The dollar index rose above the 104-point level on Monday, reaching a new 20-year high, as expectations for further monetary tightening by the Federal Reserve to fight inflation may continue to rise.
One market measure of U.S. interest rate expectations, the yield on the 10-year Treasury note, rose to 3.15 percent today, while market expectations based on the federal funds rate futures seem to point to the possibility of a peak in the hike cycle at 3.5-3.75 percent. Thus, the market…
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Added by FXMAG on May 9, 2022 at 8:21am —
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China concerns boost the US dollar
The US dollar booked some modest gains post-Non-Farm Payrolls on Friday, but the dollar index resistance zone at 104.00 held once again. The dollar index finished 0.11% higher at 103.66 having traded in a wide range intra-day. The risk aversion China slowdown price action seen in equities has spilt into currency markets today, lifting the US dollar after US 10-year yields closed comfortably above 3.0% on Friday. The dollar index has risen 0.34% to…
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Added by FXMAG on May 9, 2022 at 8:20am —
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Polish contractors have made a promising start in 2022. However, the Ukraine war, higher interest rates, soaring building material prices and labour and material shortages are putting pressure on production levels. Yet, we think there will be marginal room for construction output growth this year and next
In this article
Polish construction sector made a promising start in 2022
Poland: sixth largest construction sector in Europe
Still well-filled order books
A…
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Added by FXMAG on May 9, 2022 at 8:20am —
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Po piątkowej konferencji prezesa Glapińskiego rynek z nawiązką odrobił czwartkowy spadek dochodowości w segmencie powyżej 2Y, reagując w ten sposób na sugestię prezesa Glapińskiego, że pod koniec 2023 mogłyby zacząć się redukcje stóp.
Krzywa SPW obniżyła się na krótkim końcu (2Y) o 4 pb. do 6,66% i podniosła się o 21 pb. na środku (5Y) oraz o 26 pb. na długim końcu (10Y) do odpowiednio 7,25% i 6,84%, przywracając dodatnie nachylenie krzywej po raz pierwszy od marca. Równie…
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Added by FXMAG on May 9, 2022 at 8:20am —
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Aktualny kurs funta GBP do polskiego złotego PLN to 5.4956 złotych. Narodowy Bank Polski przed momentem opublikował aktualną tabelę A! Zobaczcie jak wyglądają kursy walut znajdujące się w tej tabeli. Są to m.in. kursy średnie nowego izraelskiego szekla, korony islandzkiej, funta szterlinga,korony czeskiej,euro,korony szwedzkiej, peso meksykańskiego i ringgita malezyjskiego .…
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Added by FXMAG on May 9, 2022 at 8:19am —
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3 maja przewodniczący CDU Friedrich Merz spotkał się w Kijowie z prezydentem Ukrainy Wołodymyrem Zełenskim i odwiedził zniszczone przez Rosjan przedmieścia miasta. Towarzyszył mu m.in. Roderich Kiesewetter (CDU, wiceprzewodniczący komisji ds. służb specjalnych Bundestagu). Podczas konferencji prasowej lider opozycji wskazał, że RFN musi odgrywać „przewodnią rolę” w kwestii gwarancji bezpieczeństwa Ukrainy oraz negocjacji akcesyjnych tego państwa z UE.
Merz, jako…
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Added by FXMAG on May 9, 2022 at 8:18am —
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Nie przegap żadnych istotnych wydarzeń, które w najbliższym tygodniu będą miały miejsce na warszawskim parkiecie. Pierwsze dni notowań, raporty finansowe, dywidendy, pierwsze oferty publiczne, wykluczenia z obrotu, WZA i wiele więcej w naszym cotygodniowym cyklu artykułów Kalendarz GPW. Co wydarzy się w tym tygodniu handlowym i na które spółki warto zwrócić szczególną uwagę? Drugi tydzień maja stoi pod znakiem publikacji wyników za pierwszy kwartał tego roku. Na najbliższych sesjach poznamy…
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Added by FXMAG on May 9, 2022 at 8:18am —
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Soybean prices have been soaring the past month.
Over the past month we have seen the price of soybean futures rise to almost record highs. The Soybean commodity is under price pressure as a secondary backlash from the war between Russia and the Ukraine along with adverse weather conditions in Latin America and supply chain issues around the world. Since the start of the pandemic, the price of Soybean futures have doubled. There is a strong demand for soybean in the form of oil and feed…
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Added by FXMAG on May 6, 2022 at 3:09am —
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Oil prices leap on EU oil ban
Oil prices leapt higher overnight as markets digested the impact of the proposed EU ban on Russian oil imports. Additionally, the OPEC+ JTC is indicating that there will be no change in the monthly schedule of production increases, with some members in fact noting that China’s demand has slumped.
Brent crude rose by 4.05% to USD 111.10 overnight, with WTI climbing by 3.90% to USD 107.55 a barrel. ​ In Asia, Brent and WTI have had a muted session,…
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Added by FXMAG on May 6, 2022 at 3:08am —
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The euro is under pressure and is trading at 1.0557, down 0.58% on the day. This follows a spectacular session on Wednesday, when EUR/USD jumped 0.94%, its best one-day showing since March.
