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Wells Fargo Strategist: Rising Intervention Risks Suggest Tactical Short on USD/JPY
Wells Fargo strategists point out that the macro environment is increasingly favorable for Japanese authorities to take intervention measures to support the yen, recommending a tactical short on USD/JPY in the coming weeks. "The current market environment is quite attractive, with the U.S. approaching holidays and the long positions in USD/JPY being overly crowded. Additionally, recent interactions between U.S. and Japanese officials indicate that the Ministry of Finance and the Bank of Japan have received the green light for intervention," wrote Wells Fargo macro strategist Erik Nelson on Thursday. Wells Fargo recommends selling USD/JPY with a target of 155.80 and a stop-loss at 163.20. For the dollar to strengthen further, "the Fed would need to raise rates in July, which we believe is a very high threshold," Nelson said. (Bloomberg)
Wells Fargo strategists point out that the macro environment is increasingly favorable for Japanese authorities to take intervention measures to support the yen, recommending a tactical short on USD/JPY in the coming weeks. "The current market environment is quite attractive, with the U.S. approaching holidays and the long positions in USD/JPY being overly crowded. Additionally, recent interactions between U.S. and Japanese officials indicate that the Ministry of Finance and the Bank of Japan have received the green light for intervention," wrote Wells Fargo macro strategist Erik Nelson on Thursday. Wells Fargo recommends selling USD/JPY with a target of 155.80 and a stop-loss at 163.20. For the dollar to strengthen further, "the Fed would need to raise rates in July, which we believe is a very high threshold," Nelson said. (Bloomberg)
U.S. Stocks Continue to Rise in Early Trading, Dow Hits Another All-Time High, Space Stocks Soar
BlockBeats News, July 2nd, according to BIT (bit.com) market data, the US stock market surged in early trading, with the Dow rising nearly 1% to hit a record high, while the Nasdaq and S&P 500 indexes rose over 0.7%. Space sector stocks saw across-the-board gains, including:
SpaceX (SPCX) rose by 2.08% to $160.809;
Virgin Galactic (SPCE) rose by 6.08%;
AST SpaceMobile (ASTS) rose by 4.12%;
Rocket Lab (RKLB) rose by 6.22%;
Redwire (RDW) rose by 6.43%.
BlockBeats News, July 2nd, according to BIT (bit.com) market data, the US stock market surged in early trading, with the Dow rising nearly 1% to hit a record high, while the Nasdaq and S&P 500 indexes rose over 0.7%. Space sector stocks saw across-the-board gains, including:
SpaceX (SPCX) rose by 2.08% to $160.809;
Virgin Galactic (SPCE) rose by 6.08%;
AST SpaceMobile (ASTS) rose by 4.12%;
Rocket Lab (RKLB) rose by 6.22%;
Redwire (RDW) rose by 6.43%.
Fed's Daly: Avoiding Hasty Reactions Amid Rapid Global Changes
On July 2, Fed's Daly stated that efforts should be made to obtain better inflation data whenever possible. Attention should be paid to improved inflation and labor data, but the targets should not be altered. In a rapidly changing world, there is a desire to avoid hasty reactions. I am a gradualist and prefer to proceed slowly.
On July 2, Fed's Daly stated that efforts should be made to obtain better inflation data whenever possible. Attention should be paid to improved inflation and labor data, but the targets should not be altered. In a rapidly changing world, there is a desire to avoid hasty reactions. I am a gradualist and prefer to proceed slowly.
Cailiao
White House economic adviser Hassett responds to Intel stockholding issue: This is an extreme case
Odaily reported that the White House economic adviser Hassett, when discussing the issue of holding shares, stated that Intel's situation is special and constitutes an extreme case, and they are discussing profit sharing with all artificial intelligence companies. (Golden Ten Data)
Odaily reported that the White House economic adviser Hassett, when discussing the issue of holding shares, stated that Intel's situation is special and constitutes an extreme case, and they are discussing profit sharing with all artificial intelligence companies. (Golden Ten Data)
Oil prices return to pre-conflict levels, market optimism faces geopolitical realities
Bitget CFD Chief Analyst: Nonfarm payroll data may determine the Federal Reserve's interest rate hike path
BlockBeats news, on July 2, today, Bitget CFD Chief Analyst Lewis Huang pointed out in an online livestream titled "Non-farm Payrolls Released: Unpacking Labor Market Data" that this non-farm payroll data is crucially directional for the current financial markets. He emphasized that since Kevin Warsh took office, his policy stance has consistently been guided by a strong hawkish tone; against the backdrop of persistently high inflationary pressures, the market's concern about the risk of renewed U.S. rate hikes is sharply increasing, which makes this release of non-farm payrolls particularly important.
