Category: U.S
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Week Ahead in FX (July 1 – 5): U.S. Inflation Updates, RBNZ’s Decision, And U.K.’s GDP On Tap
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Markets are heading into a relatively quiet trading week with only a few major events expected on the agenda. But that doesn’t mean major assets won’t see increased volatility! Uncle Sam dropped June inflation figures which could impact Fed rate cut talks. The Reserve Bank of New Zealand will also…
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Are U.S. Treasury markets anticipating Trump 2.0? Yardeni Research weighs in By Investing.com
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Investing.com – The move higher in U.S. Treasury yields following last week’s debate between President Joe Biden and Republican challenger Donald Trump could be a sign that the bond market is pricing in a Trump victory in November’s presidential election, according to analysts at Yardeni Research. On Monday, the benchmark…
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U.S. Coast Guard says hurricane may shut oil ports By Reuters
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By Erwin Seba HOUSTON (Reuters) – The U.S. Coast Guard warned on Monday that ports from Corpus Christi to Houston, Texas, could be closed due to Hurricane Beryl, which is expected to make landfall by Monday morning south of Port Lavaca. Closing the ports could temporarily halt shipments of crude…
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Crude oil scores fourth straight weekly gain as U.S. data indicates solid demand
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SlavkoSereda/iStock via Getty Images Crude oil futures fell on the day while recording a fourth straight weekly gain, supported by a much larger-than-expected drawdown in U.S. crude inventories, renewed hopes that the U.S. Federal Reserve will start cutting interest rates soon, and rising geopolitical risks in the United States. The…
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Weak U.S. Jobs Reports Extended The Dollar’s Losses On Wednesday
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The United States released a batch of economic data on Wednesday that could give markets clues to the outcome of Friday’s U.S. nonfarm payrolls report: the Challenger Report The data showed that U.S. employers announced 48,786 job cuts in June, down 23.6% from May but still 19.8% higher than June…
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U.S. oil price climbs to highest since mid-April on sharp draw in inventories
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SlavkoSereda/iStock via Getty Images Crude oil futures rose on Wednesday after a larger-than-expected drawdown in U.S. inventories, in thin trading ahead of the U.S. Independence Day holiday. The weekly report from the US Energy Information Administration showed broad-based declines in crude and refined product inventories, with crude inventories falling Crude…
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U.S. ISM Manufacturing PMI Contracted At A Faster Pace In June
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Data released by the Institute for Supply Management showed that the US manufacturing sector recorded a contractionary reading of 48.5 points for the month of June. This is lower than the expected reading of 49.2 points and the index number in May of 48.7 points! In fact, the June PMI…
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U.S. judge halts Biden administration pause on LNG export licenses (NYSE:LNG)
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lyash01/iStock via Getty Images A U.S. district judge issued a ruling Monday. blocked US President Donald Trump has issued an order banning the Biden administration from approving LNG export applications, and ordered the LNG export ban to be lifted “in full, effective today.” A coalition of 16 Republican-led states, including…
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U.S. Final Q1 GDP, Durable Goods Orders, And Initial Jobless Claims Reports Showed Weaknesses
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The final reading for Uncle Sam’s growth in the first quarter of 2024 came in at 1.4%, higher than the second estimate of 1.3% but still below the advanced reading of 1.6%. Data from the Bureau of Economic Analysis indicate that weakness in primary metals (for durable goods manufacturing) and…
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U.S. Final Q1 GDP, Durable Goods Orders, And Initial Jobless Claims Reports Showed Weaknesses
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The final reading for Uncle Sam’s growth in the first quarter of 2024 came in at 1.4%, higher than the second estimate of 1.3% but still below the advanced reading of 1.6%. Data from the Bureau of Economic Analysis indicate that weakness in primary metals (for durable goods manufacturing) and…
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U.S. moves $240m Silk Road Bitcoin to Coinbase
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Bitcoin fell 2% after the US government transferred 3,940 bitcoins seized from a Silk Road vendor. Bitcoin (BTC) has come under selling pressure after the US government transferred $240 million worth of cryptocurrencies to a Coinbase Prime address. Arkham Intelligence said the 3,940 BTC sent to Coinbase were originally seized…
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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…
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Top U.S. regulators find shortcomings in living wills of JPMorgan, BofA, Goldman, Citi
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Editorial LewisTsePuiLung/iStock via Getty Images The Federal Reserve and the Federal Deposit Insurance Corp. said Friday they had identified deficiencies in JPMorgan Chase’s so-called living will plans (New York Stock Exchange: JPM), Goldman Sachs (New York Stock Exchange: A), American bank (New York Stock Exchange: PAC(Citigroup)New York Stock Exchange: CAccording…
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Nearly half of Dell’s full-time workforce in the U.S. has rejected returning to the office. They’d rather work from home than get promoted
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Even months after the technology company Dale The company has pushed its strict return-to-office policy that bars completely remote employees from promotions, and its workers still refuse to return to in-person work. Nearly 50% of Dell’s full-time U.S. workforce and a third of international employees have continued to work remotely,…
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U.S. finds no currency manipulation in 2023, Japan added to monitoring list By Reuters
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WASHINGTON (Reuters) – The U.S. Treasury Department said on Thursday that no major trading partner appeared to have been manipulating its currency in the past year, but added Japan to a foreign exchange “watch list,” along with China, Vietnam, Taiwan, Malaysia, Singapore and Germany, which were on the previous list.…
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Topcon Receives Recertification as Great Place to Work for U.S., Adds Spain, Netherlands By Investing.com
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LIVERMORE, Calif.–(BUSINESS WIRE)–Topcon Positioning Systems has announced it has been re-certified as a Great Place to Work® in the United States and has added this award to its locations in Spain and the Netherlands. The award is based entirely on what current employees say about their experience working at the…
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EV startup Fisker’s U.S. units file for bankruptcy By Reuters
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(Reuters) – Electric vehicle startup Fisker, which filed for Chapter 11 protection earlier this week, said its U.S. units also filed for bankruptcy in a Delaware court on Wednesday. Fisker Inc (OTC:) and its other US subsidiaries said they have entered Chapter 11, adding that discussions about selling assets are…
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U.S. East Coast port union strike threat to test shippers’ nerves By Reuters
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(Reuters) – Labor talks at U.S. ports on the East Coast and Gulf of Mexico represent a looming danger for retailers, manufacturers and other shippers already struggling with longer transit times and higher costs. The International Longshoremen’s Association’s contract, which covers 45,000 workers at thirty ports from Maine to Texas,…
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Natural gas surges as weather forecasts see sizzling temps across U.S. (NYSEARCA:UNG)
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Straja/iStock via Getty Images U.S. natural gas futures jumped above $3 to their highest levels in five months on Tuesday, as weather forecasts called for above-average temperatures in much of the country. Forecast from the National Weather Service Much of the country showed hotter than normal temperatures The United States…
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U.S. natural gas pulls back after failing to hold above $3 (NYSEARCA:UNG)
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Straja/iStock via Getty Images US natural gas futures rose above $3 for the first time since November before retreating in another choppy session on Monday, failing to sustain initial strong gains on the prospect of increased demand from hot weather that could further exacerbate the problem. Reduce surplus storage in…