The Bloomberg agency has reported that Russia has “defaulted on its foreign currency sovereign debt for the first time in a centurywhich is the culmination of increasingly harsh Western sanctions that have closed the avenues of payment to foreign creditors”. For months, the country found ways around the sanctions imposed after the Kremlin’s invasion of […]
Tag: Equities
S&P 500: December target lowered to 3,900 – UBS
The more aggressive line of central banks adds to the headwinds of economic growth and equities. UBS economists have lowered their forecast for the S&P 500 to 3,900 points for December. Euro Stoxx December target cut 15% to 3,400 “We now anticipate a Smallest ride up for stocks this year, as slowing economic growth weighs […]
Forex Today – Asian Session: Cooling Yields Hit Dollar
What to watch for on Friday, June 17: Central banks triggered the panic, but the US dollar was unable to take advantage of the panic scenario, ending the day with losses against most major rivals. The Swiss National Bank surprised markets with an unexpected 50 basis point hike, while the Bank of England moved as […]
S&P 500 could fall to 3,150 points if there is a recession – Goldman Sachs
David Kostin, an equity strategist at Goldman Sachs, outlines various scenarios for the S&P 500 Index, and predicts that it will continue to fall to 3,150 points. Key comments “Base-case forecast valuation is expected to remain roughly flat as earnings growth takes the strain and pushes the S&P back to 4,300 by the end of […]
S&P 500 to sink to 3,400 on negative earnings revisions – Morgan Stanley
Will earnings growth accelerate? Although markets expect an acceleration in earnings growth and a corresponding rise in valuations over the next year, there are risks to this outlook.according to Mike Wilson, chief investment officer and chief US equity strategist at Morgan Stanley. US stocks in the midst of a bear market rally “Valuations are now […]
Forex Today – Asian Session: Dollar Resumes Advance as Fears Return
What to watch for on Thursday, June 2: The US dollar rose during US trading hours as stocks fell and yields advanced. The catalyst was a mix of upbeat US data boosting the USD and concerns about an upcoming recession. Attention turned to inflation and growth, and whether policymakers would tighten their monetary policies further. […]
Forex Today – Asian Session: A Soft Start to a Busy Week
What to watch for on Tuesday, May 31: The dollar remained under pressure on the first trading day of the week, falling against most major rivals. However, the USD/JPY pair rose amid better tone in equity markets. The better mood was brought about by China, as Shanghai announced it would begin lifting shack-related restrictions this […]
Forex Today – Asian Session: Risk Appetite Flows Weighed on the Dollar
What to watch for on Friday, May 27: The US dollar attempted a modest recovery early on Thursday but ended the day with losses against most major rivals. Weak US data and a rally in equities helped safer rivals. The second estimate of US Q1 Gross Domestic Product growth was revised down to -1.5%, worse […]
Forex Today – Asian Session: Dollar Remains Bearish
What to watch for on Wednesday, May 25: The US dollar remained weak on Tuesday, despite a sour market mood. The EUR/USD pair surged past 1.0700 as ECB officials promised a 50 basis point rate hike. The GBP/USD pair, however, fell after softer-than-expected local data and ended the day at the 1.2520 area. S&P Global […]
Forex Today – Asian Session: Dollar Continues to Lose Ground
What to watch for on Tuesday, May 24: The dollar weakened on the first trading day of the week, amid a better market mood. US President Joe Biden said he is studying the possibility of reducing tariffs on Chinese imports, which could save up to 80 billion dollars in taxes for the country. Biden also […]
