Market Insights

    Wall Street Expectations, $18B Buyback Approved
    Late on Monday, Nike Inc. released its quarterly earnings report that beat Wall Street forecasts and announced that its board had approved a new, $18 billion share buyback program. In addition, Nike reported that despite a Covid lockdown in China and a more challenging consumer environment in the U.S., demand for sneakers and sportswear remained primarily stable in the fiscal fourth quarter. However, the company said ongoing issues include escalating transportation prices and extended shipping times.
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    Oil prices skid as Biden pushes for U.S. fuel cost cuts
    U.S. President Joe Biden is urging refiners to cut fuel costs for consumers, amid which the cost of crude oil began to decline on Wednesday, June 22. Brent and WTI crude have recently lost up to $5 a gallon in anticipation of pressure from the U.S. government on the market. In addition, Biden called for a temporary repeal of the federal tax on each gallon of petrol. 📌
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    Federal Reserve raises interest rates by 0.75%, most since ‘94, in an effort to slow inflation
    The June two-day FOMC meeting ended with a projected 0,75% increase in the federal funds rate. This is the largest rate hike since 1994. At the same time, the Fed initially planned to raise the rate only by 50 basis points. The actual level of inflation and the economic situation require more decisive actions from the U.S. regulator.
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    What to expect at the June FOMC meeting?
    On Wednesday, June 15, there will be the expected FOMC meeting, and we will learn about the future monetary policy outlook for the United States. This is especially important against skyrocketing inflation and a declining stock market. 📌
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    $XAU/USD remains pressured as traders anticipate FOMC meeting
    Gold price ($XAU/USD) extended losses for a third straight session on Tuesday. Expectations of interest rate hikes in the United States and Europe due to the impending Federal Open Market Committee (FOMC) meeting on June 14-15 have caused a fall in demand for the precious metal.
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    Gold Price Forecast: XAUUSD in search of apparent direction as traders await NFP
    The U.S. Bureau of Labor Statistics (BLS) releases the Non-Farm Payroll (NFP) on the first Friday of each month. The statistics for May is set to be released at 12:30 GMT on June 3rd, 2022.
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    The Fed's Quantitative Tightening Has Arrived: What That Might Mean for Markets
    The U.S. financial regulator has moved to tighten monetary policy, which should put pressure on the stock market. It first became known about it a month ago, but now the Fed has moved to decisive action, starting in June 2022.
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    Oil prices rally to a two-month high as summer driving season beacons.
    Oil prices rose 3% to a two-month high on Friday following the prospect of an EU ban on crude imports from Russia and the impending US summer driving season. Brent crude is now set for its biggest weekly jump in six weeks.
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    Oil Climbs on Tight Supply
    The price of Brent (#OIL_K2) crude futures in July 2022 continue to rise despite the lack of agreement in Europe on the embargo of commodities from Russia. This happens against the background of data on the reduction of oil reserves and the continuation of the energy crisis in the world.
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    Balenciaga Stores in New York and Beverly Hills to Accept BTC and ETH
    According to Bitcoinist, Balenciaga stores in New York City and Beverly Hills will begin accepting payments in Bitcoin (#BTCUSD) and Ethereum (#ETHUSD). The option will be available at the brand's flagship stores on Madison Avenue in NY and Rodeo Drive in BH. In addition, clothing at Balenciaga will also be available for tokens.
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    PayPal looks to embrace all possible crypto and blockchain services
    The popular world-known payment service provider, PayPal, has announced plans to embrace all possible crypto and blockchain services.
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    Markets get shaky right after the 6 May NFP release
    In April, Nonfarm Payrolls (NFP) in the US rose by 428,000, surpassing the forecasted figures.
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