First Republic Bank (FRC.US) returned to the spotlight this week following the release of Q1 earnings report on Monday evening. Release showed a scope of damage done to the bank amid recent US banking turmoil and highlighted that the bank has not yet fend off a risk of collapse. This has triggered an around-50% plunge on […]
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27
Apr
Apr
CBRT Leaves Rates Unchanged
Central Bank of the Republic of Turkey announced its latest rate decision today at 12:00 pm BST. Market expected CBRT to hold the main 1-week repo rate unchanged at 8.50% for another month. There was no surprise as rates were left unchanged. Such a decision was widely expected and therefore no major reaction could be […]
27
Apr
Apr
U.S 100 Tests 13,000pts Ahead of GDP Data
📣US GDP report for Q1 2023 (1:30 pm BST) is the final key data releases ahead of next week’s FOMC decision US economy is slowing but a number of parts of the economy are still showing solid data. This is especially true for jobs market as well as the services sector. However, recent data releases […]
27
Apr
Apr
Met Platforms on a Wave of Quarterly Results
Big-tech companies are extending the wave of publishing surprisingly good quarterly results. Yesterday, Meta Platforms (META.US) boasted its results, managing to post a surprising increase in revenue, raising its full-year guidance and announcing that it will further strengthen its commitment to developing new AI solutions. All of this saw the company’s shares rise more than 12% in […]
27
Apr
Apr
Chart of The Day USD/JPY
USDJPY is one of the FX pairs that may see elevated volatility until the end of the week. This is because of a number of top-tier releases and events from the United States and Japan, scheduled for the final two days of the week. Traders will be offered a flash release of Q1 GDP report […]
27
Apr
Apr
Asia FX weakens, dollar steadies before GDP, inflation data
Most Asian currencies moved in a flat-to-low range on Thursday amid persistent fears of slowing economic growth and rising interest rates, while the dollar steadied ahead of key economic readings on growth and inflation due later in the day. China’s yuan was flat, but was less than 1% away from breaching the 7 level against the […]
27
Apr
Apr
Euro near one-year peak as US economic risks weigh on dollar
TOKYO (Reuters) – The euro hovered near a one-year high versus the dollar on Thursday, as Europe’s resilient economy contrasted with banking contagion risks in the United States, the debt ceiling standoff and a potential recession. The risk-sensitive Aussie struggled to stay above the key 66 cent mark, while leading cryptocurrency bitcoin found its footing around $29,400 […]
27
Apr
Apr
Argentinean govt to pay for Chinese imports in yuan rather than dollars
BUENOS AIRES (Reuters) -Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country’s dwindling dollar reserves. In April, it aims to pay around $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly […]
27
Apr
Apr
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Yuan overtakes dollar to become most-used currency in China’s cross-border transactions
SHANGHAI (Reuters) – The yuan became the most widely-used currency for cross-border transactions in China in March, overtaking the dollar for the first time, official data showed, reflecting efforts by Beijing to internationalise use of the yuan. Cross-border payments and receipts in yuan rose to a record $549.9 billion in March from $434.5 billion a […]
26
Apr
Apr
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Oil closes bullish price gap triggered by surprise OPEC+ output cut
⛽ Oil closes bullish price gap triggered by surprise OPEC+ output cut Brent and WTI are trading almost 1% lower today. Brent (OIL) dropped below $80 per barrel for the first time since March 31, 2023. This means that price has finally closed a massive bullish price gap that was triggered by an unexpected OPEC+ […]