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4 10, 2024

XAGUSD Still Bullish Despite Upbeat US Jobs Data

By |2024-10-04T23:39:19+03:00October 4, 2024|Forex News, News|0 Comments


    Summary:

  • Silver price is under renewed pressure from the US dollar following forecast-beating Non Farm Payrolls data, but XAGUSD could recover shortly.

Silver price declined marginally on Friday, going down by 0.5 to trade at $31.87 at the time of writing on the heels of upbeat US labour market data. The greyish metal got rejected at $32.30 in its most recent ascent, but it will likely attempt another go at it as the geopolitical situation in the Middle East provides tailwinds.

US Non-Farm Payrolls numbers beat forecasts in September, coming in at 254k against the median forecast figure of 147k. Meanwhile, the August reading was revised upward from 142k to 159k, signaling a robust jobs situation. In addition, unemployment rate fell to 4.1 percent from August’s 4.2 percent which analysts had forecast to remain unchanged.

Solid jobs growth in the United States eases pressure on the Federal Reserve to cut interest rates by a deeper margin and puts pressure on dollar-denominated silver. With inflation subsiding significantly in recent months, the Fed will likely pay greater attention to the jobs market in its interest rate decision making.

That said, continued escalation of war in the Middle East and the fear sentiment surrounding it will provide safe haven demand for silver as investors seek to diversify their portfolio. Israel had sworn to retalliate Iran’s missile attack, and markets willl be on the edge as investors wait to see the direction the conflict takes. That could provide support for silver price in the near-term.

Silver price prediction today

The momentum on silver price calls for further downside, with the MACD indicator line below the signal line. The pivot will likely be at 32.10, with the first support coming at 31.90. However, a stronger bearish momentum could breach that mark and send the price to test 31.80.

Alternatively, moving above 32.10 will favour the buyers, who could advance further to the first resistance at 31.90. However, if they manage to break above that mark, the downside narrative will be invalid, and the momentum could see the price move to the next barrier established at 31.80.

XAGUSD Still Bullish Despite Upbeat US Jobs Data



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4 10, 2024

Pound Sterling loses ground amid US Dollar strong comeback

By |2024-10-04T22:03:08+03:00October 4, 2024|Forex News, News|0 Comments

  • The Pound Sterling extended its correction from 30-month highs against the US Dollar.
  • Will US inflation data revive GBP/USD buyers next week?
  • Technically, the path of least resistance appears down for the Pound Sterling.

The Pound Sterling (GBP) closed the week deep in the red against the US Dollar (USD), as the GBP/USD extended the correction from 30-month highs to below 1.3100.

Pound Sterling yields into the US Dollar resurgence

GBP/USD failed to sustain at higher levels and returned to negative territory, giving up almost 300 pips in the past week. The pair faced a double whammy, with the resurgence of the demand for the US Dollar on one hand while on the other side, the Pound Sterling was thrown under the bus on the Bank of England’s (BoE) dovish policy expectations and the risk-averse market environment.

The recent slew of strong US economic data, including JOLTS Job Openings, ADP Employment Change and ISM Services PMI poured cold water on bets that the Federal Reserve (Fed) will opt for a 50 basis points (bps) interest rate cut in November, fuelling a sustained recovery in the US Dollar against its major rivals.

Data on Tuesday showed that US Job Openings rebounded to a three-month high in August, arriving at 8.04 million after declining to 7.71 million in July. The Automatic Data Processing (ADP) reported on Wednesday that the US private sector employment increased by 143,000 jobs for September, accelerating from the upwardly revised 103,000 in August and better than the 120,000 estimate.

Meanwhile, US ISM Services PMI jumped from 51.5 to 54.9 in September, above the forecast of 51.7 while marking the highest reading since February 2023. Markets now price in about a 34% chance that the Fed will deliver a big rate cut at its next meeting, compared with almost 60% last week, the CME Group’s FedWatch Tool shows. 

The Greenback also drew haven demand from mounting risks of the Israel-Iran conflict turning into a wider regional war in the Middle East. Iran conducted missile attacks on Israel to avenge last week’s killings of leaders of the Tehran-back militant group Hezbollah. Israel responded by striking an apartment in central Beirut, which killed nine people. The Lebanese Army returned Israeli fire for the first time in nearly a year of fighting between Israel and Hezbollah. 

