Author: FX
Share: The Reserve Bank of New Zealand Governor Adrian Orr said on Thursday that he was confident the current official cash rate was restricting demand but it has to stay at the current levels to curb inflation, per Reuters. Key quotes “We’re in a position where we are locked in saying inflation is going to be returning (to the 1%-3% target band) but that is subject to us retaining a restrictive stance with the official cash rate.””Domestically, the economy is behaving as anticipated with interest rates where they are and the terms of trade where they are so spending…
Most Read: British Pound Technical Analysis & Trade Setups: GBP/USD, EUR/GBP, GBP/JPYThe U.S. dollar edged higher today, but displayed measured strength amid subdued U.S. Treasury yields. A sense of caution permeated markets as traders anxiously awaited the looming release of the core PCE deflator, the Federal Reserve’s preferred inflation gauge. This economic report can greatly influence the central bank’s monetary policy outlook so it could bring volatility in the days ahead.Forecasts suggest that January’s core CPI rose 0.4% m-o-m, resulting in a slight deceleration in the yearly print from 2.9% to 2.8%, a baby step in the right direction. In…
First Savings Financial raises quarterly dividend by 7.1% to $0.15/share Source link
© Reuters. WESTLAKE VILLAGE, Calif. – Arcutis Biotherapeutics, Inc. (NASDAQ:), a commercial-stage biopharmaceutical company, has announced a strategic collaboration and licensing agreement with Sato Pharmaceutical Co., Ltd. for the development and commercialization of topical roflumilast in Japan. The deal, which focuses on a non-steroidal treatment for inflammatory skin diseases, includes an upfront payment of $25 million to Arcutis, with the potential for additional milestone payments totaling $40 million, as well as tiered, double-digit royalties. Roflumilast, a potent phosphodiesterase type 4 (PDE4) inhibitor, is being developed in cream and foam formulations for conditions such as plaque psoriasis, seborrheic dermatitis, and atopic…
NY Fed Pres. Williams is out with even more comments. 3 interest-rate cuts in 2024 reasonable for US central bank officials to debateData will drive one federal cut rates.Current US economy is similar to where it was during December policy meeting.It is unclear what impact potential US government shutdown would have on economy.Of note is that he doesn’t shy away from three cuts in 2024, but he does use the word “debate” to qualify that assessment. I don’t think he considers the debate to be four rate cuts, but between two and three. This article was written by Greg Michalowski…
With the Fed pushing back on interest rate cuts, can the upcoming U.S. core PCE price index release change their minds? Or will their preferred inflation measure reinforce their relatively upbeat outlook? Here’s what you need to know about the report and how it might impact USD trends. 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
Share: USD/JPY trades slightly up, navigating through intervention concerns and US economic data impact. Technical analysis shows potential for uptrend continuation if the 151.00 level is reclaimed by buyers. Key support levels identified, with a drop below 150.26 possibly signaling a shift towards 150.00 and lower. The USD/JPY remains subdued during the North American session, trading at around 150.71, up by 013% on Wednesday. Economic data releases from the United States (US) maintain the pair within familiar levels despite threats by Japanese authorities to step into the Forex markets. USD/JPY Price Analysis: Technical outlook As the USD/JPY daily…
Nomad Foods Q4 2023 Earnings Preview Source link
Euro (EUR/USD, EUR/JPY) AnalysisEUR/USD shows signs of bullish fatigue after respecting dynamic resistanceRecent euro positioning accumulates on the short side but longs look unfazedEUR/JPY seeing signs of consolidation ahead of resistance but the yen remains vulnerableThe 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 EUR/USD EUR/USD Showing Signs of Bullish FatigueEUR/USD has taken advantage of the hawkish repricing in the dollar after markets realigned their rate cut expectations with the Fed. Not too long ago, markets were pricing…
© Reuters. On Wednesday, Boston Beer Company (NYSE:) experienced a downgrade in its stock rating by a CFRA analyst from Hold to Sell. The analyst also reduced the price target for the company’s shares to $275 from the previous $350. This adjustment reflects a new 12-month target price based on a forward price-to-earnings (P/E) ratio of 27 times, which is a decrease from the 10-year average forward P/E of 38.8 times. The revision is attributed to anticipated weaker growth and a lack of significant momentum drivers for the company. The downgrade follows Boston Beer’s fourth-quarter earnings report, which showed a…