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16 Aug 2023

UK headline inflation cooled sharply in July to an annual 6.8%, but the core consumer price index remained unchanged, posing a potential headache for the Bank of England

The headline CPI reading was in line with a consensus forecast among economists polled by Reuters, and follows the cooler-than-expected 7.9% figure of June. Despite the decline, UK inflation is still the highest among "advanced" economies (see upper chart below). On a monthly basis, the headline CPI decreased by 0.4% versus a consensus forecast of -0.5%. However, core inflation — which excludes volatile energy, food, alcohol and tobacco prices — stayed 6.9%, unchanged from June and slightly above a consensus forecast of 6.8%.

16 Aug 2023

Global Wealth declined by $11.3 trillion last year, the first annual drop since the Global Financial Crisis

Here are the biggest winners and losers Source: Barchart, Fortune

16 Aug 2023

China asks some Funds to avoid net equity sales as Markets sink

Chinese authorities asked some investment funds this week to avoid being net sellers of equities, as a rout in the nation’s financial markets deepened. Stock exchanges issued the so-called window guidance to several large mutual fund houses, telling them to refrain for a day from selling more onshore shares.

16 Aug 2023

Industrial Sector retesting recent breakout

Industrial Sector (XLI US) is retesting July's breakout level. Keep an if it can hold. Next major support level is 103-104 zone. Source : Bloomberg

16 Aug 2023

Coinbase Lands Regulatory Approval to Offer Crypto Futures Trading in US

Coinbase Financial Markets, Inc. announced this Wednesday that it has secured approvals from both the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). That means that the firm can now operate as a Futures Commission Merchant (FCM), and will therefore be able to offer investments in crypto futures to eligible customers in the United States.

Coinbase is now poised to be the pioneer in offering U.S. clients both traditional spot crypto trading and regulated crypto futures.

Source: Decrypt

16 Aug 2023

Health Care Sector pennant weekly pattern

Health Care Sector (XLV US) is in a consolidation pennant pattern since April 2022 ! Since 5 weeks, it's trying to breakout on the upside. Keep an eye on this level. Source : Bloomberg

16 Aug 2023

Materials sector retesting important level

Materials sector (XLB US) is retesting April 2022 resistance downtrend level. Keep an eye at this level for breakout confirmation. Source : Bloomberg

16 Aug 2023

European gas spikes on market jitters over LNG strike risk

European natural gas futures spiked for the second time in less than a week, with market tensions running high over the possibility of strikes in Australia that could severely tighten the global market.
Source: Bloomberg

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