Author: FX
By Allison Lampert, David Ljunggren and Anna Mehler Paperny MONTREAL/OTTAWA (Reuters) -The union representing over 9,000 Canadian rail workers vowed on Friday to challenge the federal government’s effort to mandate binding arbitration that would end an unprecedented rail stoppage at both of the country’s main freight rail carriers. The Teamsters union also filed notice to strike on Monday at Canadian National Railway (TSX:), Canada’s largest railway. The union’s moves are the latest twist in labor disputes at CN and Canadian Pacific (NYSE:) Kansas City, which locked out Teamsters members on Thursday, triggering a simultaneous rail stoppage that business groups said…
Roman Didkivskyi Siemens Healthineers (OTCPK:SEMHF) is looking to pay more than €200M ($224M) to acquire a Novartis (NYSE:NVS) business focused on producing radioactive chemicals for cancer scans, The Financial Times reported Saturday, citing people familiar with the matter. The transaction for the diagnostic arm of Advanced Accelerator Applications, which Novartis (NVS) acquired in 2017, is expected to close in Q4 2024, pending regulatory reviews and discussions with Novartis’ (OTCPK:NVSEF) works council. AAA runs Europe’s second-largest network of cyclotrons, which are used to manufacture radioactive compounds that help in cancer detection through positron emission tomography (PET) scans. Siemens Healthineers (OTCPK:SMMNY) said…
By Tom Sims and Rene Wagner FRANKFURT (Reuters) -Police hunted on Saturday for an unknown assailant hours after he killed three people and wounded others in a stabbing attack at a festival in the western German city of Solingen. Eight were injured, five of them seriously, the police said in a statement early on Saturday. That was up from the four serious injuries the police reported earlier. “Both victims and witnesses are currently being questioned. The police are currently searching for the perpetrator with a large team,” police said. The incident occurred around 9:40 p.m. (1940 GMT) on Friday, when…
IMF chief economist Pierre-Olivier Gourinchas spoke in an interview with Reuters at the Jackson Hole annual economic symposium on Friday. Saud the BoJ can continue to raise rates gradually, a ‘data dependent’ pace: inflation is higher than the Bank’s 2% targetinflation expectations have started to move “maybe even a little bit above” that targetBOJ’s beginning to normalise monetary policy is “certainly something that we think is a good development for Japan” Gourinchas also weighed in with his two cents on the market volatility:”I think the market overreacted,” “… we could see other episodes of market volatility” due to rate cuts…
In the world of trading, consolidation phases are like those quiet moments in the auction house. Prices tend to trade within a defined range, often marked by support and resistance levels. This can happen for various reasons, such as traders waiting for fresh economic data or a major news event before making their next move. But here’s the exciting part: consolidation isn’t just a lull in the action. It’s a valuable piece of information for traders. Why? Because these phases can often precede significant price movements, either a breakout (price sharply moving above resistance) or a breakdown (price falling below…
This candlestick pattern, distinguished by its long tail or shadow and small body, offers traders a clear glimpse into market sentiment and potential price movements. Pin Bars reflect critical moments in the market where there’s significant price rejection or indecision. Traders look for these formations at key support and resistance levels as they often indicate potential reversals or continuations in price trends. Mastering the art of identifying and interpreting Pin Bars can provide traders with a valuable edge in anticipating market shifts and making informed trading decisions. These candlesticks are like snapshots of market psychology, capturing the struggle between buyers…
While most market players were zoned in on the FOMC minutes and expectations for Powell’s testimony during the Jackson Hole Symposium, commodities like gold and crude oil also responded to their own set of catalysts. Geopolitical headlines and global growth concerns dragged the energy commodity mostly lower during the first half of the week while the precious metal managed to hit record highs. How did the rest of the asset classes react to top-tier developments? Check out this week’s market headlines. This Article Is For Premium Members Only Become a Premium member for full website access, plus get:…
September rate hike odds were the talk of the forex town, creating a sour week for the Greenback, but there were other stories in FX to mix up the price action this week. Source link
Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to 3.80%, supporting bullion’s rise, as market eyes the August Nonfarm Payrolls report for further guidance. Gold price edges up over 1% on Friday as the Greenback and US Treasury bond yields dive following dovish remarks from Federal Reserve Chair Jerome Powell, who signaled he’s confident…
Mexican Peso rallies sharply with USD/MXN falling over 2%. Mexico’s economy shows mixed signals, with Q2 GDP growth at 2.1% YoY but a contraction in economic activity, as Banxico debates the appropriateness of recent rate cuts. Powell’s speech at Jackson Hole hints at upcoming rate cuts. The Mexican Peso rallied sharply against the Greenback on Friday after Federal Reserve (Fed) Chair Jerome Powell announced that the central bank is ready to begin its easing cycle. This undermined the US Dollar, which is tumbling to a new yearly low, according to the US Dollar Index (DXY). Therefore, the USD/MXN collapses over…