Author: FX
Share: Bank of Mexico’s monetary policy decision is due out today. Will the Banxico signal a turnaround? Economists at Commerzbank analyze how the Mexican Peso (MXN) could react to Banxico’s announcement. Banxico is likely to take a wait-and-see approach Banxico is likely to take a wait-and-see approach today. After all, it is unlikely that it would have delayed the first rate cut for all these months to bring inflation under control in the long term and then initiate a turnaround at a time when the overall rate is rising again. Even if this is not a general exclusion,…
Shares of Digital Turbine (NASDAQ:APPS) tanked -14.29% to $4.32 in premarket trading on Thursday after the mobile software company missed estimates and issued light guidance in its fiscal third-quarter earnings report. Digital Turbine (APPS) forecast full-year fiscal 2024 revenue in the range of $547 million and $553 million vs consensus estimate of $572.47 million, and non-GAAP adjusted EPS of between $0.50 and $0.54, which also fell short of the Street’s $0.61 forecast. “Weaker U.S. device upgrade rates and temporary platform consolidation factors represent near-term headwinds,” CEO Bill Stone said in a statement. While the company has seen demand and advertisers…
USD/JPY News and Analysis Recommended by Richard Snow Get Your Free JPY Forecast Senior BoJ Official Reaffirms Cautious Approach in the Lead up to NormalisationComments from the Bank of Japan’s Deputy Governor Shinichi Uchida has softened the yen on Thursday morning as the senior official issued a glimpse into the thinking of the policy setting committee. Uchida essentially confirmed that the Bank would revise its stimulus measures if the price goal of 2% is met sustainably and remains stable – one of the two thresholds that need to be met before officials can think about raising interest rates.He went on…
3/3 © Reuters. A volcano spews lava and smoke as it erupts on Reykjanes Peninsula, Iceland, February 8, 2024. Iceland Civil Protection/Handout via REUTERS 2/3 By Stine Jacobsen and Terje Solsvik COPENHAGEN (Reuters) -A volcano in Iceland erupted on Thursday for the second time this year, spewing lava up to 80 metres into the air in what is the sixth outbreak on the southwestern Reykjanes peninsula since 2021. Live video from the area showed fountains of bright-orange molten rock spewing from fissures in the ground, in sharp contrast to the still-dark night sky. “Warning: A volcanic eruption started north of…
The U.S. initial jobless claims report tends to spur strong intraday moves for dollar pairs lately. Can this classic pullback setup on EURUSD play out? I’m seeing a simple correction play to a short-term falling trend line and Fib levels that might keep gains in check. EUR/USD 1-hour Forex Chart by TradingView Uncle Sam’s upcoming initial jobless claims report is slated to show a slightly slower increase in unemployment of 221K versus the earlier 224K increase. Now this weekly release tends to spur strong intraday reactions from dollar pairs, especially if the actual figures post a significant upside or downside…
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GBP/CHF shot up earlier this week! In case you missed it, the Swiss franc is slated to be one of the weakest currencies this week. There are no direct catalysts, but there are talks of currency intervention after the Swiss National Bank (SNB) reported higher foreign currency reserves in January. Meanwhile, the British pound is being lowkey supported by a risk-friendly trading environment and upside surprises from the U.K.’s lower-tier data releases this week. Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your fundie homework on the British…
Share: Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Thursday, the “future rate path depends on economic and price developments at the time.” Additional quotes Focus ahead would be pace of increase in inflation expectations, degree of price dynamism including wages. We wil first determine whether conditions have fallen into place to shift policy, then consider most appropriate means, sequence to do so. Just because we terminate YCC, that doesn’t mean we will suddenly stop bond buying. Whether we will keep expanding our balance sheet, or hold off on scaling it back, when we roll back massive…
© Reuters. In the fiscal third quarter 2024 earnings call, Kyndryl’s Chairman and CEO, Martin Schroeter, provided an optimistic outlook for the company despite a 10% revenue decline. Kyndryl (ticker: KD) is experiencing a shift in its revenue mix towards higher-margin services, with an intentional move away from low-margin revenue streams. This strategy is expected to lead to a return to revenue growth by calendar 2025. The company’s earnings are projected to be significantly higher than the previous year, and it has set a target of achieving high single-digit adjusted pretax margins by fiscal 2027. Kyndryl’s strategic initiatives, such as…
Japan’s biggest commercial banks have allowed excess funds to languish in negative interest-rate accounts at the Bank of Japan in December at the most since the introduction of the zub0zero policy in 2016When the policy was first introduced funds flowed elsewhere, a policy intention of the BOJ. Banks that had been reluctant to hold negative interest-rate balances “seem to be changing their minds because if a policy exit is near, there is no need to forcefully invest funds to eliminate balances,” said Naomi Muguruma, chief fixed-income strategist at Mitsubishi UFJ Morgan Stanley Securities Co. “Another sign that sub-zero rate policy…