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July 13th - An article by Nick Timiraos, a vocal critic of the Federal Reserve, states that last month, Warsh, as Fed Chairman, chaired his first meeting as Chairman, where a unanimous decision was made to maintain interest rates. Reaching consensus at that time was easy because there was little desire to take action within the committee. However, maintaining that consensus will become more challenging in the coming weeks. Some of his colleagues have heightened concerns about inflation, and they may push for discussions on rate hikes when the Fed meets on July 28-29. Warsh will have the opportunity to guide this consensus when he testifies before Congress this week. At that time, he will have access to the latest June inflation data—one of the last batch of important data released before the meeting.The yield on Japans 5-year government bonds rose 0.5 basis points to 1.985%.July 13 - An explosion occurred near a US military base in Bahrain on July 13 local time. The Bahraini Ministry of the Interior stated that the air defense system has been activated.Euro Stoxx 50 futures fell 0.6%, DAX futures fell 0.7%, and FTSE futures dipped 0.1%.On July 13th, shares of memory chip maker SK Hynix plunged 10% in Seoul after its highly anticipated first day of trading in the US, dragging down the Korea Composite Stock Price Index (KOSPI). The company had risen 13% on Friday in the US. Jason Minsang Kam, head of active equity management at Seoul Kyobo Life Insurance, said the market had already priced in the gains in New York, and the stock could face significant profit-taking and arbitrage liquidation pressures during the session. SK Hynixs $26.5 billion US offering is widely seen as a bellwether for overseas listing demand and the sustainability of the artificial intelligence (AI) rally. As a major supplier of high-bandwidth memory (HBM) for Nvidias AI processors, SK Hynix has been closely watched by global investors. According to previous news reports, despite recent market concerns about overvaluation and high capital expenditure levels in the AI sector, the offering was oversubscribed by more than 7 times.

Trading Strategies

Just starting out? Begin your trading education with our Foundational Trading Knowledge course. Learn about a variety of markets like foreign exchange, commodities and equities and how they operate. Discover the right trading style for you and get to grips with key trading processes and market psychology.

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  • The Ascending Triangle: What is it & How to Trade it?

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