· New Treasurer highlights challenges ahead. · Domestic energy prices sky-rocketing. · RBA Governor and Board Must Be Sacked Publicly in Disgrace. After spending a year warning of the coming completely under-estimated by markets Australian crisis, it has finally arrived. Yesterday, I said the economic crisis of ‚recession risk‘ was already on our door-step. Today, I would say it has arrived. Suddenly the Federal Treasurer is warning of significant economic challenges in contrast to the previous government’s mantra of everything is great? The private sector is screaming from the rooftops over energy costs destroying profit margins. Domestic gas prices have surged and yet Australia is one of the world’s biggest exporters. This is just one example of how I have warned that it did not matter that we are an agriculturally and mineral rich nation. That global pricing pressures would see Australia heavily negatively impacted in the domestic economy by booming export prices. Such is the modern world. Global capitalism has magnificently reduced global absolute poverty and leveled the playing field for everyone. No it is not a perfect world, but it is a far better world for globalisation. That said, there is a price to pay. It is called global pricing in the domestic market. Not only has the whole world experienced supply disruption and profit fattening induced extreme inflation, but also the impact of both war and sanction driven intense actual availability of supply shortages. So, more together than we have ever been, economically and socially in history, we will all now experience these challenges. Australia has been late in seeing these global challenges hitting our shores. Despite all the warnings provided here. At last though, the new Treasurer seems instantly aware and this is a very good thing. We cannot stop the upward challenges of rising prices for the most staple of necessities, food and energy, but we can moderate the impact on hard working Australian families through thoughtful policy. On interest rate settings, the RBA has been nothing short of a catastrophe to the nation, our economy and our people. · The RBA is the primary generator of inflated property prices and housing affordability issues. · The RBA is the primary cause of initial runaway inflation. · The RBA is the primary cause of the correction to the economy, property prices and the skyrocketing mortgage distress that is already beginning to be seen and will increase dramatically in coming months. · The RBA is incompetent at its core. It does not need assessment and correction. · The RBA must be massively overhauled and the Governor and Board absolutely sacked publicly in disgrace. Once we get to appropriate intelligence and action on interest rates, then we can look to further policy resets to save the nation. These begin with, but are not limited to, immediate and permanent removal of the fuel excise tax. It is the most oppressive of working families, unfair and disproportionate regressive tax ever inflicted on the Australian people. It must go or working families will fall further behind and have to resort to less healthy food and activities just to survive. We in our ivory towers do not fully appreciate just how hard it is for many Australians right now, to just simply look after their families. This tax hurts the poor and barely registers with the rich. It must go! And one would think a Labor government would immediately recognise this to be the case. The survivability and fairness of the Australian economy is far more important than the excel spreadsheet revenue and budget. Adjustments to our energy policies, particularly gas, so that the Australian people and businesses can more directly participate in the natural wealth of our nation are also badly urgently required. If you know Treasurer Jim Chalmers, please pass this article on to him. Making such seismic shifts on the RBA, fuel excise and gas supply prices are the basic first steps for our economic sustainability through the fast arriving global slow-down and price shocks. Jim Chalmers, Treasurer of Australia Clifford Bennett ACY Securities Chief Economist. The view expressed within this document are solely that of Clifford Bennett’s and do not represent the views of ACY Securities. All commentary is on the record and may be quoted without further permission required from ACY Securities or Clifford Bennett. This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.

PBOC policy will stabilise growth, employment, and pricesWill strengthen implementation of prudent monetary policySome token remarks but as with all things related to China, the timing and context matters. In this instance, it is merely a wider airing of support for the economy after the government took up measures to bolster the local scene amid the lockdown restrictions that have hit hard in the past few months.

Prior -1.2%Market index 308.3 vs 315.5 priorPurchase index 224.1 vs 225.5 priorRefinancing index 751.6 vs 794.9 prior30-year mortgage rate 5.33% vs 5.46% priorMortgage activity declines further in the past week, signaling that sentiment from the housing market is continuing to deteriorate even if prices haven’t exactly come down significantly. The purchase index has fallen to its lowest since May 2020 with the refinancing index at its lowest since January 2019.

Inflation is a top priority for Biden, policymakers to addressKeeping California ports open is vital to not exacerbate supply chain issuesYellen was humble enough to admit earlier in the day that she was wrong about the inflation path, after having said that inflation only posed a „small risk“ last year. Her comments above aren’t anything major but this was what she said earlier:“As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn’t – at the time – didn’t fully understand, but we recognize that now.“

Gamestop Earnings Results

Gamestop revenue for the
quarter is: Stay tuned, coming tonight!
Gamestop EPS for the quarter
is: Stay tuned, will be updated tonight!
The key takeaways for Gamestop
Q1 2022 Quarterly Earnings Report are: Coming soon, after market close
today.

