Author: FX

onurdongel/iStock via Getty Images Ballard Power Systems (NASDAQ:BLDP) said on Thursday it is implementing a global corporate restructuring to reduce corporate spending amid a slowdown in hydrogen infrastructure development and delayed fuel cell adoption. The company expects its restructuring measures to yield annualized total operating expense savings exceeding 30%, with a substantial part of the annualized savings being realized in 2025. The reduction measures include a reduction in workforce, operational consolidation, and reduction in capital expenditures. Cost reduction measures are not expected to impact product delivery and program execution. As part of the restructuring, Paul Dobson and Mark Biznek will…

The US PPI came in mixed today. The initial jobless claims came in as expected. The combination initially did not change perceptions that the Fed will likely cut rates by 25 basis points. Later there were a couple posts by WSJ Timiraos. The first talked to the dilemma that the Fed is facing. Do they go small or do they go big (ie.25 or 50 bps cut).That gave the market more hope that the Fed may still go big with a 50 basis point cut. There was another tweet where the number crunchers of CPI and PPI, project core PCE…

The Dow Jones is still battling to reclaim the 41,000 level. US PPI inflation kept the door open for a Fed rate cut next week. US Initial Jobless Claims also ticked up, but not enough to deter a rate trim. The Dow Jones Industrial Average (DJIA) stuck close to familiar midrange territory on Thursday, holding close to the 41,000 handle but struggling to decisely reclaim the key technical figure. US Producer Price Index (PPI) business-level inflation rose slightly faster than expected on a monthly basis, while the annualized figure held steady, alleviating fears of rate-cut-threatening inflation pressures. US PPI rose…

BrightSphere Investment goes ex-dividend tomorrow Source link

By Ned Randolph NEW ORLEANS (Reuters) -Storm Francine barreled across the U.S. South on Thursday, pounding the region with heavy rains and gusty winds while causing widespread power outages for hundreds of thousands of homes and businesses. It had weakened from a Category 2 hurricane to a tropical depression as it moved northeastward over central Mississippi, but still packed winds of 35 miles per hour (55 km per hour) and threatened areas with dangerous storm surges early on Thursday, the National Hurricane Center said in an advisory. It was expected to weaken further and become a post-tropical cyclone later in…

In the kickstart video for September 12, I take a look at three the major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD.The USD is lower after they PPI data and the ECB rate decision to cut interest rates. All was much as expected so the changes are fairly modest. In the video above, I talked to the technical levels that are in play for those major currency pairs. Source link

August’s RICS House Price Balance data strengthened to +1%, well ahead of July’s –18% and the forecast of –14%, Scotiabank’s Chief FX Strategist Shaun Osborne notes. GBP is consolidating for the time being “The data (reflecting the difference between agents reporting higher house prices minus those reporting a fall) was the strongest in close to two years. Details in the report were strong as well, suggesting that expectations of lower interest rates has given the UK housing market a significant lift.” “Cable is holding a narrow range well withing yesterday’s spot range. This implies some moderation at least in short-term…

Investing.com– U.S. stock index futures fell slightly in evening deals on Wednesday as a rally in technology stocks, particularly Nvidia, ran out of steam, while investors fretted over an upcoming interest rate decision from the Federal Reserve.  Gains in technology helped Wall Street shrug off early losses and end higher on Wednesday, even as a stronger reading on core consumer inflation dented expectations of a bumper interest rate cut by the Fed.  Tech gains also helped markets look past heightened political uncertainty after a fiery presidential debate between Vice President Kamala Harris and former President Donald Trump, where Harris was…

This sterling pair seems to be struggling to sustain its recent trend, and a chart pattern is forming to suggest a potential reversal. GBP/CAD made a couple of failed attempts to bust through the 1.7850 minor psychological mark and is now testing the double top neckline support around 1.7700. Will we see a break lower and downtrend soon? GBP/CAD 4-hour Forex Chart by TradingView A few misses in U.K. economic data releases this week appear to be dragging the pound lower, as traders look ahead to another likely Bank of England (BOE) interest rate cut. In particular, the average earnings…

Fundamental OverviewYesterday, we got the US CPI report and, although as expected it didn’t have the same large impact as it used to, the core m/m figure surprised to the upside. The shelter component re-accelerated and that’s something to keep an eye on given the imminent rate cut cycle.The data triggered a repricing in interest rates expectations with the market now seeing just a 13% probability of a 50 bps cut at the upcoming FOMC meeting and less easing further out the curve. For the SNB, the market expects the central bank to cut by 25 bps at the upcoming…