Author: FX
By Howard Schneider AMELIA ISLAND, Florida (Reuters) – U.S. inflation data through the first months of 2024 has been “disappointing,” Fed vice chair for supervision Michael Barr said on Monday, leaving the central bank short of the evidence it needs to ease monetary policy. “Inflation readings in the first quarter of this year were disappointing. These results did not provide me with the increased confidence that I was hoping to find to support easing monetary policy,” Barr said in remarks prepared for delivery at an Atlanta Federal Reserve conference on financial markets. His prepared speech also delved into the financial…
One of the first questions beginner traders ask is what currency pair to trade. Unfortunately, there’s lots of misinformation around and most of the time the advice they get is to trade the most volatile pairs because they can make more money.That’s of course incorrect because the more volatile a pair is, the bigger your stop loss should be to avoid being stopped out prematurely. In fact, professional traders adapt their stop losses based on the volatility of the instrument. They don’t have a fixed stop loss for everything. The real answer lies in the fundamentals. If you expect a…
The Pound Sterling holds strength near 1.2700 as investors turn risk-averse on firm Fed rate-cut hopes. April’s UK headline inflation is expected to return to near 2%. This week, investors will focus on the UK inflation for April and the FOMC minutes. The Pound Sterling (GBP) trades close to an almost two-month high around 1.2700 in Monday’s European session. The GBP/USD pair strengthens as the US Dollar (USD) is on the back foot as financial markets remain confident that the Federal Reserve (Fed) will start lowering interest rates from the September meeting. Investor confidence in Fed rate cuts has strengthened…
Virios Therapeutics shares slid on pricing public offering of units to raise $1.7M Source link
YONGIN, South Korea, May 20, 2024 /PRNewswire/ — GC Biopharma (006280. KS) and Novel Pharma announced that its jointly developed MPS IIIA ‘GC1130A’ treatment has received FDA IND approval. With this approval, development of ‘GC1130A’ is expected to accelerate with multinational clinical trials commencing this year. Clinical trial sites have been set up in the US, Korea and Japan, and focus of the trial will center around proving the drug’s safety and tolerability.GC Biopharma and Novel Pharma have been co-developing ICV ERT (intracerebral ventricular enzyme replacement therapy) for MPS IIIA to address the lack of Heparan N Sulfatase expression in…
In case you missed our latest FX Weekly Recap, Uncle Sam’s slightly weaker economic data got traders pricing in no interest rate hikes or even interest rate cuts from the Fed. Luckily for USD bulls, Fed members also came out and hinted at a “higher for longer” interest rate environment which helped limit USD’s losses. The British pound, on the other hand, came in second to the New Zealand dollar in overall strength as GBP bulls took advantage of the overall risk-friendly and anti-USD environment. And that’s after Bank of England (BOE) Chief Economist Huw Pill suggested that…
I don’t know if you’ve noticed but EUR/GBP has been giving us lower highs and lower lows since last week after hitting a resistance near .8620. Will the pair extend its downtrend this week? Or will the U.K. CPI report provide the catalyst for a short-term reversal for the pair? This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
The holiday is in observance of Whit Monday, so most major players in Europe will be out. London will be open though, so there is still that at least. But even with major markets in the region being open, liquidity should be thinned out in the session ahead. France, Germany, and Switzerland are all enjoying the long weekend.As such, there won’t be any major data releases in the session ahead. That will make for a quieter period in European morning trade to start the new week. Source link
The Australian Dollar appreciates due to improved risk appetite on Monday. The Australian Dollar may struggle as Australia’s 10-year bond has dropped to its monthly lows. The US Dollar faces a challegne as US Treasury yields inch lower. The Australian Dollar (AUD) extends gains for the second consecutive session on Monday. The weaker US Dollar (USD) supports to underpin the AUS/USD pair. However, the Aussie Dollar trims gains after the interest rate decision from China. The People’s Bank of China (PBOC) kept the one-year and five-year Loan Prime Rates (LPR) steady at 3.45% and 3.95%, respectively. The Australian Dollar may face…
ricochet64/iStock Editorial via Getty Images Activist Elliott Investment Management has accumulated a more than $1 billion stake in industrial company Johnson Controls Inc. (NYSE:JCI) It wasn’t immediately clear what Elliott’s intentions are for Johnson Controls (JCI), according to a Bloomberg report late Sunday, which cited people familiar with the matter. The Elliott stake comes as Johnson Controls’ performance has lagged its peers Carrier Global (CARR) and Lennox International (LII). Shares of Johnson controls rose 9.2% over the past year, while Carrier gained 52% and Lennox surged 70%. Johnson Controls makes fire detection, refrigeration, security and HVAC equipment. A representative for…