock! Twitter Stock Price Plunged!

Credit Suisse To Raise 4bn CHF To Fund Restructure, Tesla Inc. Under Criminal Investigation, Trading Of TWTR Shares Will Be Paused

Rebecca Duthie Rebecca Duthie 27.10.2022 12:37
Summary: Credit Suisse is essentially dismantling the investment bank. EV with self-driving capabilities was involved in many accidents. Musk has until October 28 to complete his $44 billion acquisition of TWTR. Credit Suisse to restructure Credit Suisse Group AG announced a restructure that will result in a multibillion dollar capital raising, thousands of job cutbacks, and the separation of the investment bank, taking the most drastic moves yet to restore the firm. According to a statement released on Thursday, the company intends to raise 4 billion francs ($4.1 billion) by selling shares to investors, including the Saudi National Bank, and through a rights issue. By splitting up the advice and capital markets businesses and selling the majority of its SPG business to Apollo Global Management Inc. and Pacific Investment Management Co., it is essentially dismantling the investment bank. After a string of significant losses and managerial upheaval destroyed Credit Suisse's reputation as one of the most respected institutions in Europe, the makeover is an urgent effort to rebuild trust. Ulrich Koerner, the bank's chief executive officer, and Chairman Axel Lehmann, who were appointed as crisis managers, now have the difficult task of carrying out the largest restructuring in the bank's recent history while attempting to safeguard the wealth management division that will determine its future. Credit Suisse seeks billions from investors in make-or-break overhaul https://t.co/MSy4Q4h7fT pic.twitter.com/e9mg3eUByl — Reuters Business (@ReutersBiz) October 27, 2022 TSLA under criminal investigation The National Highway Traffic Safety Administration (NHTSA) released its initial wave of data on car crashes involving vehicles with autonomous driving systems in June of last year as part of its attempts to increase traffic safety while still encouraging innovation. It came out that a very well-liked electric car with self-driving capabilities was involved in a lot more accidents than was previously thought. Ten months of data were covered in the June report. It showed that when employing fully autonomous capabilities like Tesla's Autopilot, ADAS-equipped vehicles crashed 392 times, with Tesla vehicles accounting for 273 of those collisions. It represents around 70% of the cases. Given this context, it was logical but yet surprising to learn that the Department of Justice is looking into Tesla as part of a criminal investigation. The revelation that the Department of Justice is looking into Tesla as part of a criminal probe made sense given this backdrop, but it was nonetheless unexpected. The Justice Department is looking into possible customer misinformation regarding the functionality and security of the self-driving feature. For the mere reason that Tesla emphasizes in its own materials that the cars are not yet capable of completely autonomous driving, it might be challenging to make any form of claim against the company over excessive promises. Tesla is under criminal investigation in the United States over claims that the company's electric vehicles can drive themselves, three people familiar with the matter said https://t.co/HQh5rvn54u pic.twitter.com/oGo5ZKtWqT — Reuters Business (@ReutersBiz) October 27, 2022 Musk to acquire TWTR by October 28th According to the website of the New York Stock Exchange, trading in Twitter Inc. (TWTR) shares will be paused on Friday because entrepreneur Elon Musk has until October 28 to complete his $44 billion acquisition of the social media platform. Musk, the richest man in the world, visited Twitter's San Francisco offices on Wednesday and implied that he was the company's top executive by changing his profile bio to "Chief Twit." Reuters stated on Tuesday that Musk's attorneys had provided the necessary documentation for the finance pledge to equity investors Sequoia Capital, Binance, Qatar Investment Authority, and others. The closing of the transaction would put an end to Twitter's litigation. Twitter, together with the investors, now anticipate that the transaction will close at the agreed-upon price of $54.20 per share. On Wednesday, the NYSE saw the company's stock close at $53.35 per share. They were trading slightly below Musk's offer price in extended trading, up nearly 1% at $53.90. *TWITTER WILL BE DELISTED FROM THE NYSE ON FRIDAY AFTER MUSK COMPLETES DEAL$TWTR pic.twitter.com/jasBHEMrJp — Investing.com (@Investingcom) October 27, 2022 Sources: twitter.com, investing.com, reuters.com, finance.yahoo.com, thestreet.com
KGL's Strong Q1 Results Raise Earnings Forecasts, But Long-Term Concerns Linger

Harley Davidson (HOG) Q3 Earnings Were Better Than Expected

Rebecca Duthie Rebecca Duthie 26.10.2022 18:01
Summary: The third-quarter results for Harley-Davidson HOG beat expectations. Harley's goals and plans for enhancing operational performance are called Hardwire. Harley stock had lost roughly 2% of its value as of Wednesday's trade. Harley Davidson beat market expectations The third-quarter results for Harley-Davidson HOG +11.15% were better than expected. The business is advancing in optimizing its processes. On Wednesday, Harley (ticker: HOG) announced $1.78 in earnings per share on $1.65 billion in revenues. Wall Street anticipated sales of $1.37 billion and a share price of roughly $1.40. Operating profit margins increased to 20.6% from 14.9% in the third quarter of 2021 and 17% in the second quarter of 2022, respectively. “ Harley-Davidson delivered a strong third quarter with solid growth for both revenue and operating income, aligned to our Hardwire strategic initiatives,” said CEO Jochen Zeitz in the company’s news release. “We are reaffirming our outlook for the year, and as we approach our 120th anniversary that we will be celebrating in our hometown Milwaukee and around the world.” Harley's goals and plans for enhancing operational performance are called Hardwire. In 2022, Harley anticipates a 20% to 25% increase in operating profits. That suggests operational revenue of around $1 billion in 2022. Currently, Wall Street is simulating around $870 million. Harley has generated operating profit of roughly $900 million so far this year. There is now roughly $100 million left to spend in the fourth quarter. Wall Street presently forecasts an operating profit for the time period of roughly $32 million. Harley stock had lost roughly 2% of its value as of Wednesday's trade, less than the corresponding 19% loss of the S&P 500. Following earnings, options markets predict that shares will change by about 8%, either up or down. In response to the last four quarterly reports, shares have changed by about 7%, either up or down. Over that time, shares have increased four times and decreased once. HOG Price Chart Sources: finance.yahoo.com, barrons.com
Securing Battery Metal Supply Chains: Challenges and Opportunities Amid the Global Energy Transition

US WTI Crude Stockpiles Rising, Palladium Futures, Coffee Futures Approaching 1-year Lows

Rebecca Duthie Rebecca Duthie 26.10.2022 18:00
Summary: Market concerns about a worldwide recession persisted. Palladium prices have increased by 2.27% since the start of 2022. Coffee prices are driven down by a stronger dollar and an improving crop outlook. WTI Crude Oil futures falling Following a near 1% increase in the previous session, WTI oil futures on Wednesday dropped below $85 per barrel as an industry report indicated a significant build in US crude stockpiles and market concerns about a worldwide recession persisted. US crude stockpiles increased by approximately 4.5 million barrels last week, according to data from the American Petroleum Institute, greatly above forecasts for a boost of only over 200,000 barrels. Investors also were worrying about the possibility of a worldwide economic downturn, as this week's weak US data suggested that the recent, abrasive monetary tightening was already having an effect on the economy. As investors considered the OPEC+ plan to cut output by 2 million barrels from November as well as the impending European Union ban on Russian crude in December, oil prices stayed in a sideways trading range for the past five sessions. WTI Crude Oil Futures Price Chart Palladium Futures up overall in 2022 Increased 42.98 USD/t oz for palladium. Trading on a contract for difference (CFD) that tracks the benchmark market for this commodity indicates the price has increased by 2.27% since the start of 2022. Palladium Dec ‘22 Futures Price Chart Coffee futures weighed down by strong dollar Arabica coffee futures on ICE continued to decline, approaching lows not seen in more than a year, as a result of a stronger dollar and an improving crop outlook in top producer Brazil as a result of reports of plentiful rain that may have accelerated flowering for the crop of coffee that will be harvested in 2019. The most recent statistics revealed that on October 13th, ICE-certified arabica stocks reached a new 23-year low of 408,419 bags. Additionally, the largest consumer region in the globe, Europe, is concerned about the demand for coffee due to continued economic issues, according to investment bank Itau BBA. Coffee Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Hungary's Central Bank to Maintain Base Rate at 13%, Eyes on Effective Rate Amid Forint's Performance

ECB Interest Rate Decision Due Tomorrow (EUR/USD, EUR/GBP), BoC Cash Rate Boost Missed Market Expectations (GBP/CAD)

Rebecca Duthie Rebecca Duthie 26.10.2022 18:00
Summary: The euro has been steadily strengthening against the dollar over the past few weeks. The Pound has recovered from all of its post-budget losses. Pound to Canadian Dollar exchange rate rose to a four-month high. EUR/USD back above parity The market is reflecting bullish signals for this currency pair. The euro has been steadily strengthening against the dollar over the past few weeks as dovish wagers against the Fed have increased, supported by weaker natural gas prices and U.S. economic statistics. The ECB meeting tomorrow, when they will release their interest rate, will be the main event for the EUR this week. Although a 75 bps rate hike is presently priced in by the financial markets with about 93% certainty, the post-announcement press conference will be crucial for determining the short-term directional bias. Any hawkish slant that may be there in the ruling could put parity to another test. The euro increased by more than 5.3% from its yearly low, and a breach of the 2022 downtrend now raises the possibility of a greater rise in the coming days. However, the advance is now getting close to the first significant resistance barrier, which will be the first true test of the bulls' tenacity in this rebound from multi-decade lows. Prior to the European Central Bank's (ECB) interest rate announcement, these updated objectives and invalidation levels are what matter on the technical price charts for the EUR/USD. EUR/USD Price Chart Pound sterling slightly recovered The market is reflecting mixed market signals for this currency pair. The Pound has recovered from all of its post-budget losses, but some strategists believe it could still fall apart before the year is out. They have advised clients to sell Sterling against the Dollar after it rises back above 1.15 because there is potential for it to drop as low as 1.08 in the coming months. Following the parliamentary installation of former chancellor Rishi Sunak as prime minister, which ended the Conservative Party's leadership election, and as risk appetite seemed to increase on global markets, the pound gained versus a number of other currencies throughout the first half of the week. The problem for the pound is that none of this does anything to change the bleak picture for the UK economy, and risk appetite would quickly decline if the Fed confirmed next Wednesday that its hawkish policy position will not change. EUR/GBP Price Chart BoC boosted cash rate The Bank of Canada (BoC) boosted its cash rate less than economists and markets had anticipated for October, but it nonetheless issued a warning that additional interest rate hikes are likely in the months ahead. As a result, the Pound to Canadian Dollar exchange rate rose to a four-month high. In light of downgrades from prior expectations of 3.5% and 1.75%, respectively, the BoC revised its forecasts for Canadian GDP growth, which is now estimated to come in around 3.25% this year before slipping below 1% next year. The projection for 2024 remained at 2%. The annual consumer price index inflation rate is anticipated to decline back to 3% by the end of next year before reverting to the 2% objective by the end of 2024, according to the BoC's inflation estimates, which have remained virtually unaltered. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Declines At The Close Of The New York Stock Exchange, The Drop Leaders Were Nike Inc Shares

NASDAQ Futures Down More Than 1.5%, Xi Jinping Pushes Out Youth League Members From Politburo, Spotify Users Up 20% YoY

Rebecca Duthie Rebecca Duthie 26.10.2022 12:15
Summary: NASDAQ weighed down by poor MSFT & GOOGL earnings. Xi's years-long campaign to destroy the faction was successful. Spotify surpassed expectations in terms of both paid and free user growth. NASDAQ down more than 1.5% on Tuesday On Wednesday, Nasdaq futures dropped more than 1% after poor financial statements from tech titans Alphabet (NASDAQ:GOOGL) and Microsoft prompted losses at other megacap firms and fueled concerns about slowing economic growth. While Alphabet, the parent company of Google, reported disappointing ad sales and warned of a slowdown in advertising expenditure, Microsoft Corp (NASDAQ:MSFT) reported its lowest sales growth in five years and anticipated second-quarter revenue below Wall Street estimates. In premarket trade, the businesses' shares plummeted 5.7% and 6.0%, respectively, while those of Apple (NASDAQ:AAPL) and Amazon.com (NASDAQ:AMZN), who are expected to release earnings this week, dropped 3.7% and 0.6%. The disappointing results come after Snap Inc. (NYSE:SNAP) issued a warning last week over sluggish ad demand and a string of mixed earnings reports, which have added to concerns that the economy is being negatively impacted by decades-high inflation and ad-hoc interest rate hikes to combat it. ⚠️BREAKING:*NASDAQ 100 FUTURES TUMBLE 1.8% AS GOOGLE, MICROSOFT SINK AFTER EARNINGS$QQQ $GOOGL $MSFT pic.twitter.com/2rd4B4bJjP — Investing.com (@Investingcom) October 26, 2022 China’s new president pushes out youth league members The three most notable absences from China's new Communist Party leadership have one thing in common: they all rose through the ranks of the Youth League and were regarded as representatives of a once-dominant clique, whose influence Xi Jinping has now successfully quashed. Even the larger Central Committee was bypassed as Xi installed supporters in key party positions during the recent twice-a-decade leadership reshuffle. Premier Li Keqiang and Vice Premier Wang Yang, both 67 and young enough to be re-appointed to the elite seven-member Politburo Standing Committee, were left out. Hu Chunhua, a fellow vice premier and former high flyer who, at 59, had been considered a prospect for premier and, at one point, even a potential future president, failed to make it to the 24-man Politburo. Analysts said the omissions demonstrate Xi's years-long campaign to destroy the faction was successful. China's Xi deals knockout blow to once-powerful Youth League faction https://t.co/g47pd77mil pic.twitter.com/uqSDoVgG2g — Reuters (@Reuters) October 26, 2022 Spotify up 20% on Users Spotify surpassed expectations in terms of both paid and free user growth in the third quarter, pointing to the region's strength in particular. A net addition of 23 million members, or 20% more than Spotify's previous projection, brought the total number of monthly active users (MAUs) to 456 million, which is the company's highest Q3 growth to date. The number of Spotify Premium subscribers increased to 195 million, up 7 million during the time (about 1 million more than expected) and 13% annually. Ek stated on the earnings call that Spotify is considering increasing the cost of its U.S. subscription plans in response to price increases by YouTube Premium and Apple Music. “[I]t’s something we will [discuss] with our label partners,” he said. “I feel good about this upcoming year, and what it means about pricing for our service.” Spotify (SPOT) reported a quarterly loss of $0.99 per share vs the $0.88 loss that the Zacks Consensus Estimate had predicted. This contrasts with a loss of $0.48 per share in the prior year. These numbers have non-recurring expenses taken into account. This quarterly report shows a -12.50% profits surprise. This music streaming service operator surprised analysts by posting a loss of $0.91 per share during the most recent quarter when it was anticipated that it would lose $0.68, a difference of -33.82%. The management's remarks on the earnings call will be largely responsible for determining if the stock's current price movement based on previously revealed numbers and anticipated future earnings can be sustained. Compared to the S&P 500's -20.3% decrease since the start of the year, Spotify share prices have fallen by around 59.6%. Spotify reaches 456M total monthly users in Q3, up 20% YoY and topping expectations https://t.co/vRe14ATA7s via @Variety CEO also said subscribers can expect price hikes for the service sometime in 2023. $SPOT shares are down 5% in after market trading. — Yahoo Finance (@YahooFinance) October 25, 2022 Sources: finance.yahoo.com, twitter.com, reuters.com, investing.com
Energy Companies Will Likely Reveal Another Excellent Quarter

General Electric (GE) Cash Goal Delayed In The Wake On Supply Chain Issues - According To CEO

Rebecca Duthie Rebecca Duthie 25.10.2022 18:45
Summary: GE is on pace to reach the low end of its projection due to "external pressures" like inflation. 27% increase in aerospace sales. General Electric (GE) Q3 Earnings The industrial group's cash flow rebounded in the second quarter thanks to GE's aerospace business, but the company issued a warning that its working capital would be put under strain as it protected its clients from the full effects of supply chain disruptions for the remainder of the year. After GE separated its healthcare and energy businesses, Larry Culp, the company's chief executive, said the group was adhering to its forecast that full-year adjusted profits per share would range between $2.80 to $3.50 per share. With the exception of cash, where delayed renewable energy orders and the anticipated losses to working capital would "push out," or postpone, around $1 billion in free cash flow to a later date, GE was on pace to reach the low end of its projection due to "external pressures" like inflation. Before Tuesday's release, analysts' consensus projections for full-year earnings had already decreased to $2.80 per share from $3.20 three months prior when GE issued a warning about the effects of lockdowns in China and the war in Ukraine. A 27% increase in aerospace sales drove a 5% increase in GE's top line, and adjusted revenues of $17.9 billion exceeded analysts' forecasts of $17.6 billion. As a result of supply chain delays, services revenues in the aerospace industry increased by 47% while commercial engine deliveries decreased. According to GE, its strategy to divide into three publicly traded firms by 2024 with a focus on healthcare, energy, and aviation is still on track. As it advanced toward the three-way split, it claimed on Tuesday that it incurred "separation costs" of roughly $200 million in the second quarter. Culp said he was still optimistic that the plan will increase GE's worth in the long term when he made his remarks the same day that 3M revealed intentions to separate its own healthcare division. This month, GE made the following announcements: its healthcare division would be spun off early next year under the name GE HealthCare; its energy division would be rebranded as GE Vernova when it goes public in 2024; and Culp would oversee the remaining aviation division, which will be known as GE Aerospace. According to GE, the effects of inflation pressures would result in $3 billion in healthcare earnings for the entire year. It further stated that it no longer anticipated a "step up" in earnings at its renewable energy company in the second half of the year, blaming "paralysis in Washington" for a failure to meet expectations for the onshore wind turbine market.
Solid Wage Growth in Poland Signals Improving Labor Market Conditions

ECB Expected To Raise Interest Rates By 75bps (EUR/USD), Rishi Sunak Becomes Next U.K Prime Minister (GBP/AUD, EUR/GBP)

Rebecca Duthie Rebecca Duthie 25.10.2022 18:44
Summary: The European Central Bank is predicted to boost rates by 75 basis points. Rishi Sunak warns of a difficult economic outlook ahead. USD retreated on Tuesday The market is reflecting bullish signals for this currency pair. In order to control the high inflation that was shown to be 9.9% year-over-year last week, the European Central Bank is predicted to boost rates by 75 basis points. A channel that dates back to February is putting a major barrier in the way of the EUR/USD. Since its creation, it has proven to be a very trustworthy structure, and until it is no longer useful, it will be the major reference. After the dollar reached its peak, equities appear to have bottomed out on the basis of CPI, and now bonds appear to have reached the end of their capitulation phase. This should temporarily deflate the dollar and place some of its energy into other assets. Since it is just being used as a recovery trade, there is a chance that it could collapse suddenly. EUR/USD Price Chart GBP lost early gains in wake of new prime minster The market is reflecting bearish signals for this currency pair. This week saw a solid start for the pound, but it was unable to continue its upward trend when former chancellor Rishi Sunak was named the next prime minister-designate after the Conservative Party leadership contest, which will have a major impact on the pound and the UK economy going forward. After former Prime Minister Boris Johnson withdrew from the race for the position of Prime Minister, leaving former Chancellor Rishi Sunak on course for a coronation that is expected to produce the UK's fifth Prime Minister in the past six years on Tuesday, sterling increased against most major currencies to start the new week. The Pound, however, quickly lost its early gains as newly-elected Prime Minister Rishi Sunak warned of impending economic hardship and difficult choices involving the public finances in a speech to parliament. The S&P Global PMI surveys that indicated a deepening recession in the UK's manufacturing and services sectors in October followed closely behind all of this. EUR/GBP Price Chart Tuesdays market was favorable for riskier assets A thicket of technical resistances that could keep Sterling contained below roughly the 1.8000 level in the coming days has slowed the recovery from the post-referendum lows plumbed in late September, despite the Pound to Australian Dollar exchange rate remaining close to six-month highs in recent trade. Tuesday's market was favorable for riskier assets, as sterling outperformed all other major currencies. However, the Pound to Australian Dollar rate was unable to move through a Fibonacci retracement level at 1.7962 on the charts and its 100-week moving average at 1.8047. GBP/AUD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
NGAS Prices Are Close To 7-Month Lows, Cotton Futures Touching December 2020 Lows, Gold Weighed Down By Inflationary Pressures

NGAS Prices Are Close To 7-Month Lows, Cotton Futures Touching December 2020 Lows, Gold Weighed Down By Inflationary Pressures

Rebecca Duthie Rebecca Duthie 25.10.2022 14:00
Summary: Prices have dropped about 60% in the past nine weeks. Persistent demand concerns and rising interest rates causing cotton to decline. Investors await further information on the direction of US Fed monetary tightening. NGAS rose during the 4th week of October On the assumption that LNG shipments would rise as a result of the conclusion of maintenance outages at plants like Berkshire Hathaway Energy, Cove Point LNG, and Freeport LNG, US natural gas futures were up in the fourth week of October. Nevertheless, due to projections of lower weather-driven demand, record domestic production levels, and decreased LNG exports that allowed utilities to inject more gas into storage, prices have dropped about 60% in the past nine weeks and are still very close to seven-month lows. Below Refinitiv's forecast on Friday, the average US gas demand, including exports, is anticipated to increase this week. In the meantime, Lower 48 US states have seen an increase in average gas production, rising to 99.5 bcfd so far in October from a record 99.4 bcfd in September. According to the EIA data, US utilities added more gas than anticipated (111 bcf) to storage last week, well exceeding the 91 bcf that was injected during the same week last year and the 73 bcf that was added on average over the previous five years (2017–2021). NGAS Nov ‘22 Futures Price Chart Cotton supply and demand prospects are falling Due to persistent demand concerns and rising interest rates, which strengthened the currency and reduced the appeal of commodities priced in US dollars, cotton futures fell to a level not seen since December 2020. On the supply side, however, an optimistic report from the US Department of Agriculture provided some support for the fiber. In light of the ongoing uncertainty on the extent to which unfavorable weather conditions, such as drought and heavy rain, may reduce output in top producer Texas and other states for the 2022–2023 season, the USDA has lowered its outlook for domestic supplies. Cotton Dec ‘22 Futures Price Chart Gold weighed down by inflation worries After swinging wildly in the previous two sessions, gold prices stabilized near $1,650 an ounce on Tuesday as investors carefully awaited further information on the direction of US Federal Reserve monetary tightening. Fed officials are likely to take into account a lesser increase in December amid worries about overtightening after delivering a widely anticipated 75 basis point rate boost in November, the WSJ reported on Friday. Such a view was bolstered by data showing that private sector activity in the US shrank for the fourth consecutive month in October, indicating that the economy is already feeling the effects of tighter financial conditions. Investors continued to be wary of inflation worries, which might trigger another surge in the currency and Treasury yields. Amid increased political and economic unpredictability throughout the world, markets also maintained a strong position in the dollar as a safe-haven asset and as an alternative to gold. Gold Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Chinese Renminbi Hits Lowest Level In 15 Years, Transfer Of UK PM Status, EU Stocks Supported By Potentially Dovish Fed, Bitcoin Forecast

Rebecca Duthie Rebecca Duthie 25.10.2022 13:00
Summary: The value of China's currency has decreased 13% so far this year.  U.S. economy shrank for a fourth consecutive month.   Chancellor Rishi Sunak was named the next prime minister. Bitcoins new price objective set at $30,000. The Renminbi is crashing The value of the Chinese yuan against the dollar has fallen to its lowest level since 2007 as worries over President Xi Jinping's choice of a more hardline leadership team and the weakening economy moved from stock markets to currency markets. A growing interest rate disparity with the US has already hurt the renminbi this year; on Tuesday, it dropped as much as 0.6% to Rmb7.3084 per dollar. The People's Bank of China lowered the midpoint of the currency's trading band to its lowest level since the world financial crisis, which caused the decline.  The value of China's currency has decreased 13% so far this year. The decline on Tuesday came after a sell-off in Chinese stocks that affected markets around the world this week, with the Hang Seng China Enterprises index falling more than 7% on Monday and the Nasdaq Golden Dragons index of major technology stocks falling more than 14%. China’s renminbi has hit its weakest level against the dollar since 2007 following concerns over President Xi Jinping’s appointment of a harder line leadership team and a struggling economy https://t.co/F96TYsSrcE pic.twitter.com/8niDscsIu5 — Financial Times (@FinancialTimes) October 25, 2022 Rishi Sunak takes over from Truss This week saw a solid start for the pound, but it was unable to continue its upward trend when former chancellor Rishi Sunak was named the next prime minister-designate after the Conservative Party leadership contest, which will have a major impact on the pound and the UK economy going forward. After former Prime Minister Boris Johnson withdrew from the race for the position of Prime Minister, leaving former Chancellor Rishi Sunak on course for a coronation that is expected to produce the UK's fifth Prime Minister in the past six years on Tuesday, sterling increased against most major currencies to start the new week.  The Pound, however, quickly lost its early gains as newly-elected Prime Minister Rishi Sunak warned of impending economic hardship and difficult choices involving the public finances in a speech to parliament.  Follow the latest developments as Rishi Sunak takes over from Liz Truss as UK prime minister https://t.co/pEjylJrgRO — Bloomberg (@business) October 25, 2022 EU Stocks supported by potentially dovish fed While anxiety over China's economy continued to weigh on Asian markets, European stocks climbed in early trade on Tuesday as investors took heart from indications that the U.S. Federal Reserve could scale back its rate increases. Data released on Monday revealed that the U.S. economy shrank for a fourth consecutive month. This suggests that the Fed's rate hikes have weakened the economy, which in turn has fueled optimism that the central bank may start to moderate the pace of the increases.  The projected Fed rate peak has decreased slightly from over 5% early last week to around 4.93%. The European stock market's mood was also helped by certain profit results that exceeded forecasts, with Swiss bank UBS (UBSG.S) among those that did so. However, the biggest bank in Europe, HSBC, announced a 42% decline in third-quarter profit, which caused a 4% decline in its share price (.HSBA.L). European stocks up as investors see signs Fed could slow rate rises https://t.co/a5VwuwKWFZ pic.twitter.com/ONhjztqvLs — Reuters (@Reuters) October 25, 2022 Bitcoin Forecast revised upwards to $30,000 In the coming month, Bitcoin "will break out dramatically," with a price objective of $30,000.  Michal van de Poppe, the founder and CEO of the trading company Eight, made that most recent forecast. On October 25, Van de Poppe tweeted his support for the analysts who are predicting a rise in the price of bitcoin. BTC/USD is now characterized by a notable lack of volatility, but there are growing indications that the sideways trend is about to undergo a significant change.  Popular analyst TechDev and others have confirmed that Bitcoin's Bollinger Bands versus the Nasdaq are the tightest in history, which all but guarantees an explosive move to come. “Market looking good for a last leg up. Higher highs and higher lows on ltf and demand being moved up,” he tweeted.   Analyst puts Bitcoin price at $30K next month with breakout due - https://t.co/IKtVBdXcef — Investing.com News (@newsinvesting) October 25, 2022 Sources: twitter.com, cointelegraph.com, reuters.com, ft.com, investing.com, poundsterlinglive.com
The Markets Still Hope That The Fed May Consider Softer Decision

ECB Expected To Raise Interest Rates By 75bps On Thursday (EUR/USD, EUR/GBP), UK & US Have Conflicting Economic Outlooks (GBP/USD)

Rebecca Duthie Rebecca Duthie 24.10.2022 18:55
Summary: The ECB interest rate decision is unlikely to have much impact on the Euro. The markets Reaction to the ECB interest rate decision on Thursday, could be positive for the GBP. Sterling increased significantly from the market's opening. Global Eurozone PMI Composite Output Index decreased The market is reflecting bullish signals for this currency pair. According to the 'flash' figure, the seasonally adjusted S&P Global Eurozone PMI Composite Output Index decreased from 48.1 in September to 47.1 in October. The indicator indicated that business activity in the eurozone has fallen for a fourth time in a row. The most recent result was the lowest since April 2013 when pandemic numbers were excluded. A 75bp increase is already anticipated by the market for the meeting on Thursday, although it is unlikely to have much of an impact on the euro. The Eurozone's generally dismal outlook is unlikely to change as today's data strengthen recessionary fears. It is highly challenging to argue for a halt in rate increases as long as inflation stays high, with ECB Chief Economist Phillip Lane saying the bank views the neutral rate as being just above the 1-2% range. If Lane is right, more rate increases would be coming for the zone, which theoretically might hasten a recession. EUR/USD Price Chart GBP supported by Boris Johnson being turned away from PM The market is reflecting bullish signals for this currency pair. The Pound to Euro exchange rate started the new week on a positive note, but it might find it difficult to maintain Monday's gains far beyond the 1.15 level unless this Thursday's European Central Bank (ECB) decision causes the market to turn even further away from the euro. On Monday, the pound gained significantly from the opening price after a faction of the ruling Conservative Party was successful in preventing former Prime Minister Boris Johnson from taking part in the most recent process for choosing a new Prime Minister. The market's reaction to the European Central Bank's interest rate decision on Thursday, which is widely anticipated to increase its benchmark interest rate by three quarters of a percentage point for a second consecutive time, will likely have a significant impact on the Pound's performance this week. EUR/GBP Price Chart UK & US contrasting economic outlook The market is reflecting bearish signals for this currency pair. The pound to dollar exchange rate has experienced a recent surge and may increase further in the near future, but it runs the risk of falling as the week progresses and attention shifts back to the increasingly contrasting economic outlooks of the UK and the US. After some members of the governing Conservative Party were successful in preventing former Prime Minister Boris Johnson from taking part in the most recent selection process for the position of Prime Minister, sterling increased significantly from the market's opening, including versus the dollar. GBP/USD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
The Special Edition Of The Saxo Market Call Podcast: The Wild Year Of 2022 For Commodities And What May Be In Store In 2023

Silver Rising Amidst Expectations Of A Dovish Fed, Recession Fears Keeping Brent Crude Oil Low, Corn Futures

Rebecca Duthie Rebecca Duthie 24.10.2022 15:00
Summary: Fed members were growing anxious around rate hikes continuing at the current rate. Investors are becoming more concerned about a worsening economic forecast. Corn has gained 14.98% in 2022. Silver futures rising The price of spot silver was $19.2 per ounce, which is still near to the two-week high of $19.4 per ounce reached on October 21 amid expectations that the Federal Reserve would pause in raising interest rates. According to reports, Fed members were growing more anxious that, should rate hikes continue at the current rate, the central bank might be unduly aggressive, halting the dollar's rally and boosting demand for gold. However, the central bank is anticipated to increase its funds rate by 75 basis points for the fourth time in a row next week. Even though bullion investments are frequently employed as an inflation hedge, holding non-interest-bearing assets becomes more costly as interest rates rise. Silver Dec ‘22 Futures Price Chart Brent Crude Oil remains low amidst recession fears On Monday, concerns over a projected worldwide recession-driven decline in demand kept the price of Brent crude futures below the $92 per barrel barrier. Investors are becoming more concerned about a worsening economic forecast in the face of escalating macro challenges, such as high inflation and tighter financial conditions. Furthermore, according to Chinese customs data, demand from the biggest crude importer in the world remained muted in September as a result of ongoing coronavirus-related limitations and export restrictions on fuel. Even still, amid growing rumors that the oil cartel will further interfere in markets to support prices, OPEC and its allies, including Russia, decided to cut production by 2 million barrels per day in November, the largest reduction since the start of the crisis. Concerns about a shortage of supplies were also heightened by a pending ban on Russian crude by the European Union. Brent Crude Oil Futures Price Chart Corn futures Trading on a contract for difference (CFD) that reflects the benchmark market for this commodity shows that corn has gained 88.85 USd/BU or 14.98% since the start of 2022. Corn Futures Price Chart Sources: tradingeconomics.com, finance.yahoo.com
The release of Chinese GDP, Bank of Canada interest rate decision and more - InstaForex talks the following week (part I)

Broad China Selloff Drags Down Alibaba, European Gas Prices Down, Goldman Sachs Aim To Increase Investment In China, Race For Next U.K PM

Rebecca Duthie Rebecca Duthie 24.10.2022 13:40
Summary: Alibaba stock tanks on Monday. Warmer weather prospects driving NGAS down. Goldman Sachs has established a new joint venture in China. Rishi Sunak on track to become the next U.K Prime Minister. Markets reacted to President Xi Jinping’s re-election As markets reacted to President Xi Jinping consolidating power following his historic confirmation to a third term as head of the second-largest economy in the world, shares of Chinese corporations were falling on Monday. Alibaba (ticker: BABA) lost 12% in premarket trade in the United States. Investors are spooked by President Xi Jinping's increasing control over China's ruling party as he begins a record-setting third term with no apparent successor. In addition, the 14th edition of the 11.11 Global Shopping Festival ("11.11" or "Festival"), which will feature more than 290,000 brands, was formally launched today by Alibaba Group Holding Limited. ⚠️BREAKING:*ALIBABA STOCK PLUNGES 11% IN HONG KONG AMID BROAD CHINA SELLOFF$BABA 🇨🇳🇭🇰 pic.twitter.com/qd0XErYE4B — Investing.com (@Investingcom) October 24, 2022 European gas prices fall as supply prospects improve Following predictions of warmer-than-usual weather for the majority of the continent over the coming week, European natural gas futures fell once again during the opening hours of trading on Monday. Weather predictions that continental Europe will see temperatures this week that are between 4 and 8 degrees Celsius warmer than the seasonal norm, predicting reduced demand and enabling importers to continue injecting excess gas into storage, served as the primary impetus for the decision. ​​In order to relieve the pressure brought on by Russia's effective supply suspension, Europe has been able to fill its storage facilities ahead of schedule thanks to a mild start to the winter heating season and aggressive buying of liquefied natural gas on spot markets. EU storage facilities were 93.4% full as of Sunday, with the two largest markets on the continent, Germany and Italy, posting even higher levels. ⚠️BREAKING:*EUROPEAN GAS PRICES TUMBLE TO LOWEST SINCE JULY ON EASING SUPPLY FEARS 🇪🇺🇪🇺 pic.twitter.com/nGg49xSG1T — Investing.com (@Investingcom) October 24, 2022 Goldman Sachs’ new joint venture In an effort to increase investment in Chinese logistics and infrastructure real estate assets, Goldman Sachs has established a joint venture in China with local logistics firm Sunjade, the U.S. bank announced on Monday. According to a company release, the bank is creating the new subsidiary through its investment arm Goldman Sachs Asset Management, which has made more than $50 billion in real estate-related investments worldwide. The stock structure or the amount of money committed to the platform were not disclosed. The joint venture has invested in a 240,000 square meter project with four institutional-grade warehouse assets in Shanghai and the surrounding region. The joint venture focuses on projects in China's first-tier cities and neighboring areas. The new platform, according to the U.S. bank, will profit from China's growing demand for brand-new, high-quality infrastructure assets, particularly institutional-quality storage space driven by e-commerce and the diversification of industrial requirements supported by government policies. Goldman Sachs launches Chinese infrastructure real estate joint venture https://t.co/HdGJm9ExlH pic.twitter.com/mmj53hkACz — Reuters Business (@ReutersBiz) October 24, 2022 Rishi Sunak on track to be next U.K PM After Boris Johnson withdrew from the race on Sunday night and the markets breathed a sigh of relief, Rishi Sunak, a former chancellor, was on track to become the new prime minister of Britain on Monday. After the likelihood of further imminent political and economic unrest decreased, the value of the pound increased on Monday. Johnson, who was having trouble gaining support, acknowledged that due to divisions among Tory MPs, even if he had won, he could not have governed "effectively." If Penny Mordaunt, the leader of the Commons and his sole remaining competitor, is unable to secure the necessary 100 nominations from Tory MPs, Sunak will take over as the party's leader at 2 p.m. on Monday. Rishi Sunak’s priority should be to restore stability and the UK’s reputation https://t.co/WLKJCGg49X — Financial Times (@FT) October 24, 2022 Sources: finance.yahoo.com, ft.com, twitter.com
This Week's Tesla Stock Split Could Be The Best Moment To Buy The Stock! Twitter Stock Price Plunged!

