About: jonywang
Recent Posts by jonywang
FOMC Minutes Point to Less Hawks Decisions
On Wednesday, 24 November (GMT+2), the Federal Open Market Committee (FOMC) released the minutes of its 1-2 November meeting. Reflecting statements multiple officials have made over the last several weeks, the meeting summary concluded that a substantial majority of the Monetary Policy Committee (MPC) agreed it would probably moderate the pace of interest rate hikes.Continue Reading
Tencent Wins First Game License in 18 Months
Chinese tech and gaming giant Tencent has been awarded its first license for a video game in 18 months. This comes after the Chinese authorities started its wide-reaching crackdown on big tech companies, implementing legislation like limiting the amount of time children could spend playing games, and freezing the approval of new titles. Beijing hasContinue Reading
Geopolitical Headwinds Overshadow Crude Inventory Drop
On Wednesday evening, the EIA Crude Oil Inventories was released, with a draw of 5.4 million barrels – almost 5 million higher than the expected draw of 440,000 barrels. This puts current inventories at 435.4 million barrels, 4% below the 5-year average for this time of the year. Normally, a larger-than-expected drop in the crudeContinue Reading
FTX Declares Bankruptcy
Embattled cryptocurrency exchange FTX has declared bankruptcy in the latest saga in the crypto world. The company saw a mass exodus of holders of its native coin, FTT, after news emerged that its finances, including that of its sister trading company Alameda Research, was on shaky ground. Alameda itself is being accused of using clientContinue Reading
U.S. Midterm Elections Underway
After weeks of campaigning, the 2022 U.S. midterm elections are set to be held on 8th November, Tuesday. With inflation in full swing and multiple signals of an impending recession, it looks the economy – more specifically the cost of living – might decide who the winning party is. All 435 House seats and 35Continue Reading
