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Strong recovery effort brings BWT Alpine F1 Team double points haul in Spain

Posted by FXMAG on May 23, 2022 at 4:31am 0 Comments

BWT Alpine F1 Team converted its lowly grid positions of twelfth and twentieth into seventh and ninth at the chequered flag after superb drives from Esteban Ocon and Fernando Alonso to bring home eight points from a scorching hot Spanish Grand Prix at the Circuit de Barcelona-Catalunya.

Esteban charged through the field early on to propel himself into points-scoring contention with home hero Fernando storming from last on the grid – as a result of an engine change – to ninth at the… Continue

Financial Markets Today: Quick Take – May 23, 2022

Posted by FXMAG on May 23, 2022 at 4:30am 0 Comments

Summary: US equities plunged to new cycle lows on Friday, but quickly found support at a major technical level and rallied back toward unchanged on the day, with some brightening in sentiment to start this week as well, though a rise in Covid cases in Beijing is driving fears of new lockdowns there. The focus this week is on whether sentiment can stabilize and whether the USD rally is done for now as the sell-off last week has extended into the start of this week. Gold has enjoyed the… Continue

"Cryptocurrencies have no value and are not based on anything." - said Christine Lagarde (ECB). Bitcoin Has Decreased By 3.6%, ETH Gone Down By 5.8%, XRP And ADA Declined As Well

Posted by FXMAG on May 23, 2022 at 4:30am 0 Comments

Bitcoin is down 3.6% over the past week, ending near $29,900. Ethereum lost 5.8%, while other leading altcoins in the top 10 fell from 5.4% (XRP) to 9.2% (Cardano). The exception was Binance Coin (+3.3%).

By Monday, the cryptocurrency fear and greed index is down 4 points to 10

According to CoinMarketCap, the total capitalisation of the crypto market has changed little over the past seven days at 1.29 trillion, as the decline at the beginning of the last week was largely… Continue

Recession fears sent S&P 500 briefly into bear market territory

Posted by FXMAG on May 23, 2022 at 4:29am 0 Comments

Summary: U.S. equity index futures rallied today in Asian trading after S&P 500 dipped into but finally avoided entering bear market territory at the close last Friday. Chinese equities, on the other hand, retraced from recent rally amid surge of COVID cases and partial lockdowns in five districts in Beijing.

What’s the big picture?

Investors have shifted their focus from the pace of Fed rate hikes and slowdown in the Chinese economy to the risk of a U.S. recession.… Continue
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