Core Insights - The article does not provide specific insights or analysis related to any company or industry, focusing instead on the author's background and experience in the financial sector [1]. Summary by Categories - **Experience and Focus**: The author has over five years of experience in the financial industry, primarily focusing on commodities, foreign exchange, and cryptocurrencies [1]. - **General Issues**: The author also engages in writing about broader topics such as equity research, economics, and geopolitics [1].

Core Insights - The article does not provide specific insights or analysis related to any company or industry, focusing instead on the author's background and experience in the financial sector [1]. Summary by Categories - **Author's Experience**: The author has over five years of experience in the financial industry, primarily focusing on commodities, foreign exchange, and cryptocurrencies [1]. - **Writing Focus**: The author also writes on broader topics such as equity research, economics, and geopolitics [1]. - **Colleague Mention**: A colleague, Crispus Nyaga, is noted as a fellow contributor [1].

Japan’s top currency official said the government remains on high alert over foreign exchange movements in a week that’s seen gains in the Japanese currency https://t.co/U31Md1bOWl ...

कुछ खास होता भी नहीं था। सिर्फ यही पता था आईटी का मतलब इनकम टैक्स होता है। अ स्टार्ट किया कि कुछ नया करना है। स्टार्टेड विद असेंबलिंग ऑफ डेस्कटॉप्स एंड देन लैपटॉप्स और सर्वर्स और उससे हम स्टार्ट हुए। मगर जब मैं पाकिस्तान में नहीं था 95 से पहले। तो जिस वक्त स्टार्ट किया तो एक चीज का पता चला पाकिस्तान में अपना ब्रांड कुछ भी नहीं है। हम किसी के मल्टीनेशनल के ब्रांड्स के ऊपर बैठ के ड्राइव करते हैं यहां पे। नॉट इवन इन आईटी मेरा ख्याल है किसी चीज का भी हमारे पास कोई ब्रांड नहीं है। उस वक्त हमने सोचा कि एक पाकिस्त ...

Core Insights - Siemens Healthineers reported a strong start to fiscal 2026, confirming its full-year outlook despite facing significant headwinds in diagnostics due to market changes in China [4][13] Imaging Segment - Imaging adjusted EBIT margin was 21.6%, reflecting strong operational margin expansion, with external pressures from tariffs and foreign exchange impacting margins by approximately 200 basis points [1] - Revenue in the imaging segment grew by 5.7% in Q1, driven by photon-counting CT and radiopharmaceuticals, with a comparability change due to an acquisition from Novartis [2] - The combined growth for imaging and precision therapy was around 6%, with a decent equipment book-to-bill ratio of 1.12 [3][5] Diagnostics Segment - Diagnostics revenue fell by about 3% due to volume-based procurement and reimbursement cuts in China, which saw a decline of approximately 5% for the group [5][7] - Outside of China, diagnostics revenues remained stable, with the Americas diagnostic business showing operational growth, particularly from the Atellica franchise, which grew roughly 20% in Q1 [8][10] - Management expects Q2 diagnostics performance to be below the annual growth range due to ongoing challenges in China [14] Financial Performance - The company achieved a group revenue growth of 3.8%, with strong performance in imaging and precision therapy offsetting the decline in diagnostics [10] - Adjusted EPS declined by 3% year-over-year, but excluding the impacts of tariffs and foreign exchange, adjusted EPS would have increased by about 17% [11] - The adjusted EBIT margin for the group was 15%, remaining flat year-over-year, but operationally expanded by 200 basis points when excluding external pressures [10] Tariffs and Foreign Exchange - Tariffs and foreign exchange are expected to be ongoing headwinds throughout fiscal 2026, with quantified impacts of approximately $0.04 from foreign exchange and $0.06 from tariffs in Q1 [12][18] - The company anticipates fully mitigating the impact of tariffs over the next three years, describing them as a temporary drag on margins [12][18] Outlook - Siemens Healthineers confirmed its fiscal 2026 outlook for revenue growth and adjusted EPS, supported by strong performance in imaging and precision therapy [13] - For Q2, the company expects group revenue growth to be below the fiscal 2026 range of 5% to 6%, primarily due to diagnostics challenges in China [14][15]

