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Big Financials, Los Angeles, CA (2025)

05/07/2023

China Forex reserves rise to $3.205 trln in April

China's foreign exchange reserves rose more than expected in April 2023, according to official data released on May 7. The country's foreign exchange reserves, the world's largest, increased by $21 billion to $3.205 trillion last month, exceeding analysts' expectations of $3.192 trillion and up from $3.184 trillion in March.

Foreign exchange reserves refer to a country's holdings of foreign currency, usually in the form of government bonds, and are considered important indicators of a country's economic stability. China's foreign exchange reserves have been steadily increasing over the years, with the country's holdings reaching an all-time high of $4.01 trillion in June 2014 before declining to $3.23 trillion in January 2017.

Factors contributing to the rise in China's foreign exchange reserves include the appreciation of other major currencies against the dollar, as well as possible trade surpluses and capital inflows. The yuan fell 0.63% against the dollar in April, while the dollar fell 0.94% against a basket of other major currencies.

In addition to foreign exchange reserves, China also holds gold reserves as a way to diversify its assets and reduce its reliance on the dollar. China held 66.76 million fine troy ounces of gold at the end of April 2023, up from 66.50 million ounces at the end of March. The value of China's gold reserves also rose to $132.35 billion at the end of April from $131.65 billion at the end of March.

The rise in China's foreign exchange reserves and gold holdings could have potential implications for the country's economy and global markets. It could signal increased confidence in China's economic prospects, and could lead to increased investment in the country. However, it could also lead to a stronger yuan, which could impact China's exports and trade surplus.

In conclusion, China's latest foreign exchange reserves and gold holdings data for April 2023 reflect a continued increase in the country's holdings of foreign currency and gold. As these holdings are important indicators of economic stability and potential market movements, it will be important to monitor any future changes in China's reserves.

07/22/2022

Bitcoin & Ethereum forms a bearish divergence on the daily time frame. As US Dollar Index tests the support. Dollar Index has been on a decline from 14th July 2022 which provided support for bitcoin and ethereum buying rally for the whole week. Both cryptocurrencies displayed an inverse relation to the dollar index. If the dollar index falls from the support price more buying is expected in the cryptocurrencies. Prepare for a sell off if DXY rises.

Goodluck to all the traders. Trade cautiously and always do your own research before investing.

www.bigfinancials.com

05/04/2022

says byeee to profits
Warren Buffett’s asset management baby has had a rough go of it this quarter despite ramping up its spending habits.

Shares sank 1.21% on Monday following a weekend earnings report, where Berkshire reported a significant slowdown. Net income of $5.46bn was down from $11.7bn YoY, and operating profits came in at $7.04bn, up a meager 1% from the same time last year.
The US economy is slowing, and Berkshire is paying the price – literally. The economy contracted for the first time since covid hit, meaning turbulence for Berkshire's huge stock portfolio, and rising claims in the insurance biz hurt its underwriting business.
Buffett came down hard on Bitcoin while addressing investors for the first time since the pandemic hit. The big dog investor said that he wouldn’t spend even $25 on all the Bitcoin in the world, and his long-time partner Charlie Munger chimed in to say the OG currency is “stupid and evil”.

05/02/2022

S&P 500 Closes Down 3.3% For the Week on Disappointing Amazon Financials, Weak Economic Data

The S&P 500 limped into the close and ended a fourth consecutive week in the red after Amazon's (AMZN) disappointing outlook weighed on sentiment.

The benchmark index was down 3.3% in the latest week at 4,131.93 from last week's close of 4,271.78 with all eleven sectors in the red. For the month of April, the S&P 500 suffered its heaviest losses since March 2020, down more than 9% over the last four weeks.

Amazon fell to a 22-month low after saying Thursday it swung to a Q1 loss and issued a Q2 sales forecast that missed expectations, killing a rally into the end of the month that was led by bargain hunters.

The sell-off caused tech stocks to lose ground for a second week, down another 1.2% from last Friday's close.

Stocks were defensive at the start of the week ahead of the flood of corporate results with earnings expected to disappoint following supply chain warnings from General Electric (GE) and downbeat results from Raytheon (RTX).

The material sector escaped most of Friday's selling frenzy with a loss of just 0.8% largely on a 12% rally in Sherwin-Williams (SHW) and an 8% jump in shares of Avery Dennison (AVY) both of which reported better-than-expected quarterly results this week.

