S&P 500, Nasdaq: The Bears are Back – USD Spikes, EUR/USD Slides
It’s been a busy 24 hours across global markets and the big driver remains on the horizon for next Wednesday with the FOMC.
US ETF market may start to look more European thanks to ESG
The SEC’s proposed ESG disclosure mandates could lead to a regulatory framework that looks like Europe’s, requiring more details about investing strategies and helping to boost the sector’s share of US ETF assets from 2%.
EUR/JPY IG Client Sentiment: Our data shows traders are now at their least net-long EUR/JPY since Mar 23 when EUR/JPY traded near 133.30.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.
GBP/JPY IG Client Sentiment: Our data shows traders are now at their least net-long GBP/JPY since Jan 16 when GBP/JPY traded near 156.28.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bullish contrarian trading bias.
USD Technical Analysis: DXY Running Back into Long-term Levels
The DXY is on its way back higher and on that testing significant resistance after a big May monthly reversal; levels and lines to watch.
US Dollar Takes Flight as Risk Assets Tank Ahead of US CPI Data. New Highs for DXY?
The US Dollar has gained traction as Treasury yields run higher with inflation concerns growing ahead of US CPI data. Will the USD (DXY) index keep ascending?
Tesla Goes Ahead with China Hiring event on Musk Job Warning
SHANGHAI, June 9 Reuters Tesla was proceeding with an online hiring event in China on Thursday and added two dozen new job postings for the country, a week after Elon Musk threatened job cuts at the electric car maker and said the company was overstaffed in some areas. Tesla plans to hold the event online starting […]
ADB Approves Up to 4.3B Loan for Philppine Railway Project
MANILA, June 9 Reuters The Asian Development Bank ADB said on Thursday it has approved a loan of up to 4.3 billion for a railway project in the Philippines, a muchneeded boost for its ageing rail infrastructure. From more than 1,100 kilometers 683.5 miles prior to World War II, the Philippines had only 77 km […]
Apple to Fund PayLater Loans off its Own Balance Sheet
June 8 Reuters Apple Inc plans to fund loans for its forthcoming Apple Pay Later service off its corporate balance sheet, the company said on Wednesday. Apple said its treasury department will decide the exact mechanism it will use to fund the loans and funding sources may shift over time. Loans and creditworthiness decisions will be […]
India Rupee Hits Low amid Sustained Rise in Global Crude
MUMBAI, June 9 Reuters The Indian rupee hit a record low against the U.S. dollar on Thursday as the relentless surge in global crude oil prices raised concerns about a sustained rise in imported inflation, while choppy domestic shares also hurt. The partially convertible rupee was trading at 77.7980 per dollar after touching a record […]