Author: FX
Stronger-than-expected labor market numbers from New Zealand helped drag EUR/NZD much lower today. Will this lead to the pair finally breaking below its uptrend pattern? In case you missed it, New Zealand’s labor market numbers showed the unemployment rate rising from 3.9% to 4.0% in Q4 2023. Luckily for NZD bulls, employment also grew by 0.4% (from a 0.1% dip in Q3) and wage growth accelerated from 0.8% to 1.0% for the period. Meanwhile, the euro didn’t get much support from relatively better-than-expected Euro Area PMI releases yesterday. Remember that directional biases and volatility conditions in market price are typically…
4/4 © Reuters. A person walk along a pier as an atmospheric river of rain continues to impact the weather in Oceanside, California, U.S., February 6, 2024. REUTERS/Mike Blake 2/4 By Steve Gorman and Jane Ross LOS ANGELES (Reuters) -A deadly atmospheric river storm lingered over Southern California for a third day on Tuesday, soaking the region with rains that threatened to trigger more flooding and mudslides as the weather system crept toward the Desert Southwest. After a day of record-breaking rainfall across the region, a flood watch for Los Angeles County was extended until early Wednesday. A flash-flood warning…
It’s been over two weeks since the first reports that China was mulling a 2 trillion yuan package to stabilize stock markets and we’re now only two-and-a-half days until the Chinese new year holiday break. The market has been patient because of other signs that help is coming but Beijing will ultimately have to load up the bazooka and deliver.At this point, a failure to offer some kind of rescue would be a middle finger to the stock market. And given the re-commitment to “socialism with Chinese characteristics” for Xi, it might be the final straw.For now though, the market…
Share: PLTR garners 31% surge on back of terrific Q4 results. Palantir grew US commercial revenue by 70% YoY. Margins expand as revenue gains 20% from a year ago. Management raises full-year sales guidance. Palantir (PLTR) stock appears to have turned a corner. On Tuesday it is worth nearly one-third more than it was on Monday after the big data firm shot up following successful fourth-quarter earnings results. PLTR stock closed up 30.8% at $21.87 following a slam dunk of an earnings release late Monday. Shares gave up less than 1% afterhours. This performance was the best PLTR…
NiseriN/iStock via Getty Images The Exxon Mobil-led (NYSE:XOM) consortium in Guyana is pumping 645K bbl/day in the country, up from ~400K bbl/day in late 2023, the company said Tuesday. Exxon (XOM) said all three currently operational platforms are producing above their initially estimated capacities, with Liza Destiny, Liza Unity and Prosperity now pumping 160K bbl/day, 250K bbl/day and 230K bbl/day, respectively. The consortium, which includes Hess (HES) and China’s Cnooc, has said its fourth, fifth and sixth oil projects – Yellowtail, Uaru and Whiptail – would have production capacity of ~250K bbl/day each, bringing Guyana’s total oil output past 1.2M…
onurdongel/E+ via Getty Images U.S. natural gas futures settled just above the $2 level to a fresh nine-month low on Tuesday, as warm weather forecasts point to lower near-term demand than previously expected, prompting concerns about inventory surpluses. According to Reuters, traders said production was rising as gas wells continue to return to service after last month’s extreme cold, while LNG feedgas remained low due mostly to an ongoing unit outage at Freeport LNG’s export plant in Texas. “March ’24 prices tested $2 several times in recent sessions but are so far holding above it today, albeit barely,” NatGasWeather.com said.…
© Reuters. FILE PHOTO: A Ford logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David ‘Dee’ Delgado/File Photo By Joseph White and Nathan Gomes DETROIT (Reuters) -Ford Motor said on Tuesday it will return more cash to shareholders, starting with an extra 18 cents-per-share dividend in the first quarter, joining General Motors (NYSE:) in giving investors more of the cash spinning from North American combustion trucks. Ford (NYSE:) shares were up 6.5% in after-hours trading after gaining 4.1% during the regular session. The automaker forecast $10 billion to $12…
In New Zealand today, the key quarterly employment statistics will be released expectations at the unemployment rate is expected to rise to 4.3% from 3.9%. The labor cost index is expected to rise also by 0.8% versus 0.8% last month.Technically, the price of the NZDUSD is “hanging around” some key/important technical levels. On the tops, the 200-day moving average comes in at 0.60856. A break above that level would disappoint the sellers this week who traded the break lower below that moving average and below the 100-day moving average as well. The 100-bar moving average of the 4-hour chart comes…
Share: Mexican Peso gains, driven by a soft US Dollar due to lower US Treasury yields. Market anticipates Consumer Confidence, auto data and Banxico’s rate decision. Powell’s rate cut remarks prompt cautious trading; speeches by Fed’s Mester, Kashkari, Collins in focus. The Mexican Peso (MXN) advanced against the US Dollar (USD) in early trading during the North American session as US Treasury bond yields edged lower, a headwind for the Greenback. A risk-on impulse, as witnessed by Wall Street posting gains, is a tailwind for the Mexican currency. Traders await inflation figures and the Bank of Mexico (Banxico)…
Canada is printing its January labour market data on a non-U.S. NFP day! Will this lead to CAD reacting more directly to the report? What are market players expecting from the event anyway? Check out these important points if you’re planning on trading the event: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link