On the Pound Sterling side of the equation, the prevalent risk aversion continued to remain a weight on the high-beta currency. However, it was BoE Governor Andrew Bailey’s dovish commentary in an interview with The Guardian on Thursday that exacerbated its pain, knocking off the GBP/USD pair to the lowest level in three weeks at 1.3092.

Bailey said that the BoE could become a bit ‘more activist’ on rate cuts if there’s further good news on inflation. Following his remarks, UK money markets suggested about 42 bps of rate cuts to bank rate in the remainder of 2024 versus about 36 bps on Wednesday.

The pair licked its wounds on Friday amid persistent Middle East concerns and the market’s nervousness heading into the US NFP showdown. Nevertheless, GBP/USD turned south in the second half of the day and dropped below 1.3100 as the USD capitalized on the upbeat US data. Nonfarm Payrolls (NFP) in the US rose by 254,000 in September, beating the market forecast of 140,000 by a wide margin. Moreover, August’s NFP increase of 142,000 got revised higher to 159,000.

Watch out for the US consumer inflation data

The early part of the upcoming week is a quiet one until midweek when the Minutes of the Fed’s September meeting will be released on Wednesday. The absence of high-impact economic releases from the UK and the US will put the focus on a flurry of speeches from the Fed policymakers on Monday and Tuesday.

On Thursday, the highly influential US Consumer Price Index (CPI) data will be reported alongside the weekly Jobless Claims. Following the data releases, New York Fed President John Williams is due to participate in a moderated discussion about the economic outlook and monetary policy at Binghamton University.  

Friday will feature the monthly Gross Domestic Product (GDP) and Industrial Production data from the UK. The US calendar will see the publication of the Producer Price Index (PPI) and preliminary Michigan Consumer Sentiment and Inflation Expectations data the same day.

Besides, Middle East geopolitical developments will continue to remain on traders’ radars throughout the week, as tensions between Israel and Iran intensify.

GBP/USD: Technical Outlook

As observed on the daily chart, the GBP/USD pair has breached the critical support levels on its corrective decline from over two-and-a-half-year highs of 1.3434 reached last week.

Thursday’s closing below the 21-day Simple Moving Average (SMA) at 1.3230, followed by a sustained break of the falling trendline resistance turned support at 1.3165, empowered sellers further.

Looking ahead, the risks appear skewed to the downside for GBP/USD, as the 14-day Relative Strength Index (RSI) holds its position well below the 50 level, currently near 44.

The immediate support for buyers is aligned at the 50-day SMA at 1.3076. A weekly closing below it would initiate a fresh downtrend toward the 1.3000 psychological mark.

The next bearish target is seen at the 100-day SMA at 1.2926. The last line of defense for buyers is located at 1.2779, the key 200-day SMA.

Conversely, any recovery attempt will likely meet the initial contention area at around 1.3160, the previous falling trendline support now turned resistance.

Acceptance above the 21-day SMA at 1.3230 is needed to negate the near-term bearish bias.

Pound Sterling will then target the 1.3300 round level on the road to recovery, above which the 30-month top of 1.3434 will be back on buyers’ radars.

 

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4 10, 2024

Coffee Prices Retreat on Forecasts for Rain in Brazil

By |2024-10-04T21:36:57+03:00October 4, 2024|Forex News, News|0 Comments


December arabica coffee (KCZ24) today is down -1.85 (-0.70%), and November ICE robusta coffee (RMX24) is down -72 (-1.35%).

Coffee prices are moving lower today as forecasts for rain in Brazil sparked long liquidation coffee futures.  Today’s two-week Global Forecast System model showed rain is expected for Brazil’s coffee-growing regions next week during the all-important flowering period for Brazil’s coffee trees.

The downside in coffee prices is limited today after Conab, Brazil’s crop forecasting agency, cut its 2024 Brazil coffee production forecast to 54.8 million bags from 58.8 million bags forecast in May.

Strength in the Brazilian real (^USDBRL) is bullish for arabica coffee prices as the real rallied to a 1-month high against the dollar today, discouraging export selling from Brazil’s coffee producers.

