Author: FX

The major European indices are ending the day with gains. The gains are not on par with the China and Hong Kong gains of 4% but German Dax up 0.75% and France’s CAC up 1.28% is not bad. The closing levels show: German DAX, +0.75%France’s CAC +1.28%UK’s FTSE 100 +0.28%Spain’s Ibex +0.33%Italy’s FTSE MIB +0.60%As London/European traders head for the exits, US indices are also back in positive territory after earlier declines on the weaker US consumer confidence and Richmond Fed survey data.Dow industrial average +0.07%S&P index +0.10%NASDAQ index +0.36%The small-cap Russell 2000 is unchangedLooking at US yields as we…

EUR/USD rises from 1.1100 as investors digest downbeat flash Eurozone PMI data for September. Market participants expect the Fed to cut interest rates further by 50 bps in November. Investors shift their focus to the US PCE inflation data for August. EUR/USD gains after discovering buying interest near the key support of 1.1100 in Tuesday’s North American session. The major currency pair recovers from Monday’s losses, which were triggered after the release of the flash HCOB Purchasing Managers Index (PMI) data for September.  The PMI report showed that the business activity unexpectedly sank into contraction, which was estimated to fall slightly but remained above the 50.0…

Here’s a recap on the month of major central bank policy decisions so far:That leaves us with the SNB left later in the week. And I would say it will be one of the more interesting decisions besides the Fed in September.The “expectation” is for the Swiss central bank to cut rates by 25 bps, bringing the key policy rate to 1.00%. This was their previous decision in June.However, since then, they have made a bit of a pivot to comment on their dislike towards a stronger franc. In terms of USD/CHF, the pair is keeping near the lows for…

German IFO Business Climate Index misses estimates with 85.4 in September. The IFO Current Economic Assessment Index fell to 84.4 in the reported month. The headline German IFO Business Climate Index dropped to 85.4 in September from 86.6 in August, missing the market expectations of 86.0. Meanwhile, the Current Economic Assessment Index fell to 84.4. in the same period from 86.4 recorded in August. The reading came in below the estimated 86.1 print. The IFO Expectations Index – indicating firms’ projections for the next six months, dropped to 86.3 in September vs. 86.8 in August and 86.3 forecast. Market reaction to the German…

New Mountain Finance (NASDAQ:NMFC) announced that it has priced an underwritten public offering of $300 million in aggregate principal amount of 6.200% unsecured notes due 2027. The notes will mature on October 15, 2027. The notes will bear interest at a rate Source link

(Reuters) -Levi Strauss’ target of hitting $9 billion to $10 billion in revenue by 2027 would be pushed back as rising costs of living hits Western consumers, even as the company expands store openings, the Financial Times reported on Tuesday. The denim maker had first set those goals in 2022. Levi Strauss (NYSE:), which owns over 1,200 company-operated stores across 38 countries, reported net revenues of $6.2 billion in the year ended November 26, 2023 – almost the same as the year earlier. CEO Michelle Gass told FT that the company will “do our homework again” before giving investors a…

The Australian dollar has been all over the charts —and it’s only Tuesday! In case you missed it, the commodity currency started the week by reacting to last week’s Fed rate cut. More recently, it’s getting a boost from the People’s Bank of China (PBOC) as they work to stimulate the world’s second-largest economy. Meanwhile, the British pound has pulled back after weaker-than-expected September PMI reports took some of the shine off last week’s “hawkish hold” from the Bank of England. This Article Is For Premium Members Only Become a Premium member for full website access, plus get:…

Now that the RBA decided to keep rates unchanged at 4.35% as expected, can the upcoming Australia CPI release support their upbeat view? Expectations are for a slowdown in headline price pressures from 3.5% year-on-year to 2.7% in August, which still leaves annual inflation above target. Check out this reversal pattern breakout and potential continuation I’m watching on AUD/NZD. 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 major assets were all over the place on Monday, as traders priced in the Fed’s rate cut, escalating Middle East tensions, and potential global growth slowdown. Which headlines caught traders’ attention in the last trading sessions? We’re talking about them below! Headlines: New Zealand trade deficit jumped to 2.20B NZD in August, July’s deficit revised higher from 963M NZD to 1.02B NZD Judo Bank Australia manufacturing PMI slipped from 48.5 to a 52-month low of 46.7 in September; Services PMI dipped from 52.5 to a two-month low of 50.6 HCOB Flash France manufacturing PMI for September: 44.0 (44.3 expected,…

PBOC governor Pan Gongsheng, NFRA* director Li Yunze, and CSRC* president Wu Qing joined forces for a 9 am (Beijing time) press conference that generated bombshell monetary policy stimulus headlines that were subsequently withdrawn. The Governor of the People’s Bank of China was reported (erroneously) as saying the Bank had:cut the Reserve Requirement Ratio (RRR) by 50bp, cut the 7-day Reverse Repo rate to 1.5%, from 1.7%What the governor actually said was that the Bank will, at some time, make these cuts. He did not offer a firm timeline. The cuts are something the Bank will do, but not right…