Category: Markets
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South African rand weakens, focus on cabinet announcement By Reuters
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JOHANNESBURG (Reuters) – The South African rand fell in early trade on Monday, as markets awaited the announcement of President Cyril Ramaphosa’s government after the African National Congress lost its parliamentary majority in last month’s elections, the first time in 30 years. At 0556 GMT, the rand was trading at…
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USD/JPY in the spotlight as yen-tervention is in focus
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USD/JPY daily chart This may be a quieter start to the new week, but this is the week to watch as events can speed up. After the intervention in late April, the spotlight is now back on Japanese officials. Will they intervene at 160.00 again? Or will they lower the…
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UBS neutral on EM stocks, but likes tech By Investing.com
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Investing.com — UBS said it was largely neutral on broader emerging market stocks amid heightened political volatility and limited upside potential from higher U.S. interest rates. But the brokerage firm said it prefers technology stocks in emerging markets, noting that the sector has largely outperformed its counterparts in emerging markets…
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Asia FX weak amid dollar strength; yen on intervention watch By Investing.com
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Investing.com — Asian currencies were mostly fragile on Monday, with the dollar holding near two-month highs, while a weak Japanese yen sparked caution about potential intervention measures by Tokyo. Sentiment towards regional markets also declined due to fears of a trade war between China and the European Union, after Chinese…
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Week Ahead in FX (June 24 – 28): The Fed’s Preferred Inflation Measure & Global Inflation Updates
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Traders await a relatively less busy economic calendar with inflation updates from Japan, Canada and Australia taking the spotlight. Meanwhile, the US core PCE price index, the final GDP reading, and speeches from several FOMC members could encourage volatility between major dollar pairs. Before all that, ICYMI, I wrote a…
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Interest rate expectations for the Fed after Friday’s Flash PMI data
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Despite a strong US Purchasing Managers’ Index (PMI) release on Friday, the Fed’s money market bets were little changed. Federal interest rate forecasts Expectations in the data were for a decline of about 47 basis points by the end of the year, and expectations remained very close to that despite…
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Stock Markets Tapping New Highs Last Week but BTC and ETH Suffer
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The cryptocurrency industry is often described as a high-risk asset class that tends to perform poorly during times of economic uncertainty. Although the stock market also falls into this category, at least to some extent, it has been on a wild run the past few weeks, with multiple new all-time…
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Asian Stocks Falter as Japan Warns on Yen Moves: Markets Wrap
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Breadcrumb links BMN Business Asian stocks fell, kicking off a week of inflation measures that will help guide bets on the global interest rate outlook. The yen stabilized after Japan’s top currency official stepped up the interventionist tone. Article writer: Bloomberg News Catherine Bosley and Matthew Burgess Posted on June…
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Asia shares subdued as inflation, politics loom large By Reuters
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By Wayne Cole SYDNEY (Reuters) – Asian shares fell on Monday as the countdown to U.S. price data investors hope will show a renewed moderation in inflation, while markets were on alert for possible Japanese intervention with the dollar testing the 160 yen barrier. Geopolitics was also looming, with the…
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Japanese yen fragile, USDJPY nears 160 amid intervention talk By Investing.com
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Investing.com — The Japanese yen was fragile on Monday, with the USD/JPY pair approaching key intervention levels even as government officials repeated warnings that they would intervene to support the currency. The pair, which measures the number of yen needed to buy one dollar, rose slightly on Monday to 159.93…
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What to expect from the BoJ summary of opinions this morning
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The report should give us a better understanding of what board members were thinking. In June, the Bank of Japan decided to keep the short-term interest rate steady at 0.0%-0.1%, which was expected. But they were shocked when they did not begin to gradually reduce their bond purchases as some…
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Exclusive-US prosecutors recommend DOJ criminally charge Boeing as deadline looms By Reuters
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Written by Chris Prentice, Mike Spector, and Allison Lambert WASHINGTON (Reuters) – U.S. prosecutors have recommended top Justice Department officials file criminal charges against Boeing Co (NYSE:) after it emerged that the planemaker violated a settlement related to two fatal accidents, two people familiar with the matter told Reuters. The…
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Novo’s Wegovy induces higher weight loss in women than men with same heart condition, study shows By Reuters
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Written by Jakob Gronholt Pedersen and Bhanvi Satya COPENHAGEN (Reuters) – An analysis of data from a study published in a medical journal showed that Novo Nordisk Inc’s (NYSE) popular obesity drug WiGovi helped women with common heart diseases lose more weight than men with the same condition. The trials…
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Premium Forex Watch Recaps: June 17 – 18, 2024
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Our Forex strategists discussed the settings regarding the monetary policy statement from the Reserve Bank of Australia, and the latest inflation updates from the UK. Of the four scenario/price forecast discussions this week, Only one discussion saw both financial and technical arguments raised To become a potential candidate for a…
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Prudential plans $2 billion share buyback By Reuters
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(Reuters) – Insurance group Prudential said in a statement on Sunday that it is planning a $2 billion share buyback program that will be completed no later than mid-2026. The life and health insurance company said in a separate statement that it will initiate the first $700 million tranche of…
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Palantir downgraded, Micron PT hiked ahead of earnings By Investing.com
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Investing.com – Here are the biggest artificial intelligence (AI) analyst moves this week. InvestingPro subscribers always get the first feedback from market-moving AI analysts. Upgrade today! Truist says Microsoft is “the best way to power AI in our coverage.” Microsoft (NASDAQ:) remains “the best way to operationalize AI in our…
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Nvidia to launch in Middle East amid U.S. curbs on AI exports to region, Ooredoo CEO says By Reuters
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Written by Andrew Mills DOHA (Reuters) – Nvidia (NASDAQ:) has signed an agreement to deploy its artificial intelligence technology in data centers owned by Qatari telecommunications group Ooredoo in five countries in the Middle East, Ooredoo’s CEO told Reuters. The agreement represents Nvidia’s first large-scale launch in the region, to…