June 2023 – Page 14 – UAG Trade Asia

SP Cuts China GDP Forecast as Calls for Stimulus Intensify

June 26, 2023
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BEIJING, June 26 Reuters SP Global cut its forecast for economic growth in China this year, underscoring the uneven nature of the country39;s postreopening recovery that is spurring more calls for further stimulus. SP now expects China to log GDP growth of 5.2 in 2023, down from an earlier estimate of 5.5. It was the […]

June 26, 2023
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EU countries watching food prices closely Sweden competition authority says sector 39;oligopolistic39; Says margins 39;had better be39; connected to costs But difficult to isolate exact cause of inflation STOCKHOLM, June 26 Reuters Sweden39;s competition authority has expressed concern about margins being charged by supermarkets and wholesalers as it probes possible profiteering in a country that […]

June 26, 2023
Business
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ZURICH, June 26 Reuters The Swiss National Bank SNB is to issue a wholesale central bank digital currency CBDC on Switzerland39;s SIX digital exchange as part of a pilot, the central bank39;s chairman said at a conference in Zurich on Monday. This is not just an experiment, it will be real money equivalent to bank […]

June 26, 2023
Business
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PARIS, June 26 Reuters Cashstrapped French supermarket retailer Casino on Monday said it aims to conclude a debt restructuring agreement with its creditors by the end of next month, telling creditors it needed an equity contribution of at least 900 million euros 981.63 million. Casino and the holders of its 6.4 billion euros 7 billion of […]

June 26, 2023
Business
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June 26 Reuters British luxury carmaker Aston Martin has reached a deal that will give U.S. electric vehicle EV maker Lucid Group a 3.7 stake in the company in return for access to its high performance technology, Aston Martin said on Monday. Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to […]

June 26, 2023
Oil
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Crude benchmarks pare gains after rising as much as 1.3 Clash between Moscow and mercenary group averted over weekend U.S. rig count falls for eighth straight week SINGAPORE, June 26 Reuters Oil prices rose on Monday after a revolt by Russian mercenaries over the weekend raised concerns about political instability in Russia and the potential […]

June 26, 2023
Finance
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Worsening conditions in the U.S. mortgage-backed securities market are doing little to ease fears over financial contagion.

Asia Day Ahead: Subdued Start to the Week Amid Light Calendar in the Region

Last Friday brought another downbeat session in Wall Street, with the S&P 500 adding to recent losses to close 1.4% lower for the week.

June 25, 2023
Forecast
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The Australian Dollar capitulated last week as the US Dollar regained the upper hand with the Fed talking up more hikes while Aussie bond markets see clouds ahead. Lower AUD/USD?

June 24, 2023
Forecast
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Gold staged an attempted recovery on Friday as recessionary fears were reignited. Is the current selloff a precursor for the next bullish rally?

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SP Cuts China GDP Forecast as Calls for Stimulus Intensify

Sweden sees Cause for Concern on Retailer Margins as Food Prices Surge

SNB to Launch Digital Currency Pilot Chairman

Retailer Casino Tells Creditors it Needs Equity Contribution of at Least 900 mln Euros

Aston Martin Turns to US EV Company Lucid for HighTech Help

Oil Rises on Supply Concerns Fuelled by Russian Political Turmoil

Mortgage indicators ring alarms as spreads near post-subprime highs

Asia Day Ahead: Subdued Start to the Week Amid Light Calendar in the Region

Australian Dollar Outlook: US Dollar in Play as Local Bond Yields Invert

Gold Weekly Forecast: Bearish Breakout May be Limited as Recession Fears Grow

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