Pound Fundamental Forecast: Constrained Consumers Send GBP Lower
The pound continues to grapple with many fundamental challenges. The main ones include stubbornly high prices, declining economic activity (spending).
Australian Dollar Outlook: CPI Moves into View
The Australian Dollar made a six-month peak last week as the US Dollar continues to weaken with the Fed in focus. Local CPI data is due this week. Will it push AUD/USD higher?
Orsted Shares Slide on 2023 Outlook
COPENHAGEN, Jan 20 Reuters Shares in Danish energy company Orsted tumbled by more than 7 on Friday after announcing a writedown on a large U.S. offshore wind project and an earnings forecast for 2023 that fell short of analyst estimates. Despite rising demand for green energy, dark clouds are gathering over the offshore wind power industry […]
Oil Heads for Second Week of Gains on China Demand Outlook
OPEC and IEA forecast growing Chinese oil demand in 2023 Hopes for Fed downshift on interest rate hikes also support Market shrugs off large increase in U.S. crude inventories LONDON, Jan 20 Reuters Oil rose on Friday and was heading for a second straight weekly gain, spurred largely by brightening economic prospects for China and […]
US Dollar Technical Forecast: EUR/USD, GBP/USD, AUD/USD, USD/CAD
The US Dollar set a fresh seven-month-low this week while testing a key spot of support at the 50% mark of the two-year-trend.
Telia Warns of 2B Impairment in Q4 as Interest Rates Rise
STOCKHOLM, Jan 20 Reuters Swedish telecom operator Telia Company warned on Friday its fourthquarter results would be hit by noncash impairment charges due mainly to increased cost of capital. The Swedish group, which is due to publish its full quarterly earnings report on Jan. 26, said in a statement impairments across its operations would total 19.8 […]
Crypto Lending Unit of Genesis Files for U.S. Bankruptcy
Jan 20 Reuters The lending unit of crypto firm Genesis filed on Thursday for U.S. bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi. Genesis Global Capital, one of the largest crypto lenders, froze customer redemptions on Nov. 16 after FTX stunned the financial world with its […]
China Reopening Spurs Record Inflows into Emerging Market Funds BofA
LONDON, Jan 20 Reuters Investors poured a record 12.7 billion into emergingmarket debt and equity funds in the week to Wednesday, in response to China39;s easing of its COVID19 restrictions on activity, data on Friday from BofA Global Research showed. The sudden shift in Chinese policy has boosted many different asset classes, from commodities and mining […]
UK Shoppers Cut Back on Spending as Inflation Takes its Toll
LONDON, Jan 20 Reuters Inflationpinched British shoppers unexpectedly cut their spending in December, official data showed on Friday, dashing hopes for a Christmas shopping boost for the country39;s flagging retail sector. Retail sales volumes fell by 1 in December from November, the Office for National Statistics said. A Reuters poll of economists had pointed to […]
S&P 500 and Nasdaq 100 Fundamental Forecasts for the Week Ahead
US equity markets have been on the back foot for most of the week as the US earnings season gets into full flow.