Tesla Lowers Starting Price Of Selected EV Models

Rebecca Duthie Rebecca Duthie 24.10.2022 13:00
Summary: TSLA stock's six-month fall is sitting around 37.8%. Tesla is lowering the starting price of its Model 3 and Model Y, in China. China, the world's largest EV market, is still constrained by Beijing's "zero COvid" policy. Tesla car model price lowering For the first time this year, Tesla is lowering the starting price of its Model 3 and Model Y cars in China. After lowering pricing for the first time this year for cars built in China, Tesla (TSLA) shares continued to fall on Monday, indicating waning demand in the largest market in the world. Just days after its third quarter earnings report echoed the impact of rising production costs and showed narrowing profit margins for the most valuable automaker in the world, Tesla reduced the starting price of its Model 3 sedan by about 5.3% and cut the cost of its Model Y by 9%. Tesla has been increasing the costs of its American-made cars for much of the year. Tesla reported that due to an increase in input prices and expenses associated with the start-up of new plants in Austin and Berlin, gross automotive margins were 27.9%, a 600 basis point decrease from last year and unchanged from the amount achieved over the second quarter. The company also warned that as it "simplifies operations, reduces costs, and improves the experience of our consumers," full-year deliveries "may fall slightly short of its 50% growth target." In pre-market trading, Tesla shares were marked 3.5% lower to reflect an opening bell price of $207 per share, bringing the stock's six-month fall to about 37.8%. Following record quarterly sales of 343,830 vehicles, Tesla stated last week that revenues increased 56% from the previous year to $21.45 billion, falling short of analysts' expectations of a $21.96 billion total. Demand is anticipated to decline over the course of the year as countries in Europe and North America hold off on major purchases due to recession fears and the continued rise in energy prices, while China, the world's largest EV market, is still constrained by Beijing's "zero COvid" policy. TSLA Price Chart Sources: finance.yahoo.com, thestreet.com
Meta Is Cutting Discretionary Spendings And Extending Its Freeze On Hiring

SNAP Inc Share Price Weighed Down By Disappointing Q3 Earnings Results

Rebecca Duthie Rebecca Duthie 21.10.2022 19:56
Summary: SNAP may need to make even more job cuts. Summary of Snap's difficult quarter. Price of Snap fell by close to 30% on Friday. SNAP Inc Share Price down 30% One veteran tech analyst expressed concern that Snap (SNAP) may need to make even more job cuts than it had first anticipated due to the third quarter's steeper than anticipated decline in business. After the social media platform disclosed that third-quarter sales slowed for the fifth consecutive quarter, the price of Snap fell by close to 30% on Friday morning. Throughout the session, the company's shares dominated Yahoo Finance's "Trending Ticker" page. Snap said at the end of August that it would lay off 1,300 workers, or 20% of its staff. Despite the recent round of major layoffs, Snap continues to blame a slowdown in advertising and Apple's (AAPL) privacy rules for its executional blunders as third-quarter profitability lagged. The business also issued a warning that the fourth-quarter sales trends will deteriorate. Here is a summary of Snap's difficult quarter: Net Sales: $1.13 billion vs an anticipated $1.14 billion, 363 million versus an expected 358 million daily active users, $3.11 as opposed to the predicted $3.17 for average revenue per user Adjusted EPS: $0.08 vs a loss of $0.02 expected, Guidance: Fourth-quarter revenue growth was "flat." "Yes, I mean they do [have to cut expenses more]," Jefferies Analyst Brent Thill mentioned on Yahoo Finance Live. "They just restructured the company. They obviously are in the process of still reducing the workforce by 20%. They may have to go deeper." Shares of the photo-focused social media behemoth Snap (SNAP) are currently 30% down than their 52-week highs after it released poor third-quarter earnings. Additionally suffering from the stock shift are companies like Meta (META), Alphabet (GOOGL) (GOOG), Pinterest (PINS), and others. Some of these businesses are being helped by the fact that U.S. stocks are rising in the first part of Friday's session, but not Snap. SNAP Price Chart Sources: finance.yahoo.com, thestreet.com
The Commodities Feed: First US crude draw this year

Gold’s Rebound In The Wake Of Treasury Note Recovery, WTI Crude Oil Weighed Down By Potential Global Recession, Wheat Futures

Rebecca Duthie Rebecca Duthie 21.10.2022 19:46
Summary: Gold rebounded following the recovery for Treasury notes. WTI crude declines as recession potential increases. Wheat drops amidst prospects of positive negotiations between Russia & The Ukraine. Gold’s price rebound As hitting a three-week low of $1,620 earlier in the session, gold prices rebounded over $1,640 an ounce on Friday, following the recovery for Treasury notes after the dollar retreated from recent highs. The Wall Street Journal said that some Federal Reserve members were unsure about whether following through on the aggressively hawkish stance would result in overtightening, which increased demand for bullion. At its upcoming meeting in November, the US central bank is anticipated to increase its funds rate by 75 basis points for the fourth time in a row, intensifying its fight against rising inflation. The spike in the DXY increased the potential cost of storing non-interest-bearing metal, but gold prices are still not far from the 18-month low of $1,613 set on September 28. Prices for gold are predicted to end the week unchanged. Gold Dec ‘22 Futures Price Chart WTI Crude Oil weighed down by global recession potential WTI oil futures hit a low at $83 per barrel and are now headed for a weekly decline of over 1% as persistent concerns about a potential global recession-driven demand fall are offset by expectations for increased Chinese demand and OPEC+ supply cutbacks. Investors are becoming more concerned about a worsening economic forecast in the face of escalating macro challenges, such as high inflation and tighter financial conditions. Expectations of reducing coronavirus-induced limitations and an uptick in economic activity in top importer China put a floor under prices. Meanwhile, amid growing rumors that the oil cartel could further interfere in markets to support prices, OPEC and its allies, including Russia, agreed to cut production by 2 million barrels per day in November, the largest reduction since the start of the crisis. Concerns about a shortage of supplies were also heightened by a pending ban on Russian crude by the European Union. WTI Crude Dec ‘22 Futures Price Chart Wheat drops amidst prospects of positive negotiations between Russia & The Ukraine In the third week of October, Chicago wheat futures dropped and remained stable month, as success in negotiations for grain trade agreements with Ukraine allayed worries about a supply shortage. According to UN spokesman Dujarric, ongoing negotiations with Moscow over the expansion of the current agreement establishing a trade corridor for Black Sea ports have been positive and productive. This raises hopes that major exporter Ukraine will be able to ship wheat and free up much-needed silo storage space for the current harvest. According to the most recent World Agricultural Supply and Demand Estimates (WASDE), wheat exports will drop to a 50-year low as a result of low water levels along the Mississippi River slowing the shipments, and US domestic stocks have accumulated more than anticipated. Wheat Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
ECB's Tenth Consecutive Rate Hike: The Final Move in the Current Cycle

Rising Fed Fund Rates Offer US Dollar Support (EUR/USD), UK Retail Sales Data Came In Hotter Than Expected (EUR/GBP, GBP/JPY)

Rebecca Duthie Rebecca Duthie 21.10.2022 19:30
Summary: Rising Fed funds rate estimates have benefited the dollar. U.K retail sales data. JPY rallied on Friday. USD supported by hawkish fed The market is reflecting bullish signals for this currency pair. Throughout the past week, the EUR/USD pair has struggled to find any definitive direction, and this morning was no exception. As bulls and bears continue their conflict, the pair has stayed largely range bound because next week will bring a number of important data events. Since last week's US CPI reading, the pair had experienced a rally, but this week's return of the dollar bulls has stopped any effort at an upward rise. Rising Fed funds rate estimates have benefited the dollar, with markets now projecting a peak rate of roughly 5%, up from 4.75% last week. As a result of this as well as rising Treasury yields, investors have continued to view the dollar as their favorite haven, keeping it strong. EUR/USD Price Chart GBP struggles as UK Retail Data misses market expectations The market is reflecting bullish signals for this currency pair. After Office for National Statistics (ONS) statistics revealed that UK retail sales collapsed in September, the pound fell into the week's final session, effectively wiping out more than two years of gains made since the first coronavirus-inspired closure of the economy in 2020. When measured by the number of products purchased, retail expenditure declined by 1.4% in September. This was a far worse decline than the -0.5% consensus estimate and came along with a downward revision to the ONS estimate for August sales growth, which was restated as -1.7%. EUR/GBP Price Chart JPY rally supporting GBP The market is reflecting bullish signals for this currency pair. A stunning Japanese Yen surge that seemed to be the catalyst for a market-wide decline in Dollar exchange rates, which was then followed by rumors of direct involvement from the Tokyo government and Bank of Japan (BoJ). The Yen appreciated by over five huge figures versus the dollar, which had previously run roughshod over all other currencies, while the Pound Sterling, which had been mired in the red, saw a notable rally against it late on Friday. GBP/JPY Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
SEK: Riksbank's Impact on the Krona

SNAP Inc. Share Price Crashes 30%, BHP CEO Optimistic About China’s Economic Prospects, Fed’s Hawkishness

Rebecca Duthie Rebecca Duthie 21.10.2022 16:38
Summary: Snap’s Q3 earning results missed market expectations. BHP is optimistic about China's growth prospects. Fed remains hawkish in interest rate hiking cycle. SNAP stock crashing After another difficult quarter, the stock price for Snap is still declining. In pre-market trading on Friday, shares of the social networking platform fell 25% as third quarter sales showed a fifth consecutive quarterly slowdown. Additionally, profits were disappointing, as Snap continued to attribute the poor execution to a slowdown in advertising and changes to Apple's privacy policies. The business issued a warning that the fourth-quarter sales trends would deteriorate. Snap Inc. Q3 earnings missed market expectations. Average Revenue Per User: $3.11 vs. $3.17 forecast, Daily Active Users: 363 million vs. 358 million estimate, Adjusted EPS: $0.08 vs. projected loss of $0.02, Net Sales: $1.13 billion vs. $1.14 billion estimate Guidance: Fourth-quarter revenue growth was "flat." $SNAP shares are still struggling in pre-market today after a dismal Q3 report. The stock is down almost 30% in pre-market, surpassing analyst estimates of a 23% swing. https://t.co/RD3FDZrEAT pic.twitter.com/j1CF7GKcTH — Yahoo Finance Plus (@yfinanceplus) October 21, 2022   BHP CEO optimistic about future production CEO of BHP Group Mike Henry stated on Friday that despite uncertainty, he was "cautiously optimistic" about China's economic prospects. The leader of the largest listed mining firm in the world stated in a pre-recorded interview at the FT Mining Summit in London: "There is uncertainty in China, but in our judgment, China is still going to give a bit of stability or underpinning to global economic development over the next 12 months."   With more than 250 million tonnes mined in the fiscal year ending in June, BHP is a leading producer of iron ore, which is used to make steel used in the construction industry. According to Henry, the multinational mining corporation is now looking into ways to boost iron ore productivity above 300 million tonnes annually. BHP chief pledges ‘disciplined’ M&A stance despite bulging war chest https://t.co/qoBC6jukwA — Financial Times (@FT) October 21, 2022 Federal Reserve to remain hawkish In general, the US dollar is higher so far today as markets assess the week before the weekend. After soaring once further in the US session, Treasury rates across the curve are a few basis points higher in Asian trade. Today's 4.27% yield on the benchmark 10-year bond was the highest since 2008. ⚠️BREAKING:*FED SET TO RAISE RATES BY 0.75 POINT AND DEBATE SIZE OF FUTURE HIKES - WSJ$DIA $SPY $QQQ 🇺🇸 🇺🇸 pic.twitter.com/eWNuHX0skh — Investing.com (@Investingcom) October 21, 2022 Sources: finance.yahoo.com, twitter.com, dailyfx.com
Solid Wage Growth in Poland Signals Improving Labor Market Conditions

UK Retail Sales Data Missed Market Expectations, Coming In Hotter Than Expected

Rebecca Duthie Rebecca Duthie 21.10.2022 08:41
Summary: U.K Retails data came in hotter than expected. Consumer spending has largely decreased in the U.K. UK Retail Sales Data UK Retail Sales Data heavily missed market expectations on Friday, with YoY data coming in at -6.9% and market expectations that were originally set at -5.0%, and MoM data also missing market expectations, coming in at -1.4% with expectations originally set at -0.5%. The data from both YoY & MoM missed market expectations by a long way, indicating that the U.K economy had deteriorated throughout September more than the markets had expected. Retail Sales track changes in the total amount of retail sales that have been adjusted for inflation. It is the most important gauge of consumer spending, which dominates all other forms of economic activity. The lower than expected readings could be interpreted as bearish or negative, as consumers in the U.K heavily slowdown the spending as the looming recession becomes more real. Effect on the market It could be said that the retail sales help investors to gauge the health of an economy and the existence of inflationary pressures. Consumer spending makes up a large part of the U.Ks GDP, the figures that largely missed market expectations could be interpreted as the U.K economy heading into a recession. The market could expect that the Bank of England (BoE) will continue on their interest rate hiking cycle, and perhaps we could see the BoE turn even more hawkish in their fight against rising inflation. The initial market reaction for the GBP/USD currency pair saw the GBP weaken against the USD, the same goes for the EUR/GBP currency pair, which saw the EUR strengthen against the GBP initially. The FTSE 100 is up as of the release of the Retail Sales Data. Sources: finance.yahoo.com, poundsterlinglive.com, ft.com
ECB Policy Decision Next Week (EUR/USD), Liz Truss’ Letter Of Resignation Supporting GBP (EUR/GBP, GBP/USD)

ECB Policy Decision Next Week (EUR/USD), Liz Truss’ Letter Of Resignation Supporting GBP (EUR/GBP, GBP/USD)

Rebecca Duthie Rebecca Duthie 20.10.2022 16:42
Summary:The story of fighting inflation is once again being told as US Treasury yields rise.Pound had been trading higher versus the majority of the major currencies.Euro bullish against USDThe market is reflecting bullish signals for this currency pair. The story of fighting inflation is once again being told as US Treasury yields rise. The yields on the carefully watched 2- and 10-year USTs are at 4.59% and 4.165%, respectively, the highest levels in around 15 years. Recent remarks from Fed officials confirm that, in the ongoing battle against intense price pressures in the US, the central bank will increase rates further and for a longer period of time if necessary. Later in the session, four Fed officials—Harker, Jefferson, Cook, and Bowman—speak and are likely to reiterate recent Fed rhetoric.The European Central Bank (ECB), which will announce its most recent policy decision the following week, is expected to raise rates by 75 basis points. The ECB is scheduled to raise rates further over the upcoming months, providing the single currency with some support as Europe continues to struggle with headline inflation that is close to double digits. EUR/USD Price ChartGBP supported in the wake of Liz Truss ResignationThe market is reflecting mixed signals for this currency pair. The reported departure of Prime Minister Lizz Truss, which will be followed by an unspecified procedure to choose her replacement, caused an earlier Dollar-induced gain to temporarily stall. This caused volatility in the Pound Sterling exchange rates throughout Thursday trade. Near the North American Open on Thursday, Prime Minister Lizz Truss made the announcement that she would continue in office for a week while steps were taken to select who would succeed her as leader of the ruling Conservative Party and in 10 Downing Street.This occurs toward the end of a month-long uprising against the recently elected Prime Minister, which was ostensibly led by former ministers who were not involved in the decision-making process for the new cabinet or the decisive stage of the most recent party process. Prior to the news, the pound had been trading higher versus the majority of the major currencies after yo-yoing during the session between the top and bottom of the major currency league table. EUR/GBP Price ChartFed remains hawkishThe market is reflecting bearish signals for this currency pair. According to James Bullard of the Fed, a 75 basis point increase at their November meeting was plausible, and a similar increase at their December meeting is anticipated. Charles Evans, another member of the board, expressed hawkish views, albeit to a lesser extent, when he claimed that the Fed was prepared for a variety of circumstances. According to US Vice President Joe Biden, corporations that produce energy should forgo dividend payments and share repurchases. He suggested that they concentrate on raising production instead.Liz Truss, the prime minister of the UK, has announced her resignation, claiming she is unable to carry out the mandate she was elected on. Within the following week, the Conservative Party will hold its leadership contest, and Ms. Truss will continue serving as prime minister until her replacement is chosen. GBP/USD Price ChartSources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
This Week's Tesla Stock Split Could Be The Best Moment To Buy The Stock! Twitter Stock Price Plunged!

Tesla (TSLA) Stock Price Dropped Around 5.77% In Pre-Market Trading

Rebecca Duthie Rebecca Duthie 20.10.2022 15:23
Summary: Concerns that inflation & logistic difficulties may have slowed the EV manufacturer's development. Tesla fell short of automotive gross margin estimates. Tesla share prices down Tesla Inc. shares dropped by roughly 5% in pre-bell trading on Thursday as Wall Street analysts worried that growing inflation and logistical difficulties may have slowed the electric vehicle manufacturer's development. At least five brokerages reduced their price targets for the stock, with Wedbush Securities making the greatest reduction of $60 to lower its goal to $300 and citing softer deliveries in 2022. "The bullish narrative is clearly hitting a rough patch as Tesla must now prove again to the Street that the robust growth story is running into a myriad of logistics issues as opposed to demand softening," Wedbush analyst Daniel Ives wrote in a note. In premarket trade, the stock, which has lost 37% of its value this year, dropped 4.6% to $211.80. The company warned that difficulties it was having with logistics could prevent it from meeting its goal of a 50% increase in delivery volume this year in its quarterly results report. Elon Musk, the CEO of Tesla, acknowledged that "demand is slightly harder" than it would otherwise be on a post-earnings call, but he reiterated that the business was quite optimistic in having a record fourth quarter. Tesla fell short of automotive gross margin estimates despite increased selling prices for its vehicles due to manufacturing ramp-up costs at its new factories in Austin, Texas, and Berlin, Germany. However, other analysts believe Tesla will benefit greatly from the global transition toward electric automobiles. Elon Musk, Tesla's CEO, noted that demand was high while discussing the company's third-quarter profits. He did, however, issue a warning that deflationary tendencies in the economy were intensifying and that China and Europe were going through "a form of recession." TSLA Price Chart Sources: finance.yahoo.com, ft.com
Australia Is Expected To Produce A Bumper Year Of Crops

Platinum Futures, RBOB Gasoline Prices Remain Stubbornly High, Wheat Futures Touch 1-month Lows

Rebecca Duthie Rebecca Duthie 20.10.2022 12:53
Summary: Platinum futures prices down 7.45% in 2022. 3rd week of October saw 1-month lows for Wheat. RBOB Gasoline prices are higher than it was for at least nine of the previous election cycles. Platinum futures dropped in 2022 Since the start of 2022, platinum prices have dropped by 71.71 USD/t oz., or 7.45%, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Platinum Jan ‘23 Futures Price Chart Wheat facing supply shortages Chicago wheat futures dropped in the third week of October, lingering at levels not seen in a month, as the prospect of a supply shortage was allayed by progress in negotiations for grain trading agreements with the Ukraine. According to UN spokesman Dujarric, ongoing negotiations with Moscow over the expansion of the current agreement establishing a trade corridor for Black Sea ports have been positive and productive. This raises hopes that major exporter Ukraine will be able to ship wheat and free up much-needed silo storage space for the current harvest. According to the most recent World Agricultural Supply and Demand Estimates (WASDE), wheat exports will drop to a 50-year low as a result of low water levels along the Mississippi River slowing the shipments, and US domestic stocks have accumulated more than anticipated. Wheat Dec ‘22 Futures Price Chart RBOB Gasoline remain stubbornly high Just three weeks out from the midterm elections, US pump prices are still stubbornly high, and the states suffering the most are those that will decide which party will control Congress. The most prominent inflation warning in America is the pump price, which is displayed on street corners around the nation. According to AAA data, the price of petrol was $3.88 per gallon during the first half of October, which is higher than it was for at least nine of the previous election cycles. RBOB Gasoline Nov ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
ECB Likely To Remain Hawkish (EUR/USD), U.K CPI Inflation Returns To Double Digits (EUR/GBP), BoJ Unbothered By Weak Yen (USD/JPY)

ECB Likely To Remain Hawkish (EUR/USD), U.K CPI Inflation Returns To Double Digits (EUR/GBP), BoJ Unbothered By Weak Yen (USD/JPY)

Rebecca Duthie Rebecca Duthie 19.10.2022 18:54
Summary: Eurozone CPI inflation missed double digits. UK inflation increased from 9.9% to 10.1%. USD/JPY has positive carry. Eurozone inflation beat market expectations The market is reflecting mixed signals for this currency pair. The data, which narrowly avoided the 10% inflation mark as compared to September of last year, would undoubtedly support the recent hawkish stance taken by senior ECB members. Centeno and Visco, two ECB members, will get the chance to comment on the most recent inflation data later today as ECB talk is expected to slow down before the required blackout period prior to Thursday's rate decision. There is a new significant market driver in town as the US is currently in earnings season. This will highlight a variety of subjective factors because what US company executives say can start to shape expectations for future quarters' results. The key question at this time is how the sudden and sharp spike in rates has affected businesses. EUR/USD Price Chart EUR/GBP limped temporarily The market is reflecting bullish signals for this currency pair. After Office for National Statistics data indicated that inflation increased more than anticipated in September, the Pound Sterling temporarily limped against the Dollar and the Euro. However, this outcome does little to deter the Bank of England (BoE) from raising interest rates aggressively in November. In September, UK inflation increased from 9.9% to 10.1%, defying the expectation of economists who had expected the annual rate of price growth to exceed 10% for the previous month. EUR/GBP Price Chart USD/JPY remains positive The market is reflecting mixed signals for this currency pair. The carry is still positive for the USD/JPY currency pair, and it will continue to be so as long as US interest rates are still rising and Japanese monetary policy is as it is. A weak Yen isn't all that awful for Japan, and it doesn't seem to be causing much concern at the central bank, according to BoJ Governor Kuroda. However, since the intervention was requested by the Ministry of Finance late last month, the same cannot be stated there. There is a new significant market driver in town as the US is currently in earnings season. This will highlight a variety of subjective factors because what US company executives say can start to shape expectations for future quarters' results. USD/JPY Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Netflix (NFLX) Q3 Earnings Beat Market Expectations

Netflix (NFLX) Q3 Earnings Beat Market Expectations

Rebecca Duthie Rebecca Duthie 19.10.2022 18:02
Summary:Netflix shares increased 14%.Netflix also plans to take action against password sharing.Netflix Q3 Earnings summaryFollowing the company's announcement that it had surpassed Wall Street's expectations by adding 2.41 million members during the third quarter, shares increased 10%. According to Netflix officials, "despite a hard first half, we feel we're on a road to reaccelerate growth," with "satisfying members" being the key. Netflix identified the strong dollar as a challenge and projects that the rise of the dollar will reduce income for the entire year 2022 by up to $1 billion. Santosh Rao, Head of Research at Manhattan Venture Partners, said in an interview with Yahoo Finance that Netflix's robust subscriber growth figures show "everything is working" and that the company is now releasing the ad-supported tier from a "point of strength."“Thank God we’re done with shrinking quarters,” said Reed Hastings, chief executive, during a video call with investors. “We’re back to the positivity.”After the New York stock exchanges opened on Wednesday, shares of Netflix increased by more than 15%. The industry pioneer in video streaming reported a modest fall in net income, from $1.44 billion a year ago to $1.4 billion, shocking investors with its announcement in April that it had lost customers. Earnings per share decreased 2.8% to $3.10, beating Wall Street's forecast of $2.10 per share.Additionally, it issued a warning that the impact of the strong currency and macroeconomic headwinds like inflation would result in a decline in revenue and earnings in the fourth quarter. Hastings stated that the fourth-quarter forecast was reasonable, but not fantastic”, adding: “We’ve got to pick up the momentum.”In response to mature subscriber growth in key areas, the company has introduced two steps to maintain its business: a less expensive streaming service financed by advertising and an effort to prevent rampant password sharing.Early in 2019, Netflix also plans to take action against password sharing, a problem it had largely disregarded while seeing explosive subscriber growth. The business will give account holders the option to set up "subaccounts" for close relatives or friends who use one account as a base. NFLX Price ChartSources: ft.com, finance.yahoo.com
The Commodities: The EU Is Looking At A Price Cap Level Of Around US$60/bbl

WTI Crude Oil Recover Slightly From 2-week Lows, Palladium Futures Hitting 2-week Lows, Coffee Futures Hit 1-year Lows

Rebecca Duthie Rebecca Duthie 19.10.2022 14:32
Summary: Sanctions by the EU against Russian crude threatened to jeopardize the US's planned release of emergency oil stocks. Dollar index climbed back toward 20-year highs following a strong CPI reading. A stronger dollar and an improving crop forecast causing coffee futures to drop. WTI Crude Oil edged above 2 week lows As the latest sanctions by the European Union against Russian crude threatened to jeopardize the US's planned release of emergency oil stocks, WTI crude futures edged above $84 a barrel on Wednesday, recovering from two-week lows. Tankers transporting Russian crude beyond a predetermined price level would be subject to shipping restrictions from the EU, obliging shipowners to abide by the Group of Seven agreement to cap the price of Russian oil. In the meantime, it has been claimed that the US will release 15 million barrels of oil from its emergency supplies in order to lower the high cost of gasoline this winter. Following a White House charge that Saudi Arabia forced other countries to endorse the plan, Malaysia defended an OPEC+ decision to restrict oil production. It said the group “collectively took into consideration factors that include market fundamentals, particularly to address uncertainties in the global oil supply and demand situation.” WTI Crude Oil Futures Price Chart Palladium falls to lowest price in 2-weeks Palladium futures dropped to $2,070 per ounce, the lowest price in more than two weeks, as the dollar index climbed back toward 20-year highs following a strong CPI reading, which hit commodities. Despite rising interest rates and slower GDP, palladium prices are 30% lower than they were in March. It is anticipated that central banks would keep raising interest rates to keep inflation from soaring even when the economy is slowing. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. However, there is still a shortfall on the palladium market. Palladium Dec ‘22 Futures Price Chart Coffee extended losses to 1 year lows A stronger dollar and an improving crop forecast in top producer Brazil as a result of reports of ample rain that may encourage blooming for next year's coffee crop caused Arabica coffee futures on ICE to extend losses, levels not seen in almost a year. The most recent statistics revealed that on October 13th, ICE-certified arabica stocks reached a new 23-year low of 408,419 bags. Additionally, the world's largest consumer of coffee, Europe, has expressed concerns about the demand due to continued economic issues, according to investment bank Itau BBA. Coffee Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
The Markets Still Hope That The Fed May Consider Softer Decision

Eurozone CPI Inflation Came in Lower Than Expected

Rebecca Duthie Rebecca Duthie 19.10.2022 13:11
Summary:  Eurozone CPI inflation came in lower than expected. CPI inflation drops for the first time since May 2022. Initial market reactions. The Eurozone CPI inflation  The market had originally forecasted a CPI (YoY) inflation of 10% for the Eurozone, the actual figure came in at 9.9%, missing market expectations slightly. This could indicate to the market that the European Central Bank should continue its interest rate hiking cycle.  The falling inflation during September marks the first drop in Eurozone CPI inflation since May 2022. The falling inflation could provide the European Central Bank with an incentive to continue on their hawkish interest rate hiking path.  Effect of the CPI inflation data When the European Central Bank meets again at the end of the month, it is anticipated that it will boost its benchmark interest rates by an additional 75 basis points, adding to the total number of rises announced since July of 125 basis points. However, the Euro Area is predicted to "stagnate later in the year and in the first quarter of 2023," and the fear of a weakening economy may induce the central bank to implement lower rate increases over the following months. With the U.K. inflation figures, concerns that central bank tightening may cause a worldwide downturn have reemerged, reversing the previous upbeat feeling brought on by solid earnings reports and dissipating concerns about systemic risk from Britain's debt markets. The U.K’s hotter than expected inflation figure has also put pressure on the markets. In addition, the European economy has been weighed down by the conflict between Russia and the Ukraine, and the looming energy crisis. The Initial market reaction in the wake of the softer than expected CPI inflation data saw the Euro weaken against both the US Dollar and the Pound sterling. The initial market reaction saw both the HSBC shares and the iBEX index rise. Sources: finance.yahoo.com, marketsummary.com, ft.com, investing.com
TEST

Dow Jones Increased Overnight, GBP Could Rally If UK Leadership Changed

Rebecca Duthie Rebecca Duthie 19.10.2022 11:27
Summary: Dow Jones futures all increased overnight as investors focused on Netflix (NFLX). The near-term outlook for the pound has significantly improved. Dow Jones Index Rally The S&P 500, Nasdaq, and Dow Jones futures all increased overnight as investors focused on Netflix (NFLX) subscriber growth and anticipated Tesla earnings. The effort at a stock market rally extended advances on Tuesday, but the session ended well below highs. Although the market rise is still going strong, nothing yet has been proven. Investors should exercise caution and pay great attention. In Q3, Netflix's subscriber growth was substantially stronger than anticipated, and the leader in streaming TV is optimistic about Q4 subscribers. Earnings also exceeded expectations. The rise in Netflix's shares suggested a breakout. Overnight, Roku (ROKU) and Disney (DIS) both increased. In comparison to fair value, Dow Jones futures gained 0.6%, with DIS stock contributing a slight gain. Futures for the S&P 500 rose 0.7%. Futures for the Nasdaq 100 rose 1.4%. United Airlines and NFLX stock both make up the S&P 500 and Nasdaq 100. DJI Price Chart GBP could rally in the wake of UK leadership change The near-term outlook for the pound has significantly improved, according to foreign exchange strategists at BMO Capital, and more gains are possible if the UK leadership is changed in the next two weeks. They claim that such a development is very plausible. The call follows the dramatic about-face in UK fiscal policy that newly-installed Chancellor Jeremy Hunt revealed. In order to fully restore market confidence in the UK government and finances, Hunt undid all of his predecessor's tax cuts. This was followed by a decline in UK gilt yields and a rise in the value of the pound. The reversal was unavoidable given that the world markets recoiled at the generosity of the new prime minister Liz Truss' economic plans, which called for large tax cuts that would be paid for by borrowing.
GBP CPI Inflation (YoY) Came In Hotter Than Expectations - 19.10.2022

GBP CPI Inflation (YoY) Came In Hotter Than Expectations - 19.10.2022

Rebecca Duthie Rebecca Duthie 19.10.2022 11:27
Summary:GBP September 2022 YoY inflation, beat market expectations.Affect on the GBP.GBP CPI InflationThe market has predicted a CPI YoY inflation figure of 10%, the actual data came in at 10.1%, which was hotter than expected by the market.The inflation reading is likely to set off expectations on the future interest rate hiking path of the Bank of England (BoE). The higher than expected inflation reading is likely to set investor confidence in the direction of a continuing hawkish BoE interest rate hiking cycle, causing investor confidence in the GBP to increase and therefore strengthening the pound sterling currency.Following some fresh concern in the UK bond markets on Tuesday, the British Pound's impressive run came to an abrupt end. Following the Bank of England's forced denial that it would further delay its program of quantitative tightening, UK gilts declined and the yield they offered increased. This is the procedure through which it sells the gilts it acquired as part of its quantitative easing strategy back to the market. A crucial element of the Bank's strategy for normalizing monetary policy as it battles inflation is quantitative tightening. After the recent instability in the bond market, The Financial Times reported on Tuesday that the Bank was prepared to postpone the program.Effect of the CPI reading on the GBPIt is no secret that the pound sterling has had a tough year on the forex markets. The near-term outlook for the pound has significantly improved, according to foreign exchange strategists at BMO Capital, and more gains are possible if the UK leadership is changed in the next two weeks.The Kwarteng catastrophic "mini-budget" in September, which offered the largest tax cuts in 50 years at a time when the U.K. economy is already experiencing significant inflation, is blamed by the government for the turmoil the pound sterling is currently experiencing. The Bank of England had to step in to prevent the collapse of a significant portion of the U.K. pension system after Kwarteng's actions drove the pound to an all-time low against the dollar and set off a sell-off in government bonds.The initial market reaction showed a weakening in the GBP/USD currency pair, and a strengthening in the EUR/GBP currency pair as investors weigh GBP prospects.Sources: poundsterlinglive.com, investing.com
Crude Oil Drops As US Prepares To Release Stores Into Market

Crude Oil Drops As US Prepares To Release Stores Into Market

Rebecca Duthie Rebecca Duthie 18.10.2022 18:48
Summary:Likelihood of extra barrels being released from strategic reserves.Concerns about a tight market as the winter season approaches. Prices have decreased by approximately a third.Crude Oil DropsThe likelihood of extra barrels being released from strategic reserves helped to allay market concerns about a tight market as the winter season approaches. In yet another erratic session, West Texas Intermediate fell as much as 2.4% to trade under $84 per barrel. In order to increase supply, the US is working toward releasing more barrels from its strategic oil reserve. Crude continues to trade in the wide range it has been in for the past month, constantly moving in response to global market risk sentiment.In October's erratic trading of crude, the market was caught between two conflicting factors. Time spreads, important market strength indicators, are indicating tightness ahead of the start of OPEC+ output cuts in November, but adverse market factors like weak Chinese demand and aggressive central bank monetary policy continue to weigh on the market. Additionally, impending penalties from the European Union on Russia have caused several Indian refiners to stop making spot purchases of the nation's crude.Since early June, prices have decreased by approximately a third, wiping off all the gains achieved during Russia's invasion of Ukraine. The impending implementation of EU sanctions on Moscow's oil trading has prompted merchants and refiners to reserve storage tanks in anticipation of a supply shortage.According to persons familiar with the situation, the US is moving toward releasing another 10 million to 15 million barrels of oil from the country's emergency reserve in an effort to stabilize markets and prevent gasoline prices from rising higher. Separately, according to two of the sources, the Biden administration is still considering restrictions on gasoline exports. Crude Oil Price ChartSources: finance.yahoo.com
Solid Wage Growth in Poland Signals Improving Labor Market Conditions

ECB Seems To Have Limited Options (EUR/USD), Concerns In UK Bond Market (EUR/GBP), JPY Drops To 1990 Lows (USD/JPY)

Rebecca Duthie Rebecca Duthie 18.10.2022 15:31
Summary: Markets are betting on a 90% chance that ECB will enforce another 75bp hike. GBP's impressive run came to an abrupt end. JPY dropped to lows last seen in August 1990. ECB seems limited in their options The market is reflecting bullish signals for this currency pair. The European Central Bank (ECB)'s are limited in their options in light of the most recent CPI reading. The ECB's case for continuing to raise rates in pursuit of its 2% target may be strengthened by today's stronger ZEW statistics. The concern is that by doing this, the central bank could risk sending the economy back into a recession, which would be indicated by the dropping ZEW current conditions print. On the other hand, if the central bank does nothing, the euro may lose further ground to the dollar. The final CPI report on Wednesday and today's data print will be crucial as the ECB begins its pre-meeting blackout period on Thursday. As the central bank works to achieve its 2% target, markets are putting in a 90% chance that there will be another 75bp increase at the meeting next week. We will hear from ECB policymaker Isabel Schnabel later in the day. She is anticipated to maintain the rhetoric of rate increases despite the fragility of the Eurozone economies. EUR/USD Price Chart Concerns in UK bond markets The market is reflecting mixed sentiment for this currency pair. Following some fresh concern in the UK bond markets on Tuesday, the British Pound's impressive run came to an abrupt end. Following the Bank of England's forced denial that it would further delay its program of quantitative tightening, UK gilts declined and the yield they offered increased. After the recent instability in the bond market, The Financial Times reported on Tuesday that the Bank was prepared to postpone the program. After reaching a high of 1.1576 earlier in the day, the exchange rate between the British pound and the euro dropped to 1.1490. This brings the rates for bank transfers to around 1.1260 and the prices provided by payment specialists to around 1.1450. EUR/GBP Price Chart JPY continues to lose against the USD The market is reflecting bullish signals for this currency pair. Earlier in the session, the Japanese Yen dropped to lows last seen in August 1990 as it continues to lose value against the US dollar. Little has changed for the Yen as Japanese authorities appear ready to allow the currency to continue to decline by controlling bond yields. The yield on 10-year JGBs is restricted to 0.25%. In contrast, as the Fed keeps raising interest rates, US Treasury yields continue to trade at or close to multi-year highs. The benchmark 10-year UST is quoted with a yield of 4.00%, which is approximately 375 basis points higher than the comparable JGB. The rate-sensitive 2-year UST trades with a yield of about 4.45%. USD/JPY Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Central Banks' Rates Outlook: Fed Treads Cautiously, ECB Prepares for Hike

NGAS Futures Touch Lowest Level In 3 Months, Cotton Touching April Lows, US Dollar Retracts - Gold Supported

Rebecca Duthie Rebecca Duthie 18.10.2022 11:31
Summary: Natural gas futures fell by about 7% on Monday. UK's decision to rescind nearly all of its proposed tax cuts increased risk appetite. Persistent demand worries weighing on cotton. NGAS futures fall In response to record domestic production levels and weaker weather-driven demand, US natural gas futures fell by about 7% on Monday, to the lowest in three months. According to the most recent EIA data, US utilities added 125 billion cubic feet (bcf) of gas to storage last week, which is significantly more than typical and more than the market anticipated at 123 bcf. Due to the moderate weather and increased wind power, there were gains above 100 bcf for the fourth week in a row. According to Refinitiv, average gas production in the Lower 48 US states increased to a record 99.9 bcfd so far in October from a previous high of 99.4 bcfd in September. Reduced LNG shipments and a decline in demand brought on by Hurricane Ian's power outages also had an impact on gas prices. NGAS Futures Price Chart Gold futures stabilized On Tuesday, the price of gold stabilized around $1,650 an ounce, halting a recent decline as the dollar lost some gain following the UK's decision to rescind nearly all of its proposed tax cuts, which increased risk appetite in the market. The US Federal Reserve is expected to tighten more in order to reduce inflation, which has continued to put pressure on the price of metal. Recent data revealed that US year-ahead inflation expectations rose, supporting the argument for more rate increases combined with a hot inflation report from September. Despite ongoing inflationary pressures and growing chances of a worldwide recession, gold also continued to perform poorly as a safe-haven asset as investors fled to the dollar due to rising US interest rates. Gold Dec ‘22 Futures Price Chart Cotton touching April 2021 lows Cotton futures fell to a level last seen in April 2021 due to persistent demand worries, while rising interest rates strengthened the dollar and reduced demand for commodities priced in US dollars. On the supply side, however, an optimistic report from the US Department of Agriculture provided some support for the fiber. In light of the ongoing uncertainty on the extent to which unfavorable weather conditions, such as drought and heavy rain, may reduce output in top producer Texas and other states for the 2022–2023 season, the USDA has lowered its outlook for domestic supplies. Cotton Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Franc Records 11th Consecutive Daily Decline Against the Dollar as US Economic Concerns Mount

S&P 500 Rallies Ahead Of Q3 Earnings, GBP Supported By Revisions To UK Finances

Rebecca Duthie Rebecca Duthie 17.10.2022 23:27
Summary: The Treasury would conduct a review of the best strategies. S&P 500 up 2.65%. S&P 500 rallies ahead of Q3 earnings U.S. equities rose on Monday as investors gathered for a large week of corporate profits, helped by a batch of positive bank results and a reversal of tax reduction plans in the U.K. The sixth-largest bank in the nation by assets, Bank of America (BAC), was the last to announce profits on Monday. After the company announced trading revenue that exceeded Wall Street expectations, shares increased by more than 6%. Positive sentiment was also boosted by Bank of New York Mellon's (BK) and brokerage Charles Schwab's (SCHW) stronger-than-expected results. U.S. equities rose on Monday as investors gathered for a large week of corporate profits, helped by a batch of positive bank results and a reversal of tax reduction plans in the U.K. The swings on Monday follow a wild week on Wall Street, during which the S&P 500 had its fifth-largest intraday reversal from a record low on Thursday, despite consumer price data showing that inflation persisted in its inexorable march throughout the U.S. economy last month. Even yet, the benchmark index declined for the week. GSPC Price Chart Energy cap due to end in April After the UK government scrapped all of its tax-cutting proposals and announced that its program to help people pay their energy bills will now stop in April, the British pound continued to rise on Monday. The actions are a cornerstone of the incoming Chancellor Jeremy Hunt's strategy to win back market trust in the UK's finances. According to Hunt, the Treasury would receive an additional £32BN year from the rollback of tax cuts. Hunt added that the Treasury would conduct a review of the best strategies for shielding consumers and companies from rising gas and electricity prices. The major expenditure made by the new government, the Energy Price Guarantee, which now caps energy prices, will now expire in April. When the program was first announced, it was open-ended in nature, which made it challenging for markets to value the prospects for the UK's finances. Markets will be more certain about how the country's liabilities will change as a result of the programme's limitations. The government's message to the markets is unmistakable: it is totally committed to regaining credibility. Sources: finance.yahoo.com, poundsterlinglive.com
Federal Reserve Remains Hawkish (EUR/USD), Political Uncertainty In Westminster Circus (EUR/GBP, GBP/USD)

Federal Reserve Remains Hawkish (EUR/USD), Political Uncertainty In Westminster Circus (EUR/GBP, GBP/USD)

Rebecca Duthie Rebecca Duthie 17.10.2022 20:24
Summary: Fedspeak is back in the spotlight this week. EUR/GBP reached one-month highs last week. Fedspeak is back in the spotlight after strong CPI inflation The market is reflecting bearish signals for this currency pair. As markets process the strong CPI number from last week, Fedspeak is back in the spotlight this week. Given the lack of significant new data this week, market players will probably give Fed speech and corporate earnings more weight. Recent Federal Reserve speakers have kept up the "hawkish drum," with the majority seeing the lack of inflation progress as justification for continuing with aggressive rate hikes. Since recent remarks suggest the Fed is seeking some pain in both housing and employment in order to reduce inflation, the persistent tightness in the domestic labor market continues to be a talking topic for Federal Reserve officials. Chair Jerome Powell's hawkish comments at Jackson Hole, when Powell threw a warning shot across the financial markets' bow, abruptly shifted the atmosphere surrounding a soft landing. Market investors are still firm in their desire to price in a Fed policy reversal, but with inflation where it is, such a turnabout for the central bank is all but unthinkable. EUR/USD Price Chart EUR/GBP reached one month highs The market is reflecting bearish signals for this currency pair. The exchange rate between the pound and the euro reached one-month highs last week, but it may now find it difficult to rise much further in the days to come and even be at risk of new selling as the Westminster Circus once again devolves into the type of farce most typical of one of those vintage Carry On movies. With political instability and uncertainty once again at the top of the agenda, the pound surged strongly last week amid rumors that HM Treasury would withdraw some of the spending commitments made in the late-September budget. EUR/GBP Price Chart GBP/USD recovered slightly The market is reflecting bullish signals for this currency pair. The Pound to Dollar exchange rate has recently recovered significantly, but it may take a setback for the Dollar to advance further this week, in part because Sterling faces dangers related to the possibility of another Prime Minister in the Banana Republic of Westminster being booted from power. The news that HM Treasury would be able to postpone some of the spending promises made public in the late-September budget statement helped the value of the pound last week. However, political instability and uncertainty are once again at the forefront of this week's events. GBP/USD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Sustainability-Linked Products: Navigating Growth and Challenges for the Future

BP Plans To Purchase Biogas Manufacturer, Archea

Rebecca Duthie Rebecca Duthie 17.10.2022 18:06
Summary: BP’s largest-ever low-carbon energy acquisition. Archaea Energy would boost BP's biogas supply volumes by 50%. BP to benefit almost immediately from the purchase A US-listed biogas manufacturer will be purchased by BP for $4.1 billion, marking its largest-ever low-carbon energy acquisition as the UK oil company looks to hasten its transition to cleaner fuels. According to a statement released by BP on Monday, the planned acquisition of Houston-based Archaea Energy would boost BP's biogas supply volumes by 50% right away and offer a development pipeline of more than 80 projects with the potential to quadruple volumes by 2030. In order to create low-carbon fuel, Archaea processes organic waste from landfills and the agricultural sector. The company advertises itself as a top producer of renewable natural gas in the US. BP is paying $3.3 billion in cash, while Archaea has a net debt of about $800 million. Archaea, a company founded by the proprietors of a landfill in Pittsburgh, operates 50 landfill gas-to-energy and renewable natural gas facilities around the US, producing 6,000 barrels of oil equivalent each day. “Archaea is a fantastic fast-growing business, and BP will add distinctive value through our trading business and customer reach,” BP chief executive Bernard Looney said. The transaction is currently awaiting regulatory and shareholder clearance from Archaea. With a commitment to reduce BP's oil and gas production by 40% by 2030 while increasing investments in the development of more environmentally friendly energy sources, Looney is leading one of the most ambitious corporate transformations in the industry. According to BP, by 2025 and 2030, investments in its five transitional businesses—biofuels, convenience (forecourts and food), charging, renewables, and hydrogen—will account for 40% of all company spending. According to a recent estimate from Goldman Sachs, renewable natural gas now provides around 0.2% of the total supply, constituting a negligibly small portion of the US gas market as a whole. However, as businesses explore for ways to reduce their emissions, it is expanding quickly, and some governments, like California, offer large incentives for the projects. BP Price Chart Sources: finance.yahoo.com, ft.com
Oil trades around USD 100, gold edges higher

Silver Futures Weighed Down By Hawkish Fed, Brent Crude Oil Demand Outlook Weakened, Corn Futures

Rebecca Duthie Rebecca Duthie 17.10.2022 12:26
Summary: Demand for silver continues to weaken. Increasing macro headwinds have investors concerned about a deteriorating outlook for demand. Silver Futures dampened by hawkish fed Spot silver prices declined to below $19.3 an ounce in the second week of October, retreating significantly from the three-month high of $21.1 reached on October 4th and tracking the decline in US Treasury notes as expectations of an increasingly hawkish Federal Reserve continue to dampen demand for non-interest-bearing bullion investments. After the stronger-than-expected September jobs data and comments from Fed policymakers emphasizing the need to lower inflation, hopes that the US central bank could slow the pace of upcoming rate hikes were dashed. Members of the ECB board have also maintained that borrowing prices must be restricted since markets are currently underestimating inflation, which might last until 2025. Silver Dec ‘22 Futures Price Chart Brent Crude Oil futures As investors balanced a weaker prognosis for the global economy against tighter supply, Brent crude futures were trading around the $91 per barrel mark. Increasing macro headwinds, such as high inflation, tighter financial conditions, Russia's invasion of Ukraine, and the ongoing coronavirus outbreak, have investors concerned about a deteriorating outlook for demand. Any upward movement has also been constrained by the US Federal Reserve's active tightening drive against inflationary excess, a stronger dollar, and China's restrictions brought on by the Coronavirus. As OPEC and its allies, including Russia, decided to further reduce output before the European Union oil embargo, rising concerns about tighter global supplies acted as a floor beneath prices. Brent Crude Oil Futures Price Chart Corn Futures In the second week of October, Chicago corn futures remained close to the $6.9 per bushel level after the most recent World Agricultural Supply and Demand Estimates (WASDE) revealed reducing worldwide stockpiles. The USDA also predicted decreased exports and a tighter supply within the country. Iran, Japan, and Vietnam had their import predictions cut, while the EU and the US had theirs lifted. In other developments, it has been claimed that China is considering beginning to purchase corn from Brazil, bypassing US grain growers. Investors are concerned about the world's food supply this winter due to the ongoing unpredictability surrounding the Russo-Ukrainian War. The price of corn is still close to the three-month high ($7.0 per bushel) set on October 10. Corn Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
US CPI Inflation Offers USD Support (EUR/USD, GBP/USD), German CPI Inflation Met Expectations (EUR/GBP)

US CPI Inflation Offers USD Support (EUR/USD, GBP/USD), German CPI Inflation Met Expectations (EUR/GBP)

Rebecca Duthie Rebecca Duthie 13.10.2022 18:07
Summary:The Pound suffered significant losses against all other currencies.The ECB is still predicted to be hawkish.US CPI Inflation offered USDECB aware of lagging EurozoneThe market is reflecting mixed signals for this currency pair. Klaas Knot of the European Central Bank stated yesterday that because the euro zone is still lagging behind the US in terms of the anticipated terminal rate, it will need to increase into a restricted area. He continued by saying that a few more swift rate increases are required to merely enter neutral territory, with no signs that the target rate of 75 basis points could not be reached for the upcoming meeting. Such arguments support the EUR/USD ahead of today's critical CPI data. German CPI and HICP inflation figures (YoY) released earlier this morning exactly as expected, causing little market reaction in the EUR/USD. The November meeting is now valued at 70 basis points in the money markets. EUR/USD Price ChartGBP suffered significant losses on ThursdayThe market is reflecting bearish signals for this currency pair. In the midst of media speculation that Prime Minister Liz Truss may be about to exhibit the pragmatism that she is allegedly famed for in relation to September's budget-like expenditure measures, the pound sterling added to its substantial gains against all comparable currencies on Thursday. Following the declaration that resembled a budget in September, the pound suffered significant losses against all other currencies as well as for UK government bonds. EUR/GBP Price ChartCPI inflation supported the USDThe market is reflecting mixed signals for this currency pair. After data showed that U.S. inflation is still on the rise, the Federal Reserve's "pivot" in its cycle of rate increases and the Dollar rally remain as elusive as ever. After it was revealed that U.S. inflation was higher than the market anticipated in September, the dollar gained strength worldwide, boosting hopes for future Federal Reserve rate hikes and lowering the likelihood of a rate cut in 2023.In expectation of additional rate hikes and a decline in international equity markets, the dollar increased substantially. GBP/USD Price ChartSources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Both The US CPI & Core CPI Inflation Beat Market’s Forecasted Figures

Both The US CPI & Core CPI Inflation Beat Market’s Forecasted Figures

Rebecca Duthie Rebecca Duthie 13.10.2022 15:19
Summary: US CPI inflation beat market expectations. US Core CPI inflation beat market expectations. Initial market reaction. US CPI & Core CPI Inflation beat market expectations After breaking out last week, the US dollar is maintaining its recent highs. The primary US catalyst for this week is the release of CPI data today. According to economists surveyed by Reuters, the CPI is anticipated to have risen by 8.1% in September compared to the same month a year prior, which is only slightly less than the 8.3% annual increase seen in August. The actual US CPI inflation (YoY) came in at 8.2%, beating market expectations. For the White House and legislative Democrats, the continued high inflation has been a major political concern, overshadowing the coronavirus pandemic's quick recovery and the creation of millions of jobs since Joe Biden took office. The Core CPI is anticipated to rise for a second consecutive month, with the rate rising to 6.5% in September from 6.3% in August. Additionally, the Summary of Economic Projections (SEP) shows a higher path for US interest rates, which could fuel anticipation for another 75bp Fed rate hike. The actual US Core CPI inflation (MoM) came in at 6.6%, also beating market expectations. Effect on the markets The market will probably jerk in either direction after the September CPI report is released. The bar remains very high to change the perception surrounding a 75 basis point rate hike from the FOMC in November, despite the possibility of volatility across asset classes. The Federal Reserve may face pressure to maintain its approach to battling inflation if the core CPI increases once again, according to the minutes from the September meeting that revealed “many participants emphasized that the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action.” The initial reaction from the EUR/USD was bearish, USD/JPY was bullish as the dollar strengthened in the wake of the news, the S&P500 also jumped and Bitcoin remained on a downward trend. Sources: investing.com, financialtimes.com, finance.yahoo.com, dailyfx.com
Altcoins: Everscale (EVER) - What Is It? - A Deeper Look Into the Everscale (EVER) Platform

Altcoins: Everscale (EVER) - What Is It? - A Deeper Look Into the Everscale (EVER) Platform

Rebecca Duthie Rebecca Duthie 13.10.2022 14:16
Summary:What is The Everscale and how does it work?What makes the Everscale exchange unique?Everscale’s present and future price positions.The Everscale (EVER) platformThe fifth generation layer-1 PoS blockchain network is called Everscale. This claim that it is among the most technologically advanced blockchain networks is not merely hyperbole. All of the newest blockchain breakthroughs and ideas have been incorporated into Everscale. Due to its adaptability, it has the potential to become a decentralized center for numerous blockchains and resource-intensive applications like GameFi, DeFi, microtransactions, real-time bidding, etc. The native token of Everscale is called EVER, and it functions as both a fee token and a governance token. Multiple swaps list EVER. It is available on several exchanges in the WEVER wrapped ERC-20 version.More than 200 employees work full-time on creating the ecosystem and the network. Through the Grants Program and hackathons, Everscale actively seeks out fresh initiatives and developer talent.An increasing number of controlled exchanges, like Huobi Global, Gate.io, KuCoin, and decentralized exchanges like FlatQube, have EVER listed for trade.Everscale is a brand-new and distinctive blockchain architecture that has decentralized user interfaces, Turing-complete smart contracts, and the ability to handle millions of transactions per second. In order to be scalable, quick, and safe at the same time, Everscale offers certain novel and distinctive qualities like dynamic multithreading, soft majority consensus, and distributed programming. Through the Soft Majority Voting protocol, it is managed by a decentralized community built on meritocratic principles. Everscale offers a variety of decentralized browsers and wallets that enable numerous applications in the DeFi, NFT, tokenization, and governance domains. These tools include compilers for Solidity and C++, an API, an SDK with client libraries for 13 programming languages and all widely used platforms, and compilers for Solidity and C++.The Everscale UniquenessDynamic multithreading and sharding technology are available from Everscale. The blockchain is made up of a Masterchain and numerous "workchains," or shards. Similar to Polkadot and Ethereum 2.0, the security of the network rests on the Masterchain because it has all block proofs from all workchains in the network. A new workchain can be added at any time when the capacity of the present workchains is almost utilized, unlike other blockchains, to avoid even the tiniest congestion.A new validator node is also assigned to a workchain and a thread when it joins Everscale, preventing the validators from having to process the data of the entire network. The total number of transactions that the workchains can handle over time is the network's throughput because they can only handle a finite amount of data. In conclusion, the network can scale practically infinitely, something that no other blockchain can claim. There is always more opportunity to add capacities to handle any strain.Key features of the Everscale (EVER) network High performance with a confirmed 60K+ TPS real globe scale incredibly low costs Bridges with Tezos, Cardano, BNB Chain, Polygon, Phantom, Avalanche, and Milkomeda, as well as the possibility to connect to new networks quickly An advanced ecosystem with wallets, decentralized exchanges, NFTs, GameFi, and many other componentsPresent and future prices of The Everscale network (EVER)Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, EVER does fall under this category.According to some analysts, the future price of The Everscale network (EVER) could reach up to $0.2 by 2025 and could see a price of more than $1.32 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Everscale Price ChartSources: finance.yahoo.com, coinmarketcap.com, linkedin.com, technewsleader.com
Crude Oil Price: How Big Could The OPEC+ Supply Cut?

