Author: FX
The dollar and fixed income market have been quick to shrug off the PPI data. The euro is now back to pre-PPI levels and the front end of the yield curve is as well with US 2s at 4.65% from a high of 4.72%.EURUSD 10 minsBefore the PPI data, I highlighted why I thought seasonal adjustments made for a fade trade and that’s exactly what unfolded.I would be careful from here with Bostic and Daly still set to speak. The market is feeling sanguine about high inflation and a hawkish comment from either (particularly Daly) could be a dagger. Source…
Share: Economists at Société Général analyze how the USD/CAD pair reacted to past Federal Reserve rate decisions and discuss if it could repeat the same performance this time. USD/CAD peaked above 1.3600 after the Fed ended hiking cycle in December 2018 The USD/CAD pair peaked above 1.3600 just after the end of the last Fed hiking cycle in December 2018. The US Dollar traded down to Canadian Dollar at 1.2600 as the Fed eased in 2019. A repeat is possible. See: USD/CAD to drop towards 1.2800 by year-end – Scotiabank Source link
Gold (XAU/USD) Analysis and ChartUS PPI comes in hotter-than-expectedRetail sales missed market expectations and turned negative in January.Gold is correcting higher after being technically oversold. Recommended by Nick Cawley How to Trade Gold Recently released US producer price inflation data has pushed the price of gold back below $2,000/oz. and raised expectations that next month’s US consumer price inflation may also move higher. Month-on-month PPI in January rose by 0.3%, compared to forecasts of 0.1% and December’s reading of -0.1%.US retail sales data disappointed the market yesterday, turning negative and missing market forecasts by a margin. The January number 0f…
JHVEPhoto/iStock Editorial via Getty Images Morgan Stanley is not worried about Eli Lilly’s (NYSE:LLY) potential to generate further upside even after its recent rally, as the investment bank asked in a research note on Friday whether the weight-loss drugmaker could be the first to join the $1T club. Fueled by strong demand for its diabetes and weight loss drugs, Mounjaro and Zepbound, Indianapolis, Indiana-based Eli Lilly (LLY) has more than doubled in value over the past 12 months, with its market capitalization exceeding $719B, ahead of Tesla (TSLA). “Could Lilly be the first $1 trillion biopharma stock?” Morgan Stanley analyst…
FTSE 100, Dow Jones, Dax 40 Analysis and ChartsFTSE 100 reboundsThe index has enjoyed two days of gains, recouping the losses suffered on Tuesday.Further gains target the 7700 high from early January, before moving on to the late December high at 7750. Having established a higher low this week, the bullish view begins to regain some strength, after a mixed performance in January and February.A close back below 7540 and the 200-day simple moving average (SMA) would mark a more bearish development.FTSE 100 Daily ChartSee the latest daily and weekly changes in FTSE 100 client sentiment of clients are net…
© Reuters. Kadant Inc . (NYSE:) has reported a strong financial performance for the fourth quarter of 2023, with a 3% increase in revenue and an adjusted EPS growth of 9% year-over-year. The company announced a record-setting year with a full-year adjusted EPS of $10.04 and an adjusted EBITDA of $201M. Despite a revenue decline in the Flow Control segment and a softening in core markets for the Industrial Processing segment, the Material Handling segment saw a 27% revenue increase and a record adjusted EBITDA margin. Looking ahead, Kadant expects the demand in 2024 to mirror that of 2023 and…
Nvidia Earnings AnalysisKey takeaways1. NVIDIA’s fourth-quarter results for fiscal year 2024 will be reported on February 21, 2024.2. NVIDIA’s stock has been performing well, with a significant increase of nearly 50% year to date. This growth is driven by the increasing demand for AI technology, and the company has received optimistic price target upgrades from institutions like Goldman Sachs and Bank of America.3. Analyst estimates for NVIDIA’s Q4 2024 results suggest a total revenue of $20.322 billion, and earnings per share of $4.55.4. NVIDIA’s shares are currently trading at a premium compared to the average price targets set by analysts.…
Cocoa is currently experiencing unprecedented popularity, reaching an all-time high in price on the New York exchange, hitting the $5800 mark by mid-February. The price gained more than 30%, which is an all-time high. Let’s delve into the factors driving this surge in the cocoa market and explore its potential impacts on both markets and daily life.To begin, let’s take a look at the chart demonstrating cocoa price movements since the beginning of 2024. The line is pretty straight. Additionally, as judged by the volume indicator, the volume points are also high.Over 30% since the start of the year is…
Pound Sterling (GBP/USD) AnalysisUK retail sales rose an impressive 3.4% to overcome December’s 3.3% declineGBP/USD unphased by the report after a busy week, filled with dataFed speakers, US PPI and the University of Michigan consumer sentiment report up nextThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryUK retail sales rose an impressive 3.4% in January, recovering December’s surprising drop of 3.3%. The dismal December print was chalked up to Christmas gifts being bought during the Black Friday discounts in November and partially due to plans…
Share: The strength in the Dollar pushed USD/JPY back above 150.00. Economists at UBS analyze Yen’s (JPY) outlook. The current entry point to buy the Yen is attractive We think the BoJ’s policy normalization remains on track this year on strong wage hike negotiations and corporate profitability. We maintain the view that the Japanese Yen has likely reached a turning point after significant underperformance between 2021 and 2023. With the US-Japan 10-year yield differentials expected to narrow as the year progresses, we think the current entry point to buy the Yen is attractive. Source link