- The situation on Wall Street is improving despite a negative start. The US500 is reaching new historic highs, gaining 0.3%. The US100 is gaining 0.6%, but has not yet reached its highest levels in history.
- The ADP report showed a decline in employment of 33,000, compared to expectations of an increase of 100,000.
- After clearly weak data from the US, expectations for interest rate cuts are growing. During his comments in Sintra at the ECB Economic Forum, Powell signaled that a rate move could occur at any meeting. The market is currently pricing in more than two interest rate cuts this year.
- Data on US oil inventories showed a surprising increase of 3.84 million barrels per day, compared to expectations of a decline of 2.2 million barrels and a previous decline of nearly 6 million barrels. The reason for the increase in inventories may be a decline in exports to their lowest level since mid-2023.
- Oil reacted with a limited increase, but we are now seeing a rebound of almost 2.5%. The reason for the increase may be optimism about a potential trade agreement between the US and Vietnam.
- Under the agreement, according to Donald Trump, Vietnam will pay the US a 20% tariff on all goods shipped to the US and a 40% tariff on all transshipments, primarily from China. In return, Vietnam is to provide the US with full access to its trade markets (enabling zero-tariff trade of US products in Vietnam).
- Meanwhile, Hanoi is to confirm the long-discussed purchase of 50 Boeing aircraft worth $8 billion and existing agreements to purchase $2.9 billion worth of US agricultural products, according to the statement.
- Microsoft has announced further planned layoffs of 4% of its entire workforce, which is related to cost optimization in the face of large expenditures associated with the expansion of AI infrastructure. Microsoft has also announced its intention to reduce its dependence on Nvidia chips.
- According to the WSJ, Ripple is applying for a US banking license, following in the footsteps of other cryptocurrency companies towards traditional financial services.
- Sentiment in the broader crypto market is very good today. Bitcoin is up 3%, while Ethereum is up 6.6%.
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