On Monday, Dec arabica and Nov robusta posted contract highs, while nearest-futures (U24) robusta posted a new all-time high.  Coffee prices have rallied sharply over the past week as adverse global weather events threaten coffee production.  Brazil has been facing the driest weather since 1981, according to the natural disaster monitoring center Cemaden.  Rainfall in Brazil has consistently been below normal since April, damaging coffee trees during the all-important flowering stage and reducing the prospects for Brazil’s 2025/26 arabica coffee crop.  Somar Meteorologia reported Monday that Brazil’s Minas Gerais region received no rain over the past week.  Minas Gerais accounts for about 30% of Brazil’s arabica crop.  Also, robusta coffee has support after heavy rain from typhoon Yagi may have damaged Vietnam’s robusta coffee fields.

Robusta coffee prices are underpinned by fears that excessive dryness in Vietnam will damage coffee crops and curb future global robusta production.  Vietnam’s agriculture department said on March 26 that Vietnam’s coffee production in the 2023/24 crop year dropped by -20% to 1.472 MMT, the smallest crop in four years, due to drought.  The USDA FAS on May 31 projected that Vietnam’s robusta coffee production in the new marketing year of 2024/25 will dip slightly to 27.9 million bags from 28 million bags in the 2023/24 season.  Last Wednesday, the General Department of Vietnam Customs reported that Vietnam’s August coffee exports fell -9.9% y/y to 76,214 MT and that Vietnam’s Jan-Aug coffee exports fell -12.1% y/y to 1.06 MMT.

Last Tuesday, Cecafe reported that Brazil’s Aug green coffee exports rose +1.4% y/y to 3.41 million bags.  The rise in Brazil’s green coffee exports was consistent with other recent news showing higher exports.  The Brazilian Trade Ministry reported on August 7 that Brazil’s July coffee exports rose +44% y/y to 202,000 MT.  Also, Cecafe reported on July 11 that Brazil’s 2023/24 coffee exports rose +33% y/y to a record 47.3 million bags.  On a global basis, the International Coffee Organization (ICO) reported on September 6 that global coffee exports rose +12.2% y/y in July to 11.29 million bags and that global exports during Oct-July rose +10.5% y/y to 115.01 million bags.

A rebound in ICE coffee inventories from historically low levels is negative for prices.  Last Thursday, ICE-monitored arabica coffee inventories rose to a 1-1/2 year high of 858,474 bags, up from the 24-year low of 224,066 bags posted in November 2023.  Also, ICE-monitored robusta coffee inventories on July 25 rose to a 1-year high of 6,521 lots, up from the record low of 1,958 lots posted in February 2024.

In a bearish factor, the International Coffee Organization (ICO) said on May 3 that 2023/24 global coffee production climbed +5.8% y/y to 178 million bags due to an exceptional off-biennial crop year.  ICO also said global 2023/24 coffee consumption rose +2.2% y/y to 177 million bags, resulting in a 1 million bag coffee surplus.

The USDA’s bi-annual report on June 20 was bearish for coffee prices.  The USDA’s Foreign Agriculture Service (FAS) projected that world coffee production in 2024/25 will increase +4.2% y/y to 176.235 million bags, with a +4.4% increase in arabica production to 99.855 million bags and a +3.9% increase in robusta production to 76.38 million bags.  The USDA’s FAS forecasts that 2024/25 ending stocks will climb by +7.7% to 25.78 million bags from 23.93 million bags in 2023/24.  The USDA’s FAS projects that Brazil’s 2024/25 arabica production would climb +7.3% y/y to 48.2 mln bags due to higher yields and increased planted acreage.  The USDA’s FAS also forecasts that 2024/54 coffee production in Colombia, the world’s second-largest arabica producer, will climb +1.6% y/y to 12.4 mln bags. 

More Coffee News from Barchart

On the date of publication,

Rich Asplund

did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy

here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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4 10, 2024

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By |2024-10-04T20:49:26+03:00October 4, 2024|Dietary Supplements News, News|0 Comments


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4 10, 2024

EUR/USD Forecast Today – 04/10: 1.10 Level (Video & Chart)

By |2024-10-04T20:01:29+03:00October 4, 2024|Forex News, News|0 Comments

  • The Euro initially did drop a bit during the early hours on Thursday, but really at this point in time, the 1.10 level underneath continues to be the main area of interest as the marketplace does tend to go back and forth between the same large round figures.
  • As long as that’s going to be the case, I’m not really going to change my opinion or tactics much.
  • Really at this point, I think we probably get a little bit of a bounce.

