March 2023 – Page 22 – UAG Trade Asia

South African Rand Weakens ahead of AntiGovernment Protest

March 20, 2023
Finance
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JOHANNESBURG, March 20 Reuters The South African rand weakened against the dollar on Monday ahead of planned protests by the Marxist Economic Freedom Fighters EFF party. At 0743 GMT the rand traded at 18.4350 against the dollar, 0.16 weaker than its previous close. South African security forces on Monday said 87 people had been arrested over the […]

March 20, 2023
Finance
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Gold jumps 1 Focus on Fed policy meeting this week Bank stocks struggle to shake selling pressure March 20 Reuters Gold prices jumped 1 to their highest since March last year on Monday, erasing earlier losses, as worries about the global banking sector returned to the fore despite rescue efforts by Swiss lender UBS to buy […]

March 20, 2023
Finance
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March 20 Reuters European stocks fell on Monday and shares of Credit Suisse dived more than 60 after UBS agreed to buy the troubled bank in a 3 billion deal, valuing the Swiss lender at just a fraction of its market value and sparking fears of a broader banking crisis. The panEuropean STOXX 600 index fell […]

March 20, 2023
Finance
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Credit Suisse slumps over 63 after emergency weekend takeover European bank shares fall over 5 in early trading Government bonds and gold rally as investors seek safety LONDON, March 20 Reuters European share markets opened sharply lower and government bonds and gold rallied in a rush for safety on Monday as the emergency weekend rescue […]

March 20, 2023
Finance
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Banks extend decline, Barclays down 4.8 FTSE 100 down 1, FTSE 250 off 1.4 March 20 Reuters London stocks fell 1 on Monday, as banks stretched declines after Swiss lender UBS39;s weekend deal to rescue rival Credit Suisse failed to stem fears of a global banking meltdown. The bluechip FTSE 100 fell 1, hitting its lowest […]

March 20, 2023
Finance
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Progress on decarbonization has slowed despite the continued build-out of huge wind farms and a rapid build-out of solar generation.

March 20, 2023
Business
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March 16 Reuters Amgen Inc said on Thursday it would cut 450 jobs, or less than 2 of its workforce, making it the company39;s second round of layoffs this year amid intensifying pressure on drug prices and high inflation. We made these changes to realign our expense base in the face of intensifying pressure on drug […]

March 20, 2023
Business
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ZURICH, March 20 Reuters Credit Suisse and UBS could benefit from more than 260 billion Swiss francs 280 billion in state and central bank support, a third of the country39;s gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the deal show. Swiss authorities announced on Sunday that UBS had […]

March 20, 2023
Business
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March 20 Reuters The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank SVB and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week. It will seek bids for Silicon Valley Private Bank until March […]

Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Mar 07, 2023 when Wall Street traded near 32,870.10.

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bullish contrarian trading bias.

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South African Rand Weakens ahead of AntiGovernment Protest

Gold Bounces as Banking Sector Concerns Return to Fore

European Stocks Slide as Credit Suisse Buyout Fails to Soothe Investors

European Bank Shares Slide after Credit Suisse Rescue

Banks Drag FTSE 100 Lower as Credit Suisse Rescue Fails to Soothe Nerves

Decarbonizing the U.S. power system has slowed

Amgen to Cut 450 Jobs in Second Round of Layoffs this Year

Switzerland Puts Up 260B Francs for Credit Suisse Rescue

FDIC to Break Up SVB, Seeks Separate Sale of Private Unit

Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Mar 07, 2023 when Wall Street traded near 32,870.10.

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