Apple supplier Foxconn misses 💻 This week: NFP, Powell & RBA 💼 Gold above $1833 🏅

FlowBank's hand-curated fresh financial news [header_noDither] 06.03.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [apple logo] Apple supplier Foxconn reported an 11.7% drop in February sales YoY owing to weak consumer demand. Revenue in February was $13.18 billion as operations resumed after Covid disruptions last year. Attention is on how the popularity of the iPhone holds up as overall smartphone demand falters globally. [Start Trading](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB06k2-MK5V1-WJV7CgD3lVyD4s-8rtkzFW6-wHbT3m0cQ2VZk7K32lQ-7XW3JwtWW2Kk3g1W4m903r6FmwlxN5yR048mxH77W6V4Dy-43-lszW86D-bn5lY6DMW8zxfVP267lh4W3jpqLK1g0j5LVWgvWj5hSpL4VJBw591sDX0mW2JBg4194Pht7W12Sw1-6DyFQkW5hHVjM1jZr6hW6jkSxn8Zh792W93h0yR1YL_SpN6ytkk96QFMPW86jCRy5FRNJ7W7B9Zvv1CtNZv372J1) Trader's Corner In focus this week • Friday's US non-farm payroll report will be the last before the March FOMC meeting. It comes after January's report smashed forecasts and prompted investors to price in higher interest rates for longer. • Federal Reserve Chair Jerome Powell will testify before Congress. His comments will be closely scrutinized. Hawkish comments could pull stocks and gold lower. Watch Gold support at $1833, the December low. • Of the 3 major central banks announcing interest rate decisions this week, the RBA meeting could be the most "live", with no changes expected from the BoC & BoJ. Could another hike push AUD/USD over its 200 DMA at 0.68? Economic data this week • RBA, BoC & BoJ meetings, • US Non farm payrolls • EZ retail sales, Switzerland CPI • US factory orders, UK GDP • Canada Ivey PMI, EZ GDP Earnings this week • Ashtead, AVIVA, Entain • Deutsche Post, DocuSign • Crowdstrike, Gap, Oracle • Henkel, JD.Com, Darktrace [Start Trading](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB06k2-MK5V1-WJV7CgZ1cW6n360_6KBxJyW35KM2d1kBysBW6ZmTRX2J1dp1W4nwvD64qXjRTW1R0Tq08KS7XcW2hXdtT3c_JKkW3-PHZL3dkPRBV1RBFx3gy4HjW5LvVRx124CmNW8CNqN54rdg4pM8yPR4YnXPpW5X3PMV1GmFtbVBn7M16BCbHBW6W8stg91_C0qW1dJT792G220xW64zrGS4GFTbnW3lDCv78mWLWXW6n8rzS3MHNF7W2H-tGd98gKwCW7mKzhx9hRfrH3bM91) Market Recap European stocks rallied last week, boosted by optimism surrounding the economic recovery in China, where both the services and the manufacturing sectors rebounded impressively in February. The euro rose as the market priced in a 4% ECB terminal rate. Stocks on Wall Street also gained last week after 3 straight weeks of losses, and the Dow Jones posted its first weekly rise since late January, despite rising treasury yields. US ISM services PMI showed that the US economy is holding up remarkably well. This morning, S&P 500 futures are slightly higher ahead of a busy week on the markets and as investors position for Fed Chair Powell's testimony on Tuesday. Chart Of the Day The S&P 500 rebounded strongly off the lows at 3,960. It still has stronger technical