Author: FX

Justin Sullivan/Getty Images News Ford (NYSE:F) has agreed to pay $365M to settle customs civil penalty claims related to misclassified and under-valued vehicles, the U.S. Department of Justice said. The allegations state that the company violated the Tariff Act of 1930 by misclassifying and understating the value of hundreds of thousands of its Transit Connect vehicles. The Department of Justice added, the settlement resolves allegations that Ford (F) came up with a scheme to avoid paying higher duties by misclassifying cargo vans. The government had alleged that from April 2009 to March 2013, Ford (F) imported Transit Connect cargo vans…

© Reuters. On Monday, RBC Capital made a positive adjustment to the rating of Marks and Spencer Group Plc (LON::LN) (OTC: MAKSY (OTC:)), raising the stock from ‘Sector Perform’ to ‘Outperform’. Accompanying this upgrade, the firm also increased the stock price target to £3.00 from the previous £2.85. The retail giant’s shares have experienced a 17% decline from recent peaks, a movement attributed to shifts in investor positioning and growing concerns about the UK consumer sector and cost outlook. Despite these market reactions, RBC Capital maintains that there has not been a significant change in the company’s strong fundamentals. Marks…

US DOLLAR FORECAST – EUR/USD, USD/JPYU.S. dollar finds stability and rebounds modestly on Monday after a sharp sell-off last weekThe upcoming U.S. inflation report will play a pivotal role in shaping the market’s near-term trajectory.This article focuses on the technical outlook for EUR/USD and USD/JPYMost Read: US Dollar Forecast – US CPI to Spark Next Big Move – EUR/USD, USD/JPY, GBP/USDThe US dollar found its footing on Monday, snapping a losing streak that dragged the DXY index to its weakest point since January Friday. Before today’s modest bounce, the greenback has been losing ground steadily amid falling U.S. yields on…

European major indices are closing Monday with mixed results. German DAX France CAC, and Italy’s FTSE MIB close lower, but UK, and Spain indices rise on the day. The final numbers are showing:German DAX, -0.38% at 17746.26France CAC, -0.10% at 8019. 74UK FTSE 100, +0.12% at 7669.23Spain’s Ibex, +0.19% at 10325.69Italy’s FTSE MIB, down -0.24% at 33,322.33As European traders head for the exits, US shares are maintaining modest declines:Dow Industrial Average -0.03%S&P index -0.15%NASDAQ index -0.20%In the US debt market:2-year yield 4.525%, +4.0 basis points5-year yield 4.081%, +1.9 basis points10 year yield 4.094% +0.8 basis points30-year yield 4.261% -0.1 basis…

Share: EUR/JPY retreats, influenced by potential changes in BoJ’s monetary policy and wage negotiation outcomes. Japan’s GDP outperforms expectations, stoking anticipations for a BoJ rate adjustment in the near future. ECB’s hawkish tone tempers immediate easing expectations, with policy shifts eyed for June amidst inflation concerns. The Euro registered losses against the Japanese Yen in the morning of the North American session. It was down 0.13% and traded at 160.55 after hitting a daily high below the 161.00 mark. Rumors that the Bank of Japan (BoJ) could end negative rates sponsored a neg-down in the EUR/JPY pair. Euro…

GBP/USD and EUR/GBP Analysis and ChartsFed and ECB seen cutting rates in June, BoE in August.Rate differentials will support Sterling against the USD and Euro.​Most Read: Markets Week Ahead – Gold Soars, Rate Cuts Near, Nasdaq and Nvidia Wobble Recommended by Nick Cawley Get Your Free GBP Forecast Growing expectations that both the Federal Reserve (Fed) and the European Central Bank (ECB) will start cutting interest rates in June, while the Bank of England (BoE) waits until August, have driven Sterling higher against the US dollar and the Euro in the past couple of weeks. Current market predictions show a…

Central Puerto press release (NYSE:CEPU): Q4 net income in 4Q23 amounted to $155.8 million, compared to $13.3 million of 4Q22. consolidated adjusted EBITDA amounted to $45.2 million in 4Q23 , compared to $68.1 million in 4Q22. Revenue of $98M (-18.9% Y/Y). As of December 31, 2023, the company and its subsidiaries had Cash and Cash Equivalents of $16.7 million, and Other Current Financial Assets of $111.1 million. In 4Q23 , energy generation dropped 4% to 33,258 GWh, compared to 34,572 GWh in 4Q22, in line with the 4% decrease in energy demand. During 4Q23, Central Puerto’s operated power generation increased…

Japanese Yen Analysis, Price, and ChartsUSD/JPY slides to two-month lowsBroad Dollar weakness is especially clear in USD/JPYCould the end of ultra-loose Japanese monetary policy be in sight?The Japanese Yen continued a strong run of gains against the United States Dollar on Monday as the monetary stars in both Japan and the US appear to be aligning to strengthen it as they have not for decades.There’s a clear sense in the market that the Bank of Japan may at least be ready to rein in some of the extraordinary monetary stimulus it has had in place since the early 1990s as…

© Reuters. NEW YORK – Empire State Realty Trust, Inc. (NYSE:), a real estate investment trust (REIT) focused on New York City properties, has announced the establishment of a new $715 million credit facility for its operating partnership, Empire State Realty OP, L.P. This facility includes a $620 million revolving credit line and a $95 million term loan. The new revolving credit facility is set to mature on March 8, 2029, with the possibility of two six-month extensions, replacing the current facility due in March 2025. Similarly, the term loan facility, also maturing on March 8, 2029, offers two twelve-month…

Rushing the move is not smart nor beneficialUpside risks to inflation are “alive and kicking”Need more hard evidence on inflation outlookOnly in June will we reach the confidence threshold on thatBut discussions on easing should ready start, will use the weeks ahead for thatThis just reaffirms the current market expectations. If all goes according to plan, the ECB should communicate its intention to pivot in April. That will be followed up by the first rate cut in June. The odds of an April move are a measly ~13% with June fully priced in at the moment. This article was written…