WTI Crude Oil Futures Falling As Demand Forecasts Look Grim, Palladium Futures, Coffee Futures Declining

Rebecca Duthie Rebecca Duthie 13.10.2022 09:10
Summary: WTI Crude oil dropped around 6% as demand forecasts deteriorated. Palladium futures up almost 13% in 2022. Coffee futures touching 6 week lows. WTI Crude Oil inventories increased WTI crude futures traded near $87 per barrel on Thursday, having dropped about 6% in the previous three days as a result of a deteriorating demand forecast and a significant increase in US crude inventories. On Wednesday, OPEC reduced its projections for the growth of the world's oil demand by 460,000 and 360,000 barrels per day, respectively. They cited high inflation, stagnant development in rich economies, and China's Covid lockdowns as reasons. The US Energy Department also reduced its projections for US and global consumption, with US consumption projected to climb by just 0.9% from a previous forecast of 1.7% in 2023 and by just 1.5% from a previous projection of 2%. US crude stockpiles rose by more over 7 million barrels last week, according to an industry report. Oil prices were also affected by the US Federal Reserve's hawkish minutes, in which the central bank vowed to retain interest rates at their current levels until inflation starts to decline. WTI Crude Nov ‘22 Futures Price Chart Palladium futures Since the start of 2022, the price of palladium has climbed by 242.31 USD/t oz., or 12.81%, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Palladium Dec ‘22 Futures Price Chart Coffee Futures touching 6 week lows As showers in Brazil's coffee belt may improve the crop forecast, Arabica coffee futures on ICE extended losses toward $2.15 per pound, approaching levels not seen in more than six weeks. Rainfall in Minas Gerais, which makes up around 30% of Brazil's arabica crop, is predicted to bring much-needed moisture and enhance prospects for the crop in the top producer in the world the following year. The most recent statistics revealed that on October 3rd, ICE-certified arabica stocks hit a new 23-year low of 417,306 bags. Coffee Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Chart of the Week - Gold Miners vs Energy Producers - 20.04.2022

German CPI Inflation Data Met The Markets Expectations

Rebecca Duthie Rebecca Duthie 13.10.2022 08:15
Summary: German CPY (YoY) CPI inflation data met market expectations. Looming european energy crisis. Initial market reactions. German CPI inflation data comes in at 10% Preliminary estimates showed that in September 2022, Germany's consumer price inflation spiked to 10 percent year-over-year, the highest level ever and significantly more than the 9.4 percent market projection. Following a worsening energy crisis in the biggest economy in Europe and ongoing supply chain disruptions, consumer prices have been rising. The German CPI inflation data was forecasted at 10% and came in at 10%, in addition the German CPI (MoM) data also met market expectations and remained equal to the previous months at 1.9%, this indicates that the largest European economy has not worsened despite fears. With the war in the Ukraine continuing, and the sanctions placed on Russia by the European Union, it is no secret that the European economies are facing problems, driven by a looming energy crisis. With winter approaching and a shortage of gas forecasted, prices have been rising. The European Central Bank’s (ECB) interest rate hawkish interest rate hiking cycle is showing no signs of slowing down, Inflation data from Europe's largest economy tends to be a clear indication of the performance of the rest of the European Economies. In the wake of the previous German CPI inflation data release, separate statistics revealed that previously, consumer and business expectations for greater inflation and a worsening financial situation caused the euro zone's economic mood to decline significantly and more than anticipated. The effect of the CPI Inflation Data on the Markets As CPI inflation continues to rise, consumer confidence continues to fall, the actual figures set up a strong case for the European Central Bank to continue on their interest rate hiking cycle path. The initial effect of the released data caused the EUR/USD to strengthen slightly, the EUR/GBP had the same effect, strengthening as the German Inflation rate remained high, yet stable. Sources: investing.com, reuters.com, dailyfx.com
European Markets Face Headwinds Amid Rising Yields and Inflation Concerns

NVIDIA (NVDA) Stock Price Dropped On Tuesday

Rebecca Duthie Rebecca Duthie 11.10.2022 19:37
Summary: The Biden administration's decision to limit electronics exports to China last week. Citigroup reduced Nvidia's price objective by $38 to $210 per share. Nvidia (NVDA) share price drops due to biden administration Following the Biden administration's decision to limit electronics exports to China last week, Nvidia (NVDA) led chip stocks lower on Tuesday amid a flurry of analyst downgrades and broader sector repricing. Late last week, Advanced Micro Devices (AMD) issued a warning regarding near-term revenue growth, and weakening PC and smartphone demand also put pressure on already-weak chipmakers. Additionally, President Joe Biden's decision to severely restrict the sale of equipment to China-based companies used in the production of advanced semiconductors gave further downside momentum. In the United States, Intel also suffered as a result of analysts at Wells Fargo lowering their price target on the chipmaker and noting a steep drop in near-term sales amid broader sector weakness. In contrast, Citigroup reduced Nvidia's price objective by $38 to $210 per share due to slowing growth rates in the market for cloud computing hardware. Nvidia shares fell 2.4% in early Tuesday trading to trade at $113.85 per share. The Biden administration announced further extensive restrictions on the sale of semiconductors and related equipment to China on Friday. Then, today, the International Monetary Fund (IMF) lowered its projection for global growth, hurting morale as well. And to top it all off, the Chinese government has decided to lock down major cities once more in an effort to stop the spread of COVID-19, which has recently caused supply chain issues. The new limits on high-end processor sales to China could notably hurt Nvidia. Although the administration had already ordered Nvidia to stop selling its top-tier data center GPUs to China back in late August, the administration's latest limitations on equipment sales to China last week only serve to further cement the two nations' technical separation. It's important to note that Nvidia estimated that the limits would affect around $400 million in revenue, or about 7% of projected revenue, if they were completely enforced. NVDA Price Chart Sources: finance.yahoo.com, thestreet.com, fool.com
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

Eurozone Confidence Declining (EUR/USD), GBP Under Pressure (EUR/GBP)

Rebecca Duthie Rebecca Duthie 11.10.2022 16:38
Summary: The Euro continues its battle with the US Dollar. UK's trillion-pound debt markets are buckling under the weight of further Bank of England interventions. Sterling found support early in the new week against the CAD. Euro on the decline as recession fears persist The market is reflecting bearish signals for this currency pair. The Euro's battle with the dollar continued into the new week as a risk-off mindset and increasing yields put the dollar in the lead. We witnessed a spike in geopolitical tensions between Russia and Ukraine as a result of a number of missile attacks that Russian President Vladimir Putin said were in response for the bombing of a bridge that connects Russia to the Crimean Peninsula. As recession fears persist, confidence in the Eurozone keeps declining. Another 75bp increase from the European Central Bank (ECB) is still anticipated later this month, which is necessary given the most recent double-digit inflation reading. Regarding the rate hike path required to control inflation, US Fed policymakers last week seemed to be singing from the same hymn book. Lael Brainard and Charles Evans, two well-known doves, yesterday broke with the rhetoric and used a tad more dovish language. EUR/USD Price Chart GBP is under pressure The market is reflecting mixed signals for this currency pair. The British pound is under pressure amid indications that the UK's trillion-pound debt markets are buckling under the weight of further Bank of England interventions. The Bank of England said on Tuesday that index-linked gilts will now be a part of its expanded gilt purchasing program. Given that UK RPI inflation was 12.3% in August, these gilts (UK government bonds) are understandably becoming more expensive for the government. But considering that the new administration decided to spend a lot of money on subsidizing family energy costs while simultaneously lowering taxes, the UK's bond market has suffered more than others. EUR/GBP Price Chart GBP supported against the CAD The rise in the Pound to Canadian Dollar exchange rate that began in the month of October has since experienced a corrective decline, but Sterling found support early in the new week just above the 1.51 handle and may now be expected to temporarily consolidate its recovery. If Sterling continues to accept the most recent developments in the UK government bond market, where the Bank of England (BoE) has been providing emergency liquidity to address issues related with some pension funds, it may find more support this week around the latter level. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Altcoins: Pandorium (PAN) - What Is It? - A Deeper Look Into the Pandorium (PAN) Platform

Altcoins: Pandorium (PAN) - What Is It? - A Deeper Look Into the Pandorium (PAN) Platform

Rebecca Duthie Rebecca Duthie 11.10.2022 14:43
Summary: What is The Pandorium and how does it work? What makes the Pandorium exchange unique? Pandorium’s present and future price positions. The Pandorium exchange Describe Pandora. An Unparalleled Approach to DeFi By relying on AMM, GameFi, and multitasking NFTs, Pandora creates a revolutionary, decentralized PandoVerse that is holistic and transforms people's interactions with DeFi on an emotional as well as a financial level. The dual-token approach and inclusive incentive structure of Pandora's next-generation decentralized ecosystem benefit both merchants and farmers. The Pandora protocol is centered on NFT gaming and AMM, and it is powered by two unique tokens: the reward token Pandorium and the governance token Pandora Spirit (PSR) (PAN). By introducing a governance token called PSR that was totally pre-mined and has a deflationary burning mechanism, Pandora avoids the drawbacks of traditional decentralized protocols. The main motivation for Pandora's user base is the reward token PAN. Its minimum value will be determined by the jackpot and the NFT staking pool. The value of PAN cannot go below its minimal value at any time in the future. PAN should have a limitless supply, however as of the writing of this article, 5,777,315 PAN were in use. Additionally, 3,468,972 PAN were burned. Pandora ecosystem's reward token is called Pandorium (PAN). It encourages users' participation in the PandoVerse, which is a component of the system's gamification. Users can easily earn PAN by transacting on Pandora's exchange thanks to the Trade Mining system. Users can also purchase PAN on the exchange or participate in PandoFarms and PandoPools to obtain it. The best cryptocurrency exchanges for trading Pandorium stock at the moment are PancakeSwap (V2) and Pandora, if you're interested in finding out where to acquire it at the current price. On our website for crypto exchanges, you may find more. Pandorium’s Uniqueness Users have a right to the great majority of the revenue earned by the protocol because they are the protocol's true proprietors. Additionally, Pandora uses trade mining and profit sharing to entice both farmers and traders to play the game. A dual-token system used by Pandora operates in a rewarding and deflationary manner. Users will gain from long-term income and economic stability (secure income stream for farmers in the form of a share of the protocols revenues, accumulated rewards for traders). The protocol uses both the jackpot and the probabilistic process to add a sense of chance to its offerings in order to pique users' interest. Advantages of the Pandorium exchange Utilize Atomex to exchange XYO Network for Pandorium on-chain! You receive a pure cross-chain conversion of your funds in a peer-to-peer trustless way when you exchange XYO to PANDORIUM on Atomex DEX. You can benefit from Atomex's competitive rates, lack of DEX fees, lack of slippage or market impact costs, lack of KYC requirements, 24/7 deep liquidity, cryptographically verified security, and interesting blockchain technology. You may swap XYO Network for Pandorium directly from the Atomex App. To select the preferred platform version of the Atomex App, simply visit the download page. Present and future prices of The Pandorium network (PAN) The price of PAN started relatively high, and reached its peak in late July 2022 at a price of $0.015. Thereafter, the price has consistently fallen, to date. PAN's price dropped by 32.13% in the past month, going from its previous value of $0.006708 to $0.002155. Due to the decline, Pandorium is currently in a dip, which suggests that now would be a good time to purchase PAN. Pandorium's price has decreased by 69.05% over the last 90 days, dropping from $0.014711 to $0.010158. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, PAN does fall under this category. According to some analysts, the future price of The Pandorium network (PAN) could reach up to $0.0218 by 2025 and could see a price of more than $0.044 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Pandorium Price Chart Sources: finance.yahoo.com, coinmarketcap.com, atomex.me, pricepredictions.com
Chile's Lithium Nationalization and the Global Trend of Resource Nationalism: Implications for EV Supply Chains and Efforts to Strengthen Battery Metal Supply

NGAS Inventories Strong, Cotton Futures, Gold Futures Decline For 5th Straight Session

Rebecca Duthie Rebecca Duthie 11.10.2022 11:14
Summary: US NGAS futures trading low for the past 10 sessions. Golds price decline fueled by a strengthening USD and rising Treasury yields. Cotton crops are in danger due to unfavorable weather and pest infestations. NGAS trading close to 3-month lows For the tenth session running, US natural gas futures have traded below $7/MMBtu, close to the 3-month low of $6.3/MMBtu reached on October 3, and far below the 14-year high of $9.65/MMBtu reached on August 22. This is because production is still at record highs and utilities are able to add more gas to storage due to milder than usual weather. The US utilities added 129 billion cubic feet (bcf) of gas to storage in the week ending September 30th, exceeding market forecasts of a 113 bcf build, according to the EIA, which recorded the highest weekly gains in domestic inventories ever. According to Refinitiv, average gas production in the Lower 48 US states increased to a record 100.1 bcfd so far in October from a previous high of 99.4 bcfd in September. Reduced LNG shipments and a decline in demand brought on by Hurricane Ian's power outages also had an impact on gas prices. NGAS Nov ‘22 Futures Price Chart Gold declining amidst predictions of aggressive Fed Tuesday's decline in gold prices, which was the fifth straight session, was fueled by a strengthening dollar and rising Treasury yields amid predictions that the US Federal Reserve will continue with its aggressive tightening policies. Such a notion was reinforced by a better-than-expected US jobs report on Friday, and markets now anticipate US inflation data on Thursday, FOMC minutes on Wednesday, and other Fed officials' appearances this week for additional cues. On the other hand, Fed Vice Chair Lael Brainard stated on Monday that the Fed will be guided by incoming data as the full impact of prior rate rises become clear. She also emphasized the necessity for tight monetary policy to lower inflation. The IMF and World Bank warned of a rising possibility of a worldwide recession, as advanced economies stagnate and persistent inflation increases pressure on major central banks to hike interest rates further. This warning left markets on edge. Gold Dec ‘22 Futures Price Chart Cotton trading low As traders assessed the possibilities of larger supplies and lower demand due to quicker rate hikes and economic uncertainties, cotton futures traded below, a level not seen since July 2021. Regarding the supply, the USDA's most recent report showed that the crop of US cotton increased from 12.48 million acres in August to 13.79 million acres in September, or over 19% more than the 11.22 million acres planted in 2021. 375 lakh bales are anticipated to be produced in India, another major producer, during the season 2022–23, assuming that the weather is cooperative through October. Crops are still in danger because of unfavorable weather and pest infestations in the main growing regions. Cotton Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Mexican Rate Spread: Tight vs. Central Bank's Rate Spread and Implications for Dis-inversion

UK Average Earnings Index + Bonus Beats Market Expectations

Rebecca Duthie Rebecca Duthie 11.10.2022 08:24
Summary: The UK average earnings index + bonus came in bullish/bearish. The GBP is predicted to avoid reaching parity with the USD but will continue to trade at historically low levels. UK Average Earnings beat market expectations For August 2022, the rate of UK Average Earnings Index + Bonuses was 6.0% and the rate for unemployment was 3.5%. The rates of growth in both total and regular pay are comparable, which has not been the case for a while. The market expectation for the UK average earnings index + bonus was set at 5.9%, the UK succeeded in beating the market's expectations for the month of August. The reading showed a higher than expected Average Earnings Invex and should be interpreted as bullish or positive for the pound. The Average Earnings Index tracks changes in the amount that the government and businesses are willing to pay for labor, including bonuses. The Average Earnings figure provides us with a good indicator of the growth in personal income for the particular month. UK Average Earnings effect on the economy Highlights from the most recent survey reveal that over the rest of the year and into early 2023, the pound is predicted to avoid reaching parity with the dollar but will continue to trade at historically low levels. The U.K. economy has been running out of workers, even as it slows considerably under the weight of the ongoing cost-of-living problem, according to figures released for the month of July. According to the Office for National Statistics, employment growth slowed significantly in the three months leading up to July as the labor pool dried up due to the summer's heat waves and the pandemic's aftereffects. However, now it seems that the UK economy is a little more well supported. Higher than expected data indicates that the Bank of England's tightening of monetary policy is having some sort of an impact on wages, which, however, are still growing too slowly to keep up with the still-rising annual inflation rate. The initial market reaction to the release of this data showed the pound sterling weaken against the EUR and the USD. Sources: investing.com, ons.gov.uk, poundsterlinglive.com
US Economic Data Due Later This Week (EUR/USD), GBP Supported By Strong Fiscal Data (EUR/GBP, GBP/AUD)

US Economic Data Due Later This Week (EUR/USD), GBP Supported By Strong Fiscal Data (EUR/GBP, GBP/AUD)

Rebecca Duthie Rebecca Duthie 10.10.2022 18:16
Summary:The Euro Area is not expected to disclose many significant economic data points this week. The British Pound was stronger against the Euro.USD remains strongly supportedThe market is reflecting bullish signals for this currency pair. The prognosis for the single currency will probably be influenced by US data releases over the next few days since the Euro Area is not expected to disclose many significant economic data points this week. Later in the week, with the major release of the September inflation figures on Thursday, the major US economic reports begin. The US dollar is still strongly supported while the Euro appears to be moving lower in a one-way fashion, therefore EUR/USD is moving lower on the best of all worlds scenarios. EUR/USD Price ChartUK began the week with good news on the fiscal frontThe market is reflecting bullish signals for this currency pair. Beginning a new week with good news on the UK's fiscal front and the development of a new facility at the Bank of England to ensure domestic money markets stay stable, the British Pound was stronger against the Euro and stable against the US Dollar. To reassure markets that the government's economic strategy is sound, the Treasury announced it is pushing back the release of independent economic predictions and a vital fiscal policy update until October 31. The independent Office for Budget Responsibility will also issue an economic and fiscal forecast in addition to the Medium-Term Fiscal Plan, according to the Treasury. EUR/GBP Price ChartAUD weaker amidst lower demand exports from chinaWhile their colleagues at Goldman Sachs claim to have recently revised lower their estimates for the currency, notably against the Pound, Credit Suisse analysts continue to remain gloomy on the Australian Dollar. The decline in growth prospects caused by the Ukraine crisis, the stalling of Chinese GDP, and anticipation of further Federal Reserve interest rate increases have all contributed to the continued decline in global equities markets. Meanwhile, one particular obstacle facing the Australian dollar is the slowing demand for Australian commodities coming from China. GBP/AUD Price ChartSources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Oil Is An Indicator Of The Health Of The Global Economy

Silver Futures Prices Falling, Brent Crude Supplies Expected To Be Tight, Corn Futures

Rebecca Duthie Rebecca Duthie 10.10.2022 13:25
Summary: Brent crude oil rising as fears around tight supplies continue. Hawkish Fed driving bullion prices down. Corn futures prices raised by 17.25% in 2022. Brent Crude oil faces a weaker demand outlook On Monday, traders balanced a major output cut by OPEC+ that promises to further tighten supply ahead of winter against a weaker demand outlook resulting from increasingly tighter monetary circumstances. Brent crude futures slipped toward $97 per barrel. Fears that the Federal Reserve may boost borrowing costs to onerous levels increased as a result of the US job market's continued tightness and the country's officials' steadfast hawkish posture, which also fueled worries about the demand and the global economy. The global oil benchmark also increased by around 15% last week as OPEC+ decided to reduce production by 2 million barrels per day, or roughly 2% of the world's supply, starting in November. This would be the largest output reduction since the pandemic's inception. Russia's threat that it won't sell oil to nations who support the US-led effort to impose a price restriction on Russian oil was reinforced last week, adding to supply fears. Brent Crude Oil Futures Price Chart   Silver drops as hawkish fed continues After temporarily reaching a three-month high of $21, spot silver traded around $20 per ounce in October as expectations that the Fed will maintain its hawkish monetary policy stance returned, pushing up the dollar and bond yields. In the meantime, the amount of silver kept in the London Bullion Market Association (LBMA) vaults has steadily decreased over the past nine months, reaching a record-low level of 28,506 tonnes valued at $16.4 billion, or roughly 950,208 silver bars. According to the LBMA, this is the least amount of silver stored in vaults since reporting began in July 2016. Silver Dec ‘22 Futures Price Chart Corn futures Since the start of 2022, corn prices have climbed by 102.31 USd/BU, or 17.25%, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Corn Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
US Dollar Supported By Unemployment Rate Data Release & US Non-Farm Payrolls

US Dollar Supported By Unemployment Rate Data Release & US Non-Farm Payrolls

Rebecca Duthie Rebecca Duthie 07.10.2022 19:26
Summary: The US unemployment rate decreased to 3.5%. The nation added 263,000 payrolls in September as opposed to the 250,000 expected.US Unemployment rate exceeded market expectationsAfter the release of U.S. labor market data that revealed a strong economy and could encourage the Federal Reserve to continue its strategy of aggressive interest rate hikes, the Dollar rose substantially against the Euro, the British Pound, and the majority of other currencies.The U.S. dollar, as measured by the DXY index, surged higher following the announcement of the September jobs report, helped by a significant increase in U.S. Treasury yields. The S&P 500 and Nasdaq 100 futures both fell more than 1.5% at the time of writing, entering negative territory. Strong labor market data will probably keep the Fed on a hawkish course, driving policymakers to announce additional interest rate increases and preventing them from hastily shifting to a dovish stance. The U.S. dollar should benefit from this situation, but stocks may face significant challenges.In spite of stubbornly high inflation, slowing growth, and higher borrowing costs, U.S. firms kept on hiring at a strong rate at the end of the third quarter, showing that the Federal Reserve's front-loaded hiking cycle has not yet resulted in significantly less demand for workers. The U.S. Department of Labor reports that after an unrevised gain of 315,000 in August, the nation added 263,000 payrolls in September as opposed to the 250,000 expected. The jobless rate, meanwhile, decreased to 3.5%, matching one of its lowest points in decades.The data released today demonstrate that despite two consecutive quarters of negative GDP readings and one of the most ferociously tightening cycles of monetary policy since the 1980s, the labor market is still strong and exceptionally tight. The analysis refutes assertions of widespread hiring freezes and significant layoffs across the nation and undermines the recession narrative.In the wake of the release of the metrics, the EUR/USD currency pair weakened, the USD/JPY pair strengthened, the S&P 500 has fallen by around 2.6% and Bitcoin has fallen by more than 3.3% during the trading day. As the US continues to strengthen and concerns around a possible recession continue, the markets continue to be sensitive to this data.Sources: dailyfx.com, poundsterlinglive.com
Chile's Lithium Nationalization and the Global Trend of Resource Nationalism: Implications for EV Supply Chains and Efforts to Strengthen Battery Metal Supply

OPEC+ To Reduce Production By 2 Million Barrels Per Day, Gold Futures Up 3% This Week, Cotton Futures

Rebecca Duthie Rebecca Duthie 07.10.2022 12:49
Summary: Brent Crude Oil expected to rise by 11% this week. Gold prices could come under pressure thanks to US Non-farm payroll data. Investors considered the likelihood of more supply and less demand of cotton. Brent Crude Oil expected to rise by 11% this week As OPEC+ agreed to reduce production by 2 million barrels per day, or about 2% of the world's supply, starting in November, the price of Brent crude futures held above $94 per barrel on Friday and was expected to rise by about 11% this week. This decision threatens to further tighten supply ahead of the winter season. Although Saudi Arabia's oil minister said the actual reduction will likely be closer to 1 to 1.1 million barrels because several members are already pumping below targets, that would still represent the largest output decrease since the outbreak began. On Thursday, US President Joe Biden expressed disappointment with the OPEC+ decision and stated that the US was looking for measures to prevent prices from rising. Following the OPEC+ decision, Goldman Sachs considerably increased its oil price projection, predicting that Brent prices will reach $104 per barrel this year and $110 per barrel in 2023. Russia once more issued a warning this week that it won't sell oil to nations who back the US-led effort to set a price restriction on Russian oil, adding to supply fears. Brent Crude Oil Futures Price Chart Gold prices risen by 3% this week In the lead-up to the monthly US jobs data that could provide new insights on the Federal Reserve's rate hike path, caution predominated in the market, and gold prices remained muted around $1,710 an ounce on Friday. They have been trading in a range for the past three sessions. The nonfarm payrolls report, which is due later on Friday, is anticipated to indicate that the US economy generated 250,000 jobs in September. If the number is higher than anticipated, rate hike bets will increase and gold prices would be further pressured. The metal has fluctuated throughout the week as opinions on US monetary policy have changed; initially, weak US data drove bullion higher on expectations for a slower pace of tightening, but by the end of the week, pressure from strong US data and hawkish comments from US policymakers had put the metal under pressure. Gold prices, however, have increased by about 3% so far this week and were on track to post their largest weekly gains since March. Gold Dec ‘22 Futures Price Chart Cotton supply expected to increase Trading in cotton futures was below 90 USd/Lbs, a level not seen since July 2021, as investors considered the likelihood of more supply and less demand as a result of accelerated rate hikes and a deteriorating economy. Regarding the supply, the USDA's most recent report showed that the crop of US cotton increased from 12.48 million acres in August to 13.79 million acres in September, or over 19% more than the 11.22 million acres planted in 2021. 375 lakh bales are anticipated to be produced in India, another major producer, during the season 2022–23, assuming that the weather is cooperative through October. Crops are still in danger because of unfavorable weather and pest infestations in the main growing regions. Cotton Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
U.S Dollar Remains Supported (EUR/USD), High Inflation Could Drive UK Economy Into A Recession (EUR/GBP, AUD/GBP)

U.S Dollar Remains Supported (EUR/USD), High Inflation Could Drive UK Economy Into A Recession (EUR/GBP, AUD/GBP)

Rebecca Duthie Rebecca Duthie 06.10.2022 18:55
Summary: Ongoing devaluation of other currencies by the U.S. Dollar. Decreased predictions for UK economic growth. Australia's trade surplus decreased in August despite an increase in imports. U.S Dollar remains in high demand The market is reflecting mixed signals for this currency pair. According to International Monetary Fund (IMF) data, the ongoing devaluation of other currencies by the U.S. Dollar consumed more than $500BN of official reserves in the second quarter, and it can be inferred reasonably from this that the reserve cost of the Dollar rally exceeded $1 trillion in September. The dollar was again in demand throughout the trading afternoon on Wednesday, but noticeably more so after the Institute for Supply Management (ISM) Services PMI for September tended to portray the key sector of the American economy as being more resilient than forecasts had predicted. EUR/USD Price Chart Predictions for UK economy looks poor The market is reflecting mixed signals for this currency pair. According to economists, a worse recession would result in larger losses for the pound. They are also decreasing their predictions for UK economic growth. Economic experts predict that high inflation will cause the UK economy to enter a recession, but rising interest rates due to external reasons and the market's response to the "mini budget" will widen the extent of the slump. "The cost of living crisis will be exacerbated by a cost of borrowing crisis," explains Capital Economics in a new note in which they say they now expect a deeper recession than previously forecast. EUR/GBP Price Chart Australian Trade Surplus decreased Another data release confirming Australia's continued trade surplus helped the Australian dollar gain strength, but analysts warn that a peak in commodity prices and challenges to the global economy raise the possibility of underperformance. According to the ABS, Australia's trade surplus decreased in August despite an increase in imports. A positive trade surplus suggests that a nation is generating more foreign currency than it is spending, which provides a fundamental source of support for a currency. Australia's trade surplus has increased over the past few months as the value of its commodities exports has soared and amid a fall in demand for imports brought on by the Covid-induced economic slowdown. However, the trade surplus is shrinking due to indications that commodity prices have peaked, a continued post-covid recovery, the increase in the price of other significant imports, and these factors together. AUD/GBP Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
OPEC+ To Reduce Oil Output By 2 Million Barrels Per Day

OPEC+ To Reduce Oil Output By 2 Million Barrels Per Day

Rebecca Duthie Rebecca Duthie 06.10.2022 17:08
Summary: OPEC+ to reduce output to drive up prices. Energy costs have risen as a result of the supply shortage. OPEC+ decision to reduce oil output The biggest reduction in production since the epidemic began in 2020, OPEC+ said on Wednesday, October 5, that it will cut output by 2 million barrels per day (bpd). The decision was quickly criticized by the White House as "shortsighted," and the oil cartel was charged with "aligning with Russia." President Joe Biden's advice to refrain from taking such a dramatic measure has not been heeded by Saudi Arabia, which controls approximately one-third of OPEC's oil reserves and is seen as a US ally. In order to persuade the de facto ruler of the kingdom, Crown Prince Mohammed Bin Salman, to increase the number of barrels pumped, Biden visited the country in the Middle East three months ago. The output decrease is intended to raise oil prices back to the triple digits of dollars after a four-month decline. Oil prices have already risen to more than $90 a barrel as a result of anticipation of OPEC's decision this week. Saudi Arabia's move, which is probably motivated by politics and oil pricing equally, reminds the West who is in charge of this valuable resource and has caused the US to rethink its foreign policy goals, including sanctions against Venezuela. OPEC+ decision effects Due to underproduction by OPEC and its partners, the actual production reduction will be less than 2 million. The coalition fell short of its goals by 3.58 million barrels per day in August. In Nigeria, for instance, pipeline theft and vandalism caused oil production to reach a 32-year low. The true cuts will only amount to about 1 million bpd, according to Saudi Energy Minister Abdulaziz bin Salman, and analysts estimate even smaller reductions, as reported by Reuters. Energy costs have risen as a result of the supply shortage, which has been made worse by Russia's involvement in the conflict in Ukraine. Biden used the US Strategic Petroleum Reserve earlier, in May, to control the rise in oil prices and, consequently, gasoline costs. He might have to turn to releasing more oil after the OPEC+ cuts. Crude Oil Nov ‘22 Futures Price Chart Sources: finance.yahoo.com
Australia Is Expected To Produce A Bumper Year Of Crops

Platinum Futures, Wheat Trading At 3-month Highs, OPEC+ Cuts Gasoline Output By 2million Barrels Per Day

Rebecca Duthie Rebecca Duthie 06.10.2022 13:10
Summary: After falling for around 100 days, gasoline prices in the US are now rising. Chicago wheat futures were trading, close to the highest price since the end of June. Platinum futures rose 4.25% during 2022. Platinum futures According to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity, platinum has dropped 40.90 USD/t oz. or 4.25% since the start of 2022. Platinum Jan ‘23 Futures Price Chart Wheat supply shortages expected In October, Chicago wheat futures were trading, close to the highest price since the end of June due to worries about a shortage of supply. Concerns that Russia would terminate the secure trade route from Ukrainian Black Sea ports that was agreed to in a deal mediated by the UN arose after Russia invaded Ukrainian land and threatened to use nuclear force. The 2022 wheat harvest was also at its second-smallest level in 20 years due to the dry and hot weather in the US. In its annual Small Grains Summary report, the USDA estimated the US wheat harvest at 1.650 billion bushels, which was below than market expectations of 1.778 billion bushels and predictions from August of 1.783 billion bushels. Wheat Dec ‘22 Futures Price Chart Rising Gasoline prices threaten to harm consumers further After falling for around 100 days, gasoline prices in the US are now rising, posing a fresh threat to consumers who have already been suffering from widespread inflation for more than a year. A 14-day stretch of rising gas prices is the result of upkeep at fuel production facilities, increased demand, and limited fuel supply. According to OPIS, an energy-data company that is a division of Dow Jones & Co., the publisher of The Wall Street Journal, a gallon of normal cost around $3.831 on Wednesday. Analysts predict that the agreement to reduce oil production by 2 million barrels per day by the Organization of the Petroleum Exporting Countries and its allies led by Russia on Wednesday will result in a further increase in oil prices. The White House announced that it would look at ways to protect American consumers, calling the action unwise. Analysts anticipate that most drivers won't have to deal with $5 gas as they did in June, in part because wintertime demand is usually lower. Although refiners convert to producing winter-grade fuel blended with butane at this time of year, which has reduced production costs and is therefore more affordable, prices are still unusually high, according to Richard Joswick, head of global oil analytics at S&P Global Platts. RBOB Gasoline Nov ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com, wsj.com
RBNZ “Hawkish” Move Offers NZD Support, Australian Retail Sales Rose 0.6% During August

RBNZ “Hawkish” Move Offers NZD Support, Australian Retail Sales Rose 0.6% During August

Rebecca Duthie Rebecca Duthie 06.10.2022 09:55
Summary:RBNZ interest rate hike hawkish.Australian Retail MoM met expectationsRBNZ Interest rate decisionThe Reserve Bank of New Zealand (RBNZ) increased interest rates by 50 basis points to 3.5%, in line with market forecasts, but also made clear that it was considering raising rates even more. "NZD is off the overnight highs, but still outperforming after the RBNZ delivered the 50bp hike expected and considered a larger move," says Adam Cole, Chief Currency Strategist at RBC Capital Markets.The RBNZ stressed the need to "continue to tighten monetary conditions at pace" in its statement. In contrast, the Reserve Bank of Australia (RBA) stunned markets on Tuesday by increasing rates by 25 basis points rather than 50, indicating that its cycle of rate increases was about to come to an end. As a result, the Australian Dollar dropped significantly, and investors bet that the New Zealand Dollar would experience a similar fate.According to Cole, the RBNZ also recognized the increasing pressure on pricing from a weaker NZD. The recent collapse in the New Zealand Dollar—the worst performing major currency over the previous month—means that import prices will go up, escalating inflationary pressures. This is especially important in light of the present inflationary cycle, which is being caused by constrained supply chains and rising commodity costs. Therefore, the currency will continue to be important in predicting future changes in interest rates.Australian Retail Sales Meets market expectationsAustralian MoM retail sales data for august met market expectations, coming in at 0.6%. Unrevised from the flash figures and following a final 1.3% increase in July, retail sales in Australia increased by 0.6% mum to a brand-new record amount of AUD 34.88 billion in August 2022. This was the seventh consecutive month that retail sales rose, with increases in both food retailing (1.1% vs. 1.2%) and cafe, restaurant, and takeaway sales (1.3% vs. 1.8% in July). Additionally, department store sales increased for the second consecutive month (2.8% vs. 3.8%), and sales of domestic products in stores saw their biggest increase since March (2.6%), after declining for the previous four months. Contrarily, other retailing experienced its first decline in six months and the biggest this year (-2.5% vs. 1.6%). Clothing also saw its biggest fall this year, down 2.3% after gaining in the prior 2 months. Sales grew in Tasmania (2.2%), the Australian Capital Territory (1.9%), New South Wales (1.5%), South Australia (1.3%), and Victoria (0.1%), while fell in Western Australia (-0.2%) and Queensland (-0.1%).Sources: poundsterlinglive.com, fxempire.com
Euro Strength Could Be Transitory (EUR/USD), EUR/GBP, RBNZ Met Market Expectations With Interest Rate Hike (NZD/USD)

Euro Strength Could Be Transitory (EUR/USD), EUR/GBP, RBNZ Met Market Expectations With Interest Rate Hike (NZD/USD)

Rebecca Duthie Rebecca Duthie 05.10.2022 19:52
Summary:According to Credit Suisse analysts, the EUR/USD currency pair is still in a downward trend.The Pound has had a volatile year.RBNZ 50bps interest rate hike.U.S. labor market numbers that were released on Tuesday were softer than expectedThe market is reflecting bullish signals for this currency pair. Analysts agree that it is too soon to predict a turn in the Euro to Dollar exchange rate (EUR/USD), with one at a large investment bank predicting fresh lows over the next several weeks. According to Credit Suisse analysts, the EUR/USD currency pair is still in a downward trend and that the Eurozone is still experiencing "fiscal issues" as a result. 4% counter-trend rebounds, according to them, should be anticipated given historical data. The results of a monthly currency market research report confirm that recent Euro strength is likely to be transitory and that it would be premature to speculate on a market "pivot." The U.S. labor market numbers that were released on Tuesday were softer than expected, which led market investors to speculate on whether the economy was now slowing sufficiently to cause the Federal Reserve to rethink its aggressive interest rate hike program. EUR/USD Price ChartGBP volatilityThe market is reflecting bearish signals for this currency pair. The International Monetary Fund (IMF) recently released data indicates that this was also a time when central bank managers of official reserves reduced their exposures to a variety of currencies, including Sterling. The Pound has had a volatile year, with some of its biggest losses occurring during the second quarter. Recent improvements in the pound's value relative to the US currency have been attributed to both Chancellor Kwasi Kwarteng's Monday U-turn and a probable Fed pivot following disappointments in key US economic statistics (ISM manufacturing PMI and job openings). EUR/GBP Price ChartNZD supported in the wake of RBNZ interest rate decisonThe market is reflecting mixed signals for this currency pair. As expected, the RBNZ increased rates by 50 basis points to 3.50%. The central bank considered boosting interest rates by 50 or 75 basis points and decided that a steady rate increase is suitable. It is their fifth consecutive 50 bp. NZD/USD immediately reacted by moving higher as traders found solace from the Reserve Bank of Australia's (RBA) unexpected dovish hike earlier this week. Surprisingly, the RBNZ was hawkish in its statement:"The Committee considered whether to increase the OCR by 50 or 75 basis points at this meeting. Some members highlighted that a larger increase in the OCR now would reduce the likelihood of a higher peak in the OCR being required." NZD/USD Price ChartSources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
WTI Crude Oil Gains After 4-Months, Palladium Futures, Rainfall To Improve Coffee Crop

