On November 14, Bas Kooijman, CEO and Asset Manager at DHF Capital, appeared on CNBC Arabia to discuss the current dynamics in the gold market.

In this interview, Bas highlighted an 8% decline in prices over two weeks and attributing the movement to post-election market adjustments and the strengthening U.S. dollar. He emphasized that gold prices are likely to be influenced by geopolitical tensions in Gaza and central bank decisions to increase gold reserves. Additionally, he highlighted Tesla’s significant stock gains, suggesting that in the current climate, gold may offer a safer investment alternative to high-risk assets.

Watch here: <a href="https://www.youtube.com/watch?v=z4E78klnIV8" target="_blank"> YouTube </a>

Bas Kooijman's interview for our arabic audience.

DHF Capital's CEO and Asset Manager, Bas Kooijman, appeared on Sky News Arabia where he talked about Federal Reserve interest rates cuts, the gold market and the U.S. financial markets.

Watch full video on <a href="https://www.youtube.com/watch?v=5akIeQTopU8" target="_blank"> YouTube </a>

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(AR) Bas Kooijman's interview on Sky News Arabia: Financial Markets

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DHF Capital's CEO and Asset Manager, Bas Kooijman, appeared on Sky News Arabia where he talked about the current gold market. 

He noted that gold faced a downturn on Monday, January 8, 2024 with its price falling 0.79% to $2,022. He also highlighted physical gold as a safe haven and expressed the importance of having physical gold as an asset. In addition, he underscored the importance of physical gold as a safe haven asset and mentioned that gold is currently a relatively stable market.

Watch on: <a href="https://youtu.be/8Q61kCHEVfs" target="_blank"> YouTube </a>

(AR) Bas Kooijman's interview on Sky News Arabia: Gold market news

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(AR) Bas Kooijman on CNBC Arabia: Current dynamics in the gold market

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Gold continues to decline for the fifth consecutive day, reaching its lowest level since early September. Elevated yields and a stronger U.S. dollar weigh on gold prices, both of which have strengthened in the wake of Trump’s victory. The Trump administration’s focus on significant economic growth, tax cuts, and increased tariffs could spur inflation and potentially prompt the Federal Reserve to exercise caution in its easing cycle and rate cut projections.

In the near term, the outlook for gold remains bearish as markets await the release of PPI data and weekly jobless claims, followed by retail sales data on Friday, which could further influence sentiment, particularly regarding the December Fed meeting.

Looking ahead, gold could retain potential for recovery over the medium and long term due to concerns over fiscal deficits and trade tensions in addition to geopolitical tensions, which could elevate uncertainties and drive demand for safe-haven assets.

Source: <a href="https://londonlovesbusiness.com/gold-dips-on-rising-yields-markets-reassess-monetary-policy-direction/" target="_blank"> London Loves Business </a>

Gold prices are rising to unprecedented levels, supported by central bank purchases as well as geopolitical concerns and monetary policy expectations. The upward momentum was sustained by expectations of multiple interest rate cuts by the Federal Reserve this year, although optimism was tempered by recent US nonfarm payroll and inflation data. Looking forward, market participants are anticipating the release of key US inflation figures and the minutes from the FOMC meeting on Wednesday to gauge the likelihood, timing, and amplitude of interest rate reductions by the Fed. The data could introduce volatility to the precious metals market. Central bank purchases, especially by China, remain a major supporting factor for gold, with other emerging markets institutions such as the Indian central bank also bolstering their reserves of the yellow metal. Despite reaching peak levels, gold prices remain supported by solid demand, evidenced by rising net long positions. However, following its strong surge, gold could be exposed to price corrections over the short term in particular if Wednesday's US data comes in stronger than expected.

Sources: <a href="https://www.investorideas.com/news/2024/mining/04092MarketAnalysis-Gold-Prices.asp" target="_blank"> Investorideas.com </a>

<a href="https://londonlovesbusiness.com/central-banks-drive-gold-prices-to-record-highs-amidst-uncertainty/" target="_blank"> London Loves Business </a>

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Central Banks Drive Gold Prices to Record Highs Amidst Uncertainty

This article was published on December 4th, 2023.

In early Asia-Pacific trading on Monday, COMEX gold futures stood above the $2,150 per ounce mark, continuing to hit a record high, while spot gold short-term also soared to $2,144 per ounce, refreshing the all-time high set in May this year.

In addition to gold, other precious metals also rose: COMEX silver at $26.06 an ounce, up 0.79%, close to a six-month high, NYMEX platinum at $946, up 1.06%, close to a new high of about a year, and NYMEX palladium rose 0.55% to $1,016 an ounce.

Market analysts believe that the biggest driver behind this round of gold price breakthrough may be the bet on the Federal Reserve to cut interest rates, and other factors that push up include geopolitical factors, ultra-strong buying by global central banks, etc. Looking ahead, analysts believe that gold will still be able to maintain its rally next year, and even not only gold, the market will usher in a wave of cross-asset rallies in anticipation of the Federal Reserve's interest rate cut.

What's driving it?

Prior to this breakout, gold had been consolidating for three years, and this was the third attempt in three years to hit $2,100 an ounce. A series of recent U.S. economic data releases have been weaker than analysts expected, and inflationary pressures have continued to ease, reinforcing market expectations that the Federal Reserve has ended its interest rate hike cycle and will start cutting interest rates next year.

The ISM manufacturing index in the United States in November was 46.7, with an expectation of 47.6 and a previous value of 46.7, unchanged from October and lower than market expectations. Kaiyuan Securities said that the two major PMI systems gave a PMI lower than the boom and bust line for the U.S. manufacturing industry in November, further increasing the market's expectation that the Fed's current interest rate hike cycle has ended, and even may start to cut interest rates as soon as March 2024, so gold prices have been supported.

Kyle Rodda, a senior market analyst at Capital.com Melbourne, also said: "The market is betting heavily on the Fed to cut interest rates. And gold prices will also move higher when there are early signs of a recession. This will push the price of gold to continue to rise. ”

UBS expects gold to hit new highs in 2024 and 2025 due to Fed rate cut expectations and falling real interest rates. UBS believes that the Fed will cut rates in the first quarter of 2024, and if it pauses in December this year, this will continue to confirm the Fed's preference to cut rates around 6 months after the last increase. UBS observed the performance of gold after the Fed's previous rate hike cycles and found that gold prices tend to fall by 2% or so in the last 3 months or so after the end of previous rate hike cycles, but will rise by 7% in the next 6 months.

In addition, UBS also said that real interest rates are also a major driver of gold prices. Although the degree of correlation between the two will change over time, there is always an asymmetry in the relationship. UBS found that for every 100 basis point decline in the 10-year Treasury real rate, gold would rise by 11%, but at the same rate of gain, gold would fall by only 4.2%. Based on this, UBS believes that gold rebounds more when interest rates fall than when interest rates rise. Gold's sensitivity to real yields has declined this year relative to historical levels, but this asymmetry remains, making gold an attractive alternative outside of the bond space, and it is expected to continue to benefit if real interest rates fall in the year ahead. UBS also found that when real interest rates fall below 1.25% and continue to fall, gold prices rise even more, reaching 14%.

In addition, geopolitical factors are also pushing gold prices higher in the short term. For example, fears of further tensions in the Middle East are rapidly rising, and the resulting safe-haven buying has provided support to gold prices.

Bas Kooijman, chief executive of DHF Capital and asset manager, said the escalation "helped extend the upward trend in gold over the past two months" as the market reacted to the escalation of tensions in the Middle East. At the same time, he said that traders have also been betting on the end of the rate hike cycle and the possibility of a rate cut in the first half of next year, which could continue to support the rally in gold prices in the medium term.

In addition, global central banks are also continuing to buy gold, which also has a supporting effect on gold prices. According to data released by the World Gold Council, global central banks bought 337t of gold in the third quarter of 2023, the third highest quarterly net purchase on record, and in the first three quarters of this year, global central bank demand increased by 14% year-on-year to a record 800t.

UBS said that while these gold flows are unlikely to drive price increases on their own, they will continue to play a key role in holding the market up and supporting the overall upward trend.

Can the cross-asset rally be sustained?

In fact, the rally is by no means limited to gold. As traders widely believe that the Fed's current interest rate hike cycle is over, global stock and bond markets have also collectively soared since November. The S&P 500 rose 0.8% last week to close at its highest level since March 2022. The Dow Jones also rose sharply 2.4% last week, moving higher for the fifth straight week and its longest winning streak since late 2021. Meanwhile, the yield on the 10-year Treasury note fell to 4.225%, its lowest level since early September. The yield on the 2-year Treasury note, which is most sensitive to interest rate expectations, posted its biggest weekly drop last week since the collapse of Silicon Valley Bank in March. Bitcoin also hit $40,000 today for the first time since May 2022.

At the moment, there seems to be a consensus in the market that interest rate cuts will be the only matter of when, and how much, will be divided. If the Fed does cut interest rates as soon as March next year and then proceeds with more quantitative easing, analysts expect all assets to hit record highs.

Fed Chair Jerome Powell's recent statement that the Fed's policy setting "has penetrated deep into restrictive territory, implying tight monetary policy" is slowing economic activity, his strongest signal to date that the current rate hike cycle is over. But Powell's comments were also cautious, saying that "it is too early to confidently conclude that we have taken a sufficiently restrictive stance." But regardless of whether Powell is sending a "dovish" or "hawkish" signal, the market seems willing to interpret it as "dovish". After Powell's speech, the rally in Treasury yields lasted only a few seconds before continuing to fall. COMEX gold futures then rose to a record high on Friday.

From the perspective of the pricing of the interest rate market, at the point of interest rate cut, the market has fully priced in the Fed's interest rate cut in May next year, and the betting probability of a rate cut in March next year has exceeded 50%. In terms of the magnitude of rate cuts, the current market expectation is that the Fed will cut rates by at least 125 basis points next year, which is equivalent to five 25 basis point rate cuts, a bet that seems to have paved the way for a further decline in Treasury yields and a continued rebound in equities, bonds and commodity markets.

It is also worth mentioning that at the moment the market is not only betting on the Fed to cut interest rates. According to market participants on interest rate swap contracts, traders have fully priced in the timing of the first rate cuts by many other central banks. Specifically, the market is betting that the European Central Bank, the Bank of Canada will cut interest rates for the first time in December next year, the Federal Reserve in May next year, the Swiss National Bank and the Bank of England in June next year, the Reserve Bank of New Zealand in August next year, and the Reserve Bank of Australia in December next year.

Quincy Krosby, an analyst at LPL Financial, said: "While both the Fed's doves and hawks seem to revolve around a more 'cautious' approach to policy and acknowledge that policy is still appropriate, the market clearly disagrees. She said the market's belief that the Fed made a dovish decision in November and will begin a rate-cutting cycle by mid-2024 (or even earlier) refuted the slogan that rates are "higher and longer".

However, some institutions are worried that the "dovish" bet will be frustrated again. According to Deutsche Bank, this bet is the seventh time in this tightening cycle that market participants have bet on the Fed to turn "dovish", and the previous six have ended in failure.

Shane Oliver, head of investment strategy and chief economist at AMP, wrote in a note to clients: "The sharp rally in U.S. equities has left them technically overbought and at risk of a correction or short-term pullback." But he also admitted that "as inflation continues to ease, U.S. stocks are likely to rise further towards the end of this year and early next year," and that the seasonal tailwinds for the market will begin to show later this month.

This week, a series of economic data will test the market again, especially Friday's non-farm payrolls data. Economists polled by the media expect new nonfarm payrolls to rise to 200,000 in November from 150,000 in the previous month as workers from previous strikes return to work. The unemployment rate is expected to hold steady at 3.9%, while wage growth is expected to slow slightly to 4%.

Sources: <a href="https://www.laitimes.com/en/article/661d4_6mdo5.html" target="_blank"> LaiTimes </a>

<a href="https://www.tellerreport.com/business/2023-12-04-gold-prices-hit-a-record-high-after-three-years-of-consolidation!-what-s-driving-it-.ryZAsngiBT.html" target="_blank"> Teller Report </a>

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Gold prices hit record highs after three years of consolidation!

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Gold dips on rising yields, markets reassess monetary policy direction

Door Bas Kooijman, CEO en vermogensbeheerder, DHF Capital SA

De Amerikaanse aandelen schoten deze week omhoog na de positieve respons van investeerders op de overwinning van de Republikeinen in zowel het Congres als het Witte Huis. Deze zogenaamde "red sweep" zorgde voor een optimistische stemming, doordat het komende beleid naar verwachting gunstig zal uitpakken voor de bedrijfsgroei door belastingverlagingen, minder strenge regels en andere economische stimulansen. 

De grootste stijging van deze week, namelijk 8,57%, was te zien in de small-cap Russell 2000 Index, hoewel die nog wel 2,41% achterblijft bij het record van november 2021. De S&P 500 Index steeg met 4,66% en beleefde daarmee de beste week van het jaar. Beleggers laten met dit enthousiasme zien dat ze meer winst verwachten en hopen dat veranderingen in het fiscale beleid stimulerend zullen werken op economische expansie.

De Chief U.S. Economist van T. Rowe Price, Blerina Uruçi, bood tijdens een webinar die onlangs gehouden werd een inkijk in de mogelijke economische gevolgen van een regering onder leiding van Trump. Ze wees erop dat de voorgestelde beperkingen op immigratie en verhoogde tarieven zouden kunnen leiden tot meer inflatiedruk, hoewel het nog niet duidelijk is hoe een dergelijk beleid precies zal uitpakken. Uruçi merkte ook op dat een sterkere dollar het inflatoire effect zou kunnen opvangen, vooral als die gepaard gaat met belastingverlagingen en versoepeling van de regelgeving die onder de nieuwe regering worden verwacht. Op korte termijn zou dat een netto positief effect kunnen hebben op de economische groei.

Verder kondigde de Federal Reserve deze week een renteverlaging van 25 basispunten aan; de eerste sinds half september. Deze verlaging is bedoeld om de economische stabiliteit te handhaven ten tijde van politieke veranderingen. Daarbij sprak Fed-voorzitter Jerome Powell geruststellende woorden door erop te wijzen dat de beslissingen van de Fed onafhankelijk zullen blijven. Powell benadrukte dat de Fed ernaar streeft om beleidswijzigingen strikt te baseren op economische gegevens en wilde niet speculeren over mogelijke gevolgen van de verwachte fiscale maatregelen. Op de Amerikaanse obligatiemarkt was sprake van tegengestelde bewegingen als reactie op deze gebeurtenissen. De rente op schatkistpapier viel deze week lager uit en de verlaging van de rente was van invloed op de opbrengsten op middellange en lange termijn.

Op de Europese aandelenmarkten waren de resultaten deze week minder positief en de pan-Europese STOXX Europe 600 Index eindigde 0,84% lager. Het beleggerssentiment werd getemperd door bezorgdheid over mogelijke verschuivingen in het Amerikaanse handelsbeleid die wel eens negatief zou kunnen uitwerken op de Europese economische groei. De belangrijke indices in de regio, waaronder de Italiaanse FTSE MIB (-2,48%), de Franse CAC 40 (-0,95%) en de Duitse DAX (-0,21%), daalden als gevolg van de onzekerheid over Amerikaanse tarieven en wijzigingen in het handelsbeleid. De Europese centrale banken namen ook belangrijke beleidsmaatregelen in reactie op vertragende groei en inflatie. De Bank of England (BoE) verlaagde haar basisrente met 0,25 procentpunt naar 4,75%. Gouverneur Andrew Bailey van de BoE waarschuwde ervoor dat deze nog meer kan worden verlaagd als de economische cijfers verder verslechteren. Ook de Zweedse Riksbank verlaagde haar basisrente naar 2,75% in reactie op een stagnerende economie en een vertragende inflatie en wees op dezelfde mogelijkheid.

In de eurozone betekende de herziene index van inkoopmanagers (PMI) voor oktober, met een lichte stijging naar 50 ten opzichte van een eerste schatting van 49,7, gemengd nieuws. Volgens deze herziening was er sprake van stagnering van de economische activiteit in plaats van een daling. De dienstensector maakte een bescheiden groei door, terwijl de verwerkende industrie langzamer kromp dan verwacht. Toch blijkt uit het ondernemersvertrouwen, dat in de hele eurozone is gedaald naar het laagste niveau van het jaar, dat onzekerheid overheerst.

Op de Aziatische markten, met Japan en China in het middelpunt, waren de trends gemengd maar over het algemeen positief. De Japanse Nikkei 225- en de TOPIX-indexen stegen respectievelijk met 3,8% en 3,7% en het beleggerssentiment werd gestimuleerd door de renteverlaging van de Fed en de hoop op stabiliteit in de handel tussen de VS en Japan. Ondanks enige onzekerheid door de sterkere yen gaf Atsushi Mimura, de Chief Currency Official van Japan, aan dat de overheid maatregelen wil nemen in verband met de marktvolatiliteit. Analisten verwachten dat de Bank of Japan (BoJ) al in januari 2025 met een verhoging van de rente komt, na aanwijzingen dat de economische activiteit verdere aanscherping kan rechtvaardigen.

Uit de economische cijfers uit Japan blijkt terughoudendheid, aangezien de reële lonen in september op jaarbasis 0,1% lager uitvielen, nadat ze eerder, in augustus, al met 0,8% waren gedaald. Ondanks een nominale loonstijging van 2,8% kon deze de inflatie van 2,9% niet bijhouden, waardoor gezinnen 1,1% minder te besteden hebben, en dat terwijl een daling van 2,1% werd verwacht. Deze cijfers geven aan dat het moeilijk blijft om de binnenlandse vraag te stimuleren, ook al zijn de ontwikkelingen over de hele wereld gunstig voor de Japanse export.

In China stegen de aandelenmarkten nadat er nieuwe stimuleringsmaatregelen waren aangekondigd die tot doel hebben de schulden van lokale overheden te beheersen. De Shanghai Composite Index steeg met 5,51% en de CSI 300 met 5,5%. Dat duidt erop dat men verwacht dat deze inspanningen de financiële risico's zullen beperken. Het hoogste wetgevende orgaan van China, het permanente comité van het Nationale Volkscongres, lanceerde een herfinancieringsprogramma van 10 biljoen RMB voor lokale schulden en verhoogde het schuldplafond tot 35,52 biljoen RMB. De Minister van Financiën, Lan Fo'an, beloofde meer fiscale steun om de economische groei in 2025 te bevorderen, in deze tijd van wereldwijde onzekerheden.

Samenvattend kunnen we stellen dat de wereldwijde markten zich aanpassen aan belangrijke politieke veranderingen en de publicatie van economische gegevens en dat beleggers de mogelijke gevolgen van beleidswijzigingen in de VS nauwlettend in de gaten houden.

Source: <a href="https://www.financialinvestigator.nl/en/research-detailpagina/2024/11/11/dhf-capital-wereldwijde-markten-passen-zich-aan" target="_blank"> Financial Investigator </a>

This article was published on August 22nd, 2024.

DHF Capital SA, een toonaangevende financiële instelling gevestigd in Luxemburg die een breed scala aan financiële producten en beleggingsoplossingen aanbiedt voor institutionele en welgestelde particuliere beleggers (HNWI), kondigt met trots de viering van een belangrijke mijlpaal aan: vijf opeenvolgende jaren van positieve maandelijkse rendementen met hun Alpha Strategy. In het afgelopen half decennium heeft de Alpha Strategy elke maand een positief rendement opgeleverd. Dit weerspiegelt DHF Capital's toewijding aan het leveren van consistente en betrouwbare beleggingsoplossingen, zelfs in uitdagende marktomstandigheden.

Naast het opmerkelijke succes van de Alpha Strategy is DHF Capital trots te kunnen melden dat zowel het DHF Gamma Fund als het DHF Forex Fund beter hebben gepresteerd dan de hedgefondsindustrie, die een gemiddeld rendement van 5,7 % heeft voor de eerste helft van 2024. Dit sectorgemiddelde werd onlangs gerapporteerd door Goldman Sachs en benadrukt de uitzonderlijke prestaties van de fondsen van DHF Capital in een zeer concurrerende markt.

