Category: Markets
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TA of the Day: Will Copper’s Support Hold and Ignite a Major Rally?
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copper Oil prices fell sharply, falling to their lowest level in four months on concerns about slowing Chinese demand and rising production. China is the world’s largest consumer of copper, using it extensively in construction, manufacturing, electronics and energy sectors. Because of this, the amount of copper China needs has…
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Bank of America says oil’s Bermuda triangle is nearing an end
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Oil prices rose in the hours following yesterday’s news: Assassination of Hamas leader Ismail Haniyeh in Tehran Hamas says assassination of Ismail Haniyeh is dangerous escalation All eyes are on the Middle East following this news, and oil prices have risen. In a separate report, Bank of America says: “Oil…
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Japan spent $36.8 billion in July intervention, official data shows By Reuters
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By Kevin Buckland TOKYO (Reuters) – Japanese authorities spent 5.53 trillion yen ($36.8 billion) intervening in the foreign exchange market this month to lift the yen from a 38-year low, official data showed on Wednesday. The Finance Ministry figures confirmed the doubts of traders and analysts following the sharp rise…
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Daily Broad Market Recap – July 30, 2024
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Risk aversion was the name of the game on Tuesday, as caution ahead of this week’s major market events mixed with weaker U.S. technology stocks and rising geopolitical tensions in the Middle East. How have major assets behaved in recent trading sessions? We share the details: headlines: Australia Building Approvals…
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Stocks Rally as Nvidia Up 11% After Bullish Call: Markets Wrap
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(Bloomberg) — Stocks staged a strong rebound amid a rally in shares of struggling chipmakers, as the latest economic data bolstered bets that the Federal Reserve will signal an interest-rate cut in September. Most Read from Bloomberg After a selloff that put the Nasdaq 100 on the brink of a…
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Oil slingshots more than $3 higher on Middle East angst
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Risk assets and commodities in general are doing well today, and that’s part of crude oil’s $3 gain today, but that’s not the whole story. West Texas Intermediate crude rose 3.9% to $77.64 in its best day in six weeks. What drives her? Israel’s assassination of the political leader of…
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T-Mobile lifts subscriber addition target on demand for premium bundled plans By Reuters
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By Harshita Mary Varghese (Reuters) – T-Mobile Inc raised its full-year forecast for monthly billable phone subscribers after seeing more customers than expected in the second quarter on strong demand for its discounted unlimited plans that include streaming features. The company’s shares were up 3.6% at midday Wednesday. U.S. wireless…
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Column-Asian FX at crossroads as yen, yuan diverge: McGeever By Reuters
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By Jamie McGeever ORLANDO, Fla. (Reuters) – Japanese and Chinese monetary policies are diverging, meaning other Asian currencies may now be at a crossroads, too. But are currencies like the South Korean won, Indian rupee and Indonesian rupiah affected by a stronger yen, supported by expectations of tighter monetary policy…
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BOJ Unexpectedly Hiked Rates by 0.15% While Unanimously Voting to Taper Bond Purchases
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The Bank of Japan surprised markets when it announced its decision to raise interest rates by 0.15% from The post BOJ Unexpectedly Hiked Rates by 0.15% While Unanimously Voting to Taper Bond Purchases first appeared on Investorempires.com.
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Canada May GDP MoM 0.2% vs 0.1% estimate
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Previous month 0.3% May GDP 0.2% vs. 0.1% estimate. Advanced GDP released with April report was 0.1% GDP rose 0.1% in June. Construction, real estate, leasing, finance and insurance sectors also rose, while manufacturing and wholesale trade declined. Service-producing industries 0.1% Good productive industries 0.4% A total of 15 out…
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Marriott cuts 2024 sales view on China drag, slower North American demand By Reuters
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(Reuters) – Hotel operator Marriott International Inc (NASDAQ:MRX) lowered its 2024 room revenue growth forecast on Wednesday, citing a weaker operating environment in China and expectations of weaker demand in North America. The company’s shares fell 4.7% before the bell. Marriott expects its revenue per available room (RevPAR), an important…
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Dollar slips ahead of Fed decision; yen soars after BOJ hike By Investing.com
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Investing.com – The U.S. dollar fell on Wednesday ahead of the conclusion of the Federal Reserve’s latest interest rate-setting meeting, while the Japanese yen rose after the Bank of Japan tightened monetary policy. At 05:20 ET (09:20 GMT), the dollar index, which tracks the greenback against a basket of six…
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GBPUSD Technical Analysis – A look at the chart ahead of the BoE decision
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Basic Overview The US dollar has been steadily rising against most major currencies over the past two weeks, although the catalyst behind the move has been unclear. A good argument has been that most of the moves we have seen have been driven by debt relief as a result of…
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Starbucks reports in-line Q3 earnings as sales miss on China weakness; shares up By Investing.com
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Investing.com – Starbucks Corp reported mixed third-quarter results on Tuesday, with earnings matching Wall Street estimates while revenue fell short of expectations due to weak sales in China. Shares of Starbucks Inc. (NASDAQ:) rose more than 2% in premarket trading on Wednesday. Starbucks earned $0.93 on revenue of $9.1 billion.…
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Yen choppy after BOJ hikes, Aussie struggles as RBA cuts eyed By Reuters
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Written by Ray Wee SINGAPORE (Reuters) – The yen swung between gains and losses on Wednesday after the Bank of Japan raised interest rates at the end of its two-day policy meeting and unveiled a detailed plan to scale back its massive bond-buying programme. The yen rose about 0.8% to…
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BOJ governor Ueda: Some market participants expressed concerns about outlook
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Toyota to post rise in Q1 profit on hybrid demand, but momentum may be slowing By Reuters
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By Daniel Leussink TOKYO (Reuters) – Demand for hybrid vehicles is likely to drive another quarter of double-digit growth for Japan’s economy. Toyota Motor Co. (NYSE:) is expected to report a net profit when it reports earnings on Thursday, although it is expected to show signs of slowing after a…
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Asia FX firms with Fed on tap; Japanese yen volatile after BOJ By Investing.com
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Most Asian currencies rose on Wednesday ahead of further signals on interest rate cuts from the Federal Reserve, while the Japanese yen was volatile after mixed signals from the Bank of Japan. The Australian dollar was an exception among its regional peers, with the currency sliding to a three-month low…
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Cooler Core Inflation In Australia Reduced RBA Rate Hike Odds
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Australian Bureau of Statistics data showed that inflation in Australia maintained its quarterly growth of 1.0% in the second quarter of 2024, which was driven by price increases in food, clothing, alcohol and tobacco products. On an annual basis, the pace of price increases accelerated from 3.6% to 3.8% in…