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U.S. Dollar Rally

Published 07/09/2022, 14:50
Updated 07/09/2022, 15:42
U.S. Dollar Rally

Good Morning Everyone!

Good Morning Everyone! Remember, the most important meme stock on the planet reports today. Here's what analysts are saying about GameStop (NYSE:GME):

SELL: 3 Wall Street Banks

HOLD: 1 Wall Street Banks

BUY: 12.5 million Wallstreetbets Apes

Prices as of 4 pm EST, 9/6/22; % YTD

MARKET UPDATE Conference Season has begun (Goldman & Barclays (LON:BARC) today)

  • Some pre-announcements from conferences but certainly not all

  • Newell Brands (NASDAQ: NWL) negatively pre-announced

  • Church & Dwight (NYSE: CHD) top line guidance cut

10yr 3.3%

  • 2 p.m. Fed Beige Book

  • Whisper number for the September 21 FOMC meeting is now 75-point hike

  • This shift from 50 to 75 points is helping drive the U.S. dollar higher

U.S. dollar to:

  • Euro 1.01

  • Yen 144.8

  • British pound 0.87

  • Canadian 1.32

Crude 86 (-1%)

  • U.S.

    • Joe Manchin’s plan to fast-track federal approvals of energy projects heads to Congress this month

  • China

    • China Trade was weaker in August with both imports and exports coming in below consensus.

    • China’s crude oil imports were 9.5 mm bbl, down 9.4% y-o-y

  • Russia

    • President Putin said that Russia would not supply crude oil, refined products or natural gas to any countries that introduce price caps on Russian Commodities

Apple (NASDAQ: NASDAQ:AAPL)

  • 1 p.m. iPhone 14 launch

CRYPTO UPDATE Binance vs. USDC

  • Binance will stop supporting stablecoin USDC

  • USDC = world’s 2nd largest stablecoin

  • BNB (Binance stablecoin) = 3rd largest

Yesterday’s sell-off sparked highest BTC liquidations since August 2018

BTC’s (CRYPTO: BTC) put/call ratio is elevated while ETH’s (CRYPTO: ETH) is moving down

These are the tickers dominating the news headlines:

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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