The energy sector was down 1.3% as the solid gains in shares of Valero (VLO) resulting from upbeat earnings insulated the sector from heavy losses from Halliburton (HAL) and Schulumber (SLB).

The remaining sectors struggled into the close with consumer discretionary at the bottom of the pack with a 7.9% loss. Amazon and Tesla (TSLA) were the worst-performing stocks in the sector with Amazon losing 14% in value for the week, and shares of Tesla undermined by CEO Elon Musk's $8.5 billion sale of his personal stock to help finance his $44 billion Twitter (TWTR) acquisition.

Real estate stocks lost 5.6 on continued headwinds from rising mortgage rates. Equity Residential (EQR) and AvalonBay (AVB) were down 11% and 9%, respectively.

The financial sector was down 4.6% from the prior week's close as heavy losses in AON (AON) and Cincinnati Financial (CINF) overshadowed more modest gains in insurance stocks like Chubb (CB) and Comerica (CMA).

Consumer staples were down 2.1% followed by a 2.5% loss in health care stocks. Led by a 15% drop in shares of General Electric, the industrials sector closed 2.8% in the red, while Comcast's (CMCSA) 12% drop this week resulted in a 4.1% decline in the communications sector despite a rally in shares of Meta (FB).

Economic data also contributed to the sour mood on Wall Street this week.

The economy contracted 1.4% in the first quarter, the US Bureau of Economic Analysis said in a report, but the bad news was tempered by strong consumer spending.

While personal income and spending improved in March, inflationary pressures on consumers remained high, fueling expectations that the Federal Reserve will need to raise interest rates by at least 50 basis points next week.

The Federal Open Market Committee meeting on Wednesday, at which time the Fed is expected to deliver its second rate hike since 2018, and the April payroll data highlight economic data next week. The economy is expected to have created 385,000 jobs which will drive down the unemployment rate to 3.5%.

Next week's heavy economic calendar also includes the Institute for Supply Management and final S&P Global manufacturing and service sector PMIs for April, the durable goods report, JOLTS figures, the trade balance report, non-farm productivity and unit labor costs and the ADP employment report on private jobs.

04/07/2022

Market Summary 7 April 2022

12/02/2021

What is ?

Metaverse Market Cap is $38 Billion and is expected to increase to $800 Billion by 2024.

It's a combination of multiple elements of technology, including virtual reality, augmented reality and video where users "live" within a digital universe. As the metaverse expands, it will offer a hyper-real alternative world for you to coexist in.

It started with games such as Fortnite, Minecraft, Roblox etc with parent companies aiming to be pioneers of development in this field. Big companies such as Facebook, Microsoft, Nike, Addidas etc are already investing and developing the digital world rapidly.

According to Meta pioneers it could take 5 to 10 years for Metaverse to become mainstream but it already exists as Ultra-fast broadband speeds, virtual reality headsets and persistent always-on online worlds are already up and running, even though they may not be accessible to all.

Examples include:

1. Meta. The tech giant formerly known as Facebook has already made significant investments in virtual reality, including the 2014 acquisition of Oculus. Meta envisions a virtual world where digital avatars connect through work, travel or entertainment using VR headsets.

2. Microsoft. The software giant already uses holograms and is developing mixed and extended reality (XR) applications with its Microsoft Mesh platform, which combine the real world with augmented reality and virtual reality. Earlier this month, Microsoft showed off its plans for bringing mixed-reality including holograms and virtual avatars to Microsoft Teams in 2022. Also in the works for next year: explorable 3D virtual connected spaces for retail and workplaces.

3. Epic Games. Tim Sweeney, CEO of the company that developed Fortnite, has said, "It’s no secret that Epic is invested in building the metaverse." It's held concerts by the likes of Ariana Grande and Travis Scott, movie trailers and music debuts and even an "immersive" re-imagining of Martin Luther King Jr.'s 1963 historic "I Have A Dream" speech. And it's developing photorealistic digital humans with its MetaHuman Creator, which could be how you customize your digital doppelganger in future open-world games.

