IMF warns about inflation

And we have here yet another warning. International Monetary Fund has stated that everyone should be “very, very vigilant” about the rising inflation and potential risks connected to it. Risks connected to inflation are recently highlighted ever more often by regulators or financial institutions.

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PMI falls in several countries

Eurozone Purchasing Managers’ Index (PMI) fell to 48.9 in September of 2022 from 49.8 in August, and Germany Services PMI also dropped to 45.4 from 47.7. UK Services PMI also falls from 50.9 to 49.2, but France surprises with a rebound from 51.2 to 53.

Beyond Meat COO arrested for battery

Doug Ramsey, the COO of Beyond Meat, was detained this weekend. Ramsey is accused of biting a man’s nose in a parking garage in Arkansas following a college football game. He was lodged in the Washington County jail after being accused of third-degree battery.

Spain’s trade deficit rose sharply

Spain’s trade deficit increased from EUR 1.60 billion in July 2021 to EUR 6.56 billion in July 2022. Spain’s imports rose 37.1% to an almost record high. This created the greatest trade deficit since December 2008, led by energy products, capital goods, non-chemical semi-manufactures, food, drinks and tobacco.

EU inflation is still high

The annual inflation rate in the Euro Area was confirmed at a record of 9.1% in August of 2022, compared to 8.9% in July. The highest contribution came from energy again. The Eurodollar holds around the parity level.

Biden with $900 million announcement

Today, President Joe Biden will announce the approval of $900 million funding for building EV charging stations. It should take place in 35 states and is a part of $1 trillion infrastructure bill that was approved in November of last year. Over the next 5 years about $5 billion will be granted to states to build thousands of EV charging stations.

Czech’s inflation falls after 14 months

In August 2022, the annual inflation rate in the Czech Republic decreased for the first time in 14 months to 17.2% from 17.5%, well below the market expectations of 17.6%. So it looks like 7% interest rates are starting to affect their inflation, and it’s coming back down.

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China orders massive equity buying

China continued its lockdowns that appeared to hurt its economy as the rest of the world said goodbye to COVID. The nation’s real estate market and stock market suffered as a result. Currently, the government has directed state banks to buy equities to stop excessive selling.

Interpol issued red notice on Do Kwon

Interpol issued a red notice on Do Kwon, the co-founder of Terraform Labs. Do Kwon insists that he is not hiding, but it is unclear where he is because Singaporean authorities claim he is not in the country.

Nikkei falls by 2.66%

The Nikkei 225 Index dropped 2.66% to 26,430, finishing at its lowest point in more than two months and following the lead of a downbeat Wall Street market. Increased inflationary pressures, increasing interest rates, and concerns of a global recession continue to put pressure on risk assets.

Serbian Dinar weakens

As a result of the Fed’s aggressive rate hikes, Serbian Dinar hits an all-time low against the US Dollar. USD/RSD rose 0.62% to 121.6800 from 120.9300 in the previous trading session.

Russia is about to legalize crypto

Russia took the first step toward legalizing crypto, and it benefits everyone. Kommersant reported that the country’s Deputy Finance Minister Alexei Moiseev and the Bank of Russia have settled on using cryptocurrency for cross-border payments. Locals are permitted to process international payments using crypto.

Bearish sentiment rules markets

Rate hikes from all central banks worldwide are pushing markets lower. In the last week, DAX 40 fell by 4%, S&P 500 by 6%, and Dow Jones by 5%. Commodities followed, with WTI Crude Oil down 8% and natural gas down 11% for the week.


Weekly macro report – It’s time to be a contrarian (S&P 500)

Weekly macro report – It’s time to be a contrarian (S&P 500)

In our macro report, we monitor great extremes in negative sentiment, short-selling and option trading. Despite worsening macro, a possible rally is likely.
GBP/USD crashes to all-time lows, touches 1.04

GBP/USD crashes to all-time lows, touches 1.04

This article provides an analysis of the British pound's recent decline and the possibility of a potential parity with the US dollar.

Did MIT invent a new type of cheap battery?

Have MIT engineers invented a replacement for the lithium-ion battery? These are used in conjunction with, for example, electric cars.

Honda has to cut production due to chip shortage

Honda has to cut production by 40% at one factory and 30% at another. This is primarily due to a shortage of chips.