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European Central Bank President Christine Lagarde will speak in ten minutes.February 24th - Keybanc analysts stated that increased chip shipments by Nvidia (NVDA.O) could drive strong results and guidance in its upcoming quarterly report. Analysts expect both Blackwell Ultra chip and rack shipments to increase as Nvidia is projected to ship nearly 30,000 racks this year. The analysts also noted that Nvidias H200 chip shipments to China could generate substantial revenue, expected to contribute $3.5 billion to $4 billion in the fourth quarter.Dominican Republics power company: The Dominican Republic is experiencing widespread power outages.The German DAX 30 index closed down 258.99 points, or 1.03%, at 24,987.81 on Monday, February 23; the UK FTSE 100 index closed down 8.14 points, or 0.08%, at 10,678.75 on Monday, February 23; the French CAC 40 index closed down 18.32 points, or 0.22%, at 8,497.17 on Monday, February 23; European... The Stoxx 50 index closed down 16.66 points, or 0.27%, at 6114.65 on Monday, February 23; the Spanish IBEX 35 index closed up 123.20 points, or 0.68%, at 18287.30 on Monday, February 23; and the Italian FTSE MIB index closed up 213.52 points, or 0.46%, at 46686.50 on Monday, February 23.February 24th - According to sources familiar with the matter, PayPal (PYPL.O) is attracting acquisition interest from potential buyers after its stock price plummeted, wiping out nearly half of its market value. The sources said the San Jose, California-based company has met with several banks among those who have proactively approached it. At least one major competitor is considering a full acquisition, while other potential buyers are only interested in certain parts of PayPals assets. The sources cautiously stated that the acquisition interest is still in its early stages and a deal is not guaranteed. Founded in the late 1990s, PayPal is a pioneer in digital payments. However, the company is currently struggling, with its customers increasingly turning to other payment methods. Over the past 12 months, PayPals stock price has fallen by approximately 46%, and the companys market capitalization is approximately $38.4 billion. PayPals stock briefly triggered a trading halt during the day but has since resumed trading, with the stock price now up by 8%.

US Dollar/JPY Yields May Fall Below 131,000 Ahead of Vice President Joe Biden's SOTU Address

Daniel Rogers

Feb 08, 2023 14:39

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At 130.90, the USD/JPY is under pressure, extending yesterday's decline from the highest level in a month. In doing so, the Yen pair tracks the recent decrease in US Treasury bond yields despite a dismal start to Tokyo trading on Wednesday. In recent times, geopolitical concerns have combined contradictory Japan data and Fedspeak to weigh on the market.

 

At the time of publication, rates on 10-year US Treasury notes reversed a three-day increase while retreating from a one-month high of approximately 3.68 percent to 3.67%. The US Dollar Index (DXY) has fallen for the second consecutive day to approximately 103.30. In spite of this, S&P 500 Futures exhibit minor losses, mirroring Wall Street and reflecting a negative sentiment.

 

Japan's trade deficit decreased to -1,225.6B from -1,814.6B expected and -1,537.8B earlier, while the Current Account balance decreased to 33.4B from -1,803.6B and 98.4B.

 

President of the Federal Reserve Bank of Minneapolis Neel Kashkari told CNN, "We may have to maintain higher interest rates for a longer period of time," adding that he does not anticipate a recession. Jerome Powell, chairman of the Federal Reserve, then declared, "Expect 2023 to be a year of large declines in inflation," adding that if data continued to come in better than anticipated, he would certainly boost rates further.

 

Notably, optimism surrounding the Japanese government's wage negotiations with labor leaders in March appears to have fuelled optimism at home. However, China's denial of the Pentagon's request maintains the geopolitical tension at a high level.

 

Traders of the USD/JPY pair should rely on Bank of Japan (BoJ) discussions to target more losses, especially in light of recent hawkish concerns surrounding the Japanese central bank. Today's State of the Union (SOTU) speech by United States Vice President Joe Biden will also be vital to follow. Reuters said prior to the event, "US Vice President Joe Biden will face Republicans who question his legitimacy and a public apprehensive about the country's direction during Tuesday's State of the Union address, which is expected to serve as a blueprint for a 2024 re-election attempt,"


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