WTI Crude Oil Gains After 4-Months, Palladium Futures, Rainfall To Improve Coffee Crop

Rebecca Duthie Rebecca Duthie 05.10.2022 12:10
Summary: OPEC+ meeting on Wednesday driving WTI Crude Oil prices. Rainfall in Brazil may improve coffee crop. WTI Crude Oil rising after 4 months After rising about 9% in the previous two days, WTI crude futures maintained close to $86 per barrel on Wednesday as investors prepared for an OPEC+ meeting where it is anticipated that a significant supply cut will be announced to bolster oil prices. The cartel is expected to meet in Vienna on Wednesday and is reportedly considering lowering production by as much as 2 million barrels per day, which is double the amount previously signaled and would be the largest reduction in output since the peak of Covid-19 lockdowns. The impending EU ban on Russian petroleum, which is scheduled to go into force in December, and a US-led plan to place a price cap on Russian oil also cast a shadow over the situation, and President Vladimir Putin threatened to retaliate by cutting off supply. The commodity markets were under pressure due to tighter monetary conditions, concerns of a recession, and a strong dollar. This week's gains came after four straight months of losses. As the organization was already having trouble meeting its output goals, concerns about the efficiency of the OPEC+ supply curbs continued. WTI Crude Oil Futures Price Chart Palladium climbed 21.61% since the start of 2022 Since the start of 2022, the price of palladium has climbed by 408.94 USD/t oz., or 21.61%, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Palladium Dec ‘22 Futures Price Chart Coffee futures may be on the fall As showers in Brazil's coffee belt may improve the crop forecast, Arabica coffee futures on ICE extended losses toward $2.15 per pound, approaching levels not seen in more than six weeks. Rainfall in Minas Gerais, which makes up around 30% of Brazil's arabica crop, is predicted to bring much-needed moisture and enhance prospects for the crop in the top producer in the world the following year. The most recent data revealed that on September 30th, ICE-certified arabica stockpiles were at 426,180 bags, the lowest level in 23 years. Coffee Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Sticky US Inflation Expected to Maintain Dollar Strength Ahead of FOMC Meeting

Elon Musk To Go Through With Twitter (TWTR) Deal After All

Rebecca Duthie Rebecca Duthie 05.10.2022 11:25
Summary: On Tuesday Musk renewed his offer to buy Twitter. TWTR share price jumped in the wake of the news. “X, the everything app” TWTR stock price jumped Elon Musk attempted to pull out of the high-profile transaction, but on Tuesday he renewed his offer to pay $44 billion for the social networking site Twitter. The Tesla entrepreneur suggested the price in a letter to Twitter that was sent on Monday to the Securities and Exchange Commission. The price is equal to the original valuation of $54.20 per share. Late on Tuesday, Mr. Musk finally spoke up about the deal, writing on Twitter, "Buying Twitter is an accelerant to inventing X, the everything app." The price of the social network's stock increased so dramatically when it was revealed that Elon Musk is trying to restart his acquisition of the company that runs it that the New York Stock Exchange twice had to temporarily halt trading, according to the Wall Street Journal. The "Flash Crash" of 2010 prompted the implementation of such pauses, which begin when stocks on major indexes change price by more than 5% in less than five minutes. On Tuesday, Twitter shares increased by at least 12% at various points as Elon Musk declared he would stick with his original $44 billion offer to buy the social media platform. After purchasing Twitter Inc., Elon Musk teased "X, the everything app." According to the billionaire's prior remarks, the service may resemble the popular Chinese app WeChat. Beyond a single-line tweet, Musk didn't offer much information. However, the CEO of Tesla Inc. has admitted to admiring the Tencent Holdings Ltd. app, which has evolved from a messaging service to a mini-internet used by more than a billion people from China users daily. He has expressed thoughts on improving Twitter, saying he wants it to be more like WeChat and TikTok, the popular video-sharing app owned by ByteDance Ltd. that has gained popularity in the US. He also drew comparisons to the so-called "super apps" that are popular in some parts of Asia and allow users to access a variety of services from communications to car summoning using a single smartphone application. TWTR Price Chart Sources: finance.yahoo.com
USD Falls 3.3% From Wednesday's High (EUR/USD), UK Chancellor Moves Up Fiscal Plan (EUR/GBP), RBA Missed Market Expectations (GBP/AUD)

USD Falls 3.3% From Wednesday's High (EUR/USD), UK Chancellor Moves Up Fiscal Plan (EUR/GBP), RBA Missed Market Expectations (GBP/AUD)

Rebecca Duthie Rebecca Duthie 04.10.2022 20:40
Summary: The US dollar has fallen by as much as 3.3%. GBP supported in the wake of Kwarteng plans to move up the publishing of his fiscal plan. RBA interest rate announcement. Investors wonder if the USD has peaked The market is reflecting bullish signals for this currency pair. Since the high of last Wednesday, the US dollar has fallen by as much as 3.3%, and many are wondering if the USD has peaked. Given how severely overbought the dollar had been, this retreat appears to be a trend correction without any indication of anything bigger. Price is getting close to some important support, though, and how it performs around those levels will be crucial for deciding on a short-term course of action. EUR/USD Price Chart GBP supported on Tuesday In an effort to restore market confidence, Chancellor of the Exchequer Kwasi Kwarteng announced he was moving up the publishing of his fiscal plan, which gave the British Pound another lift. Originally slated for distribution on November 23, the plan will instead be given later this month, according to a story published late Monday. Importantly, a complete set of estimates from the Office for Budget Responsibility will be included with the proposal (OBR). The developments ensured a late-session rise in the pound sterling on Monday, resulting in a 1.15% increase in the pound's value relative to the euro. The improvements coincide with the pound's larger resurgence as markets restore their faith in UK assets after a turbulent time. EUR/GBP Price Chart RBA weaker in the wake of interest rate announcement The Australian Dollar fell when the Reserve Bank of Australia (RBA) announced a 25 basis point increase in interest rates, indicating that the peak in Australian interest rates was approaching. Markets anticipated another 50bp increase, but the action caught them off guard. The RBA stated in a statement that additional interest rate hikes were still necessary to reduce inflation, although economists now believe only one more increase is now expected. GBP/AUD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Altcoins: Powerledger (POWR) - What Is It? - A Deeper Look Into the Powerledger (POWR) Platform

Altcoins: Powerledger (POWR) - What Is It? - A Deeper Look Into the Powerledger (POWR) Platform

Rebecca Duthie Rebecca Duthie 04.10.2022 18:34
Summary: What is The Powerledger and how does it work? What makes the Powerledger exchange unique? Powerledger’s present and future price positions. The Powerledger (POWR) exchange A technology startup called Powerledger (POWR) creates software for distributed and decentralized energy markets in the sake of a sustainable future. It has created a blockchain-based trading platform that makes it possible to track and trade commodities related to the environment, flexibility services, and energy. Its objective is to serve as the foundation for an entirely updated, market-based grid that gives consumers a choice in their energy while promoting the democratization of power. Powerledger, an Australian-based company with offices worldwide, has over 30 customers in 11 different nations. The Powerledger (POWR) and Sparkz coins are used by Powerledger, which runs on two different blockchain layers. The platform itself makes use of two blockchains: the open Ethereum blockchain and the closed EcoChainTM consortium blockchain. The POWR token is an ERC-20 token that serves as the authorization code needed for enterprises like utilities, operators of renewable energy sources, microgrids, firms committed to using only renewable energy sources, and real estate developers to use Powerledger's network. Through the Ethereum Smart Bond exchange, POWR is traded. 30 nations had attained grid parity in 2015, which meant that the cost of solar energy was either equal to or cheaper than the cost of regional retail electricity. Powerledger offers energy solutions that are more affordable and environmentally friendly than conventional energy alternatives. It does this by combining renewable energy and blockchain technology. With the ability to execute 50,000+ energy transactions per second, Powerledger's Proof-of-Stake Energy Blockchain enables Powerledger to develop and grow energy projects all over the world. Stake your POWR to participate in securing Powerledger's Energy Blockchain and to participate in transactions involving sustainable energy sources while earning incentives. Owners of renewable energy assets can choose who to sell their energy to and at what price using Powerledger. Trades are carried out across a supervised distribution network that offers a secure revenue source. Users can use a hardware wallet to protect their POWR. All wallets that accept Ethereum also support POWR, an ERC20 coin. The Uniqueness of Powerleger (POWR) uGrid, xGrid, TraceX, Vision, Power Purchase Agreements (PPA), Mode Flex, and Local Energy Market are among the products offered by Powerledger (LEM). The blockchain-based platform can be grown as necessary and contracted individually. Three major pillars serve as divisions for the merchandise. Trading in commodities related to the environment, flexibility, and energy traceability. Trading and traceability of energy. You can keep track of the source and movement of energy with the use of track and trade capabilities. It can enable peer-to-peer (P2P) trading and give users control over the energy they use. Without the need for subsidies, P2P solar energy trading can handle more solar power in the grid. trading with pliability. A marketplace called MODE, or the Marketplace for Optimisation of Distributed Energy, enables the owners of Distributed Energy Resources (DERs) and flexible loads to monetize their assets by offering grid services. trade in environmental commodities. Technology is being utilized to make trade in environmental commodities, such as carbon credits and renewable energy certificates, more efficient, secure, and transparent. Advantages of the Powerledger exchange Powerledger enables the increasing market of residential energy suppliers by providing them control over the use of their surplus energy. Because it acts as a mediator between the user and the electric provider (or the state), the legal and administrative aspects of the transaction are handled automatically, allowing consumers to purchase and sell energy with relative ease. Present and future prices of The Powerledger network (POWR) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, POWR does fall under this category. According to some analysts, the future price of The Powerledger network (POWR) could reach up to $0.327 by 2025 and could see a price of more than $0.315 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. POWR Price Chart Sources: finance.yahoo.com, coinmarketcap.com, swapspace.co, coinswitch.co
Chile's Lithium Nationalization and the Global Trend of Resource Nationalism: Implications for EV Supply Chains and Efforts to Strengthen Battery Metal Supply

NGAS Hovering Around 12-week Lows, Cotton Touching 15-month Lows, Gold Futures Weighed Down By Strong US Dollar

Rebecca Duthie Rebecca Duthie 04.10.2022 12:59
Summary: NGAS prices in the US reached their highest summer levels since 2008. Economic uncertainty around cotton demand persists. Gold futures amidst hawkish central banks. NGAS supply concerns persist Pressure from record domestic supply levels and waning weather-driven demand as the weather turned cooler kept US natural gas contracts around a 12-week low. In the first eight months of 2022, natural gas output in the US is anticipated to have increased by around 4% from a year earlier, hitting a record high of 101 Bcf/d in late September. Additionally, the protracted outage at the Texas Freeport LNG export facility has already decreased US natural gas use for months, leaving more gas for US utilities to add to reserves in preparation for the next winter. A series of heat waves across the US raised the need for cooling at a time when there was an increase in demand for US LNG exports due to worries about shortages in Europe. At the same time, natural gas prices in the US reached their highest summer levels since 2008. NGAS Nov ‘22 Futures Price Chart Cotton weighed down by demand concerns Trading in cotton futures was below a level not seen since July 2021 as traders considered the likelihood of more supply and less demand as a result of quicker rate hikes and economic uncertainty. Regarding the supply, the USDA's most recent report showed that the crop of US cotton increased from 12.48 million acres in August to 13.79 million acres in September, or over 19% more than the 11.22 million acres planted in 2021. 375 lakh bales are anticipated to be produced in India, another major producer, during the season 2022–23, assuming that the weather is cooperative through October. Crops are still in danger because of unfavorable weather and pest infestations in the main growing regions. Cotton Dec ‘22 Futures Price Chart Gold weighed down by strong US Dollar After breaching the crucial $1,700 barrier earlier in the session, gold prices retreated toward $1,690 an ounce on Tuesday, constrained by a strong dollar and amid anticipation that the US Federal Reserve will move through with its aggressive plan to combat high inflation. John Williams, president of the New York Fed Bank, stated on Monday that the US still has "major ways to go" in terms of monetary tightening because interest rates have not yet reached levels that are constrictive for economic growth. The European Central Bank is also anticipated to announce another significant rate increase, as the euro zone's inflation rate surpassed expectations in September to reach a new record high of 10%. The metal, meanwhile, rose more than 2% on Monday to its best levels in almost three weeks as Treasury yields dropped precipitously and the dollar suffered from weaker-than-expected US manufacturing data, which fueled hopes that the US central bank could pause the tempo of rate increases. Gold Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Analysis Of The AUD/JPY Currency Pair Scenarios

RBA Missed Market Expectations With Their Interest Rate Decision

Rebecca Duthie Rebecca Duthie 04.10.2022 12:59
Summary: AUD declines in the wake of the RBA interest rate decision. 25bps interest rate hike from the RBA. AUD weaker. RBA 25bps interest rate decision The Australian Dollar fell when the Reserve Bank of Australia (RBA) announced a 25 basis point increase in interest rates, indicating that the peak in Australian interest rates was approaching. Markets anticipated another 50bp increase, but the action caught them off guard. The RBA stated in a statement that additional interest rate hikes were still necessary to reduce inflation, although economists now believe only one more increase is now expected. The 'dovish' outcome resulted in a weaker Australian Dollar relative to the bulk of G10 currencies. The Pound to Australian Dollar rose by a third of a percent to 1.7480, its highest level since early August. "AUD is a significant underperformer after the RBA hiked 25bp against a consensus for a 50bp move," says Adam Cole, Chief Currency Strategist at RBC Capital Markets. Effect of interest rate hiking on the AUD The cash rate has now increased six times in a row by the RBA, reaching 2.60%, which Governor Philip Lowe described as a "substantial" rate of tightening. The Australian Dollar may no longer receive rate support as a result of the RBA's rate hike cycle, but one expert claims that the prognosis for the currency is actually positive. According to ANZ, in order to guarantee that inflation does reach its goal level, the cash rate will need to increase to obviously restrictive territory above 3%. "The slower pace of rate hikes now points to the tightening cycle extending into 2023," says Plank. Plank observes that the 25bp decision and overall tone of the statement have significantly reduced market expectations for future interest rate increases. In the wake of the decision, three-year ACGB futures are trading at an implied yield of 3.3%, which is over 40 bps lower than Monday's closing. Sources: investing.com, poundsterlinglive.com
PBoC May Help Improve EUR/USD In The Coming Weeks, NZD Ahead Of RBNZ Interest Rate Decision

PBoC May Help Improve EUR/USD In The Coming Weeks, NZD Ahead Of RBNZ Interest Rate Decision

Rebecca Duthie Rebecca Duthie 04.10.2022 09:09
Summary:The ECB is under increasing pressure due to an inflation issue.GBP/EUR exchange rate has recovered significantly from last week's lows.Eurozone facing energy crisisThe market is reflecting bullish signals for this currency pair. Recently, there hasn't been much reason to be happy about the Euro to Dollar exchange rate, but there is a chance that it could improve significantly in the weeks ahead if the Peoples' Bank of China (PBoC) is still committed to stabilizing a closely correlated Renminbi before a crucial event in the Chinese political calendar. The sabotage of the Nordstream pipelines last week has exacerbated the energy challenges facing Europe's economies at the same time that the European Central Bank (ECB) is under increasing pressure due to an inflation issue, which is having a negative overall impact on the euro. These new developments have further strengthened the already pessimistic analyst community, with some now predicting that the euro would lose another 8% of its value by year's end, bringing its losses to more than 20% for 2022. EUR/USD Price ChartEuro & GBP expect support this weekThe market is reflecting bearish signals for this currency pair. The Pound to Euro exchange rate has recovered significantly from last week's lows, but the outlook for further growth is unclear. It may be that the best that Sterling can hope for in the days to come is to meander sideways in a pattern of range-bound consolidation close to technical resistance at 1.1419. With both currencies now expected to find themselves better supported against the dollar this week, the danger is of a range trade in GBP/EUR. Sterling opened last week with large falls against numerous currencies, but less so against a Euro that also moved deeper below the parity level.The Office for National Statistics' (ONS) Friday announcement that its estimate of second-quarter GDP growth had been revised upward, indicating that the UK economy avoided a technical recession last quarter, and the most recent current account deficit figures both contributed to the Sterling-Euro rate's recovery last week. The UK economic data calendar for this week is not particularly noteworthy, but BoE Monetary Policy Committee member Catherine Mann is scheduled to give a speech on Monday night at an event sponsored by the CD Howe Institute with the working title "The path back to 2 percent," which will be significant for Sterling. EUR/GBP Price ChartRBNZ interest rate announcement WednesdayThe nature of the Reserve Bank of New Zealand's (RBNZ) rate announcement on Wednesday may determine whether recent significant gains in the Pound's value relative to the New Zealand Dollar are maintained, increased, or reversed. Markets anticipate the RBNZ to increase rates by another 50 basis points, although analysts and market pricing indicate the central bank is nearing the end of its cycle of rate increases.Anything less would be a significant "dovish" outcome and impact on the New Zealand Dollar. The RBNZ must deliver a 50bp boost and satisfy market expectations for the size of future hikes for the NZD to defend current levels. GBP/NZD Price ChartSources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
4 Cryptocurrencies To Keep A Watch On: Chiliz (CHZ), Big Five Token (BFT), FUNToken (FUN), Cosmos (ATOM)

4 Cryptocurrencies To Keep A Watch On: Chiliz (CHZ), Big Five Token (BFT), FUNToken (FUN), Cosmos (ATOM)

Rebecca Duthie Rebecca Duthie 03.10.2022 13:53
Summary: A summary of CHZ, BFT, FUN, ATOM. Proof of work, proof of stake, proof-of-history DApps, sports, gaming, Africa. The Chiliz (CHZ) Platform The main cryptocurrency for sports and entertainment is called Chiliz, and it is created by a FinTech company based in Malta. It runs the blockchain-based sports entertainment platform Socios, which enables consumers to take part in the management of their preferred sporting organizations. Socios.com's numerous fan tokens are an illustration of that. Fan tokens give athletic clubs and organizations a means to interact with their supporters and open up new revenue streams. Through surveys and polls, for instance, supporters can participate and have a say in club-related issues, such as what should be written on the captain's armband. The business seeks to close the gap between active and passive fandom. The level of influence fans have is decided by the clubs. The choices might be anything from choosing new jersey designs to assigning teams to exhibition games. Chiliz was the first to directly involve regular sports fans in club and organization decision-making. Read more:Altcoins: Chiliz (CHZ) - What Is It? - A Deeper Look Into the Chiliz (CHZ) Platform  The Big Five Token (BFT) platform In terms of technical innovation, Africa has historically trailed behind; the majority of its population has been reduced to using technology as a consumer good. The Nzvedaz Big Five Project seeks to alter that perception by introducing blockchain technology to Africa. The first NFT Marketplace in Africa is being created by our project. Their metaverse will reflect Africa's diversity, abundance of resources, and variety of flora and animals. Users will be able to virtually scale Mount Kilimanjaro and possess large lands from which valuable natural resources can be mined. The native currency that will be used in the ecosystem has the ticker $BFT. It will serve as the medium of exchange for NFT listings on their marketplace. When a seller sells their NFT, it will be the currency that is utilized to pay final value fees. It will serve as the medium of exchange in their first African metaverse. The best cryptocurrency exchange for trading The Big Five Token stock at the moment is PancakeSwap, if you're interested in finding out where to buy The Big Five Token at the current cost (V2). Read more: Altcoins: Big Five Token (BFT) - What Is It? - A Deeper Look Into the Big Five Token (BFT) Platform  The FUNToken (FUN) platform An asset created exclusively for the online gaming and gambling sector is the FUNToken. The Ethereum blockchain's advantages are combined with a cutting-edge tech stack in FUNToken, making FUN a potent tool for gamers, platforms, and developers alike. FUN backs the advent of new digital game era: Quick - Use the XFUN Layer 2 token for quick wallet-to-wallet and in-game transfers to extend your playing time. Transparent - Decentralized, openly logged, and traceable transactions. Processes are streamlined and made easy with Seamless - FUNToken, an ERC20 token on Ethereum with a Layer 2 token called XFUN in Ploygon. Open - Anyone can use FUNToken's power, including players, developers, and dapps. Safe – FUNToken ownership is fully anonymous. The XFUN Wallet, made available by FUNToken in the Google Play and Apple App stores, offers a safe, non-custodial means to store and transfer both XFUN and FUN. Transactions on the XFUN Wallet are frictionless and quick thanks to the absence of gas. The FUNToken will continue to hold its value in the future thanks to a calculated quarterly burn of 50% of any earnings. Read more: Altcoins: FUNToken (FUN) - What Is It? - A Deeper Look Into the FUNToken (FUN) Platform  The Cosmos (ATOM) platform Briefly put, Cosmos describes itself as a project that tackles some of the "hardest difficulties" the blockchain sector has to deal with. By providing an ecosystem of interconnected blockchains, it seeks to provide an alternative to "slow, expensive, unscalable, and ecologically destructive" proof-of-work methods, such as those employed by Bitcoin. The project's core is the Cosmos Software Development Kit (SDK). With SKD, developers can simply build their own unique blockchains from the ground up that can interact with other blockchains in the Cosmos ecosystem. The Tendermint Byzantine Fault Tolerance (BFT) consensus method is the default consensus engine included in the Cosmos SDK. Other characteristics include the Cosmos Inter-Blockchain Communication (IBC), which enables token transfers and data sharing between Cosmos-based blockchains. As we previously discussed, Cosmos is referred to as "Blockchain 3.0," and one major objective is to make sure that its infrastructure is easy to utilize. The Cosmos software development kit emphasizes modularity in order to achieve this. The Interchain Accounts improvement will be the biggest to the ecosystem since Stargate, which made it possible for Cosmos blockchains to communicate with one another for the first time ever using the IBC standard protocol. Read more: Altcoins: Cosmos (ATOM) - What Is It? - A Deeper Look Into the Cosmos (ATOM) Platform  Sources: FXMAG.com
UK Manufacturing (PMI) Data Just Missed Market Expectations

UK Manufacturing (PMI) Data Just Missed Market Expectations

Rebecca Duthie Rebecca Duthie 03.10.2022 13:52
Summary:GBP Manufacturing PMI data missed market expectations.Sector's business conditions worsened for a second consecutive month.PMI revealed that input cost inflation climbed for the first time in five months.GBP Manufacturing dataAccording to a carefully regarded poll released on Monday, British manufacturing output dropped for a third consecutive month in September and orders decreased for a fourth straight month as a result of weakening international demand.The S&P Global/CIPS UK Manufacturing PMI was marginally revised lower to 48.4 in September 2022 from an earlier estimate of 48.5, indicating a worsening in the sector's business conditions for a second consecutive month. Intermediate goods makers experienced the greatest production decrease, although the consumer and investment goods industries also experienced notable rates of contraction. The volume of new business decreased for the fourth consecutive month, with new export business declining the most since May 2020. There have been reports of expected orders being canceled or delayed as a result of factors like the cost-of-living crisis, rising uncertainty, and inflationary pressure. While outstanding business decreased for the seventh consecutive month, employment increased as businesses reported success in filling open positions. On the price front, input costs and output charges both increased more quickly, stayed high, and were far over the averages of their respective surveys.As consumers and businesses struggle with rising energy prices, an increase in borrowing costs, and a volatile currency that hit a record low against the US dollar on September 26, Britain's economy is on the verge of going into recession. Although a weaker pound should, in principle, increase demand for British goods by making them more affordable for foreign consumers, previous currency declines in 2008 and 2016 had little impact. The PMI revealed that input cost inflation climbed for the first time in five months, partially as a result of the weaker pound, and that sterling weakening does increase the cost of imports of fuel and raw materials, which are frequently priced in dollars.Sources: tradingeconomics.com, reuters.com
Corn Prices Recorded Their Biggest Weekly Gain, Gold Demand In India May Suffer A Temporary Setback

Brent Crude Oil Prices Drop For 4th Consecutive Month, Silver Futures, Corn Rising To Start The Week

Rebecca Duthie Rebecca Duthie 03.10.2022 13:52
Summary: Oil prices fell for the fourth consecutive month in September. A global economic downturn is also affecting bullion investments. Corn futures rise at the start of the week. Brent Crude Oil weighed down by economic recession concerns In response to growing rumors that OPEC+ would consider reducing output by up to 1 million barrels per day at a meeting later this week to support prices, Brent oil futures jumped more than 4% near $89 per barrel on Monday. After lowering output by 100,000 bpd in August to address macroeconomic headwinds, this action will represent the cartel's second consecutive monthly drop. As aggressive monetary tightening by major national economies fuelled concerns about a worldwide economic downturn and reduced energy demand, oil prices fell for the fourth consecutive month in September. Oil prices were also affected by the Covid-related uncertainty in China, the world's largest crude importer, and a strong dollar that increases the cost of goods with US dollar prices for foreign customers. Brent Crude Oil Futures Price Chart Hawkish Fed driving investors away from Silver The price of silver in futures contracts was $19.30 per ounce, falling further from the one-month high of $19.8 reached in mid-September as renewed dollar demand and the expectation that the Federal Reserve will maintain its current policy of low interest rates for an extended period of time drove investors away from bullion. The Fed predicted that borrowing costs might increase to as much as 4.6% by March 2023 and increased its fund rate by 75 basis points for the third time in a row. With swaps pricing bets that its deposit rate will grow to 3% by May 2023, the ECB is likewise anticipated to rapidly raise its interest rates. A global economic downturn is also affecting bullion investments, as well as jewelry sales from China and India, the world's two largest consumers of technology and autos. Silver Dec ‘22 Futures Price Chart Corn prices rise to start the week The price of corn is rising to start the week. Close observation of the Ukraine-Russian conflict's escalation is necessary. Trading on a contract for difference (CFD) that reflects the benchmark market for this commodity shows that corn has grown 92.12 USd/BU or 15.53% since the start of 2022. Corn Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com, barchart.com
GBP Ends September Stronger In The Wake Of Surprising UK GDP Data, EU CPI Missed Market Expectations

GBP Ends September Stronger In The Wake Of Surprising UK GDP Data, EU CPI Missed Market Expectations

Rebecca Duthie Rebecca Duthie 30.09.2022 11:10
Summary: The UK economy grew in the second quarter of 2022. The acceleration in growth came after a boost to services output. EU CPI came in hotter than expected. UK GDP surprised markets The UK economy grew in the second quarter of 2022, according to the ONS, upending original forecasts of a 0.1% contraction. Revisions for the pandemic-related decline, however, were much smaller. In order for the UK to officially enter a technical recession with growth of 0.2%, the third and fourth quarters would have to show quarterly drops. According to the ONS, the acceleration in growth came after a boost to services output, which was expected to have grown by 0.2% in Quarter 2. The wholesale, retail, and health industries, however, continued to experience difficulty. "The good news is that the economy is not already in recession. The bad news is that contrary to previous thinking, it still hasn’t returned to pre-pandemic levels," says Paul Dales, Chief UK Economist at Capital Economics. UK GDP was initially predicted to have increased by 7.4% in 2021, however that estimate has since been revised upward to 7.5%. Real GDP is now projected to be 0.2% below pre-coronavirus levels in the fourth quarter of 2019. GBP entering month end stronger After posting gains versus the Euro, the Dollar, and the majority of other currencies over the last week, the British Pound appeared poised to close the month on a more solid foundation. Data showing that the UK economy increased in the second quarter, defying expectations for a contraction, will aid the rebound from the substantial lows recorded on Monday. The initial estimate, which had read -0.1%, was beaten according to the ONS report which read that second-quarter GDP increased by 0.2%. The current account deficit was -£33BN (5.3% of GDP), which is still significant but less than the -£44BN consensus estimate. In actuality, the deficit has significantly decreased from the first quarter, when it was a massive -£51.7BN. Many Pound exchange rates have totally recovered from the decline they experienced after Chancellor Kwasi Kwarteng's fiscal announcement, which caused investors to worry that UK debt levels would rise to unsustainable levels. This recovery was robust through Thursday. In contrast to the Dollar and the Euro, the Pound has not yet fully recovered. EU CPI Inflation at 10%!? The outlook for the remainder of the year from the eurozone remains bleak. The geopolitical tension surrounding the alleged sabotage of Nord Stream has made matters worse, and the eurozone is currently debating its ninth round of penalties as a result. However, restrictions on Russian gas continue to be a divisive matter inside the EU, with the commission advising countries that a combination of measures is needed rather than merely market intervention. The eurozone would have preferred to avoid this additional tension as it gets ready for an uncertain winter. Current expectations for the CPI inflation in the Eurozone is set at 9.7%, 0.6% up from the previous 9.1%. If the actual EU CPI (YoY) inflation missed market expectations, coming in at 10%. Will the ECB step up ? Recently, the pressure on the euro has risen as it tries to regain parity. The European Central Bank's task of containing inflation will be made even more difficult by the lower sentiment numbers. On Thursday the markets saw German CPI increase by 1.9% more than expected on a monthly basis and by 10% year over year. The ECB will be forced to continue raising interest rates at this point. It will gradually bridge the gap with the Fed, causing the EUR/USD to stabilize, if not eventually soar back above parity. The sluggish economy of the Eurozone in comparison to the US is an issue for the euro. For this reason, we do not anticipate the single currency to have a significant resurgence just yet. The actual EU CPI inflation of 10% is likely to cause the EUR to weaken against its currency counterparts, however on the contrary, the high inflation could also instill the markets with confidence that the ECB will step up their interest rate hiking cycle to try regain control over inflation. Sources: dailyfx.com, poundsterlinglive.com, investing.com
Intel (INTC) Outlook Looks Dim According To Some Analysts

Intel (INTC) Outlook Looks Dim According To Some Analysts

Rebecca Duthie Rebecca Duthie 29.09.2022 20:36
Summary:According to Zack’s, both EPS and Sales will drop in Q3 earnings.Intel announced its 13th Gen Intel Core i9-13900KIntel (INTC) Share price drops Semiconductor stocks have suffered significantly as a result of consumers turning to essentials rather than technology purchases due to the economic downturn. When there is high inflation, finding affordable food, clothing, and housing becomes extremely crucial, and mortgage rates are at their highest point since the 2008 financial crisis.The highly cyclical nature of the semiconductor industry makes the current market climate more perilous for these stocks. However, Intel (INTC) has experienced a rather significant drop. Investors have witnessed competitor Advanced Micro Devices (AMD) mature and eat into Intel's market share in front of their very eyes over the past five years.Compared to the S&P 500, Intel stock has fallen -47% so far this year, about twice as much. This has not been the case for the Semi-General Market as a whole, with AMD down -52% and Intel's Zacks Sub Industry down -48% YTD. Despite the negative market conditions currently present for semiconductor companies, Intel's decline started some time ago.According to Zacks projections, third quarter earnings will come in at $0.34 per share, down -80% from the same period last year. Additionally, a 19% decline in third-quarter sales, to $15.57 billion, is predicted. In 2022, INTC's annual earnings are predicted to decline -59% year over year, but they are predicted to increase 16% in FY23. Although sales are projected to increase by 3% to $68.23 billion in FY23, they are predicted to decline by 15% this year.Intel announced its 13th Gen Intel Core i9-13900K, branded as the "world's fastest desktop CPU," with which gamers, streamers, and others may experience "blazing clock speeds" of up to 5.8 gigahertz, in what could be seen as a single-handed attempt to revitalize the PC chip business. This is unquestionably a direct shot at the 5.7 megahertz Ryzen 9 7950X CPU from Advanced Micro Devices. INTC Price ChartSources: finance.yahoo.com, fool.com
US Dollar May Strengthen As A Result Of The US PCE Update (EUR/USD, USD/CAD) GBP Seeks To Strengthen Against The Euro

US Dollar May Strengthen As A Result Of The US PCE Update (EUR/USD, USD/CAD) GBP Seeks To Strengthen Against The Euro

Rebecca Duthie Rebecca Duthie 29.09.2022 19:06
Summary: Consumer confidence figures from the Eurozone decreased by 3.8 points. GBP seeks to continue strengthening against the Euro. Eurozone forecast looks dismal The market is reflecting bullish signals for this currency pair. The final consumer confidence figures from the Eurozone decreased by 3.8 points to -28.8 in September 2022, which was in line with initial projections and the lowest reading since the series' inception in 1985. The majority of factors, such as householders' appraisals of their past financial situations, outlooks on their future financial situations, plans to make significant purchases, and expectations regarding the state of the economy as a whole, all had a role in the sharp fall. A minor improvement in industrial mood could be fleeting given the future energy issues. The eurozone's forecast for the remaining months of the year is still dismal. The geopolitical tension surrounding the alleged sabotage of Nord Stream has made matters worse, and the eurozone is currently debating its ninth round of penalties as a result. However, restrictions on Russian gas continue to be a divisive matter inside the EU, with the commission advising countries that a combination of measures is needed rather than merely market intervention. The eurozone would have wanted to avoid this additional anxiety as it gets ready for an uncertain winter. EUR/USD Price Chart Markets awaiting German inflation release The market is reflecting bearish signals for this currency pair. In spite of easing pressures on UK bond markets and ongoing weakness in the Euro-Dollar exchange rate, the British Pound seeks to continue strengthening against the Euro. The inflation rate in North Rhine Westphalia, the most populated state in Germany, increased by 10.1% year over year in September, marking the highest increase since the early 1950s. This caused a decline in the value of the euro. The information raised concerns that German inflation data, which would be released later in the day, would confirm that the UK's stagflationary crisis is gripping Europe's largest economy as well. Separately, Germany’s network authority said gas use was well above average last week and urged homes and companies to make greater savings to avert a shortage this winter. EUR/GBP Price Chart US PCE update due The market is reflecting bullish signals for this currency pair. As the Relative Strength Index (RSI) retreats from an extreme reading, the recent rally in USD/CAD appears to be coming to an end after clearing the high of July 2020 (1.3646). The core reading, the Fed's preferred measure of inflation, is forecast to increase to 4.7% in August from 4.6% per year in July, and signs of persistent price growth may force the Federal Open Market Committee (FOMC) to maintain its approach to combating inflation as the central bank pursues a restrictive policy. This could cause the US dollar to strengthen as a result of the US PCE update. As a result, the US Dollar may continue to perform better than its Canadian counterpart because the Summary of Economic Projections (SEP) show a steeper path for the Fed Funds rate, and USD/CAD may show a bullish trend for the rest of the year because the Bank of Canada (BoC) appears to be on track to implement smaller rate hikes in the upcoming months. USD/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Altcoins: Cosmos (ATOM) - What Is It? - A Deeper Look Into the Cosmos (ATOM) Platform

Altcoins: Cosmos (ATOM) - What Is It? - A Deeper Look Into the Cosmos (ATOM) Platform

Rebecca Duthie Rebecca Duthie 29.09.2022 15:56
Summary: What is The Cosmos Platform and how does it work? What makes the Cosmos exchange unique? Cosmos’ past, present and future price positions. The Cosmo platform Briefly put, Cosmos describes itself as a project that tackles some of the "hardest difficulties" the blockchain sector has to deal with. By providing an ecosystem of interconnected blockchains, it seeks to provide an alternative to "slow, expensive, unscalable, and ecologically destructive" proof-of-work methods, such as those employed by Bitcoin. The project's additional objectives include reducing the complexity and difficulty of blockchain technology for developers through the use of a modular framework that demystifies decentralized apps. Last but not least, an inter blockchain communication protocol facilitates communication between blockchain networks, reducing market fragmentation. The project's core is the Cosmos Software Development Kit (SDK). With SKD, developers can simply build their own unique blockchains from the ground up that can interact with other blockchains in the Cosmos ecosystem. The Tendermint Byzantine Fault Tolerance (BFT) consensus method is the default consensus engine included in the Cosmos SDK. The start of Cosmos may be traced to the establishment of Tendermint in 2014, a key contributor to the network. A white paper for Cosmos was published in 2016, and a token sale took place in 2017. Earned using a hybrid proof-of-stake method, ATOM coins contribute to the security of the Cosmos Hub, the project's main blockchain. The network's governance includes this cryptocurrency. Other characteristics include the Cosmos Inter-Blockchain Communication (IBC), which enables token transfers and data sharing between Cosmos-based blockchains. The current market capitalization for Cosmos (ATOM) is $3,671,719,399. The current circulating supply is 286,370,297 ATOM tokens. The native token of the Cosmos Hub is ATOM. The Cosmos Hub primarily uses ATOMs for voting and staking. Transaction fees go to the Cosmos Hub, who then distributes them to ATOM stakers. The project website claims that as new services like interchain security and inter-blockchain bridges are released, staking payouts will rise. The uniqueness of the Cosmos platform The degree of fragmentation present in blockchain networks is a big source of worry for several people working in the cryptocurrency sector. Although there are hundreds of them, relatively few of them have communication capabilities. By enabling this, Cosmos hopes to flip this on its head. As we previously discussed, Cosmos is referred to as "Blockchain 3.0," and one major objective is to make sure that its infrastructure is easy to utilize. The Cosmos software development kit emphasizes modularity in order to achieve this. This makes it simple to construct networks out of preexisting code. In the long run, it is envisaged that this will make building sophisticated applications simple. Another priority is scalability, which refers to the ability to execute far more transactions per second than more traditional blockchains like Bitcoin and Ethereum. Blockchains must be able to handle demand as well as current payment processing firms or websites, if not better, in order to become widely used. The Interchain Accounts upgrade will be made available on February 17, 2022, according to the Interchain Foundation, a non-profit entity of the Cosmos ecosystem. The Inter-Blockchain Communications (IBC) protocol, which went live in April 2021, is the Cosmos standard for blockchain interoperability. It makes it possible for one blockchain to manage an account on another. There are now 38 projects using IBC, including Terra, the Crypto.org chain, and Gravity bridge. The Interchain Accounts improvement will be the biggest to the ecosystem since Stargate, which made it possible for Cosmos blockchains to communicate with one another for the first time ever using the IBC standard protocol. Users can stake, vote, swap tokens, and more using Interchain Accounts on other blockchains. "Enabling composability in IBC [which] permits innovation in diverse applications to be delivered without requiring to upgrade the entire Interchain" is the stated goal of the upgrade. Present and future prices of The Cosmos network (ATOM) Over the past 6 months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ATOM does fall under this category. According to some analysts, the future price of The Cosmos network (ATOM) could reach up to $39.51 by 2025 and could see a price of more than $236.75 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ATOM Price Chart Sources: finance.yahoo.com, coinmarketcap.com, capital.com, priceprediction.com
Oil Is An Indicator Of The Health Of The Global Economy

Platinum Weighed Down By A Strong US Dollar, Wheat Supported By Supply Concerns, RBOB Gasoline On The Rise Again

Rebecca Duthie Rebecca Duthie 29.09.2022 15:26
Summary: 2022 has seen platinum prices drop 10.71%. Wheat futures close to 3-month highs. RBOB Gasoline rises after 100 days of declines. Platinum futures under pressure from strong US Dollar Since the start of 2022, platinum prices have dropped by 103.12 USD/t oz., or 10.71%, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Gold, silver, platinum, and palladium were all affected negatively by the surging US dollar (DXY), which rose to new 20-year highs on Wednesday morning. As demand from the Chinese automobile industry remained poor and is now being further pushed by a rising dollar, platinum fell 1.1% to $838 per troy ounce (DXY). Additionally down 1.4% to $2,056 per troy ounce was palladium. Platinum Jan ‘23 Futures Price Chart Concerns around a wheat shortage driving prices As fresh escalation threats about the Russian invasion of Ukraine stoked concerns about a shortage, Chicago wheat futures increased and came close to reaching the nearly three-month high from late September. Shortly before holding referendums to join Russia in four regions of Ukraine, President Putin ordered Russia's first military mobilization since World War II. Concerns were raised about Moscow's ability to halt the UN-negotiated safe trade route from Ukrainian Black Sea ports, which would eliminate the newly resumed supply from one of the world's largest wheat exporters and producers. News that increased export levies from the Kremlin would restrict sales of the nation's record harvest this marketing year contributed to further price increases. Chicago Dec ‘22 Wheat Futures Price Chart RBOB Gasoline futures In response to a hurricane barreling into Florida, President Joe Biden issued a warning to oil corporations not to raise gasoline prices. This is the second time this week that he has expressed concern over rising pump costs. Regular gasoline is becoming more expensive on average in the United States. After falling for nearly 100 consecutive days throughout the summer driving season, the price has now started to rise once more. RBOB Gasoline Oct ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com, capital.com
APPLE (APPL) Share Price Drops With iPhone 14 Production Forecasts

APPLE (APPL) Share Price Drops With iPhone 14 Production Forecasts

Rebecca Duthie Rebecca Duthie 28.09.2022 21:45
Summary:Apple's ambitions to increase iPhone production are off the table.Apple stockholders may be more wary of this news amidst the hawkish Fed.Apple decreases their production forecast for iPhone 14As it had anticipated greater demand for the newest iPhone 14 models, Apple had instructed its suppliers to get ready for expanded production. Bloomberg was told by insiders that some of the demand for Apple's entry-level iPhone 14 devices never materialized.According to a report, Apple's ambitions to increase iPhone production are off the table. After a dismal iPhone report, Apple's (AAPL) stock is off its day low but is still down more than 2.5%. According to the Bloomberg article, plans to increase manufacturing are no longer viable since iPhone demand is not as high as some investors may have thought. The stock's decrease creates an intriguing market dynamic and coincides with a bond and stock market boom, both of which are taking place without Apple.Apple is anticipated to reduce its annual phone output by around 6 million units. In the second half of this year, the business would create about 90 million units of its newest models, which is almost the same amount of new iPhones it produced during the same period last year.The decrease in iPhone production appears to be the result of lower-than-expected demand for Apple's entry-level iPhone 14 models and higher-than-expected demand for the iPhone 14 Pro/Max models.While the news that Apple is asking its suppliers to create 90 million units of its new models is receiving a strong response from investors today, it is important for them to bear this in mind. Therefore, even though the company had lately anticipated a boost in demand that didn't materialize, what the company had initially anticipated a little over a month ago remains unchanged. Apple stockholders may be more wary of this news while the Federal Reserve keeps raising interest rates quickly, and investors are concerned that the Fed's action could ultimately push the economy into a recession. APPL Price ChartSources: finance.yahoo.com, fool.com, thestreet.com
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

