Author: FX
Share: WTI Oil jumps above $79 in European trading on Monday. Oil traders are positioning for more upside, with futures net long at highest since October. The US Dollar Index is retreating back below 104 with markets looking ahead of US Jobs Reports on Friday. Oil prices are in the green this Monday morning, backed by headlines that came out over the weekend confirming that OPEC will persist its production curbs for at least Q2, in line with expectations. Traders are seeing further bullish signs with the Commodity Futures Trading Commission (CFTC) noting speculative net long positions rising…
Lux Blue/iStock Editorial via Getty Images Spain’s largest lender, Banco Santander (NYSE:SAN), has eliminated about 320 positions in the U.S. as it steps up focus on its digital operations, as per a Bloomberg report that cited a person familiar with the matter. The bank laid off roughly 2.7% of its U.S. staff recently, out of a total workforce of about 11,800. “We are evolving our U.S. business, investing in digital capabilities and simplified processes to adapt to changing customer needs,” said Santander (SAN), according to the report. “These steps have resulted in an update to our staffing model that impacts…
Gold (XAU/USD) Price Analysis and ChartGold rallies after US data miss.Gold trades in heavily overbought territory.Learn how to trade gold with our complimentary trading guide Recommended by Nick Cawley How to Trade Gold Most Read: Silver Tumbles Back Into Multi-Month Support ZoneLast Friday’s disappointing US data releases sent gold spinning higher and back to levels last seen back in December last year. The US ISM manufacturing PMI missed market forecasts by a wide margin, and remained in contraction territory, with new orders falling from 52.5 in January to 49.2 in February. The Michigan Consumer Sentiment report also disappointed, missing both…
5/5 © Reuters. Families of passengers from both China and Malaysia, who were aboard the missing Malaysia Airlines flight MH370, are seen during a remembrance event commemorating the 10th anniversary of its disappearance, in Subang Jaya, Malaysia March 3, 2024. REUTERS/H 2/5 SYDNEY (Reuters) – Malaysia is willing to re-open an investigation into one of the world’s greatest aviation mysteries, the disappearance of Malaysia Airlines MH370 in 2014, if there is compelling new evidence, Prime Minister Anwar Ibrahim said on Monday. Malaysia, along with Australia and China, ended in January 2017 a fruitless two-year, $130-million underwater hunt for the Boeing…
Market players have a lot to watch out for this NFP week, including a couple of major central bank decisions and Australia’s quarterly GDP. Speeches by Fed head Powell might shake things up as well, along with leading U.S. jobs indicators like the ISM services PMI. How do you think major currencies might fare this time? 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
EUR/AUD just pulled back after making new 2024 highs! How low will the pair go before the bulls step back in? Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your fundie homework on the euro and the Australian dollar, then it’s time to check out the economic calendar and stay updated on daily fundamental news! EUR/AUD 4-hour Forex Chart by TradingView If your research points you to the euro gaining traction ahead of and after the European Central Bank (ECB)’s policy decision, then you can take a closer look at…
Premier Li Qiang will not hold a press conference at the conclusion of the NPC conference on March 11.Li will unveil his China’s economic growth target at the annual NPC session on Tuesday, tomorrow. The growth target is expected to be “around 5%”. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Share: Gold price pauses after last week’s strong positive move to a fresh YTD top. Slightly overbought RSI on the daily chart acts as a headwind for the metal. Traders also seem reluctant ahead of this week’s key US data/event risks. Gold price (XAU/USD) is seen oscillating in a narrow range during the Asian session on Monday and consolidating last week’s strong gains to the $2,088-2,089 region, or its highest level since December 28. The US Dollar (USD) continues to be undermined by the disappointing release of the US ISM survey on Friday, which showed that manufacturing sector…
Drew Angerer/Getty Images News Update 9:50pm: Adds Macy’s, investor comment. An investor group bidding to acquire Macy’s (NYSE:M) raised its offer by about $1 billion after the department-store chain rejected a prior proposal as too low. Arkhouse Management and Brigade Capital Management offered to buy the Macy’s (M) shares they don’t already own for $24 each, or $6.6 billion, Macy’s and the investor group confirmed in statements on Sunday. Macy’s board will “carefully review” and evaluate the latest proposal Consultation with its financial and legal advisors, the retailer said in a statement. The group in December had offered $21 a…
© Reuters. FILE PHOTO: A woman works in a restaurant in Bangkok, Thailand September 11, 2023. Thailand’s new government approved a raft of policies to lower the cost of living, suspend farmers’ debts, draw more tourists and boost incomes. REUTERS/Jorge Silva/File Ph BANGKOK (Reuters) – Thailand’s employment rose 1.7% in the final quarter of 2023 from a year earlier, helped by the tourism sector, after a 1.3% year-on-year increase in the previous quarter, the state planning agency said on Monday. Jobs in the hotel and restaurant sector rose 8% annually in the final quarter of 2023 as the number of…