WEEKEND PREP 25 JUNE
WAGNER REBELLION Wagner rebellion crisis in Russia averted! Who is the Wagner Group? The Wagner Group officially known as PMC Wagner ‘Wagner Private Military Company’, is a Russian paramilitary organization. It is seen as a private military company (PMC), a network of mercenaries and a de facto private army of Yevgeny Prigozhin, a businessman formerly with close ties to Russian President Vladimir Putin. It operates in support of Russian interests, […]
IN THE OVERNIGHT 23 JUNE
US Manufacturing PMI out today at 9:45AM Sea of RED -Slew of bad data from Europe TOP 5 STORIES OVERNIGHT Composite purchasing managers’ index drops to 47.3; est. 51 The French economy probably slumped in the three months through June, with purchasing manager indexes suggesting a 0.5% contraction from the previous quarter. “Prior to the […]
IN THE OVERNIGHT 22 JUNE
Rate hikes galore Pretty RED out there -China closed today and tomorrow TOP 5 STORIES OVERNIGHT BOE delivers surprise half-point rate hike to 5% — the highest in 15 years — with seven of nine policymakers voting in favor of the move Pound jumps above $1.28, FTSE 100 extends drop beyond 1%, gilts little changed […]
IN THE OVERNIGHT 21 JUNE
Mixed Markets -China markets hit hardest TOP 5 STORIES OVERNIGHT The German economy will contract more than previously expected this year as sticky inflation takes its toll on private consumption, the Ifo Institute said on Wednesday while presenting its forecasts. German gross domestic product is expected to fall by 0.4% this year, more than the 0.1% […]
IN THE OVERNIGHT 20 JUNE
Looking pretty RED out there TOP 5 STORIES OVERNIGHT The People’s Bank of China cut two more key lending rates on Tuesday for the first time in 10 months to prop up growth in the world’s second largest economy. The Chinese central bank cut the one-year loan prime rate by 10 basis points from 3.65% […]
WEEKEND PREP 18 JUNE
Be sure to sign up for my daily blog at placeyourtrades.com where I go over Asia in the overnight and market-moving stories! Moving on! The Federal Reserve pauses! Via Edward Jones: Prior Fed pauses on its policy rate have typically been accompanied by positive market performance. LAST WEEK’S DATA Let’s break last week’s data down […]
IN THE OVERNIGHT 16 JUNE
HAPPY TRIPLE WITCHING! SEA OF GREEN TOP 5 STORIES OVERNIGHT In the week ended June 14, investors added a net $16.18 billion to global equity funds, nearly offsetting the $17.69 billion in net selling observed just a week earlier, according to data from Refinitiv Lipper. Investors allocated $18.85 billion to U.S. equity funds and $723 […]
IN THE OVERNIGHT 15 JUNE
Jobless Claims 8:30AM ET Mixed Markets Asia, China ripping …Europe a sea of RED TOP 5 STORIES OVERNIGHT China’s Weakening Economy Puts Focus on Stimulus After Rate Cut-BBG China’s weakening economy prompted the central bank to cut interest rates for the first time since August, and expectations are growing for more stimulus targeted at ailing […]
IN THE OVERNIGHT 14 JUNE
HAPPY FOMC DAY!! Rate decision at 2:00PM ET! Presser 2:30PM ET Mixed Markets in Asia TOP 5 STORIES OVERNIGHT IEA raises 2023 demand growth forecast by 200,000 b/d India to overtake China as world’s second-largest oil consumer by 2027: IEA Global oil demand rises 6% to 105.7 million b/d through 2022-28 under the five-year forecast. […]
IN THE OVERNIGHT 13 JUNE
CPI DAY! 8:30 AM ET Sea of GREEN TOP 5 STORIES OVERNIGHT German CPI (M/M) May F: -0.1% (est -0.1%; prev -0.1%) – German CPI (Y/Y) May F: 6.1% (est 6.1%; prev 6.1%) German CPI EU Harmonised (M/M) May F: -0.2% (est -0.2%; prev -0.2%) German CPI EU Harmonised (Y/Y) May F: 6.3% (est 6.3%; […]