“Deze mijlpaal is een bewijs van de kracht van onze beleggingsstrategieën en de expertise van ons team”, zegt Bas Kooijman, CEO en assest manager van DHF Capital SA. “In een marktomgeving die ronduit uitdagend is geweest, is de consistente prestatie van onze Alpha Strategy, om maand na maand positieve rendementen te leveren, een duidelijke indicator van de waarde die wij onze beleggers bieden. We zijn trots op onze prestaties en blijven ons inzetten om onze klanten innovatieve en veerkrachtige financiële oplossingen te bieden.”

Het succes van DHF Capital in de afgelopen vijf jaar benadrukt de aanhoudende toewijding aan het behalen van superieure beleggingsresultaten voor haar klanten. De uitgebreide reeks beleggingsstrategieën van het bedrijf, waaronder de Alfa-, Gamma- en Forex-fondsen, blijft voldoen aan de geavanceerde eisen van institutionele en welgestelde beleggers wereldwijd.

Nu DHF Capital deze opmerkelijke prestatie viert, kijkt het bedrijf ernaar uit om verder te bouwen op haar succesvolle nalatenschap door het aanbieden van geavanceerde financiële producten en beleggingsoplossingen die consistente waarde leveren aan haar klanten.

Source: <a href="https://www.ondernemersbelang.nl/nieuws/dhf-capital-viert-vijf-jaar-onafgebroken-positieve-resultaten-met-haar-alpha-strategy/" target="_blank"> Het Ondernemers Belang </a>

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(NL) DHF Capital viert vijf jaar onafgebroken positieve resultaten met haar Alpha Strategy

(ABM FN-Dow Jones) De valutamarkt zal deze week vooral aandacht hebben voor de banencijfers, met name het Amerikaanse banenrapport van vrijdag. Dat stelde Rabobank maandag.

De euro/dollar stond aan het einde van de ochtend 0,1 procent hoger op 1,0573.

"*Zal de banengroei weer boven de 400.000 uitkomen?*" is volgens marktanalist Teeuwe Mevissen van Rabobank de voornaamste vraag voor valutabeleggers. Een sterke banengroei wijst op een sterke economie, en betekent dat de Federal Reserve de rente langer hoog moet houden om de economie en daarmee de inflatie af te remmen.

Het sentiment lijkt niet te worden beïnvloed door het Israëlische grondoffensief dat sinds het weekend is ingezet in de Gaza-strook, aangezien de euro/dollar iets hoger staat dan voor het weekend. Geopolitieke onrust vertaalt zich doorgaans juist in een sterkere dollar.

Ook de rentemarkten vertonen maandag weinig opvallende bewegingen volgens Mevissen. 

Behalve het banenrapport zulllen ook rentebesluiten van centrale banken, waaronder de Federal Reserve en Bank of England, voor beweging kunnen zorgen. 

Rabobank blijft verwachten dat de euro/dollar in de komende drie tot zes maanden tot een niveau rond 1,02 zal dalen, om over 12 maanden weer terug rond 1,05 te komen.

Bas Kooijman van DHF Capital verwacht dat de dollar rond het huidige sterke niveau blijft in de komende maanden, maar dat een daling van de obligatierendementen de koers van de dollar onder druk zal zetten.  

Economisch nieuws is er maandag over de Nederlandse producentenprijzen in september en het producentenvertrouwen in oktober, dat negatief bleef, hoewel iets minder dan een maand eerder. Ook is er een cijfer over het consumentenvertrouwen in de eurozone en een voorlopig Duits inflatiecijfer.

Dinsdag volgt een voorlopig inflatiecijfer voor de eurozone. Ook zijn er later in de week inkoopmanagersindexen voor de industrie uit verschillende regio's.

De Duitse economie bleek in het derde kwartaal licht gekrompen met 0,1 procent. In het tweede kwartaal groeide de Duitse economie juist nog met 0,1 procent, na een pas op de plaats in het eerste kwartaal.

Source: [beleggen.nl](https://www.beleggen.nl/nieuws/783893/Valuta-aandacht-gericht-op-Amerikaanse-banenrapport.aspx)

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(NL) Valuta: aandacht gericht op Amerikaanse banenrapport

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(NL) DHF Capital: Wereldwijde markten passen zich aan

This article was published on November 7, 2024.

While Walmart is a household name worldwide, few people truly know the story of Sam Walton, the visionary entrepreneur who founded it. Walton’s journey provides valuable lessons for high-net-worth individuals (HNWIs) looking to build and maintain generational wealth. His strategic decisions, frugality, and unwavering commitment to long-term goals offer a roadmap for those seeking to replicate his success.

**Beginnings and Early Lessons**

Sam Walton was born in 1918 in Oklahoma during an economically challenging time in U.S. history. Growing up during the Great Depression, Walton developed a strong work ethic and a knack for frugality, which would later be instrumental in his success. He purchased a Ben Franklin variety store in Arkansas in 1945, armed with a $20,000 loan and $5,000 in savings. By implementing innovative practices like discount pricing and extended hours, Walton quickly grew the business and acquired several Ben Franklin franchises.

**The Birth of Walmart**

Walton’s breakthrough came in 1962 when he opened the first Walmart Discount City in Rogers, Arkansas. His mission was clear: provide low-cost goods to underserved rural areas. Walton’s business model relied on high-volume, low-cost sales, efficient supply chains, and exceptional customer service, a formula that set Walmart apart in the retail industry. By 1970, Walmart had grown to 38 stores and went public, which allowed Walton to leverage capital for further expansion. Innovations such as bulk purchasing, aggressive pricing, and a satellite-based inventory tracking system kept Walmart ahead of its competition.

**Key Takeaway: Long-Term Vision**

One of Walton’s most profound lessons for HNWIs is the importance of maintaining a long-term vision. By taking out a loan and risking his savings, he built Walmart into the conglomerate that it is today; but let’s dive beyond this while keeping his words in mind, “Capital isn’t scarce; vision is.”

Walton’s choice to retain a significant equity stake when Walmart went public reflects his commitment to building enduring wealth. By betting on himself and his company’s growth, he ensured that his wealth would scale with Walmart’s success. For investors today, holding onto significant equity in high-growth ventures can result in compounding wealth. This approach provides consistent returns and positions investors to benefit from the steady growth of their assets rather than liquidating prematurely for immediate gains.

**Strategic Reinvestment: A Pathway to Growth**

With Walton reinvesting profits back into Walmart was a key factor in the company’s rapid expansion and success. By allocating capital to enhance infrastructure, supply chain efficiency, and technology, he diversified the company’s capabilities, reduced risk, and maximized growth potential. From adopting advanced technologies like computerized inventory systems and pioneering its use in retail to expanding into new markets with ventures such as Sam’s Club and international stores and enhancing customer experience through store improvements and private label brands, these efforts not only streamlined operations and increased profitability but also diversified revenue streams and strengthened Walmart’s market position. For HNWIs, applying strategic reinvestment principles can be highly beneficial. Instead of merely accumulating wealth, focusing investments on areas that foster long-term growth - such as innovative technologies, new market expansions, or operational improvements - can enhance wealth and distribute risk effectively. This is an instrumental approach to protect against market volatility and economic downturns, one I strongly advocate for with both new and existing clientele.

**Family Governance and Legacy Planning**

Deeply committed to involving his family in the business, Walton ensured that his principles and vision were passed down to future generations. He understood that maintaining his family's wealth and legacy not only required financial acumen but also a structured approach to governance. This was evident in how he incorporated them into Walmart’s operations - a decision that has enabled the Walton family to retain its position as Walmart’s largest shareholder with 50% of its shares.

From deliberately assigning key roles to his children within Walmart to mentoring and involving them in the decision-making process early on, his framework was not just about maintaining control but more so about ensuring that his family members were prepared to uphold the legacy he had built. For HNWIs, establishing a robust family governance framework is crucial to preserving wealth across generations. This involves creating structures such as family councils or boards that include family members who are educated and involved in the management of family assets. A clear succession plan should be in place, detailing how leadership and decision-making responsibilities will transition over time. Furthermore, such a framework also helps to prevent conflicts, which can be a significant risk to the preservation of wealth.

**The Legacy of Generational Wealth**

These are just some of the keys that aided Walton in solidifying his legacy. By the time of his death in 1992, Sam Walton's net worth was estimated to be around $8.6 billion, making him one of the richest individuals in the world at that time. Today, Walmart is the world's largest retailer, and the Walton family remains one of the wealthiest families globally, with their combined net worth exceeding $200 billion.

As Sam Walton once said, “Most of us don’t invent ideas. We take the best ideas from someone else.”

While a financial advisor may not be equipped to help you start and run a business, a competent one can guide you in the right direction to successfully grow your wealth; so that one day, if you so choose, you can leverage these resources to build a conglomerate of your own – but more importantly, be well-positioned to ensure your funds grow exponentially with tried-and-true approaches steering you towards this goal.

Source: <a href="https://businesslobbies.com/banking&finance/wealth%20management/sam-waltons-blueprint-for-hnwis-from-walmart-to-wealth" target="_blank"> Business Lobbies </a>

Incoming high-net-worth individuals (HNWIs) are projected to invest a staggering $4.4 billion in Dubai property in 2024, representing a remarkable 76 percent increase from the previous year.

This surge in investment underscores Dubai’s growing appeal as a safe haven for the world’s wealthy elite.

Subscribe to read more on <a href="https://www.arabianbusiness.com/money/wealth/uae-millionaires-real-estate-investment-2024-dubai" target="_blank"> Arabian Business </a>



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UAE’s HNWI influx to drive $4.4bn in Dubai real estate investments by year’s end

This article was published on August 19th, 2024.

This comes as millionaire migration surges globally, with the UAE experiencing a notable influx of wealthy residents

The United Arab Emirates can expect a further influx in ultra-high net worth individuals relocations fuelled by tax benefits and new regulations, an expert told Arabian Business.

This trend, which experts say is likely to continue, is reshaping the region’s wealth management sector and driving significant infrastructure investments.

“The remarkable influx of UHNWIs from across the globe to the Middle East, and the United Arab Emirates in particular, has seen this community adapting to the UAE as their new home, reflecting strong confidence and a long-term commitment to be based out of the country,” said Tariq Nakhooda, Country Head, UAE at IQ-EQ, an investor services group.

Read more on <a href="https://www.arabianbusiness.com/money/wealth/uae-poised-for-long-term-uhnwi-influx-as-middle-east-hub-status-grows?utm_medium=email&utm_medium=email&utm_campaign=UAE%20poised%20for%20UNHWI%20influx%20MASSIVE%20Saudia%20flight%20ticket%20discount%20Tokenisation%20to%20fuel%20Dubai%20real%20estate%20growth%20072417%20AM&utm_content=UAE%20poised%20for%20UNHWI%20influx%20MASSIVE%20Saudia%20flight%20ticket%20discount%20Tokenisation%20to%20fuel%20Dubai%20real%20estate%20growth%20072417%20AM+CID_e098707829c10854b755ad01000b02cf&utm_source=Newsletters&utm_term=UAE%20poised%20for%20long-term%20UHNWI%20influx%20as%20Middle%20East%20hub%20status%20grows" target="_blank"> Arabian Business </a>

UAE poised for long-term UHNWI influx as Middle East hub status grows

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Sam Walton’s Blueprint for HNWIs: From Walmart to Wealth

This article was published on October 30, 2024.

El oro ha subido un 0,7% este miércoles y ha vuelto a renovar sus máximos históricos, consiguiendo además romper por primera vez la barrera de los 2.800 dólares por onza.

David Morrison, analista senior de mercados en FCA, destaca que el impulso para el metal precioso "se mantiene al alza, aunque por debajo de los niveles de sobrecompra observados a finales de septiembre", y añade que "hay menos espacio en comparación con mediados de octubre".

"Todos los promedios móviles están acumulados de manera alcista, con el de 50 días por debajo del de 20 días y el de 100 días cómodamente por debajo de ambos. La última vez que los tres convergieron fue a mediados de febrero, justo antes del inicio de esta etapa del repunte, cuando el oro cotizaba por debajo de los 2.000 dólares la onza. Entonces, todo parece un caos para los alcistas, y eso también significa que es hora de ser extremadamente cautelosos", señala.

Por su parte, Bas Kooijman, director general y gestor de activos de DHF Capital, asegura que los aumentos en el precio del oro se vieron "impulsados ​​por la fuerte demanda en medio de la incertidumbre mundial".

"Las elecciones presidenciales en curso en Estados Unidos han introducido una prima de riesgo en los mercados, particularmente a medida que Trump gana apoyo, lo que genera preocupaciones sobre los aranceles, la inflación y las cuestiones fiscales. Además, las tensiones geopolíticas continúan reforzando el estatus del oro como activo de refugio seguro", detalla.

Además, también se muestra optimista sobre las perspectivas a futuro del oro, y asegura que las condiciones actuales de mercado "podrían potencialmente respaldar un crecimiento constante del oro hacia el nivel de 3.000 dólares por onza en 2025".

Source: <a href="https://www.bolsamania.com/noticias/pulsos-materias-primas/oro-renueva-maximos-historicos-rompe-barrera-2800-dolares--17865266.html" target="_blank"> Bolsamania </a>

This article was published on June 28th, 2024.

El yen está en una auténtica encrucijada. No solo por la depreciación sin freno que está experimentando frente al dólar estadounidense (el cruce ha tocado esta semana mínimos de 38 años), sino también porque los próximos datos macro que se van a conocer tanto en Japón como en EEUU podrían ser determinantes para su evolución. En vistas de lo que pase, las autoridades niponas pueden actuar en uno u otro sentido. El dilema al que se enfrentan, en cualquier caso, es considerable, y es que tienen que tener cuidado si quieren estabilizar al yen sin dañar la economía.

Japón confirma la primera intervención en el mercado de divisas desde 2022
Por lo pronto, este viernes la divisa japonesa se enfrenta a una nueva prueba de fuego con la publicación, por un lado, de los datos de inflación en Japón, y por otro, de los datos del PCE deflactor en EEUU, que es la medida de inflación favorita de la Reserva Federal (Fed) y en la que basa sus decisiones sobre los tipos de interés.

Pero, ¿por qué son tan importantes estos datos? Los expertos lo explican. Por ejemplo, Bas Kooijman, director general y gestor de activos de DHF Capital, comenta que las cifras estadounidenses "podrían influir aún más en las perspectivas de tipos", es decir, determinar si la Fed empieza a relajar su política monetaria ya en septiembre, como descuenta el mercado, o espera aún más y mantiene los tipos más altos durante más tiempo.

Se espera que el PCE básico aumente hasta el 2,6% interanual, por debajo de la lectura actual del 2,7%. "Si el PCE revela resultados mejores de lo esperado, el yen podría enfrentar una mayor presión a la baja frente al dólar", comenta, pero también dice que "una inflación japonesa mayor de lo esperado podría fortalecer los rendimientos y respaldar al yen".

James Harte, de Tickmill Group, también se refiere a esta cuestión. Según señala, la lectura del PCE básico de EEUU "será clave para el par", es decir, para el cruce yen/dólar. "Si vemos una sorpresa a la baja, esto debería aumentar las expectativas de relajación monetaria en septiembre, lo que haría caer al dólar", comenta.

Y si hay un movimiento significativo a la baja en el dólar, esto "podría ayudar a aliviar la necesidad de intervención" de las autoridades japonesas en el mercado cambiario. Sin embargo, apunta, "si los datos superan las previsiones, diluyendo las posibilidades de flexibilización en septiembre en EEUU e impulsando al dólar al alza, esto podría ser la gota que colma el vaso y provocar una nueva intervención" de Japón como la que se produjo en mayo.

Precisamente, la sombra de una nueva intervención monetaria lleva días cerniéndose sobre el país nipón. Harte también hace referencia a este asunto: "La cuestión más importante para el Banco de Japón (BoJ, por sus siglas en inglés) es cómo hacer subir el yen de manera sostenible, dado que las intervenciones anteriores e incluso una subida récord de tipos no han ayudado" a la divisa.

Aunque no es el único. Antonio Ernesto Di Giacomo, analista de mercado en xs.com, apunta que "a medida que el yen sigue perdiendo terreno, la posibilidad de una intervención gubernamental de Japón se vuelve cada vez más plausible". Y su colega Rania Gule, que también es analista de mercado en xs.com, se expresa en términos similares al afirmar que "los inversores se mantienen cautelosos, esperando una posible intervención del gobierno japonés para sostener el yen".

Sobre todo, remarca, al calor de las últimas declaraciones del viceministro japonés de Finanzas, Masato Kanda, que ha dicho que el gobierno está dispuesto a tomar medidas contra las fluctuaciones monetarias excesivas que perjudican a la economía nipona. Y el ministro de Finanzas japonés, Shunichi Suzuki, también ha dicho que el país está "profundamente preocupado por el impacto del tipo de cambio en la economía" y que el gobierno tomará "las medidas necesarias" ante estas oscilaciones indeseables de la divisa.

OTRAS OPCIONES

No obstante, esa no es la única opción que tienen las autoridades de Japón para intentar salvaguardar la estabilidad del yen. En este sentido, Harte señala que los operadores del mercado esperan que el banco central japonés anuncie una reducción en las compras de bonos en julio, aunque en su opinión "los riesgos ahora se inclinan hacia una nueva subida de tipos, lo que debería provocar cierta fortaleza en el yen a corto plazo".

Di Giacomo también comenta las otras posibles medidas que tiene sobre la mesa el BoJ. "En respuesta a esta crisis monetaria, el Banco de Japón está considerando un cambio significativo en su política. En su próxima reunión de julio se espera que adopte una postura más agresiva, que podría incluir un aumento de las tasas de interés".

Como dice el analista, "esta sería una medida audaz destinada a estabilizar el yen, controlar la inflación y reducir la dependencia de compras masivas de bonos". Y recuerda que, de hecho, el gobernador del BoJ, Kazuo Ueda, ya ha insinuado la posibilidad de un recorte sustancial en las compras de bonos, lo que podría indicar un cambio en la dirección de la política monetaria del país.

"Este enfoque más agresivo del BoJ también busca equilibrar la necesidad de estabilidad económica para evitar perturbaciones en los mercados financieros", añade Di Giacomo, que cree que la cita de julio "será crucial, ya que se esperan más detalles sobre cómo planea el banco central nipón manejar esta delicada situación".

En sus propias palabras, la apreciación del dólar y la consiguiente depreciación del yen han hecho que Japón se encuentre en una "encrucijada económica". Y es que, remarca, "el Banco de Japón enfrenta el desafío de estabilizar su moneda sin desestabilizar su economía", lo que en última instancia "determinará el futuro del yen en los mercados globales".

Source: <a href="https://www.bolsamania.com/noticias/divisas/encrucijada-yen-dilema-japon-opciones-estabilizar-moneda--17002517.html" target="_blank"> Bolsamania </a>

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(ES) Encrucijada para el yen y dilema para Japón: ¿qué opciones hay para estabilizar la divisa?

Atentos a:

Producción industrial UE,PIB; Anuncios de Commerzbank, ABN Amro, Allianz, Merck, Hapag-Lloyd, Thyssenkrupp, Burberry, E.ON, RWE, Imperial Brands, Britvic, Compass Group, Experian

En la apertura:

Las bolsas europeas van camino de un inicio de sesión alcista este miércoles, mientras los inversores se mantienen a la espera de los datos de IPC de EE.UU. que se esperan para luego en la sesión. En horarios de Asia, los selectivos bursátiles han cotizado mixtos; los rendimientos de la deuda del Tesoro se han mantenido planos; el dólar se ha depreciado; mientras que el crudo y el oro se han fortalecido.

PRINCIPALES TITULARES DE LA PRENSA:

La bolsa podría encarar un día "feo" si el IPC de abril sale por encima de este nivel

Un rally ha llevado a la bolsa de vuelta hacia niveles record en mayo tras los recortes del mes anterior, pero son muchos los que piensan que los datos de inflación de abril que se conocerán este miércoles decidirán si se establecen nuevos máximos o nuevas pérdidas.

Tom Essaye, el fundador de Sevens Report Research, analizó los distintos escenarios posibles para el índice de precios al consumo correspondiente al mes de abril.

