Author: FX

Olemedia/E+ via Getty Images Albemarle (NYSE:ALB), the world’s biggest lithium producer, reduced its 2030 demand forecast for the crucial battery ingredient as the shift to electric vehicles in the U.S. and Europe is moving slower than expected. Albemarle (ALB) forecast 3.3 million tonnes of lithium carbon equivalent to be needed globally by 2030, a 10% cut from its previous forecast of 3.7 million tonnes, according to a Financial Times report on Friday, which cited an interview with Eric Norris, Albemarle’s president of lithium. Norris told the FT the lithium producer is cutting its forecast as car manufacturers are delaying the…

By Deborah Bloom PORTLAND, Oregon (Reuters) – It’s a common sight on the streets of downtown Portland, Oregon: people in front of stores, trendy restaurants and hotels, on sidewalks, corners, and benches, crouched over torch lighters held up to sheets of tinfoil or meth pipes. Some drape blankets over their heads, or duck behind concrete barriers. Others don’t try to hide. “All summer long, we were right out in the open. You didn’t have to be paranoid anymore, you didn’t have to be worried about the cops,” said John Hood, a 61-year-old drug addict living on the streets of Oregon’s…

Markets Week Ahead: US Indices, Gold Recover Losses After US Inflation FearsInflation in the US remains sticky at both producer and consumer level but US indices are seemingly ignoring these price pressures and remain near recent multi-year highs.US inflation releases this week helped push US Treasury yields, and the greenback, higher this week as financial markets continue to re-price US rate cut expectations. Both US CPI and PPI data came in above forecast, pushing the US dollar higher, while US indices took a hit early in the week. The moves were mostly reversed later in the week to leave most…

Mon: Swedish CPIF (Jan), Canadian Producer Prices (Jan), Holiday: US (President’s Day) , EU Red Sea Policing StrategyTue: PBoC LPR, RBA Minutes (Feb), EZ Current Account (Dec), Canadian CPI (Jan)Wed: FOMC Minutes (Jan), UK PSNB (Jan), South African CPI (Jan), EZ Flash Consumer Confidence (Feb), New Zealand Trade (Jan), Australian Flash PMIs (Feb)Thu: CBRT Policy Announcement, EZ Final HICP (Jan), ECB Minutes (Jan) EZ, UK & US Flash PMIs (Jan), Canadian Retail Sales (Dec)Fri: Eurogroup Meeting, German Detailed GDP (Q4), Ifo (Feb), Import Prices (Jan), EZ M3 (Jan), UK CBI Trends (Feb), Holiday: JapanNote: Previews are listed in day orderEU…

© Reuters. FILE PHOTO: Lufthansa planes are seen parked at Frankfurt Airport, Germany, June 25, 2020. REUTERS/Kai Pfaffenbach/File Photo BERLIN (Reuters) -Ground staff at German airline Lufthansa () will go on strike on Tuesday, the Verdi union said on Sunday, announcing the latest industrial action to hit Germany’s transport sector as workers demand more pay. The strike is scheduled to start at 4 a.m. (0300 GMT) on Tuesday and finish at 7.10 a.m. (0610 GMT) on Wednesday, the union said. The airports affected are Frankfurt, Munich, Hamburg, Berlin, Duesseldorf, Cologne and Stuttgart. Michael Niggemann, the Lufthansa executive board member responsible…

UPCOMING EVENTS:Monday: US/Canada Holiday, Canada PPI.Tuesday: RBA Meeting Minutes, PBoC LPR, Canada CPI, New Zealand PPI.Wednesday: Australia Wage data, FOMC Meeting Minutes.Thursday: Australia/Japan/Eurozone/UK/US Flash PMIs, ECB Minutes, Canada Retail Sales, US Jobless Claims, New Zealand Retail Sales. Friday: Japan Holiday, German IFO.TuesdayThe PBoC is expected to keep the LPR rates unchanged at 3.45% for the 1-year and 4.20% for the 5-year. The MLF decision is generally a precursor for the LPR change and the PBoC decided to keep the rate unchanged at 2.50% on Sunday. The central bank surprised recently by cutting the RRR by 50bps vs. 25 bps expected…

Warning: TSCDY is at high risk of cutting its dividend Source link

© Reuters. FILE PHOTO: Brigadier General Esmail Qaani, the head of the Revolutionary Guards’ Quds Force, speaks during a ceremony marking the anniversary of the death of senior Iranian military commander Mohammad Hejazi, in Tehran, Iran April 14, 2022. Majid Asgarip By Ahmed Rasheed, Parisa Hafezi and Timour Azhari BAGHDAD (Reuters) – A visit by the commander of Iran’s elite Quds Force to Baghdad has led to a pause in attacks on U.S. troops by Iran-aligned groups in Iraq, multiple Iranian and Iraqi sources told Reuters, saying it was a sign Tehran wants to prevent a broader conflict.     Esmail…

Most Read: USD/JPY Gains on Hot US PPI but FX Intervention Chatter May Cap UpsideEarlier this year, the market consensus indicated the Federal Reserve would deliver about 160 basis points of easing in 2024. However, these dovish expectations have been dialed back this month following stronger-than-forecast U.S. jobs growth and sticky inflation data, with traders now anticipating only 80 basis points of rate cuts for the year.The recent repricing of the Fed’s policy outlook has boosted the U.S. dollar across the board, propelling the DXY index up by about 1.8% in the last three weeks. While gains may not unfold…

China’s central bank, the People’s Bank of China, left its Medium-term Lending Facility (MLF) rate unchanged at 2.5% on Sunday. Surveys had shown around two thirds of analysts had expected the rate to be unchanged, others expecting a small cut. 500 billion yuan will be injected as one-year loans499 bn yuan mature, which means a net injection of 1 bn yuanIn Open Marker Operations the Bank injected 105bn yuanNo signs of monetary policy relief from China in this today. The most recent easing from the PBOC was the Reserve Requirement Ratio (RRR) earlier this month:The People’s Bank of China —What…