11/10/2021

Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform.

is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s hybrid protocol allows for significantly decreased validation times for both transaction and smart contract ex*****on. With lightning-fast processing times. Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

Top Projects on SOLANA: Raydium, Serum, Orca & Star Atlas
Solana Wallets: Solflare , Solet & Phantom

Discover More: https://solana.com

11/10/2021

Market Captilization: $49.89 Billion

Polkadot is an open-source multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other.
This interoperability seeks to establish a fully decentralized and private web, controlled by its users, and simplify the creation of new applications, institutions and services.
The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain.

Major PolkaDot Projects; Chainlink(LINK) , Kusama(KSM) & Compound(COMP)

Discover More: https://polkadot.network

09/24/2021

Bitcoin fell about 5% on the news. Ethereum, another leading cryptocurrency, was down 9%.

Chinese government agencies including the country's securities regulator and the People's Bank of China (PBOC) said in a statement on Friday that all cryptocurrency-related business activities are illegal and vowed to clamp down on illicit activities involving digital currencies.

The agencies said that overseas crypto exchanges would be blocked from providing services to Chinese residents through the internet.

The agencies said that China would develop "new systems" to counter risks posed by cryptocurrencies. China will gradually start shutting down crypto mining operations, and no new mining projects will be permitted, the National Development and Reform Commission said in a separate statement.

09/24/2021

China's economic recovery still surprises the global community.

August data turned out to be impressive for both China and other countries. Local suppliers have increased exports, thus boosting the whole economy.
The Chinese economic growth could be primarily explained by a jump in global demand amid the recovery of other economies. In other words, the whole world is supporting the revival of the Chinese economy. According to China Customs Statistics, in August, exports advanced by 25.6% on a yearly basis and by 19.3% compared to the previous month.

Even the most optimistic analysts had expected a jump of 17.1%. The strong exports data proves the stability of the country's industrial sector. "While near-term headwinds remain, supply constraints in China have eased
and we think the global economic recovery will continue to underpin
China's exports later this year and in 2022.

09/23/2021

During the European session, the AUD/USD reached a peak of 0.7321. However, as market sentiment deteriorated and American traders got to their desks, the AUD/USD dipped below 0.7300, pushing the pair to a three-week low at 0.7262. The AUD/USD is trading at 0.7284 at the time of writing, down 0.05% on the day.

US stocks fall while the greenback rises, underpinned by higher bond yields

In the New York session, US stock indexes are posting losses between 0.32% and 1.21%. The US Dollar Index is on the right foot, rising 0.41% on the day, currently at 93.24, underpinned by higher yields. The 10-year benchmark rate is at 1.368%, up to three basis points.

In the US economic docket, the Consumer Sentiment of the University of Michigan was released. The sentiment improved to 71.0 in September but remained below the 72.2 expected. The Delta strain has dampened the consumer sentiment, lowering the economic forecasts for the third quarter as economic activity slowed down.

The week ahead: FOMC Meeting and RBA Minutes

The Federal Open Market Committee will hold its September meeting. A lousy employment report and moderate inflationary pressures could delay bond taper announcement until November’s meeting. Contrarily, rising PPI and a stellar Retail Sales report could potentially prompt the Fed to take action at the following week’s meeting.

Meanwhile, the Reserve Bank of Australia will reveal the minutes of their last meeting on September 21.

AUD/USD Price Forecast: Technical outlook

The AUD/USD pair is trading well below its main daily moving averages in the daily chart, suggesting that sellers are in charge. The first support level would be 0.7200. In case of a break below the latter, the next demand area would be the 2021 low at 0.7100. A breach of that level could motivate sellers to push the price towards the psychological 0.7000.

On the other hand, buyers would need to push the price towards the 50-day moving average at 0.7342 to reclaim control.

The Relative Strength Index is at 41.18, heading lower, supporting the bearish bias.

09/14/2021

The Solana network's utility token, SOL, has reached seventh place among the biggest cryptocurrencies by coin capitalization. Solana is being considered as a long-term competitor of Ethereum and another way of building decentralized apps and decentralized finance solutions with various advantages.

Solana's token tripled in price in three weeks and is now sitting at the value of $41.3 billion, coming close to Ripple which has $62 billion in market capitalization . Previously, SOL overcame Dogecoin in capitalization by almost $1.5 billion.

The growth of the network is tied to the skyrocketing capitalization of the DeFi and NFT industries. Due to high fees on the Ethereum network that sometimes exceed the minting price and transaction value, users and projects choose alternative networks like Solana and Binance Smart Chain. In addition to that, Solana is being heavily supported by FTX exchange CEO.