I don’t necessarily think that it’s going to be a massive one, but I do recognize that we are in an area that, more likely than not, will continue to attract attention. On a rally from here, the 1.12 level could be the target, which is probably worth noting as a major resistance barrier going back all the way to the beginning of 2022.

The market pulling back the way it has during the week does suggest that perhaps we are not ready to go to the upside and that would make a certain amount of sense I suppose because both central banks are likely to be cutting rates, and I don’t see how that changes much.

ECB and Fed

The ECB already has cut a couple of times and now the question is with CPI in the European Union, perhaps coming under its target even more than it’s no longer an inflationary situation. It’s a question as to whether or not the ECB will have to stimulate and if that ends up being the case that obviously will work against the euro. The Federal Reserve has cut 50 basis points and that was a bit shocking. We saw the Euro rise higher because of it. But now the question is, how much further do they have to cut? Probably have to wait and see on that one, but I think at this point, we’re just going back and forth between major round numbers. 1.10 underneath is massive support. 1.12 above is massive resistance.

Ready to trade our daily EUR/USD Forex forecast? Here’s a list of some of the top forex brokers in Europe to check out. 

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4 10, 2024

Solana (SOL) Price Prediction for October 4

By |2024-10-04T20:00:22+03:00October 4, 2024|Crypto News, News|0 Comments

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The market keeps trading in the green zone, according to CoinStats.

Article image
SOL chart by CoinStats

SOL/USD

The price of Solana (SOL) has increased by 4.09% since yesterday.

Article image
Image by TradingView

On the hourly chart, traders should pay attention to the daily bar’s closure in terms of the $141.03 level. If it happens above it, the upward move is likely to continue to the $145 mark tomorrow.

Article image
Image by TradingView

On the bigger time frame, buyers are trying to come back to the game after yesterday’s bearish closure. 

Related

XRP Price Prediction for October 3

If they manage to do that and the candle closes in the zone of $144 or above, there is a chance to see a test of the $150 area soon.

Article image
Image by TradingView

From the midterm point of view, the picture is less positive. The rate of SOL is far from the resistance of $162, which means it is too early to think about a fast reversal. If sellers’ pressure continues and the price reaches the $130 mark, the energy might be enough for a move to the support level of $116.

SOL is trading at $142 at press time.

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4 10, 2024

Collagen Market Size to Reach Around USD 27.47 Billion by

By |2024-10-04T18:47:11+03:00October 4, 2024|Dietary Supplements News, News|0 Comments


Ottawa, Oct. 04, 2024 (GLOBE NEWSWIRE) — The global collagen market size was estimated at US$ 10.73 billion in 2023 and is projected to reach around US$ 27.47 billion by 2034, expanding at a CAGR of 8.9% from 2024 to 2034. The expanding area of application of collagen, rising health awareness, and the increasing demand for functional foods drives the collagen market. Collagen is commonly found in the skin, tissues, and bones of the body. The body constantly develops collagen. However, collagen production within the body naturally declines with age, which reduces the skin’s structural integrity and leads to the formation of lines and wrinkles.

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Collagen is one of the essential elements added in food and drinks for its benefits, which include stability of foams, texture, and chewiness. It is a vital component of health supplements, which aid in muscle growth. It is also added to ice creams, confectionery, nutritional bars, and dairy items. Within the medicinal field, it has been applied to curb dietary disorders, treat malnourishment and digestive problems, and maintain skin firmness. The rising usage of collagen in food and beverages and the increasing demand for health supplements contribute to the market expansion.

Collagen Market Size to Reach Around USD 27.47 Billion by

Report Highlights

  • By region, Asia Pacific is expected to grow at a significant rate during the forecast period.
  • By source insights, the bovine segment dominated the market in 2023.
  • By source insights, the marine segment is expected to grow at the fastest rate during the forecast period.
  • By product insights, the gelatin segment led the market in 2023.
  • By application insights, the food and beverage segment dominated the market in 2023.