EUR/USD Close To 20-year Lows, IMF Criticizes The UK Government (EUR/GBP, GBP/USD)

Rebecca Duthie Rebecca Duthie 28.09.2022 19:15
Summary: The Euro is looking down at a 20-year low against the US Dollar. A BoE statement said that it would interfere in the bond markets. Federal Reserve could be obliged to speed up the rate at which it raises interest rates. US Treasury 10-year note exceeds 4% The market is reflecting mixed signals for this currency pair. As a result of a mix of Fed and White House rhetoric that puts the brakes on a shift in market conditions, the Euro is looking down a 20-year low against the US Dollar. Overnight, St. Louis Federal Reserve President James Bullard reiterated the determination of the Fed to stare down price pressures when he said, “There’s a lot of tightening in the pipeline,” and “we have a serious inflation problem in the US.” Evans and Kashkari, two additional Fed board members, backed up his aggressive remarks. Treasury rates in some areas of the curve have increased to levels unseen in decades as a result of all this talk. For the first time since 2008, the yield on the 10-year note exceeded 4%. Government bond yields in developed markets around the world are escalating. The probable disruption of three Russian gas pipelines has made the situation in the Euro worse and driven up prices. EUR/USD Price Chart British pound to dropped quickly on Wednesday The market is reflecting mixed signals for this currency pair. The UK government's fiscal stimulus program, which was revealed last Friday and over the weekend, has received harsh criticism from the International Monetary Fund. Huw Pill, the chief economist at the Bank of England, said that the monetary policy should react appropriately to the fiscal policy. The Bank of England's statement that it would interfere in the bond markets caused the British pound to drop quickly, but a recovery later in the day indicated that markets are generally supportive of the central bank's decision to settle the bond markets. The Bank said unexpectedly that it would purchase long-dated UK assets in order to limit their yields. EUR/GBP Price Chart Pound has a strong inverse relationship with risk The market is reflecting mixed signals for this currency pair. The publication of better-than-expected statistics out of the U.S. overnight caused a decline in global markets, which in turn led investors to wager that the Federal Reserve could be obliged to speed up the rate at which it raises interest rates. Stock markets were affected by expectations of rising rates, which also helped the dollar and put pressure on other weaker currencies like the pound. The Pound has a strong inverse relationship with risk and tends to decline as the world markets decline. The announcement of new orders for durable goods data, which showed a dip of 0.2% in August but was better than the average expectation for a decline of 0.3%, was what first caused the decline in Sterling and other risk-sensitive assets. GBP/USD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Altcoins: FUNToken (FUN) - What Is It? - A Deeper Look Into the FUNToken (FUN) Platform

Altcoins: FUNToken (FUN) - What Is It? - A Deeper Look Into the FUNToken (FUN) Platform

Rebecca Duthie Rebecca Duthie 28.09.2022 12:31
Summary: What is The FUNToken Platform and how does it work? What makes the FUNToken exchange unique? FUNToken’s past, present and future price positions. The FUNToken platform An asset created exclusively for the online gaming and gambling sector is the FUNToken. The Ethereum blockchain's advantages are combined with a cutting-edge tech stack in FUNToken, making FUN a potent tool for gamers, platforms, and developers alike. FUN backs the advent of new digital game era: Quick - Use the XFUN Layer 2 token for quick wallet-to-wallet and in-game transfers to extend your playing time. Transparent - Decentralized, openly logged, and traceable transactions. Processes are streamlined and made easy with Seamless - FUNToken, an ERC20 token on Ethereum with a Layer 2 token called XFUN in Ploygon. Open - Anyone can use FUNToken's power, including players, developers, and dapps. Safe – FUNToken ownership is fully anonymous. By actively encouraging additional gaming operators to benefit from the FUNToken ecosystem and player base, existing product development and extension has increased the token's use. The XFUN on Polygon, which is quicker and less expensive than Ethereum, has just been released by FUNToken. Only through a 1:1 bridge mechanism with FUN is this token accessible. In order to purchase the new token, users must escrow their FUN, which lowers the trading supply and ultimately raises demand. The XFUN Wallet, made available by FUNToken in the Google Play and Apple App stores, offers a safe, non-custodial means to store and transfer both XFUN and FUN. Transactions on the XFUN Wallet are frictionless and quick thanks to the absence of gas. The FUNToken will continue to hold its value in the future thanks to a calculated quarterly burn of 50% of any earnings. As an ERC-20 token built on Ethereum, FUN uses the proof-of-stake (PoS) consensus algorithm. Proof-of-stake (PoS) was developed as a substitute for the proof-of-work (PoW) consensus employed by Bitcoin. PoS distributes mining power depending on already obtained tokens, whereas PoW requires a considerable amount of processing power to mine tokens. Numerous analysts point out that PoS is an easily scalable consensus technique that offers more use case flexibility. Consequently, in recent years, this consensus method has become much more widely used. The FUNTokens Uniqueness By easing tension between players and operators and returning control of player funds to players, FUNToken aims to change a flourishing industry. With the quick, gas-free operation on Polygon now accessible via mobile wallets, FUNToken is founded on standards and offers a scalable and reliable way to access decentralized applications. The current market capitalisation for FUNToken is currently $79,585,123. There is a maximum supply of 10,999,873,621 tokens, 100% of which are currently in circulation. The Advantages of FUNToken Speed, make the most of your gaming time with quick wallet-to-wallet transfers. Secure, FUNToken ownership is protected via non-custodial wallets and is anonymous. Seamless,they are ERC20 tokens, FUN/XFUN. The blockchain streamlines and speeds up business procedures. Open, everyone may utilize the power of FUN, including users, communities, and developers. Transparent, decentralized, transparently recorded, and traceable transactions are used. FUN IS TRADEABLE AND LIQUID, The best aspect is that FUN is also traded on significant exchanges including Binance, Uniswap, Gate.io, HitBTC, and BitFinex. To purchase FUN, click on the logo of your preferred exchange below, or select "Buy FUN Tokens" to do so using the Rubic widget. Past, present and future prices of The FUNToken network (FUN) In Early 2018 the price of the FUN token reached its first price peak and its highest price at $0.1728. Since then the price has fallen consistently. In early 2021 the price began to rise again, but has since found a stable price throughout 2022. Over the past 6 months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FUN does fall under this category. According to some analysts, the future price of The FUNToken network (FUN) could reach up to $0.035 by 2025 and could see a price of more than $0.22 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. FUNToken Price Chart Sources: finance.yahoo.com, coinmarketcap.com, funtoken.io, technewsleader.com
Oil trades around USD 100, gold edges higher

WTI Crude Oil Touching January Lows, Palladium Futures Reaching Highest Level In 4-weeks, Coffee Futures

Rebecca Duthie Rebecca Duthie 28.09.2022 11:45
Summary: Likelihood of a worldwide recession that might harm energy consumption. Palladium prices are 30% lower than they were in March. The drawback is that continued upward momentum has been constrained by a generally stronger dollar. WTI Crude Oil touching January lows On Wednesday, WTI crude futures declined toward $77 per barrel, returning to their lowest levels since early January, as worries that OPEC+ may further restrict supply were countered by a strengthening currency and increasing US petroleum inventories. After a White House official ruled out a currency deal among major nations to reduce the dollar, the dollar index soared to a fresh 20-year high. Prior to the release of official figures later on Wednesday, industry data revealed that the US crude stockpiles increased by over 4 million barrels last week. With aggressive monetary tightening increasing the likelihood of a worldwide recession that might harm energy consumption, oil prices have been under intense selling pressure since June and are expected to report their first quarterly loss in more than two years. While this was going on, dramatic drops in oil prices fueled rumors that OPEC+ might reduce output to stop the decline. Moscow reportedly urged the cartel to reduce production by approximately 1 million barrels per day. WTI Crude Oil Futures Price Chart Palladium touching 4-week highs As the dollar index deviated from 20-year highs, palladium futures increased their gains to $2,200 per ounce, the highest level in almost four weeks. Nevertheless, in spite of rising interest rates and slowing GDP, palladium prices are 30% lower than they were in March. It is anticipated that central banks would keep raising interest rates to keep inflation from soaring even when the economy is slowing. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. However, there is still a shortfall on the palladium market. Palladium Futures Price Chart Coffee futures Due to limited supply, Arabica coffee futures on ICE increased their gains from a one-month low reached on September 16th. While Brazilian crop agency Conab reduced its 2022 arabica coffee production estimate from May's projection of 35.71 million bags to 32.41 million 60kg bags, as adverse weather curbed coffee yields, posing risks for next year's production, new data showed ICE-certified arabica stocks fell to a fresh 23-year low of 460,387 bags. At the same time, exports of coffee from Colombia, the second-largest producer of arabica beans in the world, decreased 7% during the first seven months of the year and plunged 21% year over year in August. The drawback is that continued upward momentum has been constrained by a generally stronger dollar. Coffee Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
JABIL (JBL) Stock Surged In The Wake Of Favourable Q4 Earnings Results

JABIL (JBL) Stock Surged In The Wake Of Favourable Q4 Earnings Results

Rebecca Duthie Rebecca Duthie 27.09.2022 22:00
Summary: JBL beast market expectations for Q4 earnings results. Sales of diversified manufacturing increased 13%. JABIL (JBL) Q4 earnings report On Tuesday, contract manufacturer Jabil (JBL) easily surpassed Wall Street's expectations for the current quarter of its fiscal year. The announcement caused JBL stock to rise. The St. Petersburg, Florida-based business reported adjusted earnings of $2.34 per share on $9.03 billion in revenue for the three months ended August 31. Jabil was predicted to report earnings of $2.15 per share on sales of $8.39 billion by analysts surveyed by FactSet. Jabil's earnings increased by 63% year over year while its sales increased by 22%. Jabil forecast adjusted earnings of $2.20 per share on $9.3 billion in sales for the current quarter. On the midpoint of its guidance, that is based. Wall Street expected Jabil to report first-quarter fiscal earnings of $2.11 per share on sales of $8.93 billion. It generated $1.92 in profit per share on $8.57 billion in revenue during the same time last year. Jabil additionally disclosed plans to repurchase up to $1 billion worth of its stock. According to IBD MarketSmith charts, JBL stock has established a cup-and-handle foundation with a purchase point of 65.98. Electronics manufacturing services and diversified manufacturing services are Jabil's two business divisions. Equipment for 5G wireless, cloud computing, networking, data storage, industrial, and other applications is produced by the electronics manufacturing facility. The company's diverse production facility produces mobile, medical, automotive, and other gadgets. Sales of diversified manufacturing increased 13% while sales of electronics manufacturing increased 32% year over year at Jabil. According to IBD Stock Checkup, JBL stock is tied for first place out of 15 stocks in the electronics contract manufacturing business group. It gets a 98 out of 99 IBD Composite Rating. Regardless of industry sector, the Composite Rating compares a stock's main growth characteristics to all other companies. Out of 197 industry groups that IBD monitors, the electronics contract manufacturing industry group comes in at number 33. JBL stock is also included in IBD's list of Tech Leaders stocks. JBL Price Chart Sources: finance.yahoo.com, investors.com
US Dollar Continues To Rally (EUR/USD), The GBP Could Be Face Severe Challenges (EUR/GBP, GBP/CAD)

US Dollar Continues To Rally (EUR/USD), The GBP Could Be Face Severe Challenges (EUR/GBP, GBP/CAD)

Rebecca Duthie Rebecca Duthie 27.09.2022 19:17
Summary:The Euro gained some support this Tuesday.The challenges facing the pound are now so severe.GBP/CAD exchange rate significantly recovered from an earlier decline.Euro data due this weekThe market is reflecting bearish signals for this currency pair. After exhibiting a knee-jerk reaction to the Federal Reserve interest rate decision, the EUR/USD cleared the low of December 2002 (0.9859), but new data prints coming out of the Euro Area may halt the recent slide in the exchange rate as inflation is anticipated to reach a record high. Following yesterday's disappointing performance versus the dollar, the euro gained some support this Tuesday. As the eurozone enters the winter months, fundamental headwinds still exceed any kind of positives, leaving the currency vulnerable to downside risk. Markets appear to be anticipating a shift in the Fed's current hawkish stance or a significant decline in inflationary pressures to turn the tide for the EUR/USD. Some analysts anticipate the euro to remain weak until then. EUR/USD Price ChartGBP could face a poor futureThe market is reflecting bearish signals for this currency pair. According to a respected economist, the British pound is undergoing a significant downward adjustment that won't end until it drops below parity. The challenges facing the pound are now so severe, according to Lawrence Summers, a former American secretary of the Treasury, director of the National Economic Council, and chief economist for the World Bank, that he is perplexed that the IMF has not issued a statement. In an effort to persuade the markets that it has the skills to combat rising inflation rates, the Bank of England will speak. Huw Pill, the chief economist at the Bank of England, stated as much when speaking at a Barclays event. Pill stated that the central bank was preparing to present a "strong policy reaction" at its November 03 policy meeting in an effort to calm the UK gilt markets and a battered pound. EUR/GBP Price ChartGBP/CAD recoveryThe Pound to Canadian Dollar exchange rate has significantly recovered from an earlier spectacular decline that sent it to all-time lows in the first session of the week, but the recovery appeared to falter before 1.50, raising the possibility that its most recent declines have given Sterling access to a new and lower trading range. Monday's volatility appeared to be related to Chancellor Kwasi Kwarteng's budget-like announcement on Friday, which included a number of stimulative policy commitments. These commitments will almost certainly result in significant increases in the issuance of government bonds as well as a future increase in the budget deficit.These included not only the simple provision of assistance with energy bills but also outright tax cuts and other giveaways, the announcement of which was followed by sharp losses for Sterling. These went beyond the cancellation of tax increases planned by the previous government and were not limited to the simple provision of assistance with energy bills. GBP/CAD Price ChartSources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Japan's Prime Minister Tested Covid Positive. Gazprom Confirmed Gas Shipment Would Be Stopped!

NGAS Touching 2-month Lows, Cotton Futures Down, Gold Sitting At Lowest Level In 2.5 Years

Rebecca Duthie Rebecca Duthie 27.09.2022 10:27
Summary: Natural gas futures are still up around 100% for the year. Cotton futures were trading at levels last seen in July 2021. The price of gold is still close to its lowest levels in 2.5 years. Larger-than-expected storage build driving NGAS prices down Under pressure from a larger-than-expected storage build, natural gas futures reached a bottom below a level not seen in two months. According to the most recent EIA data, US utilities put 103 billion cubic feet (bcf) of natural gas underground storage, significantly more than the median estimate of 93 bcf. Due to high domestic output levels and prospects for better weather through early October, prices were already under pressure. Expectations that demand would decrease even further in October when the Cove Point liquefied natural gas (LNG) plant in Maryland shuts down for maintenance added to the pessimistic picture. Due to the strong demand for US LNG exports and the rising prices of natural gas in Europe and Asia, natural gas futures are still up around 100% for the year. NGAS Oct ‘22 Futures Price Chart Cotton futures touching lows not seen since July 2021 As traders assessed the potential of larger supplies and lower demand due to quicker rate hikes and economic uncertainty, cotton futures were trading at levels last seen in July 2021. Regarding the supply, the USDA's most recent report showed that the crop of US cotton increased from 12.48 million acres in August to 13.79 million acres in September, or over 19% more than the 11.22 million acres planted in 2021. 375 lakh bales are anticipated to be produced in India, another major producer, during the season 2022–23, assuming that the weather is cooperative through October. Crops are still in danger because of unfavorable weather and pest infestations in the main growing regions. Cotton Dec ‘22 Futures Price Chart Gold futures Tuesday saw a minor recovery in gold prices from a recent low as the continuous dollar advance paused, moving closer to $1,630 an ounce. On predictions that the US Federal Reserve will tighten monetary policy even more in order to combat rising inflation, the price of yellow metal is still close to its lowest levels in 2.5 years. On Monday, a number of Fed members reaffirmed their commitment to the fight against inflation, despite the possibility of some negative economic consequences and additional market instability. Investors also considered a study from the OECD, which revised its prediction for global economic growth from 2.8% to 2.2% in 2023, citing aggressive monetary tightening in leading nations and the protracted Russia-Ukraine war. Despite the fact that storing non-yielding gold bullion is generally regarded as a hedge against inflation and economic uncertainty, higher interest rates increase the opportunity cost of doing so, and investors continue to choose the dollar as a safe haven asset. Gold Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Altcoins: Big Five Token (BFT) - What Is It? - A Deeper Look Into the Big Five Token (BFT) Platform

Altcoins: Big Five Token (BFT) - What Is It? - A Deeper Look Into the Big Five Token (BFT) Platform

Rebecca Duthie Rebecca Duthie 27.09.2022 10:12
Summary: What is The Big Five Token and how does it work? What makes the Big Five Token exchange unique? Big Five Token’s present and future price positions. Big Five Token Platform In terms of technical innovation, Africa has historically trailed behind; the majority of its population has been reduced to using technology as a consumer good. The Nzvedaz Big Five Project seeks to alter that perception by introducing blockchain technology to Africa. The first NFT Marketplace in Africa is being created by our project. They will provide NFT technology to African artists in order to guarantee issues like ownership and royalties through the use of smart contracts to uphold such rights. Additionally, it expands the market rather than remaining limited to the meager amount of visitor traffic. Their metaverse will reflect Africa's diversity, abundance of resources, and variety of flora and animals. Users will be able to virtually scale Mount Kilimanjaro and possess large lands from which valuable natural resources can be mined. Never has African art received its rightful share of the multi-billion dollar market. It is a truth that many works of African art and artifacts have been taken from their native nations and are now on exhibit in museums in Europe. The creators of the works have never received payment. The ownership of works of art or artifacts will benefit from the security of blockchain thanks to the NFT marketplace built on Binance Smart Chain. BFT is a deflationary currency, and there are currently 97 billion tokens in circulation. By the conclusion of the calendar year, the token supply will have been decreased by 8% thanks to our pledge to burn 1% of the entire supply each month. 25% by the end of the second year. The native currency that will be used in the ecosystem has the ticker $BFT. It will serve as the medium of exchange for NFT listings on their marketplace. When a seller sells their NFT, it will be the currency that is utilized to pay final value fees. It will serve as the medium of exchange in their first African metaverse. Early investors that purchase $BFT and hold it will benefit as BFT's value rises with each use-case. Every project that is in the works will put purchasing pressure on BFT. providing a possibility for early adopters and investors to realize returns on their BFT Holding. Value will rise when wide adoption takes hold. There are proposals to increase its applications to address problems like pricey insurance by implementing fractional.   The best cryptocurrency exchange for trading The Big Five Token stock at the moment is PancakeSwap, if you're interested in finding out where to buy The Big Five Token at the current cost (V2). Advantages of the Big Five Token platform The website serves as a decentralized marketplace for trading digital versions of authentic African art or recently issued NFTs. Digitalization is possible for many types of artists, including musicians, writers, actors, and sculptors. The Big Five was the first NFT location to feature African art. The NFT marketplace's native currency will be used to pay for marketplace fees, purchases made there, and to offer liquidity. It will also be used to hold value and advance the blockchain. Purchase and develop land Live, play, and conduct business with other locals in the awe-inspiring African Metaverse. Present and future prices of The Big Five Token network (BFT) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, BFT does fall under this category. According to some analysts, the future price of The Big Five Token network (BFT) could reach up to $0.003 by 2025 and could see a price of more than $0.016 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. BFT Price Chart Sources: finance.yahoo.com, coinmarketcap.com, priceprediction.net, nzvedazbigfive.io  
Ford (F) EV Issues Profit Warning Amid Surging Commodity Prices

Ford (F) EV Issues Profit Warning Amid Surging Commodity Prices

Rebecca Duthie Rebecca Duthie 27.09.2022 09:49
Summary:Ford F issued a profit warning last week.Ford's historic BlueOval City facility in Tennessee has begun building.Ford (F) motor companyThe electric vehicle (EV) revolution is accelerating, and businesses are scrambling to gain a firm foothold in this market. Investing in e-mobility is increasing, and traditional automakers have ambitious goals for electrifying their fleet. As work got underway at its BlueOval megacampus for EV expansion, Ford F stole the show. The corporation plans to produce 600,000 EVs annually by the end of the current year and 2 million by the end of 2026. To achieve the goals, the BlueOval City unit will undoubtedly help scale up EV production. Ford's historic BlueOval City facility in Tennessee has begun building. It is anticipated that in 2025, production of cutting-edge batteries would start for Ford and Lincoln EVs, including the F-150 Lightning and a second brand-new battery-electric pickup. The land's preparation already started in March, and it has made good progress thus far. Since it propels Tennessee to the front of the EV race, the development is notable for Tennessee as well. A vehicle assembly factory, a battery plant jointly run by Ford and SK, as well as supplier facilities and battery recycling operations, will all be located in BlueOval City. Once manufacturing starts, the facility is anticipated to have 6,000 employees by 2025.In a memorandum of understanding signed less than a year ago, Ford and the South Korean battery manufacturer SK On committed a staggering $5.6 billion to the construction of the highly advanced plant. The facility serves as a launchpad for Ford's next electric vehicles, which the company expects to create a stir in the EV industry.Ford profit warningOn the news front, Ford F, the world's largest automaker, last week issued a profit warning. It anticipates lower third-quarter profitability in 2022 due to rising inflationary pressure and commodity cost headwinds brought on by increased supply chain bottlenecks. The auto sector has been crippled by the ongoing microprocessor shortage, which is strangling supplies and causing automakers to get anxious. High pricing for raw materials are a challenge for businesses. This supply-chain turmoil is anticipated to last well into 2023 as well as through 2022. Ford Price ChartSources: finance.yahoo.com
Bitcoin (BTC/USD) Hitting One Milion Dollars!? What About (ETH/USD) Price Of Ethereum And Avalanche (AVAX)?

Altcoins: Chiliz (CHZ) - What Is It? - A Deeper Look Into the Chiliz (CHZ) Platform

Rebecca Duthie Rebecca Duthie 26.09.2022 20:27
Summary: What is The Chiliz Platform and how does it work? What makes the Chiliz exchange unique? Chiliz’s present and future price positions. The Chiliz platform The main cryptocurrency for sports and entertainment is called Chiliz, and it is created by a FinTech company based in Malta. It runs the blockchain-based sports entertainment platform Socios, which enables consumers to take part in the management of their preferred sporting organizations. Socios.com's numerous fan tokens are an illustration of that. Fan tokens give athletic clubs and organizations a means to interact with their supporters and open up new revenue streams. Through surveys and polls, for instance, supporters can participate and have a say in club-related issues, such as what should be written on the captain's armband. The business seeks to close the gap between active and passive fandom. With some of the top sports organizations in the world, like FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain, Chiliz has formed agreements. Additionally, it touts affiliations with gaming companies and the UFC. Fans can access a variety of fan tokens by purchasing CHZ, giving them a stake in their team. Several blockchains, including Ethereum, Binance Smart Chain, and Tron, support CHZ. Fans can vote only in openly audited polls since fan tokens are only created on Socios's sidechain using a proprietary crowd control system. A proof-of-authority consensus technique is used by the sidechain. Private companies with closed blockchains and participants solely from its ecosystem typically employ proof-of-authority. It is the best option for a sidechain because it is extremely safe, easily scalable, and less decentralized than other consensus mechanisms. Certik has audited the CHZ token. Chiliz Uniqueness Each sports league using Chiliz technology has a finite number of fan tokens available at an initial FTO (fan token offering). These tokens are available on a first-come, first-served basis, with Chiliz having previously published the opening price and completely diluted market cap. The platform's native CHZ token serves as its internal money and is used to buy fan tokens. Then, using their fan tokens to cast their votes on the Socios platform, users can, thanks to smart contracts. The level of influence fans have is decided by the clubs. The choices might be anything from choosing new jersey designs to assigning teams to exhibition games. Chiliz was the first to directly involve regular sports fans in club and organization decision-making. With the launch of the Chiliz Blockchain Campus, a privately-owned cryptocurrency incubator dedicated to accelerating blockchain technology adoption across Asia and Europe as an example, the business is always developing new ways for fans to interact. Despite having 80–100 teams in its network by the end of 2021, the firm thinks that it is only operating at roughly 10% of its potential. Advantages of the Chiliz platform Team management has evolved into a standalone kind of entertainment. The exercise of voting rights is changed into a transactional activity. Every fan's vote will have an immediate impact on teams competing in traditional sports and esports, as well as other partnered organizations. Present and future prices of The Chiliz network (CHZ) CHZ has had an extremely active year thus far in 2022. When soccer superstar Lionel Messi was announced as a global brand ambassador in a $20 million deal in March, its price increased by 25%. By March, the token had already begun to rise from its 2022 low point of $0.147. The all time highest price for the CHZ crypto $0.626 reached in early November 2021. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, CHZ does fall under this category. According to some analysts, the future price of The Chiliz network (CHZ) could reach up to $0.677 by 2023 and could see a price of more than $1.24 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. CHZ Price Chart Sources: finance.yahoo.com, coinmarketcap.com, capital.com
The GBP/USD Pair Did Not Reach The Nearest Target Level Of 1.2259

US Dollar Dictating Marker Movements (EUR/USD, GBP/USD), BoE Introduce Further Tax Cuts (EUR/GBP)

Rebecca Duthie Rebecca Duthie 26.09.2022 20:17
Summary: The Euro remains a weak currency and appears to be headed for additional declines. GBP attempted to stabilize and recover the majority of its losses from the flash crash. BoE current monetary policy will probably lead to escalating inflation pressures. EUR/USD at lowest level in more than 20 years The market is reflecting mixed signals for this currency pair. According to their most recent research, the German Ifo institute is the latest organization to issue a warning that the nation is likely to experience a recession in the upcoming quarters due to businesses' elevated level of pessimism for those months. The figures released today fell short of forecasts and numbers from the previous month. The Ifo report is the first of many German publications scheduled for this week that will provide a clearer picture of the status of the German economy. Earlier in the session, the US dollar's strength led to the Euro falling to its lowest level versus the US dollar in more than 20 years. The Euro remains a weak currency and appears to be headed for additional declines, while market movements are being dictated by the dollar across the board. EUR/USD Price Chart EUR/GBP bearish The market is reflecting bearish signals for this currency pair. According to a top economic research agency, the Bank of England must take the initiative and raise UK interest rates significantly if the collapse of the British Pound is to be stopped. The Pound has declined in value relative to every other currency in the globe, with the Pound to Euro exchange rate falling below 1.10. The British pound is currently stabilizing and recovering the majority of its losses from the flash crash. The projections for the British pound have been drastically cut by investment firm Goldman Sachs, indicating that additional losses against the Euro and a revisit of recent lows against the Dollar are possible. EUR/GBP Price Chart GBP lost 4.8% The market is reflecting bullish signals for this currency pair. This morning's Asian trading, which is often characterized by low transaction volume and little price volatility, saw an unusually steep decline in the British pound of over 4.8%. The big price change may have been influenced by the low transaction volume (reduced liquidity), but the main driver was the UK's new Chancellor Kwasi Kwarteng's announcement of more tax cuts, the largest in 50 years! Looking at the Bank of England's (BoE) current monetary policy, it is clear that the institution wants to raise interest rates to combat the inflation issue; however, a lax fiscal policy, such as energy price caps, which may benefit consumers in the short term, will probably lead to escalating inflation pressures in the medium and long terms once the fiscal support is removed. The local currency's decline, which makes inflation prone to increases, is a further contributor to the issue. GBP/USD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Analysis Of Crude Oil Futures, WTI Prices Recorded A Slight Decline

Brent Crude Oil Supported By Supply Disruptions, Silver Futures, Corn Futures Rising Amid Supply Concerns

Rebecca Duthie Rebecca Duthie 26.09.2022 20:16
Summary: Brent Crude rose from an 8-month low. Silver futures trading close to 2 year lows. Corn futures have been climbing steadily. Brent Crude oil rose from 8-month low Brent crude prices rose from an eight-month low of $84.6 a barrel, buoyed by worries about potential supply disruptions, particularly those from Russia given the impending EU ban on its fuel, and rumors that OPEC might step up market intervention. Early this month, OPEC and its oil-producing allies—including Russia—announced a modest supply reduction and promised to take further measures if the market volatility persisted. However, concerns are growing that a sudden tightening from the world's main central banks might halt global economic development and reduce energy demand. Additionally, a higher dollar has been pressuring energy markets, raising the cost of commodities with dollar prices for buyers using other currencies. Brent Crude Oil Futures Price Chart Silver trading near 2-year low In late September, silver futures were trading at $18.6 per ounce, close to the over two-year low of $17.9 reached earlier in the month as the Federal Reserve's monetary tightening momentum drove investors away from bullion investments and into the interest-bearing US dollar. The Fed increased the rate on its funds by 75 basis points for the third time in a row in addition to rate increases by other significant central banks, and forecast that borrowing may reach as high as 4.6% by March 2023. A worldwide economic slowdown is also impacting jewelry sales as well as consumer spending in China and India, two of the world's largest consumers of gadgets and autos. Additionally, while China and India take advantage of cheap oil and gas from Russia and Europe is moving back to coal as an energy option, progress toward green technology, such as the development of solar panels, has suffered a setback. Silver Dec ‘22 Futures Price Chart Corn futures have been climbing steady Since reaching an eight-month low in July, corn futures have been climbing steadily, breaking from their association with oil as worries about a lack of supply overcame expectations of a decline in demand. Expectations for the current crop were limited by bad weather in the major growing regions of the Americas. In the US, WASDE forecasts that output will amount to 13.9 billion bushels in the upcoming marketing year, down 415 million from earlier projections due to a fall in yields and harvesting area. Additionally, ending stocks and global production were revised downward. In the US, summer droughts caused havoc on domestic maize crops during the current marketing year, resulting in yields that were the lowest since the drought of 2012. Additionally, the impacts of La Nina in South America significantly harmed the health of the harvests, putting additional strain on supply. Corn Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Tokyo Raises Concerns Over Yen's Depreciation, Considers Intervention

US Dollars Momentum Supported By Fed Interest Rate Hiking Road Map (EUR/USD, USD/CAD), UK & Europe Could Already Be In A Recession (EUR/GBP)

Rebecca Duthie Rebecca Duthie 23.09.2022 19:01
Summary: EUR/USD is close to 20 years lows. The UK and the Eurozone may have already entered recession in the third quarter of the year. Canadian Dollar plunged to its lowest level against the U.S. Dollar since July 2020. US Dollar remains supported The market is reflecting bearish signals for this currency pair. A day after the Federal Reserve approved another sizable hike and promised to keep tightening monetary policy firmly in order to control inflation, the EUR/USD lacked confidence on Thursday, fluctuating between tiny gains and losses. This is probably due to rising U.S. Treasury yields. The exchange rate is very close to one of its lowest points in more than 20 years, having fallen dramatically from the overnight session high of 0.9907 and trading mostly flat on the day at 0.9843. The Fed's hawkish roadmap, which anticipates 150 basis points of additional tightening up to the terminal rate of 4.6% in 2023, as well as its commitment to maintaining a restrictive stance for an extended period of time, should keep U.S. rates biased to the upside and support the dollar's momentum in the FX market. EUR/USD Price Chart Europe & the UK may have already entered recession The market is reflecting bullish signals for this currency pair. According to analyst and economist readings of the data, the latest round of S&P Global PMI Surveys of the manufacturing and services sectors revealed on Friday that the economies of the UK and the Eurozone may have already entered recession in the third quarter of the year. Energy markets and developments in Ukraine, where Russian occupation troops are anticipated to be strengthened following substantial recent setbacks for the invading army at the hands of Ukrainian forces, also attracted attention in Europe. EUR/GBP Price Chart USD/CAD The market is reflecting bullish signals for this currency pair. This week, during another turbulent time for risky assets, the Canadian Dollar plunged to its lowest level against the U.S. Dollar since July 2020; however, updated BMO Capital Markets forecasts suggest that it may be due for one of the most significant recoveries if and when the dollar reaches its peak. The Canadian Dollar lost ground to the Swiss Franc on Friday as it dropped close to 73 cents versus the U.S. Dollar, but it still made significant gains over other currencies, several of which hit new multi-decade lows against the U.S. unit. USD/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Costco (COST) Q4 Earnings Results Fall As Earnings Narrow

Costco (COST) Q4 Earnings Results Fall As Earnings Narrow

Rebecca Duthie Rebecca Duthie 23.09.2022 12:50
Summary:After the better-than-anticipated Q4 earnings on Friday, COST shares declined.COST noticing signs of inflation pressures slowing down.Pre-market trading saw COST shares down 3.5%.Costco Q4 earnings resultsFollowing the bulk retailer's release of better-than-anticipated fourth quarter earnings on Friday, Costco Wholesale (COST) shares declined. However, the store also cited challenges on profit margins due to rising inflation prices and changing consumer patterns. Costco reported that diluted earnings for the fiscal fourth quarter, which ended on August 28, were up 11.7% from the prior year to $4.20 per share, above Street expectations by about 4 cents per share.With membership income increasing 7.5% to $1.327 billion, total revenues increased by 15% to $72.091 billion, just over analysts' predictions of a $72.07 billion total. According to Costco, same-store sales increased globally by 13.7% and in the US by 15.8%, while e-commerce sales increased by 7.1%. Costco reported that while overall inventories were up 26% from the previous year and had seen some minor recovery over "only the past few weeks," gross margins had shrunk by about 80 basis points to 10.18%.The company added that seasonal sales "seem to be going well" and that it is beginning to notice signs of inflation pressures slowing down.To reflect a Friday opening bell price of $471.01 per share, Costco shares were marked 3.3% down in pre-market trading, bringing the stock's six-month drop to over 15%. Since pump prices plummeted more than 20% from their record high of $5.10 per gallon in early June to the conclusion of Costco's fourth quarter, and core inflation decreased from 1% in May to 0.1% in August, falling gas prices may be the reason why revenues were only slightly above expectations.Pre-market trading saw COST share price down more than 3.5% on Friday, and were down 1.2% at Thursday's market closing. COST Price ChartSources: finance.yahoo.com, thestreet.com
Oil extends decline, gold edges lower

4 Cryptocurrencies To Keep A Watch On: Land (LAND), Flow (FLOW), STEPN (GMT), Efinity Token (EFI)

Rebecca Duthie Rebecca Duthie 23.09.2022 12:27
Summary: A summary of LAND, FLOW, GMT, EFI. Proof of work, proof of stake, proof-of-history DApps, Investing, Lifestyle. The Land Crypto platform A decentralized platform called Landbox (LAND) provides users with real-time updates and information on international real estate investing. The platform solves the real estate market problem that demands physical attendance, stability, security in transactions, inflexible transaction procedures, limited liquidity, a long gestation period, etc. To address these issues, Landbox has implemented three innovation systems: the Develop Relay Project (DRP), the Prop-Tech System, and the Crypto-Tech System. Landbox aims to create an ecosystem for information sharing where anyone can take part and safely and conveniently share real estate investment information, according to its whitepaper. Users of the Landbox platform can conduct transactions using LAND, the platform's native coin. The users can communicate within the site and with other users by using LAND. Additionally, users can access third-party projects they discovered on the site by paying with LAND tokens. Farmers and ranchers can access land information, tools, and resources through the LandBox platform to assist them in making decisions regarding their land. Farmers and ranchers can manage their crops, cattle, and other assets on their land as well as sell or lease their land through the LandBox platform. The Flow Platform A new generation of games, apps, and the digital assets that fuel them will be built on Flow, a quick, decentralized, and developer-friendly blockchain. The only layer-one blockchain that was first developed by a team that continually provided excellent user blockchain experiences is called Flow: NBA Top Shot, Dapper Wallet, and CryptoKitties. The only blockchain that incorporates usability enhancements into the protocol layer is Flow, which was built from the ground up for mass adoption. Leading brands and developers are already constructing on Flow to enable innovative new experiences with top-notch content. Top entertainment companies, development studios, and venture-backed businesses make up the diverse ecosystem of Flow. Global IP companies like Warner Music, Ubisoft, the NBA, and the UFC are among the partners in the flow ecosystem. Other notable projects among the upcoming class of high-growth firms include Opensea. The STEPN platform On the Solana blockchain, STEPN is a self-described "Web3 lifestyle app" with GameFi components. It creates a new category called "move-to-earn" by fusing elements of a play-to-earn game and a fitness software. Users purchase NFT sneakers so they can walk, run, or jog while earning in-game currency. By encouraging millions of users to lead healthier lifestyles, STEPN seeks to transform the fitness application business. The app addresses a number of issues, such as "proof of movement" (demonstrating that users actually exercised) and a working GPS system. Additionally, STEPN monetarily pays users, intends to include social reward components, and successfully contributes to carbon neutrality. Proof of performance came from STEPN's proof of concept from that coding contest. The STEPN app employs NFTs to feed data obtained from users' smartphones' accelerometer, gyroscope, magnetometer, and GPS sensors. It is hosted on the quick Solana blockchain. The Efinity platform Enjin created the cross-chain NFT platform known as Efinity, which is based on Polkadot. According to the project, Efinity was developed as the next-generation blockchain for digital assets with the goal of adjusting to the difficulties presented by the non-fungible token market. The NFT space is the Efinity project's primary area of expertise. The protocol allows for the creation, distribution, transfer, sale, and purchase of NFTs by traders and gamers. Efinity intends to make user experience and digital asset administration simpler, as well as to lower barriers to entry into the NFT industry and decentralized gaming. Fast transactions and low costs, the use of so-called fuel tanks, support for contracts with multiple signatures, and the adoption of Efinity Swap technology are just a few of the distinctive aspects that set Efinity (EFI) apart from competing blockchain systems. The whole Efinity ecosystem is powered by the Efinity Token, and EFI aspires to give priority to token creation, transfer, and purchase via an inter-chain infrastructure of protocols that will result in decreased transaction costs. In terms of incentives, miners who create/trade tokens and so build a community receive rewards on PoW blockchains with NFT capability. Sources: fxmag.com
Brent Crude Oil Stayed Quite Strong Yesterday Rising 0.7%, But In The Near Future Commodites May Be Endangered By (USD) US Dollar's Dominance And More

Brent Crude Futures On Track For Their Fourth Consecutive Losing Week, Gold Touches 2-year Lows, Corn Futures

Rebecca Duthie Rebecca Duthie 23.09.2022 12:15
Summary: Central banks around the world boosted interest rates this week. Gold prices continued to be pressured by a strong dollar and rising Treasury yields. Chicago Corn futures were maintaining their upward trend Brent Crude Oil heading for 4th weekly decline As central banks around the world boosted interest rates this week, fueling concerns about a global economic downturn and impacting on the forecast for energy consumption, Brent oil futures traded near $90 per barrel on Friday and were on track for their fourth consecutive losing week. Along with rate rises from the Bank of England, Swiss National Bank, and other institutions, the US Federal Reserve took the lead with its third consecutive 75 basis point rate increase. The Fed's proactive stance against inflation and demand for safe haven assets, which drove the dollar strongly higher, also dampened mood because it made oil priced in greenbacks more expensive for buyers using foreign currencies. Meanwhile, news that efforts to resurrect the 2015 Iran nuclear deal have failed has prevented oil prices from suffering more losses on Friday. Investors also kept an eye on Russia's limited military deployment, which might further disrupt supplies, the strengthening Chinese economy, and the potential for further output cutbacks from OPEC+. Brent Crude Oil Futures Price Chart Gold futures touching 2 year lows Gold prices continued to be pressured by a strong dollar and rising Treasury yields, which indicated forecasts for tighter monetary policy and weakening global growth. On Friday, gold prices dropped below $1,660 an ounce, the lowest in over two years. With its third consecutive 75 basis point rate increase to combat inflation, the US Federal Reserve led a flurry of central banks this week in raising interest rates. With Isabel Schnabel, an ECB board member, stating on Thursday that strong inflationary pressures in the euro zone are likely to be more persistent than anticipated, the European Central Bank is also expected to raise rates further. Higher interest rates reduce the appeal of holding non-yielding bullion by increasing the opportunity cost. As the US' relative economic strength and the Fed's active stance against inflation elevated the dollar at the expense of other safe-haven assets, gold also lost its luster as a store of wealth in times of economic uncertainty. Gold Dec ‘22 Futures Price Chart Corn shortage is expected Chicago Corn futures were maintaining their upward trend since falling to an eight-month low in July, and diverging from the oil market as concerns about a shortage of corn outweighed expectations of a decline in demand. Expectations for the current crop were limited by bad weather in the major growing regions of the Americas. In the US, WASDE forecasts that output will amount to 13.9 billion bushels in the upcoming marketing year, down 415 million from earlier projections due to a fall in yields and harvesting area. Additionally, ending stocks and global production were revised downward. In the US, summer droughts caused havoc on domestic maize crops during the current marketing year, resulting in yields that were the lowest since the drought of 2012. Additionally, the impacts of La Nina in South America significantly harmed the health of the harvests, putting additional strain on supply. Corn Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
EUR/USD Touch 19-year Lows, BoE Interest Rate Decision (EUR/GBP), SNB Signals End Of Its Interest Rate Hiking Cycle (EUR/CHF)

EUR/USD Touch 19-year Lows, BoE Interest Rate Decision (EUR/GBP), SNB Signals End Of Its Interest Rate Hiking Cycle (EUR/CHF)

Rebecca Duthie Rebecca Duthie 22.09.2022 16:16
Summary: The SNB increased its interest rate for a second time on Thursday. BoE increased interest rates on Thursday by 50 basis points. Fed 75bps interest rate hike. EUR/USD touching 19 year lows The market is reflecting bearish signals for this currency pair. In the wake of the Federal Reserve's 75bps interest rate hike the falling wedge, which was keeping the door open for bullish reversal possibilities, is invalidated as the EUR/USD has dropped to a new 19-year bottom and is currently clinging to the swing-low from earlier in September, which is located between.9862 and.9876. As a result, the bearish side of the coin is once again in focus for the EUR/USD pair. Resistance is possible around the previous support level of.9950 as well as at parity if bulls can produce a stronger pullback. EUR/USD Price Chart GBP plummeted in the minutes after BoE interest rate announcement The market is reflecting bearish signals for this currency pair. The Bank of England increased interest rates on Thursday by 50 basis points, which was less than the 75 basis points the market was anticipating, and the British Pound plummeted in the minutes that followed. The pound had a sell-off in response to the boost that was lower than expected, and economists predict greater losses for the UK currency. The exchange rate between the pound and the euro dropped by 0.5 percent to 1.1434 in the 15 minutes after the decision, but it had recovered to 1.1470 by the time the U.S. stock market opened, bringing bank transfer rates to roughly 1.1240 and payment specialist rates to roughly 1.1440. EUR/GBP Price Chart SNB signals the end of their interest rate hiking cycle The market is reflecting bullish signals for this currency pair. The Swiss National Bank (SNB) increased its interest rate for a second time on Thursday, which caused the Swiss Franc to weaken. However, the SNB also warned against expecting future rate hikes through its inflation projections. After the SNB hiked its cash rate from -0.25% to 0.5% in a monetary policy move that echoed the Federal Reserve's on Wednesday, the Swiss Franc fell against a number of other currencies. Even while the Swiss central bank did not rule out future interest rate hikes, September's updated predictions suggested that, given the two increases in borrowing costs announced to date, the Swiss inflation rate will likely return to, if not fall below, 2% at the end of the forecast horizon. This suggests that Swiss authorities may already have done enough to bring inflation back in line with their concept of price stability. EUR/CHF Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Altcoins: FC Barcelona Fan Token (BAR) - What Is It? - A Deeper Look Into the FC Barcelona Fan Token (BAR) Platform

Altcoins: FC Barcelona Fan Token (BAR) - What Is It? - A Deeper Look Into the FC Barcelona Fan Token (BAR) Platform

Rebecca Duthie Rebecca Duthie 22.09.2022 13:26
Summary: What is The FC Barcelona Fan Token and how does it work? What makes the FC Barcelona Fan T exchange unique? FC Barcelona Fan Token’s past, present and future price positions. The FC Barcelona Fan Token (BAR) The FC Barcelona Fan Token (BAR) is a utility token developed in association with Chiliz, a leading global provider of blockchain financial solutions for the sports and entertainment sector. Fan tokens are digital assets with no expiration date that enable their owners to take part in quizzes, contests, and polls that are posted on the Socios.com app, a sports fan interaction platform created by Chiliz and built on Chiliz Chain. The one and only official Barça fan token, $BAR, gives supporters a tokenized say in the direction of their preferred team. The token was developed with the intention of uniting the neighborhood and drawing a large audience by facilitating communication with the soccer club. When the BAR token was introduced in June 2020, it gave its users the option to do surveys on FC Barcelona's activities and the chance to win special prizes. Token owners vote through a smart contract, and FC Barcelona is required to consider the results and put them into practice. Users can participate in competitions for special benefits and team recognition using Fan Tokens as a membership. Tickets to games, special fan events, Socios.com bonuses, club NFTs, and digital badges are among the rewards. Members can also acquire VIP products and services, VIP access to stadiums and match tickets, and exclusive collectibles through BAR. Users have access to the gamified utility and can stake BAR for NFT payouts. The Uniqueness of FC Barcelona Fan token You must have at least one $BAR in order to join the community, start influencing club decisions, and take part in Fan Rewards competitions. However, the quantity of tokens you have determines how much influence you have, and some actions might call for more than one token. Token holders get exclusive benefits like VIP admission to Camp Nou's home stadium, the chance to meet legendary football players, the ability to attend autograph signings, and the ability to purchase team merchandise. Barça uses Socios.com to engage with fans and collect feedback by publishing polls. BAR holders are only permitted to cast one vote, but if a user casts 10 votes, those 10 votes will be counted. Polls are restricted to a fixed number of tokens, decided upon by the club itself, in order to maintain fair results. BAR holders receive VIP access to all home league, cup, and European matches through to the bonus system in the Socios platform. Between a football team and its devoted followers, the Socios.com platform acts as a mediator and offers digital, safe, and transparent revenue streams. Because Socios is built on smart contract technology, the Ethereum blockchain, and a custom crowd control system, users are immune from manipulation and can only cast votes in openly verified polls. The Chiliz Chain is used to create all fan tokens, and Chiliz is also used to power all voting on the platform. Chiliz Chain enables users to securely share data because it uses a public ledger of information that is transmitted through a peer-to-peer (P2P) network, difficult mathematics, and cutting-edge programming codes to store data. The current market capitalisation for this crypto is currently $22,924,240. There is a maximum of 40,000,000 BAR tokens, 3,951,907 (10%) of these are currently in circulation. Past, present and future prices of The FC Barcelona Fan Token network (BAR) The price of BAR token took awhile to take off, BAR hit its first price peak in early March 2021 at a price of $46.77. Thereafter the price has shown volatility and has been on an overall downward trend to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, BAR does fall under this category. According to some analysts, the future price of The FC Barcelona Fan Token network (BAR) could reach up to $17.57 by 2025 and could see a price of more than $108.38 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. BAR Crypto Price Chart Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com
Did The Bank of England Miss, Meet or Beat Market Expectations?!

