Sun, May 19, 2024

News

Oil prices

Oil Prices Rise by 0.4% on Hopes of Increased Demand

Quick Look: China’s industrial output increased by 6.7% in April, signalling stronger future demand for oil. Stabilization efforts by the government are expected to boost economic growth and oil prices. Ukrainian drone attack on a Russian oil refinery led to market volatility.  Falling oil and refined product inventories have supported prices. Lower-than-expected US consumer price …

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China Less Inclined To Support The US in Ukraine War

China’s April Economic Update: Mixed Sector Growth

Quick Look: Retail sales grew by 2.3% in April, below the forecast of 3.8%. The holiday period saw a 6.8% increase, driven by home appliances and automobiles. Surged by 6.7% year-on-year, surpassing the expected 5.5%, showing manufacturing sector resilience. Retail sales in China grew by 2.3% year-on-year in April, falling short of the forecasted 3.8% …

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Stocks and important factors

Meme Stocks Soar: GameStop Up 126%, AMC 88%

Quick Look: GameStop rose 126%, causing $1.8B in short-seller losses; AMC increased 88%, with $157M losses for short sellers. Investors’ fear of missing out, spurred by influencers like Roaring Kitty, drove the rally. Keith Gill’s return to social media significantly boosted meme stock interest and prices. Despite losses, short sellers increased positions in GameStop and …

Meme Stocks Soar: GameStop Up 126%, AMC 88% Read More »

Cryptocurrencies, bittorrent

Senate Votes 60-38 to Repeal SEC’s Crypto Policy

Quick Look: The Senate voted 60-38 to repeal SEC’s SAB 121, following a House vote of 228-182. President Biden plans to veto, citing investor protection and financial stability concerns. Repeal supported by 12 Democrats and 48 Republicans in the Senate, showing a significant partisan split. The U.S. Senate has voted to repeal the Securities and …

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GBP/USD: British pound sterling coins. Bank of England (BoE)

GBP/USD Climbs 3.25%, Nears Critical Resistance at 1.2731

Quick Look: Surge: GBP rose 3.25% from its yearly low, nearing critical resistance. Key Resistance: 1.2731 (yearly open), 1.2773-1.2781 (Feb 2019 low), 1.2857 (yearly high-day close). Support Levels: 1.2575 (March low), 1.2535-1.2540 (200-day MA), 1.2423 (Dec 2022 high-day close). Events: Upcoming UK CPI and retail sales are pivotal for market sentiment. The British Pound has …

GBP/USD Climbs 3.25%, Nears Critical Resistance at 1.2731 Read More »

CCL Argo Blockchain

Monday.com Shares Jump 23.8% After Strong Quarterly Results

Quick Look: Monday.com’s stock surged 23.8% after impressive quarterly results, raising annual guidance. Analysts raised price targets, with a new average consensus at $242.67. Significant institutional investments underline confidence in the company’s growth potential. Monday.com Ltd. (NASDAQ:MNDY), a leading provider of project management tools, has witnessed a dramatic 23.8% increase in its stock price following …

Monday.com Shares Jump 23.8% After Strong Quarterly Results Read More »

gold

Gold Nears $2,400 as Economic Indicators Signal Upturn

Quick Look: Gold shows a modest uptick: Current spot price of $2,391.78/oz, hinting at continued bullish sentiment. Silver and platinum vary: Silver dips to $29.56/oz, while platinum rises to $1,068.67/oz. Economic indicators: Weakening US Dollar and low Treasury Yield influencing metal prices. In today’s trading session, gold prices have shown a modest uptick. Besides, the …

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Turkey leads gold purchases of Q2 by 85%

Turkey Halts $7 Billion Trade with Israel Amid Gaza Crisis

Quick Look: Turkey suspends all trade with Israel, pressuring for aid flow into Gaza.  Israel seeks alternative trade routes and criticises Turkey’s leadership, affecting bilateral relations and global commerce. The dire humanitarian situation in Gaza, with 1.1 million people facing catastrophic hunger, international efforts to improve aid delivery. The sharp increase in hostile rhetoric between …

Turkey Halts $7 Billion Trade with Israel Amid Gaza Crisis Read More »

NZD/USD - NZD USD digital trading chart.

NZD/USD Hits 0.6120: Fluctuations Amid Economic Updates

Quick Look: NZD/USD Trade Levels: Recent trading at 0.6120 with fluctuations between 0.6140 and 0.6070. Economic Data Influence: US inflation at 3.4%, retail sales stagnant; impact of upcoming RBNZ rate decision. Market Predictions: Bullish trend with potential resistance at 0.6180 and support at 0.6080. The New Zealand Dollar (NZD) has recently experienced notable fluctuations against …

NZD/USD Hits 0.6120: Fluctuations Amid Economic Updates Read More »

Wibest – Japan Yen: Japanese yen bills. USD/JPY

USD/JPY Slips 0.91% as US Core CPI Falls to 3.6%, a 3-Year Low

Quick Look: Significant Decline: USD/JPY fell 0.91%, influenced by a disappointing US Core CPI report. Key Support Levels: Immediate focus on 155.00; breaches may indicate further USD weakness. Trading Strategy: Watch for a daily close below or above 155.00 to signal bearish or bullish positions. The US dollar experienced a significant pullback against the Japanese …

USD/JPY Slips 0.91% as US Core CPI Falls to 3.6%, a 3-Year Low Read More »

Cocoa, cocoa bean

Cacao Bean Prices Surge: NY Up 2.61%, London Climbs 3.73%

Quick Look: Cacao bean prices in New York and London witnessed significant increases, with NY’s CCN24 up by 2.61% and London’s CAN24 by 3.73%. Ivory Coast and Ghana producers report severe production drops, with forecasts hitting multi-year lows due to bean shortages. Ivory Coast and Ghana boosted farm-gate prices by 50% and 58%, respectively, to …

Cacao Bean Prices Surge: NY Up 2.61%, London Climbs 3.73% Read More »

Boeing commercial airplanes are under pressure from the competitor

Boeing Starliner’s Launch: Delays Due to Helium Leak

Quick Look: Boeing’s recent launch was postponed due to a helium leak in the propulsion system; repairs were completed to ensure reliability. NASA demonstrates flexibility, not rushing the launch and allowing ample time for problem resolution. SpaceX is ahead with multiple successful crew rotations; Boeing aims to catch up with ISS missions. The aerospace community …

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Wibest – Canadian Loonie: Canadian dollar (CAD) bills and coins.

USD/CAD Hits 1.3640 Amid PPI Surge and Rising Oil Prices

Quick Look: USD/CAD’s recent drop to 1.3640 was influenced by a weaker US dollar and PPI data exceeding expectations. The Bank of Canada’s aggressive monetary policy includes a potential 100 basis point cut in 2025. Wildfires near Canadian oil sands push WTI crude to $78.30, impacting commodity-linked CAD. The USD/CAD exchange rate has shown fluctuations …

USD/CAD Hits 1.3640 Amid PPI Surge and Rising Oil Prices Read More »

Wibest – CHF Franc: New Swiss franc notes.

USD/CHF Drops to 0.9060 Amid Dismissed April PPI of 0.5%

Quick Look: USD faces losses against CHF, influenced by lower US yields and dismissive response to PPI data. Switzerland’s economic indicators show mixed results; slight improvement in Producer and Import Prices. US CPI report and Swiss Industrial Production data could impact future USD/CHF movements. The US dollar (USD) has faced successive losses against the Swiss …

USD/CHF Drops to 0.9060 Amid Dismissed April PPI of 0.5% Read More »