Firmenchef Alexander Sixt über politische Fehler bei der Elektromobilität, den Umbau der Sixt-Flotte auf Stromer, die Chancen in den USA – und die Stimmung in Deutschland.
Kanzler schließt Taurus-Lieferung an die Ukraine aus +++ Ukraine meldet neue Angriffe auf Energieanlagen +++ Der Newsblog.
Israel fliegt nach Beschuss Luftangriffe in Gaza und im Libanon +++ EU erhöht Hilfen für Gaza +++ Der Newsblog.I’ve always gravitated towards financial news because it’s the one industry where there’s a scorecard. You can still get away with lies for a time (probably for too long) but if the profits or jobs don’t materialize, then there’s a price to pay. Ultimately though, you get paid to be right and by having a worldview that reflects reality.
Unfortunately, long-term thinking (and investing) are in decline. All news is geared to stirring emotions now and the strongest emotions are fear and anger. I can tell you, it’s much easier to generate traffic with those kinds of stories and headlines. What’s happened in the past 15 years is that everyone else has figured that out.
Angry and scared people click and it’s created some kind of doom-loop dopamine fix that far too many people are addicted to.
There are consequences. I’m amazed — though not surprised — by this chart from Ben Carlson today showing deteriorating views of local and national economies but a steady view of personal finances.
There are many similar examples.
Objectively, we can see that US unemployment is at historically low levels and yet people are pessimistic. It’s not only in the US either, though I think the toxicity of US political news is particularly bad.
Carlson argues that this is mostly symptomatic of the volume of news that people are consuming. We used to read newspapers perhaps once a day or watch an hour of somewhat balanced TV news. Now it’s all day long and the algos serve up headlines designed to drive engagement. Nine times out of ten, the engagement bait is fear and anger.
That’s bad news for all of us and dangerous for investors. What happens when truly bad times come? Will there be violence?
For investors it’s a trap too. Stories predicting crashes get 10x the attention than those predicting booms and those predicting ongoing moderate gains are ignored completely. In investing, the big money is always in the holding and in letting winners ride. Every headline you read makes keeping a calm head that much harder.
It’s not all downside though. Fearmongering in the news can lead to overshoots to the downside in markets as well and that will continue to create opportunities for people who have hardened themselves to the fear-cycle. But I’ll warn: it’s much easier to be fearful when others are greedy than it is to be greedy when others are fearful.
This article was written by Adam Button at www.forexlive.com.
The JPY pairs all rose sharply (JPY lower) as JPY selling continued after the BOJ rate decision.
The comments from BOJ Ueda did not strike any fear in traders hearts, after saying that the JPYs fall could lead to higher inflation, but expressed no concerns about its fall.
After, an initial dip soon after the announcement to near 155.00, buyers quickly reentered. The USDJPY is extending to a new session high at 158.292 going into the last minutes of trading today. The high price from 1990 at 160.40 is within reach.
The JPY moved the most vs the AUD with a fall of -1.92%. It fell -1.69% versus a US dollar and -1.59% versus the Canadian dollar.
Looking at the JPY crosses:
Looking at the strongest to weakest of the major currencies, the AUD and the USD were the strongest today.
Today in the US session, core PCE for the month March was released and came in better than expectations. After the US GDP yesterday showed core PCE for the first quarter higher than expectations, the fear was for a rise of 0.4 – 0.5%. The actual increase for the month came in 0.3%. The year-on-year stayed unchanged at 2.8% which was 0.1% higher than the 2.7% estimate.
Coming off stronger earnings from Microsoft and Alphabet after the close on Thursday, stocks got another boost. The gains were led by the NASDAQ index which rose over 2% on the day and by 4.23% for the trading week. That was the best week since October 2023. The S&P index rose 1.02% today, and its week gain of 2.67% is good enough for its best performance since October as well.
In the US debt market, yields are ending the day lower but off their lowest levels. Yields are still higher for the trading week:
For the trading week:
in other markets this week:
This article was written by Greg Michalowski at www.forexlive.com.
The catalyst was lower than anticipated core PCE data released by the Federal Reserve. That inflation measure is the favor measure of inflation by the Fed. Given the GDP day yesterday with the quarterly core PCE data higher than expectations, the fear was a surprise to the upside today. The MoM came in as expected 0.3%. There was rumblings of a +0.4 – +0.5% level after the data yesterday.
The final numbers today are showing:
The small-cap Russell 2000 rose 20.8 points or 1.05% at 2001.99.
For the trading week, the S&P and NASDAQ indices had their best week since October 30, 2023.
Gains today were led by:
The big losers today included:
Next week, the following companies will announce their earnings (* after the close):
Monday, April 29
Tuesday, April 30
Wednesday, May 1
Thursday, May 2
Friday, May 3
This article was written by Greg Michalowski at www.forexlive.com.
Traders may look to lean against the high ceiling area from 2008 with stops on a break above (see red number circles in yellow area on the chart above). However, if it is like the USDJPY, be careful.
The USDJPY moved above the 155.00 level this week (on Wednesday) and apart from a flush out immediately after the rate decision today, has been trending higher. The USDJPY price currently trades at 157.864
This article was written by Greg Michalowski at www.forexlive.com.