Category: Finance Tech

March 20, 2023

Asian stocks tumbled on Monday amid signs of a deepening crisis in the financial system, lingering fears of a global recession and anxiety ahead of a Federal Reserve meeting this week. Regulators in Asia issued reassuring statements that their banking […]

March 17, 2023

Investor sentiment remained fragile on Friday despite massive rescue for the banking sector, leaving global equities under pressure while gold prices were poised for their largest one-week rally since March 2020. U.S. Treasury yields extended their slide, and oil prices […]

March 16, 2023

The fallout from regulators’ takeover of Silicon Valley Bank and Signature Bank has rippled through to payments companies, forcing them to minimize disruption to their businesses. Marqeta, Modern Treasury and Bill Holdings were among the companies impacted by the bank […]

March 15, 2023

Stocks are back to falling on Wall Street Wednesday as worries worsen about the strength of banks on both sides of the Atlantic. The S&P 500 was 1.3% lower in midday trading, while markets in Europe fell more sharply as […]

March 13, 2023

The Australian dollar garnered support this Monday morning after continued concern over the Silicon Valley Bank (SIVB) collapse despite US policy makers (Federal Reserve, US Treasury and the Federal Deposit Insurance Corporation) issuing statements in attempts to quell worries in […]

March 13, 2023

The collapse of SVB (Silicon Valley Bank) has sent jitters through global markets, supporting safe-haven gold. After the financial institution came under scrutiny last week, fears over client’s access to deposits exacerbated concerns. While the collapse marks the largest bank […]

March 10, 2023

Asian stocks tumbled on Friday amid concerns about the health of the U.S. banking sector and anxiety ahead of the all-important U.S. jobs data due later in the day that could set the tone for the U.S. rates outlook. Silicon […]

March 10, 2023

The euro gathered some support this Friday morning with a marginally weaker USD and better than expected German CPI data (see economic calendar below). Although actual numbers printed in line with forecasts, the 8.7% figure highlights the elevated and stubborn […]

March 9, 2023

Major global stock markets were mostly lower Thursday amid worries about more U.S. interest rate hikes. London, Shanghai and Frankfurt declined. Tokyo advanced. Oil prices were lower. Wall Street futures were lower following Federal Reserve chair Jerome Powell’s warning that […]

March 9, 2023

The Australian dollar is attempting a pullback this Thursday after Tuesday’s 2.2% fall against the U.S. dollar. The morning kicked off with some poor economic data (see calendar below) out of Australia by way of building permits and private house […]

March 8, 2023

Gold prices consolidated in the early part of the European session following yesterday’s selloff as $1800 psychological level comes back into focus. Gold is looking to extend its losing streak to a third straight day as a batch of US […]

March 8, 2023

The US dollar looks set to gain further against some of its peers on relative outperformance of the US economy and monetary policy edge. In his semi-annual testimony to lawmakers, US Federal Reserve Chair Jerome Powell stepped up hawkishness, saying […]

March 7, 2023

EUR/USD jumped higher to start this week ahead of Federal Reserve Chair Jerome Powell’s testimony to Senate Banking Committee in Washington on Tuesday and Wednesday. Additional event risk may also lie in the Euro wide GDP figures that will be […]

March 6, 2023

Stocks are ticking higher Monday to add a bit more to Wall Street’s newfound strength. The S&P 500 was 0.6% higher in morning trading after coming off its first winning week in the last four. The Dow Jones Industrial Average […]

March 6, 2023

The Australian dollar gave up some of its gains this Monday morning after China’s National People’s Congress (NPC) delivered a more conservative outlook for 2023 GDP. Forecasts now point to 5% as opposed to the anticipated 5.5-6% range which may […]

March 6, 2023

Bitcoin and Ethereum prices have stabilized after Friday’s plunge that occurred on rising fears over crypto-based bank, Silvergate. After announcing a 40% reduction in its workforce, the firm announced a “risk-based” decision to discontinue its Exchange Network. As Coinbase, Galaxy […]

February 28, 2023

The Canadian dollar has been at the mercy of USD dictatorship of recent as the markets continue its hawkish repricing of interest rate guidance for the Federal Reserve. Peak rates for 2023 have now pushed up above 5.4% while money […]

February 27, 2023

Stocks are rallying Monday, clawing back some of their losses from Wall Street’s worst week since early December. The S&P 500 was 1% higher in morning trading and on pace for just its second gain in the last seven days. […]

February 27, 2023

The British pound has not really moved much overnight in the Asian session largely due to the follow through from Friday’s US core PCE price index that showed elevated inflation pressures via the Fed’s preferred measure. Terminal rates for 2023 […]

February 24, 2023

Gold prices declined yesterday printing a fresh low around the $1817 mark in the US session. Overnight buying pushed the precious metal back toward the $1825 handle with the European open facilitating further declines (trading at $1820 at the time […]