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Novo Nordisk on Tuesday received a broker downgrade, with the analysts arguing that its status as a duopoly in both diabetes and weight loss are under threat.
China’s Trade Balance for January-February, in Chinese Yuan (CNY) terms, arrived at CNY1.5 trillion, widening from the previous figure of CNY808.80 billion.Exports climbed 19.2% YoY in January-February vs. 5.2% in December. The country’s imports rose 17.10% YoY in the same period vs. 4.4% recorded previously.In US Dollar (USD) terms, China’s Trade Surplus expanded more than expected in January-February.Trade Balance arrived at +213.62B versus +179.60B expected and +114.10B prior.Exports (YoY): 21.8% vs. 7.1% expected and 6.6% last.Imports (YoY): 19.8% vs. 6.3% expected and 5.7% previous.Market reaction to China’s Trade BalanceAUD/USD holds losses around 0.7055 in an immediate reaction to the Chinese trade data. The pair…
“My low salary requires me to have multiple other part-time jobs.”
MUFG’s Senior Currency Analyst Lee Hardman notes that the surge in Oil prices linked to the Middle East conflict is reinforcing US Dollar strength, especially versus high-yielding emerging market currencies. He highlights that weaker US labour data would normally weigh on the Dollar, but the energy shock and hawkish repricing in rates are instead supporting USD within its 96.000–100.00 index range.Oil-driven risk backdrop underpins Dollar”The US dollar has continued to strengthen against other major currencies with the dollar index moving towards the top of the 96.000 to 100.00 trading range that has been in place since Q2 of last year.””US…
The findings have been tested in the real world.
During an address broadcast by Iranian state TV, President Masoud Pezeshkian apologised to the neighbouring countries for attacks launched following US-Israel strikes but asserted that Tehran will not strike “unless they attack first”.Key quotesI must apologise on my own behalf and on behalf of Iran to the neighbouring countries that were attacked by Iran.The interim leadership council agreed yesterday that no more attacks will be made on neighbouring countries and no missiles will be fired unless an attack on Iran originates from those countries.Tehran would “not surrender” to US President Donald Trump’s demands of “unconditional surrender”.The comments come after Iran launched attacks…
“He has no loyalty to me or our vows.”
Highlights include US and China inflation, UK GDP, China Trade and CBRT UK GDP Growth MON: Eurogroup Meeting, Chinese Inflation (Feb), Japanese GDP Final (Q4),Japanese Average Cash Earnings (Jan) TUE: EIA STEO, Chinese Trade Balance (Jan-Feb), German Trade Balance (Jan) WED: OPEC MOMR, US CPI (Feb) THU: CBRT Policy Announcement, IEA OMR,US PPI (Feb) FRI: UK GDP (Jan), US PCE (Jan), US GDP 2nd Est (Q4), US JOLTS (Jan), Fitch on Italy & Spain, Moody’s on Germany & Greece CHINESE INFLATION (MON): February CPI is expected to rebound modestly to around 0.4-0.5% Y/Y (prev. 0.2%), with the M/M reading seen…
Vertiv, Lumentum, Coherent and EchoStar are the newest entrants to the S&P 500.
ING economists Lynn Song and Min Joo Kang expect China’s February CPI inflation to pick up to 1.0% year-on-year, mainly due to Lunar New Year effects, while the impact of higher Oil prices should appear later. They also project solid growth in exports and imports over the first two months, resulting in a larger trade surplus.Lunar New Year to lift CPI”China will release its CPI inflation data for February next Monday. We are expecting CPI to rise to 1.0% year-on-year thanks to a boost from the Lunar New Year effect. The impact of higher oil prices from the Middle East…