Kering positive surprise 👍 Stocks gain 📈 Macro data 💼 Dollar rises💸 BTC defies gravity 🔮

FlowBank's hand-curated fresh financial news [header_noDither] 16.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Gucci] Kering, the French luxury group, reported a 7% sales decline in Q4 2022, led by a 14% drop at its biggest brand, Gucci. The decrease was due to Covid lockdowns in China and weaker US demand caused by a stronger dollar. However, the sales figures exceeded analysts' projections, which had anticipated an 11% decrease. As a result, Kering's shares rose by 3.3% for the day and have increased by 20% year-to-date. [Start Trading](113/cXx8Z04/VVTVSK2qt-MdN5tcg5yL0-JTW1xTZ7Q4X4dDLN89-Qzy2-MK5V1-WJV7CgPTXW4jr9Bt5Mbh-vW4bz_BV6zTFg_W2ylF1f5vYQWmVWMCFx3jPQPSW86hDSQ6x1g3FMFJnXLJZkC4W1zJml44C2vbpW4Q1ysW1ghwb5W6BnpzV91Mg-FW8rs2W34pG60nW6cvMGH6tLBHXW7kxKvG4LPNqGW5nd6WH79CmLJN5bVClxwg0h-W7kpXfG9hV0-8W8VSg3v1HM6-hW79J3W48P9PS8W1p-kJN3HQgzlW1CKGx-4L7LNLW4rp9zN4rTkjW38-F1) Trader's Corner In focus • US macro data from jobless claims, and building permits, to manufacturing will take centre stage as investors aim to gain insights into the state of the economy. Sentiment has improved after the strong US retail sales. • Treasury yields have risen to 3,81% for the 10-year, a level that was not seen since early January. Traders will watch carefully as it could add new selling pressure. • Lastly, cryptocurrencies are on fire, rising to their highest level since mid-August. On that note, El Salvador, the first country to adopt Bitcoin as legal tender, plans to open a "Bitcoin Embassy" in the US as it pushes for wider crypto adoption. Economic data • US building permits, PPI, jobless claims, Philadelphia Fed Manufacturing • ECB economic bulletin Earnings • Airbus, Schneider, Renault, Ubisoft • Applied Materials, Datadog • Crocs, Paramount, Vale Crypto • Amazon’s Alexa Fund, its VC arm, has led a $20 million Series A-4 funding round for the 3D character studio Superplastic, which creates “synthetic celebrities,” vinyl toys, and has previously released NFT collections on Ethereum and partnered with Gucci and Epic Games. • The European Central Bank expects EU banks to introduce limits on their crypto holdings even before the Basel Committee on Banking Supervision’s global standards come into force in 2025. [Screenshot 2023-02-16 at 06.45.30] [Start Trading](113/cXx8Z04/VVTVSK2qt-MdN5tcg5yL0-JTW1xTZ7Q4X4dDLN89-Qzy2-MK5V1-WJV7Cg-q7N2XsSWg90yYnW8sfPHb2wsQyqW5FRf4g1znR8ZW8HJMjF6MBrdKW161BJr7zkxNsW1kg18H7_qmkSW1YwPgZ6647T8W2dmLph3TWRCKW5Yd3lJ5J4gNVW72p5VL6v5q3HW5TmX0b20RM_VW82zhFT3vVsZSW5Dd7HL50J_RGW3twzF84qxFvfW4JpMs-1gk62pW8Lmlst1Vq0NhW8zT6Zn34R1cdW8nWGf31KYQtSW7ZJzgG6BhQdlW7NL7Rf34wknq3l9P1) Market Recap The US dollar rose to a six-week high against a basket of currencies on the back of strong retail sales data, increasing investor expectations that the Fed would continue the tight monetary policy to tackle high inflation. This increased the yield on 10-year Treasury notes by five bps to 3.81%. However, despite the initial dip, equity markets rebounded on the hope of better economic prospects, led by high-beta stocks such as Airbnb, Roblox, and Analog Devices, with support from mega-cap companies like Alphabet and Tesla. Oil fell slightly, while cryptocurrencies surged more than 8%. This morning, S&P500 futures are little changed as the index completes its now 11 sessions consolidation range. The dollar has slightly weakened in anticipation of the release of PPI and jobless claims data, while Bitcoin has seen another 1% overnight gain. The market awaits to see if the bulls can break above the 25k mark. Chart Of the Day The pound took a bit of a dip. Word on the street is that investors are speculating that the Bank of England may hit the pause button on hiking interest rates soon, as price increases surprised to the downside. [Screenshot 2023-02-15 at 11.22.59](113/cXx8Z04/VVTVSK2qt-MdN5tcg5yL0-JTW1xTZ7Q4X4dDLN89-Qzf2-MJQV1-WJV7CgJTSW4jJq-l3V-lvFW5Dx5xw2chn25W4jsSXp4Mpf_yN2Pr8mr18gBpW2F1kqy2-xk8YW5xYgtD3S9tLVW1hdXpP90H35lW3xVqmq86kSMmW34Ssjx908w-vW4xQLxR6yYGqCW8tH9MZ2S563RW6wh6WL3tB-NcW3Q_HHS1lSzsZW3BdFrL3Y6_RtW3Q-dtw1zDsLXW7vV4ZS3gGdzWW7SwMtT5ZjQDWW1lpTYl1DKQ4h3bxy1) FlowBank Blog The Dollar: A Surprising Comeback in the Making [us-dollar-forecast-2023](113/cXx8Z04/VVTVSK2qt-MdN5tcg5yL0-JTW1xTZ7Q4X4dDLN89-Qzf2-MJQV1-WJV7CgRk0W1w6Vnj17l93lVP5FKX31kqJ_W38VVH872nvNvW89klFz7w8nq1W7YYQVg5dZ0GZN6m2lWymzLFWN7P9L0tYH1T_W2S129l66S_gMW4GHdYy82Yx3QW7MMYl031jnSpW5sMQYB5_F05WW4VHLMt2JrYwqW5qfd0b3CckyjW1j6ztk5QgF8YW6bHt3N8L3r9qW5yrjnv7dbv3qF63sjG3sp6yW5tm2s79d8Qz336_Z1) The dollar has been on a surge and this has raised concerns in the financial markets about the implications for global economic growth. What are the reasons behind the recent dollar's surge, its outlook and its implications for the stock market? 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