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The rupiah fell as much as 0.45% to 16,585 against the dollar, its lowest level since May 2.On May 14, Goldman Sachs said that after an internal analysis of Trumps social media posts on oil prices, it was found that Trump seemed to prefer to maintain WTI oil prices between $40 and $50 per barrel. Analysts such as Daan Struyven said: "Trump has always been very concerned about oil and US energy dominance. He has posted nearly 900 related tweets. Through analysis, we infer that his preference for WTI oil prices is around $40 to $50, which is also the range in which he talks about oil prices the least frequently." The prices of US and Brent crude oil are often affected by Trumps social media remarks. His comments range from OPECs production policy, US gasoline prices to sanctions on countries such as Iran. The report pointed out: "When WTI prices are above $50, Trump usually calls for price cuts (or welcomes the drop in oil prices); when oil prices are very low (below $30), he calls for higher oil prices, usually to support domestic oil and gas production in the United States."On May 14, HSBC published a report, raising the target price of JD Health (06618.HK) from HK$43 to HK$45, by 4.65%, and maintaining the investment rating of "buy". HSBC said that JD Healths revenue in the first fiscal quarter was RMB 16.6 billion, a year-on-year increase of 25% and a quarter-on-quarter increase of 1%. The adjusted operating gross profit margin was 7.9%, an increase of 2.2 percentage points from last year and 6.9 percentage points from the previous quarter, mainly due to the improvement in gross profit margin. The adjusted net profit margin was 10.6%, an increase of 1.6 percentage points/quarter-on-quarter from the same period last year. The bank currently predicts that JD Healths full-year revenue in 2025 will increase by 17.6% year-on-year to RMB 68.4 billion, which means that the second to fourth quarters of 2025 will increase by 15% year-on-year. The bank expects the full-year adjusted operating gross profit margin to be 4.8%, an increase of 3 percentage points from last year, and the non-GAAP net profit margin to be 7.6%, a year-on-year decrease of 0.6 percentage points.On May 14, according to media reports, Apple is deeply studying brain-computer interface technology and working with startup company Synchron to explore the possibility of controlling devices such as iPhone, iPad and Vision Pro through brain signals. This cutting-edge technology is expected to bring a new way of interaction to paralyzed patients and those with limited mobility. Synchron is a company that produces a stent-like implant called "Stentrode". The device contains 16 electrodes and is implanted into a mesh electrode array of the brains motor cortex blood vessels through the jugular vein. It can capture the movement intention signals emitted by the brain and transmit them to external devices wirelessly to achieve control without hand operation. Synchron integrates the above system with Apples switch control function to replace the input method. In a trial, Mark, a 64-year-old amyotrophic lateral sclerosis (ALS) patient, successfully controlled the Apple Vision Pro headset with his mind by implanting Synchrons brain-computer interface device. He can play card games, watch Apple TV programs and send text messages with brain signals alone without gestures or voice.Sources: Baidu (BIDU.O) will cooperate with PostAuto to launch a self-driving taxi service in Switzerland. Baidu also plans to test self-driving taxis in Türkiye.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.