British Financial Services Minister Andrew Griffiths said on Wednesday that Britain should not be left behind in rapid financial innovation and was close to deciding when to release a digital version of the pound. The Treasury and the Bank of England launched a public consultation in February on paving the way. A potential digital pound is likely to enter circulation in the second half of the current decade.
Disney revealed on Wednesday, May 10, that broadcast losses have shrunk, as price increases helped offset the loss of 4 million subscribers to Disney+. The company recorded revenue and profits in line with Wall Street expectations during the first quarter of 2023. This is the second earnings report for CEO Bob Egger since returning to the company’s helm late last year.
The dollar stabilized on Thursday, May 11, while the Chinese yuan fell to its lowest level in two months after more evidence that the weakness of the recovery in China after the Covid-19 pandemic casts a shadow on the global economic outlook.
The dollar began today’s transactions declining against the yen, affected by the pressure resulting from the decline in US Treasury yields after the slowdown in inflation, which gave dealers more confidence that the US Federal Reserve has finished raising interest rates.
But it reversed course and pared back losses against the Australian dollar and euro in the wake of Chinese data revealing that consumer price inflation had nearly leveled off last month after an unexpected drop in imports during the week had already signaled warnings.
Support Level | Resistance Level |
100.90 | 101.54 |
100.65 | 101.86 |
100.06 | 102.45 |
Gold futures fell at the close of trading on Wednesday, May 10, as US inflation data provided little indication of the Federal Reserve’s path to interest rates.
At settlement, gold futures fell 0.3%, or $5.80, to $2,037.10 an ounce.
Support Level | Resistance Level |
2018 | 2044 |
2008 | 2055 |
2000 | 2078 |
The major US indices closed with a varied performance on Wednesday’s session after inflation data for April came in better than expected.
The Dow Jones index declined by 0.09%, equivalent to 30 points, recording its third daily decline in a row, pressured by the decline in American Express and Chevron shares by 3% and 1.3%, respectively.
Support level | Resistance level |
33295 | 33850 |
33000 | 34115 |
32850 | 34253 |
Oil prices fell more than $1 a barrel on Wednesday, ending a three-day rally after US economic data indicated that the US Federal Reserve may continue to raise interest rates.
Brent crude fell $1.03, or 1.3%, to settle at $76.41 a barrel. US West Texas Intermediate crude also fell $1.15, or 1.6%, to $72.56.
Support Level | Resistance Level |
71.70 | 73.80 |
70.70 | 74.85 |
68.65 | 76.95 |
This material provides real-time market analysis from contributing analysts. Please note that any views expressed in this material do not constitute operational advice. It is important to assess your risk tolerance and make independent trading decisions. STARTRADER holds no responsibility for any trading consequences that may arise from relying on the views expressed in this material.
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