Did The Bank of England Miss, Meet or Beat Market Expectations?!

Rebecca Duthie Rebecca Duthie 22.09.2022 13:11
Summary: BoE interest rate decision. Any post-decision gains are expected to be sold into and prove fleeting. The BoE missed market expectations on Thursday regarding their interest rate hike decision. The BoE Missed market expectations The Bank of England (BoE) announced they would raise their central bank interest rate 50bps, missing the market's expectation of 75bps. The effect of the BoE interest rate hiking decision It is unclear what the effect of the BoE rising interest rates will have on the pound sterling currency. The exchange rate might increase if the Bank increases interest rates by 75 basis points, which would be the greatest increase since 1989, and shifts its prognosis for the economy. But for a central bank that has a history of falling short of market expectations and emphasizing the downside risks to the economy, this is a huge ask. The most plausible worst-case scenario would involve the Bank raising rates by less than anticipated (say, 50 bps) and cautioning that the economic outlook is still uncertain and subject to downside risks. The odds favor a downside reaction, according to currency market observers, and any post-decision gains are expected to be sold into and prove fleeting. A worldwide energy crisis, deteriorating domestic balance of payments, declining stock markets, an unrelentingly strong dollar, and an uncooperative Bank of England have all contributed to the Pound's bad year. The Bank of England's monetary policy is the one area where decision-makers have the power to provide the Pound with some short-term comfort, despite the fact that many of these challenges are medium- to long-term concerns and global in scope. Some of the pessimism and negative positioning may be challenged if the Bank shocks the markets with a more "hawkish" tone, allowing for a short-term leg upward. A rate increase of 75 basis points plus any improved commentary from the Bank may help the pound that day. Sources: poundsterlinglive.com
Platinum Futures Hold Above $900, Wheat trading at their highest level since early July, RBOB Gasoline Futures

Platinum Futures Hold Above $900, Wheat trading at their highest level since early July, RBOB Gasoline Futures

Rebecca Duthie Rebecca Duthie 22.09.2022 11:01
Summary: Platinum supply is expected to decrease by 8% this year. Chicago wheat futures trading at their highest level since early July. Gasoline's 98-days of recorded decreases comes to an end. Reduced supply and rising demand are supporting Platinum prices In September, platinum futures remained over the $900 per ounce threshold thanks to expectations for reduced supply and indications of rising demand. The World Platinum Investment Council predicted that the entire supply will decrease by 8% this year. Meanwhile, diminishing supplies from mines and recycling, along with China's high demand for catalytic converters, helped to boost prices. Nevertheless, platinum's recovery from the 26-month low of $830 reached on September 1 was constrained by expectations of a hawkish Federal Reserve and the ensuing dollar gain. Platinum Oct ‘22 Futures Price Chart Wheat under strain as the conflict in the Ukraine persists Chicago wheat futures surged to trade at their highest level since early July as fresh geopolitical worries fueled worries that key producing centers might export less grain. The Donbass separatist areas and the seized portions of Kherson will vote this weekend on whether to join Russia, as part of the Kremlin's plans to formally annexe Ukrainian territory. The actions heightened concerns that the situation between Russia and Ukraine could worsen, leading Russia to revoke the safe trade corridor from previously negotiated Ukrainian Black Sea exports. The arrangement has already drawn harsh criticism from the Russian president, who claimed that Russia had been "cheated" and vowed to change the terms of the agreement, which would impede delivery to significant importers around the globe. Wheat Futures Price Chart RBOB Gasoline rises again After a 98-days of recorded decreases, retail gasoline prices in the US have seen their first increase, although a very small one, indicating that customers won't see much more relief at the pump. RBOB Gasoline Oct ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Did The Federal Reserve Beat Market Expectations During Their Wednesday Interest Rate Announcement?!

Did The Federal Reserve Beat Market Expectations During Their Wednesday Interest Rate Announcement?!

Rebecca Duthie Rebecca Duthie 21.09.2022 20:04
Summary: The markets expected a 75bps hike from the Fed. Fed met expectations with a 75 bps rate hike. Chances of an economic recession persists. The Federal Reserve chose to hike their interest rates The Fed met market expectations by hiking interest rates by 75bps on Wednesday. In the wake of the August US CPI inflation numbers, the market priced in a 75bps rate hike from the Fed. As the Federal Reserve continues on its rate hiking cycle, the markets become increasingly concerned around the likelihood of a global economic recession. The effect of the interest rate hike on the US Dollar and the economy On the strength of another significant Federal Reserve rate hike this Wednesday, the Dollar is anticipated to remain sustained. The August inflation report reaffirmed expectations for another 75 basis point raise and language indicating the Fed will retain a solid commitment to bringing prices down, convincing investors that the Fed cannot yet wind down its rate-hiking cycle. The next "big moment" for the currency markets, and really all financial assets, will be when the Fed finally changes course and indicates the cycle of rate hikes is about to come to an end. The recent trends of Dollar strength and equity market downturn are anticipated to continue up until that point. When members of the Federal Open Market Committee (FOMC) present their forecasts for where they believe interest rates will go in the future, there won't likely be any indications of a pivot (the infamous Dot Plot chart). However, the idea of general resilience in the US economy should continue to be the baseline scenario. Revisions to other economic estimates are anticipated to indicate some signals of a worsening economic outlook. Investors discounting a drop in future corporate earnings and fearing a deeper global recession through the latter part of 2022 and into 2023 would certainly put pressure on global stock markets. Sources: poundsterlinglive.com, investing.com
US Dollar Pushed Upwards Ahead Of The Fed’s Interest Rate Decision, Russia Not Showing Signs Of Slowing Down On The War (EUR/GBP), GBP/NZD

US Dollar Pushed Upwards Ahead Of The Fed’s Interest Rate Decision, Russia Not Showing Signs Of Slowing Down On The War (EUR/GBP), GBP/NZD

Rebecca Duthie Rebecca Duthie 21.09.2022 19:03
Summary: Euro fell back to its lows from early September below parity with the US Dollar. ECB hawkish tone. Thursday may cause the GBP/NZD to drop to some of its lowest points since the months immediately following the Brexit referendum. Euro weakens as Putin dashed hope for an end to the Russia/Ukraine conflict The market is reflecting bearish signals for this currency pair. On Wednesday, the Euro fell back to its lows from early September below parity with the US Dollar as Russian President Vladimir Putin appeared to dash any remaining hope for a quick resolution to the war in Ukraine. Markets anticipate additional rate increases even if there is optimism that, at least in the US, inflation may finally be under control. The Fed is projected to increase rates by a full percentage point. The war in Ukraine is continuing to drive up the cost of energy and raw materials on a continent that is still recovering economically from the Covid epidemic, so the European Union cannot resort to such solace. EUR/USD Price Chart BoE interest rate decision due on Wednesday The market is reflecting mixed signals for this currency pair. Although the European Central Bank has recently adopted a more hawkish tone, the Fed continues to have significantly more monetary firepower and flexibility to use it, according to the market. This opinion can only be strengthened by indications that the Ukrainian conflict will continue to rage. Great hopes: The markets are anticipating the Bank of England to raise interest rates twice in a row by 75 basis points, which might lead to a massive letdown for the British pound. As of right now, money markets are pricing in 200 basis point increases over the next three decisions, which means the Bank will need to raise rates by 75 basis points at two of those sessions. This is more than any other developed market central bank has requested. EUR/GBP Price Chart GBP/NZD currency pair During the midweek session, the New Zealand Dollar extended a 15-month downtrend against the U.S. Dollar and appeared to be headed for March 2020 lows. However, it may have better chances against Sterling, which could experience significant losses in the wake of Thursday's Bank of England (BoE) policy decision. If the author is correct in believing the BoE will actually raise rates much farther than all forecasts anticipate on Thursday, sterling's historically unfavorable reaction to Bank Rate rises could be doubly relevant for GBP/NZD this week. If this obviously improbable prediction comes true, then the BoE's decision on Thursday may cause the GBP/NZD to drop to some of its lowest points since the months immediately following the Brexit referendum. The decision on Thursday will be made just over a week after the Office for National Statistics reported a new increase in core inflation for August, and shortly after the Bank of England's Inflation Attitudes survey indicated that households' expectations for medium-term inflation remained at potentially alarming levels in July. GBP/NZD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Stitch Fix (SFIX) Q4 Earnings Results Missed Investor Expectations After Difficult Quarter

Stitch Fix (SFIX) Q4 Earnings Results Missed Investor Expectations After Difficult Quarter

Rebecca Duthie Rebecca Duthie 21.09.2022 12:53
Summary: SFIX reported lower-than-expected sales for Q4. High inflation and deteriorating retail environment. SFIX share price down after missing Q4 earnings expectations After the company reported lower-than-expected sales for the current quarter, offered weaker-than-expected sales guidance, and reported a decline in active clients, shares declined in after-hours trading. Revenue for the fourth quarter of Stitch Fix came to $481.9 million, falling shy of the Street's forecast of $489.4 million. The full-year sales forecast was trimmed to a range of $1.76 billion to $1.86 billion, while the first-quarter revenue projection was cut to $455 million to $465 million. $2.1 billion was the forecast on Wall Street. Elizabeth Spaulding, SFIX CEO wrote in the earnings release, “Today’s macroeconomic environment and its impact on retail spending has been a challenge to navigate, but we remain committed to working through our transformation and returning to profitability.” Stitch Fix shares have declined -75% year-to-date. Spaulding indicated during her address that they had faced an increasingly difficult fourth quarter, notably in June and July, due to the realities of high inflation levels and a deteriorating retail environment, which led to decreased discretionary spending in the garment industry. Because of a 9% year-over-year reduction in net active clients, which finished FY '22 at 3.8 million, Q4 net revenue fell 16% to $482 million. The quarter's adjusted EBITDA was negative $31.8 million. The company's CFO, Dan Jedda indicated during his address that SFIX had reported net revenue of $482 million, a 16% decrease from the previous year. This decline was caused by slowness in the volume of Fixes, which was largely offset by demand for Freestyle. In the wake of the financial report SFIX share price fell almost 10% in pre-market trading and 5.79% at close of market on September 20. SFIX Price Chart Sources: finance.yahoo.com, fool.com
Altcoins: Energy Web Token (EWT) - What Is It? - A Deeper Look Into the Energy Web Token (EWT) Platform

Altcoins: Energy Web Token (EWT) - What Is It? - A Deeper Look Into the Energy Web Token (EWT) Platform

Rebecca Duthie Rebecca Duthie 21.09.2022 10:40
Summary: What is The Energy web token Platform and how does it work? What makes the Energy web token exchange unique? Energy web Token’s past, present and future price positions. The Energy Web token platform The Energy Web Chain, a blockchain-based virtual machine created to facilitate and promote application development for the energy industry, uses the Energy Web Token (EWT) as its operating token. In June 2019, Energy Web Chain was introduced. The non-profit organization in charge of the initiative is called the Energy Web Foundation. By enabling developers to construct decentralized apps, EWT seeks to diversify the energy business (DApps). Grid operators, software developers, and vendors are just a few of the energetics actors who could gain from the virtual machine. Project Energy Web Token is a collaboration between Grid Singularity and Rocky Mountain Institute (RMI) (GSy). One of the top names in energy-related research and development is Rocky Mountain Institute (RMI). RMI has taken part in numerous ground-breaking energy projects as a renowned think tank. RMI sought to use the decentralized potential of blockchain technology to empower actors in the energy sector to create new decentralized solutions, thus it built the Energy Web Chain. The project benefited from the blockchain expertise of Grid Singularity (GSy). GSy was the driving force behind the development of the Energy Web Chain as a blockchain developer. GSy was a crucial component for the introduction of EWT because it included renowned specialists, core Ethereum blockchain developers, seasoned energy executives, and energy regulators. A proof-of-authority (PoA) consensus is used to run the Energy Web virtual machine. This indicates that the blockchain depends on reliable validators to add new blocks. Compared to the proof-of-work (PoW) consensus, the PoA consensus offers an alternate validation mechanism that allows for quicker processing times. The current market capitalisation for Web Energy token is $118,293,247. There is a maximum supply of 100,000,000 EWT tokens, 30,062,138.00 (30%) are currently in circulation. Web Energy Tokens weakness The Energy Web Chain's creators, RMI and GSy, set out to provide a flexible blockchain solution for a variety of energy-related applications. The ability to totally modify decentralized apps is one of the key selling aspects of EWT for businesses. Energy Web Chain was specifically created for the energy sector, however other blockchains like Ethereum also offer this diversity. Because it was designed with enterprise use in mind, the Energy Web Chain enables cutting-edge scalability and data protection. The organization also just unveiled Energy Web Decentralized Operating System, a tech stack (EW-DOS). Users can use it to remotely control and manage their electrical installations. Advantages of the Energy Web Token (EWT) platform Passive rewards, By providing other services or by sharing their energy resources with the network, users can earn passive benefits. The platform's incentivization concept replaces the current centralized, traditional business model with a more democratic and inclusive one. Regular consumers may now participate in the trillion-dollar energy service markets by joining these energy creation islands. Growing network, More than 100 players in the global energy market make up the Energy Web Token (EWT) network. These businesses cover the full spectrum, from service providers to markets for renewable energy and decentralized energy sources. The Energy Web Token is always looking for new collaborators who share their enthusiasm for a more environmentally friendly market. Past, present and future prices of The Energy Web Token network (EWT) Energy Web Token's price has followed a volatile past since March 2020, hitting its first price peak in August 2020 at $13.04, its second and highest price peak in mid-april 2021 at a price of $19.6. Thereafter EWT’s price has been volatile and on an overall price decline. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, EWT does fall under this category. According to some analysts, the future price of The Energy Web Token network (EWT) could reach up to $11.04 by 2025 and could see a price of more than $71.49 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. EWT Price Chart Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com, securities.io
WTI Crude Oil Gains 3% On Wednesday, Palladium Touching 4-week Highs, Coffee Futures Falling

WTI Crude Oil Gains 3% On Wednesday, Palladium Touching 4-week Highs, Coffee Futures Falling

Rebecca Duthie Rebecca Duthie 21.09.2022 10:12
Summary: Concerns around crude supplies drive prices. The shortfall on the palladium market persists. Likelihood of favorable weather in Brazil driving coffee futures down. WTI Crude oil demand threatened Wednesday saw a nearly 3% increase in WTI crude futures to over $86 a barrel due to worries about supply disruptions following President Vladimir Putin's announcement of a partial military mobilization in Russia. Gains occurred before the US Federal Reserve raised interest rates by a disproportionate amount, which the markets believe will stunt global economic development and reduce demand for oil. US oil inventories grew by approximately 1 million barrels last week, according to industry statistics, while gasoline and distillate stockpiles rose by about 3.2 million and 1.5 million barrels, respectively. Saudi Aramco and Crescent Petroleum executives, in separate remarks, identified underinvestment in the oil industry as a significant output barrier and the primary cause of the current global energy crisis. According to Reuters, OPEC+ is currently falling 3.58 million barrels per day, or around 3.5%, short of its goals. WTI Crude Futures Price Chart Palladium touching 4-week highs As the dollar index deviated from 20-year highs, palladium futures increased their gains to $2,200 per ounce, the highest level in almost four weeks. Nevertheless, in spite of rising interest rates and slowing GDP, palladium prices are 30% lower than they were in March. It is anticipated that central banks would keep raising interest rates to keep inflation from soaring even when the economy is slowing. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. However, there is still a shortfall on the palladium market. Palladium Dec ‘22 Futures Price Chart Coffee touching 1-month lows The price of Arabica coffee futures on the ICE was near its lowest level since August 19th due to the weaker real and the likelihood of favorable weather in Brazil, the world's largest producer. According to Climatempo, heavy and frequent rains would fall in the Sao Paulo and Minas Gerais coffee-growing regions from the end of September to the beginning of October. The rain should increase soil moisture levels and encourage coffee tree flowering for the crop of Brazil coffee in 2023–2024. The Green Coffee Association also announced that U.S. green coffee stocks for August increased by 3.6% monthly and 5.2% annually, reaching a 2-year record of 6,450,086 million bags. Coffee Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
The Fed Interest Rate Decision, Stock/Bond Portfolios, ECB’s Determination To Reach Price Stability  - 20.09.2022

The Fed Interest Rate Decision, Stock/Bond Portfolios, ECB’s Determination To Reach Price Stability - 20.09.2022

Rebecca Duthie Rebecca Duthie 20.09.2022 23:00
On Wednesday the Fed is due to make their interest rate decision. A US portfolio that is split 60/40 between stocks and bonds is headed for its worst year since 1937. ECB is determined to deliver price stability through rising interest rates. In this article: The Fed’s Interest rate hike tomorrow. US Stock/Bond portfolio down. The ECB is determined to fight inflation through rising interest rates. The Fed due to make their interest rate decision on Wednesday The SwissQuote tweeted about the expectations the market has ahead of the Fed’s interest rate hike decision on Wednesday. Fed will likely hike by 75bp ; SNB will likely follow! â–¶ï¸Â Discover today's market highlights on our #MarketTalk with @IpekOzkardeskay: https://t.co/Lzfate1wod pic.twitter.com/ZnOfnyHVvM — Swissquote (in English) (@Swissquote) September 20, 2022   On Wednesday the Fed is due to make their interest rate decision, this interest rate decision came in the wake of the US CPI inflation results which were released during last weeks trading week. US Stock/Bond portfolio is suffering According to Charlie Bilello a US Stock/Bond portfolio is likely to experience its worse financial performance in 86 years. A 60/40 Portfolio of US Stocks/Bonds is down 16.2% in 2022, on pace for its worst calendar year since 1937. pic.twitter.com/d6gnbohRLw — Charlie Bilello (@charliebilello) September 20, 2022   A US portfolio that is split 60/40 between stocks and bonds is headed for its worst year since 1937. European central bank (ecb) determined to fight inflation The president of the ECB Christine Lagarde makes it clear that the ECB is determined to fight inflation through rising interest rates. We are determined to deliver price stability, and expect to raise interest rates further to achieve 2% inflation, says President @Lagarde. We must settle at a rate that ensures inflation returns durably to our target, as the economic environment evolves https://t.co/d5HvwVEiR0 pic.twitter.com/mCXxS1yk1f — European Central Bank (@ecb) September 20, 2022   The ECB is determined to deliver price stability through rising interest rates. The ECB is willing to settle the rate of inflation at its target. Sources: twitter.com
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

EUR/USD Exposed To Fed Interest Rate Decision Risk, BoE Interest Rate Decision Due This Week (EUR/GBP, GBP/CAD)

Rebecca Duthie Rebecca Duthie 20.09.2022 17:34
Summary: EUR/USD exposed to risks related to the Fed interest rate decision on Wednesday. The BoE interest rate decision on Thursday will be crucial. GBP/CAD may now be on the verge of lurching toward all-time lows. Euro is still stronger than some other currencies The market is reflecting mixed market signals for this currency pair. The EUR/USD has been able to maintain its stability recently by simply remaining stable, which isn't really saying much for it. The Euro to Dollar exchange rate began the new week near parity and exposed to risks related to the Federal Reserve's (Fed) interest rate decision on Wednesday, however there is an admittedly remote chance that the latter could spark a firecracker surge by the single currency later this week. The Euro is still stronger than some of the other currencies, but it is expected to keep falling against the Dollar and reach new cycle lows. EUR/USD Price Chart BoE interest rate on Thursday The market is reflecting bullish signals for this currency pair. The exchange rate between the pound and the euro has fallen for seven straight weeks, but it might go considerably further this week and possibly to record lows if the market panics about a probable Bank of England (BoE) decision to sharply raise Bank Rate on Thursday. With the scale of the most recent Bank Rate increase and any hints or guidance regarding the outlook for the benchmark, the BoE interest rate decision on Thursday will be crucial, yet there is a risk that the bank will feel pressured to literally knock the Bank Rate ball out of the park. EUR/GBP Price Chart GBP/CAD How the market could be likely to react to any particularly substantial interest rate rise from the Bank of England (BoE) this Thursday, the Pound to Canadian Dollar exchange rate may now be on the verge of lurching toward all-time lows. Although there is a chance it might fall further if the BoE smashes the Bank Rate ball out of the park on Thursday, sterling crept higher versus the Canadian Dollar to start a holiday-shortened week and remained safely above the 12-year lows reached over a fortnight earlier. A recent increase in core inflation, the BoE's most recent Inflation Attitudes Survey, and the new UK Prime Minister's proposal to freeze or cap household energy costs through public subsidy are reasons to believe it might as well. These factors could influence policymakers to view this as a medium-term inflation risk. GBP/CAD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
German industrial production slumps for third straight month, raising recession risk

NVIDIA (NVDA) Stock Price Touching 52-Week Lows

Rebecca Duthie Rebecca Duthie 20.09.2022 14:00
Summary: Nvidia's stock price last week reached new 52-week lows. Nvidia foreshadowed a significant revenue shortfall. NVIDIA price chart Nvidia's stock price last week reached new 52-week lows after falling more than 60% from its highs. Watch this important support area right away. The pioneer of revolutionary graphics chips, Nvidia (NVDA), has had a difficult year. The stock hit fresh 52-week lows on Friday and is now 64% below its November 52-week high. It has not been a terrific stretch for the stock, to put it frankly. The Santa Clara, California, corporation is not the only one, to be sure.   Nvidia foreshadowed a significant revenue shortfall, then followed that with a sluggish quarter and dismal guidance. This week, Nvidia will host its GTC event, which could serve as a trigger. However, it is facing strong fundamental and technological momentum. Despite all of this, Nvidia has a great future and its stock has been severely undervalued. I want to look at the stock again for that reason. The harsh correction of Nvidia's shares, which saw a drop of more than 63%, is depicted on the weekly chart up top. On Friday, the shares recovered after touching the 200-week moving average. For almost a month, we have been keeping an eye out for this mark's tag. After all, the trend has been on your side if you are short Nvidia. However, many of these shorts also believe that Nvidia's 200-week moving average may serve as significant support and that the company has a limited downside. The Nvidia stock has experienced significant reductions throughout the years. The stock has had three significant drops of more than 50% in the past 12 years, but—and this is a big but—never more than 57.5%. The bottom line: Over the past twelve years, Nvidia stock has experienced maximum drops of 54% to 57.5%. A recent drop of 63.5% from its highs and entry into a significant support region could serve as a bounce area. An accumulation approach might not be the worst choice for long-term investors. NVDA Price Chart Sources: finance.yahoo.com, thestreet.com
Increase Of Whales Wallets And California's Digital Financial Assets Law

Altcoins: Efinity Token (EFI) - What Is It? - A Deeper Look Into the Efinity Token (EFI) Platform

Rebecca Duthie Rebecca Duthie 20.09.2022 13:40
Summary: What is The Efinity Platform and how does it work? What makes the Efinity exchange unique? Efinity Token’s past, present and future price positions. The Efinity token Enjin created the cross-chain NFT platform known as Efinity, which is based on Polkadot. According to the project, Efinity was developed as the next-generation blockchain for digital assets with the goal of adjusting to the difficulties presented by the non-fungible token market. The NFT space is the Efinity project's primary area of expertise. The protocol allows for the creation, distribution, transfer, sale, and purchase of NFTs by traders and gamers. Efinity intends to make user experience and digital asset administration simpler, as well as to lower barriers to entry into the NFT industry and decentralized gaming. The whole Efinity ecosystem is powered by the Efinity Token, and EFI aspires to give priority to token creation, transfer, and purchase via an inter-chain infrastructure of protocols that will result in decreased transaction costs. In terms of incentives, miners who create/trade tokens and so build a community receive rewards on PoW blockchains with NFT capability. Being a hub for both fungible and non-fungible tokens, accepting tokens from any other chain, enabling the pricing and trade of NFTs, increasing transaction volume, and producing network effects are some of Efinity's long-term objectives. The Enjin team created Efinity, and Witek Radomski (CTO) and Maxim Blagov (CEO) are co-founders of the business. The current market capitalisation of the Efinity Token is $234,862,012. There is a maximum supply of 2,000,000,000 EFI tokens, 100% of these are currently in circulation. The uniqueness of Efinity token Fast transactions and low costs, the use of so-called fuel tanks, support for contracts with multiple signatures, and the adoption of Efinity Swap technology are just a few of the distinctive aspects that set Efinity (EFI) apart from competing blockchain systems. Advantages of Efinity Token Tank for fuel (aka special discrete bills). These wallets' contents are only used to cover transaction costs, giving businesses and developers the chance to foot the bill for customers' out-of-pocket expenses while EFI tokens are supplied to the fuel tank. Low fees and quick transactions. 700–1000 transactions can be processed per second using Efinity (EFI). The speed of transaction confirmation is six seconds, and the end user does not need a blockchain wallet. Quick response times are guaranteed by the process's speed. Equivalence swap The efficiency of the paratoken exchange process is increased by the technology. The automatic conversion method makes it possible to upgrade one paratoken to another for a variety of uses, substantially simplifying the exchanges that are possible through buy/sell orders. The Efinity project's overall goal is to create a future in which NFTs are common and essential to all users, where incentives go to everyone who participates in the network, including traders, developers, and regular token holders, and where all transactions are quick and inexpensive. Past, present and future prices of The Efinity Token network (EFI) The price of Efinity token took off around the middle of 2021 reaching its first price peak in August 2021, thereafter the price fell and rose again, reaching its second peak and overall highest value of $2.06 in late November 2021. Thereafter the price has fallen over time to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, EFI does fall under this category. According to some analysts, the future price of The Efinity network (EFI) could reach up to $0.82 by 2025 and could see a price of more than $ by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. EFI Price Chart Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com
Central Banks' Rates Outlook: Fed Treads Cautiously, ECB Prepares for Hike

NGAS Futures Rose Amidst Energy Crisis Concerns, Decreased Cotton Demand & Constrained Supplies, Gold Touching 2-year Lows

Rebecca Duthie Rebecca Duthie 20.09.2022 13:38
Summary: Natural gas futures rose, pulling away from a two-month low. Cotton futures were trading at levels not seen in the previous six weeks. Inflation elevated the dollar at the expense of other safe-haven assets. NGAS futures rose above from a 2-month low Amid ongoing worries about an energy crisis in Europe and almost endless demand, natural gas futures rose, pulling away from a two-month low touched in the previous session. Other EIA statistics indicated that utilities added 77 billion cubic feet of gas to storage in the week ending September 9th, exceeding estimates of 73 billion. The Cove Point LNG plant in Maryland is scheduled to shut down for maintenance in October, which would halt shipments to other countries and boost local utility stockpiles. In the meanwhile, domestic supply is expected to climb. The incident furthers the abrupt delay in Freeport LNG's Quintana export plant restarting until November. NGAS Oct ‘22 Futures Price Chart Potential cotton demand decreased As traders considered the potential of decreased demand and constrained supplies, cotton futures were trading at levels not seen in the previous six weeks. New limits on top consumers as a result of COVID-19 China raised further doubts about the state of the world economy as a result of rising interest rates. In its most recent report, the USDA reduced both the U.S. output estimate and the global production forecast for the crop year 2022–2023 by 3 million bales each. The health of the natural fiber crop is in jeopardy, and supply issues have arisen as a result of the hot, dry weather in important American agricultural regions. Crops in India, another significant producer, are still in danger due to unfavorable weather and pest infestations in key growing regions. Cotton Dec ‘22 Futures Price Chart Gold touching 2 year lows As investors stayed away from the market ahead of a crucial US Federal Reserve meeting, where it is anticipated that it will announce another significant interest rate hike to combat high inflation, gold prices stabilized around $1,675 an ounce on Tuesday, hovering close to the lowest levels in over two years. A third consecutive 75 basis point hike is presently priced into the markets due to last week's higher-than-expected inflation readings and strong economic indicators in the US, which reinforced expectations that the Fed will tighten further. This week, other significant central banks including the Swiss National Bank and the Bank of England are anticipated to do the same. Analysts disagree on whether the BOE will increase rates by 50 or 75 basis points. As the US' relative economic strength and the Fed's active stance against inflation elevated the dollar at the expense of other safe-haven assets, gold lost its appeal as a store of value in times of economic uncertainty. Gold Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Ford Share Prices Fell In After Hours Trading

Ford Share Prices Fell In After Hours Trading

Rebecca Duthie Rebecca Duthie 20.09.2022 00:12
Summary:Ford warns of rising expenses.Ford reiterated its full-year profitability forecast.Ford's stock dipped.Ford’s stock of partially finished cars will remain high.Ford share prices dip in post market tradingFollowing a warning from the firm about rising expenses brought on by inflation and supply chain issues, Ford's stock dipped during the extended trading session. Inflation-related supply costs are now projected by Ford to increase by roughly $1 billion during the quarter compared to its prior forecast. Ford also anticipates that supply constraints will affect about 40,000 to 45,000 vehicles, which will cause some revenue to be shifted to the fourth quarter. Ford revised its adjusted full-year EBIT guidance but expects 3Q adjusted EBIT of $1.4 billion to $1.7 billion.“Vehicles on wheels” have been built but are still in need of some parts, the company said. Ford said it expected to have about 40,000 to 45,000 such vehicles in inventory at end of the third quarter. Those vehicles “disproportionately include high-demand, high-margin models of popular trucks and SUVs,” Ford said.The company reiterated its full-year profitability forecast, but it also warned that a lack of essential components would cause its stock of partially finished cars to remain high. Ford stated in a statement on Monday that it is experiencing unexpectedly high supply-chain costs. After regular New York trading ended at 4:44 p.m., its shares dropped 5.4% to $14.12. The stock lost 28% of its value this year as of Monday's close.For the three months ended September 30, the business anticipated preliminary adjusted profits before interest and taxes in the range of $1.4 billion to $1.7 billion. Next month, it will release its final third quarter numbers. It anticipates earning between $11.5 billion and $12.5 billion for the entire year, which is the same as its prior prediction. Ford Motor Company Price ChartSources: finance.yahoo.com, wsj.com
Navigating the Inverted Yield Curve: Implications for Currencies and Central Banks      User

Strong US Dollar Index Driving EUR/USD Down & USD/JPY Up, economists predict that the Pound will continue to decline (EUR/GBP), USD/JPY

Rebecca Duthie Rebecca Duthie 19.09.2022 18:57
Summary: Early trading saw the EUR/USD falling below parity once more. The British Pound dropped to its lowest level against the Dollar on Friday and hit lows against the Euro that haven't been seen since February 2021. Strong US Dollar index driving USD/JPY down. EUR/USD falls below parity once more The market is reflecting bearish signals for this currency pair. Early trading saw the EUR/USD falling below parity once more while failing to surpass Friday's peak. While markets look apprehensive after US President Joe Biden said the US military would defend Taiwan in the case of an invasion by China, we witnessed the USD index open higher and push on, supporting a +/-60 pip loss on EUR/USD and other currency pairs. The downward movement in the EUR/USD rate this morning appears to be driven by the dollar index. Despite numerous investment banks and the World Bank reducing their growth projections for the US economy and issuing a global recession warning, the index kept moving higher. EUR/USD Price Chart Economists predict that the Pound will continue to decline. The market is reflecting mixed signals for this currency pair. Although there is a remote chance the currency would recover by the end of the upcoming week when a Bank of England rate hike and the "mini budget" are announced, economists predict that the Pound will continue to decline. The British Pound dropped to its lowest level against the Dollar on Friday and hit lows against the Euro that haven't been seen since February 2021 before the monetary and fiscal double-header. Following the publication of poor UK retail sales statistics that led economists to warn that the country is already in recession, the pound's losses for 2022 increased. Contrary to estimates, retail sales declined 1.6% in the month of August instead of a somewhat smaller -0.5%. EUR/GBP Price Chart USD/JPY The market is reflecting bearish signals for this currency pair. After failing to break over 145, USD/JPY is still in an ascending trend channel. 144.95 may continue to act as resistance because it is the 161.8% Fibonacci Extension of the late-July decline from 139.39 to 130.39. It has recently been tested, reaching peaks of 144.97 and 144.99, the latter of which is a 24-year high. This region might be crucial for the next significant USD/JPY movement. The Bank of Japan called banks in Tokyo last week as 145 approached, requesting a rate review. The market has interpreted this to mean that the central bank may be considering intervening should the price rise above 145. Of course, if the price trades over that level and they do not act, an aggressive move might be observed. The following potential resistance level to watch could be the ascending trend line that now splits around 145.90. USD/JPY Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Altcoins: STEPN (GMT) - What Is It? - A Deeper Look Into the STEPN (GMT) Platform

Altcoins: STEPN (GMT) - What Is It? - A Deeper Look Into the STEPN (GMT) Platform

Rebecca Duthie Rebecca Duthie 19.09.2022 17:47
Summary: What is The STEPN Platform and how does it work? What makes the STEPN exchange unique? STEPN’s present and future price positions. The STEPN (GMT) platform On the Solana blockchain, STEPN is a self-described "Web3 lifestyle app" with GameFi components. It creates a new category called "move-to-earn" by fusing elements of a play-to-earn game and a fitness software. Users purchase NFT sneakers so they can walk, run, or jog while earning in-game currency. By encouraging millions of users to lead healthier lifestyles, STEPN seeks to transform the fitness application business. The app addresses a number of issues, such as "proof of movement" (demonstrating that users actually exercised) and a working GPS system. Additionally, STEPN monetarily pays users, intends to include social reward components, and successfully contributes to carbon neutrality. The app, which works on both Android and iOS, only took five months to go from its initial development to the open beta stage. Following a successful IDO in March 2022, STEPN intends to improve its in-game features and introduce them to a number of additional chains. Proof of performance came from STEPN's proof of concept from that coding contest. The STEPN app employs NFTs to feed data obtained from users' smartphones' accelerometer, gyroscope, magnetometer, and GPS sensors. It is hosted on the quick Solana blockchain. The STEPN program measures a variety of physical activities based on this technology. However, as the name suggests, it focuses mostly on three: walking, jogging, and running. NFT sneakers, which track all activity, are where the revenue and gamification come into play. The longer-term earning potential, however, ensures that there is never a lack of players. Each NFT sneaker has characteristics with STEPN that affect its sell value. Additionally, these qualities can level up through exercise, just like a character in a role-playing game. STEPN (GMT): The primary governance token has a supply cap of six billion. Owners of GMT tokens may use it to cast a vote on the allocation of STEPN funds. Additionally, GMT tokens are used to pay STEPN holders with sneakers level 30 and higher. Green Satoshi Token (GST): A utility token with an unlimited supply that is produced every day. Similar to that, members receive daily payments based on their activity goals. The uniqueness of STEPN STEPN seeks to transform the fitness sector in a number of ways. First, it uses a simple token reward system to encourage people to lead healthier lifestyles. Users can start earning in the game's Solo Mode by purchasing a pair of NFT sneakers after installing the app and creating a wallet. They can gain Green Satoshi Tokens by moving around and moving around quickly (GST). The amount of GST that different types of sneakers can return varies, and the better the efficiency attribute, the more GST the user can make every minute. The gamification of fitness is now introduced, which is STEPN's second groundbreaking component. STEPN gamifies exercise and encourages users to lead healthy lifestyles with the use of the app's in-game awards, daily energy allocations, and personalized footwear. The software intends to include a Marathon Mode in the future, which will have weekly and monthly races between 2.5km and 15km. The top-ranked runners will receive additional benefits. Marathon participants will be able to earn and compare their accomplishments on a leaderboard. Finally, STEPN offers users two methods to signal: by positively influencing carbon neutrality and earning tokens for it, or by leading a better lifestyle and earning tokens for it. The former rewards users financially and emotionally. The second is accomplished by STEPN's financial support of Solana's purchase of Carbon Removal Credits to fight climate change. Present and future prices of The STEPN network (GMT) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, GMT does fall under this category. According to some analysts, the future price of The STEPN network (GMT) could reach up to $7.16 by 2025 and could see a price of more than $38.86 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. STEPN Price Chart Sources: finance.yahoo.com, coinmarketcap.com, makeuseof.com, changelly.com
Corn Prices Recorded Their Biggest Weekly Gain, Gold Demand In India May Suffer A Temporary Setback

Aggressive Monetary Tightening Dampened Brent Crude Oil Forecasts, Silver Futures Falling, Corn Futures