RENTA VARIABLE:

La renta variable europea se encamina hacia una apertura en terreno positivo este miércoles, con los operadores de mercado digiriendo un informe de inflación en EE.UU., incluso mientras esperan con gran expectación a la publicación de otro, el cual ofrecerá detalles sobre como vienen evolucionando los precios al consumo.

Un informe sobre la inflación mayorista contuvo señales mixtas para los inversores, quienes intentan escudriñar la senda a seguir por la Reserva Federal en su lucha contra la inflación.

El índice de precios a la producción ha subido en más de lo esperado por los economistas en abril, pero los datos de marzo se revisaron a la baja. Tras los datos de precios al consumo del miércoles, los inversores podrían verse forzados a replantearse su optimismo. Una lectura sorprendentemente elevada correspondiente a abril prolongaría la racha de tres informes que han salido por encima de lo esperado.

"Un dato de IPC caliente crearía volatilidad conforme se reducen las expectativas para recortes en los tipos", dicen desde Bel Air Investment Advisors.

DIVISAS:

El dólar ha retrocedido ligeramente a lo largo de la sesión asiática, con el conjunto de riesgos aparentemente sesgado un poco a la baja en el caso de la divisa estadounidense.

Dado el modo en el que los mercados viraron en abril hacia descontar más recortes de tipos de la Fed, desde luego que a los operadores de mercado les gusta posicionarse para una mayor desinflación en EE.UU., dice Maybank.

Los datos de IPC se conocerán más adelante durante la sesión.

Una lectura más débil de lo anticipada este miércoles podría llevar al dólar y a los rendimientos de la deuda del Tesoro a la baja, a la vez que apoyan al euro, dice DHF Capital.

BONOS:

Los rendimientos de la deuda del Tesoro se mantienen planos a la espera de la pequeña caída en la inflación de EE.UU. que se anticipa y con los mercados ateniéndose a sus expectativas para un recorte de tipos en septiembre, a pesar de la presión en contra por parte de algunos funcionarios de la Fed y de algunos analistas.

Los rendimientos de la deuda del Tesoro podrían subir de forma considerable si los datos de inflación dentro del sector servicios de EE.UU. arrojan una aceleración. Ello incluso si la tasa general de inflación sale como se espera, dice la gestora de activos TwentyFour.

"La Fed necesita que la inflación en los precios de la vivienda y dentro del sector servicios, en general, se sumen a la desinflación vista en el sector de bienes para que la tasa general caiga de forma sostenida hacia el objetivo de la Fed", dice.

Source: <a href="https://es.marketscreener.com/cotizacion/divisas/EURO-US-DOLLAR-EUR-USD-4591/noticia/BOLET-N-MATINAL-15-de-mayo-de-2024-46730396/" target="_blank"> MarketScreener </a>

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(ES) BOLETÍN MATINAL : 15 de mayo de 2024

(ES) El oro renueva máximos históricos y rompe la barrera de los 2.800 dólares

This article was published on October 21, 2024.

En EE. UU., las bolsas alcanzaron nuevos máximos, y tanto el S&P 500 como el Dow Jones Industrial Average y el S&P MidCap 400 marcaron niveles históricos. El optimismo se debe a un sólido inicio de la temporada de beneficios, ya que las acciones más importantes del sector bancario, como JPMorgan Chase y Wells Fargo, obtuvieron resultados mejores de lo esperado.

El ligero crecimiento de facturación de JPMorgan fue especialmente bien recibido y mitigó los temores por bajadas de beneficios más pronunciadas en el sector bancario. 

El rendimiento de las acciones de crecimiento, representadas por empresas como NVIDIA, superó el de las acciones de valor. Las acciones de NVIDIA experimentaron un aumento considerable que ayudó a compensar la bajada de Alphabet, matriz de Google, ante las noticias de que el Departamento de Justicia del gobierno de Estados Unidos podría dictaminar una posible división forzada de la empresa.

Por su parte, Tesla se enfrenta a retos de futuro, ya que el mercado ha reaccionado con frialdad a la presentación del Robotaxi y la Robovan.

En cuanto al estado de la economía, la inflación escaló ligeramente por encima de las previsiones en septiembre, y los precios subyacentes (los que excluyen alimentos y energía) se incrementaron en un 0,3%. Aunque el aumento fue modesto, marca el primer incremento interanual de los precios subyacentes desde marzo, en especial debido al aumento de los precios en sanidad y transportes. Sin embargo, la bajada de los precios de las energías ayudó a equilibrar el panorama inflacionario general.

A pesar de ello, el Departamento de Trabajo de Estados Unidos informó de un aumento sorpresa de las solicitudes semanales de subsidio de desempleo, en lo que representa la cifra más alta en 14 meses, que se explica sobre todo por los trastornos provocados por el huracán Helene y a la significativa pérdida de empleo en Michigan. 

Con este panorama, la decisión sobre tasas de interés de noviembre sigue siendo incierta, pues, aunque algunas de las autoridades federales están a favor de una pequeña bajada de 25 puntos básicos, el mercado se decanta por la posibilidad de que la Fed congele tasas. La rentabilidad de las notas del Tesoro a 10 años también subió en respuesta a estas cifras de inflación, alcanzando su punto más alto desde el mes de julio.

En Europa, las bolsas cerraron la semana en tono positivo. El índice paneuropeo STOXX 600 subió en un 0,66%, impulsado por la esperanza de que el Banco Central Europeo (BCE) decida acelerar las bajadas de tasas y de que China aumente sus estímulos económicos. Entre los mercados más importantes, los beneficios más significativos se registraron en el FTSE MIB italiano, con un 2,13% arriba, seguido del DAX alemán (1,32% arriba) y del CAC 40 francés (+0,48%). En cambio, el FTSE 100 británico perdió un 0,33%.

En Alemania, la economía sigue enfrentando retos importantes. El Ministerio Federal de Economía y Protección Climática ajustó sus previsiones y ahora apunta a una contracción del 0,2% en 2024, una cifra de crecimiento más pesimista que la anterior, del 0,3%. La fuerte caída de los pedidos de fábrica de agosto (5,8%) subrayó aún más los problemas del país, a pesar del repunte en la producción industrial, en especial del sector del automóvil.

El BCE sigue mostrándose cauto sobre futuros recortes de tasas, pero reconoce que espera que la inflación se acerque al objetivo del 2% para finales de año. Sin embargo, algunas autoridades sugieren que el ritmo de la bajada de tasas podría acelerarse. En este sentido cabe destacar las palabras del gobernador del Banque de France, François Villeroy de Galhau, que apuntó a la posibilidad de que a la bajada de tasas de octubre le siguieran otros nuevos recortes, lo que refleja un panorama económico más débil. 

Mientras tanto, Reino Unido da muestras de resiliencia, ya que su Economía volvió a la senda del crecimiento en agosto, cuando se registró una expansión del 0,2% tras unos meses de francas caídas. Esto se debe en gran medida al repunte de los sectores manufacturero y de la construcción, a pesar de que la trayectoria general de la economía sigue siendo motivo de preocupación. 

Pasando ahora a Asia, las bolsas japonesas tuvieron una buena semana, con el Nikkei 225 sumando un 2,45%. El yen japonés se debilitó un poco más frente al dólar de EE. UU., lo que beneficia a los exportadores y sugiere un panorama positivo para el crecimiento económico del país.

Sin embargo, los datos económicos muestran señales mixtas, pues los salarios reales bajan en un 0,6% interanual gracias a la reducción de los bonos de verano. Esta debilidad en el aspecto salarial hace pensar que el Banco de Japón (BoJ) pudiera retrasar nuevas subidas de las tasas de interés, a pesar de que persisten las presiones inflacionarias.

En cambio, las bolsas chinas experimentaron caídas, con el índice Compuesto Shanghái perdiendo un 3,56% en una semana más corta de lo habitual por ser periodo festivo. Se ha apagado la intensidad por las medidas de estímulo dictaminadas por Beijing, y el gasto de los consumidores durante el festivo del Día Nacional de China se ha mantenido por debajo de niveles prepandémicos.

Además, el banco central chino introdujo nuevas medidas de liquidez, incluyendo un programa de permutas (swap) por valor de 500.000 millones de RMB con el objetivo de apoyar al mercado de capitales, medida que, de momento, no ha producido ninguna recuperación significativa en el sentimiento del mercado. 

Para concluir, la semana pasada asistimos a diversas respuestas de los mercados globales ante datos económicos, cambios en políticas y beneficios corporativos. Mientras que las bolsas de EE. UU. se beneficiaron de un ambiente optimista gracias a los beneficios corporativos, en Europa la economía sigue suscitando preocupaciones, y los mercados asiáticos, sobre todo Japón y China, atraviesan circunstancias diferentes según el panorama económico de cada país.

A medida que los inversores navegan por aguas inciertas, todas las miradas siguen puestas en los bancos centrales y en sus próximas medidas en materia de política monetaria.

Source: <a href="https://tynmagazine.com/informe-financiero-semanal-global/" target="_blank"> Tyn Magazine </a>

Imparable. Así se puede calificar el rally alcista del oro, que ha llevado a la onza del metal precioso a marcar 8 máximos históricos consecutivos en las últimas 8 jornadas de trading. Este martes, ha avanzado un 0,82%, hasta alcanzar los 2.370 dólares

Bas Kooijman, CEO y gestor en DHF Capital, afirma que "*los precios del oro están aumentando a niveles sin precedentes, respaldados por las compras de los bancos centrales, así como por las preocupaciones geopolíticas y las expectativas sobre la política monetaria*".

Este experto añade que "el impulso alcista se ve sostenido por las expectativas de múltiples recortes de las tasas de interés por parte de la Reserva Federal este año, aunque el optimismo sobre este asunto se ha visto atenuado por los recientes datos sobre inflación y nóminas no agrícolas de Estados Unidos".

"*De cara al futuro*", explica Bas Kooijman, "*los participantes del mercado esperan la publicación de las cifras clave de inflación de Estados Unidos y las actas de la reunión del FOMC del miércoles para evaluar la probabilidad, el momento y la amplitud de las reducciones de las tasas de interés por parte de la Reserva Federal*". En su opinión, "*los datos podrían introducir volatilidad en el mercado de metales preciosos*".

Por otra parte, afirma que "*las compras de los bancos centrales, especialmente por parte de China, siguen siendo un importante factor de apoyo al oro, y otras instituciones de mercados emergentes, como el Banco Central de India, también están aumentando sus reservas del metal amarillo*".

"*A pesar de alcanzar niveles máximos*", concluye Bas Kooijman, "*los precios del oro siguen respaldados por una demanda sólida, como lo demuestra el aumento de las posiciones largas netas*".

"*Sin embargo*", añade que "*tras su fuerte subida, el oro podría quedar expuesto a correcciones de precios a corto plazo, en particular si los datos estadounidenses del miércoles son mejores de lo esperado*".

Source: <a href="https://www.bolsamania.com/noticias/mercados/oro-sigue-imparable-renueva-maximos-historicos-cerca-2400-dolares--16571214.html" target="_blank"> Bolsamania </a>

(ES) El oro sigue imparable y renueva sus máximos históricos cerca de 2.400 dólares

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(ES) Informe financiero semanal global

This article was published on October 15, 2024.

O dólar fechou em alta em relação a moedas de países desenvolvidos nesta segunda-feira, 14, com investidores ajustando posições diante de novos comentários de dirigentes do Federal Reserve (Fed, o banco central norte-americano) e na expectativa pela decisão de política monetária do Banco Central Europeu (BCE) na próxima quinta-feira. A falta de anúncio de novas medidas de estímulo na China também balizou os negócios, com os investidores ainda na expectativa por um novo pacote econômico, após o ministro de Finanças do país, Lan Foan, prometer novidades em breve.

O mercado de Treasuries permaneceu fechado nesta segunda-feira em meio a feriado nos EUA.

O índice DXY, que mede a variação da moeda norte-americana ante uma cesta de pares fortes, fechou em alta de 0,34%, a 103,241 pontos. O dólar se valorizava a 149,78 ienes neste fim de tarde, enquanto o euro cedia a US$ 1,0906, e a libra baixava a US$ 1,3056.

O presidente do Fed de Minneapolis, Neel Kashkari, mencionou que a política monetária nos Estados Unidos ainda é restritiva, mas que “mais cortes modestos nas taxas parecem apropriados”. Já o diretor do Fed Christopher Waller afirmou que os fortes dados econômicos recentes sugerem que o Fed deve continuar a flexibilizar a política monetária “em um ritmo deliberado”.

CEO e gestor de ativos da DHF Capital S.A, Bas Kooijman afirma que há expectativas também em relação ao BCE. “Com a inflação na zona do euro agora sob controle, abaixo da meta de 2%, juntamente com a economia lenta da Alemanha, reforça as expectativas de mais estímulos monetários”, diz.

A incerteza política francesa e a piora das finanças públicas também estão pesando sobre o euro, afirma ele. Por outro lado, o dólar continua forte devido à inflação relativamente alta dos EUA e a um mercado de trabalho resiliente, segundo Kooijman.

Source: <a href="https://istoe.com.br/moedas-globais-dolar-sobe-e-euro-cede-com-aposta-de-cortes-de-juros-pelo-fed-e-bce/" target="_blank"> ISTOE </a>

This article was published on June 12th, 2024.

O ouro fechou em alta, à medida que os mercados tomaram nota dos dados mais fracos que o esperado da inflação nos EUA, antes da decisão de política monetária do Federal Reserve (Fed). O índice de preços ao consumidor (CPI, na sigla em inglês) do país pressionou o dólar, e o movimento no câmbio tende a apoiar o metal.

O contrato futuro de ouro para agosto na Comex, divisão de metais da New York Mercantile Exchange (Nymex), fechou em alta de 1,21%, para US$ 2.354,80 por onça troy.

O metal era negociado nas máximas desde a sexta-feira, quando dados do payroll frustraram as esperanças de um corte na taxa de juros em breve, provocando um movimento de liquidação do metal. Os dados do CPI divulgados hoje, porém, voltaram a alimentar a expectativa por corte de juros pelo Fed em setembro.
Os juros dos Treasuries estão normalmente inversamente relacionados com os preços do ouro, uma vez que o metal concorre com a renda fixa americana como opção de ativo seguro. Para Bas Kooijman, CEO e gestor de ativos da gestora de investimentos DHF Capital, a inflação menos intensa deve continuar a impulsionar o ouro.

Mesmo com a expectativa de manutenção dos juros hoje pelo Fed, os futuros do ouro subiram quase 14% no acumulado do ano, superando a maioria dos outros ativos, uma vez que questões como o aumento da dívida nacional permanecem persistentes, disse Jonathan Rose, CEO do Genesis Gold Group. “Esperamos que fatores como a instabilidade política e econômica nos Estados Unidos tenham um impacto enorme no valor do ouro no futuro”, disse Rose. Com muitas previsões de que o ouro exceda a marca de US$ 3.000 a US$ 5.000 por onça-troy na próxima década, a Genesis Gold permanece altamente otimista em relação ao metal precioso, acrescentou Rose.

*Com informações da Dow Jones Newswires.

Sources: <a href="https://www.msn.com/pt-br/dinheiro/economia-e-negocios/ouro-sobe-ante-recuo-do-d%C3%B3lar-ap%C3%B3s-cpi-dos-eua-e-com-perspectiva-de-demanda-apoiada/ar-BB1o6HJt?ocid=finance-verthp-feeds" target="_blank"> Microsoft Start </a>

<a href="https://mediao.me/Ho9l" target="_blank"> br.investing.com </a>

<a href="https://mediao.me/Ho9k" target="_blank"> Istoe </a>

<a href="https://mediao.me/HoA9" target="_blank"> Opovo </a>

<a href="lhttps://mediao.me/Ho9o" target="_blank"> Folha de Pernambuco </a>

<a href="https://mediao.me/Ho9m" target="_blank"> Estadao </a>

<a href="https://mediao.me/Ho9r" target="_blank"> Liberal </a>

<a href="https://mediao.me/Ho9s" target="_blank"> RD </a>

<a href="https://mediao.me/Ho9v" target="_blank"> guarulhosweb.com. </a>

<a href="https://mediao.me/Ho9q" target="_blank"> Diario Do Grande ABC </a>

<a href="https://mediao.me/Ho9n" target="_blank"> Dinheiro </a>

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(PT) Ouro sobe, ante recuo do dólar após CPI dos EUA e com perspectiva de demanda apoiada

As gigantes tecnológicas destacaram-se pela negativa em bolsa no início desta semana. Philippe Schneider, da DHF Capital, diz ao Jornal Económico que as desvalorizações vão continuar “se sentimento de risk-off continuar a pesar no mercado”.

Big Tech, Big Disappointment. As gigantes tecnológicas norte-americanas tiveram uma segunda-feira negativa em bolsa, depois de uma sexta-feira também desanimadora em Wall Street. A semana seria para sobressair a pós-divulgação de resultados, mas os investidores mostraram claramente que esperavam mais, apesar das subidas expressivas nos lucros.

As Sete Magníficas – Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia e Tesla – perderam aproximadamente 900 mil milhões de dólares (821 mil milhões de euros) em valor de mercado, de acordo com a “Reuters“.

“O grupo Magnificent Seven sofreu hoje um declínio significativo, juntamente com o resto mercado, com uma perda combinada de centenas de milhares de milhões em valor de mercado. Esta recessão foi desencadeada por um relatório fraco sobre o emprego na sexta-feira e pela redução da atividade industrial na maior economia do mundo, alimentando preocupações sobre a economia dos Estados Unidos e a probabilidade de uma recessão”, explica ao Jornal Económico (JE) o responsável global de vendas da DHF Capital.

Philippe Schneider destaca ainda as “preocupações” em torno das “despesas elevadas com IA e a desaceleração do crescimento em áreas-chave”, apesar dos resultados líquidos positivos. “A Apple, em particular, esteve sob maior pressão depois da decisão da Berkshire Hathaway de reduzir para metade a sua participação na empresa, sugerindo que investidores proeminentes poderiam estar a abandonar o sector. Estes fattores contribuíram para um sell-off agressivo, que poderá expandir-se se o atual sentimento de risk-off continuar a pesar no mercado”, esclarece ao JE.

A bolsa de Nova Iorque abriu e fechou no encarnado com o índice tecnológico a desvalorizar mais de 5%. Por volta das 16h15 (hora de Lisboa), estas eram as quedas das Sete Magníficas: Alphabet (-1,46%), Amazon (-3,40%), Apple (-3,36%), Meta (-3,39%), Nvidia (-6,63%) e Tesla (-3,47%). Os títulos da fabricante de chips, a empresa mais valiosa do mundo, chegaram a tombar 11%.

Ceticismo sobre a “moda” da IA
O sell-off está a levantar cada vez mais preocupações sobre uma eventual bolha da Inteligência Artificial (IA) rebentar. Aliás, no final da semana até o hedge fund Elliott Management, que gere cerca de 70 mil milhões em ativos, alertou que os clientes a Nvidia está numa “bolha” e que o hype em torno da tecnologia, que tem feito subir o preço das ações da empresa, é “exagerado”.

Numa mensagem enviada aos investidores e consultada pelo “Financial Times”, o fundo mostrava-se “cético” que as gigantes tecnológicas continuassem a comprar placas gráficas da Nvidia em volumes tão elevados, até porque há aplicações de IA que “não estão prontas para o horário nobre”. Parte das dúvidas em torno desta ideia serão tiradas apenas a 28 de agosto, quando a Nvidia divulgar contas.

Quanto às restantes magnificent, reportaram lucros em linha ou acima do esperado, mas guidances para o próximo trimestre abaixo das previsões. Citando a Bloomberg, “a Amazon, a Microsoft e a Alphabet tinham uma tarefa nesta época de resultados: mostrar que os milhares de milhões de dólares que cada uma investiu na infraestrutura que impulsiona o boom da IA estão a traduzir-se em vendas reais”. Certo esse que esse one job they had parece não ter sido cumprido, a avaliar pelas desvalorizações.

