Bank of America: Sharp Decline in U.S. Dollar Buying Positions: According to a recent Bank of America Securities report,
U.S. dollar buying positions have seen a significant 40% decrease amid ongoing volatility in the foreign exchange market.
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Slowdown in Russian Economic Growth
Bank of America: 40% Decline in U.S. Dollar Buying Positions
According to a recent Bank of America Securities report,
U.S. dollar buying positions have dropped sharply by 40% as foreign exchange market fluctuations persist.
Analysts noted in a March 5 report that foreign exchange positions
have experienced significant shifts since the beginning of the year.
The U.S. dollar initially held strong buying positions,
particularly against the Canadian dollar, Swiss franc, and Swedish krona.
However, despite continued dollar purchases, positions have been significantly reduced compared to earlier levels.
The report explained that hedge funds and institutional investors
have started selling off the U.S. dollar after substantial purchases during Q1,
reflecting growing uncertainty about U.S. economic policies and concerns about slowing growth.
The overall market trend shows an increase in long positions on the Australian dollar and Japanese yen,
alongside the U.S. dollar, while positions on the Canadian dollar,
emerging market currencies, and the Swiss franc were reduced.
Additionally, investments in the yen have increased, albeit to a lesser extent for the euro,
while U.S. dollar buying positions declined, and short positions on the Canadian dollar were adjusted.
Russian Economic Growth Slows to 3% in January Amid Expectations of Further Decline
On Wednesday, the Russian Ministry of Economic Development announced
that the country’s GDP growth slowed to 3% year-on-year in January, down from 4.5% in December.
The Russian economy had seen strong growth after a brief contraction in 2022,
following unprecedented Western sanctions imposed on Moscow due to its invasion of Ukraine.
However, forecasts suggest further economic slowdown this year as the impact
of increased government spending on the defense sector begins to fade.
The Russian Ministry of Economic Development expects annual GDP growth to reach 2.5% this year.
At the same time, the Central Bank of Russia has taken a more cautious stance,
estimating growth between 1% and 2% amid ongoing economic and geopolitical pressures.
Marvell Technology Stock Drops 16% Despite Beating Earnings Estimates
Marvell Technology’s stock experienced a sharp decline after the U.S. market closed despite
The company reported quarterly earnings that exceeded analysts’ expectations.
The Nasdaq-listed stock fell 16.15% in after-hours trading as of 12:41 AM Thursday (Mecca Time)
despite closing Wednesday’s session up more than 2%, ending at $90.14 per share.
The company announced Q4 revenue of $1.82 billion, exceeding expectations of $1.8 billion.
Adjusted earnings per share (EPS) were $0.60, beating analysts’ estimates of $0.59 per share.
Bank of America: Sharp Decline in U.S. Dollar Buying Positions