Category: Markets
-
Manchester United reports Q3 results, lifts 2024 revenue guidance By Investing.com
•
Manchester United (NYSE:) raised its guidance for the full fiscal year 2024 after reporting third-quarter earnings results on Wednesday. The club’s shares were trading slightly lower in pre-market trading. For the full year, the club now expects revenue of £660m, up from a previous forecast range of between £635m and…
-
Exclusive-Bank of Israel waiting for digital euro ahead of digital shekel launch By Reuters
•
By Stephen Sher JERUSALEM (Reuters) – The Bank of Israel remains committed to its plans to issue a digital currency to improve Israel’s payments system and boost innovation, but it is unlikely to launch it before other advanced economies. “We are all waiting for the first Western central bank to…
-
AUDUSD Technical Analysis – The price consolidates after the breakout
•
Basic Overview The US dollar fell broadly last Friday after the release of the weak US non-farm payrolls report. The data showed further slowdown in the labor market with the unemployment rate rising and wage growth declining. Basically we have an economy that is slowing but still growing. We will…
-
Microsoft to relinquish its observer seat on OpenAI board
•
Microsoft (NASDAQ:) has announced that it will give up its observer seat on OpenAI’s board of directors amid growing regulatory scrutiny of generative artificial intelligence in Europe and the United States, according to CNBC. Keith Dolliver, Microsoft’s deputy general counsel, wrote to OpenAI on Tuesday, explaining that while the observer…
-
Fed Head Powell’s Testimony Kept September Cut on the Table As Labor Market Cools
•
Federal Reserve Chairman Jerome Powell was the center of attention in his testimony before the Senate Banking Committee, where he suggested that waiting too long to cut interest rates could risk harming the U.S. labor market. Although he declined to offer any explicit guidance on easing, Powell acknowledged that business…
-
Volkswagen shares down after possible Brussels plant closure, profit warning By Reuters
•
FRANKFURT (Reuters) – Shares of Volkswagen fell 1.5 percent in early Frankfurt trading after Europe’s largest carmaker issued a profit warning late on Tuesday over accusations related to the possible closure of an Audi plant in Brussels. Volkswagen said the costs of finding an alternative use for the Brussels plant…
-
Asia FX flat as dollar steadies on Powell comments; Kiwi sinks on dovish RBNZ By Investing.com
•
Most Asian currencies moved in a flat-to-low range on Wednesday as the dollar found some strength after Federal Reserve Chairman Jerome Powell offered no direct signals on interest rate cuts. The New Zealand dollar was the worst performer of the day after the Reserve Bank of New Zealand struck a…
-
Daily Broad Market Recap – July 9, 2024
•
Traders continued to watch Fed Chair Jerome Powell’s testimony, but did the event move the markets that much? Here’s how asset classes are reacting, plus other economic updates you need to know: headlines: NAB Australia’s business confidence index improved from -2 to +4 in June Japan’s initial machine tool orders…
-
ForexLive Asia-Pacific FX news wrap: RBNZ leans more dovish, NZD drops
•
The two most interesting items during the session here were inflation data from China and the Reserve Bank of New Zealand’s July monetary policy review. The Reserve Bank of New Zealand dropped a dovish bombshell. I explained it at the time (see points above): *** From the Reserve Bank of…
-
Asian stocks tread water amid mixed Chinese, Japanese inflation By Investing.com
•
Investing.com — Most Asian stocks were rangebound on Wednesday as markets digested mixed inflation data from China and Japan, while the focus remained on when the Federal Reserve will start cutting interest rates. Regional stocks received moderate signals from Wall Street, with technology stocks seeing sharp gains and nearing new…
-
New Zealand rate pricing implies 25bp rate cut for October vs. 16 before RBNZ ststament
•
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…
-
China’s Ping An eyes up to $5 billion convertible bond, sources say By Reuters
•
By Scott Murdoch (Reuters) – China’s Ping An Insurance Co Ltd is considering issuing convertible bonds worth up to $5 billion, people familiar with the matter said. One of the sources said the bonds could raise between $2 billion and $5 billion, and the two sources added that an agreement…
-
Japan PPI (June 2024) +0.2% m/m (expected +0.4) and +2.9% y/y (expected +2.9%)
•
Inflation rates are still rising strongly at the wholesale level. The USD/JPY currency pair was little changed around the 161.36 level. — The Producer Price Index (PPI) in Japan is also known as the Corporate Goods Price Index (CGPI). It is a measure of the average change over time in…
-
Blackstone taps Citi veteran Tyler Dickson for a key role in credit business By Reuters
•
(Reuters) – Private equity firm Blackstone said on Tuesday it has hired Tyler Dixon, the former global head of investment banking at Citigroup, to lead client relationships for its credit and insurance unit. The new role will oversee the Institutional Client Solutions team at Blackstone Credit & Insurance (BXCI), and…
-
Daily FX Market Review: JPow Reports Inflation Progress, Eyes Future Rate Cuts
•
Federal Reserve Chairman Jerome Powell (“JP Powell”) Mr. Trump began two days of testimony in both chambers of Congress: the Senate Banking, Housing and Urban Affairs Committee today and the House Financial Services Committee tomorrow. In the United States, the Chairman of the Federal Reserve must report to Congress twice…
-
Forexlive Americas FX news wrap 9 Jul: Powell’s testimony keeps easing door open for Sept.
•
Federal Reserve Chairman Powell testified before the U.S. Senate today on Capitol Hill in the first of two testimony before U.S. lawmakers. The Fed chairman will speak before the House of Representatives tomorrow. During his testimony today, the Fed chairman explicitly said he would not talk about changing the interest…
-
Deja-vu? In Olympics push, France ramps up war on fakes By Reuters
•
By Helen Reid, Lily Forodi, and Mimosa Spencer PARIS (Reuters) – At the tourist flea market in Saint-Ouen, not far from the Stade de France where athletes will compete at this summer’s Paris Olympics, police stormed in at dawn on April 3 and closed 11 shops selling counterfeit bags and…
-
BofA: A brief and recent history of US FX policy
•
In the post-Bretton Woods era, US interventions in foreign exchange markets have become rare in the twenty-first century. Under the influence of the Plaza and Louvre Accords, US foreign exchange policy evolved under the “strong dollar” stance adopted by Treasury Secretary Robert Rubin in the 1990s. Interventions have been limited…
-
US stocks mostly higher; tech sector gains ahead of Powell’s testimony By Investing.com
•
U.S. stocks rose slightly on Tuesday as growing expectations of a September interest rate cut kept the technology sector strong ahead of testimony from Federal Reserve Chairman Jerome Powell. The Nasdaq Composite Index was down 40 points, or 0.1%, at 09:35 ET (13:35 GMT), while the Dow Jones Industrial Average…
-
US stocks mostly higher; tech sector gains ahead of Powell’s testimony By Investing.com
•
U.S. stocks rose slightly on Tuesday as growing expectations of a September interest rate cut kept the technology sector strong ahead of testimony from Federal Reserve Chairman Jerome Powell. The Nasdaq Composite Index was down 40 points, or 0.1%, at 09:35 ET (13:35 GMT), while the Dow Jones Industrial Average…