support lower at around 3,900. [SPY 3323](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB0612-MJQV1-WJV7CgMFKW8MMQJD4Wr6MsW91XmwD1pJW7ZW7fBGFg5ZYmbKW3NVgMN4C3cxLN3mnKShTCy9fVBc0GY7SFkNJW1wHyM41n6WBZW2Q11Gn8Q-MB9V5PTPd87-zBNW7FTcx57gXtL7W10GFmn4skkG2W1-k48W2n08rXW3gptgb1TSKFNW3sGlwr7tQWYQN5mHVfDCtbtpW45qDk_1P1xrKW6sKzxg6-hCMzW64Hn7776lNw638wz1) Highlight from our [LinkedIn](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB0612-MJQV1-WJV7CgZMDW7yV4WW2n5-ydN7dDMM68xG53W2zyq5Q7QGWSvW5kbC7g1yy7SqW13bdtn1kg9jdW83l36X2qPbDkW1TKfjr8TQFGCW81yL0Y7J9b4JW376lQ_89lpg2W28DSLL4jj7PyW8vkWbN4Vk1lHW1fXdMx48S6MHW1lDJV_7jVB71N5WZwf54cFpQW2jQlrL1Nnqz9W52ymKP3sSNKYW5jrb7_6B4FthW2-DzwK630zJ438_F1) page Top 10 Largest Renewable Energy Companies 🔋 McKinsey forecasts that by 2035, renewables will generate 60 percent of the world's electricity❗ Is renewable energy an interesting sector to invest in? ⁣ Click [here](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB0612-MJQV1-WJV7CgJdyW4zM7hM11fzRtW3J0Hnw1nqY1lN427y6sJm0dfN73cmNvZxyc_W4_0gP07z8Kw5N87DHNj_4DJWMcv397--LqzV87qb-3JrY2XVXk3hd8qTB_pW8TvG-M3Lsxd4W6MFFjL4Xl8NTW5xHj-C387ThTW1FbnwB4LMSFwW3Ms01s14K6WwW38h2f12fHhvbW1nxjSY2SMXQ4W36vvD63PVTXCW4M0cl56n7YS93mYR1)to read more. [Renewables infographic](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB0612-MJQV1-WJV7CgK94W3M6D4j1WRx3vW7-NrCX4Y4MwbVn7hpt4_S2ZSW2lNmVM5ytJz3VF8kVy5YXqsFW1435qn1cxlD-W8nSpCJ4whgBMN2K101X8csDCW2nw1rT4jm9xSW13zwfF94GcsKW66-NfX7QG0stW3Njxbf9dqNzyN12zQ2RjkQBcN3ksD6yvnKm6MzvTP66bfybW3ZP1YD2gdp7NV7t-278SQ5xHW8SD0lg82_PK93kw81) [LinkedIn](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB0612-MJQV1-WJV7CgXm8W8WMbYd8KSBVlW3Jf8sr8R8xLWW6M1MlZ6GVB5DW7c9SVt7B7cwyW4DjC0t5HMGMMW3Jwyz31Zrf_4W2cH3tL2j-ZRFN6kD6csLvRpYV7klYv53QJnnVN9T475_VczrW6-JShN3ZgxrSW2HYp6b7P4SNSW1JD3VS4hscTwW9lMszR66cpbvN3KDgG_f0P8ZW5y5GtV2xMlKQW921lkC39J5C1W8CYh6Q28WRpd3fbv1) poll: What is the optimal number of stocks to hold? [Vote here, we want to hear from you!](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB06D2-MKpV1-WJV7CgCsHW4l_3qc4DM5WWW7S8gV05r4MN9W7pgnYz4P9Y6KW6x-WhJ48_nDlW31kfkH6TQztjW78RH5M2sK50BW2bnVxM5vhGbDVgPV004NYbHNW71MjQh4kFS9SW4NcmCq8GyF1WV13hWF38FrxwW3Yr45M6j6hrtW8r6WFt5rtSvGMjFPdljhGVZW2k_MT478ZV01W47lSvt7y3xW8N1s6Ptcn4hRfW73_kQB7C6jVLW76FrHK2zzx-kW1KgHXD6GGsz0N6XlV3WH5ZfjV2gbf28k4YV238wj1) Our poll last week: 71% voted TESLA is overvalued. 170 votes FlowBank Blog Nokia's Right to Repair [phone image](113/cXx8Z04/VXkBL-9jsPngW8CJThL4rQYjPV_gMC14XPQ3PN8LB0612-MJQV1-WJV7CgW85VSW9bl4x_VfxN36_5HP3Z1WpW4Rnr7l4Q6YDjW1vMNV02kZ2PpN8BNYrChLX62W8nrCGv3dJqLjM8D8Gmp01XPW5x1gQC7mSfsBW1lFz5h2S-S2zW2CJg1791lj8YW58mLjH488-PgVjQqFD8ntwgmW2Wh9YX5rQTpDW43nPwJ8GMjdxW25ZTzM5zGL06V9L_jJ1vS6NQW80vkbT6vyJ_qW2shs5X1pxLNP2VN1) Nokia's latest smartphone can be easily dismantled and repaired as "right to repair" demand increases. But does this pose a risk to revenue? 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