09/09/2021

CHINA INFLATION YOY

In China, the most important components of the CPI basket are Food (31.8 percent of total weight) and Residence (17.2 percent). Recreation, Education and Culture Articles account for 13.8 percent;
Transportation and Communication for 10 percent, Healthcare and Personal Articles for 9.6 percent, Clothing for 8.5 percent; Households Facilities, Articles and Services for 5.6 percent; To***co, Liquor and Articles for the remaining 3.5 percent.
The CPI basket is reviewed every five years on the basis of household surveys. Revisions reflect new spending patterns and economic development, according to the National Bureau of Statistics. Last
revision took place in 2011.

09/03/2021

World’s second largest cryptocurrency network by way of market capitalization, Ethereum, split into two chains or versions.

The split happened due to the failure of the older Go Ethereum (Geth) nodes to upgrade to ‘Hades Gamma' patch. The patch was released on 24th August after a bug was detected in mid-August 2020 in the 1.10.7 version of Ethereum network.

Go Ethereum updated its users on Twitter on August 27 about the split and the complete resolution of security vulnerability with its 1.10.8 version. It asked users to update their nodes having Hades Gamma patch to the current version if they haven't done so already.

09/01/2021

Twitter is reportedly laying the
groundwork to enable Bitcoin (BTC) tipping for content creators.
According to MacRumors, the latest

Twitter iOS beta includes lines of code that could see Bitcoin become a part of the "Tip Jar" Indeed. Twitter CEO Jack Dorseybhad previously hinted that
Bitcoin tipping was in the works.

Twitter introduced Tip Jar back in May as a way for users to reward content creators
on the popular social media platform.
If the reports of Bitcoin tipping are true,
then BTC will be added alongside Cash
App, PayPal and Venmo as acceptable
payment options on the Tip Jar.

09/01/2021

Crude oil futures settled marginally up on
Wednesday after data showed a drop in U.S. crude inventories in the week ended August 28.

Traders also noted that the Organization of
the Petroleum Exporting Countries (OPEC)
and its allies, collectively known as OPEC+, decided in a meeting today to stick to their earlier plan of boosting oil production by 400,000 barrels per day each month through December.

West Texas Intermediate Crude oil futures
for October ended up by $0.09 or about
0.1% at $68.59 a barrel.
Brent crude futures were down $0.16 or
0.22% at $71.47 a barrel a little while ago.

09/01/2021

US stocks declined on Tuesday after
investors assessed whether the economy
could withstand an early tapering of support measures. The S&P 500, for instance went down 0.20% from record highs. The report on Wells Fargo & Co, decline in US consumer confidence and largest jump in home prices in more than 30 years also put some pressure on the market.

In any case, US stocks are still heading for
their seventh consecutive monthly growth,
which is the longest streak it has since
January 2018.
But as debate on tapering heats up, coupled with a resurgence in COVID-19 that is delaying the resumption of operations in some parts of the world, concerns have risen about the potential overstretching of the stock market, especially with the s&P 500 trading near its highest level since 2000.
Fortunately, corporate insiders, whose
purchases have correctly marked the
bottom of the bear market in March 2020,
are not afraid to chase a record rally. More
than 1,000 executives and managers
reportedly bought shares in their companies this month, which is way more than the purchases since May last year.

09/01/2021

El Salvador’s Legislative Assembly has passed legislation creating a $150 million dollar Bitcoin Trust and supporting the development of crypto infrastructure and services across the country.

The bill passed on Aug. 31, with 64 officials voting in favor and 14 opposing the trust’s creation. The Trust is designed to facilitate conversion of Bitcoin into U.S. Dollars, and support the roll out of vital technological infrastructure enabling widespread adoption of crypto assets.

The news comes just one week before the country’s controversial Bitcoin Law is set to take effect. The impending legislation will recognize BTC as legal tender across El Salvador and is slated to take effect on September 7th. Currently, U.S. dollars are used as legal tender in the country.

The Development Bank of El Salvador (Bandesal) has been appointed to oversee the trust’s operation

The $150 million will be redirected from the country’s $500 million loan with the Central American Bank for Economic Integration (CABEI). The CABEI loan was originally taken for the purpose of economic recovery for small and medium sized businesses.

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