See also Gamestop’s
Investor Relations website and the recent Gamestop 2022 Proxy Statement

When
is Gamestop Earnings?

Gamestop is reporting today
after the normal trading hours. That is after market close (AMC) on Wed,
June 01, 2022. 
The name of this earnings
report is ‘Gamestop Q1 2022 Quarterly Earnings Report’ and it announces
the company’s business results for Nov 2021, Dec 2021 and Jan 2022. 
The name of the Gamestop’s next
earnings report is ‘Gamestop Q2 2022 Quarterly Earnings Report’ and it is
expected to be announced (unconfirmed) on 01 Sept, 2022, for the Quarter
ending Apr 2022.

Gamestop
Earnings and the Stock’s Expected Move

The options market is pricing a
19.5% move (up or down) for Gamestop Q1 2022 Quarterly Earnings.

 

Will
Gamestop Stock Go Up? Watch This Video by ForexLive.com

Gamestop Q1 2022 Quarterly Earnings
Report: A Different Technical Analysis Preview – Watch Video

Could another short squeeze be in the making for
Gamestop’s Q1 2022 Quarterly Earnings?

Gamestop keeps making the news and if you know
anyone who is even remotely social trading, you have probably heard about the GME
“MOASS” theory (mother of all short squeezes).

But before we get ahead of ourselves, let’s talk
real numbers.

Q4 2021 Earnings Recap

In 2021 many investors were wondering if
Gamestop knew what it wanted to be. The company’s Q4 earnings answered with a
sound yes.

Here are the major moves for GME for Q4 2021

Gamestop expanded their online
store and began featuring different products like TVs, PC components,
Toys, and so forth.
Gamestop also established major
partnerships, locking in deals with PC gaming giants like Corsair,
Alienware, and Lenovo, all of which contributed to the company’s sales
growth.
But the partnerships didn’t
stop there as GME moved into the cryptosphere by joining forces with
Immutable X and Loopring as development of the company’s marketplace
began.
Furthering GME commitment to
blockchain tech, the company hired experts in blockchain gaming, tech, and
ecommerce.
The roadmap for 2022 was also
laid out as Gamestop planned to expand its offerings as it began building
the Gamestop NFT Marketplace and the Gamestop Wallet. 
Gamestop generated net sales of
$2.254 billion, up from to $2.122 billion (Q4 2020), and $2.194 billion
(Q4 2019).
In terms of PowerUp rewards
membership, GME experienced a 32% growth on a yoy basis.
Gamestop also revamped its app.
GME’s new app is now more user friendly but also took strides in terms of
scalability, product catalog, and functionality. 

Gamestop 2021: some extra notes

Looking back at 2021’s fiscal year, GME
generated net sales of $6.011 billion, a staggering extra billion when compared
to 2020 ($5.090 billion). It also ended the fiscal year with $915 million in
inventory (up from $602.5 million in 2020).

Gamestop raised around than $1.67 billion in
capital and managed to eliminate all its long-term debt (other than a $44.6
million low-interest, unsecured term loan which is related to the COVID-19
response). 

Has the market been sleeping on GME? 

To many, Gamestop will forever be a meme
stock.  To those who follow the company’s move closer, however, Gamestop’s
transformation is looking better by the day.

GME has cash in hand, and it stopped being a
video game retailer a long time ago (and if you weren’t paying attention, the
company’s new hires, like the executives from Amazon, Apple, and Microsoft were
a major tell).

In terms of brand, Gamestop developed its image
way beyond the dusty old brick-and-mortar stereotype by betting on inventory
during a low inflation and low borrow fees environment, and by adding delivery
and fulfillment centers.

This move reflects GME’s commitment in meeting
demand and mitigating any supply chain setback that may come their way.

Moreover, the company diversified its revenue
streams by pivoting into stronger growth fields like the blockchain space.
Its marketplace move alone should be a solid growth driver going forward (to
contextualize, OpenSea’s valuation is an estimated $13 Billion alone).

Gamestop has cleaned up. It’s leaner, it has
cash in hand and nearly no debt. Its move into the cryptosphere and bet on the
$150 billion gaming industry can prove successful in the upcoming years. 

But as historical data has shown us, GME tends
to be volatile following its quarterly results. And while some still see it as
a bet, others see a lot of value which hasn’t been priced in.

Can we see another GME short squeeze?

