Author: FX
The latest from Deutsche Bank on the Bank of Japan and JPY. Analysts at the bank are not expecting much of a rally for the yen.They say that they see little reason for the Bank of Japan to tighten its monetary policy aggressively and as such little tailwind for the JPY on this front. It would need a more assertive rate hike cycle to prompt an unwind of the yen carry trade.DB add that on the other side of the ledger, the yen is unlikely to rise much without a US recession (and consequently lower rates in the US). Source…
Share: LYFT stock gains over 30% on Wednesday following margin expansion snafu. Management said adjusted EBITDA would expand by 50, not 500, basis points in 2024. Earnings and revenue outpaced consensus for the fourth quarter. Net income losses greatly plunged from a year ago for the rideshare company. Don’t let anyone tell you that mistakes can’t sometimes improve a situation. Lyft (LYFT) stock, the rideshare competitor to Uber (UBER), has benefited dramatically on Wednesday from a typo in its fourth-quarter earnings results. At the time of writing on Wednesday, Lyft stock has accelerated by 35% to $16.35, while…
alengo/E+ via Getty Images EnerSys (NYSE:ENS) said Wednesday it selected Greenville, South Carolina, as the site for a planned lithium-ion cell gigafactory to advance battery production; trading was halted ahead of the announcement. EnerSys (ENS) said it has applied for a comprehensive incentive package valued at ~$200M, including a combination of short-term and long-term incentives, and plans to use part of the proceeds, along with Inflation Reduction Act tax benefits and potential additional federal funding, to make a $500M investment in the project. The operation, which would be the company’s second in South Carolina, would manufacture various form factors of…
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US DOLLAR FORECAST – EUR/USD, USD/CADThe U.S. dollar pauses after Tuesday’s strong rally, with the DXY index moving up and down around the flatlineThe absence of follow-through to the upside doesn’t necessarily signal a loss of conviction in the bullish outlookThis article examines the near-term technical outlook for two key pairs: EUR/USD and USD/CAD Recommended by Diego Colman Building Confidence in Trading Most Read: Gold Price, Nasdaq 100, EUR/USD – What Comes Next After US CPI Data?Following Tuesday’s solid performance, the U.S. dollar showed signs of indecision on Wednesday, moving between small gains and losses, but ultimately not going anywhere,…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Japanese Yen (USD/JPY, GBP/JPY, EUR/JPY) AnalysisJapan’s top currency official mentions FX intervention in response to yen weaknessUSD/JPY tentative above the crucial 150 markGBP/JPY breakout already struggling for momentumEUR/JPY tests zone of resistance but both currenciesThe 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 USD/JPY Japan’s Top Currency Official Mentions FX Intervention in Response to Yen WeaknessLate last night and in the early hours of this morning, Japanese officials attempted to come to the yen’s defence, but stern warnings…
Share: While testifying before the UK Economic Affairs Committee on Wednesday, Bank of England (BoE) Governor Andrew Bailey called the latest inflation data “good news” and noted that it showed more downward pressure than they expected. Key takeaways “Downward pressure on inflation is quite broad-based.” “Overall inflation data leaves us broadly where we expected to be.” “This week’s data does not really change our view from February policy decision.” “We have moved from how restrictive policy needs to be to for how long we need to maintain policy stance.” “Services inflation is not compatible with 2% inflation.” “We are…
The Bitcoin Halving Event is Due in mid-April – What Does this Mean?Bitcoin halving is a scheduled event that occurs approximately every four years, or after 210,000 blocks have been mined. During this event, the reward for mining new blocks is halved, meaning miners receive 50% fewer bitcoins for verifying transactions. Halving is hard-wired into the Bitcoin protocol to ensure that the total supply of Bitcoin is capped at 21 million, thereby introducing scarcity into the ecosystem. The next Bitcoin halving event is expected in mid-April this year.Bitcoin mining is a critical process that underpins the functionality and security of…
© Reuters Investing.com — Shares in Airbnb fell in premarket U.S. trading on Wednesday after the travel accommodation app flagged that it would see a slowing in booking rates in its current quarter. In a letter to shareholders, the company said that a tough year-on-year comparison would impact the growth rate of nights booked in its first quarter compared to its prior three-month period. The average day rate, or ADR, which measures how much hosts charge guests per day, is also expected to be flat. Revenue growth is subsequently seen decelerating to between 12% to 14%, down from a 17% increase…