October 2023 – Page 48 – UAG Trade Asia

Saudi, Russia Supply Cuts Disrupt Oil, US Dollar Relation

October 10, 2023
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LONDON, Oct 10 Reuters Saudi Arabia and Russia39;s crude supply cuts in tandem with U.S. interest rate rises have disrupted oil39;s tendency to move in the opposite direction to the U.S. dollar, although analysts say the darkening economic outlook will eventually restore the equation. A strong dollar typically weighs on oil prices as it makes […]

October 10, 2023
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ROME, Oct 10 Reuters Italian Economy Minister Giancarlo Giorgetti suggested on Tuesday that the government intends to sell stakes in the stateowned railways and motorway network. Giorgetti was asked by reporters in parliament if Rome39;s plan announced last month to raise 1 of gross domestic product GDP, or 21 billion euros 22.24 billion, from state […]

October 10, 2023
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Global growth forecast unchanged at 3.0 in 2023 Inflation dropping but 39;not quite there yet39;IMF chief economist IMF raises U.S. forecast, cuts outlook for China, euro area MARRAKECH, Morocco, Oct 10 Reuters The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro area and said overall global growth remained low […]

October 10, 2023
Trading Strategies
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Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.

October 10, 2023
Trading Strategies
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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.

October 10, 2023
Business
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Oct 10 Reuters Canadian labor union Unifor said early on Tuesday it would begin strikes at three General Motors facilities in the country after it failed to reach a deal on a new contract to improve wages and pensions by a midnight deadline. Unifor, which represents about 4,300 workers at GM covered by the talks, said […]

October 10, 2023
Business
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BEIJING, Oct 10 Reuters Chinese electric vehicle startup WM Motor has filed for bankruptcy, marking the demise of a promising standout among China EV makers as price competition in the world39;s largest auto market heats up. A court in Shanghai is handling the bankruptcy case, according to a filing dated Monday on the national enterprise […]

October 10, 2023
Business
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BRUSSELS, Oct 9 Reuters EU antitrust regulators are asking Microsoft39;s users and rivals whether Bing should comply with new tough tech rules and also whether that should be the case for Apple39;s iMessage, people familiar with the matter said on Monday. The European Commission in September opened investigations to assess whether Microsoft39;s Bing, Edge and Microsoft Advertising […]

October 10, 2023
Finance
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Oct 10 Reuters The Russian rouble dived towards a more than an 18month low on Tuesday before paring most losses in a volatile session, under pressure from domestic demand for foreign currency and a drop in oil prices. By 1034 GMT, the rouble was 0.3 weaker against the dollar at 99.63 . It had been […]

October 10, 2023
Finance
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PREVIOUS TRADING DAY EVENTS 09 Oct 2023 The Palestinian Islamist group Hamas launched a devastating attack, enabling a force using bulldozers, hang gliders and motorbikes to take on the Middle Easts most powerful army. The worst breach in Israels defences since Arab armies waged war in 1973 was Saturdays assault. While Israel was led to […]

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Saudi, Russia Supply Cuts Disrupt Oil, US Dollar Relation

Italy Minister Points to Sale of Stakes in Railways, Motorways

IMF says Global Economy Limping Along, Cuts Growth Forecast for China, Euro Area

US 500 IG Client Sentiment: Our data shows traders are now net-short US 500 for the first time since Sep 26, 2023 when US 500 traded near 4,277.54.

Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Sep 21, 2023 when Wall Street traded near 34,068.90.

Canadian Union Unifor Strikes at GM after Contract Talks Fail

Chinese EV Startup WM Motor Files for Bankruptcy

Should new Tech Rules Apply to Microsofts Bing, Apples iMessage, EU Asks

Russian Rouble Pares Losses vs Dollar in Volatile Trade

U.S. Stock Market Up, Commodities in Consolidation, USD Weakens, Cryptos Weakened

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