Min Lan Tan, diretor do gabinete de Investimentos da Ásia-Pacífico do UBS Global Wealth, mostra-se mais otimista, segundo a publicação norte-americana “Barron’s“: “Provavelmente, demorará algum tempo até que as empresas demonstrem que podem obter um retorno dos seus investimentos em IA, mas não há indicações de que as empresas estejam a desistir destes planos de investimento, dada a promessa da tecnologia”.

Warren Buffett desfaz-se de metade do investimento na Apple
A publicação do relatório e contas da Berkshire Hathaway, no sábado, foi um sinal do agravamento do momentum nas tecnológicas. Porquê? A empresa de Warren Buffett informou que reduziu a sua participação na Apple em quase 50%, de 174,3 mil milhões de dólares (158,8 mil milhões de euros) no final do ano passado para 84,2 mil milhões de dólares (76,7 mil milhões de euros) a 30 de junho de 2024.

O ânimo perante um trimestre recorde para marca da maçã mordida durou apenas dois dias. “Apesar de a fabricante do iPhone continuar a ser a cotada com maior peso na carteira da firma de Warren Buffett, a posição está agora avaliada em apenas 84,2 mil milhões de dólares. No segundo trimestre, a Berkshire vendeu mais de 75 mil milhões de dólares em ações, pelo que não foi apenas na Apple que reduziu”, explica Nuno Carregueiro, na research de mercado da BA&N.

Portanto, este é “um sinal de desconfiança de um dos investidores mais reputados do mundo numa altura em que os mercados acionistas estão a sofrer movimentos de correção agudos liderados pelas tecnológicas”, até porque, desde que começou a investir na Apple, em 2016, as ações da cotada dispararam 900%.

A amanhã de ontem foi tão negra que o VIX – CBOE Volatility Index da Chicago Board Options Exchange – atingiu máximos de quatro anos. O indicador que mede a volatilidade das bolsas chegou aos 65, quando na quinta-feira se encontrava apenas nos 17.

Quem também perdeu com este sell-off foram os bilionários por detrás das Big Tech. Segundo a tabela da revista “Forbes”, o presidente e cofundador da Amazon, Jeff Bezos, cujo cofre ficou com menos oito mil milhões de dólares, e o CEO da Nvidia, Jensen Huang, com menos 79 mil milhões de dólares, foram os maiores perdedores do dia.

Source: <a href="https://jornaleconomico.sapo.pt/noticias/big-tech-perdem-milhares-de-milhoes-e-sell-off-agressivo-podera-expandir-se/" target="_blank"> O Jornal Economico </a>


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(PT) Big Tech perdem milhares de milhões e “sell-off agressivo poderá expandir-se”

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(PT) Moedas Globais: dólar sobe e euro cede com aposta de cortes de juros pelo Fed e BCE

This article was published on October 5, 2024.

Global stock markets rose on Friday, with the Dow Jones Industrial Average hitting a record, as a surprisingly strong US jobs report eased worries about the health of the world's biggest economy.

Job growth in the US beat expectations last month, with more than 250,000 jobs created in September, following an upwardly revised 72,000 advance over the previous two months, data released by the Bureau of Labour Statistics on Friday showed. The unemployment rate fell to 4.1 per cent.

Combined with data earlier this week showing demand for workers is still healthy while layoffs remain low, the payrolls report is likely to alleviate concerns that the labour market is cooling too quickly.

The apparent resilience in the job market is expected to further reduce the likelihood of the Federal Reserve slashing interest rates before the end of the year and could also play a role in the November 5 election, where the main concern for US voters is the economy.

However, despite the robust labour figures, the report is unlikely to “materially alter” the Federal Open Market Committee's policy outlook, said Michael Brown, a senior research strategist at online broker Pepperstone.

Fed Chairman Jerome Powell's “recent assertion that the committee is 'not in a hurry' to cut quickly, along with [Friday's] incredibly solid data slate, means that a return to a more normal cadence of 25-basis-point cuts is likely at the November meeting, and at each meeting beyond that, until the Fed funds rate returns to a neutral level next summer”, he said.

Also on Friday, the International Longshoremen’s Association, which represents 45,000 dockworkers at East and Gulf coast ports in the US, reached a deal to suspend a three-day strike until January 15, to provide time to negotiate a new contract.

That helped temper concerns that a prolonged strike could negatively affect US shipping and logistics, which would have pushed inflation up and weighed on the economy.

On Wall Street, the Dow closed 0.8 per cent to hit a new high. The benchmark S&P 500 added 0.9 per cent, hovering near its record set on Monday. The tech-heavy Nasdaq Composite rose 1.2 per cent.

For the week, the Dow inched up 0.1 per cent, the S&P 500 climbed 0.2 per cent and the Nasdaq added 0.1 per cent. Year-to-date, the indices have leapt 12.4 per cent, 20.6 per cent and 20.8 per cent, respectively.

In Europe, London's FTSE 100 closed flat, recouping gains following the US jobs report but declining for the week on concerns over rising geopolitical tensions in the Middle East.

Paris' CAC 40 added 0.9 per cent, while Frankfurt's DAX rose 0.6 per cent.

Earlier in Asia, Hong Kong's Hang Seng Index jumped 2.8 per cent at the close, finishing its best day since March 2022, as investors remained optimistic on China's sweeping stimulus measures to prop up the world's second-largest economy.

Tokyo's Nikkei 225 climbed 0.2 per cent, after a week that witnessed volatile market and yen movements after Shigeru Ishiba was elected as Japan's Prime Minister. The Shanghai Composite and other mainland China markets – which, thanks to the stimulus package, were propelled to their biggest single-day gains in 16 years on Monday – were closed for the Golden Week holiday.

In commodities, oil prices posted their biggest weekly jump since the first quarter of 2023 amid escalating geopolitical tension, with the possibility of an Israeli retaliatory strike on Iran's oil infrastructure prompting worries over supply disruption.

Brent settled 0.55 per cent higher at $78.05 a barrel, while West Texas Intermediate closed up 0.91 per cent at $74.38 a barrel. For the week, the benchmarks leapt 8.9 per cent and 9.1 per cent, respectively.

Gold, meanwhile, declined as the stronger-than-expected US jobs report whittled expectations for more aggressive Fed interest rate cuts.

The precious metal retreated 0.09 per cent to settle at $2,653.25 an ounce. Gold, considered a safe haven and hedge against inflation, surpassed the $2,600 mark in response to the Fed's 50-basis point interest rate cut on September 18.

“A milder rhythm of interest rate cuts could leave the gold market with less support and could limit its ability to record new highs and could expose the market to short-term losses,” said Bas Kooijman, chief executive of Luxembourg-based asset management firm DHF Capital.

Source: <a href="https://www.thenationalnews.com/business/markets/2024/10/05/global-stock-markets-up-as-strong-us-jobs-report-calms-nerves-about-economy/" target="_blank"> The National </a>

Following the downturn seen in morning trading on Friday, stocks showed a notable recovery attempt in the latter part of the session. The major averages climbed well off their worst levels of the day but still closed in the red.

The tech-heavy Nasdaq fell 43.76 points or 0.4 percent to 12,284.74 and the S&P 500 dipped 6.54 points or 0.2 percent to 4,124.08, while the Dow edged down just 8.89 points or less than a tenth of a percent to 33,300.62,

While the Dow ended the day just below the unchanged line, the blue chip index still closed lower for the fifth consecutive session.

For the week, the Dow slumped by 1.1 percent and the S&P 500 fell by 0.3 percent, but the Nasdaq climbed by 0.4 percent.

The early downturn on Wall Street came following the release of a report from the University of Michigan showing U.S. consumer sentiment deteriorated by much more than anticipated in the month of May.

The report said the consumer sentiment index tumbled to 57.7 in May from 63.5 in April, while economists had expected the index to edge down to 63.0.

With the much bigger than expected decrease, the consumer sentiment index slumped to its lowest level since hitting 56.8 last November.

"*While current incoming macroeconomic data show no sign of recession, consumers' worries about the economy escalated in May alongside the proliferation of negative news about the economy, including the debt crisis standoff,*" said Surveys of Consumers Director Joanne Hsu.

She added, "*Throughout the current inflationary episode, consumers have shown resilience under strong labor markets, but their anticipation of a recession will lead them to pull back when signs of weakness emerge.*"

Hsu also said year-ahead inflation expectations receded slightly to 4.5 percent in May after spiking to 4.6 percent in April.

Meanwhile, long-run inflation expectations rose to 3.2 percent in May from 3.0 percent in April, reaching their highest reading since 2011.

Worries about the debt ceiling crisis also continued to hang over the markets, with the postponement of a meeting between President Joe Biden and top lawmakers adding to jitters about a potential default.

"*The discussion between the U.S. president and Congress around the debt ceiling issue could increasingly become a pain point for the stock market as the potential date for a default approaches*," said DHF Capital CEO Bas Kooijman. "*A U.S. default could have a tremendously negative impact on the global economy and on the financial system*."

"*In this regard, some banks have started putting in place contingency plans to face a potential default," he added. "As such, investors could be monitoring the developments around this issue every step of the way in the coming days*."

**Sector News**

Most of the major sectors ended the day showing only modest moves, contributing to the relatively lackluster close by the broader markets.

Airline and banking stocks saw some weakness on the day, while natural gas stocks moved notably higher along with the price of the commodity.

**Other Markets**

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index advanced by 0.9 percent, while China's Shanghai Composite Index slumped by 1.1 percent.

Meanwhile, the major European markets all moved to the upside on the day. While the U.K.'s FTSE 100 Index rose by 0.3 percent, the French CAC 40 Index and the German DAX Index both climbed by 0.5 percent.

In the bond market, treasuries gave back ground after moving notably higher over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, increased 6.6 basis points to 3.463 percent.

**Looking Ahead**

Next week's trading may be impacted by reaction to the latest U.S. economic data, including reports on retail sales, industrial production, housing starts and existing home sales.

Earnings news may also attract attention, with retail giants Walmart (WMT), Home Depot (HD) and Target (TGT) among the companies due to report their quarterly results next week.

Sources: https://www.rttnews.com/3363864/u-s-stocks-stage-late-day-recovery-attempt-but-close-modestly-lower.aspx

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U.S. Stocks Stage Late-Day Recovery Attempt But Close Modestly Lower

Global stock markets ended the week mixed, with the US and Asia down and Europe up, amid investor concerns about economic uncertainties.

Consumer confidence in the US fell to a six-month low, as political wrangling over raising government spending limits has increased recession fears.

Consumer spending, which accounts for two thirds of the US economy, was flat in March, the Commerce Department previously reported. Its reading for April is expected on May 26.

Readings from the consumer and producer prices indices, released this week, indicated that inflation is slowing down. Retail sales and industrial production data are due next week.

Jobless claims, meanwhile, soared to their highest level since October 2021 in another sign the Federal Reserve's aggressive interest rates are being felt across the economy — this time in the labour market.

Initial claims last week rose by 22,000 to a seasonally adjusted level of 264,000 in the week ending May 6 — higher than estimations by Reuters and Bloomberg economists.

Investors are also keeping an eye on potential next moves from the Federal Reserve, which last week raised interest rates for the 10th straight time.

The US central bank is getting rates near where it wants them to be to overcome its fight on inflation, Fed governor Philip Jefferson and St Louis Fed president James Bullard said on Friday.

“*Stock markets were recovering to a certain extent after economic data releases showed that inflation figures were moving along estimates,*” Bas Kooijman, chief executive of Luxembourg-based investment management firm DHF Capital, wrote in a note.

“*The figures supported the view that the Federal Reserve could maintain its interest rates at current levels, which could help improve the appetite for risk among investors and support the stock market.*”

They did not, however, give any indication on whether the Fed has reached that point, casting doubt on the Fed pausing rate hikes at its next meeting.

At the close on Wall Street, the Dow Jones Industrial Average settled 0.1 per cent lower, the S&P 500 declined 0.2 per cent and the tech-heavy Nasdaq Composite shed 0.4 per cent.

In Europe, London's FTSE 100 settled 0.3 per cent higher.

The Bank of England this week raised interest rates by a quarter of a percentage point to 4.5 per cent, taking borrowing costs to their highest level since 2008.

The increase, the 12th consecutive rise, is the central bank’s latest move in its continuing battle with double-digit inflation, which governor Andrew Bailey acknowledged was “too high”.

Frankfurt's DAX and Paris' CAC 40 both closed 0.5 per cent higher.

Earlier in Asia, the Shanghai Composite retreated 1.1 per cent over uncertainty in the Chinese economy.

Momentum is apparently slowing down in the world's second-largest economy with consumer prices rising at their slowest pace in more than two years and new bank loans decelerating.

Imports also posted a surprise decline, triggering a drop in commodity prices.

Tokyo's Nikkei 225 climbed 0.9 per cent, while Hong Kong's Hang Seng shed 0.6 per cent.

In commodities, oil prices settled lower on Friday to post their fourth consecutive week of losses as fears of an economic slowdown led to concerns about weakening global crude demand.

Brent declined 1.08 per cent, or $0.81, to $74.17 a barrel, while West Texas Intermediate shed 1.17 per cent, or $0.83, to settle at $70.04 a barrel.

Gold, meanwhile, retreated $0.70 to $2,019.80, settling virtually flat.

Demand for gold, used as a hedge against inflation, rose by 18 per cent in 2022 to an 11-year high of 4,741 tonnes, driven by retail investors and central banks shoring up their bullion reserves, the World Gold Council previously reported.

Sources: https://www.thenationalnews.com/business/markets/2023/05/13/global-stock-markets-end-mixed-amid-economic-uncertainties/

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Global stock markets end mixed amid economic uncertainties

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Global stock markets up as strong US jobs report calms nerves about economy

This article was published on October 4, 2024.

Os contratos futuros do ouro fecharam em queda nesta sexta-feira (4) pressionados pelos dados fortes de mercado de trabalho divulgados hoje. No fechamento, o contrato de ouro para dezembro caiu 0,42% a US$ 2.667,8 por onça-troy.

Com a força surpreendente mostrada pelo ‘payroll’ de setembro, com a abertura de 254 mil novas vagas, e com o desemprego caindo para 4,1%, os investidores reduziram suas expectativas de um novo corte de 0,50 ponto percentual pelo Federal Reserve (Fed) em novembro, o que seria benéfico para o ouro.

“Uma série mais branda de cortes nas taxas de juros pode deixar o mercado de ouro com menos suporte, limitar a capacidade de atingir novos recordes e potencialmente expor o mercado a perdas de curto prazo”, disse Bas Kooijman, presidente-executivo e gestor de ativos da DHF Capital. “Mas o metal precioso ainda é apoiado por preocupações geopolíticas e compras do banco central,”, afirmou.

Source: <a href="https://valorinveste.globo.com/produtos/investimento-no-exterior/noticia/2024/10/04/ouro-recua-pressionado-por-dados-de-emprego-mais-fortes-nos-eua.ghtml" target="_blank"> Valor Investe </a>

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(PT) Ouro recua pressionado por dados de emprego mais fortes nos EUA

This article was published on October 4, 2024.

**Gold prices dip as half-point rate cut looks less likely**

Gold prices came under pressure after the latest jobs figures indicated the US economy is in rude health, lowering the chances of steep interest rate cuts.

Bullion was last down 0.5pc to about $2,647 an ounce after the significantly higher-than-expected growth in US payrolls and fall in unemployment.

Bas Kooijman, chief executive of DHF Capital, said:

A milder rhythm of interest rate cuts could leave the gold market with less support and could limit its ability to record new highs and could expose the market to short-term losses.

Source: <a href="https://finance.yahoo.com/news/barnier-french-borrowing-target-unreachable-172227733.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAH3lAbT_W0GoyflmdbSkq-tXw0swCyjvUGCkcyDq1gOCzat8Eby_nu5XN3Gcbd29HFPIa5NFqgdukWt2TZH0H5bTdytewZ8eeDVRnsKqQ-M8d6TC6viWf1J4lXYYCsEQTDbUSUw09P3c6fHxpXVNPsEj2uEkWQNSM6vqbzCrVguw" target="_blank"> Yahoo Finance </a>

Now being the second week in August, we notice a significant fall in the number of new executives being recruited in the forex, crypto and fintech industries. Let’s review the executives that have taken on recent roles and challenges in our executive moves roundup of the week.

**Executive Moves of the Week**

**CFI Welcomes New Marketing Head of MENA**

CFI Financial Group, a Dubai-based global multi-asset broker, has announced the appointment of Leen Daoud as the Marketing Head for the MENA region.

With over eight years of experience in the online trading industry, Leen brings vast expertise from her previous roles at Ingot Brokers and CAPEX.com. As the Marketing Head for the MENA region, Leen is expected to spearhead innovative marketing initiatives, fortifying CFI's presence. Her experience and proven track record make her a valuable asset to CFI's team.

"*We are delighted to welcome Leen Daoud as our new Marketing Head of MENA,*" Hisham Mansour, the Co-Founder and Managing Director of CFI Financial Group, commented. "*Her extensive experience in the MENA region and passion for delivering exceptional results align perfectly with our commitment to excellence and empowerment.*"

**DHF Capital Appoints New CFO**

DHF Capital S.A., a global asset management firm, welcomes Ali Jaffari as its new Chief Financial Officer (CFO). Boasting over ten years of experience in the financial sector, Ali will directly report to the CEO, Bas Kooijman.

His primary responsibility will be shaping the financial trajectory of DHF Capital, ensuring stable growth, and devising strategies in line with the company's objectives.

"*We are thrilled to welcome Ali Jaffari as the new Chief Financial Officer for DHF Capital’s global operations*,” Bas Kooijman, the CEO of DHF Capital S.A. commented. “*Ali will play a critical role in shaping the financial direction of the company, ensuring our financial stability, and contributing to our long-term success*."

**Barclays Names James Edmonds as Global Head of Sustainable Project Finance**

Barclays has appointed James Edmonds as the Global Head of Sustainable Project Finance under the bank's Corporate and Investments Banking division. Edmonds will be based in New York and report to the Global Co-Heads of Capital Markets, Travis Barnes and Tom Johnson.

According to a statement issued by Barclays, Edmonds will forge collaborations in project financing. Previously, he served as the Head of Real Assets Finance for the Americas at HSBC.

**Hiroaki Nagakura Has Become Head of 26 Degrees Prime Services**

26 Degrees Global Markets welcomes Hiroaki Nagakura as Japan's new Head of Prime Services. Nagakura, a veteran in the FX industry with over 30 years of experience, was previously at Rakuten Securities Inc.

The CEO, Gavin White expressed excitement over Nagakura's appointment and its potential for the company's future endeavors.

"*With such deep experience in multiple senior roles at some of the largest brokerages globally, we are very excited to welcome Nagakura-San to the team. 26 Degrees Global Markets' ability to attract top talent such as Nagakura-San speaks volumes to the growth we have experienced over the past decade, and the great opportunities that lie ahead for our powerhouse team, one of those being the Japanese brokerage market,*" White added

**Doo Group Hires New Head of HR**

Anca Ioana Ionescu has announced her appointment as the Head of HR in Europe at Doo Group. Her commitment to employee-centric workplaces aligns perfectly with Doo Group's ethos. As Ionescu takes on this new challenge, she invites her peers to join her in shaping a brighter future.

"*I said 'I doo' to this incredible opportunity because I am passionate about creating workplaces where employees come first :)! At Doo Group, that's exactly what we do! Putting our talented team of doo-ers at the heart of everything we create, drives our success, and I'm elated to be joining this great, terrific team of professionals*," Ionescu commented.

**Klarpay Welcomes Emödi**

Klarpay AG announces Markus Emödi's appointment as the Chief Legal & Compliance Officer and Deputy CEO. With over 20 years in the financial domain, Emödi's expertise encompasses areas like anti-money laundering and securities law. The CEO of Klarpay, Martynas Bieliauskas, highlighted Emödi's crucial role in fortifying the company's position.

"*We are delighted to welcome Markus to the Klarpay team," Martynas Bieliauskas, the CEO of Klarpay AG, said. "His extensive experience in legal and compliance will be instrumental in strengthening our company's position and supporting our strategic goals. Markus's expertise will contribute to our ongoing commitment to providing secure and scalable payment solutions to our clients*."

