Author: FX

© Reuters. File photo: Employees work on the trucks production line during an organised media tour to the Shaanxi Automobile Group factory in Xian, Shaanxi province, China May 17, 2023. REUTERS/Florence Lo/File photo BEIJING (Reuters) – China’s factory output sped up in the January-February period and beat expectations, marking a solid start for 2024 and offering tentative relief to policymakers who are seeking to shore up faltering economic growth. Industrial output rose 7.0% in the first two months of the year, data released by the National Bureau of Statistics (NBS) showed on Monday, above expectations for a 5.0% increase in…

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.Previous close was 7.1965PBOC injects 10bn via 7-day RR, sets rate at an unchanged 1.8%10bn yuan of RRs mature todaythus neutral on the day in OMOsOffshore yuan, USD/CNH, update, persistently higher than the People’s Bank of China onshore yuan…

The European Central Bank (ECB) policymaker Pablo Hernandez de Cos said on Sunday that the central bank could begin cutting interest rates in June after an easing in eurozone inflation, per Reuters,  Key quotes “If our macroeconomic forecasts are met in the coming months, it is normal that we will start cutting rates soon and June could be a good date to start.””The current degree of consensus is very high and I hope this will continue to be the case.””In any case, I believe that the current degree of consensus is very high and I hope this will continue to…

FreightCar America (NASDAQ:RAIL) is scheduled to announce Q4 earnings results on Monday, March 18th, after market close. The consensus EPS Estimate is -$0.01 (+96.8% Y/Y) and the consensus Revenue Estimate is $135M (+4.7% Y/Y). Over the last 2 years, RAIL has beaten EPS estimates 63% of the time and has beaten revenue estimates 50% of the time. Over the last 3 months, EPS estimates have seen 0 upward revisions and 2 downward. Revenue estimates have seen 0 upward revisions and 1 downward. More on FreightCar America Source link

By Luis Jaime Acosta BOGOTA (Reuters) -Colombia will suspend its months-long ceasefire with the Estado Mayor Central (ECM) armed group in three provinces on Wednesday, a government decree said on Sunday, citing incidents of violence that broke the ceasefire. The EMC (NYSE:) – founded by former members of the Revolutionary Armed Forces of Colombia (FARC) rebels who reject the 2016 peace deal signed by that group – began talks with President Gustavo Petro’s government last year, in a bid to end its part in Colombia’s 60 years of war. The announcement of the end of the ceasefire did not mention…

Is the Bank of Japan (BOJ) about to exit its ultra-easy monetary policy? Or will officials hold and pushback any tightening expectations? Here’s what you should look out for in the upcoming BOJ statement and what it could mean for JPY pairs. 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

Week Ahead, March 18-22ndMon: Chinese Retail Sales (Feb), EZ Final CPI (Feb)Tue: BoJ Announcement, RBA Announcement; German ZEW Survey (Mar), Canadian CPI (Feb)Wed: FOMC Announcement, PBoC LPR, BCB Announcement, CNB Announcement, BoI Announcement, Japan Market Holiday (Vernal Equinox Day); UK CPI (Feb), New Zealand GDP (Q4)Thu: BoE Announcement, SNB Announcement, Norges Announcement, CBRT Announcement, European Council Meeting; EZ/UK/US Flash PMIs (Mar), US Philly Fed (Mar), New Zealand Trade Balance (Feb), Japanese CPI (Feb).Fri: Japan’s Rengo (labour union) 2nd Pay Tally, CBR Announcement, European Council Meeting; Australian Jobs Report (Feb), UK Retail Sales (Feb), German Ifo Survey (Mar)Note: Previews are listed…

© Reuters. Yulia Navalnaya, the widow of Alexei Navalny, the Russian opposition leader who died in a prison camp, stands in a queue outside the Russian Embassy on the final day of the presidential election in Russia, in Berlin, Germany, March 17, 2024. REUTERS/Anneg By Guy Faulconbridge and Andrew Osborn MOSCOW (Reuters) – Thousands of people turned up at polling stations across Russia on Sunday to take part in what the anti-Kremlin opposition said was a peaceful but symbolic political protest against the re-election of President Vladimir Putin. In an action called “noon against Putin”, Russians who oppose the veteran…

Berezko/iStock via Getty Images Boeing (NYSE:BA) led weekly declines among shares of the biggest U.S. industrial companies as stocks fell for a second straight week amid investor worries about inflation data. The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings include some of the largest U.S. companies in the sector, was down by less than 1% for the week. The performance mirrored the performance of other benchmarks, with the Standard & Poor’s 500 stock index (SP500) slipping by less than 1%. The Dow Industrials Average (DJI) and 2.2% and the Nasdaq Composite (COMP.IND) also fell by less than 1% for…

Welcome to our latest Bitcoin technical analysis! We delve into the daily timeframe, examining the recent movements and potential future directions of Bitcoin.? Today’s bitcoin technical analysis highlights:Observation of the past two daily candles and their proximity to the crucial 20 EMA, a significant indicator for algo firms and professional traders.A potential downward movement was noticed, followed by a rebound over the 20 EMA, signaling a potential temporary bounce.Discussion on key price levels to watch, specifically around the $68,400 and $69,250 to $70,000 range, within a notable trend line zone after a double bottom pattern, suggesting a possible breakout.? What’s…