Core Viewpoint - Gold and silver prices have rebounded significantly after a recent selloff, with analysts indicating that future gains will depend on foreign exchange movements and interest rate expectations [2][3][8]. Price Movements - Spot gold increased by 2.4% to $5,054.6 per ounce, while gold futures rose by approximately 3.4% [2]. - Spot silver saw a rise of 5.8% to $90 per ounce, with silver futures up 8% at $90.16 [2]. Market Context - The rebound in precious metals follows a nearly 10% drop in gold and a 30% decline in silver prices, marking the worst one-day performance for silver since 1980 [2]. - Analysts suggest that the recent price movements are a result of dip buying after significant corrections in the market [3]. Mining Companies Performance - London-listed mining companies experienced gains, with Rio Tinto up 1% and Anglo American up 0.7%, while Antofagasta saw a slight decline of 0.2% [4]. - The FTSE 350 Precious Metals and Mining Total Return Index rose by 2% to approximately 34,963 [4]. Investor Sentiment - UBS CEO noted that clients are becoming more cautious, seeking protection and moving away from the tech sector [4]. - There is a trend of excess cash being redeployed into capital markets, including precious metals [5]. Future Outlook - Analysts predict that further gains in precious metals may be muted, with volatility expected to persist [7]. - The pace and sustainability of future price increases will be influenced by the U.S. dollar, interest rate expectations, and overall risk sentiment [8]. - Goldman Sachs has set a price target of $5,400 for gold by the end of 2026, while BofA Securities has a more bullish target of $6,000 [9]. Market Fundamentals - The physical market fundamentals are described as somewhat shaky but still supportive [10]. - Political uncertainty surrounding the upcoming mid-term elections and the direction of U.S. interest rates under the potential new Federal Reserve chair could impact forecasts [10][11].

The dollar is dropping and President Donald Trump is signaling that he's comfortable with it. The dollar dropped as much as 1.2% on Tuesday, its biggest decline since April last year. What spurred this Trump's reply when he was asked if he was worried about the currency's drop.>> Mr. . President, with the current value of the dollar, do you think it's declined too much. >> No, I think it's great.I mean, the value of the dollar, look at the business we're doing. No, dollar's dollar is doing great. The dollar ...

I'm Ruth Carson, and this is what's important in FX and rates markets right now. We're going to talk about the Indian rupee, which has fallen against a dollar to an all-time low. It's weakened more than 5% this year, making it the worst-performing Asian currency.The Indian rupee has been in a free fall over the past month, coming under pressure from delays in clinching a trade deal with the US and with foreigners pulling out money from the stock market. Indian importers as well have been looking to beef up ...

Japan’s chief currency official sent a warning on recent foreign exchange moves, after the yen weakened against the dollar following Friday’s Bank of Japan decision https://t.co/3JaLYzWSp9 ...

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the macroeconomic outlook, focusing on global rates, commodities, currencies, and emerging markets, with insights from J.P. Morgan Securities. Core Insights and Arguments US Rates - Hawkish developments across developed market (DM) central banks have led to underperformance in the intermediate sector, aligning with a forecast for modestly higher yields in 2026 as easing cycles wind down [3][14] - The Federal Reserve (Fed) is expected to ease rates in January 2026, with the effective funds rate projected to be 3.40% by mid-2026 [11][12] - Treasury yields are forecasted to reach 3.60% for 2-year and 4.25% for 10-year by mid-2026, with slight increases expected by year-end [9][11] International Rates - DM rates have generally sold off due to a hawkish shift in central bank tones and strong data momentum, leading to a lightening of risk in portfolios [4][39] - The Fed's recent actions have not met more hawkish market expectations, contributing to a bearish outlook for the USD [6][80] Commodities - Cocoa's re-inclusion in the Bloomberg Commodity Index (BCOM) is expected to drive significant buying, accounting for 22% of total open interest, overshadowing more modest buying in other commodities like corn and wheat [6] - Natural gas storage withdrawals in North West Europe (NWE) have exceeded forecasts, despite weaker demand trends [6] Currencies - The USD is under pressure due to a dovish Fed stance compared to hawkish developments in other G10 countries [75][79] - Event risks are elevated with upcoming US payroll releases, and a bearish outlook for the USD is contingent on data performance [79][80] Emerging Markets - The outlook for emerging markets (EM) in 2026 is positive, with lower macro volatility expected to support local markets. The recommendation is to stay overweight (OW) on EM FX and rates [6][11] - Growth and inflation are projected to remain stable, with limited central bank easing anticipated [6] Additional Important Insights - The Fed's policy path is now more aligned with J.P. Morgan's forecasts, indicating limited scope for further bearish impulses in the near term [14] - A significant funding gap is expected to emerge in 2027, with coupon size increases anticipated starting in November 2026 [22] - The demand for Treasuries is expected to remain stable, with mutual funds and ETFs likely absorbing 50% of net T-bill supply [32] - The anticipated cuts from the Fed and other central banks are expected to create a more favorable environment for high-yield currencies [68] This summary encapsulates the key points discussed in the conference call, providing a comprehensive overview of the macroeconomic landscape and its implications for various asset classes.