Author: Daniel Chang
Daniel Chang
Daniel Chang's passion for finance and technology has driven his career in the financial markets. With a background in both quantitative analysis and market strategy, Daniel excels at breaking down complex market movements into actionable insights. He has worked with leading financial institutions and trading platforms, where he has contributed to the development of innovative trading tools and educational content.
The U.S. dollar is currently enjoying a three-week winning streak and is set for its biggest October gain in over ten years. However, analysts at Bank of America (BofA) believe this upward momentum is likely to fade soon. “We believe the USD rally is losing strength, and we have started to scale back,” BofA analysts stated in a report on Monday. The dollar index, which tracks the greenback’s performance against a basket of six major currencies, has risen by about 2.5% in October. This positions the dollar for its best monthly performance since September 2022 and its strongest October gains…
On Wednesday, most Asian currencies weakened as traders became more cautious due to uncertainty surrounding U.S. interest rates and the upcoming presidential election. Meanwhile, the U.S. dollar maintained its strength, reaching a near three-month high. Over the past two weeks, regional currencies have faced pressure as a resilient U.S. economy fueled expectations that the Federal Reserve will take a slower approach to cutting interest rates. The Japanese yen took a particularly hard hit, falling to its lowest level in nearly three months. Speculation about a Japanese general election and an upcoming Bank of Japan meeting also added pressure on the…
Tesla posted its third quarter results on Wednesday, exceeding Wall Street predictions thanks to stronger margins. The electric vehicle giant indicated it anticipates moderate growth in deliveries by year’s end, aiming to leave the so called “EV winter” behind. Tesla (NASDAQ: TSLA) saw its stock surge over 8% in after-hours trading following the announcement. For the third quarter, Tesla reported adjusted earnings of $0.72 per share on $25.18 billion in revenue, outperforming analyst expectations of $0.60 per share and $25.4 billion in revenue. A key driver behind the strong earnings was an increase in automotive sales, which rose to $20.02…
On Monday, the People’s Bank of China (PBOC) made a modest but somewhat larger than expected reduction to its benchmark lending rates as part of ongoing efforts to boost the country’s economic growth. The PBOC lowered the one year Loan Prime Rate (LPR) from 3.35% to 3.10%, slightly exceeding predictions that it would be reduced to 3.15%. The five year LPR, which influences mortgage rates, was cut to 3.60%, surpassing expectations for a reduction to 3.65%. The last time rates were adjusted was in July. The LPR is set by the PBOC in collaboration with 18 designated commercial banks and…
On Monday, Bank of America announced it has extended its guaranteed foreign exchange rates for up to one year the longest duration offered in the industry. This move aims to reduce risks in cross currency transactions as trading volumes continue to grow. By locking in a fixed foreign exchange spot rate, businesses can protect themselves from currency fluctuations and streamline key treasury functions like cash flow forecasting and reconciliation, the bank explained. “Volatile FX markets make cash flow forecasting increasingly challenging for corporate treasurers,” said Daniel Stanton, head of transactional FX in Bank of America’s global payments solutions. “Offering longer…
On Thursday, chip stocks experienced significant gains after Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s leading advanced chip producer, posted impressive earnings results, fueled by the growing demand in the AI sector. Nvidia (NVDA) shares rose 2.5% in premarket trading, while AMD (AMD) and Broadcom (AVGO) saw increases of 3% and 1.9%, respectively. Other major players in the semiconductor industry also followed suit. Intel (INTC) shares were up 1%, Qualcomm (QCOM) added 1.9%, and Micron Technology (MU) rose by 2.2%. TSMC reported a 54% surge in net profit for the July-September quarter, largely driven by AI related demand, with net…
Asian markets mostly advanced on Thursday, though gains in Chinese stocks were limited after a lackluster briefing on the country’s property market. Technology stocks saw a positive boost, with investors eagerly anticipating TSMC’s (TW:2330) (NYSE) upcoming earnings report, expected later in the day. The region took its cue from Wall Street, where a recovery in tech shares and upbeat earnings fueled a strong session on Wednesday. However, U.S. stock index futures edged lower during Asian trading, as the focus shifted to upcoming earnings and economic data. Chinese Stocks Struggle After Disappointing Property BriefingChina’s main indexes, the Shanghai Shenzhen CSI 300…
Goldman Sachs analysts have highlighted that the outcome of the upcoming U.S. election could significantly influence investment strategies, with many clients now factoring political developments into their market decisions. In a recent client note, Goldman Sachs suggested that if investors anticipate a Donald Trump victory in the presidential race and a Republican-controlled Congress, they should consider focusing on an index tracking stocks that typically perform well under Republican policies. On the other hand, if investors expect Kamala Harris and the Democratic Party to win in the November 5 election, the analysts recommend investing in the firm’s index that reflects Democratic…
According to a recent market analysis from Stifel, the S&P 500 is likely to climb before experiencing a significant downturn in 2025. Stifel’s strategists project a 10% rise in the index, potentially reaching around 6,400 points, followed by a steep drop next year. They predict the index could then fall by 26%, hitting approximately 4,700, a level close to where it started in early 2024. While optimism surrounds the U.S. economy and potential interest rate cuts from the Federal Reserve, Stifel analysts caution that the strong performance of growth stocks compared to value stocks could signal an upcoming bear market.…
Most Asian markets saw modest gains on Monday, though Chinese stocks were notably volatile following mixed signals from Beijing regarding its plans for fiscal stimulus. This comes as recent inflation data from China fell short of expectations. Trading activity across the region was subdued, partly due to a market holiday in Japan. Asian stocks took their cues from Wall Street, where both the S&P 500 and the Dow Jones reached record highs on Friday, supported by strong earnings reports from major U.S. banks. Investors this week will be focused on more third-quarter earnings and speeches from several Federal Reserve officials.…