Sources: [TradingView](https://www.tradingview.com/news/financemagnates:51a2767f9094b:0-cfi-dhf-capital-barclays-and-more-executive-moves-of-the-week/)

[Finance Magnates](https://www.financemagnates.com/executives/cfi-dhf-capital-barclays-and-more-executive-moves-of-the-week/)

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CFI, DHF Capital, Barclays and More: Executive Moves of the Week

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Barnier’s French borrowing target ‘unreachable’, warns Barclays

This article was published on October 4, 2024.

A comienzos de agosto -hace apenas dos meses- el mercado japonés se colocó en el centro de todas las miradas. Las fuertes caídas de la bolsa tokiota, con el Nikkei a la cabeza, arrastraron al resto de índices mundiales e hicieron cundir el pánico entre inversores y analistas. Al menos de manera temporal. Tras el crash, las bolsas han sido capaces de recuperarse (algunas con creces) y dejar atrás el suceso bajista. Y ahora, pese a que las aguas han vuelto a su cauce, las cosas no han vuelto a ser como antes.

El mejor ejemplo lo representa la divisa del país nipón. El yen empezó en agosto a apreciarse frente al dólar. De hecho, la moneda japonesa logró revalorizarse casi un 4% frente al dólar estadounidense en las tres sesiones en las que la bolsa asiática se desplomó un 19% y alcanzó a mediados de septiembre su máximo nivel desde el verano de 2023 en su cruce con la divisa yankee. Ahora esta tendencia ha cambiado.

Desde el pasado 16 de septiembre, día en el que el yen marcó sus máximos en 14 meses, la moneda japonesa ha entrado en una espiral bajista que ni la elección del nuevo primer ministro (partidario de una política monetaria menos acomodaticia) ha sido capaz de frenar en las últimas sesiones. En apenas 15 días el par ha descendido más de un 4% con la sesión del 2 de octubre como la más bajista en la cotización del yen desde junio de 2022.

Esta dinámica ha favorecido el avance del Nikkei, que ha logrado repuntar un 8% en las últimas 15 sesiones y que al calor de una divisa más débil -algo favorable para las empresas de una economía netamente exportadora-, se encuentra en disposición de aprovechar el potencial superior al 14% que el consenso de mercado recogido desde Bloomberg le presume de cara a los siguientes doce meses.

Según los analistas, la postura más acomodaticia del Banco de Japón (BoJ) ha sido clave en el debilitamiento del yen en las últimas horas y ha venido a reforzar el optimismo del mercado. La entidad nipona sorprendía esta semana a propios y extraños al señalar que la economía no está preparada para otra subida de los tipos de interés. Algo que ha servido de contrapeso a la elección del nuevo primer ministro japonés, Shigeru Ishiba, que había sido percibido por el mercado un detractor de los Abenomics, las políticas económicas propulsadas por el primer ministro de Japón, Shinzo Abe, basadas en la expansión monetaria, el estímulo fiscal y las reformas estructurales.

"Su apoyo a la normalización de la política monetaria y a la subida de los impuestos de sociedades podría afectar significativamente al panorama financiero japonés", destaca Mario Montagnani, Estratega de inversión senior de Vontobel, que advierte de que estas medidas podría afectar a las perspectivas de la renta variable japonesa y del carry trade del yen por los cambios que pueden suponer en los tipos de interés, el valor de la divisa y las políticas fiscales.

Y es que, una apreciación de la divisa resta atractivo al carry trade del yen, una estrategia en la que los inversores toman prestados yenes para invertir en clases de activos de mayor rentabilidad. "Un yen más fuerte reduciría la rentabilidad de esta estrategia, y los operadores podrían empezar a deshacerse de las posiciones cortas en yenes. Ya tuvimos una muestra de ello durante el pasado mes de agosto. Por último, un yen más fuerte podría perjudicar a las actividades de exportación a las que Japón está estructuralmente vinculado", explica el experto.

Sin embargo, tal y como destacan desde Banco Sabadell "el flamante nuevo primer ministro, Ishiba", se ha visto recientemente obligado a reconocer que "mantendrá las políticas económicas de su predecesor Kishida" y eso ha sido recogido con los brazos abiertos por los alcistas en el Nikkei y los bajistas en el yen.

Además, "la dependencia de Japón en las exportaciones a China implica que cualquier aumento de la demanda en el gigante asiático podría tener un impacto significativo en la economía nipona", amplia por su parte Bas Kooijman, CEO y gestor de activos de DHF Capital SA, que hace hincapié en la importancia de la evolución de la economía china en el porvenir económico nipón.

Source: <a href="https://www.eleconomista.es/mercados-cotizaciones/noticias/13015595/10/24/el-boj-descarta-mas-subidas-de-tipos-a-corto-plazo-y-hace-caer-al-yen-un-3-en-4-dias.html" target="_blank"> El economista </a>

Los futuros del oro suben un 0,2% hasta los 2.656,70 dólares la onza troy tras marcar un nuevo máximo histórico en las primeras operaciones del martes de 2.664,6 dólares la onza troy. El metal precioso ha estabilizado tras un rally impulsado por los comentarios prudentes de varios miembros de la Reserva Federal (Fed) y tras el primer recorte de tipos realizado por parte de la Fed la semana pasada, con las expectativas de que los recortes de tipos de interés adicionales en los próximos meses probablemente mantendrán el entorno favorable para el oro, opina Bas Kooijman, director ejecutivo y gestor de activos de DHF Capital S.A. Al mismo tiempo, la demanda de refugios seguros es fuerte, ya que las tensiones geopolíticas siguen siendo elevadas, al igual que la demanda de los bancos centrales de las economías emergentes, añade Kooijman en una nota de análisis. Dicho esto, el repunte de los rendimientos de la deuda del Tesoro de Estados Unidos está frenando nuevas subidas en los precios del oro, y el metal precioso podría verse expuesto a cierta recogida de beneficios a corto plazo, concluye el experto.

Source: <a href="https://es.marketscreener.com/cotizacion/materia-prima/GOLD-4947/noticia/Los-futuros-del-oro-suben-por-los-comentarios-prudentes-y-por-la-demanda-de-refugio-seguro-y-bancos-47928545/" target="_blank"> Market Screener </a>

(ES) Los futuros del oro suben por los comentarios prudentes

La Reserva Federal (Fed) acapara todos los focos del mercado. El banco central estadounidense dará a conocer el 31 de julio su próxima decisión de política monetaria, para la cual el mercado ya descuenta una nueva pausa y deje los tipos de interés como están, aunque también espera que el presidente Jerome Powell haga un guiño a un posible recorte de tasas en septiembre a la vista de los últimos datos. Sin embargo, no conviene perder de vista otra cita que también tendrá lugar este miércoles.

El Banco de Japón (BoJ, por sus siglas en inglés) celebrará su reunión de política monetaria en las mismas fechas que su homólogo norteamericano, aunque las expectativas son bien distintas. Y es que el regulador nipón está listo para empezar una era de subidas de los tipos de interés después de cantar victoria en su lucha contra la inflación y de devolver los tipos de interés a territorio positivo tras 8 años con valores negativos y 17 sin pisar el acelerador en materia de política monetaria.

No obstante, el consenso está dividido. Según explican los expertos de Renta 4 Banco, el mercado da un 60% de probabilidad a una subida de 10 puntos básicos, mientras que el 40% restante se decanta por una nueva pausa. Asimismo, Ipek Ozkardeskaya, analista sénior de Swissquote Bank, espera que el BoJ anuncie el comienzo del endurecimiento cuantitativo (QT, por sus siglas en inglés), es decir, la reducción de su enorme balance.

Cabe señalar que, además de lo explicado con anterioridad, el banco central japonés tiene previsto publicar el miércoles sus perspectivas trimestrales sobre precios y crecimiento.

**¿JULIO O SEPTIEMBRE?**

Como decimos, el mercado no tiene del todo claro cuál será el próximo movimiento del BOJ. Si bien algunos apuestan por una subida ahora, otros se decantan por un movimiento al alza en septiembre.

Según los estrategas de Renta 4, las razones que justifican esperar a septiembre antes de implementar una nueva subida de tipos estarían relacionadas con "un débil consumo privado" en el país nipón, así como el deseo de evitar interferir con las elecciones del Partido Liberal Democrático previstas para septiembre.

Uno de los focos de atención del Banco de Japón es la débil inercia del gasto privado, ya que la subida de los precios está superando el crecimiento de los salarios. La economía japonesa ha tenido dificultades para crecer y buena cuenta de ello ha dado el Producto Interior Bruto: en el primer trimestre, el país revisó a la baja el crecimiento y cifró la contracción de la economía nipona en el -2,9% interanual desde el 1,8% reportado anteriormente. Asimismo, los datos del PIB del tercer y cuarto trimestre de 2023 también se revisaron a la baja.

Fuentes de 'The Wall Street Journal' afirman que algunos responsables políticos creen que el aumento de los tipos tendría efectos positivos sobre el consumo, ya que la principal causa de la debilidad del gasto es la depreciación del yen. Un yen débil aumenta los precios de los productos importados, como la gasolina y los alimentos.

"Es necesario que el yen sea fuerte y estable", declaró la semana pasada Toshimitsu Motegi, secretario general del Partido Liberal Democrático, que gobierna en Japón, al tiempo que pidió al BoJ que aclarara su postura sobre el endurecimiento monetario. Asimismo, 'Reuters' recoge unas declaraciones del máximo consejo económico del Gobierno en las que subrayan que "no podemos pasar por alto el impacto que la debilidad del yen y el aumento de los precios están teniendo en el poder adquisitivo de los hogares".

Aunque el banco central no está directamente a cargo de la política monetaria, el gobernador Kazuo Ueda ha dicho anteriormente que consideraría tomar medidas si la depreciación de la divisa japonesa afecta sensiblemente a sus perspectivas de precios.

**¿PUEDE RECUPERARSE EL YEN?**

Es otra de las grandes preguntas que el mercado tiene sobre la mesa. En los últimos meses, la fortaleza del dólar estadounidense ha dañado de sobremanera al yen japonés, que llegó a alcanzar mínimos de 1986, una debilidad que le costó el puesto al principal diplomático monetario del país después de completar sin éxito la primera intervención en el mercado de divisas desde 2022. Sin embargo, la situación es distinta ahora.

Las expectativas de que se reduzca la brecha entre los tipos de interés japoneses y estadounidenses han contribuido a que el yen se fortalezca con fuerza frente al dólar en las últimas sesiones. Este lunes, el par USD/JPY se situó en torno a 153 yenes por dólar después de haberse debilitado hasta 162 a principios de julio.

Para los analistas de Renta 4 Banco, el "punto de inflexión" en las políticas monetarias de la Fed (tipos a la baja) y del BoJ (tipos al alza) "debería seguir apoyando al yen (+5% en julio) a medio plazo". Con todo, si el BoJ optara por retrasar su siguiente subida a septiembre, "podríamos ver cierto freno a sus avances en el corto plazo".

Según Bas Kooijman, CEO de DHF Capital, estos factores han "provocado presiones sobre las posiciones de 'carry trade' y liquidaciones", aunque el mercado sigue esperando la declaración para "calibrar la posible dirección del mercado", mientras que la posible subida de los tipos de interés del BoJ y la reducción de sus compras mensuales de bonos podrían ayudar a la divisa nipona a fortalecerse "aún más". Esta tesis también es defendida por Ozkardeskaya, quien destaca que, "si todo va según lo previsto, la reducción de la brecha entre Japón y el resto del mundo desarrollado debería dar al yen un nuevo giro positivo".

"Además, los riesgos de una escalada de las tensiones geopolíticas en Oriente Medio y otros lugares podrían impulsar los flujos hacia activos refugio, beneficiando al yen", agrega Kooijman.

En un informe previo, Goldman Sachs Research descartaba la posibilidad de una subida en julio y tampoco veía que el BoJ "cite la debilidad del yen como razón principal para subir el tipo de interés oficial". Solo si el yen se debilitase "lo suficiente" como para influir en las perspectivas de inflación, entonces sí que el organismo nipón podría acelerar las subidas de tipos. De hecho, explicaban estos expertos, el Banco de Japón ha dicho que las fluctuaciones del tipo de cambio "podrían tener un mayor impacto en el comportamiento de la fijación de precios en estos momentos".

Con todo, estos analistas también señalaban que un yen "ligeramente más débil" ayudaría al Banco de Japón a alcanzar su objetivo de inflación. Asimismo, la firma neoyorquina afirmaba que Japón "dispone de herramientas más específicas para hacer frente a la volatilidad de los tipos de cambio que parece no ajustarse a los fundamentos económicos". No obstante, el yen sigue estando en peligro de debilitarse más si la economía estadounidense se muestra más resistente de lo esperado y la última lectura del PIB estadounidense no parece especialmente halagüeña en este sentido.

Sources: <a href="https://www.bolsamania.com/noticias/economia/banco-japon-previa-reunion-julio--17157486.html" target="_blank"> Bolsamania </a>

<a href="https://es.marketscreener.com/noticias/ultimas/El-aumento-de-tipos-del-BoJ-provocar-a-subidas-en-los-rendimientos-de-los-bonos-gubernamentales-jap-47492923/" target="_blank"> Market Screener </a>

<a href="https://tuavaluo.com/avaluo/2024/07/30/el-banco-de-japon-listo-para-una-reunion-historica-pese-a-que-la-fed-acapara-el-foco/" target="_blank"> Tu avaluo </a>

<a href="https://www.ecobolsa.com/noticias/banco-japon-previa-reunion-julio.html" target="_blank"> Eco Bolsa </a>

(ES) El Banco de Japón, listo para una reunión histórica, pese a que la Fed acapara el foco

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(ES) El BoJ descarta más subidas de tipos a corto plazo y hace caer al yen un 3% en 4 días

The Chinese yuan rebounded as the market anticipates significant economic stimulus measures with the National People’s Congress meeting this week. Reports indicate that Beijing is considering approving up to 10 trillion yuan in additional debt issuance over the next few years to support its slowing economy. This move is expected to provide liquidity and encourage investment, potentially leading to the stabilization of the yuan after recent fluctuations. The possibility of increased fiscal support may create a bullish outlook for the yuan, as a stronger economy could support demand for the currency and attract foreign investment. The yuan could also benefit from a weaker dollar as US political uncertainty weighs on the currency.

In the fixed-income market, the potential issuance of substantial debt volumes could impact yields and investor sentiment. Introducing more debt could lead to higher bond yields, strengthening the yuan over the short term. Additionally, if the stimulus successfully revives economic growth in the medium to long term, the Chinese currency could find stronger support.

Source: <a href="link" target="_blank"> London Loves Business </a>

The dollar recorded some volatility today but could remain within its downtrend overall while traders expect the start of interest rate cuts in March despite several Fed members attempting to temper market optimism. The dollar could follow treasury yields in their decline. Traders could remain cautious however ahead of the release of GDP and PCE data in the next two days. 

The British Pound declined today following an unexpected drop in inflation levels. The data fueled speculations that the Bank of England could start cutting rates earlier than previously expected. The change in expectations could weigh on the currency and could weigh on its rebound.

The Japanese yen could continue to see some downside risks after the Bank of Japan maintained its rates unchanged. Expectations of a more restrictive monetary policy remained unanswered and could leave the currency with less support after accumulating gains against the dollar for the last couple of weeks.

Source: <a href="https://londonlovesbusiness.com/forex-market-awaits-gdp-and-pce-data-as-pound-and-yen-under-pressure/" target="_blank"> London Loves Business </a>

Forex market awaits GDP and PCE data as pound and yen under pressure

The Chinese yuan remained relatively stable as the Chinese government reaffirmed its support for the struggling property market. However, investors were hoping for stronger measures to support home demand. This cautious approach may lead to ongoing market volatility as investors assess the effectiveness of current policies amid China’s economic difficulties.
These recent developments in the housing market and global economic trends could further impact the yuan. The weaker-than-expected housing policy has weighed on investor confidence, pushing some to favor other currencies like the dollar.

Attention now shifts to the upcoming release of China’s GDP and Industrial Production Report. The market anticipates a potential decline in GDP growth, projecting a drop to 4.5% in Q3 from 4.7% in Q2, while industrial production is expected to remain stable at 4.6% year-on-year for September. A decrease in GDP growth could undermine investor confidence in the yuan, leading to potential depreciation, especially if the results are disappointing. This slowdown may also drive government bond demand, pushing their prices and lowering yields.

Source: <a href="https://londonlovesbusiness.com/chinese-yuan-steady-while-traders-monitor-stimulus-clues/#google_vignette" target="_blank"> London Loves Business </a>

Chinese yuan steady while traders monitor stimulus clues

Yuan Rebounds on Stimulus Hopes

CPI data for EU, France, Italy; EU unemployment; trading updates from Shell, Repsol, Caixabank, Danske Bank, Stellantis, Anheuser-Busch InBev, Carlsberg, BNP Paribas, STMicroelectronics, Aker Solutions, A.P. Moller-Maersk, Haleon, Smith & Nephew, TotalEnergies, ING Group, DSM Firmenich, BBVA, Intesa Sanpaolo

Opening Call:

European stock futures were lower as the corporate earnings season continues. Asian stock benchmarks were mixed despite China data showing that manufacturing activity rebounded in October, snapping a five-month run in contractionary territory; U.S. Treasurys yields were mostly lower; the U.S. dollar edged higher; oil futures rose and gold declined.

Equities:

European stock futures were lower early Thursday tracking declines in U.S. stock futures. U.S. stocks fell Wednesday following mixed corporate earnings reports.

While latest U.S. economic data showed a still-growing economy and expanding jobs market, the market is concerned that demand could be too hot for the Federal Reserve to cut interest rates as many times as the market would like to see.

While the corporate earnings season continues, on tap today are EU and U.S. inflation data. The latest reading of the Federal Reserve's preferred inflation gauge--the personal consumption expenditures price index--is likely to show a small uptick in U.S. inflation, which remains above the central bank's target.

Earlier today, the Bank of Japan held its policy interest rate steady as widely expected, while reaffirming that it's on track to achieving the goal of stable inflation and economic growth.

Forex:

Sterling could benefit as the U.K. government's budget Wednesday was fairly balanced and removes a key risk for the currency, TD Securities said. Higher spending was financed by higher taxes without any alarms or surprises, TD analysts said.

Sterling might rise versus the euro, supported by a stable U.K. government with a pro-growth fiscal budget and scope for closer U.K.-EU ties. A lack of eurozone growth and eurozone fragmentation risks could also offer support, they said, but were "cautious of any rally" in sterling versus the dollar on risks ahead of the U.S. presidential election on Nov. 5.

--

The U.S. dollar may have more upside against Asian currencies if Trump wins next week's U.S. presidential election, Barclays said.

The election's outcome could possibly be more important for Asia than elsewhere from an economic perspective--potential tariffs--and from a geopolitical perspective--possible tensions with China, Barclays said.

Bonds:

Gilt yields rose after the U.K. Office for Budget Responsibility's report Wednesday showed borrowing will be increased and fiscal policy will be loosened, Capital Economics' Diana Iovanel said.

The OBR said the budget will raise spending by 70 billion pounds annually, funded by tax increases and increased borrowing. Looser fiscal policy could pressure gilts in the near term. Still, Capital Economics expects yields will fall as interest rates are reduced.

Energy:

Oil rose in Asian trade. Prices have been significantly affected by recent geopolitical tensions in Israel and Lebanon, said Rania Gule, analyst at XS.com.

Israeli Prime Minister Benjamin Netanyahu's statement about a potential diplomatic solution temporarily eased tensions. However, as the situation in the Middle East remains volatile, oil prices are susceptible to further fluctuations, the analyst added.

Metals:

Gold was lower in Asia after topping $2,800/oz for the first time on Wednesday. The precious metal continues to be supported amid heightened macro risks, ANZ Research analysts said. Citing the World Gold Council, ANZ noted that gold demand rose by 5% on year in 3Q, setting a record for the period.

Geopolitical tensions also continue to reinforce gold's status as a safe-haven asset, DHF Capital S.A. said.