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Report Coverage Details
Market Size in 2024 USD 11.40 Billion
Market Size by 2034 USD 27.47 Billion
Market CAGR 8.9% from 2024 to 2034
Market Segmentation Source, Product, Application, Type, Form, Function, Region
Key Players Nippi Inc, Nitta Gelatin, Vinh Hoan, Weishardt, GELITA AG, CollPlant, Collagen Solutions, Koninklijke DSM NV, Lapi Gelatin, Getinge AB, and Integra LifeSciences Holdings

North America dominated the collagen market in 2023.

  • North America witnessed significant growth in collagen products due to factors such as rising awareness about the benefits of collagen, affordability, and technological advancements in the collagen production process.
  • The growing aging population and the presence of a robust healthcare sector also fueled the regional market growth.
  • Furthermore, the increasing production of gummy confectionery products fortified with collagen, especially in Canada and Mexico, and increased sales of collagen supplements in these countries contributed to the market growth in North America.

Asia Pacific is expected to grow at a significant rate

  • The rising use of collagen for multiple purposes, including nutraceuticals, food and beverage additives, and processed meats, is expected to fuel the growth of the collagen market in the region.
  • The upsurge in the consumption of gelatin in desserts, chewing gums, and jellies and the rising demand for functional foods further boost the market.
  • Collagen fortifies the protein content in functional foods and drinks and promotes the well-being of the skin, hair, nails, and even the bones.

Europe is experiencing substantial growth

  • Europe is anticipated to experience substantial growth during the forecast period. This is mainly due to the presence of many confectionery manufacturers and the high demand for confectionery items.

Collagen Market Segment Insights

Source Insights

The bovine segment dominated the global collagen market with the largest share in 2023. Bovine-based collagen is mostly found in cattle, pigs, or aquatic animals. It is mostly derived from cow’s bones in the form of powder. Bovine-based collagen helps alleviate osteoarthritis symptoms, reduces signs of aging by improving skin elasticity, and prevents bone loss. In addition, bovine collagen is used as a thickening agent in various drinks, such as juice, coffee, or smoothies. It can also be added to baked goods and sweets, such as pancakes, yogurt, cakes, and muffins.

  • In February 2024, GT’s Living Foods introduced AURA Collagen Tea, a beverage collection featuring bovine collagen, 15 grams of protein peptides, and 2 grams of sugar, boosting collagen production for skin elasticity, joint strength, and hair growth.

The marine segment is expected to grow at the fastest rate during the forecast period. Marine collagen is mostly derived from fish skin and is considered type 1 collagen, which is helpful for improving the appearance of skin, nails, and hair. Because of its smaller particles, it is more absorbable and easier to break down. Thus, it is commonly used in anti-aging formulations. Marine collagen is also rich in glycine, an amino acid that has calming effects on the stomach tissues. It affects sleep positively, too, since it contains amino acids like glycine that are not useful as essential nutrients but are helpful for insomnia. Moreover, it is considered a more sustainable option than bovine collagen.

  • In July 2024, Proto-col introduced its first Verisol F Marine Collagen range, a premium collagen peptide known for its skin elasticity, wrinkle reduction, and cellulite reduction properties, enhanced with vitamins and minerals for transformative skincare.

Product Insights

The gelatin segment led the market in 2023. Gelatin, a protein made from collagen, is commonly obtained from animals’ bones, cartilage, and skin. It is widely used in various products, including desserts, broth, soups, sauces, confections, candies, and pharmaceuticals. Gelatin is produced by the hydrolysis of collagen derived from animals. Due to its rich proteins and amino acid structure, gelatin is widely consumed as a supplement. It promotes health and renders critical amino acids for skin, joints, hair, nails, and even gut health. Possible health impacts include more supple and hydrated skin, improved intestinal walls and blood sugar levels, and sturdier joints and bones.

