Author: FX

The Bank of England (BOE) kept its main interest rate at 4.75% in December, but surprised markets with a dovish 6-3 vote split that sent the pound tumbling. In a significant shift, three members of the Monetary Policy Committee (including Deputy Governor Ramsden) voted for an immediate quarter-point cut, five believed recent developments supported a gradual approach to easing, and one member – thought to be Catherine Mann – appears poised to favor aggressive easing in due course. Link to official BOE Statement (December 2024) Turned out, the U.K. economy was giving mixed signals. Inflation jumped up to 2.6% in…

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Markets:Crude oil $69.14 down -$0.88 or -1.26%Gold up $8.98 or 0.35% at $2593Silver -$0.30 or -1.07% at $29.02Bitcoin down -$2,300 at $97,611In the US stocks, the broader indices gave up gains and closed lower, but the Dow snapped a 10 day losing streak and is closing higher.Dow up 15.37 points or 0.04% at 43,342.24S&P fell -5.08 poiints or -0.09% at 5867.08Nasdaq fell -19.92 points or -0.10% a 18,372.77In the US debt market :2 year 4.316%, down -4.3 bps10 year 4.57%, up 5.0 bps30 year 4.744%, +6.5 bpsEuropean indices closed sharply lower:German Dx, -1.35%France’s CAC -1.22%UK FTSE 100, -1.14%Spain’s Ibex -1.52%Italy’s…

By Michelle Nichols UNITED NATIONS (Reuters) – The United Nations General Assembly voted on Thursday to ask the International Court of Justice for an opinion on Israel’s obligations to facilitate aid to Palestinians that is delivered by states and international groups including the U.N. The Norwegian-drafted resolution was adopted by the 193-member body with 137 votes in favor. Israel, the United States and 10 other countries voted no, while 22 countries abstained. The move came in response to Israel’s decision to ban the operation of the U.N. Palestinian refugee agency UNRWA in the country from late January and other obstacles…

DXY hovers near 108.00 on Thursday as buyers seem to be taking a breather. Profit-taking emerges after Wednesday’s strong rally. Fed’s cautious tone spooks rate-cut optimists, which benefits the USD. The US Dollar Index (DXY), which tracks the USD’s value against a range of currencies, pulls back from its two-year peak following signals from the Federal Reserve (Fed) about fewer interest rate cuts in the future. Federal Open Market Committee (FOMC) members express concerns about inflation continuing into 2025 and take into account possible “Trump-effect” inflationary policies, such as tariffs and reduced labor supply due to deportations. The DXY stands…

It was something of a ‘catch up’ trade day for Europe as all the pain in US stocks yesterday took place after the European close. Despite that, it wasn’t that bad which is something of a win. Unfortunately though, European energy prices are soaring again and Germany’s auto manufacturing industry is being overrun by China.Closing changes:Stoxx 600 -1.5%German DAX -1.2%France CAC -1.2%UK FTSE 100 -1.2%Spain IBEX -1.5%Italy’s FTSE MIB -1.7% This article was written by Adam Button at www.forexlive.com. Source link

The British Pound trims some of its earlier gains versus the US Dollar after the Bank of England (BoE) held rates steady and pushed the GBP/USD toward its daily high of 1.2664. However, once the dust settled, the pair retreated below 1.2600, trading at 1.2578 at the time of writing. Read More… The Pound Sterling (GBP) falls sharply against its major peers in Thursday’s early North American after the Bank of England (BoE) leaves interest rates unchanged at 4.75%, as expected. The British currency faces a sell-off as three out of nine members of the Monetary Policy Committee (MPC) proposed a 25-basis points (bps) interest rate reduction. Only policymaker Swati…

Fidelity U.S. Value Currency Neutral ETF declares CAD 0.051 dividend Source link

Investing.com — ConAgra Brands, Inc. (NYSE: CAG) reported second-quarter fiscal 2025 results that exceeded analyst expectations for both earnings and revenue but lowered its full-year earnings guidance. The packaged food company posted adjusted earnings per share of $0.70, surpassing the analyst consensus of $0.68. Revenue came in at $3.2 billion, slightly above estimates of $3.15 billion. However, reported net sales decreased 0.4% YoY, while organic net sales increased 0.3%. ConAgra updated its fiscal 2025 outlook, now projecting adjusted earnings per share between $2.45 and $2.50, below the analyst consensus of $2.58 and lower than its prior target of between $2.60 and…

Don’t see persistent economic stagnation, inflation undershootingA 50 bps move would require projections showing persistent undershooting of inflationDon’t see a situation where rates would need to fall below neutralEuro weakness not creating inflationary pressuresThe message has been consistent across the board from the ECB since last week. So, this just adds to that. This article was written by Justin Low at www.forexlive.com. Source link