China said that it would „strongly oppose“ a forced sale of TikTok from its parent ByteDance, as the app faced intense scrutiny and a potential ban in U.S.
Archiv für den Monat: März 2023
The Swiss claim the U.S. banking crisis ultimately toppled Credit Suisse. But are they right?
Swiss authorities placed a heavy emphasis on the role of U.S. regional banking collapses in pushing Credit Suisse to the brink.
Crypto is banned in China, but Binance employees and support volunteers tell people how to bypass the ban
The techniques have evolved to sidestep Binance’s highly publicized know-your-customer controls, and focus on obscuring a user’s country of origin.
Lidar maker Ouster dips as quarterly losses widen, but CEO sees savings in Velodyne merger
Ouster is on track to realize the benefits of its merger with Velodyne, completed in February. But its pre-merger Q4 results fell short of expectations.
USD/JPY Technical Analysis
<p class=“MsoNormal“>On the daily chart below, we can
see that the pair keeps on falling pretty hard as Treasury yields keep sagging
due to the market pricing in the end of the Fed hiking cycle and several rate
cuts this year. This fast repricing was caused by the recent banking woes
around the regional banks. </p><p class=“MsoNormal“>The <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
averages</a> have crossed to the downside indicating a downtrend. The price though
is a bit overextended now, as we can see from the distance between the price
and the blue short term period moving average, which is generally a sign of a
looming pullback. </p><p class=“MsoNormal“>USD/JPY technical analysis</p><p class=“MsoNormal“>On the 4 hour chart below, we can
see that the market is trading within a downward channel. We can also see that
the price is <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-divergence-20220429/“>diverging</a> with the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-macd-20220427/“>MACD</a> which is another sign of a
possible pullback as the selling momentum gets weaker. It’s hard to envision a
pullback without good US economic data though. Today we have the <a target=“_blank“ href=“https://www.forexlive.com/EconomicCalendar“>US PMIs</a> and we should see the price
rallying in case the data beat expectations and falling in case the data
misses.</p><p class=“MsoNormal“>On the 1 hour chart below, we
have a <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a> that defines the current trend.
The buyers will need a break above it to target the top of the channel, while
the sellers will try to lean on it with the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-confluence-20220318/“>confluence</a> of the red long period moving
average as their first try for new shorts. </p>
see that the pair keeps on falling pretty hard as Treasury yields keep sagging
due to the market pricing in the end of the Fed hiking cycle and several rate
cuts this year. This fast repricing was caused by the recent banking woes
around the regional banks. </p><p class=“MsoNormal“>The <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
averages</a> have crossed to the downside indicating a downtrend. The price though
is a bit overextended now, as we can see from the distance between the price
and the blue short term period moving average, which is generally a sign of a
looming pullback. </p><p class=“MsoNormal“>USD/JPY technical analysis</p><p class=“MsoNormal“>On the 4 hour chart below, we can
see that the market is trading within a downward channel. We can also see that
the price is <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-divergence-20220429/“>diverging</a> with the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-macd-20220427/“>MACD</a> which is another sign of a
possible pullback as the selling momentum gets weaker. It’s hard to envision a
pullback without good US economic data though. Today we have the <a target=“_blank“ href=“https://www.forexlive.com/EconomicCalendar“>US PMIs</a> and we should see the price
rallying in case the data beat expectations and falling in case the data
misses.</p><p class=“MsoNormal“>On the 1 hour chart below, we
have a <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a> that defines the current trend.
The buyers will need a break above it to target the top of the channel, while
the sellers will try to lean on it with the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-confluence-20220318/“>confluence</a> of the red long period moving
average as their first try for new shorts. </p>
This article was written by ForexLive at www.forexlive.com.
Dow Jones Technical Analysis
<p class=“MsoNormal“>On the daily chart below, we can
see that the sellers leant on the strong <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>resistance</a> zone at the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a> where we had <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-confluence-20220318/“>confluence</a> with the red long period <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
average</a> and the resistance level at 32684. </p><p class=“MsoNormal“>The price has sold off from that
area as the Fed hiked interest rates by 25 bps and left everything else unchanged,
including QT and the Dot Plot besides the market pricing rate cuts this year.
So, the Fed is still resolute in bringing inflation down to their 2% target but
has also acknowledged risks around the banking sector.</p><p class=“MsoNormal“>Dow Jones technical analysis</p><p class=“MsoNormal“>On the 4 hour chart below, we can
see that after rejecting the trendline and the 61.8% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level, the price sold off pretty heavily before
bouncing the following day. The moving averages have crossed to the downside
meanwhile, which may be an early signal of a change in trend. </p><p class=“MsoNormal“>In the 1 hour chart below, we can
see that the sellers will now need a clear break below the 32225 level to gain
some control and start targeting the low at 31645. In case the sellers manage
to break the low, we may see a bigger selloff to the 31000 level. </p><p class=“MsoNormal“>The buyers, on the other hand,
will need to break above the trendline and the 32684 resistance level to regain
control and target the next resistance at 33500. </p>
see that the sellers leant on the strong <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>resistance</a> zone at the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a> where we had <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-confluence-20220318/“>confluence</a> with the red long period <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
average</a> and the resistance level at 32684. </p><p class=“MsoNormal“>The price has sold off from that
area as the Fed hiked interest rates by 25 bps and left everything else unchanged,
including QT and the Dot Plot besides the market pricing rate cuts this year.