Application Insights

The food and beverage segment dominated the collagen market with a substantial share in 2023. This is due to the rising popularity of collagen dietary supplements, owing to their myriad health advantages, such as moisture retention and enhancement of tissue thickness. However, collagen is being incorporated into food products for human consumption to provide a soft and resilient texture. Moreover, collagen is marketed as a food functional-rich product, which improves the texture of sausage and meat products. Coagulated heat moisture-treated collagen fiber serves as a natural emulsifying agent in acidic food and beverages. Various companies produce collagen soy, collagen cappuccino, collagen cocoa, and collagen juice, thus boosting the segment.

  • In July 2024, Bizzi introduced the UK’s first collagen infusion, combining Arabica Coffee and matcha with premium collagen enriched with Vitamin C and Zinc for a smooth, flavorful experience.

Collagen Market Dynamics

Driver

Increased application in the medical sector

In contemporary medicine, collagen-containing scaffolds have vast applications in cartilage and bone repair, vascular and cardiovascular reconstruction, tissue grafts, and sutures. They find applications in Cardiology, Ophthalmology, Surgery, Dermatology, Orthopedics, Urology, and Vascular fields. Collagen dressing helps treat wounds or burns and surgical sutures. Tissue scaffolds made of collagen are used in pediatric situations to correct congenital malformations, avoid grafts, treat troubled urogenital systems, and treat the anterior segment of the eye with corneal perforation and bone grafting.

  • In July 2024, MiMedx Group introduced HELIOGEN Fibrillar Collagen Matrix, a bone graft substitute intended for the management of complex clean wounds in surgical scenarios. HELIOGEN is based on an organic collagen structure which contains Types I and III collagens as found in the native structural connective tissue composition.

Restraint

Side effects associated with collagen supplements

The consumption of collagen supplements may result in certain side effects, including issues in the digestive system, skin reactions, allergies, kidney problems, increased calcium levels in the blood, autoimmune disease, bloating, heartburn sensations, nausea, and diarrhea or constipation. Skin rash or modification in the skin surface may occur. The increase in the risk of kidney stones with the consumption of collagen supplements is likely to hamper the market. Moreover, the risk of polycythaemia is associated with the use of collagen and calcium together.

Opportunity

Novel technology for extraction of collagen

The extraction of collagen from food waste is both economically and ecologically advantageous, dealing with issues related to the efficient use of resources and waste collusion. New extraction systems, including deep eutectic solvent, supercritical fluid extraction, extrusion, and ultrasound-assisted extraction, have proven effective in depleting collagen. These methods are suitable for large-scale production and have better results in resource management and waste minimization.

Recent Developments

  • In July 2024, Liquid Youth, a doctor-formulated brand, is set to launch a line of premium collagen peptide beverages and powders, aiming to revolutionize the collagen market with effective doses and exceptional taste.
  • In May 2024, Adroit Biomed Ltd. is set to launch Fortisil C, a marine-based high-performance collagen product designed to rejuvenate and restore the skin for a youthful, radiant complexion.
  • In April 2024, Beauty Garage Professional introduced the Beauty Garage Shea Collagen hair filler treatment, designed to eliminate frizz for luxuriously soft, shiny hair.
  • In January 2024, INJA Wellness, a rapidly growing health company, has introduced India’s first pure veg collagen, a clinically proven and FSSAI-approved product based on extensive research.

Related Reports

Collagen Market Players

  • Nippi Inc
  • Koninklijke DSM NV
  • Nitta Gelatin
  • Weishardt
  • GELITA AG
  • Integra LifeSciences Holdings.
  • Vinh Hoan
  • CollPlant
  • Collagen Solutions
  • Lapi Gelatin
  • Getinge AB

Segments covered in the report.

By Source

  • Bovine
  • Marine
  • Porcine
  • Poultry

By Product

  • Gelatin
  • Hydrolyzed collagen
  • Native collagen
  • Synthetic collagen

By Application

  • Food and Beverage
    • Beverage
    • Confectionery
    • Dairy
    • Meat and Fish Products
    • Other Applications
  • Pharmaceuticals
    • Hard Gel Capsules
    • Soft Gel Capsules
    • Microencapsulation
  • Nutraceuticals
    • Sports Nutrition
    • Weight Management
  • Healthcare
    • Wound Dressing
    • Tissue Regeneration
    • Medical Implants
    • Cardiology
    • Research (Cell Culture, Cell Behavior)
    • Drug Delivery
  • Cosmetics
  • Others