--

Copper prices edged higher on hopes for more details about China's fiscal stimulus package at a coming policy meeting.

However, stronger supply remains a headwind for copper prices. Codelco, the world's largest copper producer, snapped a slump in its copper production and made 338,000 tons of copper in 3Q, up 2% on year, ANZ noted.

--

Iron ore edged higher, trading in a narrow range. Markets were in a wait-and-see mood as the downstream steel market isn't doing well, analysts at Huatai Futures said.

Industry data showed a decrease in building material output this week compared to last week, and a slower steel destocking speed, weighing on trading sentiment, they added.

TODAY'S TOP HEADLINES

Japan's Central Bank Holds Rate, Expects Inflation to Stay Near 2% Target

TOKYO-The Bank of Japan held its policy interest rate steady as widely expected, while reaffirming that it's on track to achieving the goal of stable inflation and economic growth.

The Japanese central bank maintained its target for the overnight call rate at 0.25%, the level reached after the last hike in July.

China PMIs Hint at Economic Recovery

An official gauge of China's manufacturing activity rebounded in October, snapping a five-month run in contractionary territory in a tentative sign of recovery as Beijing strives to revive the economy.

The manufacturing purchasing managers index came in at 50.1 in October, up from 49.8 in September, according to Thursday's data from the National Bureau of Statistics.
 
The Last Inflation Report Before the Fed's November Meeting Is Coming. What the Release Means for Interest Rates.

Federal Reserve officials will get another important look at inflation on Thursday morning, ahead of their Nov. 6-7 policy meeting. The latest reading of the personal consumption expenditures price index is likely to show a small uptick in U.S. inflation, which remains above the central bank's target.

The PCE report for September will be published at 8:30 a.m. ET on Oct. 31, as part of the Bureau of Economic Analysis' personal income and outlays report.
 
Ubisoft Posts Slump in Net Bookings After Assassin's Creed, Star Wars Snags

Ubisoft Entertainment posted sharply lower net bookings for its fiscal second quarter after initial sales of "Star Wars Outlaws" disappointed and the company delayed the release of "Assassin's Creed Shadows" to improve the game.

The French videogame maker reported 352.3 million euros ($381.2 million) in net bookings for the three months to the end of September, down 36.5% on year and at the lower end of company guidance of about EUR350 million to EUR370 million. Analysts had forecast net bookings of 386.8 million euros, according to a Visible Alpha consensus.
 
Siemens to Buy Altair in $10.6 Billion Equity Deal

Siemens is acquiring Altair Engineering in an equity deal that values the software and technology company at about $10.6 billion.

The German industrial giant said Altair shareholders will receive $113 per share in cash, representing a 19% premium to the closing price of Altair's common stock on Oct. 21, the last trading day prior to media reports about a potential deal. The price represents a 13% premium to Altair's unaffected all-time high closing price, Siemens said Wednesday.
 
Microsoft Shares Slip as Outlook Sparks Concern About AI and Cloud Revenue

Microsoft reported growth in its cloud-computing business last quarter, but a disappointing revenue outlook sparked investor concern about the near-term payoff for the software company's massive investment in artificial intelligence.

Revenue for the tech giant's Azure cloud business-a core of its AI offering-rose 33% in the quarter through September, beating analysts' expectations. For the current quarter, the company expects slightly less expansion, projecting Azure growth of between 31% and 32%.
 
Meta Reports Record Revenue, Slower Digital Advertising Growth

Meta Platforms on Wednesday reported record revenue despite slower digital advertising growth, bolstering profits that helped fund billions in artificial intelligence and augmented reality investments.

The company posted $40.59 billion in sales, an all-time high that slightly beat Wall Street expectations. The revenue growth of 19% compared with the year-earlier period was slower than the 22% growth in the three months ended in June. Advertising made up 96% of Meta's third-quarter revenue.

Source: <a href="https://www.morningstar.com/news/dow-jones/20241031366/emea-morning-briefing-inflation-data-in-focus-as-earnings-continue" target="_blank"> Morningstar </a>

**MARKET WRAPS**

**Watch For:**

EU Flash consumer confidence indicator; U.K. Public sector finances; trading updates from Associated British Foods, SEB

**Opening Call:**

European stock futures broadly advanced as technology stocks continue to bolster indexes across the Atlantic. Asian stock benchmarks were mixed; the dollar weakened and Treasury yields were mostly lower; oil futures were mixed and gold gained.

**Equities:**

European stock futures were broadly higher early Tuesday, as investors focus on coming economic data and corporate earnings.

U.S. stocks closed higher on Monday, with the Dow Jones Industrial Average finishing at a record high. Investors are watching for the first reading of U.S. fourth-quarter GDP as well as figures on inflation and spending this week.

Stocks may still have more room to rise for the rest of the year, according to Anthony Saglimbene, chief market strategist at Ameriprise Financial.

"I think the outlook for this year was still pretty positive, particularly if earnings can grow on a year-over-year basis," Saglimbene said.

However, some others are more skeptical.

"With forward multiples already at historic peaks and earnings forecasts for 12 months forward ambitious, equity-market gains may stall in 2024, as better earnings are met with lower valuation multiples characteristic of a midcycle or soft-landing environment," Morgan Stanley Wealth Management said.

Earlier Tuesday, the Bank of Japan kept its policy rates unchanged as it waits for more solid evidence of improving wage and price trends.

**Forex:**

The dollar weakened slightly but several developed market and emerging market central banks meetings this week, including the European Central Bank, should bring more action to currency markets, said Brown Brothers Harriman's currency analysts.

The euro is likely to stay steady ahead of the European Central Bank's meeting on Thursday but could get something of a boost from interest rates being left unchanged amid recent talk of future rate cuts, said Bas Kooijman, CEO and asset manager of DHF Capital.

Money markets are pricing in the first ECB interest-rate cut in April, according to Refinitiv.

--

The yen weakened after the Bank of Japan maintained its extraordinary easing program earlier Tuesday, which puts downward pressure on the yen.

Investors will be focusing on BOJ Gov. Kazuo Ueda's press conference later in the day for any cues on any future policy shifts.

**Bonds:**

Treasury yields were broadly lower as markets delayed projections for an initial interest-rate cut by the Fed.

The CME's FedWatch tool prices increasing odds that the Fed will keep rates unchanged next week and in March, with an expectation of a first cut pushed down to May.

Economists surveyed by The Wall Street Journal forecast December core annual PCE slowing only slightly, to 3% from November's 3.2%, in data due Friday.

--

High-yield and investment-grade bonds offering yields of around 8% and 5% respectively appear more attractive than equities, CreditSights analysts said adding that in the long-term, U.S. corporate bonds look attractive ahead of the expected interest-rate cuts.

**Energy:**

Oil futures were mixed in a possible technical correction after settling at their highest price levels in around a month.

Prices could get support from geopolitical tensions, analysts said with Saxo Markets' APAC strategy team noting Ukrainian drone attacks against oil facilities on Russia's Baltic coast, and escalating tensions in the Red Sea as the U.S. and U.K. launched fresh strikes against Houthi targets.

**Metals:**

Gold gained early Tuesday. There is strong physical demand ahead of the Lunar New Year holidays, together with signs of speculative buying activity out of China, TD Securities said.

TD Securities' tracking of the top 10 market participants in Shanghai continues to indicate more aggressive buying than would be expected by its tracking of gold withdrawals, signaling some speculative buying, it said.

--

Copper prices were lower in early Asian trading, weighed by the Chinese stock market's selloff a day earlier, Nanhua Futures analysts said.

While China's copper demand is weak amid production halts ahead of Lunar New Year, the overseas market will likely also be tepid in the short term, they said.

--

Iron-ore prices gained in Asia. Demand is rising as the Lunar New Year is approaching, CRU senior analyst Liz Gao said, adding that prices may also be supported by a media report on a potential two trillion yuan stimulus to stabilize the stock market.

However, ANZ Research analysts remain cautious on the outlook with the property sector still showing signs of stress.

Beijing has ordered the most indebted local governments to delay or halt some infrastructure projects, they noted.

Sources: <a href="https://www.morningstar.com/news/dow-jones/2024012348/emea-morning-briefing-stocks-seen-higher-as-investors-parse-econ-data-earnings" target="_blank"> Morningstar </a>

<a href="https://www.marketscreener.com/quote/currency/EURO-ISRAELI-NEW-SHEKEL-E-2363784/news/EMEA-Morning-Briefing-Stocks-Seen-Higher-as-Investors-Parse-Econ-Data-Earnings-45788946/" target="_blank"> MarketScreener </a>

<a href="https://www.advfn.com/stock-market/FTSE/UKX/stock-news/93106636/emea-morning-briefing-stocks-seen-higher-as-inves" target="_blank"> ADVFN </a>

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EMEA Morning Briefing: Stocks Seen Higher as Investors Parse Econ Data, Earnings

ECB monetary developments; Germany GfK consumer climate survey, CPI data for Germany, Barvaria, North Rhine Westphalia, Saxony, Brandenburg, Hesse; France consumer confidence survey; trading update from Telecom Italia

Opening Call:

European stock futures declined as global bond yields climbed. Asian stock benchmarks fell; the dollar edged higher; Treasury yields steadied; while oil and gold futures rose slightly.

Equities:

Stock futures fell early Wednesday, with traders dialing back expectations for rate cuts by the Federal Reserve as they weighed comments by Minneapolis Fed President Kashkari and after a jump in Treasury yields overnight.

Kashkari said he wouldn't rule out additional rate hikes if inflation doesn't retreat further, and that he wants to see many more months of positive inflation data before he would support a rate cut.

Looking ahead, the U.S. personal-consumption expenditure price index data for April, due for release Friday remains in focus. The PCE is the Fed's favored inflation gauge, and the reading should therefore have an impact on traders' perceptions of the central bank's monetary-policy trajectory later this year.

Forex:

USD has firmed after the Conference Board's U.S. consumer confidence index unexpectedly increased, said CBA. Also, Minneapolis Fed President Kashkari said the odds of additional rate increases are low but not off the table, CBA added.

Bonds:

Treasury yields steadied in Asia, after the 10-year yield logged the biggest one-day gain in about a month on Tuesday after relatively weak 2-year and 5-year auctions.

Kent Engelke, chief economic strategist at Capitol Securities Management, pointed to Kashkari's comments as a catalyst for rising long-duration bond yields, while adding that wage inflation looks to be particularly hard to tame, especially with higher minimum wages and recent union wins on higher wages in the automotive sector.

Energy:

Oil futures rose early Wednesday. Oil traders expect OPEC+ countries to roll over voluntary production cuts into 3Q when the group meets this weekend, said NAB. Heightened tensions in the Middle East are also a factor which has boosted oil prices with another vessel attacked in the Red Sea, NAB added.

Metals:

Gold edged higher in Asia amid cautious sentiment ahead of the U.S. PCE core price index, the Fed's preferred inflation gauge, due out this Friday.

A higher-than-expected reading could add to pressures that the precious metal is facing, especially after FOMC minutes recently indicated a more hawkish stance from members, said DHF Capital. There seems to be growing skepticism over substantial Fed rate cuts this year, with traders pricing in a cut in November, DHF added.

-

Copper edged higher in Asian trading. Hopes of stronger demand from China's property sector seem to have triggered a rebound in copper, ANZ said.

Shanghai lowered down-payment ratios and minimum mortgage thresholds for home purchases, which helped offset signs of soft physical demand, ANZ added. That comes amid a string of other policy measures to prop up China's real-estate sector.


   
 
 
TODAY'S TOP HEADLINES

IMF Raises China's 2024 Economic Growth Forecast to 5%

China's economic outlook seems brighter after a strong first-quarter performance and recent policy stimulus, the International Monetary Fund said as it raised growth forecasts for the country.

The IMF said on Wednesday that it now projects 2024 gross domestic product growth at 5%, up from its prior forecast of 4.6% made in April. That puts the organization's estimate in line with the official China GDP growth target of around 5%.


   
 
 
One of Wall Street's Biggest Bulls Got More Bullish. There Is Reason for Caution.

Optimism is on the rise among strategists-and UBS is helping lead the pack.

UBS' Strategist Jonathan Golub, on Tuesday, said he expects the S&P 500 to hit 5600 by December, revising his earlier forecast of 5400 made in February. This means he expects an over 17% gain for the main index this year as opposed to 11% so far.


   
 
 
Macron Allows Ukraine to Use French Missiles to Strike Inside Russia

French President Emmanuel Macron said Ukrainian forces are allowed to use powerful cruise missiles supplied by France to strike inside Russia on the condition the weapons are only used to take out military sites that have fired on Ukraine.

The comments, made during a news conference with German Chancellor Olaf Scholz, came as Ukraine and its European allies have begun to press the Biden administration to ease restrictions on the use of Western weapons to target Russian territory.


   
 
 
Lenovo to Issue $2 Billion Convertible Bonds to Saudi Sovereign Wealth Fund

Lenovo Group is raising US$2.0 billion by issuing convertible bonds to a unit of Saudi Arabia's sovereign-wealth fund, which could result in the investor owning a stake in the world's largest PC maker.

Alat, a wholly owned subsidiary of Saudi Arabia's Public Investment Fund, will subscribe to the zero-coupon bonds, whose proceeds will be used by the PC maker to repay its existing debt and meet working capital needs, Lenovo said Wednesday.


   
 
 
Blacklisted Chinese Companies Rebrand as American to Dodge Crackdown

In December, a new company registered in Michigan: American Lidar. Its planned home would be an easy drive from the big three U.S. automakers.

The company behind American Lidar, and not mentioned in its registration, is China-based lidar maker Hesai Group, which the U.S. has labeled a security concern. It is a familiar playbook: a company facing regulatory or reputational problems sets up a subsidiary or affiliate with a different name.


   
 
 
Write to singaporeeditors@dowjones.com


   
 
 
Expected Major Events for Wednesday

06:00/GER: Jun GfK consumer climate survey

06:00/SWE: Apr Retail sales

06:45/FRA: May Consumer confidence survey

07:00/SPN: Apr Retail Sales

08:00/ITA: May Consumer Confidence Survey

08:00/ITA: May Business Confidence Survey

08:00/EU: Apr Monetary developments in the euro area (M3)

08:00/GER: May Bavaria CPI

08:00/GER: May North Rhine Westphalia CPI

08:00/GER: May Saxony CPI

08:00/GER: May Hesse CPI

08:00/GER: May Brandenburg CPI

08:30/UK: Apr Capital issuance statistics

09:00/ITA: Apr Foreign Trade non-EU

09:00/CRO: Apr Retail trade

09:00/MLT: 1Q GDP

10:00/POR: Apr Retail trade

12:00/GER: May Provisional CPI

23:01/UK: Apr UK monthly automotive manufacturing figures

23:01/UK: CBI Service Sector Survey

23:01/UK: Apr Zoopla House Price Index

All times in GMT. Powered by Onclusive and Dow Jones.

Write to us at newsletters@dowjones.com

We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to https://newsplus.wsj.com/subscriptions.

This article is a text version of a Wall Street Journal newsletter published earlier today.

Source: <a href="https://www.morningstar.com/news/dow-jones/2024052953/emea-morning-briefing-shares-seen-lower-as-bond-yields-climb" target="_blank"> Morningstar </a>

EMEA Morning Briefing: Shares Seen Lower as Bond Yields Climb

EMEA Morning Briefing: Inflation Data in Focus as Earnings Continue

Gold prices have reached a new record high at 2789 dollar per oz, driven by strong demand amid global uncertainties. The ongoing U.S. presidential election has introduced a risk premium into the markets, particularly as Trump gains support, raising concerns about tariffs, inflation, and fiscal issues. Additionally, geopolitical tensions continue to reinforce gold’s status as a safe-haven asset.

The U.S. dollar and Treasury yields have slightly retreated as investors remain cautious ahead of key economic data. This pause in the recent dollar rally and in yields has benefited gold prices. Today’s release of U.S. GDP data, followed by Thursday’s PCE report, the Federal Reserve’s preferred inflation gauge, and Friday’s nonfarm payrolls will provide clarity on U.S. economic conditions and influence market expectations for upcoming Fed rate decisions. 

Demand for gold has surged, hitting a historic high in the third quarter. The continued strength of gold ETFs is expected to further support the precious metal’s higher valuation, maintaining a bullish outlook. Recent inflows into gold ETFs reflect growing investor confidence, with overall investment flows into gold on the rise. These conditions could potentially support a steady growth for gold toward the 3000 dollar per oz level in 2025.

Sources: <a href="https://londonlovesbusiness.com/gold-sets-new-record-as-election-risks-and-economic-data-loom/" target="_blank"> London Loves Business </a>

<a href="https://futures.tradingcharts.com/news/futures/Gold_Sets_New_Record_As_Election_Risks_And_Economic_Data_Loom_459313468.html" target="_blank"> tradingcharts.com </a>

Gold sets new record as election risks and economic data loom

US stocks are expected to maintain their bullish trend as investors prepare for the busy week of the third-quarter earnings season, with megacap tech companies like Apple, Microsoft, Meta Platforms, Amazon, and Alphabet set to report earnings this week. Investors also await significant US economic data, such as preliminary GDP, PCE price index, and PMI readings.

“This week is shaping up to be a big week for the US markets. Many of the Magnificent Seven firms will declare their results, including Alphabet, Apple, Microsoft, Meta, and Amazon. Tesla declared its third-quarter results earlier this week, which were surprisingly positive after the car manufacturer delivered two disappointing back-to-back quarterly results,” says Yogesh Kansal, Co-Founder & CMO, Appreciate.

This week, global investors will be paying close attention to several highly anticipated economic releases, with the September jobs report on Friday expected to provide significant data as the Federal Reserve focuses on the labor market. Meanwhile, Big Tech corporations, food chains, and pharmaceutical titans are expected to report significant results.

This week, the Personal Consumption Expenditures (PCE) inflation report will be released on Thursday, followed by the first publication of third-quarter GDP on Wednesday.

“Apple’s quarterly results will be the focus of the coming week, and the spotlight will likely be on iPhone 16’s sluggish sales. Data from the Personal Consumption Expenditure, the preferred inflation gauge of the Federal Reserve, will also be revealed on Thursday.

Economists are anticipating both the core and total PCE to deliver a marginal spike without any major inflationary shocks that could threaten the Federal Reserve’s soft landing scenario. Core PCE is expected to spike up by 0.3%, while the total PCE could likely increase by 0.2%. A day after the release of the PCE data, the October jobs report will also be unveiled on Friday.

Unemployment is expected to hold steady, and average hourly wages could decrease by 0.3%, month-on-month. The impact of Hurricane Helene and the labour strikes at Boeing would be visible as distortions in the October jobs report.

There could be a noticeable drawdown in nonfarm payrolls, however, the full brunt of the hurricane and the strikes will likely be captured in the November jobs report,” adds Yogesh.

Meanwhile, a weaker yen boosted equities further after Japan’s weekend election ended in a hung parliament, confounding the Bank of Japan’s rate hike plans. Meanwhile, investors remained cautious with just one week until the US presidential election on November 5.

Earnings releases from major technology companies, volatility in US debt markets, Friday’s monthly jobs report for October, and the final stretch of a fractious presidential race will all have a significant impact. “Elevated U.S. Treasury yields, expectations around Federal Reserve rate policies, and regional economic pressures continue to set the tone, underscoring the challenges and opportunities within the global financial landscape,” says Bas Kooijman is the CEO and Asset Manager of DHF Capital.

Source: <a href="https://www.financialexpress.com/business/investing-abroad-us-stock-market-action-packed-week-for-investors-as-jobs-earnings-and-inflation-data-to-be-in-focus-3651229/lite/" target="_blank"> Financial Express </a>

Daily Live Updates for Market Investors on a Daily Basis: February 12

For the first time, the S&P 500 Index surpassed the 5,000-point barrier to achieve a huge milestone in market valuation. US stock futures held steady on Monday as investors look forward to another set of key economic releases and earnings reports this week. On Friday, the S&P 500 rose 0.57% and closed above the 5,000 level for the first time, while the Nasdaq Composite jumped 1.25%.

