Market News 28/9
📈The US dollar soared after the White House talked down the prospect of a currency agreement to weaken the greenback. USDCNH rose to an all-time high at 7.2380 today. EURUSD is testing support at 0.9560.
💹USDJPY remains near the key 145 mark and within sight of levels that have drawn intervention from Japan.
⚠The war in Eastern Europe continues. Russia threatened to cut off the last gas pipeline to Ukraine’s European allies and moved to annex a large chunk of Ukrainian territory.
🚗Reuters reported that production at the Shanghai Tesla plant would drop 7% below capacity through 2022, raising demand speculation.
🍏According to Bloomberg, Apple Inc. is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize.
💬Scheduled dispositions for Elon Musk and Twitter CEO Parag Agrawal were delayed, raising speculation the two sides are working on a settlement. Musk is now scheduled for deposition on Oct. 6 and 7.
Edited 28 Sep 2022, 14:36
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