By Type

  • Type I
  • Type II
  • Type III
  • Type IV

By Form

  • Powder
  • Liquid
  • Capsule
  • Others

By Product Category

By Function

  • Texture
  • Stabilizer
  • Emulsifier
  • Finding
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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4 10, 2024

Pound Sterling Today: GBP/EUR, GBP/USD Slide on Dovish BoE Bailey Rhetoric

By |2024-10-04T17:59:40+03:00October 4, 2024|Forex News, News|0 Comments

October 4, 2024 – Written by David Woodsmith

The pound dipped sharply in Asian trading on Thursday following a media interview by Bank of England Governor Bailey.

Bailey hinted at a faster rate of interest rate cuts and, in response, the Pound to Euro (GBP/EUR) exchange rate sliding to 1.1905 from just above 1.20.

The Euro-Zone PMI services-sector business confidence index was revised higher to 51.4 from the flash reading of 50.5 which also had some positive Euro impact.

Stronger expectations of an ECB rate cut this month should, however, offer significant Pound protection.

In a wide-ranging interview, Bank of England Governor Bailey expressed concerns over developments in the Middle East and the risk of a spike in oil prices.

Bailey said he was encouraged by the fact that cost of living pressures had not been as persistent as the Bank thought they might be. He said if the news on inflation continued to be good there was a chance of the Bank becoming more “a bit more activist” in its approach to cutting interest rates, now at 5.0%.

Markets have fully priced in a November rate cut and expect rates to decline to 3.75% by the middle of next year.

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MUFG commented; We altered our view on the BoE to assume back-to-back rate cuts before year-end given our view that the economy was now showing clearer evidence of decelerating economic growth.”

The bank quoted recent evidence on the economy; “Sentiment indicators are now turning lower – the GfK consumer confidence index, the PMIs, the CBI Orders index, the Lloyds Business Barometer have turned lower pointing to weaker growth and the potential for a further softening in underlying inflation.”

MUFG also considered the global outlook; “With the Fed and ECB also likely cutting at back-to-back meetings before year-end the damage for the pound should not be considerable. Still, long GBP has been a popular and fruitful trade this year and there is a risk of a downside correction especially if financial market volatility was to pick-up on increased risk aversion.”

On Wednesday, ECB council member Schnabel commented that a “Return to 2% target in a timely manner is becoming more and more likely despite elevated services inflation and strong wage growth.”

She added that; “Signs of softening labor demand and progress in disinflation suggest inflation could sustainably fall back to the 2% target.”

She did note that elevated services inflation and strong wage growth persist, but added; “We cannot ignore the headwinds to growth.”

According to ING; “This could be a sign that the hawks are throwing the towel on the October debate, and will accept another cut after the lower-than-expected CPI figures earlier this week.

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4 10, 2024

Gold (XAU) Daily Forecast: Technical Levels to Watch as Gold Awaits NFP Breakout

By |2024-10-04T17:34:18+03:00October 4, 2024|Forex News, News|0 Comments


“Traders are looking for a clearer direction, and all eyes are on the upcoming US employment report, which could serve as the next major catalyst for gold prices,” stated Mark Ashford, senior market analyst at Global Commodities. “The dollar’s strength has been a major headwind for gold.”

US Dollar Rises on Strong Labor Market Data

The US dollar has been gaining ground, nearing a one-month high, as recent economic indicators paint a picture of a stable labor market. According to the US Department of Labor, unemployment claims rose slightly to 225,000 for the week ending September 28, up from 218,000 in the prior week.

Meanwhile, private-sector employment saw an unexpected increase in job openings for August, reinforcing the strength of the US labor market.

Additionally, the Institute for Supply Management (ISM) reported that its Non-Manufacturing PMI rose to 54.9 in September, its highest reading since February 2023.

The robust labor market data has tempered expectations for significant Fed rate cuts, further supporting the US dollar and creating headwinds for non-yielding assets like gold.

Geopolitical Tensions Provide Limited Support for Gold Prices

While gold’s safe-haven appeal is being reinforced by the uncertain geopolitical landscape, this has not yet been enough to push prices higher. Hezbollah’s recent launch of 230 projectiles from Lebanon into Israel and retaliatory Israeli airstrikes have heightened the risk of a broader regional conflict.



