Author: FX
FOMC meeting ended with 50 bps interest rate cut to the 4.75%-5.00% range. The Dot Plot suggests a gradual easing cycle that hints at three cuts in 2024. Chair Powell stressed during his presser that the Fed is not in a rush. The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, is trading flat near 100.70 on Thursday as the market digests the Federal Reserve’s (Fed) 50-basis-point (bps) cut. The market overreacted to the news, intensifying expectations of further easing despite the Fed’s efforts to indicate a gradual easing cycle. On Thursday,…
Centessa Pharmaceuticals a new buy at B Riley on sleep disorders pipeline Source link
The economic woes for Germany are coming from every direction. High energy prices and competition from China are undermining its manufacturing and export-oriented economy.The problems at Volkswagen are apparently worse than previously assumed, according to Manager-Magazine. In the medium term, the number of employees in Germany alone could be reduced by 30,000 to 100,000, the report says referencing group insiders.It’s not just jobs either, planned investments could be cut by 20 billion euros due to revenue shortfalls. The big miss is in China, where VW sells about one third of all its brands.I don’t have the original report but here’s…
EUR/USD holds gains above 1.1100 as investors expect the Fed to continue its aggressive policy-easing cycle. The Fed sees interest rates declining to 4.4% by year-end. ECB Nagel said that inflation is still higher than the ECB would like to see. EUR/USD gives up half of its intraday gains but holds the crucial support of 1.1100 in Thursday’s North American session. The major currency pair faces nominal pressure as the US Dollar (USD) bounces back after the release of lower-than-expected Initial Jobless Claims data for the week ending September 13. The data showed that the number of individuals claiming jobless benefits for the first time came…
Expensify, Inc. (NASDAQ:EXFY) CEO David Barrett recently engaged in transactions involving the company’s Class A Common Stock, according to a new SEC filing. Barrett, who also serves as a director at Expensify, sold a total of 13,268 shares over two separate transactions, netting over $30,000.On September 16, Barrett sold 11,095 shares at an average price of $2.28 per share. The sales were executed in multiple transactions with prices ranging from $2.25 to $2.32. Following this sale, Barrett’s ownership in Class A Common Stock decreased to 173,820 shares. The next day, on September 17, an additional 2,173 shares were sold at…
Fundamental OverviewYesterday, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of an “insurance” cut with the dot plot showing two more 25 bps cuts by the end of the year and less than the market expected in 2025. What’s important is that the Fed is cutting into a resilient economy which should lead to better growth expectations and support the stock market.Nasdaq Technical Analysis – Daily TimeframeNasdaq DailyOn the…
The New Zealand Dollar (NZD) is likely to trade in a 0.6150/0.6270 range, UOB Group FX analysts Quek Ser Leang and Victor Yong note. Closing in on the 0.6270 hurdle 24-HOUR VIEW: “In NY trading, NZD traded in a volatile manner between 0.6184 and 0.6268, closing at 0.6208 (+0.33%). We are not able to glean much out of the choppy price movements. Today, we expect NZD to trade in a range, probably between 0.6180 and 0.6230.” 1-3 WEEKS VIEW: “On Tuesday (17 Sep, spot at 0.6185), we indicated that NZD is likely to trade in a 0.6135/0.6235 range for now.…
Win McNamee JPMorgan (NYSE:JPM) CEO Jamie Dimon thinks people are overly focused on the soft landing-hard landing debate. Geopolitical tensions pose the biggest risk to global financial markets and “may affect the free and Democratic world for the next 100 years,” he warned. Source link
Spot gold turned lower from its $2,600 record highs following the Fed’s interest rate cut event! Are we looking at an opportunity to jump in XAU/USD’s long-term uptrend? Let’s take a closer look at the 4-hour time frame: Gold (XAU/USD) 4-hour Forex Chart by TradingView In case you missed it, the Fed had a “Brat summer” moment and surprised some traders with a 50bps interest rate cut on Wednesday. Not only that, but the “Dot plot” projections also pointed to more rate cuts this year and the next. However, the Fed also raised its medium-term interest rate forecasts, and JPow…
The firm is changing up their call after the Fed moved more aggressively to start things off with a 50 bps rate cut here. Their previous call was for the Fed to only perform quarterly cuts in 2025. But now, they are expecting the Fed to go with 25 bps rate cuts at each of the meetings in January, March, May, and June. This article was written by Justin Low at www.forexlive.com. Source link