Category: Markets
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RBNZ Delivers a Hawkish Hold with Rate Hike Talks and Higher Inflation Projections
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As expected, the Reserve Bank of New Zealand The Reserve Bank of New Zealand (RBNZ) kept its policy rate at 5.50% for the eighth straight meeting in May. What traders did not expect was for the central bank to share this.”The committee discussed the possibility of increasing OCR at this…
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The UK CPI report today will be one of the more closely watched ones
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This is one of them, if not debatable the The report is key to settling this debate. Because the next UK CPI report for May will come just one day before the June monetary policy decision. So, what does the backend look like as we head towards the major release…
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Boeing Starliner’s helium leak adds another delay to debut crew flight By Reuters
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(Reuters) – NASA said in a statement that it has again postponed Boeing Co’s (NYSE:) first crewed flight of its Starliner capsule on Tuesday so that engineers can spend more time assessing a helium leak in the spacecraft’s propulsion system. The launch, which was scheduled for May 25, has now…
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BofA notes broad USD sell-off on positive US data By Investing.com
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Bank of America reported that investors sold the US dollar broadly last week, influenced by slightly positive economic indicators from the United States. The move came in response to somewhat encouraging US inflation data and lower-than-expected retail sales numbers. According to Bank of America, the US dollar sell-off has been…
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Singapore Airlines flight hits severe turbulence, one passenger dead, dozens injured By Reuters
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Written by Chayut Situboonsarng and Pano Wongcha Om BANGKOK (Reuters) – One passenger died of a suspected heart attack and 30 others were injured after a Singapore Airlines plane ran into severe turbulence on Tuesday, flinging passengers and crew around the cabin and forcing the plane to land in Bangkok.…
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UK Payment Regulator Faults Visa and Mastercard for Fee Hikes
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The UK’s payments regulator has raised concerns about sharp increases in fees charged by Visa and MasterCard to retailers, highlighting a lack of competitiveness in the payment card market, Reuters reported. Despite the significant increase in fees, there is little evidence that these costs have led to improved services. Consequently,…
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UK Payment Regulator Faults Visa and Mastercard for Fee Hikes
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The UK’s payments regulator has raised concerns about sharp increases in fees charged by Visa and MasterCard to retailers, highlighting a lack of competitiveness in the payment card market, Reuters reported. Despite the significant increase in fees, there is little evidence that these costs have led to improved services. Consequently,…
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EUR/USD rally expected to persist, says BofA By Investing.com
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Bank of America (BofA) analysts provided insights into currency market trends, pointing to a significant rally in the pair last week. This increase is due to the weak US CPI report. Bank of America signals indicate that the uptrend for the EUR/USD is likely to continue. The bank’s analysis pointed…
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US FDIC needs ‘fresh start’ with new chair, White House official says By Reuters
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Written by Nandita Bose, Pete Schroeder, and Douglas Jellison WASHINGTON (Reuters) – The White House believes the U.S. Federal Deposit Insurance Corporation needs a “fresh start” with a new president who is not part of the leadership that has overseen its long-standing cultural problems, a White House official told Reuters…
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Saxo Bank Merges Sales and SXO Units, Names New Chief Commercial Officer
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Saxo Bank has restructured its operations by merging Global Sales and SXO into a new entity called Group Commercial. This measure aims to simplify operations and enhance operations. The online trading and investment specialist has promised a more cohesive and effective approach to servicing its clients. Improving mutual cooperation According…
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US dollar dips vs yen after Fed’s Waller rules out rate hikes again By Reuters
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By Gertrude Chavez-Dreyfus and Stefano Ribaudo NEW YORK/MILAN (Reuters) – The U.S. dollar fell against the yen on Tuesday in a volatile session after Federal Reserve Governor Christopher Waller reiterated that raising interest rates is unlikely at this stage because inflation appears to be on track to meet the central…
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European major indices close lower on the day
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London/ European traders return home as their major indices decline: German DAX -0.22% France CAC, -0.67% UK FTSE 100 Index is down -0.09% Spanish Ibex -0.04% Italian FTSE MIB, -0.64% Meanwhile, in US markets, major indices rose slightly: The Dow Jones Industrial Average rose 18.40 points, or 0.05%, to 39,824.35…
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Disney’s Pixar Animation to lay off about 14% of workforce By Reuters
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By Don Chmielewski (Reuters) – Pixar Animation Studios, which produced classic films such as Toy Story and Up, began laying off about 14% of its workforce on Tuesday as development of the original broadcast series is scaled back, according to a source familiar with the development. Approximately 175 people will…
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FMAS:24: “Interoperability Is Key in Creating an Ecosystem of Inclusive Payment Society”
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The Finance Magnates Africa Summit 2024 (FMAS:24) is currently being held in Johannesburg, South Africa, at the Sandton Convention Centre. This much-anticipated event brings together professionals for insightful discussions, networking opportunities and demonstrations of the latest innovations. FMAS:24 opened registration for attendees, who eagerly entered the venue today at 11…
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BofA turns bullish on EUR/CAD amid rate and commodity signals By Investing.com
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Bank of America (BofA) has shifted its stance to a bullish view on EURCAD () for the current week. The bank’s positioning analysis indicates that the immediate upside trend is expected to continue. In addition, Bank of America’s Cross-Asset Risk Analysis System (CARS) model supports a bullish outlook for the…
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Canada April CPI 2.7% versus 2.7% expected
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Previous month 2.9% Consumer Price Index (CPI) monthly: 0.5% vs. 0.6% estimate Basic measures Bank of Canada Core Consumer Price Index (CPI) YoY +1.6% vs. 2.0% previously Bank of Canada Consumer Price Index (CPI) monthly core at 0.2% versus 0.5% previously Core CPI rose monthly YoY by 0.0% versus 0.1%…
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AstraZeneca shares rise as pharma group unveils 2030 revenue target By Investing.com
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Investing.com – UK-listed shares in AstraZeneca (LON:) rose in morning trade on Tuesday after the pharmaceutical giant announced a new revenue target of 2030. In a statement ahead of an investor event touting a “new era of growth,” AstraZeneca said it now expects to achieve total revenues of $80 billion…
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Bybit Crosses 30 Million User Threshold amid Sixfold Volume Jump
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Cryptocurrency exchange Bybit has surpassed 30 million registered users globally. The exchange, one of the largest by spot volume, has increased its customer base by 10 million over the past six months. Bybit exceeds 30 million registered users At the end of November last year, Bybit celebrated its fifth anniversary…
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Positioning points to further S&P 500 upside
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Investing.com – US stock indices are near all-time highs, and Citigroup sees potential for further upside as investor positions turn increasingly bullish, while positive flows in Europe have stalled. The two indices rose to record levels last week, and Citi sees the potential for further gains based on new risk…
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FX Watch: EUR/NZD’s Resistance Area Ahead of RBNZ’s Policy Decision
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EUR/NZD is approaching the technical resistance area! Will the pair continue its downward trend this week? Or will the RBNZ policy decision inspire a bullish breakout for its Kiwi counterpart? While we did not see market catalysts yesterday, commodity-related currencies such as the New Zealand dollar fell against their counterparts…