Market Recap: All You Need to Know to Start Your Week

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DIFX Buzz: Here’s a weekly market recap for you to start your Monday with the top news of the week.

Let’s see what happened in markets this week:


❖  The US dollar rose to a one-month high against the Japanese yen, reaching 134.22 yen, as traders anticipate another interest rate hike by the Federal Reserve, while the Bank of Japan maintained its easy money policies.
❖  The Chinese Yuan weakened against the Dollar as the market awaits Q1 GDP data for China on Tuesday.
❖  The Australian and New Zealand Dollar have been under pressure as each has diverging interest rate outlooks.


❖  European shares rose today as the market expects strong quarterly results from big US banks.
❖  Tesla’s Shanghai factory workers are appealing to Elon Musk and the Chinese public through social media after being informed of cuts to their performance bonuses over the weekend.
❖  Netflix crashed over the weekend for around 11,000 users in the US as the tech giant experienced major outages.
❖  SpaceX is set to launch the debut flight of the Starship rocket to space on Monday.

❖  The SEC opened public comment on its proposal to include decentralized platforms under the definition of an “exchange”.
❖  There has been a lot of criticism mentioning this proposal was vague and Dapps should not fall under the oversight of the SEC.
❖  Ether bounces to an 11-month high post-upgrade as the Shapella upgrade is deemed a success.

❖  Canadian copper miner Teck Resources has been approached by more than six mining companies, including Vale, Anglo American, and Freeport-McMoRan, to explore deals for its base metals business if it goes ahead with the planned split.
❖  Gold prices have risen slightly as the Dollar eased but were down from last week’s one-year highs. Global economic and geopolitical tensions continue to support gold’s safe-haven status.
❖  Gold dropped 2% on Friday after mixed U.S. economic data prompted investors to reassess the Federal Reserve’s interest rate hike trajectory.

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