Author: FX
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…
Justin Sullivan Oracle (NYSE:ORCL) was in focus on Thursday as investment firm Argus raised its earnings estimates and upgraded the IT tech giant after it reported fiscal third-quarter results. Shares were flat in late Thursday trading. Argus said it now sees fiscal 2024 earnings per share at $5.61, up from a previous view of $5.59 per share. It also increased its forecast for fiscal 2025 to $6.18 per share, up from a prior view of $6.03 per share. The upgrade comes after Oracle earned $1.41 per share on $13.28B in revenue for the period ending Feb. 29, as cloud services…
© Reuters. Investors following PAR PACIFIC HOLDINGS, INC. (NYSE:PARR) should note that Jeffrey Ryan Hollis, the company’s Senior Vice President, General Counsel, and Secretary, has recently sold shares in the company. On March 13, 2024, Hollis sold a total of 4,700 shares of common stock at a price of $37.39 per share, resulting in a total transaction value of $175,733. This sale has adjusted Hollis’s direct ownership in the company to 13,176 shares following the transaction. The price at which the stock was sold was explicitly mentioned in the accompanying footnotes of the filing, ensuring transparency of the executed trade.…
Oil (Brent, WTI) AnalysisIEA projects improved oil outlook for 2024, contingent upon OPEC+ cuts into year endBrent crude oil surpasses $85 a barrelWTI crude oil breaks above prior level of resistance to trade at a 3-month highThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow How to Trade Oil IEA Projects Improved Oil Outlook for 2024The International Energy Agency (IEA) revised its full year outlook for oil demand growth but it still remains a long way off the OPEC forecast. The…
Let’s be real, trading is already a wild mind game. There’s a whole rollercoaster of emotions involved – the thrill of a winning streak, the gut-punch of a big loss, and an unhealthy obsession with squiggly lines on a screen and economic news & data. But if that isn’t enough, traders have another choice that can seriously mess with their heads: prop firm or risking your own precious cash? Let’s take a quick look a both to see the potential psychological factors you may want to consider. Trading With the Backing of a Prop Firm Prop firms: the sugar daddies…
Following today’s data slate, the Atlanta Fed tracker is down to 2.3% from 2.5%. “A decrease in the nowcast of first-quarter real personal consumption expenditures growth from 2.9 percent to 2.2 percent was slightly offset by increases in the nowcasts of first-quarter real gross private domestic investment growth and first-quarter real government spending growth from 1.7 and 2.4 percent, respectively, to 3.0 and 2.7 percent,” the release said.That brings the Atlanta Fed tracker generally into line with the economists’ consensus. This article was written by Adam Button at www.forexlive.com. Source link
Share: The Brazilian Real (BRL) does not seem to be doing so well this year. Economists at Commerzbank analyze BRL outlook. At the turning point? The mere fact that the BCB has now reached such a turning point certainly increases the risks that the Real could become more of an average performing currency this year. Above all, the Real may not be able to withstand political disruptions, such as the announcement a few days ago that state-owned Petrobas will pay a lower dividend than the market expected. Those who need to manage BRL risks should keep this in…
Gold (XAU/USD) and Silver (XAG/USD) Price, Analysis and ChartGold trading on either side of $2,165/oz. but a break may be near.Silver prints a fresh three-month high.Most Read: Euro Slides Against Perky Dollar as US Inflation Springs Upside Surprise.The latest US PPI data – wholesale inflation – came in above market expectations, and last month’s print, but the dollar and US rate cut forecasts, remain little changed. US Retail Sales in February picked up, turning positive, but again missed market forecasts.The net effect of today’s US data releases left the US dollar index trading on either of 103.00 in lackluster trade.…
Drew Angerer/Getty Images News Former Treasury Secretary Steve Mnuchin said on CNBC on on Thursday that he is putting together a group of investors to acquire ByteDance’s (BDNCE) TikTok. “I think the legislation should pass and I think it should be sold,” Mnuchin said in an interview. “It’s a great business and I’m going to put together a group to buy TikTok.” “This should be owned by U.S. businesses,” Mnuchin added. ”There’s no way that the Chinese would ever let a U.S. company own something like this in China.” Mnuchin did not disclose who would be part of the group…
Japanese Yen (USD/JPY) Price and ChartsUSD/JPY ticks up againHowever it remains close to two months lowsNext week’s BoJ policy meet could provide some unusual excitementLearn how to trade USD/JPY with our free guide Recommended by David Cottle How to Trade USD/JPY The Japanese Yen drifted lower against the United States Dollar on Thursday but remains close to two-month highs as the market looks with unusual interest toward the Bank of Japan’s next monetary policy meeting on March 19. There are perhaps the clearest ever signs that the central bank could be serious about ending decades of extremely low-interest rates.The BoJ…