Meanwhile, the Dow fell 0.14%. Those moves came as BLS data showed that CPI increased 0.2% month-over-month in December, less than 0.3% initially reported. All three benchmarks ended the week higher, led by a rally in the technology, consumer discretionary and communication services sectors.

Investors now look ahead to US inflation data this week, as well as retail sales and consumer confidence figures. On the corporate front, earnings are set to come from Shopify, DraftKings, Arista Networks, Coinbase and Datadog, among others.

“This achievement, however, was characterized by a narrow advance, indicating that the rally was led by a select group of stocks rather than a broad-based participation. The disparity between the market-weighted and equally weighted versions of the index highlighted this concentration of gains. The market’s momentum was further influenced by a successful $42 billion U.S. Treasury note auction, which alleviated some concerns about rising borrowing costs potentially impacting the Federal Reserve’s ability to adjust interest rates to stimulate the economy,” says Bas Kooijman, the CEO and Asset Manager of DHF Capital S.A.

The yield on the US 10-year Treasury note hovered around 4.15%, little changed from last week’s levels, with traders eagerly awaiting the US CPI report due Tuesday. Inflation is expected to continue to slow, reinforcing bets the Fed is set to cut interest rates this year. Investors have mostly given up on a March rate cut, with the odds currently standing around 17%, while a May easing stands around 90%. Meanwhile, market participants are also awaiting appearances by various Fed officials, hoping for insights into the timing of the Fed’s monetary easing.

The dollar index was subdued around 104 on Monday as investors cautiously awaited US consumer inflation data on Tuesday for clues on the potential trajectory of interest rates. On Friday, the greenback came under pressure as revised US figures revealed a smaller increase in the CPI for December. According to the BLS, the CPI rose by 0.2% month-over-month, slightly lower than the initial report of 0.3%. However, the core CPI remained unchanged at 0.3%. These figures confirmed a disinflationary trend in the past year and bolstered dovish bets on Federal Reserve monetary policy. Markets still see a small chance for a Fed rate cut in March, but are pricing in a move in May.

Sources: <a href="https://www.msn.com/en-in/money/markets/global-equity-market-updates-for-the-week-ending-february-16/ar-BB1i90bB?ocid=finance-verthp-feeds" target="_blank"> Microsoft Start </a>

<a href="https://www.financialexpress.com/business/investing-abroad-global-market-live-updates-us-fed-cpi-inflation-bond-equities-news-for-investors-3391756/lite/" target="_blank"> Financial Express </a>

Global equity market updates for the week ending February 16

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Action-packed week for equity market: Jobs, earnings and inflation data to be in focus

A new episode of Ondernemerslounge, hosted by Maurice Vollebregt, aired on October 27, featuring our Head of Investor Relations, Rowan Rozemond, who spoke about our products.

Here’s what he explained about our offerings:

- Alpha and Gamma Funds: Diversified portfolios primarily focused on forex trading, with additional investments in stocks (across Europe and the U.S.), gold, silver, and cash for rebalancing. These funds aim for long-term capital growth.

- Forex Fund: A specialized fund focused exclusively on currency trading, suitable for clients who may already be trading in other assets like gold and silver.

- Luxembourg-Based Bonds: Fixed-income bonds with a stable annual yield, offering predictable cash flow and ideal for clients seeking regular income without reliance on market performance.

Rowan also explained why DHF Capital chose Luxembourg for its headquarters: the international financial sector provides access to a larger global market and an optimal environment for serving international clients. He also discussed the events we’re organizing and other opportunities to connect with our team.

Here you can see the interview in Dutch: <a href="https://www.youtube.com/watch?v=2YGkEhUiWUc" target="_blank"> YouTube </a>

In this episode of Ondernemerslounge, Rowan Rozemond, Head of Investor Relations, and Roland Monsma, Business Development Manager, from DHF Capital, discuss their company, which offers a range of financial products and investment solutions to both individual and institutional investors. They talk about the types of clients they serve and the investment strategies they employ, including leveraging investments in foreign currencies, global equities, and precious metals. The company, founded by CEO Bas Kooijman, is based in Luxembourg and has a strong Dutch heritage.

Watch the full interview on <a href="https://www.youtube.com/watch?v=HxEVfe31rFY" target="_blank"> YouTube </a>

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(NL) Ondernemerslounge (RTLZ) | Rowan en Roland van DHF Capital

On this episode of Ondernemerslounge, Bas Kooijman, CEO and Asset Manager at DHF Capital, discussed several key topics. He emphasized the importance of portfolio diversification and explained the role of the IT team in active portfolio management. Kooijman also detailed the rebalancing process and outlined the various asset classes in which DHF Capital invests. Additionally, he addressed how geopolitical situations impact asset prices and shared strategies DHF Capital employs to minimize these impacts on portfolio performance.

Watch on <a href="https://www.youtube.com/watch?v=jgEaZLsR6AI" target="_blank"> YouTube </a>

(NL) Ondernemerslounge (RTLZ) | Rowan en Bas van DHF Capital

(NL) Ondernemerslounge (RTLZ) | Rowan Rozemond van DHF Capital | 10-28

Gold prices in the UAE dropped further on Friday, falling Dh2 per gram since Thursday morning.

The 24K variant of the yellow metal dropped to Dh329.25 per gram on Friday evening, down from Dh331.25 per gram at the opening of the markets on Thursday. Similarly, 22K, 21K, and 18K fell to Dh 304.75, Dh295.0, and Dh253.0 per gram, respectively.

Spot gold was trading at $2,729.68 per ounce, down by 0.17 per cent on Friday evening.

Bas Kooijman, CEO and asset manager of DHF Capital, said gold prices continued to decline on Friday due to profit-taking. “The dollar stabilised, and the 10-year Note yield hovered around 4.2 per cent, drawing investors away from gold to a certain extent. Gold could remain exposed to US economic data after expectations moved toward a less aggressive Federal Reserve rate-cutting cycle than anticipated."

Kooijman added, "A slower pace of rate cuts could be detrimental to gold. We see solid support for gold around the $2,714 level and anticipate that it will maintain its upward momentum, provided this price level holds steady."

Next week, the market will be attentive to key US economic data that could impact sentiment and expectations for the Fed’s rate-cutting path, which may introduce some volatility to the gold market.

Despite these short-term fluctuations, he said gold’s upward momentum remains strong, supported by geopolitical tensions in the Middle East and concerns about a broader conflict.

“These factors continue to support gold’s appeal as a safe haven, along with uncertainties surrounding the upcoming US election, particularly regarding a potential Trump victory,” he said, adding that anticipated easing by major central banks is also contributing to the demand for the precious metal.

Source: <a href="https://www.khaleejtimes.com/business/markets/uae-gold-prices-continue-to-drop-on-friday-fall-dh2-per-gram-since-thursday-morning" target="_blank"> Khaleej Times </a>

(MENAFN- Atteline) ● Gold prices rose 5.4% in H1 2023 and are expected to rise by over 10% through 2023
● Gold reserves for the Central Bank of the UAE (CBUAE) grew 9% (AED 1.46 billion) through the first four months of 2023 and 41% YoY (AED 64.2 billion) from April 2022 to April 2023
● UAE shoppers purchased 9.7 tonnes of gold in Q1 of 2023

Dubai, UAE - 05 September 2023: Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., cites that the price of gold rose 5.4% in the first half of 2023 and it could rise above 10-15% through the rest of the year; if this projection is realized, gold prices would rise by nearly AED 734 per ounce or approximately AED 50 per gram. Kooijman shares insights on the market’s upward trajectory and why UAE residents can invest with confidence.

As it pertains to gold consumption, the UAE has consistently ranked among global leaders; the country purchased 11.5 tonnes in the last quarter of 2019, the fourth-most in the world, as well as the most in the Middle East. At the height of the pandemic in 2020, the UAE’s average gold intake was recorded at 39.8 tonnes to solidify its regional leadership and its per capita gold consumption was the second highest across the globe at 5.24 grams.

The uncertainty of COVID-19 drove gold globally to new record levels with prices reaching a historic high of $2,067.15 (nearly AED 7,600) per ounce in August 2020. This bull run cooled down significantly to $1,519 per ounce at the start of 2021 and provided negative returns through the rest of the year. In 2022, the market saw a similar trend with gold prices reaching a peak of $2,072 per ounce in March and then another low of $1,613 per ounce in September.

In 2023, industry experts have seen renewed strength in the gold sector. This optimism was observed in the UAE with gold reserves for the Central Bank of the UAE (CBUAE) rising 9% through the first four months of this year, equating to $397 million (AED 1.46 billion). Additionally, the CBUAE’s gold reserves showed 41% Year-over-Year growth during this same period, a $17.5 billion (AED 64.2 billion) increase; this is a significant jump from the $3.5 billion (AED 12.855 trillion) evaluation that was logged in December 2022.

Kooijman commented: “*The CBUAE’s growth over past years reinforces the strength of gold as an investment; reserves were valued at over AED 1 billion in 2018, and the most recent data on record indicates that it is now inching towards reaching AED 20 billion in the near future. With its proven value through history, and industry analysis displaying a positive outlook, residents with disposable income should look to invest in this precious metal as it is known to be a safe bet for hedging against inflation and maintaining its value throughout market fluctuations.*”

World Gold Council data shows that the UAE purchased 9.7 tonnes of gold in the first quarter of this year. With some countries beginning to ban emerging assets such as digital currencies, gold remains resilient and a safe investment option. Bas’ securitization firm, DHF Capital, provides gold trading as a service, among other tools to help regional and global investors reap profits. With Bas at the helm, DHF has provided an annual average ROI of 20% since its inception and investors who have worked with him since the company’s inception have witnessed a 114% ROI to more than double their initial investment.

Sources: [Mena FN](https://menafn.com/1107006856/The-UAEs-Gold-Sector-is-Elevating-to-New-Heights)

[UAE News 24/7](https://uaenews247.com/2023/09/05/the-uaes-gold-sector-is-elevating-to-new-heights/)

[albayan.ae](https://www.albayan.ae/economy/uae/2023-09-05-1.4721583)

[mubasher.info](https://www.mubasher.info/news/4179724/-%D8%AF%D9%8A-%D8%A5%D8%AA%D8%B4-%D8%A5%D9%81-%D9%83%D8%A7%D8%A8%D9%8A%D8%AA%D8%A7%D9%84-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D8%A8%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AA%D8%B1%D8%AA%D9%81%D8%B9-5-4-%D9%81%D9%8A-%D8%A7%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%A3%D9%88%D9%84/)

[klyoum.com](https://www.klyoum.com/uae-news/ar/28-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%81%D9%8A-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%8A%D8%B3%D8%AC%D9%84-%D9%85%D8%B3%D8%AA%D9%88%D9%8A%D8%A7%D8%AA-%D9%82%D9%8A%D8%A7%D8%B3%D9%8A%D8%A9)

[Presbee](https://www.pressbee.net/show6787113.html?title=%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%81%D9%8A-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%8A%D8%B3%D8%AC%D9%84-%D9%85%D8%B3%D8%AA%D9%88%D9%8A%D8%A7%D8%AA-%D9%82%D9%8A%D8%A7%D8%B3%D9%8A%D8%A9)

[UAE News](http://uaenewsapp.com/1/Article/2065/235401268)

[Forbes Middle East](https://www.forbesmiddleeast.com/ar/industry/economy/report-gold-prices-could-increase-10-this-year)

[nabd.com](https://nabd.com/s/124631598-dd16c8/%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D8%AA-%D8%A8%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A8%D8%A3%D9%83%D8%AB%D8%B1-%D9%85%D9%86-10-%D9%81%D9%8A-%D8%A7%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%8C-%D8%A8%D8%B9%D8%AF-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-5.4-%D9%81%D9%8A-%D8%A7%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%A3%D9%88%D9%84-%D8%A8%D8%B3%D8%A8%D8%A8-%D8%A7%D9%84%D8%A3%D8%B2%D9%85%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D9%82%D8%B1%D8%A7%D8%B1-%D8%A7%D9%84%D9%86%D8%B3%D8%A8%D9%8A-%D9%84%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1)

[nshra.com](https://nshra.com/archive/?id=4a216f1635b78d5c4b245e0622630e94/index.html)

[lebanese-forces.com](https://www.lebanese-forces.com/2023/09/05/gold-uae/)

[arabwindow.net](https://www.arabwindow.net/archive/economy/news5188505.html?fbclid=IwAR3DmHKiIpIb1hPLQvcUJYQPwm1WrWPygO06IIX--ntezfRSfYfomy8X8Kg)

[sahafahh.net](https://www.sahafahh.net/story/17462519/%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%81%D9%8A-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%8A%D8%B3%D8%AC%D9%84-%D9%85%D8%B3%D8%AA%D9%88%D9%8A%D8%A7%D8%AA-%D9%82%D9%8A%D8%A7%D8%B3)

[alflous.com](https://alflous.com/42616/%D8%AF%D9%8A-%D8%A5%D8%AA%D8%B4-%D8%A5%D9%81-%D9%83%D8%A7%D8%A8%D9%8A%D8%AA%D8%A7%D9%84-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D8%A8%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1/)

[goldbullioneg.com](https://goldbullioneg.com/%d8%a3%d8%b3%d8%b9%d8%a7%d8%b1-%d8%a7%d9%84%d8%b0%d9%87%d8%a8-%d8%a8%d8%a7%d9%84%d8%a5%d9%85%d8%a7%d8%b1%d8%a7%d8%aa-%d8%aa%d8%b1%d8%aa%d9%81%d8%b9-5-4-%d9%81%d9%8a-%d8%a7%d9%84%d9%86%d8%b5%d9%81/)

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The UAE’s Gold Sector is Elevating to New Heights

The financial advisory market volume of the UAE is projected to exceed Dh875 billion in 2023 on the back of a major upswing in the influx of ultra-high-net-worth individuals (UHNWI) to the country.

Home to over 200 nationalities, the UAE has typically seen migration inflows of 1,000 high-net-worth individuals (HNWIs) per year, says Bas Kooijman, CEO and asset manager of DHF Capital, a securitisation firm for financial services. In 2022, the UAE, one of the most preferred destinations in the world for the wealthy, welcomed over 5,200 people from this bracket, recording a jump of 18 per cent.

“*This strong growth is set to sustain in 2023 with industry analysts expecting that 4,500 millionaires will move to and permanently reside in the Emirates. For over 50 years, the UAE has laid the groundwork for such an evolution but Covid-19 appears to have accelerated this progress,*” said Kooijman.

He said the deft handling of the pandemic demonstrated the country’s ability to foster safety and security while also protecting residents’ best interests and the nation’s economy. “*These efforts garnered global attention to attract affluent investors from all over the world. In turn, a strong influx of wealth has entered the country over recent years*.”

According to the latest list compiled by residence and citizenship planning firm Henley and Partners using resident millionaires as its metric to rank the wealth of each hub, Dubai rounds out the top 20 with 64,800 millionaires calling the city home, while New York City retained its crown as the world’s wealthiest city.

Data shows that assets under management (AUM) in the UAE’s wealth management market are forecasted to reach upwards of Dh938 billion in 2023 while showing a CAGR of 10 per cent to result in a market volume of nearly Dh1.4 trillion between now and 2027, said Kooijman.

The UAE’s financial wealth will witness a strong expansion in coming years, growing from $700 billion in 2021 to $1 trillion in 2026, according to a Boston Consulting Group study.

Data provided by Statista shows that assets under management in the UAE wealth management market are projected to reach $239.40 billion this year with financial advisory dominating the market with a projected market volume of $223.50 billion in 2023. Assets under management are expected to show an annual growth rate (CAGR 2023-2027) of 10.59 per cent, resulting in a market volume of $358.10 billion by 2027.

According to the GlobalData Country Risk Index, the UAE is a low-risk nation that ranks 10th out of 153 countries worldwide. Meticulous management of the pandemic, alongside proven stability through times of turbulence such as the financial crisis in the early 2000s, has been among factors behind this status.

Investment experts and asset managers see the UAE as an ideal mid-point between the West and the East, with both European and Asian private banks and wealth managers establishing or expanding their operations. They believe more global wealth will pour into the UAE from all over the world as the Arab world’s second largest economy continues to develop and evolve its economy, regulations and broader wealth management offering.

The growth of the economies in the region, of private wealth locally, and the continuing rapid inflow of HNW and UHNW families and wealth from across the globe provide the tailwinds for the expansion of the market, with sufficient headroom even today for the rising number and diversity of competitors in the wealth management space, experts said.

Sources: [Khaleej Times](https://www.khaleejtimes.com/business/uaes-financial-advisory-market-likely-to-hit-dh875-billion)

[MEA Finance](https://mea-finance.com/uaes-financial-advisory-market-volume-is-forecasted-to-exceed-aed-875-billion-in-2023/)

[Zawya](https://www.zawya.com/en/press-release/companies-news/uaes-financial-advisory-market-volume-is-forecasted-to-exceed-aed-875bln-in-2023-kxtdr2kq)

[Mena FN](https://menafn.com/1106551235/UAEs-financial-advisory-market-volume-is-forecasted-to-exceed-AED-875-billion-in-2023)

[UAE News 24/7](https://uaenews247.com/2023/07/04/uaes-financial-advisory-market-volume-is-forecasted-to-exceed-aed-875-billion-in-2023/)

[Middle East Economy](https://economymiddleeast.com/news/uaes-financial-advisory-market-volume-to-exceed-aed-875-bn-in-2023/)

[UAE Times](https://uaetimes.ae/uae-financial-advice-market-could-reach-aed875-billion-news/)

[Trends Mena](https://trendsmena.com/business/uaes-financial-advisory-market-to-touch-us239-billion-in-2023/)

[albayan.ae](https://www.albayan.ae/economy/uae/2023-07-04-1.4690199)

[pressbee.net](https://www.pressbee.net/show6482491.html)

[indexeconomic.com](https://indexeconomic.com/?p=73479)

[roayahnews.com](https://roayahnews.com/875-%d9%85%d9%84%d9%8a%d8%a7%d8%b1-%d8%af%d8%b1%d9%87%d9%85-%d8%a3%d8%b1%d8%a8%d8%a7%d8%ad-%d8%b3%d9%88%d9%82-%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%b4%d8%a7%d8%b1%d8%a7%d8%aa-%d8%a7%d9%84%d9%85%d8%a7/)

[shoofee.news](https://shoofee.news/business/875-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D8%B1%D9%87%D9%85-%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%81%D9%8A/#)

[w6nnews.com](https://w6nnews.com/%D8%A7%D8%AE%D8%A8%D8%A7%D8%B1-%D8%A7%D9%84%D8%A7%D9%85%D8%A7%D8%B1%D8%A7%D8%AA/875-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D8%B1%D9%87%D9%85-%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%81%D9%8A/)

[sahafahh.net](https://www.sahafahh.net/story/16847984/875-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D8%B1%D9%87%D9%85-%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%81%D9%8A)

[nshra.com](https://nshra.com/archive/?id=38b3d447df80bd4b09951d123d862751/index.html)

[mubasher.info](https://www.mubasher.info/news/4149397/239-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AD%D8%AC%D9%85-%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-2023/?currentUserCountryCode=PH)

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UAE’s financial advisory market likely to hit Dh875 billion

UAE: Gold prices continue to drop on Friday, fall Dh2 per gram since Thursday morning

On Wednesday, gold reached a new all-time high of $2,758 driven by strong momentum amid US political uncertainty, geopolitical tensions in the Middle East, and global central banks' easing policies.

These factors are once again fueling sustained demand for gold as a safe haven.

“With the US presidential election just over two weeks away, polls suggest that former President Donald Trump's chances of winning are increasing. This possibility is prompting investors to seek more safe-haven assets like gold to hedge against potential controversial policies he might implement, which could impact inflation, monetary policy, and global trade,” wrote Bas Kooijman, CEO and Asset Manager of DHF Capital S.A.

“Additionally, the persistent geopolitical tensions in the Middle East are supporting gold prices, as demand for safe haven assets grows with no clear signs of de-escalation in the near term.”

The big gold story of the week was Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM, ETR:NMM)'s 3Q earnings miss, which caused the gold producer to lose nearly 10% of its market value.