Rebecca Duthie Rebecca Duthie 19.09.2022 16:50
Summary: Brent crude oil dropped for their third consecutive week. Higher-than-anticipated US inflation fueled concerns that the Fed might raise interest rates quicker. Brent crude oil faced 3 weeks of declines After three weeks of falls, Brent crude futures dropped below $91 per barrel on Monday as aggressive monetary tightening and recession worries dampened the forecast for demand before the European Union's embargo on Russian oil in December. Investors are getting ready for a flurry of interest rate announcements this week, led by the US Federal Reserve, which is anticipated to deliver another enormous rate hike to fight inflation. The top crude importer in the world had a wider opening when Chengdu, a city in China, removed a two-week lockdown. For the first time in three weeks, US energy companies added oil and natural gas rigs last week, signaling a future with higher output on the supply side. In Europe, as the country struggles with a deepening energy crisis that threatened to plunge the eurozone into a recession, Germany seized the local branch of a significant Russian oil refinery. Brent Crude Oil Futures Price Chart Silver prices trading below 4 weeks highs Silver futures were trading at $19.5 per ounce, remaining below the nearly four-week high of $19.8 reached on September 12 as higher-than-anticipated US inflation fueled concerns that the Federal Reserve might raise interest rates more quickly than anticipated, leading investors to the US dollar rather than non-yielding bullion investments. Speculations that the US central bank would give a more aggressive 100bps increase in its funds rate next week were sparked by worries that price rise may not have peaked yet, boosting predictions that borrowing might go to as much as 4.3% in early 2023. The European Central Bank (ECB) indicated it will keep raising interest rates after its September meeting, which saw a 75bps increase. According to Bank of France president Villeroy, as policymakers work to reduce inflation from its current historically high levels, borrowing prices in the bloc may approach a neutral level by the end of the year. Silver Dec ‘22 Futures Price Chart Corn Trading on a contract for difference (CFD) that reflects the benchmark market for this commodity shows that corn has gained 78.71 USd/BU or 13.27% since the start of 2022. Corn Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
4 Cryptocurrencies To Keep A Watch On: Immutable (IMX), Smooth Love Potion (SLP), Chainlink (LINK), Enjin Coin (ENJ)

4 Cryptocurrencies To Keep A Watch On: Immutable (IMX), Smooth Love Potion (SLP), Chainlink (LINK), Enjin Coin (ENJ)

Rebecca Duthie Rebecca Duthie 16.09.2022 18:57
Summary: A summary of IMX, SLP, LINK, ENJ, Proof of work, proof of stake, proof-of-history zk-rollups, NFTs, DeFi. Th Immutable (IMX) platform As the first layer-two scaling option for NFTs on Ethereum, Immutable X places itself in this space. Immutable X claims that its blockchain overcomes Ethereum's drawbacks, including its low scalability, subpar user experience, lack of liquidity, and delayed development experience. Instead, users get to experience $0 gas costs for minting and trading NFTs, instant trading, and vast scalability without compromising asset or user security. Immutable X uses STARK zk-rollups, a technology that Vitalik Buterin believes Ethereum is "all-in" on, to do that. One advantage of Immutable X is that it is one of the first layer-two systems to use zk-rollups and to concentrate just on NFTs. The project is at the forefront of advancement in the Ethereum ecosystem as zk-rollups gain popularity as a scaling option. If Immutable X can accomplish its projected transaction speed of more than 9,000 tps, it stands a decent possibility of becoming the standard "NFT blockchain" in the future. Read more: Altcoins: Immutable X (IMX) - What Is It? - A Deeper Look Into the Immutable X (IMX) Platform  The Smooth Love Potion (SLP) platform By taking part in the Axie Infinity game, players can acquire Smooth Love Potion (SLP) tokens. Experience points are replaced by this digital asset. SLP are ERC-20 tokens that may be used to create new Axies, or virtual pets. Beginning at 100 SLP, the cost of breeding rises steadily to 200 SLP for the second breed, 300 SLP for the third, 500 SLP for the fourth, 800 SLP for the fifth, and 1,300 SLP for the sixth. The seventh breed of Axies costs 2,100 SLP and can only be produced a maximum of seven times. This cap is in place to guard against market hyperinflation. SLP is particularly distinctive in that it is one of the select few in-game tokens that Binance has listed in its Innovation Zone. For assets "that are anticipated to have higher volatility and offer a larger risk than other tokens," the exchange has set aside this trading category. Read more: Altcoins: Smooth Love Potion (SLP) - What Is It? - A Deeper Look Into the Smooth Love Potion (SLP) Platform  The Chainlink (LINK) platform Chainlink, a blockchain abstraction layer that was established in 2017, enables globally interconnected smart contracts. Chainlink, a decentralized oracle network, enables blockchains to interact securely with external data feeds, events, and payment methods while providing the crucial off-chain information required by sophisticated smart contracts, which are quickly taking over as the primary type of digital contract. A sizable open-source community of data producers, node operators, smart contract developers, researchers, security auditors, and others powers the Chainlink Network. The firm is committed to ensuring that all node operators and users who want to contribute to the network are assured decentralized involvement. Chainlink, a decentralized network, enables users to operate nodes and generate income from the vital data infrastructure necessary for the operation of blockchains. Chainlink powers a sizable number of decentralized Price Feed oracle networks that are already in operation and safeguard billions of dollars in value for top DeFi applications like Synthetix, Aave, Compound, and others. Read more: Altcoins: Chainlink (LINK) - What Is It? - A Deeper Look Into the Chainlink (LINK) Platform  The Enjin (ENJ) platform Enjin is a startup that offers an ecosystem of linked, blockchain-based gaming devices. Enjin Coin is one of its projects. The Enjin Network, a social gaming platform where users can create websites and clans, communicate, and run virtual goods stores, is the company's main product. On the Ethereum blockchain, in-game objects can be tokenized using Enjin, according to game developers. The digital assets released through its platform are backed by Enjin Coin, an ERC-20 token, allowing for the purchase, sale, and exchange of goods with real-world value. In order to give in-game assets real-world liquidity, co-founder Radomski claims that Enjin Coin is unique in that any token created with Enjin Platform, the company's blockchain asset production platform that debuted in February 2020, is directly backed by ENJ. In a similar vein, Blagov has said that the business is centered on adoption and that he envisions a time when millions of players use digital goods backed by Enjin Coin without even being aware that such a thing exists. Read more: Altcoins: Enjin Coin (ENJ) - What Is It? - A Deeper Look Into the Enjin Coin (ENJ) Platform  Sources: fxmag.com
Crude Oil Price:  A Crucial Event Takes Place In The Week Ahead

Gold Futures Nearing 2 Year lows, Growing Recession Fears Dragging Down WTI Crude Oil, Cotton Futures Touching 4 Week Lows

Rebecca Duthie Rebecca Duthie 16.09.2022 17:34
Summary: Gold was expected to have its fourth losing week. WTI oil futures are still expected to decrease for the third consecutive week. Cotton futures were trading at levels not seen in more than four weeks. Strong US dollar driving gold down On Friday, the price of gold was hovering around $1,660 per ounce, close to two-year lows, and was expected to have its fourth losing week in five as a result of the strong dollar and the Federal Reserve's upcoming interest rate hike. Fears that the Fed may need to act even more aggressively to stop rising prices were confirmed by strong US retail sales and jobless claims statistics on Thursday and a surprise hot CPI reading earlier this week. In times of increased economic uncertainty, gold also lost its appeal as a safe-haven commodity when the World Bank and IMF cut growth projections for major economies and major US companies provided dovish advise on bleak economic prospects. Even though gold is regarded as a hedge against inflation and economic uncertainty, its attraction is diminished by increased interest rates, which increase the opportunity cost of storing non-yielding bullion. Gold Dec ‘22 Futures Price Chart WTI Crude Oil expected to decline for the third consecutive week As aggressive monetary tightening by major central banks and concerns about a global recession lowered demand expectations, WTI oil futures remained stable near $85 per barrel on Friday but were still expected to decrease for the third consecutive week. Energy prices were also under pressure due to a strong dollar, which increases the cost of goods for consumers using foreign currencies. In addition, the US Department of Energy reversed earlier claims that the US would replenish its emergency stocks should WTI prices fall below $80, removing the possibility of an oil price floor. This led to a sharp decline in oil prices on Thursday. China is considering allowing greater petroleum exports, which could indicate sluggish local demand on the supply side. The global oil market swung into a "substantial surplus" this quarter, according to Standard Chartered Plc, while Morgan Stanley and UBS Group AG lowered near-term predictions due to recession concerns, according to Bloomberg. WTI Crude Oil Futures Price Chart Cotton falling as economic outlook sours As traders considered the potential of decreased demand and constrained supplies, cotton futures were trading at levels not seen in more than four weeks. New limits on top consumers as a result of COVID-19 China raised further doubts about the state of the world economy as a result of rising interest rates. In its most recent report, the USDA reduced both the U.S. output estimate and the global production forecast for the crop year 2022–2023 by 3 million bales each. The health of the natural fiber crop is in jeopardy, and supply issues have arisen as a result of the hot, dry weather in important American agricultural regions. Crops in India, another significant producer, are still in danger due to unfavorable weather and pest infestations in key growing regions. Cotton Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Platinum Futures, Wheat Touching 2-Month Highs, Gasoline Prices Are Falling

Platinum Futures, Wheat Touching 2-Month Highs, Gasoline Prices Are Falling

Rebecca Duthie Rebecca Duthie 15.09.2022 15:03
Summary:Platinum closed at their lowest level since November 2020.These wheat futures levels had not been reached since July.Gasoline prices are falling. Platinum Futures As global interest rates are expected to continue rising and should remain high for a prolonged period of time, even if it slows growth, platinum futures extended losses to below $850 per ounce, closing in on their lowest level since November of 2020. They have also been tracking other precious metals lower. The fed funds rate has already increased by 225 basis points since March at the Federal Reserve, the most potent central bank in the world. Fed policymakers are now advocating for rises to continue at least until the level of 4% in early 2019. Additionally, despite expectations that they would subside in the second part of the year, ongoing shortages and supply chain problems hurt the auto industry and lower demand for autocatalyst components. Platinum Oct ‘22 Futures Price ChartWheat Futures rallyMid-September saw a rise in Chicago wheat futures as expectations of a robust supply continued to dwindle. These futures levels had not been reached since July. As President Putin condemned the UN-brokered agreement that established a secure corridor for grain transport along the Black Sea, worries about a sudden halt in exports from Ukraine continued to encourage higher prices in global wheat markets. Putin said that Russia had been "cheated" out of the deal and vowed to change any clauses that may limit supply to significant importers. In the interim, WASDE updated its global supply predictions, raising them by 3.6 million bushels to 1.1 billion bushels as increased production from Russia and Ukraine partially offset lower beginning stockpiles elsewhere. According to the Russian Ministry of Agriculture, the findings of the most recent winter harvest in Russia indicate record-high yields and harvest areas. Wheat Futures Price ChartRBOB Gasoline FuturesUnited States - Reformulated Gasoline Blendstock for Oxygenate Blending (RBOB) Prices: According to the United States Federal Reserve, the price of regular gasoline in Los Angeles in January 2021 was 2.21600 dollars per gallon. Reformulated Gasoline Blendstock for Oxygenate Blending (RBOB) Prices: Regular Gasoline: Los Angeles historically peaked in January 2012 at 3.03400 and peaked in January 2003 at 1.03000. The following table gives the United States - Reformulated Gasoline Blendstock for Oxygenate Blending (RBOB) Prices along with a historical data chart and related metrics. Regular Gas: Los Angeles - last updated on September 20, 2022 by the US Federal Reserve. RBOB Gasoline Futures Price ChartSources: finance.yahoo.com, tradingeconomics.com
Altcoins: Flow (FLOW) - What Is It? - A Deeper Look Into the Flow (FLOW) Platform

Altcoins: Flow (FLOW) - What Is It? - A Deeper Look Into the Flow (FLOW) Platform

Rebecca Duthie Rebecca Duthie 14.09.2022 18:05
Summary:What is The Flow Platform and how does it work?Uniqueness of the Flow exchange.Flow’s present and future price positions.The Flow PlatformA new generation of games, apps, and the digital assets that fuel them will be built on Flow, a quick, decentralized, and developer-friendly blockchain. The only layer-one blockchain that was first developed by a team that continually provided excellent user blockchain experiences is called Flow: NBA Top Shot, Dapper Wallet, and CryptoKitties.The foundation of a brand-new, inclusive, and global digital economy is the FLOW token ("FLOW"), which serves as the Flow network's native currency. FLOW token is the energy that drives the network if Flow is the digital infrastructure. The money needed for the network and all applications built on top of it is called FLOW. FLOW is intended to act as both a means of payment and a long-term reserve asset for the whole Flow economy. Validators, developers, and consumers use the token to take part in the FLOW network and get incentives. Additionally, it is utilized to pay fees and take part in protocol governance in the future.The only blockchain that incorporates usability enhancements into the protocol layer is Flow, which was built from the ground up for mass adoption. Leading brands and developers are already constructing on Flow to enable innovative new experiences with top-notch content. Top entertainment companies, development studios, and venture-backed businesses make up the diverse ecosystem of Flow. Global IP companies like Warner Music, Ubisoft, the NBA, and the UFC are among the partners in the flow ecosystem. Other notable projects among the upcoming class of high-growth firms include Opensea.Flow’s UniquenessAdapting from and enhancing current solutions, Flow offers: Multi-role architecture: The network can scale to serve billions of users on Flow without sharding or diminishing decentralization of consensus thanks to the design of the network, which is unique. Resource-oriented programming: Cadence, a simple and secure programming language for crypto assets and apps, is used to create smart contracts on Flow. Ergonomics for developers: This network is built for those who want to create useful goods for the community, from upgradeable smart contracts to the Flow Emulator. Consumer onboarding: Flow was created with the general public in mind, and its payment onramps make switching from fiat to cryptocurrency a secure and frictionless process.Advantages of the FLOW exchangeUser friendly and ready for mainstream, With a strong emphasis on developer friendliness and making it simple for non-crypto users to participate, Flow is designed for widespread adoption. The Flow network, for instance, makes it simple for users to find misplaced keys. Additionally, Flow strives to streamline the numerous procedures needed to begin their preferred tasks. Dapper Labs uses Flow for all of their portfolio projects as a result.Flow does not make use of sharding, Sharding is not a permanent solution, despite the fact that it may be useful occasionally. The Flow ecosystem is able to avoid some of the problems that sharding can bring about by integrating its blockchain without it.Flow places emphasis on decentralisation, This ensures that more people can take part in the consensus process that secures the network because it is so simple for developers and users to join the Flow ecosystem.Flow is supported by some of the greatest brands and investors in the world, With more individuals getting interested in cryptocurrencies globally, the Flow ecosystem and FLOW token are poised to play a significant role in the widespread adoption of cryptocurrencies.Present and Future prices of The Flow network (FLOW)Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FLOW (FLOW) does fall under this category.According to some analysts, the future price of The FLOW network (FLOW) could reach up to $0.056 by 2025 and could see a price of more than $1.569 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. FLOW Price ChartSources: coinmarketcap.com, moonpay.com, swapspace.co
The British Pound Is Showing Signs Of Exhaustion Of The Bullish Force

US Dollar Rose In The Wake Of US CPI Inflation Reports (EUR/USD), UK CPI Inflation Data Exceeded Market Expectations (EUR/GBP, GBP/AUD)

Rebecca Duthie Rebecca Duthie 14.09.2022 17:11
Summary: Money market pricing indicates that the Fed will raise rates by 75 basis points. UK CPI inflation rate was lower in August than it was in July. According to economists, the Australian Dollar will fare better than any other major currency in 2022. USD rose, gold futures fell & stocks dropped sharply The market is reflecting mixed signals for this currency pair. The US Dollar rose, gold prices fell, and US stocks dropped sharply on Tuesday as a result of the August US CPI report's substantial effect on the financial markets. Headline Inflation in the US gained +0.1% m/m and +8.3% y/y, above expectations of no gain m/m and an increase of +8.1% y/y. Also hotter than anticipated, the core reading came in at +0.6% m/m versus a projection of +0.3%, while the y/y stood at +6.3% versus +6.1% anticipated. Money market pricing indicates that the Fed will raise rates by 75 basis points, but the tail-risk surprise has changed from a 50 to a 100 basis point increase. This reveals where the momentum is: more rate increases will result in the Fed Funds rate peak being higher than anticipated before the inflation report. EUR/USD Price Chart Has UK Inflation hit its peak? The market is reflecting mixed signals for this currency pair. Pound Sterling increased the day after the news broke. The UK CPI inflation rate was lower in August than it was in July, indicating that the price increase's peak may have already passed. This would be a favorable development for the outlook of the UK economy and, consequently, the Pound. However, the Bank of England's decision on September 22 looms large, and the final position of Sterling at the end of September may depend on whether they choose to raise interest rates by 75 or 50 basis points. According to analysts at certain large investment institutions, the market is expecting a 75 basis point increase from the Bank, which it must provide to maintain stable Pound exchange rates. The pound would decline if the Bank of England disappointed markets with a modest increase. EUR/GBP Price Chart GBP/AUD currency pair According to recent research from BMO Capital Markets, the Australian Dollar is a "quality" currency that is expected to increase in value against the U.S. Dollar and all other major currencies in the upcoming months. According to a BMO analysis of the Aussie Dollar, it is one of the best-performing currencies in 2022 because of a strong set of underlying reasons that support it. According to economists, the Australian Dollar will fare better than any other major currency in 2022 thanks to the nation's strong export market and sound domestic fundamentals. Australia's foreign exchange revenues have increased due to rising commodity prices, which has supported its currency. GBP/AUD Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Thursday's Bank's of England decision may be record-breaking!

UK CPI Inflation Data Reflected The First Drop In 1 Year

Rebecca Duthie Rebecca Duthie 14.09.2022 15:28
Summary: UK CPI inflation beat market expectations. UK CPI Inflation fell from its 40-year high reached in July. UK CPI Inflation Data Beat Market Expectations In August, the Bank of England and households experienced an unexpected - and presumably transitory - decrease in consumer price inflation for the first time in almost a year. Following a 40-year high of 10.1% in July, annual consumer price rise fell to 9.9% on Wednesday, according to the Office for National Statistics. This was the first decline since September 2021 and fell short of the 10.2% increase predicted by a Reuters poll. However, experts cautioned that inflation was anticipated to peak at approximately 11% in October, when a new home energy tariff cap begins, and that it might be difficult to decline because of underlying pressures and a new fiscal stimulus from the government. ⚠️BREAKING:*UK CPI INFLATION RISES 9.9% IN AUGUST, DOWN FROM 40-YEAR HIGH OF 10.1% 🇬🇧🇬🇧 pic.twitter.com/Lc5in4fnrW — Investing.com (@Investingcom) September 14, 2022 Following the passing of Queen Elizabeth, the British central bank decided to postpone raising interest rates until next Thursday. On September 22, the BoE is expected to increase rates by 0.75 percentage points to 2.5%, according to financial markets. With the exception of a temporary attempt to support sterling during a 1992 exchange rate crisis, this would be its largest rate increase since 1989. Despite a slowing economy at risk of recession, the majority of economists surveyed by Reuters believe a half-point increase is more plausible, and they also anticipate the BoE to keep raising rates into next year. A severe pressure on living standards has been brought about in Britain by the rise in European natural gas prices brought on by Russia's invasion of Ukraine, which has been compounded by post-COVID labor shortages and supply-chain bottlenecks. Inflation is lowest in several European nations, notably Spain and the Netherlands, but it is the highest among the G7's major advanced economies in the UK. Prime Minister Liz Truss's capping household energy costs The incoming Prime Minister Liz Truss's decision to cap household energy costs, which will increase by 25% rather than 80% in October, has made it marginally easier for the BoE to achieve its goal of returning inflation to its 2% objective, at least in the short term. Before the cap, analysts predicted that inflation may reach 15% or higher early the following year. In addition to promising other help and tax cuts, the government is anticipated to employ public borrowing to make up for the lower rates charged by energy providers. This is anticipated to cost approximately 100 billion pounds ($116 billion). According to experts, this additional stimulus for an economy that is nearly at full employment and experiencing the lowest unemployment rate since 1974 would prolong domestic inflation pressures and force the BoE to raise rates further in order to bring inflation back to its 2% objective. Sources: Reuters.com
Volume Of Crude Oil Rose For The Second Session In A Row

WTI Crude Oil Has Remained Relatively Stable, Coffee Futures, Palladium Futures Touch 4-week Highs

Rebecca Duthie Rebecca Duthie 14.09.2022 15:17
Summary: Crude traded in a narrow range as investors continue to gauge the outlook for global demand. Coffee has dropped more than 2% in 2022. Palladium prices are 30% lower than they were in March. WTI Crude Oil stayed relatively stable WTI oil futures have been trading in a narrow range this week, holding around $87 a barrel on Wednesday as investors continue to gauge the outlook for global demand. The International Energy Agency is still pessimistic about fundamentals in the near term, pointing out that as the global economic recession deepens, growth in oil consumption is predicted to decelerate in the last quarter of 2022. However, the Paris-based company anticipates a significant increase in demand by 2023. OPEC, on the other hand, provided a somewhat more upbeat picture, keeping to its projections for worldwide solid oil demand growth in 2022 and the following year and highlighting indications that developed countries are still able to withstand challenges like rising inflation. Market expectations for the continuation of the 2015 nuclear agreement between the West and Iran have fallen in the meanwhile, but reports that the US was considering restocking its strategic oil reserves helped to maintain prices to some extent. WTI Crude Oil Futures Price Chart Coffee futures Trading on a contract for difference (CFD) that monitors the benchmark price for this commodity shows that coffee has dropped 4.60 USd/Lb or 2.03% since the start of 2022. Coffee Dec ‘22 Futures Price Chart Palladium futures touch 4-week highs As the dollar index deviated from 20-year highs, palladium futures increased their gains to $2,200 per ounce, the highest level in almost four weeks. Nevertheless, in spite of rising interest rates and slowing GDP, palladium prices are 30% lower than they were in March. It is anticipated that central banks would keep raising interest rates to keep inflation from soaring even when the economy is slowing. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. However, there is still a shortfall on the palladium market. Palladium Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
S&P 500 Amongst The Major Indexes That Tanked On Tuesday

S&P 500 Amongst The Major Indexes That Tanked On Tuesday

Rebecca Duthie Rebecca Duthie 13.09.2022 19:10
Summary:Hotter than expected US CPI inflation data.Expectations of a hawkish Fed persist.S&P 500 declines on US CPI inflation dataAfter shocking inflation data revealed that prices grew more than anticipated last month, U.S. stocks plummeted on Tuesday. The Nasdaq Composite fell 4%, with the Nasdaq leading the way down in technology companies. The Dow Jones Industrial Average lost 870 points, or 2.7%, and the S&P 500 fell by 3%. The hotter than expected inflation data possibly erased any doubt of a 75 basis point hike from the Fed at the next FOMC, as the Fed remains committed to trying to control soaring inflation.Early on Tuesday, the Bureau of Labor Statistics released the Consumer Price Index (CPI) for August, which revealed that prices increased by 0.1% over the previous month and 8.3% over the previous year. The 8.1% increase in inflation over last year and the 0.1% drop over the previous month were both below what economists had predicted. This number indicates some reduction in price hikes, which earlier this year reached four-decade highs. However, this smaller-than-expected fall probably ensures that the Federal Reserve will raise interest rates by another 0.75% at its policy meeting the following week.Investors are now pricing in an 82% likelihood of a 0.75% rate hike next week and an 18% possibility of a 1% rate hike, according to data from the CME Group after Tuesday's report. This data showed a split of 75%-25% between a 75 basis point and a 50 basis point rate hike last week. The 10-year yield increased to approximately 3.44% on Tuesday, while the 2-year yield increased by 15 basis points to as high as 3.72%. There were also significant movements along the Treasury curve. S&P 500 Price ChartSources: finance.yahoo.com
Tokyo Raises Concerns Over Yen's Depreciation, Considers Intervention

US Dollar Rallies In The Wake Of CPI Inflation Data

Rebecca Duthie Rebecca Duthie 13.09.2022 18:17
Summary: U.S. inflation is running hotter than markets anticipated. Core inflation reading is the one that concerns the Fed the most. Core CPI increased by 0.6% in Augus US CPI Inflation Missed Market Expectations Data that showed U.S. inflation is running hotter than markets anticipated caused the Dollar to rise dramatically, giving the Federal Reserve more confidence to hike interest rates. After U.S. headline CPI inflation rose 8.3% year-over-year in August, defying expectations for a reading of 8.1%, stocks dropped and the safe-haven high-yielding Dollar surged, though it was still lower than July's 8.5%. But contrary to forecasts for a decline, the month-over-month metric increased by 0.1%, the BLS reported, up from July's reading of 0%. The core inflation reading will be the one that concerns the Fed the most. Core CPI increased by 0.6% in August, exceeding both the 0.3% market expectation and the 0.3% result in July. Core CPI inflation is the form of inflation that the Fed may be able to control through higher interest rates because it is domestically based and therefore excludes external factors like energy prices. Core CPI inflation increased by 6.3% on an annual basis, exceeding both July's 5.9% and the market's expectations of 6.1%. LISTEN NOW: Inflation rose 8.3% year-over-year — we discuss the hotter-than-expected CPI number. Listen and follow the @SquawkStreet podcast here or on your favorite podcast platform: https://t.co/BoklbeW3jy pic.twitter.com/v2SxAuQfsh — CNBC (@CNBC) September 13, 2022 With a 1.40% increase against the New Zealand Dollar and a 0.84% increase against the Euro, the dollar advanced versus all the major currencies. "In response to the data, all G10 currencies weakened against the US dollar, with the largest losses seen in currencies that had recently benefited from the improvement in risk conditions. The pound, euro, yen, Kiwi dollar, Aussie dollar, and Swedish krona have now recorded losses in excess of one percent against the greenback, while the Norwegian krone posted the largest decline as it is down 2% on the day," says Jay Zhao-Murray, Market Analyst at Monex Canada. Even though gasoline prices were down significantly, the U.S. inflation surprise still occurred, suggesting that the energy shock is still having an impact. However, everyone is still surprised by the lag. In the event that workers seek greater wage agreements and businesses increase their prices, the Fed will be eager to boost rates. Sources: poundsterlinglive.com
Altcoins: Landbox (LAND) - What Is It? - A Deeper Look Into the Landbox (LAND) Platform

Altcoins: Landbox (LAND) - What Is It? - A Deeper Look Into the Landbox (LAND) Platform

Rebecca Duthie Rebecca Duthie 13.09.2022 16:56
Summary: What is The Landbox Platform and how does it work? Uses of the Landbox exchange. Landbox’s present and future price positions. The Landbox platform A decentralized platform called Landbox (LAND) provides users with real-time updates and information on international real estate investing. The platform solves the real estate market problem that demands physical attendance, stability, security in transactions, inflexible transaction procedures, limited liquidity, a long gestation period, etc. To address these issues, Landbox has implemented three innovation systems: the Develop Relay Project (DRP), the Prop-Tech System, and the Crypto-Tech System. Landbox aims to create an ecosystem for information sharing where anyone can take part and safely and conveniently share real estate investment information, according to its whitepaper. The platform's DRP system links users to initiatives looking for funding for land compensation and replacement projects for urban growth. Blockchain technology is used by the prop-tech system to safeguard transactions, speed up real estate trading for users, and guarantee fair deals for traders. The system provides customers with low-cost advertising, a higher success rate, and compensation through a real estate Q&A service. In order to guarantee that customers receive LAND compensation and incentives for using the platform, the company also incorporates a crypto-tech system. Additionally, the platform has created an IT and blockchain solution for a real estate auction platform called Auction OK, which enables users to bid whenever and without restrictions for a suitable property at a reasonable price. Users of the Landbox platform can conduct transactions using LAND, the platform's native coin. The users can communicate within the site and with other users by using LAND. Additionally, users can access third-party projects they discovered on the site by paying with LAND tokens. ​​Business development can be enhanced by adopting "prop-tech," a digital solution fusing blockchain with real estate development. The first service item made available is "AuctionOK," a blockchain-based online real estate auction service. The major drawbacks of the current offline-based real estate auction system are addressed by this product. A patent application has been submitted to use blockchain to offer an online, non-personal real estate auction service. By lowering the entrance barrier for clients to participate in online real estate auctions, these platforms help this industry grow. Because it is the only platform to offer a comprehensive land management solution to farmers and ranchers, LandBox is a significant business. Farmers and ranchers can access land information, tools, and resources through the LandBox platform to assist them in making decisions regarding their land. Farmers and ranchers can manage their crops, cattle, and other assets on their land as well as sell or lease their land through the LandBox platform. Why Invest in Landbox (LAND) The ideal strategy to invest in LandBox (LAND) will depend on your unique situation, so there is no universally applicable solution to this query. However, the following are some potential benefits of purchasing LandBox (LAND): The business has a proven track record of achievement. The usage and management of land could be revolutionized by the LandBox (LAND) platform. The business has a solid group of seasoned professionals on staff that are dedicated to keeping their word. Users of the LandBox platform can buy and sell real estate. An auction system, a marketplace, and a property management system are just a few of the services available on the platform. In addition, LandBox has a referral program that pays members for bringing in new subscribers. Past and Present prices of The Landbox network (LAND) The price of LAND started high and reached its all time peak of more than $9 in late March of 2021. Since then the price dropped sharply and has remained low. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Landbox (LAND) does fall under this category. LAND Price Chart Sources: finance.yahoo.com, coinbase.com, cryptolog.com
Chile's Lithium Nationalization and the Global Trend of Resource Nationalism: Implications for EV Supply Chains and Efforts to Strengthen Battery Metal Supply

Uncertainty Around Europe's Energy Imports, Cotton Trading At 4-week Lows, Gold Demand Falling

Rebecca Duthie Rebecca Duthie 13.09.2022 15:44
Summary: Increased uncertainty regarding the demand for energy imports in Europe. Decreased demand and constrained supplies for cotton. Gold prices dropped to below $1700 an ounce on Tuesday. NGAS futures rose in September While there was increased uncertainty regarding the demand for energy imports in Europe as ministers discussed potential measures to reduce skyrocketing energy prices, US natural futures rose in September, recovering from the one-month low that was reached earlier in the month and extending the volatile momentum for energy commodities. Even so, costs are still well below the almost 14-year high of $10/MMBtu reached last month as demand was hampered by dropping temperatures. More gas will be available in the US for utilities to add to stocks for the upcoming winter as Freeport LNG anticipates a significant delay in the reopening of its Quintana export plant until November. NGAS Oct ‘22 Futures Price Chart Cotton trading at 4-week lows As traders considered the potential of decreased demand and constrained supplies, cotton futures traded at their lowest level in more than four weeks. Concerns over the prospects for the global economy owing to rising interest rates have been exacerbated by recent COVID-19-led limitations in top consumer China. In its most recent report, the USDA reduced both the U.S. output estimate and the global production forecast for the crop year 2022–2023 by 3 million bales each. The health of the natural fiber crop is in jeopardy, and supply issues have arisen as a result of the hot, dry weather in important American agricultural regions. Crops in India, another significant producer, are still in danger due to unfavorable weather and pest infestations in key growing regions. Cotton Dec ‘22 Futures Price Chart Gold futures falling A stronger dollar and a hotter-than-expected inflation print drove predictions of additional big rate hikes by the Fed to quell persistent inflationary pressures, and gold prices dropped to below $1700 an ounce on Tuesday. Despite a dramatic decline in gasoline prices, prices across the board increased overall, particularly for food and housing. Investors in Europe have bet that the ECB will keep raising borrowing costs sharply in the wake of this month's historic 75bps rate hike. Even though gold is regarded as a hedge against inflation and economic uncertainty, its attraction is diminished by increased interest rates, which increase the opportunity cost of storing non-yielding bullion. Gold Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradineconomics.com
Persistent Likelihood Of A Demand-Draining Global Economic Recession - Brent Crude Oil Futures, Silver Futures, Corn Futures

Persistent Likelihood Of A Demand-Draining Global Economic Recession - Brent Crude Oil Futures, Silver Futures, Corn Futures

Rebecca Duthie Rebecca Duthie 13.09.2022 02:28
Summary:Brent crude futures increased by a small amount, extending gains for the third session.Silver futures touching 3 week highs.Brent Crude Oil extends gains for third sessionOn Monday, Brent crude futures increased by a small amount to above $93.5 a barrel, extending gains for the third session. This was achieved despite concerns over a dimming demand picture and a US-led plan to control the price of Russian oil. The likelihood of a demand-draining global economic recession persisted, partly due to aggressive monetary tightening by major central banks and Covid-19 limits implemented by top crude importer China. As European sanctions begin to take effect in December, the Group of Seven is also attempting to persuade additional nations to join their efforts to restrict Moscow's energy revenues by setting a ceiling on Russian oil prices. Vladimir Putin, the president of Russia, promised to react by stopping all energy shipments to Europe if a price ceiling were to become law. Iran's commitment to a new nuclear accord has also been questioned by the UK, Germany, and France, which has delayed the possibility of an increase in Iranian oil exports. Brent Crude Oil Futures Price ChartSilver futures touch highest level in 3 weeksIn September, silver futures surged to nearly $19 per ounce, the highest level in three weeks, followed by other bullion assets during the US dollar's strong decline as investors continued to gauge how far the Federal Reserve will tighten policy. During the Cato Institute conference, Chairman Powell emphasized the language that the US central bank will keep raising interest rates to bring inflation significantly down, as markets continue to bet on the Fed raising rates by 75 basis points for a third time in a row this month. In other news, the ECB increased borrowing prices by a record-breaking 75 basis points to rein in the eurozone's soaring inflation and hinted at further tightening in upcoming sessions. Futures for silver are expected to end the week more than 4% higher. Silver Dec ‘22 Futures Price ChartCorn futures have gains 17.5% during 2022Trading on a contract for difference (CFD) that reflects the benchmark market for this commodity shows that corn has gained 103.81 USd/BU or 17.50% since the start of 2022. Corn Dec ‘22 Futures Price ChartSources: finance.yahoo.com, tradingeconomics.com
Altcoins: Enjin Coin (ENJ) - What Is It? - A Deeper Look Into the Enjin Coin (ENJ) Platform

Altcoins: Enjin Coin (ENJ) - What Is It? - A Deeper Look Into the Enjin Coin (ENJ) Platform

Rebecca Duthie Rebecca Duthie 12.09.2022 15:00
Summary: What is The Enjin Coin Platform and how does it work? What makes the Enjin exchange unique. Enjin’s present and future price positions. The Enjin Platform Enjin is a startup that offers an ecosystem of linked, blockchain-based gaming devices. Enjin Coin is one of its projects. The Enjin Network, a social gaming platform where users can create websites and clans, communicate, and run virtual goods stores, is the company's main product. On the Ethereum blockchain, in-game objects can be tokenized using Enjin, according to game developers. The digital assets released through its platform are backed by Enjin Coin, an ERC-20 token, allowing for the purchase, sale, and exchange of goods with real-world value. Enjin Coin was first introduced in July 2017 and debuted in June 2018 on the Ethereum mainnet. A digital store of value called Enjin Coin (ENJ) is used to support the value of blockchain assets like non-fungible tokens (NFTs). The minting resource ENJ, which is locked inside NFTs and taken out of circulation, is present in every asset created using the Enjin Platform. Using ENJ to mint blockchain assets offers both developers and users a number of advantages: Adds a reserve value to them. Make certain of their transparency and scarcity. They are given instance liquidity. Offers use in games and apps. Anti-inflationary. Users of Enjin can "melt" their blockchain assets at any time to recover the ENJ value contained therein. Aiming to provide software products that make it simple for anybody to produce, trade, monetize, and sell with blockchain, the Enjin blockchain ecosystem intends to be open to all. Enjin, a company that was established in 2009, has its origins in the gaming sector. Over the course of ten years, the Enjin Network, the company's first product, attracted 20 million members. Following an initial coin offering (ICO), Enjin positioned itself as a top developer of the blockchain ecosystem in 2017, creating a range of software tools that make it simple for anybody to create, maintain, trade, distribute, and integrate blockchain assets. The Enjin ecosystem, which is built on top of an on-chain infrastructure, makes it possible for game developers and organizations of all sizes to employ tokenized digital assets as part of their strategy for customer acquisition, retention, engagement, and monetization. Enjin Coin (ENJ), a cryptocurrency that supports the value of blockchain assets, powers the Enjin ecosystem. What makes Enjin unique? In order to give in-game assets real-world liquidity, co-founder Radomski claims that Enjin Coin is unique in that any token created with Enjin Platform, the company's blockchain asset production platform that debuted in February 2020, is directly backed by ENJ. In a similar vein, Blagov has said that the business is centered on adoption and that he envisions a time when millions of players use digital goods backed by Enjin Coin without even being aware that such a thing exists. Enjin Coin creates new, distinct fungible or nonfungible ERC-1155 tokens using a set of smart contracts to which game creators send ENJ. These tokens can be exchanged for their underlying ENJ at any time or traded on the Enjin Marketplace, which debuted in September 2019. More ENJ is taken from the ecosystem as more custom tokens are created, making ENJ scarcer. Enjin Coin employs a number of both on-chain and off-chain operations, according to its whitepaper. A Trusted Platform contacts users' smart wallets when a transaction is completed within the Enjin ecosystem, and the website or game is updated right away with a placeholder or nontradable version of the digital asset until the transaction has been approved by the Ethereum blockchain. Present and future prices of The Enjin Coin network (ENJ) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ENJ does fall under this category. According to some analysts, the future price of The Enjin network (ENJ) could reach up to $7.6 by 2025 and could see a price of more than $9 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ENJ Price Chart Sources: finance.yahoo.com, coinmarketcap.com, cryptonewzs.com  
ECB press conference brings more fog than clarity

Euro Shows Strength On Monday (EUR/USD), UK Inflation Data Ahead (EUR/GBP), USD Gains Against The JPY(USD/JPY)

Rebecca Duthie Rebecca Duthie 12.09.2022 14:25
Summary: Ukrainian resistance in the country's east boosted the Euro. EUR/GBP may struggle in the wake of UK inflation data release. USD had a rough start to the week against the euro. Euro strengthened during Monday’s session The market is reflecting bullish signals for this currency pair. The news of Ukrainian resistance in the country's east as Ukrainian soldiers launched a counteroffensive caused the euro to rally by a significant 1.4% this morning. Bringing our attention back to the ECB, there was evident unhappiness among the board members after the significant 75 basis point increase was fully anticipated by the markets and had little to no impact on them. The infamous ECB "sources" said shortly after President Lagarde's address that rate increases could reach 2% (restrictive territory) to fight inflation and hinted in some way that the 2023 growth prediction was a bit on the "rosy" side. Finally, sources claimed that QT was imminent, with negotiations set to begin in October and a likely announcement to be made at the October ECB meeting. EUR/USD Price Chart EUR/GBP risk could increase The market is reflecting mixed signals for this currency pair. In the days ahead, when the market will likely be most interested in UK inflation data that could further increase the already elevated risk of aggressive interest rate action from the Bank of England (BoE) next week, the Pound to Euro exchange rate may struggle to get off the ground after falling last week. When the Bank of England (BoE) announces its interest rate decision for September on September 22 after delaying it to accommodate the nation's day of mourning for Her Majesty Queen Elizabeth II, the new fiscal package might have a substantial impact on the BoE's monetary policy. EUR/GBP Price Chart USD/JPY currency pair The market is reflecting bearish signals for this currency pair. The US Dollar had a mixed week to start, falling versus the Euro but rising once more against the Japanese Yen. The EUR/JPY moved closer to Friday's 8-year high as a result. Other currency combinations were generally quiet. Despite further browbeating from Japanese officials—this time from Deputy Chief Cabinet Secretary Seiji Kihara—the Yen weakened. He mentioned that excessively one-sided currency movements are being watched. In order to take advantage of the depreciating Yen and stimulate the economy, Japan recently announced a relaxation of travel regulations for visitors traveling domestically. USD/JPY Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com  
Brent Crude Oil Stayed Quite Strong Yesterday Rising 0.7%, But In The Near Future Commodites May Be Endangered By (USD) US Dollar's Dominance And More

Persistent Likelihood Of A Demand-Draining Global Economic Recession - Brent Crude Oil Futures, Silver Futures, Corn Futures - 13.09.2022

Rebecca Duthie Rebecca Duthie 12.09.2022 12:00
Summary: Brent crude futures increased by a small amount, extending gains for the third session. Silver futures touching 3 week highs. Brent Crude Oil extends gains for third session On Monday, Brent crude futures increased by a small amount to above $93.5 a barrel, extending gains for the third session. This was achieved despite concerns over a dimming demand picture and a US-led plan to control the price of Russian oil. The likelihood of a demand-draining global economic recession persisted, partly due to aggressive monetary tightening by major central banks and Covid-19 limits implemented by top crude importer China. As European sanctions begin to take effect in December, the Group of Seven is also attempting to persuade additional nations to join their efforts to restrict Moscow's energy revenues by setting a ceiling on Russian oil prices. Vladimir Putin, the president of Russia, promised to react by stopping all energy shipments to Europe if a price ceiling were to become law. Iran's commitment to a new nuclear accord has also been questioned by the UK, Germany, and France, which has delayed the possibility of an increase in Iranian oil exports. Brent Crude Oil Futures Price Chart Silver futures touch highest level in 3 weeks In September, silver futures surged to nearly $19 per ounce, the highest level in three weeks, followed by other bullion assets during the US dollar's strong decline as investors continued to gauge how far the Federal Reserve will tighten policy. During the Cato Institute conference, Chairman Powell emphasized the language that the US central bank will keep raising interest rates to bring inflation significantly down, as markets continue to bet on the Fed raising rates by 75 basis points for a third time in a row this month. In other news, the ECB increased borrowing prices by a record-breaking 75 basis points to rein in the eurozone's soaring inflation and hinted at further tightening in upcoming sessions. Futures for silver are expected to end the week more than 4% higher. Silver Dec ‘22 Futures Price Chart Corn futures have gains 17.5% during 2022 Trading on a contract for difference (CFD) that reflects the benchmark market for this commodity shows that corn has gained 103.81 USd/BU or 17.50% since the start of 2022. Corn Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Brent Crude Demand Continues To Deteriorate, Gold May End Its 3-week Losing Run, Palladium Futures Prices Drop

Brent Crude Demand Continues To Deteriorate, Gold May End Its 3-week Losing Run, Palladium Futures Prices Drop