It is important to understand that previous to
this earnings report, Gamestop’s borrow rates have been rising by the day.

The cost to borrow has gone up significantly
and, in tandem, GME’s utilization rate has been 100% for more than 70
consecutive trading days.

This means that there might not be any available
shares left to short and short sellers need to find other resources to continue
shorting if they so wish.

However, those elements alone might not be sufficient
to trigger a short squeeze.  Buying pressure must be added to the mix so
it will all be up to the GME earnings report. 

As such, we couldn’t say it better than Ryan
Cohen himself: you might want to buckle up.

ForexLive.com visitors were also previously
interested in:

GameStop Entering NFT and Cryptocurrency Markets
GameStop back at it again as pre-market trades up
18%

Prior 6.8%

The jobless rate in the euro area remains unchanged at a record low of 6.8%, reaffirming more solid labour market conditions in the region amid the recovery from the pandemic.

German policymakers have been pushing this proposal i.e. reinstating the ‚debt brake‘ for a while now and are spinning the inflation narrative to their favour. They are saying that the government needs to avoid spending that stokes inflation, namely long-term subsidies such as those for new homes or electric cars.It will be interesting to see how policymakers will try to balance all of that out as the economy is already starting to look like it is running into some troubling headwinds. Add to the fact that the inflation surge will stay for longer and energy prices in the region are burdening households considerably, it’s going to be a real challenge.

Cyprus’
iFX Expo is sounding better by the second as FxGrow
confirms its presence in this year’s edition.

From
June 7th to June 9th in Limassol, Cyprus, top level executives and leading
trading firms will get to meet, network, grow their businesses, and engage in
thought-out, meaningful content.

What
to expect at iFX Expo 2022?

IFX
Expo is the place to be as experts from various industries gather for the ultimate
global fintech collaboration.

From
Technology and Service Providers to Banks and Liquidity Providers. From Digital
Assets and Blockchain, Retail and Institutional Brokers, everyone that is
anyone will be there.

iFX
Expo’s long history of bringing together business in Europe, Asia, and the
Middle East, makes it the leading conference and flagship show which thousands
of top-level executives and other leading industry pioneers trust in.

With
unparalleled networking opportunities, incredibly insightful speaker sessions,
and great hospitality, it comes as no surprise that the event is one of the
highlights of the year.

And
as for FxGrow…

FxGrow,
one of the leading global trading platforms and top forex brokerage, will
certainly receive a very warm welcome following its outstanding year and well-deserved
nominations Ultimate Fintech Awards.

FxGrow
Award Nominations include: Broker of the Year, Best Global Broker, Most
Reliable Broker, and Best White Label Solution.

Show
your support and vote for FxGrow

Voting
starts on May 25th, and it is as easy as it gets. Simply register at

Awards

(registration is free for all Brokers and Non-Brokers) and choose FxGrow for
the following categories:

–      
BROKER
OF THE YEAR

–      
BEST
GLOBAL BROKER

–      
MOST
RELIABLE BROKER

–      
BEST
WHITE LABEL SOLUTION

Submit
your vote and you’re ready to go!

About
FxGrow:

FxGrow
ranks amongst the top global forex brokers
and has been consistently recognized as a one of the most reliable forex
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It
comes as no surprise that both top forex traders to just about anyone who
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The
company keeps paving the way for forex traders from the Middle East, Africa,
Europe, and all over the World by empowering its users with top-of-the-line
resources.  

In his three-part plan outlined yesterday, Biden said that he won’t meddle with the Fed:“First, the Federal Reserve has a primary responsibility to control inflation. My predecessor demeaned the Fed, and past presidents have sought to influence its decisions inappropriately during periods of elevated inflation. I won’t do this. I have appointed highly qualified people from both parties to lead that institution. I agree with their assessment that fighting inflation is our top economic challenge right now.“As such, it will be interesting to see what they will be discussing today. I mean, there is very little to be said if Biden is going to let the Fed do its job and he has no intentions to interfere. I guess he may seek for more clarification from Powell on the Fed’s plans but that could arguably be done over the phone.I’m inclined to believe that the meeting today has some element of being just for the optics. Let’s not forget, the US midterm elections is now roughly just five months away. Tick tock, tick tock.

ECB mandate is to stick with 2% inflation target in the medium-termWhat we can do is to gradually remove stimulusActions will be enough to accommodate to the mandateThere doesn’t seem to be much change to the narrative at least for now. The euro is keeping lower on the day though, down 0.7% against the dollar to 1.0700 currently. The 200-hour moving average at 1.0676 will be a key near-term level to eye for additional support as the dollar holds firmer on the day.