Elsewhere, gold juniors were making news with tidy capital raises, new metallurgy results and continued exploration pushes. Here’s some of the gold stories making news this week.

Source: <a href="https://www.proactiveinvestors.com/companies/news/1059196/gold-recorded-new-all-time-high-this-week-as-us-election-geopolitical-tensions-heat-up-1059196.html" target="_blank"> Proactive </a>

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Gold recorded new all-time high this week as US election, geopolitical tensions heat up

As Generation Z (Gen Z) comes of age, traditional financial pathways seem less appealing compared to innovative alternatives like crowdfunding and peer-to-peer (P2P) lending.

If you are a Gen Z, now entering the workforce, and seeking new avenues for investment that align with your values and lifestyle, learn about these methods that present exciting opportunities, however, also be aware of the risks.

Understanding the landscape
Crowdfunding has transformed the way startups and creative projects secure funding. Platforms like Kickstarter, Indiegogo, and GoFundMe allow individuals to invest in projects they believe in, often in exchange for rewards, equity, or future returns. Meanwhile, P2P lending platforms such as LendingClub and Prosper connect borrowers directly with investors, allowing users to earn interest on loans.

These methods appeal to Gen Z for several reasons: they are digital-native, socially conscious, and often seek to support entrepreneurs who align with their values. According to a 2022 report by Deloitte, 70 per cent of Gen Z prefers to invest in companies that prioritize social responsibility. This preference fuels the appeal of crowdfunding, where many projects aim to make a positive impact.

“Crowdfunding and peer-to-peer lending have become popular alternative investment strategies for Gen Z, and they offer a unique way to grow capital.

“Palmer Luckey (founder of Oculus Rift) is a notable example of successful crowdfunding; he began his campaign in 2012 at the age of 20, resulting in more than 9,500 backers, raising over $2.4 million (Dh8.8 million), and becoming one of the biggest crowdfunding success stories at the time.

“Other successful efforts of crowdfunding include the likes of Peloton - which also saw a 66 per cent increase in sales and a 94 per cent increase in subscribers during the early stage of the pandemic - and Veronica Mars, a film starring Kristen Bell, among other proven cases,” said Bas Kooijman, CEO and asset manager at securitisation company DHF Capital S.A.

The rewards
1. Accessibility and inclusivity: One of the most significant advantages of crowdfunding and P2P lending is their accessibility. Unlike traditional investment avenues, which often require substantial capital and financial acumen, these platforms allow even small investors to participate. For Gen Z, who may have limited financial resources, this facilitates the investment landscape.

2. Potential for high returns: Investors can potentially see higher returns compared to traditional savings accounts or bonds. Successful crowdfunding campaigns can yield significant profits, especially when backing innovative startups.

3. Supporting innovation and change: Gen Z is characterised by a desire to effect change. By investing in startups through crowdfunding, they can help bring innovative ideas to life, often in fields like sustainability, technology, and social justice. This alignment of values can make investing feel more purposeful.

4. Diversification opportunities: Both crowdfunding and P2P lending offer unique ways to diversify a portfolio. By investing in a variety of projects or loans, individuals can spread their risk across different sectors and asset classes.

“The accessibility and potential for high returns that a platform like Kickstarter, for example, offers is key especially when starting with smaller investments.

“It’s also helpful to understand the different types of crowdfunding platforms, such as equity-based (where you receive a share in the company) and rewards-based (where you get a tangible product or other perks), so you can choose the one that aligns best with your financial goals and risk tolerance.

“For Gen Z investors, who may not have large amounts of capital to invest, these options provide an entry point into the investment world that’s both exciting and innovative,” added Kooijman.

The risks
Despite the enticing rewards, these investment strategies are not without their downsides.

1. High risk of failure: The majority of startups fail within the first few years. Investors in crowdfunding projects can lose their entire investment if a company goes under. Unlike public companies, which are subject to regulatory scrutiny, many crowdfunding campaigns lack the same level of oversight, making it challenging to assess a project's viability.

2. Illiquidity: Investments made through crowdfunding or P2P lending are typically illiquid, meaning that funds are tied up for extended periods. Investors may not be able to access their money until the project succeeds or the loan is repaid, which can take years. This lack of liquidity can be particularly concerning for younger investors who may need quick access to their funds.

3. Regulatory risks: The regulatory landscape for crowdfunding and P2P lending is still evolving. Changes in laws and regulations can impact the viability of platforms and the security of investments. Gen Z investors should stay informed about potential regulatory shifts that could affect their investments.

4. Potential for default: In P2P lending, there is always the risk that borrowers may default on their loans. While platforms often conduct credit checks, there are no guarantees. In cases of default, investors may not recoup their initial investment, highlighting the importance of understanding borrower risk.

“However, as with all investments, there are risks; crowdfunding and peer-to-peer lending typically come with a higher level of it, mainly because the investments are less regulated and may lack the oversight that traditional investments have.

“For instance, if a startup fails or a borrower defaults, you could lose your investment entirely. Additionally, these types of investments can be less liquid, meaning it might be difficult to pull out your money quickly if you need it.

“With careful research and by spreading your investments across multiple projects, you can mitigate some of these risks,” added Kooijman.

Making informed decisions
For Gen Z investors, the key to navigating the world of crowdfunding and P2P lending is education. Understanding the potential risks and rewards is essential for making informed investment choices. Here are some strategies for mitigating risks:

- Conduct thorough research: Before investing in a crowdfunding campaign or P2P loan, it’s crucial to conduct due diligence. This includes reviewing the business plan, assessing the project's feasibility, and understanding the team behind the venture.

- Diversify investments: Rather than putting all funds into one project or loan, investors should consider diversifying across multiple investments to spread risk. This strategy can help cushion the blow if one or two investments underperform.

- Start small: For those new to these investment strategies, starting with smaller amounts can help mitigate potential losses while gaining experience in the space.

Bhavik Mehta, deputy head research - investment products, at investment company Century Financial shared insights with Gulf News saying,

“They are digital-savvy and comfortable leveraging technology to explore and excel inside gigs. With the gig economy providing a platform for remote work and flexible arrangements, side hustles have become a means for Gen Z and Millennials to pursue their interests, gain experience, and achieve financial independence,” said Bhavik Mehta, deputy head research - investment products, at investment company Century Financial.

- Stay informed: Keeping up with industry trends and news can provide insights into market shifts and help investors make informed decisions.

“Crowdfunding and peer-to-peer lending also allow you to support causes or innovations that align with your values, which can make them particularly appealing to younger investors looking for more than just financial returns.

“Yet, it’s imperative to always approach these alternative investment strategies with a clear understanding of the potential rewards and associated risks,” added Kooijman.

As Gen Z continues to reshape the financial landscape, crowdfunding and peer-to-peer lending present compelling alternatives to traditional investment strategies. While these options offer the promise of high returns and the ability to support innovative projects, they also come with inherent risks. By taking a proactive approach to education and risk management, young investors can navigate this evolving landscape and potentially reap the rewards of their investments.

Ultimately, the future of investing is not just about financial gain; it’s about aligning investments with personal values and contributing to a better world. For Gen Z, crowdfunding and P2P lending may be the perfect blend of purpose and profit, provided they tread carefully and thoughtfully.

Source: <a href="https://gulfnews.com/your-money/saving-investment/crowdfunding-changes-how-millennials-secure-startup-financing-1.1729600735174" target="_blank"> Gulf News </a>

The country’s growing investment for creating job opportunities across several domains is the appealing factor that is attracting the young talent into investments

More and more Gen Z and millennial investors in the UAE are showing a preference for robo-advisors amid the positive outlook for the country’s economy, a market expert said.

The country’s growing investment for creating job opportunities across several domains is the appealing factor that is attracting the young talent into investments, Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., said.

The UAE’s GDP is forecasted to grow by 4.2 percent this year and 5.2 percent in 2025, after achieving an estimated more than 3 percent growth in 2023.

**UAE led the charge in job creation across the Gulf region during Q1 2024**

Kooijman’s comments come amid projections about the number of users in the UAE’s robo-advisors market reaching over 23 million by 2028.

He said according to recent findings, approximately 66 percent of international investors under age 30 now lean towards digital platforms.

Recently released data showed that UAE led the charge in job creation across the Gulf region during Q1 2024, with an 8 percent rise in new jobs compared to last quarter of 2023.

Kooijman said a 103 percent jump in new investor accounts opened on the Dubai Financial Market was registered over the first three months of this year, further cementing the country’s position as an attractive investment destination.

“*As the GCC continues to diversify via digital transformation and sustainable development, the UAE’s job market will play a key role in attracting younger demographics, particularly Gen Z and millenials who are exhibiting great interest in technology*,” he said.

“*While the integration of AI and machine learning technologies has further expedited this transition, tech-savvy millennials also prefer digital platforms for financial services due to cost and convenience*,” he said.

Source: <a href="https://www.arabianbusiness.com/industries/technology/uaes-robo-advisors-market-projected-to-see-quantum-jump-as-gen-z-millennials-take-to-investments-in-a-big-way#:~:text=More%20and%20more%20Gen%20Z,economy%2C%20a%20market%20expert%20said." target="_blank"> Arabian Business </a>

UAE’s robo-advisors market projected to see quantum jump as Gen Z, millennials take to investments in a big way

Akkrue Capital, a non-custodial asset management platform which offers a transformational approach to create and execute digital asset strategies across any market chain, said it successfully concluded its seed funding round in September 2023.

The seed funding round was supported by DHF Capital S.A., a leading Luxembourg based investment management firm, which has now strategically grown its portfolio company offerings to now include Akkrue Capital.

In a statement made available to Business a.m. over the weekend, Bas Kooijman, chief executive officer of DHF Capital S.A., offered reason for participating in the funding round thus: “We are proud to support Akkrue Capital on their journey to success. At DHF Capital S.A. we believe in the power of visionary partnerships and innovative ideas, and Akkrue Capital embodies both. This successful partnership is a testament to our commitment to fostering innovation and supporting challenger and forward-thinking financial institutions. We look forward to a fruitful partnership with Akkrue Capital and anticipate remarkable growth and achievements together.”

Oliver von Wolff, Akkrue Capital’s founder and chief executive officer, speaking on the next step for the company said: “Having DHF Capital S.A. as our partner is a significant endorsement of Akkrue Capital’s mission in digital finance asset management. Their trust and partnership energise our push into decentralised finance, targeting institutional investors and UHNW individuals. This alliance not only validates our vision but also propels us towards achieving global impact and remarkable milestones in DeFi.”

According to the statement the capital from this round will be directed towards advancing Akkrue Capital’s innovative financial products and services, with the company explaining that “Our focus is on providing unparalleled solutions that cater to the unique needs of businesses, institutions, banks, and UHNW individuals, simplifying their navigation through the complex and ever-evolving digital asset landscape.”

It added that Akkrue Capital’s technological strength lies in its vault engine, allowing quick development of fully audited, structured financial products across different DeFi protocols with a user-friendly drag and drop interface. The platform’s ‘advisors’, powered by advanced algorithms and AI, manage assets in vaults with diverse, optimised strategies.

The stated further noted that the OBEX (Order Balancer & Executioner) is a standout feature, serving as a bridge across the DeFi ecosystem, adding that it optimises asset movement, boosts transaction efficiency, and cuts costs, and that this positions Akkrue Capital as a pioneer, seamlessly implementing complex investment strategies across protocols.

The completion of Akkrue Capital’s seed funding round, supported by DHF Capital S.A. marks a significant milestone. Positioned as a pioneer, Akkrue Capital excels in implementing advanced investment strategies across diverse DeFi protocols. As the company embarks on this exciting venture, its attention shifts from mere expansion to the establishment of an enduring legacy within the ever-evolving digital asset management landscape.

Source: <a href="https://www.businessamlive.com/defi-firm-akkrue-capital-closes-first-funding-round-with-support-from-dhf/" target="_blank"> Businessamlive </a>

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DeFi firm, Akkrue Capital, closes first funding round with support from DHF

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Crowdfunding changes how millennials secure startup financing

Enrolling in an internship will not only give you an edge of experience when entering the job market, it will also give you a head start to your financial freedom journey.

The value of internships extends beyond mere experience; they can accelerate career advancement, facilitate networking, and serve as a bridge between education and employment.

Learn the difference in your career and financial journey through enrolling in internships early on in life.

**Experience**

Internships provide you with practical experiences that complementsclassroom learning. In fields ranging from engineering to marketing, real-world exposure allows you to apply theoretical knowledge in practical situations. This hands-on experience is invaluable, as it enables interns to develop essential skills such as teamwork, communication, and problem-solving.

According to a report from the National Association of Colleges and Employers (NACE), candidates with internship experience are significantly more likely to receive job offers than those without.

This advantage can be attributed to the confidence and competence that come from working in a professional environment, where interns learn to navigate workplace dynamics and expectations.

Employers often seek out candidates who demonstrate initiative and adaptability, which are qualities that are cultivated through internship experiences.

“Internships can be a powerful way to fuel your financial future, offering the unique advantage of gaining hands-on experience while you study. They help cover immediate expenses and lay the foundation for long-term financial success.

“Moreover, such training often leads to higher-paying opportunities after graduation since you’ve already demonstrated your capabilities and industry knowledge to potential employers, giving you a sense of accomplishment and confidence in your career prospects,” said Richard Jackson, chief operating officer at recruitment agency TASC Group.

**Financial benefits**

Many students are surprised to learn that internships can also provide financial benefits. While unpaid internships have historically been common, a growing number of companies are offering paid internships, allowing students to earn while they learn. This income can significantly alleviate the financial burden of tuition and living expenses, allowing students to focus more on their studies and career development.

When comparing the financial investment of education against the potential earnings and job opportunities that internships can provide, the return on investment becomes clear.

Students who engage in internships not only earn money during their studies but also position themselves for higher salaries upon graduation.

Bas Kooijman, CEO and asset manager at securitisation company DHF Capital S.A. shared some insights saying,

“By earning an income during these early career stages, you’re not only supplementing your education but also developing practical skills, building a professional network, and even learning how to manage finances.

“The income you make during an internship, although it may not be substantial, can be put toward a small investment account, paying down student loans, or even funding a personal project that could lead to future income opportunities,” said Bas Kooijman, CEO and asset manager at securitisation company DHF Capital S.A.

**Exploring career paths**

Internships are not just about enhancing employability; they also serve as a vital tool for career exploration.

Many students enter college with a vague to no idea of their career aspirations, but internships provide a unique opportunity to test the waters in various fields. By engaging in different roles, students can gain insights into what they enjoy and what aligns with their skill sets.

For instance, if you are a student majoring in communications you might intern at a public relations firm one summer and at a nonprofit organisation the next. These experiences can help clarify your career interests and guide your academic focus. This exploration is particularly important in today's fast-changing job market, where career paths are often nonlinear and require flexibility.

Kimberley D’Souza, founder and CEO of a public relations company shared her experience and how an internship changed her career path.

“Graduated in 2018 when there was an influx of accounting and finance professionals in the market, with a slump in hiring numbers – which got to be quite frustrating. Following conversations with a variety of counsellors, family and friends within the working environment – I essentially applied to anything and everything that was of interest to me since I had previously never worked a day in my life.

“In doing so, I quite literally fell into the world of PR by way of an internship and that was that. I began my career as an intern with TOH PR – a highly reputed PR agency in Dubai – as part of their F&B and Hospitality team.

“Now PRCO – the internship lasted all of five-months following which I was given the opportunity of Account executive within the team and the rest is history. I owe my career to that internship – being someone who was always sheltered growing up - it taught me how to interact with the outside world, professionals of all designations and ages, from all over the world.

“It taught me to be bold, to think outside the box and how the industry – one I had honestly never given much thought to as a career path, worked.

“Today – having a PR agency of my own – even though we’re a start-up – is owed to that internship. As it was the first block in building my future. So, to those afraid to step outside their comfort zone – I say take that risk, jump-in deep – coz you never know how it will help lead you on to a path you had never thought possible.”

Kooijman gave a great analogy when looking at internships to help you explore your desired career path saying, “I encourage young people to think about internships in the same way they would look at a menu in a restaurant; you might think you know what you want and if you’re okay to stick with it, that’s great.

“However, by trying your hand at other items on the menu, or in this case, other internships across multiple industries, you’ll have a better idea of what you want to do in the future. The best time to try different things out is when you’re young, when your responsibilities are minimal, and you have less to lose.”

**Networking opportunities**

One of the most significant yet often overlooked benefits of internships is the networking opportunities they provide. Interns work alongside professionals who are established in their fields, and these interactions can lead to valuable connections. Building a professional network during an internship can open doors to job offers, mentorship, and professional development opportunities down the line.

Networking is increasingly recognised as a critical component of career advancement. Many companies also have internship programmes designed to identify potential full-time employees, which means interns who excel during their internships are often first in line for job offers.

**Accelerating your career advancement**

Internships can significantly shorten the path to career advancement. Students who begin their professional journeys with internship experience often find themselves with a competitive edge when applying for full-time positions. This edge is not just about having a well-rounded resume; it also involves demonstrating a proactive approach to personal and professional development.

The skills learned during internships can often translate into faster promotions and increased responsibilities once interns secure full-time roles. Employers appreciate candidates who have a proven track record of success in real-world settings, and interns who show initiative, adaptability, and strong work ethic are likely to move up the corporate ladder more quickly.

Eve Robinson, intern at sports marketing and commercial partnerships firm Dune 23, gives her first hand experience about her internship

“Personally, I took this opportunity as I see it as an invaluable opportunity to set myself apart from the rest of my academic cohort and apply my theoretical knowledge. I believe that as a student, or a recent graduate, having experience in any working environment is so important to complement your academics.

“So far, my year in industry is serving as an excellent platform for career exploration. Working as an intern has given me the flexibility to experiment with various roles and departments, allowing me to gain insights into different career paths before committing to one.

“This exposure has naturally enhanced my ability to interact with industry professionals, and I now feel more confident in my professional capabilities as I prepare for future job opportunities.

“Beyond gaining experience, internships provide the ability to start earning. Working in professional environments not only means you can directly earn money, but also can indirectly help you earn more in the future.

“In your search for a job, internships give your CV substance and the ability to negotiate your salary. Moreover, many companies use internships as a recruiting tool, hiring successful interns for full-time positions, thereby saving costs associated with post-graduation job searching.

“Most importantly, the experience I’ve gained during this internship is invaluable when it comes to future job interviews. Having practical skills and a deep understanding of workplace dynamics can give me a competitive edge over other applicants.

“Employers are often looking for candidates who demonstrate professionalism and the ability to adapt to real-world situations, which is something that I can confidently offer alongside my academic qualifications. By blending my education with this hands-on experience, I am positioning myself for greater success in my career.”

Arthur Kond, creative director at multimedia production studio Sila Sveta, shared his personal experience and how through an internship he discovered his passion and ultimately his career.

“When I started working at Sila Sveta, there were no internships at the studio, and it was still quite a small business in the multimedia industry. I was invited as a freelancer to create 2D graphics and motion design, where I offered my vision for one of the scenes, even changing the creative director’s script, and the team liked it.

“After that, I joined the studio on a permanent basis and became a designer, quickly developing new skills. Over time, I was appointed art director, and later — creative director. Throughout my journey, I always took initiative and wasn’t afraid to propose my ideas, even when it wasn’t required.

“For example, the producer and I proposed our own vision for the FIFA Qatar closing ceremony, even though there was no initial request for it. A few months later, our idea was approved, and we were able to bring the show to life. That’s why internships are a valuable starting point, where you can experiment, learn through practice, and lay the foundation for future professional growth.”

Internships are an essential part of young adults’ journeys into the professional world. They offer a wealth of benefits, including practical experience, financial compensation, career exploration, and invaluable networking opportunities. As students seek to maximise their educational investment, engaging in internships can serve as a critical strategy for enhancing employability and achieving long-term career success.

With the job market becoming increasingly competitive, internships are not just a luxury; they are a necessity for those looking to build meaningful careers. By taking advantage of these opportunities, young adults can develop the skills, connections, and experience needed to thrive in their chosen fields, ultimately setting themselves up for faster advancement and greater financial stability in the future.