So, the Fed is still resolute in bringing inflation down to their 2% target but
has also acknowledged risks around the banking sector.</p><p class=“MsoNormal“>Dow Jones technical analysis</p><p class=“MsoNormal“>On the 4 hour chart below, we can
see that after rejecting the trendline and the 61.8% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level, the price sold off pretty heavily before
bouncing the following day. The moving averages have crossed to the downside
meanwhile, which may be an early signal of a change in trend. </p><p class=“MsoNormal“>In the 1 hour chart below, we can
see that the sellers will now need a clear break below the 32225 level to gain
some control and start targeting the low at 31645. In case the sellers manage
to break the low, we may see a bigger selloff to the 31000 level. </p><p class=“MsoNormal“>The buyers, on the other hand,
will need to break above the trendline and the 32684 resistance level to regain
control and target the next resistance at 33500. </p>
This article was written by ForexLive at www.forexlive.com.
Forexlive European FX news wrap 24 Mar: PMIs and Banking shares going bye-bye
<p>Yeah, yeah.. I know, a half day today (some of you will be pleased about that) – unfortunately family matters come first.I wish you all an awesome weekend.</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/no-let-up-for-world-stocks-as-banking-worries-persist-20230324/“>No let up for world stocks as banking worries persist</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-nagel-it-is-necessary-to-raise-policy-rates-to-sufficiently-restrictive-levels-20230324/“>ECB’s Nagel: It is necessary to raise policy rates to sufficiently restrictive levels.</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/uk-sp-services-pmi-flash-528-forecast-53-previous-535-20230324/“>UK S&P Services PMI Flash: 52.8 (Forecast 53, Previous 53.5)</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/eurozone-sp-mfg-pmi-flash-471-forecast-49-previous-485-20230324/“>Eurozone S&P Mfg PMI Flash: 47.1 (Forecast 49, Previous 48.5)</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/german-sp-mfg-pmi-flash-444-forecast-47-previous-463-20230324/“>German S&P Mfg PMI Flash: 44.4 (Forecast 47, Previous 46.3)</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/french-sp-services-pmi-flash-555-forecast-525-previous-531-20230324/“>French S&P Services PMI Flash: 55.5 (Forecast 52.5, Previous 53.1)</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/newsquawk-market-open-wall-st-higher-amid-dovish-repricing-despite-hawkish-thurs-action-20230324/“>@Newsquawk Market Open: Wall St higher amid dovish repricing despite hawkish Thurs action</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/uk-retail-sales-mom-12-forecast-02-previous-05-20230324/“>UK Retail Sales MoM: 1.2% (Forecast 0.2%, Previous 0.5%)</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/boes-bailey-warns-interest-rates-will-rise-again-if-firms-hike-prices-20230324/“>BoE’s Bailey warns interest rates will rise again if firms hike prices</a></li></ul>
This article was written by Ryan Paisey at www.forexlive.com.
No let up for world stocks as banking worries persist
<p><a target=“_blank“ href=“https://PiQSuite.com/Suite/reuters/2023:newsml_KBN2VQ04K“ target=“_blank“ rel=“nofollow“>As Reuters Reports: Global stocks were pressured on Friday and safe-haven buying supported government bonds as concerns about the stability of the banking system lingered.</a></p><p>Global stocks were pressured on Friday and safe-haven buying supported government bonds as concerns about the stability of the banking system lingered. </p><p>The STOXX sub-index of bank shares, which had rebounded from earlier falls this week following a forced weekend tie-up between Credit Suisse and UBS bought some stability, fell almost 3% in early trade. </p><p>Shares in Deutsche Bank tumbled after a sharp jump in its credit default swaps, which reflect the cost of insuring debt against the risk of default, the day before.</p><p>The moves highlight just how frail sentiment remains after turmoil in the U.S. and European banking sectors in the past two weeks have revived memories of the 2008 global financial crisis.</p>
This article was written by Ryan Paisey at www.forexlive.com.
ECB’s Nagel: It is necessary to raise policy rates to sufficiently restrictive levels.
<p><a target=“_blank“ href=“https://PiQSuite.com/Suite/reuters/2023:newsml_KBN2VQ0LJ“ target=“_blank“ rel=“nofollow“>The European Central Bank must continue to raise interest rates and should speed up the reduction of its balance sheet as rapid wage growth is putting upward pressure on an already high inflation rate, Bundesbank President Joachim Nagel said on Friday.</a></p><p>ECB’s Nagel is on the wires:</p><p>It is necessary to raise policy rates to sufficiently restrictive levels, the wind down should accelerate from Q3.</p><p>The recent wage deals are inconsistent with price stability and are to prolong the prevailing period of high inflation.</p><p>There are signs of second-round effects from <a target=“_blank“ href=“https://www.forexlive.com/terms/i/inflation/“ class=“terms__main-term“ id=“ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa“>inflation</a>-induced higher wage increases back to prices.</p><p>The labour market is to remain tight, labour shortages are obstacles to production.</p>
This article was written by Ryan Paisey at www.forexlive.com.