Salesforce earnings 💪 Stocks surge 📈 PCE price index 👀PMIs x EURUSD🚦 Oil comeback 🛢️

FlowBank's hand-curated fresh financial news [header_noDither] 01.12.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [CRM] Salesforce, the global leader in CRM, announced strong third-quarter earnings. Revenue rose 14% year-over-year with a record operating margin. The tech company also highlighted it repurchased about 1% of its stock in the third quarter and forecasts cash flow to grow 16% YoY. [Start Trading](113/cXx8Z04/VXf6t03yjzxYW6nNYgN1q3f9tW4nNzqf4T1bfrN2z6H212-MK5V1-WJV7CgL7cW4GJcml4hMLqRW8tvQCb3FhxvsW2B14M78jTpxNW4Z-QxZ9jP1WzVK6Pf11lC0v9W4YcLRD4C5K_2W8pJJ-k7-v9q3W4w8PLs6XjgPwW2ryys84xfsNcW7SHmcc7Kpg5-N1yxmlxPm7dCW5N-VqJ8HrzrZW5QGwSM49bH_KW1byz7c1WxNH5W4rNPKK3YQBXQW1fRGY471LFsWN9hb46kxvzW1W2p2dY_1PqXdYW8T8RSs2Wk4bkW8DJghN18g8cz35H41) Trader's Corner In focus • Today the market's focus will be on the key inflation indicator, the PCE. As prices decline, the Fed aims to properly rebalance policy toward its objective of taming inflation while minimizing harm to the economy. • Traders will also pay attention to data from the Eurozone and China PMIs. Consumer spending restrictions and disruptions in manufacturing activity could derail the global growth picture but help tackle inflation. • Lastly, plunging US oil stockpiles have sent WTI Crude oil recovering, also boosted by traders hopeful China will accelerate its re-opening. WTI has now risen above the psychological level of USD80pb. Economic data • US Core PCE Price, Jobless Claims, Personal Spending, ISM Manufacturing PMI • EU Manufacturing PMI, Unemployment Rate • German PMI Retail Sales • UK PMI Earnings • Dollar General, Kroger • Veeva Systems, Ulta Beauty • Ambarella, Designer Brands Crypto • Bitcoin jumped past USD17'100, its highest level in 2 weeks, amid recovering investor sentiment for crypto following FTX's bankruptcy. • Binance, the world's largest crypto exchange by volume announced that it had acquired crypto exchange Sakura Exchange BitCoin (SEBC). [Table 01122022] [Start Trading](113/cXx8Z04/VXf6t03yjzxYW6nNYgN1q3f9tW4nNzqf4T1bfrN2z6H212-MK5V1-WJV7CgXMgW21vfYQ2v2P8zN2994QRlgCx8W5vPNjJ7MLQ1yW2KY5ng2mXWnxF3xFr9L8RnTW7QSmbR2wdSwvW1W322m1DPTb4W6Vbc0l7n_35GW68NvYM1wnJxTW6wvTDK7k6h97W935jCZ6tBgLnN4BnJ2GtfTgFW5DHX7H1bYgj0W6W79hV2tS38-N3JFrRQq7BfnW5lgd_61m-Ts0N6_mhq_8VlznW82xR4Q2SlDrKW7M6xBJ3N-KjbW7VvXm33-tfQr3mFm1) Market Recap Stocks charged higher during Federal Reserve Chair Powell's speech in which he confirmed the Fed is considering slowing the pace of rate hikes and will be careful not to overtighten. 10-year yields fell back under 3.7%. The euro surged 0.9% versus the dollar fueled by traders paring back bets of a strong dollar. Gold rose 1% to its highest level since August and oil gained 3% as oil stockpiles fell. This morning, S&P500 futures contracts are slightly higher as markets continue to advance on improving sentiment on the rhetoric that the Fed is moving closer to a 'pivot' on its aggressive tightening policy. 10-year Treasury yields fell to 3.62%, helping EURUSD leap to 1.044 (+0.4%). Chart Of the Day Stocks surged during Fed Chair Powell's speech in which the central banker confirmed smaller rate hikes could start as soon as December. [Nasdaq 30112022](113/cXx8Z04/VXf6t03yjzxYW6nNYgN1q3f9tW4nNzqf4T1bfrN2z6H1L2-MJQV1-WJV7CgDhqW5RS3nM3llXLpW9d_K-w7S5QD2W220NRY6GJyjRW7tKGCP8CT6C5W3M8Bvq2xqlzgN96mwflLg9j9W5jlmmN4_7Mj3Vpnrpk8wxvksW951FXV4YxfVcW8l_xzY28CNKYW5jhpqY5S8TVVN4j-zpbpTVr1W4zkJzf2-CsddW5Y2gQj7XjL9dW3FfC5H3kz1-MW65WFT_3DT0gHW7pb7453nwTHgW6pvR3D8D-8ZS38Nr1) FlowBank Blog A Rising Chance the USD Correction Becomes a Reversal [dollars](113/cXx8Z04/VXf6t03yjzxYW6nNYgN1q3f9tW4nNzqf4T1bfrN2z6H1L2-MJQV1-WJV7CgYT-W2Lb5ln5H5r-0W87dbDk532Y-0W4V_gbf38KYsHW121NfN3S5-CSW7ns6xj5yzNmjW4mV6DH3R34xwW1Q0qKd9bl8txW3dBnFj4w-rX6W2FrGyJ6Wh8BhW3892cY8M2XmVW5s2HTm80j-_XW9jxjGn2bk83mW9ltNr81mYPZMW98Zr1W3dcxdBF3KBMrjtNYmVcBBmF5ckWgMW60Twzt2KnpfZW6yfXdz9l5TG834dF1) The Dollar Index has fallen over 8% from the multi-decade highs printed in September, moving from around $114 to $105. Traders are now questioning whether the downturn marks the start of a reversal lower, or if this is simply a correction within the longer-term bull trend. 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