Author: FX
© Reuters. On Tuesday, AutoZone Inc. (NYSE: NYSE:) received a price target increase from CFRA, with the new target set at $3,200, up from the previous $3,000, while the firm maintained a Buy rating on the stock. The adjustment follows AutoZone’s impressive fiscal second-quarter earnings report, which surpassed analysts’ expectations, particularly due to robust margins and international sales growth. CFRA’s revised price target is based on an anticipated price-to-earnings (P/E) ratio of 19.0x for fiscal year (FY) 2025, which ends in August. This represents a premium over AutoZone’s five-year mean forward P/E of 17.8x. The firm justifies this higher valuation…
US DOLLAR FORECAST – EUR/USD & GBP/USDThe U.S. dollar lacks directional conviction amid market caution ahead of a high-impact event on the U.S. calendar later this weekThursday’s core PCE data release will seize investors’ focusThis article carefully examines the technical outlook for EUR/USD and GBP/USD Recommended by Diego Colman Get Your Free Top Trading Opportunities Forecast Most Read: Gold Price Forecast – Confluence Resistance Stifles Bulls, Focus Shifts to US PCEThe U.S. dollar was largely flat on Tuesday, moving between small gains and losses, but displaying limited volatility in a context of mixed U.S. Treasury yields. Traders appeared to exercise…
US consumer confidencePrior was 114.8 (revised to 110.9)Details:Present situation index 147.2 vs 161.3 priorExpectations 79.8 vs 83.8 prior1 year Inflation 5.2% vs 5.2% prior Jobs hard-to-get vs 9.8 priorThe report notes fewer concerns about inflation but more worries about jobs and the political situation. The one-year inflation continues to tick down but it’s still a full point about where it was pre-pandemic.Overall, there haven’t been many weak US economic indicators so far in 2024 so this is a surprise. It’s also a good forward-looking indicator in general but consumer confidence numbers can be skewed by politics so it could be…
Share: The US Dollar Index (DXY) is up 2.4% since January on repricing of Fed cuts from six to three. Economists at Société Générale analyze Greenback’s outlook. Headline +0.3%, Core +0.4% PCE inflation is the next signpost on Thursday. We forecast headline +0.3% (2.4% YoY) and Core +0.4% (2.8% YoY). The spotlight will be on Core services after the 0.8% MoM spike in equivalent CPI two weeks ago. The repricing of Fed cuts from six to three since January has boosted the DXY by 2.4% over the past eight weeks but doubts over sustained upswing have emerged following…
Synaptics Chief Financial Officer Dean Butler to resign Source link
© Reuters. FILE PHOTO: Customers buy fruits and vegetables at an open air evening market in Ahmedabad, India, August 21, 2023. REUTERS/Amit Dave/File Photo By Manoj Kumar NEW DELHI (Reuters) – India will conduct another survey of household consumption as well as of items and brands at retailers to obtain a comprehensive picture of domestic spending before revising the consumer price index (CPI), two government officials said. Over the weekend, the government released initial findings of the 2022/23 household consumption expenditure survey, the first in over a decade, showing the share of food in household spending had shrunk substantially. The…
Bitcoin (BTC), Ethereum (ETH) Prices, Charts, and Analysis:Bitcoin back at highs last seen in November 2021.Coinbase, Robinhood, MicroStrategy surge on renewed cryptocurrency interest. Recommended by Nick Cawley Get Your Free Introduction To Cryptocurrency Trading Bitcoin continues its strong run higher as ongoing ETF buying and the upcoming halving event in mid-April fuel heavy buying. On January 10th, eleven spot Bitcoin ETFs were approved by the SEC, opening the door to a wide range of customers. Since mid-January one Bitcoin ETF, run by BlackRock, has already seen over $6.6 billion of inflows, helping to send the price of Bitcoin spiraling higher.…
Share: Silver price rises sharply to $22.70 amid weakness in the US Dollar. Easing geopolitical tensions have impacted safe-haven appeal. Sticky US core PCE price index data may postpone Fed’s plans of quitting hawkish stance. Silver price (XAG/USD) recovers sharply to near $22.70 as the US Dollar comes under pressure in the London session on Tuesday. The white metal rises as the US Dollar faces a sell-off due to easing geopolitical tensions. US President Joe Biden is confident of a ceasefire between Israel and Palestine by next week. The US State Department said there has been progress in…
EUR/AUD can’t seem to make new 2024 highs. Will the recent rejection at 1.6625 lead to the pair hitting its range support? I don’t know if you’ve noticed but commodity-related currencies like AUD and NZD did NOT have a strong start this week. Meanwhile, EUR extended its gains as the lack of fresh Fed speakers discouraging interest rate cuts highlighted the European Central Bank’s (ECB) relatively hawkish stance. EUR/AUD, which started the week at the 1.6460 inflection point, flew all the way to the 1.6625 zone. This Article Is For Premium Members Only Become a Premium member…
Timbercreek Financial declares special dividend of C$8.45 Source link