Sun, July 21, 2024

Asian countries

Stocks in Asia, china

China’s Economic Goals: Tackling 2024’s Complexities

Quick Look: China aims to modernize industry, expand demand, stimulate growth, curb debt risks, and acknowledge inherent contradictions. The plenum outlined ambitions without detailing resolutions for conflicting goals like boosting consumer spending amidst producer-focused resource allocation. China faces weak domestic demand, deflation risks, property downturn, debt crisis, and higher tariffs, with slow growth in Q2. …

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Новая валютная стратегия Японии: интервенционный сдвиг на $60 млрд

Japan’s New Currency Strategy: $60 Billion Intervention Shift

Quick Look: Atsushi Mimura replaces Masato Kanda as Japan’s top currency diplomat, shifting the strategy from heavy intervention to adaptive approaches. Mimura leverages favourable US economic data and market momentum, aligning interventions with prevailing trends. Public strategy knowledge may attract dip buyers, increasing risks for USD/JPY long positions during key US data releases. In a …

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Валютные рынки растут: Иена по 161,94, евро по 1,0761

Currency Markets Surge: Yen at 161.94, Euro at 1.0761

 Quick Look: Currency’s Historic Drop: On July 2, 2023, the yen hit lows of 161.94 against the US dollar and 173.80 against the euro, driven by expectations of a dovish stance from Japan’s central bank. US Dollar Fluctuations: Dovish comments from Fed Chair Powell caused the dollar index to slip to 105.61 despite solid domestic …

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Navigating Wiolin.com's Tech-Driven Trading Haven - day trading

Enovix Aims for Growth with $36 Stock Target and VR Boost

Quick Look: Enovix is rated “Outperform” with a $36.00 price target. VR customer validates tech with prepaid tooling, boosting strategic value. A versatile manufacturing process meets rising edge device and AI battery demand. Cost reduction aims to save $35M annually, extending operations into 2026. Enovix Corporation, trading under the ticker NASDAQ, has recently garnered positive …

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Cocoa, cocoa bean

Cocoa Futures Drop 11.2% in NY, 8.19% in London

Quick Look: Cocoa Price Drop: NY cocoa dropped by 11.20% and London cocoa by 8.19%, hitting new lows. Higher Yields: Favorable weather in major cocoa-producing regions boosted production, affecting market supply. Consumer Cutbacks: Rising chocolate prices lead consumers to buy less, reducing demand and impacting prices. Production Forecasts: Ghana’s 2024/25 cocoa production forecast increased, while …

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

USD/JPY at 159.70 Amid Key Economic Shifts

Quick Look: Exchange Rate Levels: USD/JPY stands at 159.70, with key resistance at 160.32 and support at 158.42 and 155.60. Japanese Economic Policy: BOJ ends negative interest rate policy; possible intervention if the rate hits 160.00. US Economic Indicators: Robust PMI readings; Composite PMI hits 54.6, the highest since April 2022. The USD/JPY exchange rate …

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BOJ Bank of Japan title

USD/JPY Rises to 157.50 Amid BoJ Diverging Policies

Quick Look: USD/JPY reached 157.50 due to the US Federal Reserve’s hawkish stance. The US maintains high rates (5.25%-5.5%), while BoJ keeps rates at 0%. Possible rate cut in 2024; cautious approach until inflation goals are met. Potential reduction in bond purchases and rate hikes to address yen weakness. The USD/JPY pair has maintained a …

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Chinese Yuan and dollar

Yuan Strengthens: Onshore and Offshore Rates Up

Quick Look: Onshore Dollar to Yuan closed at 7.2537, up 4 basis points; offshore USD/CNH at 7.2684, up 20 basis points. USD/CNY closed at 7.2545 previously, showing minor market volatility and cautious optimism. PBOC injected 2 billion yuan through seven-day reverse repos, maintaining a 1.8% interest rate. Mixed economic indicators with weak consumer spending and …

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broker

First Solar Stock Hits High of $289, Market Cap at $31.53B

Quick Look: First Solar specialises in photovoltaic (PV) solar modules using thin-film semiconductor tech, serving global markets. The stock recently closed at $281.05, with a market cap of $31.53 billion and a PE ratio 30.84. Boasts a current ratio of 2.41, a quick ratio of 1.86, and a low debt-to-equity ratio of 0.06. Recent EPS …

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amazon

Amazon to Invest Billions in Taiwan’s AWS Infrastructure

Quick Look: Amazon plans to invest billions over 15 years to establish advanced AWS data centres in Taiwan. Scheduled to be operational by early 2025, this region will include cutting-edge technologies to serve Asia’s cloud service demands. AWS is also investing in Singapore, Japan, Malaysia, Thailand, and Indonesia, reinforcing its presence globally. Amazon.com Inc. (AMZN) …

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Ripple and authorities

Ripple Launches $1 Billion Fund for Japan and Korea

Quick Look: Ripple introduces the Japan and Korea Fund, channelling one billion XRP to boost blockchain innovation in Japan and South Korea. Ripple intensifies efforts in the Asia-Pacific region, aiming to increase cryptocurrency payment adoption. Partnerships with HashKey DX and SBI Holdings target supply chain finance and broader adoption of Ripple’s solutions in Japan. Ripple, …

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Japanese Yen fell against the U.S. dollar on Thursday

Flight-to-Safety Drives Yen Up, USD/JPY Down 0.31%

Quick Look: USD/JPY exchange rate closed at 110.933, down 0.31% due to geopolitical tensions and BOJ policy speculation. The Yen appreciated as investors sought safety amidst global uncertainties, notably the crisis in Turkey. Japan’s June household income rose by 4.4%, spending fell by 1.2%, and real wages grew by 2.8%.  Internal BOJ discussions on yield …

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FTX, robinhood, zksync

Robinhood’s $200M Acquisition of Bitstamp for Global Expansion

Quick Look: Robinhood acquires Bitstamp for $200 million in an all-cash deal, closing in H1 2025 pending approval. The acquisition aligns with Robinhood’s international expansion and diversification into institutional business. Bitcoin surged over 60% in 2024; Robinhood’s crypto revenue tripled in Q1 2024 despite regulatory challenges. Robinhood has announced the acquisition of Bitstamp for $200 …

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Wibest – Yen: Japanese yen bills and coins (USD/JPY)

USD/JPY Poised to Rebound at 154.90 Support

Quick Look: USD/JPY shows potential to rebound around the 50-day SMA at 154.90, supported by differing Fed and BoJ policies. Significant levels include 154.90 (50-day SMA), 157.48 (weekly high), and 151.87 (May low). Fibonacci extensions are crucial markers. Japanese currency interventions and positive US economic indicators like ISM Services PMI and NFP data impact the …

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Australian and New Zealand dollars fell. What about Euro

NZD/USD at 0.6175 Amid Fed Rate Cut Expectations

Quick Look: Current Trade Level: NZD/USD trading at 0.6175 in the early Asian session, reflecting global economic influences. Fed Rate Expectations: Anticipation of Fed rate cuts in September weakens USD, supporting NZD. US Dollar Index: Stays near 104.00 due to potential Fed rate cut; key US economic data awaited. Recent US Economic Data: April JOLTs …

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