German Factory Orders slide
German factory orders plunged 4.7% MoM in March, after a decline of 0.8% in February. The sharp drop caught the markets off guard, as the consensus estimate stood at -1.1%. The weak release reflects ongoing difficulties for the manufacturing sector,…
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Added by FXMAG on May 6, 2022 at 3:08am —
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Fed hikes by a half-point
A historic Fed decision is in the books and Fed Chair Powell did not disappoint. The Fed delivered the first-rate hike in 22 years and signaled more rate increases are appropriate and that the balance sheet runoff will begin in June. Growth is cooling and that could get a lot worse as the Ukraine invasion will continue to drive upward pressure on prices. Wall Street still believes the Fed will be able to deliver a soft landing and that is good news for equities.…
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Added by FXMAG on May 6, 2022 at 3:07am —
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Oil soars on EU oil sanctions, Fed
Crude prices surged after EU outlined plans on phasing Russian oil and following the FOMC decision that signaled Wall Street has passed peak hawkishness. The oil market will remain tight going forward and now that a peak in the dollar is in place crude prices should have extra support here.
The latest EIA crude oil inventory report posted a surprise build but energy traders fixated over the strategic petroleum reserves falling to the lowest…
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Added by FXMAG on May 6, 2022 at 3:07am —
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A UK recession is coming – the cat is out of the sack, and sterling bulls have turned into mice searching for shelter. There is room for more, as the volatile currency pair digests the decision and the monetary policy divergence with the Fed. And I would add that It could also drag the euro down.
The massive increase in energy prices is set to push inflation to 10% – something which should have pushed the pound higher. If price rises are rapid, so are interest rates. Indeed, no fewer…
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Added by FXMAG on May 6, 2022 at 3:05am —
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The 100 largest wallet addresses on Ethereum holding $1 billion of Shiba Inu have shed nearly $17.6 million in SHIB.
These whales accumulated Shiba Inu for weeks, making the meme coin the largest non-Ethereum altcoin holding in their portfolios.
Analysts believe Shiba Inu price could plummet in response to the largewallet holdings reduction.
Large wallet investors on the Ethereum blockchain have consistently accumulated SHIB. Over the last few days, however, these whales…
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Added by FXMAG on May 6, 2022 at 3:05am —
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Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead.
It’s the Bank of England Podcast today as I step into the breach, once again, for Craig Erlam.
But before that, we discuss last night’s Federal Reserve rate hike, its market impact, and the nuances of the statement. I also give my thoughts on whether the relief rally in equities it sparked, and the US Dollar sell-off will actually last.
Then it’s to…
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Added by FXMAG on May 6, 2022 at 3:04am —
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Lyft announced Q1 earnings on Tuesday.
After Lyft announced their earnings during the trading day on Tuesday, since then the stock price fell almost 33% during intra-day trading on Wednesday. The company’s earnings mostly surpassed market expectations, with EPS a smaller than expected loss, revenue and EBITDA exceeded the market's expectations.
Q2 earnings fall short of analyst expectations.
Lyft revealed they were facing a driver shortage and announced they would increase…
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Added by FXMAG on May 6, 2022 at 3:03am —
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Bitcoin price has kick-started its attempt to move higher, picking up Ethereum and Ripple along with it. Investors can expect BTC to revisit Monday’s high and reevaluate directional bias from there.
Bitcoin price begins its journey higher
Bitcoin price bounces off the lower trend line of the ascending parallel channel, which is formed after drawing trendlines above and below three sets of higher highs and higher lows. Investors can expect BTC to slice through the 100-day Simple…
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Added by FXMAG on May 5, 2022 at 4:02am —
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Oil prices have turned sharply higher this Wednesday in wake of a proposal by the European Commission to phase out all imports of Russian oil within six months, end imports of refined products by the end of the year and kick Russia’s top bank out of the SWIFT global payments system. EU nations will have to unanimously agree on the proposal for it to take effect and a few smaller nations (Hungary, Bulgaria, Slovakia) have been kicking up a fuss, meaning a final deal was not reached on…
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Added by FXMAG on May 5, 2022 at 4:02am —
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Global investors continue to pile into the US Dollar making it the primary safe-haven trade. This may eventually trigger a broad and deep selloff in U.S. stocks. As the USD continues to strengthen, corporate profits for US multinationals will begin to disappear.
The following chart by Finviz shows the percentage the USD has appreciated against all the major global currencies during the past month:…
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Added by FXMAG on May 5, 2022 at 4:02am —
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It was only a matter of time... but this suggests concern is mounting
It didn't take long for the RBI to reconsider its stance at the April meeting, where, despite inflation coming within a whisker of 7.0% year-on-year, rates were left unchanged. At that meeting, the members of the Monetary Policy Committee (MPC) voted unanimously on the following statement, which was that policy should "remain accommodative while focusing on withdrawal of accommodation to ensure that inflation remains…
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Added by FXMAG on May 5, 2022 at 4:01am —
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