Author: FX

EHang press release (NASDAQ:EH): Q4 Non-GAAP EPS of -$0.02. Revenue of $8M. Total revenues were RMB56.6 million, representing a substantial increase of 260.9% from RMB15.7 million in the fourth quarter of 2022, and a notable increase of 97.8% from RMB28.6 million in the third quarter of 2023. Gross margin was 64.7%, representing a consistently high gross margin level with a slight decrease of 1.4 percentage points compared to 66.1% in the fourth quarter of 2022, but on par with 64.6% in the third quarter of 2023. Cash, cash equivalents, short-term deposits, short-term investments and restricted short-term deposits balances were RMB334.1…

© Reuters. FILE PHOTO: The Federal Reserve Building stands in Washington April 3, 2012. REUTERS/Joshua Roberts/File Photo By Mike Dolan LONDON (Reuters) – Next week’s Federal Reserve meeting has lost the heat it once had as a likely moment for the central bank’s first interest rate cut – but it could shine a big light on where the Fed thinks the economy is at over the long run. Conditioned by verbal pushback from Fed officials all year and still-sticky inflation and punchy growth readings, futures markets currently price a near zero chance of a first cut at the March 20…

Missed the breakdown on EUR/JPY? This yen pair recently fell through its ascending trend line that had been holding since the start of the year, indicating that a downtrend may be in the cards. If you’re hoping to catch this potential reversal, here’s a quick retest opportunity on the 4-hour time frame. EUR/JPY 4-hour Chart by TradingView Thanks to improvements in Japan’s economic data recently, the yen has been gaining ground against most of its forex peers in the past weeks. Yen bulls are likely getting their hopes up for an earlier exit to the BOJ’s negative rates era than…

21 of 34 (~62%) economists expect BOJ to end negative rates in April12 of 34 (~35%) economists expect such a move in March next weekSimilarly, 62% expect the BOJ to scrap YCC in April while 31% say that will take place in MarchI think the odds fairly reflect prevailing market sentiment, especially after Ueda’s more cautious remarks this week. One might argue that waiting to April can be deemed as the “safer” approach. That considering the BOJ will have more confirmation on wage talks and another month of economic data at least.However, we all know the outcome of the spring…

Indian Rupee trades on a negative note on Friday amid a stronger US Dollar.  India’s Wholesale Price Index-based inflation dropped to a four-month low, weaker than expected.  Investors will focus on the Indian Trade Balance data and US preliminary Michigan Consumer Sentiment, due on Friday.  Indian Rupee (INR) loses momentum on Friday. The uptick in the pair is bolstered by the upbeat US February Producer Price Index (PPI) data. Furthermore, the weaker-than-expected Indian WPI inflation exerts some selling pressure on the INR and creates a tailwind for the USD/INR pair. India’s wholesale inflation for February cooled to a four-month low,…

G0d4ather/iStock Editorial via Getty Images Samsung Electronics Co. (OTCPK:SSNLF) is expected to be awarded more than $6 billion to assist the chipmaker in expanding beyond an already announced project in Texas. The money is coming from the 2022 Chips and Science Act and is would be one of several major awards that the Commerce Department is expected to announce in the coming weeks, according to a Bloomberg report late Thursday, which cited people familiar with the matter. The Samsung award comes after Bloomberg reported last Friday that chipmaker Taiwan Semiconductor Manufacturing (TSM) looks to be the beneficiary of a $5…

© Reuters. FILE PHOTO: A pedestrian walks with an umbrella outside the Embassy of the Russian Federation, near the Glover Park neighborhood of Washington, U.S., February 22, 2022. REUTERS/Tom Brenner/FILE PHOTO (Reuters) – Russia’s ambassador to the United States said on Thursday his embassy had received a number of threats in connection with the Russian presidential election this week. “We are getting a great many provocative calls, threats,” Russian news agencies quoted Ambassador Anatoly Antonov as saying on state television. “We know that there are plans for anti-Russian acts, around our embassies and consulates, and there will be attempts to…

Most Read: British Pound Outlook & Market Sentiment – GBP/USD, GBP/JPY, EUR/GBPThe U.S. dollar surged on Thursday after a subdued performance in recent days, boosted by soaring U.S. Treasury yields following higher-than-anticipated February’s PPI numbers, released on the heels of Tuesday’s hot CPI report.Labor market data, showing that the number of Americans applying for jobless benefits stayed at historically low levels last week, further solidified the greenback’s gains by bolstering confidence in the country’s economic prospects.Presented below are key economic releases from today’s session.Source: DailyFX Economic CalendarAlthough the Fed has indicated that it would likely be appropriate to remove policy…

Barclays continues to favour US equities, citing three tailwinds for stocks ahead:First, much of the increase in valuations is earnings driven. Even as NVDA has pole-vaulted to become a $2trn-plus company, its P/E multiple to forward earnings has come down sharply. Earnings have not only justified bullish consensus forecasts, but have exceeded them in recent quarters. The same is true collectively of Big Tech; most of the equity rally is based on better earnings, not multiple expansion, especially after last week’s wobble in markets. Second is the macro outlookWe expect the U.S. jobless rate to peak at just 4% and…

Mexican Peso faces losses against a resurgent US Dollar, reacting to positive US retail and inflation reports. Banxico Deputy Governor Mejia signals potential for early interest rate cuts, which weighs on the Mexican currency. US economic strength challenges Fed’s easing timeline as traders trim rate cut bets for June’s meeting. The Mexican Peso (MXN) posts minimal losses against the US Dollar (USD) after robust economic data from the United States might deter the US Federal Reserve (Fed) from cutting rates in the first half of 2024. Bank of Mexico (Banxico) Deputy Governor Omar Mejia opened the door for an interest…