UBS Rescues Credit Suisse, Fed Increases Dollar Liquidity , Gold Hits a One-Year High
In a deal brokered by the Swiss Government, UBS has bought troubled rival Credit Suisse in a deal worth just over three billion US dollars. Read More
UBS Agreed To Buy Troubled Rival Credit Suisse
<p data-testid=”paragraph-1″ class=”text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI text-align-start”>UBS agreed to buy rival Credit Suisse on Sunday, Reuters reported. UBS will pay 3 billion Swiss francs ($3.23 billion) and assume up to $5.4 billion in losses in a deal expected to close by the end of 2023.According to the Reuters report, In a sign of a coordinated global response, […]
Markets Week Ahead: Dow Jones, Nasdaq 100, Gold, US Dollar, Crude Oil, Fed, Powell
The Dow Jones greatly underperformed the Nasdaq as traders flocked to tech stocks in anticipation of aggressive rate cuts from the Federal Reserve later this year after SVB’s collapse. All eyes turn to the central bank and Jerome Powell’s press conference on Wednesday. Read More
US Dollar Outlook Hinges on Fed’s Next Steps. Will the FOMC Hike or Pause?
The US dollar’s trading bias will be defined by the Fed’s policy outlook next week. Traders should prepare for the possibility of a dovish guidance due to rising financial instability risks. Read More
Rand Dollar Outlook: USD/ZAR Pauses Ahead of National Shutdown & FOMC
The South African Rand has surrendered weekly gains after fears over the US banking system ease, supporting a resilient Dollar. USD/ZAR remains uncertain ahead of FOMC. Read More
Gold Prices Jump as Yields Slump, Sentiment Dismal as Bank Angst Lingers
Gold prices soar, rising to the highest level since early February, boosted by falling bond yields and risk-off mood as the U.S. banking sector woes fail to dissipate. Read More
WFE: Global Stock Market Lost $25 Trillion in 2022
<p>The market capitalization of the global stock market declined by 20% in 2022, wiping off about $25 trillion from the market, the World Federation of Exchanges disclosed in its latest report released on Friday. The value of the market also decreased by 10% last year, the report noted. </p><p>Both declines contradict the positive momentum gained two years earlier, WFE, a […]
GBP/USD Price Forecast: Cable Consolidates Above the 1.21 Handle
Cable enjoyed a strong bounce yesterday helped by improving sentiment and a weaker US Dollar. Weekly high around 1.2200 may cap gains ahead of a next week’s key data releases. Read More
Euro Latest: EUR/USD Pushes Higher on ECB Rate Hike Commentary
The Euro is pushing higher against a range of currencies as a group of ECB policy makers observe that inflation remains too high and that the central bank will have to hike interest rates further. Read More
US Stocks Rebound after Wall Street Puts its Money Where its Mouth is
US stocks responded favorably after assurances in the banking sector were put forward by the Federal Reserve, along with a show of confidence by large US banks Read More