Rebecca Duthie Rebecca Duthie 09.09.2022 15:02
Summary:A strong US dollar, rising interest rates, and slowing GDP are contributing to the decline in palladium futures prices.Gold prices increased on Friday.Brent Crude Demand deteriorating.Brent Crude Oil futuresAlthough Brent crude futures held steady around $89 per barrel on Friday, they were still on track to experience their second consecutive weekly decline due to a deteriorating demand outlook caused by aggressive monetary tightening by central banks and Covid-19 curbs in China, the world's largest importer. This week, the UK benchmark has lost approximately 4% of its value, at one time falling to seven-month lows. On Thursday, the European Central Bank announced a historic rate increase of 75 basis points, while Federal Reserve Chair Jerome Powell reaffirmed the Fed's commitment to battling inflation. The megacity of Chengdu in China extended a lockdown on Thursday for the majority of its more than 21 million inhabitants, underscoring the nation's rigid devotion to its zero-Covid plan that is impeding economic recovery and casting doubt on the demand outlook. OPEC+'s unexpected reduction in output, Russia's threat to cut off energy supplies to nations who support a cap on the price of its petroleum, and a deteriorating picture for US supply couldn't stop the slide in oil prices. Brent Crude Oil Futures Price ChartGold prices on track to end a 3-week losing runGold prices increased toward $1,720 an ounce on Friday and were on course to end a three-week losing run, benefiting from a decline in the value of the dollar as investors processed statements on inflation from Federal Reserve Chair Jerome Powell. The markets accepted Powell's declaration that the Fed is "fully committed" to combating inflation in stride since they had already priced in another enormous 75 basis point rate hike at this month's policy meeting. In addition, the European Central Bank announced a historic rate increase of 75 basis points on Thursday and hinted at more tightening as it seeks to outpace inflation despite increased recession risks. As interest rates rose and the demand for metal fell, gold's appeal as a hedge against inflation and economic uncertainty also faded, and it is currently only 3% above its lowest levels in more than two years. Gold Dec ‘22 Futures Price ChartPalladium futures prices droppingThe strongest US dollar in nearly seven weeks, rising interest rates, and slowing GDP all contributed to the decline in palladium futures prices, which dropped below $1,780 per ounce. It is anticipated that central banks would keep raising interest rates to keep inflation from soaring even when the economy is slowing. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. Even so, there is still a shortage on the palladium market. Palladium Dec ‘22 Futures Price ChartSources: finance.yahoo.com, tradingeconomics.com
4 Cryptocurrencies To Keep A Watch On: Elrond (EGLD), Geojam (JAM), Alpine F1 Team Fan Token (ALPINE), QTUM Token (QTUM)

4 Cryptocurrencies To Keep A Watch On: Elrond (EGLD), Geojam (JAM), Alpine F1 Team Fan Token (ALPINE), QTUM Token (QTUM)

Rebecca Duthie Rebecca Duthie 09.09.2022 14:00
Summary: A summary of EGLD, JAM, ALPINE, QTUM, Proof of work, proof of stake, proof-of-history AAL, NFTs, DeFi. The Elrond platform Elrond is a blockchain protocol that uses sharding to provide incredibly quick transaction rates. According to the initiative, the Internet of Things, decentralized finance, and fintech make up the new internet's technology ecosystem. According to reports, its infrastructure for executing smart contracts can handle 15,000 transactions per second with a six-second latency and a $0.001 transaction fee. The native coin of the blockchain is called eGold, or EGLD, and it is employed for network fee payment, stake payments, and validator rewards. Elrond bills itself as a blockchain platform for enterprise use, decentralized apps, and the emerging internet economy. Its tremendous scalability is its key selling feature, and it claims to be the first blockchain network to handle state, network, and transaction sharding. It aims to strengthen its ecosystem and establish EGLD as a store-of-value asset, according to its economics paper.  Read more: Altcoins: Elrond (EGLD) - What Is It? - A Deeper Look Into the Elrond (EGLD) Platform  The Geojam Platform Fans can now interact directly with celebrities, athletes, and influencers like Mariah Carey, Machine Gun Kelly, and Nyjah Huston thanks to Geojam. With the launch of the cryptocurrency, $JAM, the platform integrates the principles of independent cryptocurrency communities and traditional social networking while fusing the technological developments of decentralised finance with real-world experiences. There are now two ways on the platform to redeem experiences and extra offerings: jam shop transactions and campaign competitions. Two new pool types, Creator Access Pools and Proposal Pools, will soon be introduced on Geojam (CAPs). On Geojam, pools function similarly, requiring participants to stake $JAM in return for rewards and access to an endless array of games, experiences, and unique items in the Jam Shop.  The following is a breakdown of their products: Pools of proposals Geojam and user-generated initiatives are requests for features or creator opportunities, and proposals are  a type of platform governance where users must stake $JAM to participate. In the end, many of these ideas will become experiences in Creator Access Pools (CAP). Read more: Altcoins: Geojam Token (JAM) - What Is It? - A Deeper Look Into the Geojam (JAM) Platform  The Alpine F1 Team Fan Token platform The biggest and most well-known cryptocurrency exchange in the world, Binance, has created the first Formula One-themed fan token called Alpine F1 Team Fan Token (ALPINE). The ALPINE token will enable supporters of the Alpine F1 Team an opportunity to interact with the racing brand after Binance published its first fan token in LAZIO. The ALPINE cryptocurrency has a number of present and potential uses, according to Binance. Owners of ALPINE tokens will have access to voting sessions on Binance once the token launches. Other fan tokens like LAZIO and PORTO allowed fans to vote on subjects like selecting the starting eleven for a test game and influencing what color the captain's band should be, although Alpine hasn't yet provided any ideas regarding how this could appear in practice. Read more: Altcoins: Alpine F1 Team Fan Token (ALPINE) - What Is It? - A Deeper Look Into the Alpine F1 Team Fan Token (ALPINE) Platform  The QTUM Token platform Qtum (pronounced "quantum") is an open-source blockchain platform for proof-of-stake (PoS) smart contracts and a value transfer mechanism. It aspires to combine the advantages of Bitcoin and Ethereum into a single chain. With the addition of smart contract execution and DApps, Qtum is based on Bitcoin's UTXO transaction architecture. DeFi applications are now supported by the platform. Qtum is a general-purpose blockchain that aims to address the four issues that its founders found most problematic with the BTC and ETH blockchain platforms: governance, interoperability, rigidity and cost of the proof-of-work mechanism, and difficulty connecting smart contracts with practical applications. Account Abstraction Layer (AAL) and Decentralized Governance Protocol are two distinctive technologies on the Qtum blockchain that seek to address this issue (DGP).  Read more: Altcoins: QTUM Token (QTUM) - What Is It? - A Deeper Look Into the QTUM (QTUM) Platform  Sources: fxmag.com
Apple (APPL) New Products Release

Apple (APPL) New Products Release

Rebecca Duthie Rebecca Duthie 08.09.2022 16:47
Summary:Apple released their latest products on Wednesday.Apple’s latest tech additionsWhile there were some unexpected details and features of Apple's (AAPL -0.52%) new goods disclosed during the company's major event yesterday, the company's three key refreshes—new iPhones, an improved Apple Watch lineup, and next-generation AirPods Pro—were mostly anticipated. With no major surprises, investors may be tempted to think that the event was a letdown. However, the following is problematic with the firm's most recent products: They stand for the most significant business sectors for Apple. In other words, just in time for the holidays, the tech giant updated the products that are arguably most crucial to the growth of its company.To say that the iPhone is vital to Apple is an understatement. It's crucial. In the most recent quarter, sales of the iPhone represented almost half of the business's revenue. Therefore, a new variety of iPhones will benefit Apple as it approaches the holiday season. But what some investors might not realize is that Apple's "wearables, home, and accessories" business division just overtook its services business to become the company's second-largest segment, which is not a product segment. This indicates that the products in this area, including Apple Watch and AirPods, have evolved into a big catalyst for the business. Furthermore, the market is expanding quickly. Wearables, home, and accessories revenue climbed 25% year over year in 2021.With so many new goods in its two key product categories, Apple may experience significant revenue increase in the upcoming quarters. Of yet, if Apple's recent supply chain constraints are any indication of the difficulties the business will encounter this holiday season, it's possible that production, rather than demand, could ultimately determine the company's growth in sales over the following months. However, if its production limitations loosen, Apple's chances of experiencing real sales growth are increased by a fresh, new product selection across important categories. APPL Price ChartSources: finance.yahoo.com, fool.com
The EUR/USD Pair Is Still In A High Position On The 1H Chart

ECB Interest Rate Decision (EUR/USD), UK Government Plans To Cap Gas Prices (EUR/GBP, GBP/AUD)

Rebecca Duthie Rebecca Duthie 08.09.2022 15:45
Summary: ECB raised all 3 major interest rates by 75bps. UK Government capping gas prices for next 2 years. RBA nearing the end of its interest rate hiking cycle. ECB interest rate hikes The market is reflecting bullish signals for this currency pair. To combat record-high inflation in the Euro Area, the ECB increased each of the three major interest rates by 75 basis points. Markets and experts had generally anticipated the decision to raise interest rates by 75 basis points, thus the first impact on the Euro has been muted so far. The ECB also noted that the governing council anticipates raising rates during the coming sessions, which is consistent with money market pricing, which projects a further 92 basis points of tightening by year's end. Looking ahead, attention will primarily be on ECB President Lagarde's news conference, where she is expected to discuss the necessity to raise interest rates into restrictive territory (above neutral rates) in order to support the euro in the short term. The energy crisis, which continues to put pressure on the Euro through parity, is the major story, though. EUR/USD Price Chart UK Government to cap gas prices The market is reflecting mixed signals for this currency pair. Following the announcement that the UK government would cap annual UK gas prices at £2500 for the next two years, the likelihood of a stronger finish to 2022 for the British Pound moved closer. An influential economist claims that the action effectively keeps UK inflation at current levels and averts the possibility of a recession. Investors have dumped sterling in recent months due to concerns that the UK would be among the nations worst affected by a confluence of rising inflation and slowing economic growth. Therefore, Truss' intervention refutes this claim, stating that the changes will probably reduce inflation's predicted peak by 5 percentage points. EUR/GBP Price Chart RBA nearing the end of their interest rate hiking cycle The Reserve Bank of Australia (RBA) is reaching the conclusion of its interest rate hike cycle, according to Governor Philip Lowe, which will cause the Australian Dollar to weaken. In the meantime, data indicating the nation's outstanding trade surplus shrank in July put additional pressure on the Australian dollar. According to Lowe, disparities between Australian and American pay setting practices allow the RBA to afford to slow pace. GBP/AUD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
The Markets Still Hope That The Fed May Consider Softer Decision

The ECB Interest Rate Decision - Met Market Expectations

Rebecca Duthie Rebecca Duthie 08.09.2022 14:25
Summary: ECB policy rate decision. ECB met interest rate expectations. ECB Decision Met Expectations The ECB on Thursday hiked interest rates by 75bps - meeting market expectations. Deposit Facility rate of the ECB exceeded market expectations, by 25bps, coming in at a 75bps rate hike. ECB Interest rate Decision The European Central Bank (ECB) policy announcement on Thursday may have some potential effects on the foreign exchange market, according to a "crib sheet" published by ING Bank. The market is anticipating a 75 basis point increase as the ECB looks to take swift action against inflation before the Eurozone's growth slows and a recession takes hold. However, ING economists believe that the market is mistaken in using 75 basis points, which might be the day's first significant source of volatility for the Euro. "Policymakers in Frankfurt will likely have to choose between a 50bp or 75bp rate hike this week. We think that a 75bp move would be too hard to digest for the dovish front within the Governing Council, and our call is for a 50bp move," says Francesco Pesole, a foreign exchange strategist at ING. According to ING's base case scenario, a 50bp would fall short of market expectations, causing the Euro to Dollar exchange rate (EUR/USD) to decline. In this base scenario, the ECB also projects weaker growth rates for the Eurozone, anticipating a wintertime recession. While high inflation will continue, it will start to decline over the outlook horizon, according to ECB predictions. If the ECB took an even more "dovish" posture, they would raise interest rates by 25 basis points as they assessed the severity of the impending economic slowdown, which would be reflected in their revised GDP projections. Inflation forecasts that indicate prices drop down to the 2.0% target over the forecast horizon would also be part of this dovish scenario. According to this call, the EUR/USD is expected to trade close to 0.96. However, the ECB will be keenly aware of the effects their decisions will have on the Euro because a weak Euro itself is an inflationary phenomenon because it drives up the price of importing commodities. This is especially detrimental during a crisis brought on by high gas and oil import prices. Sources: investing.com, poundtserlinglive.com
Platinum Closes At Lowest Level Since November 2020, Wheat Futures, RBOB Gasoline Expected To Decline

Platinum Closes At Lowest Level Since November 2020, Wheat Futures, RBOB Gasoline Expected To Decline

Rebecca Duthie Rebecca Duthie 08.09.2022 13:33
Summary:Platinum futures weighed down by rising interest rates.Concerns around wheat supply persist.American refineries to overproduce fuel in an effort to replenish low stockpiles of diesel and heating oil.Platinum futuresAs global interest rates are expected to continue rising and should remain high for a prolonged period of time, even if it slows growth, platinum futures extended losses to below $850 per ounce, closing in on their lowest level since November of 2020. They have also been tracking other precious metals lower. The fed funds rate has already increased by 225 basis points since March at the Federal Reserve, the most potent central bank in the world. Fed policymakers are now advocating for rises to continue at least until the level of 4% in early 2019. Additionally, despite expectations that they would subside in the second part of the year, ongoing shortages and supply chain problems hurt the auto industry and lower demand for autocatalyst components. Platinum Oct ‘22 Futures Price ChartWheat futures risingAfter Russian President Putin condemned the UN-brokered agreement with Ukraine to construct a secure corridor for grain transport along the Black Sea, Chicago wheat futures continued to rise in September, lingering near levels last seen in July. The remarks sparked worries about potential interruptions from one of the world's top exporters, risking weaker supply and altering global stock outlooks that kept wheat prices high from March to May. In order to free up storage space for the upcoming harvest, Ukraine anticipates selling more than 20 million tonnes of grain that are said to have collected in port silos since its invasion began on February 24. Wheat Futures Price ChartRBOB Gasoline expected to declineAccording to analysts and traders, wholesale gasoline prices are anticipated to continue declining in the upcoming months as American refineries overproduce fuel in an effort to replenish low stockpiles of diesel and heating oil. The amount of distillate products in stock in the United States, which also includes jet fuel, is at its lowest point in more than ten years. Due to the great demand for such products in Europe and internationally and the lack of refining capacity to supply that demand, manufacturing margins have remained high. The demand for gasoline has also been high, but it is declining as the U.S. driving season comes to an end. In order to refill low middle distillate inventories, independent U.S. refiners said early this year that they would keep operating at high rates even if gasoline consumption decreased. RBOB Gasoline Oct ‘22 Futures Price ChartSources: finance.yahoo.com, tradingeconomics.com
Market Trends and Currency Positioning: USD Net Short Position, Euro and Pound Analysis - 22.08.2023

US Dollar’s Unwavering Strength (EUR/USD), EUR/GBP, USD/JPY Falls To Lowest Level Seen Since 1998

Rebecca Duthie Rebecca Duthie 07.09.2022 16:25
Summary USD/JPY hitting lowest levels in 24 years. USD still strong. Expectations of the next interest rate hike from BoE fell. EUR/USD currency pair The market is reflecting bearish signals for this currency pair. Since the US Dollar continues to rise and shows little sign of slowing, it has been a wrecking ball for the foreign exchange markets. I would exercise caution in pursuing this upside, though, given that the most recent US CPI is right around the horizon. The inclination would be to downplay US dollar declines. The 0.99 handle serves as support for the euro, and although there has been a breach below it, there hasn't yet been a close below it. The language used, such as expressing a willingness to enter restrictive territory as opposed to merely front-loading policy to play catch-up, will be crucial in determining whether the Euro can find a floor, even though the ECB is preparing to raise interest rates by 75 basis points at its meeting tomorrow. EUR/USD Price Chart GBP declines The market is reflecting mixed signals for this currency pair. The Bank of England enters the scene and hits the already weak pound just as the market was concentrating on the new prime minister, Liz Truss. Following comments made by members of the Bank's Monetary Policy Committee (MPC), markets quickly reduced their expectations for a 75 basis point interest rate hike at next week's policy decision, causing a steep decline in the value of the pound. The panel's comments show that the Bank is still hesitant to hike interest rates in order to combat inflation and instead is betting that prices would decline as the economy weakens. EUR/GBP Price Chart USD continues to strengthen Today, the Japanese Yen's value against the US Dollar fell to its lowest level since 1998. In order to keep bond yields low, the Bank of Japan (BoJ) reaffirmed its yield curve control (YCC) program on Wednesday, despite the Fed's unambiguous indication that rates will rise. Today, the 10-year Japanese government bond (JGB) traded close to the 0.25% upper limit set by the central bank. The bank then declared that they would increase their bond buying as part of their planned operations. The 2-year note currently trades at 3.75%, with Treasury rates continuing to fly higher. Everywhere it has increased, the US dollar has. USD/JPY Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Bank of Canada (BoC) Interest Rate Policy Decision - Met Market Expectations

Bank of Canada (BoC) Interest Rate Policy Decision - Met Market Expectations

Rebecca Duthie Rebecca Duthie 07.09.2022 16:03
Summary: Bank of Canada interest rate decision. BoC met market expectations. Bank of Canada meets market expectations The Bank of Canada (BoC) met the market expectations on Wednesday by hiking their interest rates by 75bps up to 3.25% from 2.5%. Their Ivey PMI beat market expectations which were set at 48.3, but came in at an actual value of 60.9. Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tighteninghttps://t.co/YXW4npzhVA#economy #cdnecon — Bank of Canada (@bankofcanada) September 7, 2022 Bank of Canada In order to safeguard the economy by limiting the amount that interest rates might need to increase over the medium term, the BoC increased its cash rate from 1.75% to 2.5% in July. This was done as part of a strategy to move monetary policy to an economically restrictive level sooner rather than later. Despite the fact that interest rate derivative market pricing implies that investors already expect the benchmark to climb further and as far as 3.75% by year's end, the BoC considers that restrictive threshold to involve a cash rate that is a place above the 3% level. “The Bank's commitment to front-loading rate hikes in the face of red-hot inflation means an even bigger 100 bps increase (matching July's hike) can't be ruled out. Canadian employment (Friday) is expected to rise 5K in August following two consecutive monthly declines. The unemployment rate is expected to increase to 5.0%, which is still very low,” says Alvin Tan, head of Asia FX strategy at RBC Capital Markets. With the approaching Bank of Canada rate decision expected today and the European Central Bank meeting on Thursday, we will undoubtedly use expectations to our advantage. Expectations play a significant part in the market impact of major event risk. In this meeting, both are expected to raise their respective benchmark rates by 75 basis points, but the former is doing so based on a 100-basis-point increase at its last meeting and the discount of a hawkish central bank. Sources: dailyfx.com, poundsterlinglive.com, investing.com
The G20 And IMF Are Already Preparing Their Crypto Regulation

Altcoins: Chainlink (LINK) - What Is It? - A Deeper Look Into the Chainlink (LINK) Platform

Rebecca Duthie Rebecca Duthie 07.09.2022 15:52
Summary: What is The Chainlink Platform and how does it work? Uses of the Chainlink exchange. Chainlink’s present and future price positions. The Chainlink platform Chainlink, a blockchain abstraction layer that was established in 2017, enables globally interconnected smart contracts. Chainlink, a decentralized oracle network, enables blockchains to interact securely with external data feeds, events, and payment methods while providing the crucial off-chain information required by sophisticated smart contracts, which are quickly taking over as the primary type of digital contract. A sizable open-source community of data producers, node operators, smart contract developers, researchers, security auditors, and others powers the Chainlink Network. The firm is committed to ensuring that all node operators and users who want to contribute to the network are assured decentralized involvement. One of the first networks to support the inclusion of off-chain data in smart contracts is Chainlink. Chainlink is one of the top companies in the data processing industry and has a large network of reliable partners. Chainlink has garnered interest from many reputable data sources since it incorporates off-chain data, including Brave New Coin, Alpha Vantage, and Huobi. Data providers can make money off their information by selling Chainlink access to the data they have. Chainlink, a decentralized network, enables users to operate nodes and generate income from the vital data infrastructure necessary for the operation of blockchains. Chainlink powers a sizable number of decentralized Price Feed oracle networks that are already in operation and safeguard billions of dollars in value for top DeFi applications like Synthetix, Aave, Compound, and others. Chainlink now does much more than only collect and provide bitcoin pricing data to DeFi protocols like Aave. The ecosystem presently has access to over 1 billion data points and secures over $75 billion in value through integrations with 1,000 projects across 700 oracle networks. Chainlink has worked with well-known companies including AccuWeather, FedEx, FlightStats, and the Associated Press to verify data. The appointment of Eric Schmidt, the former chairman and CEO of Google, as a technical advisor to the Oracle Network Protocol is one of Chainlink's biggest victories, though. According to Schmidt, "Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society," and he is interested in helping Chainlink build a world powered by truth. Schmidt joins other well-known advisors to Chainlink, such as former CEO of LinkedIn Jeff Weiner and co-founder of DocuSign Tom Gonser. The ultimate rollout of staking allowing LINK holders to protect the network and earn rewards is scheduled for 2022 on the Chainlink roadmap. Oracle networks are a type of decentralized computing, not a blockchain, therefore while Chainlink has been working on a staking solution for years, they are not a blockchain. Co-founder Nazarov explained that Chainlink does not produce blocks but “make consensus on hundreds of oracle networks about price data.” He claims that the team is now prepared to introduce staking this year after finally being satisfied with the security and scalability of the consensus mechanism. Advantages of the Chainlink Platform Enables safe communication between off-chain data and smart contracts. Possibility of allowing smart contracts that resemble modern financial contracts. Financial compensation for securely supplying Chainlink with dependable data. Partnerships with major corporations like Google Cloud and SWIFT. Present and future prices of The Chainlink network (LINK) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Chainlink (LINK) does fall under this category. According to some analysts, the future price of The Chainlink network (LINK) could reach up to $35 by 2024 and could see a price of more than $50 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Chainlink Price Chart Sources: finance.yahoo.com, coinmarketcap.com, cryptovantage.com, cryptonewsz.com  
Commodities: EU Members Manage To Agree On Price Caps For Russian Oil

WTI Crude Futures Trading Close To January Lows, Potential For Favourable Weather Driving Coffee Futures Down, Palladium Futures

Rebecca Duthie Rebecca Duthie 07.09.2022 15:19
Summary: WTI crude futures fell amidst concerns around weak demand. Potential rain in Brazil driving coffee futures down. Strong US dollar. WTI Crude Oil trading close to January lows WTI crude futures were trading close to January's lows around $87 per barrel on Wednesday due to ongoing worries about slowing global growth and therefore weak demand. Weak customs statistics from the world's largest importer, China, and new coronavirus-related limitations in a number of cities raised the possibility of significant economic harm and decreased gasoline usage. In addition, lingering worries about global economy and the prospect of protracted tighter financial conditions continued to depress mood. With Saudi Arabia foreshadowing more action, OPEC+ surprisingly agreed to cut supply by 100,000 barrels per day beginning in October, providing a floor under prices. WTI Crude Oil Futures Price Chart Coffee Futures fell amidst favourable weather potential As the attention remained on the weather in top producer Brazil, Arabica coffee futures on the ICE were trading down marginally from an almost six-month high hit on August 25. The setback has been exacerbated by the likelihood of rain in some regions of Brazil's coffee-growing regions over the upcoming few weeks, but dealers said there are still questions about whether there will be enough moisture to support development of coffee buds and cherries after some early flowering. As of August 31st, 672,585 bags of ICE-certified arabica were in stock, up from a 23-year low of 571,580 bags on August 15th, according to the most recent data. Coffee Dec ‘22 Futures Price Chart Shortage of Palladium remains The strongest US dollar in nearly seven weeks, rising interest rates, and slowing GDP all contributed to the decline in palladium futures prices, which dropped below $1,780 per ounce. It is anticipated that central banks would keep raising interest rates to keep inflation from soaring even when the economy is slowing. Furthermore, despite the price increase and supply chain disruptions, demand for palladium, which is used in auto catalysts for gasoline-powered vehicles, has not yet returned to its pre-pandemic levels. Even so, there is still a shortage on the palladium market. Palladium Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Oil Prices Soar on Prospect of Soft Landing, Eyes Set on $80 Breakout

Stock Market Volatility Drives Nasdaq Downwards, Reserve Bank of Australia’s Interest Rate Decision

Rebecca Duthie Rebecca Duthie 07.09.2022 00:04
Summary: Nasdaq fell more than 0.7% on Tuesday. RBA interest rate decision. Nasdaq down 0.74% on Tuesday In a volatile post-Labor Day session on Tuesday, U.S. stocks fell as investors remained on edge in anticipation of the Federal Reserve's upcoming policy decision later in the month. The declines on Tuesday were led by the tech-heavy Nasdaq Composite, which fell 0.7%. The movements follow three weeks in a row in which the major averages have lost money. Following the release of new data showing that U.S. services activity accelerated in August, losses throughout the equity market continued. This gave investors reason to believe that Fed officials could go with a larger rate rise of 75 basis points on September 21. IXIC Price Chart Reserve Bank of Australia’s interest rate decision The Reserve Bank of Australia (RBA), which raised interest rates by another 50 basis points on Tuesday, together with indications that the central bank is reaching the conclusion of its tightening cycle, left the Australian Dollar floundering. By raising rates by 50 basis points, the RBA satisfied market expectations and promised additional rate increases in its outlook. However, the RBA acknowledged "higher inflation and higher interest rates are putting pressure on household budgets, with the full effects of higher interest rates yet to be felt in mortgage payments". This is a sign from the Bank that it thinks the time has come to scale back on raising interest rates because the full impact of recent moves has not yet been felt. Sources: fxmag.com, poundsterlinglive.com, finance.yahoo.com
EUR/USD Dropped To New Multi-year Lows, Truss Delivers A Convincing Package To Beat The Cost Of Living Crisis (EUR/GBP), RBA Interest Rate Decision (GBP/AUD)

EUR/USD Dropped To New Multi-year Lows, Truss Delivers A Convincing Package To Beat The Cost Of Living Crisis (EUR/GBP), RBA Interest Rate Decision (GBP/AUD)

Rebecca Duthie Rebecca Duthie 06.09.2022 22:12
Summary: U.S. economy is doing well despite tighter monetary policy. Truss - The new UK prime minister as of Tuesday. RBA interest rate decision. EUR/USD hits multi-year lows on Tuesday The market is reflecting mixed signals for this currency pair. On Tuesday due to negative sentiment, the EUR/USD dropped to new multi-year lows, briefly touching 0.9865 in choppy trading after U.S. markets resumed trading after the Labor Day holiday on Monday. Even while the euro was able to somewhat recoup some of its losses during the day, broad U.S. dollar rise in the early afternoon hampered the currency's sentiment. As a result of a rise in U.S. Treasury rates, which drove both short-term and particularly long-dated yields considerably higher, DXY rose as much as 0.85% at one point. Bond prices rose in part as a result of better-than-expected statistics from the U.S. services sector. The non-manufacturing PMI for August rose to 56.9 versus 55.1 predicted, according to the Institute for Supply Management, which indicates that the economy is still very robust. The fact that the U.S. economy is doing well despite tighter monetary policy suggests that the central bank will likely move forward with its plans to raise interest rates a few more times in the upcoming months, keeping them there for longer than initially anticipated to reduce inflation, which would be bullish for the dollar. However, for the time being, a dovish pivot will not materialize. EUR/USD Price Chart GBP supported by Truss’ policies The market is reflecting mixed signals for this currency pair. The British pound has had a terrible year, but if the incoming prime minister can present a convincing package of policies to address the cost of living crisis, the pound may recover in the remaining months of the year. According to a number of media publications, Truss, who became prime minister on Tuesday, may implement a plan to cap energy costs at £130 billion. She's also expected to make a major tax cut announcement as part of one of her major campaign promises. According to sources, the UK's incoming Prime Minister is thinking about freezing energy prices for millions of homes this winter, a move that may reduce the country's inflation rates by as much as four percentage points. According to Capital Economics, an independent research firm, core inflation would nevertheless continue to be stubbornly high and attract additional Bank of England interest rate increases. EUR/GBP Price Chart RBA decided on 50bps interest rate hike The Reserve Bank of Australia (RBA), which raised interest rates by another 50 basis points, together with indications that the central bank is reaching the conclusion of its tightening cycle, left the Australian Dollar floundering. By raising rates by 50 basis points, the RBA satisfied market expectations and promised additional rate increases in its outlook. Sterling pounds According to Live's RBA preview, the currency would be more affected by the direction of future raises than by a 50 basis point increase, which would provide little support to the Australian dollar. We warned that the Australian dollar might suffer from a "dovish" hike, in which the Bank sought to curb expectations for additional assertive action. The RBA brings Australia's basic lending rate into a range of 2-3% that it views as the "neutral" position by raising the Cash Rate to 2.35%. As a result, it holds that interest rates are neither restrictive nor stimulatory, which lends support to the idea that the RBA may start to contemplate easing back. GBP/AUD Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Altcoins: Smooth Love Potion (SLP) - What Is It? - A Deeper Look Into the Smooth Love Potion (SLP) Platform

Altcoins: Smooth Love Potion (SLP) - What Is It? - A Deeper Look Into the Smooth Love Potion (SLP) Platform

Rebecca Duthie Rebecca Duthie 06.09.2022 10:49
Summary: What is The Smooth Love Potion Platform and how does it work? Uses of the Smooth Love Potionexchange. Smooth Love Potion’s present and future price positions. The Smooth Love Potion Platform By taking part in the Axie Infinity game, players can acquire Smooth Love Potion (SLP) tokens. Experience points are replaced by this digital asset. SLP are ERC-20 tokens that may be used to create new Axies, or virtual pets. Beginning at 100 SLP, the cost of breeding rises steadily to 200 SLP for the second breed, 300 SLP for the third, 500 SLP for the fourth, 800 SLP for the fifth, and 1,300 SLP for the sixth. The seventh breed of Axies costs 2,100 SLP and can only be produced a maximum of seven times. This cap is in place to guard against market hyperinflation. Gaining SLP in the game can take some time, and a player could need to triumph in 15 competitions to amass enough tokens to perform their first breed. Gamers can get a jump start by buying SLP on the open market. It's not very common for in-game money to be available on exchanges like SLP. It resembles Nintendo's decision to assign a monetary value to the coins utilized in Super Mario in certain ways. Axies, according to Nguyen (Founder of Axie Infinity), differ from other non-fungible tokens because they require nurturing if they are to have any chance of maturing. SLP is particularly distinctive in that it is one of the select few in-game tokens that Binance has listed in its Innovation Zone. For assets "that are anticipated to have higher volatility and offer a larger risk than other tokens," the exchange has set aside this trading category. The current market capitalisation for the Smooth Love Potion (SLP) is $171,357,209. There is a total supply of 43,313,391,582 tokens, all of which are currently in circulation. Uses of Smooth Love Potion (SLP) Axies trading and purchases. Axies, the adorable little creatures that you may gather and teach in Axie Infinity, are the main use case for SLP. Each Axie has distinct characteristics and abilities that make it valuable for both playing and collecting games. Both ETH and SLP can be used to purchase Axies, albeit SLP is frequently far more expensive. Minting. The Mystic class of Axies and other new Axie game goods are manufactured using SLP. A fraction of the overall supply of SLP is burned each time a new item is created, lowering the supply and raising the value of each token that is still in circulation. Trading on independent markets. On decentralized exchanges, you can trade SLP in addition to buying and selling Axies (DEXes). This enables you to make predictions about the token's price changes without needing to use a centralized exchange. SLP is compatible with all significant DEXes, including Uniswap, Kyber Network, and 0x Protocol, as an ERC20 token. Salary and tips. The usage of SLP for payments and tips is another example. The token can be used to tip someone for their labor or to pay for products and services. You could utilize ETH or any other cryptocurrency in a manner similar to this. But in the long run, SLP might be more valuable than other cryptocurrencies because of its limited supply. If you want to maintain your worth, this makes it a suitable option for payments and tips. Present and future prices of The Immutable X network (IMX) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Smooth Love Potion (SLP) does fall under this category. According to some analysts, the future price of The Smooth Love Potion network (SLP) could reach up to $0.0092 by 2025 and could see a price of more than $0.023 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. SLP Price Chart Sources: finance.yahoo.com, coinmarketcap.com, coinspeaker.com, capitalcoin.com
Natural Gas Prices Extended The Recovery

Russia Suspends Flow Through The Nord Stream 1 Pipeline, Cotton Futures, Gold Prices Increase For The First Time In 3-weeks

Rebecca Duthie Rebecca Duthie 06.09.2022 09:29
Summary: NGAS futures rise in the wake of suspension of Nord Stream 1 pipeline. A stagnant dollar and safe-haven buying prompted by economic uncertainty boosted bullion demand. NGAS futures increasing The second week of September saw a small increase in US natural gas futures, recovering from the 6% drop the previous week to keep pace with the rise in the European benchmark following the indefinite suspension of Russian gas exports through the Nord Stream 1 pipeline. The action reversed the prior declaration by Russian supplier Gazprom that flows will start up again on Saturday after a maintenance outage, adding to worries over Europe's energy shortage before the winter. Meanwhile, a string of heatwaves that have hit the US this summer have increased demand for gas-fired power facilities. Freeport LNG announced that the launch of its Quintana export project would be postponed until November. NGAS Oct ‘22 Futures Price Chart Cotton Futures Trading on a contract for difference (CFD) that monitors the benchmark market for this commodity shows that cotton has dropped 3.01 USd/Lbs, or 2.67%, since the start of 2022. Cotton Dec ‘22 Futures Price Chart Gold futures rising After falling for the previous three weeks, gold prices increased above $1,710 an ounce on Tuesday as a stagnant dollar and safe-haven buying prompted by economic uncertainty boosted bullion demand. As traders took some profits and anticipated this week's speeches by Federal Reserve officials and policy announcements from other significant central banks, the dollar's unrelenting rally came to a halt. Following the announcement that gas shipments via the crucial Nord Stream 1 pipeline will not resume, a worsening energy crisis in Europe also rekindled recessionary fears, prompting investors to seek for safer assets. As the Federal Reserve is anticipated to continue with aggressive interest rate hikes to combat excessive inflation, gold is likely to remain under pressure. On Tuesday, the Reserve Bank of Australia also announced its fourth consecutive 50 basis point rate increase, and later this week, the European and Canadian central banks are expected to do the same. Gold Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Further Downside Of The AUD/JPY Cross Pair Is Expected

RBA Interest Rate Decision - The Fight Against Rising Inflation Continues

Rebecca Duthie Rebecca Duthie 06.09.2022 09:08
Summary: RBA monetary policy decision. RBA meets market expectations. The RBA Hikes Interest Rates By 50bps - Meeting market expectations The Reserve Bank of Australia (RBA), which raised interest rates by another 50 basis points, together with indications that the central bank is reaching the conclusion of its tightening cycle, left the Australian Dollar floundering. By raising rates by 50 basis points, the RBA satisfied market expectations and promised additional rate increases in its outlook. However, the RBA acknowledged "higher inflation and higher interest rates are putting pressure on household budgets, with the full effects of higher interest rates yet to be felt in mortgage payments". This is a sign from the Bank that it thinks the time has come to scale back on raising interest rates because the full impact of recent moves has not yet been felt. At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 2.35 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 2.25 per cent - https://t.co/7SpNu8FKJQ — RBA (@RBAInfo) September 6, 2022 RBA Hikes Interest Rates The Reserve Bank of Australia's upcoming interest rate hike may provide some short-term comfort for the Australian dollar. Investors expect the RBA to raise interest rates by another 50 basis points, but the Australian dollar may fluctuate depending on the bank's future direction. The RBA’s decision to raise interest rates by 50 basis points in its battle against growing inflation; according to the most recent data, prices are rising at a 6.1% annual rate. However, a 50bp is "in the price" of Australian currency rates, thus market volatility will most likely depend on the direction the RBA directs investors to take in terms of future policy decisions. Australia's economy is weakening; according to August PMI data, a fall in services sector activity caused the composite index to enter contractionary territory. "Beyond this month the outlook looks far bumpier. The RBA could therefore be driven to signal a smaller pace of hikes from next month, as a weaker economic backdrop accelerates, delivering what we might describe as a dovish hike," says a daily currency update from Moneycorp. "Given that 50bps is all but priced into markets, the Aussie is likely to be driven on the day by the commentary from the RBA, with the Aussie likely being boosted most by bullish calls, and hindered if the RBA adopts a dovish tone," adds the note. The Australian Dollar is the third-best performing major currency in 2022. Thanks to Australia's substantial trade surplus, which implies that its currency is supported by robust export revenues, the Australian Dollar is the third-best performing major currency in 2022. Sources: poundsterlinglive.com, investing.com
The Complex Factors Influencing Gold Prices in 2023: From Interest Rates to China's Impact

Euro To US Dollar Index Falls - Touching Levels Not Seen In 20 Years

Rebecca Duthie Rebecca Duthie 06.09.2022 00:01
Summary: Thursday's European Central Bank (ECB) meeting during this crucial week for the euro. Russia cuts off Nord Stream gas supply. A crucial week for the Euro. But is still at risk as energy issues become more apparent. Euro Index suffers in the wake of Russia Turning off the gas taps Monday saw a new 20-year low for the euro as concerns about a worsening energy crisis in the area increased as Russia cut off gas supplies to Europe through its main pipeline. In recent months, there has been an increase in the correlation between the euro and natural gas prices, with the latter declining as energy prices rise. Before the chilly winter months, Europe is frantically trying to wean itself off Russian supply and build up reserves, but many predict a significant economic damage. Invoking an oil leak in a turbine, Russia postponed a Saturday deadline for the Nord Stream pipeline to begin carrying oil. It happened at the same time that the Group of Seven finance ministers announced a limit on Russian oil prices. Early in European trading, the euro fell to $0.9876, its lowest level since 2002, before bouncing back to $0.9939, but down 0.2% on the day. "Gas flows have been curtailed even more than expected and we have already seen evidence of demand destruction weighing on activity," said Michael Cahill, a strategist at Goldman Sachs. "We now expect the Euro to fall further below parity ($0.97) and remain around that level for the next six months," he added. Investors are gearing up for Thursday's European Central Bank (ECB) meeting during this crucial week for the euro, as markets have priced in a nearly 80% possibility of a massive 75 basis point (bp) interest rate hike. The stabilization of the euro, which has lost over 8% of its value over the last three months, will be welcomed by ECB policymakers. That will fuel the desire to tighten policy in an effort to control inflation. EUR/USD Price Chart Sources: finance.yahoo.com, reuters.com
ECB Expected To Raise Interest Rates (EUR/USD), Liz Truss Selected For UK Prime Minister (EUR/GBP, GBP/AUD)

ECB Expected To Raise Interest Rates (EUR/USD), Liz Truss Selected For UK Prime Minister (EUR/GBP, GBP/AUD)

Rebecca Duthie Rebecca Duthie 05.09.2022 19:05
Summary:RBA interest rate announcement due tomorrow.Nord Stream pipeline 1 temporarily shutdown.Liz Truss selected for prime minister.Euro weighed down by temporary close of Nord Stream PipelineThe market is reflecting bearish signals for this currency pair. The Euro to Dollar exchange rate performed reasonably well last week, but it may find it difficult to avoid underperforming this time due to dangers to Europe's energy supply and economies as well as further headwinds from recent coronavirus restrictions in China. The euro appreciated significantly last week as the European Central Bank (ECB) interest rates are expected to rise to a record high on Thursday as a result of a new high for inflation and as European Commission officials announced they would look into ways to lower the cost of energy. But after Russian company Gazprom said that the Nord Stream pipeline would be down permanently, natural gas would no longer be transmitted to Germany, the euro came under pressure ahead of the weekend and experienced some additional, though brief losses early on Monday. EUR/USD Price ChartLiz Truss - new UK prime ministerThe market is reflecting mixed signals for this currency pair. With 57% of the party vote, Liz Truss has been chosen as the next prime minister of the United Kingdom, becoming the third in six years. Now that the UK will be out of this fiscal policy vacuum, this will provide some positive news for the pound. Recently, UK government bonds and the GBP have aggressively sold off (perhaps in part due to the political risk premium being priced in); this is comparable to how an EM currency would trade.In other places, Liz Truss has also made clear her position on the Bank of England, reiterating the value of their independence while dialing back some of her stern language regarding BoE changes. As a result, the period of GBP underperformance might have reached its pinnacle at this point given that fiscal policy measures are just around the corner. As a result, even though GBP sentiment is at an all-time low, there may be a case for a slight mean reversion in GBP crosses, especially against the Euro as compared to the USD since it is challenging to place bets against the dollar. EUR/GBP Price ChartRBA interest rate decisionThe GBP/AUD currency rate has been under pressure for the majority of 2022, but it may soon see some relief as a result of another Reserve Bank of Australia interest rate increase. Investors expect the RBA to raise interest rates by another 50 basis points, but the Australian dollar may fluctuate depending on the bank's future direction. The RBA has decided to raise interest rates by 50 basis points as it battles growing inflation; according to the most recent data, prices are rising at a 6.1% annual rate. However, a 50bp is "in the price" of Australian currency rates, thus market volatility will most likely depend on the direction the RBA directs investors to take in terms of future policy decisions. GBP/AUD Price ChartSources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com
Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?

Altcoins: Immutable X (IMX) - What Is It? - A Deeper Look Into the Immutable X (IMX) Platform

Rebecca Duthie Rebecca Duthie 05.09.2022 18:10
Summary: What is The Immutable X Platform and how does it work? Advantages of the Immutable X exchange. Immutable X’s present and future price positions. The Immutable X Platform As the first layer-two scaling option for NFTs on Ethereum, Immutable X places itself in this space. Immutable X claims that its blockchain overcomes Ethereum's drawbacks, including its low scalability, subpar user experience, lack of liquidity, and delayed development experience. Instead, users get to experience $0 gas costs for minting and trading NFTs, instant trading, and vast scalability without compromising asset or user security. Immutable X uses STARK zk-rollups, a technology that Vitalik Buterin believes Ethereum is "all-in" on, to do that. Users will be able to produce and distribute assets like ERC-20 and ERC-721 tokens on a vast scale as a result of this technology. Immutable X enables Gods Unchained to deploy a novel meta-system that was previously impractical, according to Chris Clay, the game director of the project that is currently based on it. In this way, Immutable X hopes to give users and developers alike a top-notch experience. One advantage of Immutable X is that it is one of the first layer-two systems to use zk-rollups and to concentrate just on NFTs. The project is at the forefront of advancement in the Ethereum ecosystem as zk-rollups gain popularity as a scaling option. If Immutable X can accomplish its proje