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The main contract of the Container Shipping Index (European line) rose by more than 5.00% during the day and is now at 1564.1 points.May 14th news, photomask (plate) is a mold required for the production of integrated circuits. It is a structure used for selective exposure of photoresist coatings. Its principle is similar to using negative film to copy images onto photos when developing photos. South Korean technology media The Elec reported today that Samsung Electronics is planning to outsource the production of photomasks required for memory chip manufacturing. It is said that Samsung has started the supplier evaluation process. Candidate companies include Tekscend Photomask, a subsidiary of Japans Toppan Holdings, and PKL, a subsidiary of the United States Photronics. The evaluation results are expected to be announced in the third quarter.On May 14, Morgan Stanley said that JD.com (JD.O) raised its revenue and earnings growth expectations for the group and retail business (JDR) to double digits in 2025, which is good for the stock price; but the takeaway business did not provide loss guidance, which may lead to further downward adjustment of earnings expectations for the rest of 2025. Analysts Eddy Wang and others said in the report that JD.coms total revenue is expected to increase by 13% year-on-year in 2025. The bank lowered its earnings forecasts for JD.com in 2025, 2026 and 2027 by 14%, 7% and 5% respectively to reflect the investment in the takeaway business. Maintain the "Equal Weight" rating and lower the target price of American depositary receipts to US$39.Futures news on May 14, oil prices continued to rise, operating confidence of fuel oil market players improved, refineries maintained shipment prices, downstream processing profits were low, enthusiasm for purchasing high-priced resources was not good, the market was dominated by supply and demand, and todays market is expected to have a slight increase at a low level, and will mostly stabilize after falling from a high level.Goldman Sachs said on May 14 that the likely direction of the USD/Asian currency pair is still down after the recent progress in trade negotiations. It said that despite the recent progress in trade negotiations between China and the United States, the main themes of the market have not changed. These themes are: the trend of gradually diversifying investments from US assets should continue; Asian exporters should continue to convert US dollars into local currencies; if the Asian region conducts trade negotiations with the United States, it may be more difficult for its currency to depreciate.

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.


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