Regarding the potential impact of this data, Lewis Huang stated that the market currently generally expects the number of new non-farm payroll jobs to be about 115,000, still weaker than the previous figure of 172,000. However, this is an extremely sensitive game of expectations: if this non-farm payrolls data significantly exceeds expectations, it will directly confirm the resilience of the labor market and further trigger a clearer Fed intention to raise interest rates; conversely, if the data falls far below expectations, the market may quickly turn sentiment and increase bets on rate cuts. He advises CFD traders to closely monitor the difference between market expectations before and after the data release, to implement strict risk management, and to flexibly capture long and short trading opportunities amid sharp volatility.
BlockBeats news, on July 2, today, Bitget CFD Chief Analyst Lewis Huang pointed out in an online livestream titled "Non-farm Payrolls Released: Unpacking Labor Market Data" that this non-farm payroll data is crucially directional for the current financial markets. He emphasized that since Kevin Warsh took office, his policy stance has consistently been guided by a strong hawkish tone; against the backdrop of persistently high inflationary pressures, the market's concern about the risk of renewed U.S. rate hikes is sharply increasing, which makes this release of non-farm payrolls particularly important.
Regarding the potential impact of this data, Lewis Huang stated that the market currently generally expects the number of new non-farm payroll jobs to be about 115,000, still weaker than the previous figure of 172,000. However, this is an extremely sensitive game of expectations: if this non-farm payrolls data significantly exceeds expectations, it will directly confirm the resilience of the labor market and further trigger a clearer Fed intention to raise interest rates; conversely, if the data falls far below expectations, the market may quickly turn sentiment and increase bets on rate cuts. He advises CFD traders to closely monitor the difference between market expectations before and after the data release, to implement strict risk management, and to flexibly capture long and short trading opportunities amid sharp volatility.
Mike Selig: Illinois’ Crypto Sin Tax Legislation Threatens Chicago’s Financial Position
Non-Farm Data and Waller's Recent Remarks Boost Gold Prices
On July 2, lower-than-expected U.S. non-farm employment data lifted gold prices, which are currently up 2% after a slight decline before the report was released. According to the U.S. Bureau of Labor Statistics, only 57,000 non-farm jobs were added in June, significantly below analysts' previous forecast of 115,000. This unexpected data drove up stock and commodity prices, alleviating market concerns about future interest rate hikes. Remarks from Federal Reserve Chair Waller also eased worries about interest rates. The most actively traded silver also rose, increasing by 4%.
On July 2, lower-than-expected U.S. non-farm employment data lifted gold prices, which are currently up 2% after a slight decline before the report was released. According to the U.S. Bureau of Labor Statistics, only 57,000 non-farm jobs were added in June, significantly below analysts' previous forecast of 115,000. This unexpected data drove up stock and commodity prices, alleviating market concerns about future interest rate hikes. Remarks from Federal Reserve Chair Waller also eased worries about interest rates. The most actively traded silver also rose, increasing by 4%.
Microsoft mobilizes 6,000 employees to help customers adopt artificial intelligence
Golden Ten Data reported on July 2 that Microsoft (MSFT.O) is establishing a new department with 6,000 employees aimed at assisting enterprises with the technical and strategic aspects of AI deployment. Microsoft stated that staff in this department will have extensive experience in engineering, corporate training, and management, as well as specialized knowledge in specific industries. Judson Althoff, Microsoft's Chief Commercial Officer, said closer collaboration with clients will help them implement AI more efficiently and provide reference points for Microsoft's own product development decisions.
Golden Ten Data reported on July 2 that Microsoft (MSFT.O) is establishing a new department with 6,000 employees aimed at assisting enterprises with the technical and strategic aspects of AI deployment. Microsoft stated that staff in this department will have extensive experience in engineering, corporate training, and management, as well as specialized knowledge in specific industries. Judson Althoff, Microsoft's Chief Commercial Officer, said closer collaboration with clients will help them implement AI more efficiently and provide reference points for Microsoft's own product development decisions.