Firering Strategic Minerals: From explorer to producer. Watch the video here.
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European stock indexes declined in premarket trading on Wednesday as concerns about the banking sector re-emerged after a report claimed First Republic Bank is struggling to find a feasible solution for its financial issues, causing its shares to plummet over 40%.
The FTSE 100 lost 0.34% at 7:15 am CET, the DAX fell 0.46%, the CAC 40 slid 0.60% and the Euro Stoxx 50 was down 0.65% at the same time.
The euro added 0.08% against the dollar to sell for 1.09820 at 7:17 am CET and the pound rose 0.15% compared to the US currency to go for 1.24267 at the same time.
Baha Breaking News (BBN) / NP
Happy hump y’al
Crypto is up too-
If the last low was 99p,how can it's next leg start here at 107p ?!!!!!!!!!!!!!!!!.Another thing,does the U.S. jobless figures really make that much difference to these shares on a short or long term basis ?.
US jobless data is just one of the many pieces of data that impacts markets and gold/silver etc. It's impact is generally less than say NFP monthly data (unless wildly an outlier), but, like another data, it's impact depends on the state of any other data released at the same time and/or the state of many any data points at the time of release.
As always- life is never as simple as your question requests alas.
Just watch the sinking of the US$...term : dedollarisaton
Bah.
Don't be drawn into the narrative by gold bug delusionists who say China is rising up into some global leader - especially its rate controlled (pegged) currency which stands unmoved at just over 2% of global payments according to SWIFT. https://www.swift.com/
Indeed the yuan's share of cross border payments rose to a 13 year high but dig deeper into the why and you'd see the ratio is based on the volume of all types of transactions, which includes security trading thru mainland and Hong Kong capital markets . It doesn't represent transactions used by the rest of the world i.e. sales of goods and services which in the real world contribute to GDP numbers.
China is a communist wasteland of economic manipulation that for some reason appeals to gold bug aficionados who are waiting eternally and joyfully for the demise of capitalism - ironically to their own doom should it ever happen.
A related story:
PUBLISHED APRIL 25, 2023
Ontario Teachers' Pension Plan (OTPP), #Canada's 3rd largest pension fund, closed down its #China equity investment team based in Hong Kong last week
The Hong Kong’s Securities and Futures Commission (SFC) website shows licenses of five employees of the C$247-billion($182-billion) pension fund were revoked on April 18.
The staff were with OTPP’s proprietary trading team in Hong Kong, covering Greater China stocks, two of the sources said.
The decision comes amid growing tensions between China and the West and a challenging equity investment environment due to the rising global interest rates. It also comes as more foreign investors trim their China exposure amid persistent geopolitical risks.
https://www.theglobeandmail.com/business/article-ontario-teachers-pension-plan-has-closed-down-its-china-equity/
If you aren't convinced look at Xi's resent visit with Putin. What world leader coddles up to and praises the closest thing to Hitler 2.0 we've seen since WW2 ? China can go F itself.
Kitco.Investors pile into cash,but snap up Chinese stocks in tricky markets .Well worth a read.
Have a good enjoyable weekend all.
https://thecradle.co/article-view/24080/de-dollarization-kicks-into-high-gear
FILE PHOTO: The sign of Beijing Stock Exchange is seen at its entrance during an organised media tour, in Beijing, China February 17, 2022. REUTERS/Florence LoReuters
LONDON (Reuters) - Uncertainty over the economic outlook and the banking sector prompted investors to move money back into cash and gold in the week to Wednesday, according to BofA Global Research.
But the current environment is tricky to trade, as evidenced by a push into perceived risky assets such as tech stocks and the largest inflows into Chinese equities in well over a year, BofA's note, which cited data from EPFR, said on Friday.
There were $52.3 billion of inflows to cash funds in the week, a resumption of inflows after one-off outflows a week earlier, and also $200 million of inflows to gold.
There have been $634 billion of inflows into cash in the year to date compared to $11 billion for the whole of 2022.
Meanwhile, in the week to Wedensday there were $6.1 billion of inflows to Chinese equity funds, the most since January 2022, and $1.2 billion of inflows to tech funds, the most since November 2022.
"Under the surface it's starting to get scary, but we all know what the Big Tech horsemen can do to P&L before we blow up," BofA said.
Stronger-than-expected earnings from big tech and growth companies this week including Alphabet Inc, Microsoft Corp and Meta Platforms Inc have supported markets despite jitters in the U.S. banking sector. [.N]
Meanwhile, Chinese stocks have been rising this week, ahead of an expected record-high travel rush over the Labour Day holiday, as fears around geopolitical tensions eased a touch and markets rebounded from last week's dips after data showed an uneven economic recovery. [.SS]
BofA also flagged the ever louder shouts of recession from U.S. yield curves, noting that the for the first time since 1981 every U.S. yield curve has been inverted for over six months
It also said the current 170 basis point gap between the U.S. 3-month and 10-year yield had been exceeded on just 125 days in the past 100 years.
(Reporting by Alun John; Editing by Amanda Cooper and Mark Potter)
https://money.usnews.com/investing/news/articles/2023-04-28/investors-pile-into-cash-but-snap-up-chinese-stocks-in-tricky-markets
Copyright 2023 Thomson Reuters.
Tags: funds, United States, Europe
"In a Sun Tzu 2.0 environment, it is no wonder the Russia-China strategic partnership exhibits no intention of interrupting the enemy when he is so busy defeating himself."