Musk offers to buy out Twitter

“Success is often achieved by those who don’t know that failure is inevitable.” – Coco Chanel

 

 

HEADLINES

 

 

• Dollar gains on euro as ECB seen in no rush to hike rates
• Gold on course for weekly gain as Ukraine, inflation boost safe-haven bids
• Oil prices fall as market weighs mixed supply signals
• Analysis: As Fed tightens up, U.S. stock investors play defense on options market
• EUR/USD not ready for primetime, EUR/CHF has likely bottomed – TDS
• AUDUSD Near Term: Upside favored

 

 

FOREX

 

 

Dollar gains on euro as ECB seen in no rush to hike rates

 

The dollar gained on the euro Thursday, as comments from European Central Bank chief Christine Lagarde were taken as a sign that the bank was in no rush to raise interest rares.

The European Central Bank will only start raising interest rates “some time” after it has ended its net asset purchases, ECB President Christine Lagarde said.

Earlier, the ECB concluded its latest meeting with cautious steps to unwind support and avoided a hard schedule. It confirmed the direction of travel with few specifics beyond the coming months.

 

 

COMMODITIES

 

 

Gold on course for weekly gain as Ukraine, inflation boost safe-haven bids

 

Gold inched lower on Thursday but prices were set for a second consecutive weekly gain as the Ukraine crisis and broadening inflationary pressures lifted the safe-haven metal’s appeal.

The metal has gained more than 1% so far in the week, with markets closed on Friday for a holiday.

Gold at this moment is trending and it’s supported mainly by what we have heard from the Fed, the U.S. inflation (data)

 

Oil prices fall as market weighs mixed supply signals

 

Oil prices slipped on Thursday in thin trade ahead of a public holiday, as traders weighed a larger-than-expected build in U.S. oil stocks against tightening global supply.

Both contracts on Wednesday had shrugged off a build in U.S. crude inventories to end the trading session over 4% higher.

The probability of a EU ban on Russian oil being agreed may be almost zero, but no one will be able or wanting to say that clearly, Vandana Hari, founder of oil market analysis provider Vanda Insights said.

 

 

STOCKS

 

 

S&P 500, Nasdaq dip as rising bond yields pressure growth stocks 

 

Wall Street was mixed on Thursday at the end of a holiday-shortened week as benchmark bond yields resumed their uphill climb and investors juggled earnings and economic data. 

While all four beat Street estimates, they also reported steep profit declines. Their share price reaction was mixed, and were last moving in the range of up 1% (Citigroup) to down by 5% (Wells Fargo). The broader S&P 500 Finance index fell 0.7%.

Analysts now expect aggregate annual S&P 500 earnings growth of 6.3%, less optimistic than the 7.5% growth projected at the beginning of the year.

 

Elon Musk says he’s ‘not sure’ he’ll be able to buy Twitter after $43 billion bid, teases a plan B

 

Billionaire Tesla CEO Elon Musk acknowledged Thursday at the TED2022 conference in Vancouver that he is “not sure” he’ll actually be able to buy Twitter. The comments came hours after a regulatory filing revealed that he offered to acquire the company for $54.20 per share, or about $43 billion.

Twitter confirmed it had received the bid but its board must still review the offer, which values shares much lower than the $70 they reached last summer. But Musk had said the offer would be his “best and final” one.

 

 

ANALYSIS

 

 

EUR/USD not ready for primetime, EUR/CHF has likely bottomed – TDS 

 

“The ECB left its messaging virtually unchanged from March, committing to end the APP sometime in Q3 and hike rates ‘some time after’. We now expect lift-off in September, with sequential quarterly hikes through to the end of next year.”

“EUR/USD is likely to maintain the 1.08 to 1.12 range, with lingering downside risks to the lower-end.”

 

 

CHART

 

 

AUDUSD Near Term: Upside favored

Technical View: Long position above 0.739. Target 0.748. Conversely, break below 0.739, to open 0.736.

Comments: The pair breaks below support.

Source: Trading Central
 

 

CALENDAR

 

 

*Times in GMT

Source: FX Street Economic Calendar

SOURCES

https://www.cnbc.com/2022/04/14/forex-markets-dollar-us-yields-euro-british-pound.html
https://www.cnbc.com/2022/04/14/gold-markets-inflationary-pressures-ukraine.html
https://www.reuters.com/business/energy/oil-markets-open-slightly-lower-market-weighs-mixed-supply-signals-2022-04-14/
https://www.reuters.com/business/futures-edge-higher-ahead-bank-earnings-twitter-jumps-musks-takeover-offer-2022-04-14/
https://www.cnbc.com/2022/04/14/elon-musk-not-sure-hell-be-able-to-buy-twitter.html 
https://www.fxstreet.com/news/eur-usd-not-ready-for-primetime-eur-chf-has-likely-bottomed-tds-202204141424