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4 10, 2024

Enhancing Cardiovascular Health in Dietary Supplements to Propel Your Products to New Heights

By |2024-10-04T16:44:50+03:00October 4, 2024|Dietary Supplements News, News|0 Comments


ANKASCIN® 568, a breakthrough in red yeast rice technology without Monacolin K, is clinically proven and supported by 130 SCI publications. It contains RYR natural pigment Monascin and Ankaflavin, enhancing metabolic health more effectively than MK. Honored with five NutraIngredient Awards and FDA NDI approval, Sunway supplies premium ingredients and tailored health solutions.

Register Free: https://www.nutritionaloutlook.com/no_w/unlocking-potential

Event Overview:

Red Yeast rice has been widely used for its cholesterol-lowering properties, attributed to monacolin K (MK) for years, but increasing evidence of MK’s side effects is drawing concern. The US FDA has classified red yeast rice products containing more than trace amounts of MK as unapproved new drugs, prohibiting their sale as dietary supplements in the US. EU regulations from 2022 also restrict MK content to 3 mg/daily dosage, reduced from the original 10 mg/day. Our ANKASCIN® 568, a breakthrough in RYR, addresses this issue with a unique fermentation technique that eliminates Monacolins while offering natural pigments Monascin and Ankaflavin, proven to enhance cardiovascular and metabolic health.
In the dietary supplement industry, brand companies work to make their products appealing and maintain a stable purchase rate. Product developers and brand managers continually strive to create unique formulas, understand competitor actions, and ensure their products stand out. At SunWay, leveraging over 10 years of experience with Taiwan’s top-selling RYR supplement, we provide insights on effective marketing and formula creation that outperforms competitors.

Following a Penicillium fungi contamination incident at Kobayashi Pharma in Japan, GMP-certified SunWay Biotech showcased its stringent quality controls. Utilizing proprietary sealed auto solid-state fermenters, we rigorously manage environmental conditions and personnel to avoid contamination and reduce risks such as citrinin production. Our meticulous control of moisture, temperature, and air quality, coupled with strict sanitation and comprehensive training, guarantees the highest quality of ANKASCIN® 568 production. Post-incident, immediate third-party testing confirmed our products were free of citrinin, aflatoxins, heavy metals, and other contaminants, ensuring the safety and integrity of our client’s products.

Key Learning Objectives:

  • Discover the clinical evidence and scientific basis of the breakthrough of red yeast rice, ANKASCIN® 568, a fermented botanical ingredient that enhances metabolic health and supports healthy aging.
  • Understand ANKASCIN® 568’s regulatory approval as an FDA-recognized New Dietary Ingredient (NDI), it also complied with the Europe Regulatory Status.
  • Learn how to boost your product’s market appeal by integrating ANKASCIN® 568 with omega-3 fatty acids, curcumin, berberine, magnesium, Garcinia, and vitamin D

Who Should Attend:

  • Product Developers/Formulators
  • Brand Managers
  • Distributors
  • R&D
  • Marketing Professionals

Speakers:

Dr. Ya-Wen Hsu
R&D Manager
Sunway Biotech Co

Dr. Ya-Wen Hsu serves as the R&D manager at SunWay Biotech Company, where she focuses on microbial fermentation, as well as the isolation, purification, and structural analysis of natural active ingredients. With over ten years of experience in developing red yeast rice nutritional raw materials, she has been instrumental in advancing process development, efficacy certification, and contributing to the formulation of red yeast rice standards for the United States Pharmacopoeia.

Kerry Wu
Senior Marketing Specialist
Sunway Biotech Co.

Kerry Wu is the Senior Marketing Specialist at SunWay Biotech, armed with a Master’s degree in Basic Medical Science and a decade of experience in B2B marketing for the nutrition and health industries. She expertly blends scientific knowledge with content marketing on an international scale. Passionate about nutrition and research, Kerry not only excels in data analysis but also possesses precise market insights, enabling her to craft compelling stories that engage and resonate with global audiences.

Register Free: https://www.nutritionaloutlook.com/no_w/unlocking-potential



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