Author: FX
mixmotive/iStock Editorial via Getty Images Skydance Media, which agreed to a deal to purchase Paramount Global last month, is accusing the media company of breaching the terms of its deal by extending the time it has to engage with other bidders. “While Skydance is not currently exercising its right to terminate the Transaction Agreement, we reserve the right to do so in the future,” Skydance’s attorneys wrote in a letter that was sent on Thursday, according to a WSJ report. Paramount (NASDAQ:PARA) reportedly on Wednesday extended the “go shop”period to solicit other offers after it was originally expected to expire…
AI imageFriday at 10 am ET, Federal Reserve Chairman Jerome Powell will deliver his highly-anticipated annual speech at Jackson Hole in Wyoming.Current market pricing has been shifting away from 50 basis points; though retaining a high probability of 50 bps before the year is done. For the Sept meeting, the market sees a 75% chance of 25 bps with the remainder at 50 bps. For year end there are 97 bps of easing priced in and for this time next year there are 194 bps priced in (that’s 8 meetings so almost 25 bps at each).Throughout his tenure, Powell has…
Mexican Peso extends losses, pressured by inflation still above Banxico’s 2-4% goal despite recent declines. Economic data shows deceleration in Mexico’s GDP, hinting at potential for further rate adjustments by Banxico. US Dollar strengthens amid strong labor market data and Fed officials signaling potential rate cuts in September. The Mexican Peso prolonged its agony and extended its losses to four straight days against the Greenback after data showed that inflation is coming down; but it remains above the Bank of Mexico’s (Banxico) 2 to 4% goal. The US Dollar appreciates against most currencies amid mixed economic data, yet the USD/MXN…
Oli Scarff/Getty Images News BP (NYSE:BP) shares have been bumping along near two-year lows this month, which may put pressure on new CEO Murray Auchincloss to retreat from a strategy of shifting away from oil and gas, Bloomberg reported Thursday. BP (BP) “pivoted hard toward the energy transition under Bernard Looney around the time of maximum interest in green energy solutions and very low interest rates,” Berenberg analyst Henry Tarr told Bloomberg, but commodity prices have since recovered, “making the legacy upstream business seem more attractive, while higher interest rates and more competition has left some low-carbon businesses looking less…
You’ve been educating traders for over a decade. What is the most prevalent misconception or recurring mistake you’ve seen by traders?The most prevalent misconception we’ve observed at FX Evolution is the belief that trading success hinges solely on finding the “perfect” strategy. While having a solid strategy is essential, many traders overlook the importance of risk management and emotional discipline. The recurring mistake is that traders often get caught up in the excitement of potential profits and forget that consistent, long-term success is more about managing losses and sticking to a well-structured plan.What is the most significant tool or technology…
Initial Jobless Claims rose by 232K vs. the previous week. Continuing Jobless Claims rose by 1.863M. US citizens that applied for unemployment insurance benefits increased by 232K in the week ending August 17 according to the US Department of Labor (DoL) on Thursday. The prints came in a tad above initial consensus (230K) and were higher than the previous weekly gain of 228K (revised from 227K). In addition, Continuing Claims increased by 4K to 1.863M in the week ended August 10. Market reaction The US Dollar Index (DXY) extends its daily recovery from Wednesday’s 2024 lows and retests the 101.40…
CSG Systems International declares $0.30 dividend Source link
The push higher yesterday sees the pair break its high for the year and solidifies a firm break above the 1.3000 mark this week. That now brings into focus the 2023 high as cable goes in search of a potential breakout to its highest since 2022.GBP/USD weekly chartThe music sheet in the chart above is reminiscent of what we’re seeing in EUR/USD here.GBP/USD had previously lingered at levels in between its 100 (red line) and 200-week (blue line) moving averages this year before a pop back above 1.3000 last month. That failed to hold but buyers are finding renewed vigour…
Gold prices fell in Pakistan on Thursday, according to data compiled by FXStreet. The price for Gold stood at 22,446.97 Pakistani Rupees (PKR) per gram, down compared with the PKR 22,526.60 it cost on Wednesday. The price for Gold decreased to PKR 261,825.50 per tola from PKR 262,745.80 per tola a day earlier. Unit measure Gold Price in PKR 1 Gram 22,446.97 10 Grams 224,476.90 Tola 261,825.50 Troy Ounce 698,179.50 FXStreet calculates Gold prices in Pakistan by adapting international prices (USD/PKR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the…
USD/CAD is poppin’ up red candlesticks just below a key technical support area! Are we looking at a breakout in the making? Or are dollar bulls about to stomp in and say, “Not today, bears!”? USD/CAD Daily Forex Chart by TradingView The U.S. dollar is down bad in August, thanks to U.S. data releases and FOMC member speeches supporting expectations of a Fed rate cut by September. However, at least some traders are now taking in weak U.S. economic reports and reading “slower global growth” and reduced risk appetite. The Canadian dollar, in particular, could also have trouble finding fresh…