Author: FX
© Reuters. Saia Incorporated (NASDAQ:), a leading transportation company, reported record revenues and shipment numbers in its fourth quarter of 2023, capping off a year of significant growth. The company saw a record $751.1 million in Q4 revenue, an 18.1% increase in shipments, and a record $2.9 billion in annual revenue. The improved operating ratio, which went down to 85% from 85.9% the previous year, reflects enhanced operational efficiency. Looking forward, Saia plans to open 15 to 20 new terminals in 2024 and invest around $1 billion in capital expenditures, including significant investments in real estate, equipment, and IT. Despite…
The week ended with a bang as the US jobs data came much stronger than expectations. Non-farm payroll rose by 353K much higher than the 180K estimate (and the ADP rise of 107K released earlier this week). TUnemployment rate came in at 3.7% versus 3.8% expectedAverage yearly earnings rose by 0.6% versus 0.3% expected MoMAverage yearly earnings rose by 4.5% versus 4.1% expected YoYThe average workweek in hours and fall to 34.1 hours from 34.3 hours last month (that was the estimate too). Looking at the jobs by sectors, Private education and health services led the way with a gain…
Share: The DXY rose by more than 0.80% to 103.90 on Friday US Nonfarm Payrolls came in higher than expected for January. US bond yields are sharply increasing as markets push to May the start of the easing cycle. The US Dollar (USD) rose to 103.90 on Friday’s Dollar Index (DXY) chart, mainly fueled by a promising labor market report that has convinced markets a March rate cut is not in the cards. Fed Chair Powell reinforced the idea that a rate cut in March is unlikely despite ongoing market speculation. In line with that, he stated that…
Share: The NZD/USD showed a strong downward swing, falling near the 0.6060 level. US Nonfarm Payrolls added 353K jobs in January surpassing by a wide margin the expectations. The bets of a rate cut in March sharply declined and markets pushed the start of the easing to May. In Friday’s trading session, the NZD/USD took a steep turn downwards, landing at a rough level of 0.6060. The pronounced downward trajectory resulted from a surprisingly strong US Nonfarm Payrolls report that pushed the pair into bearish domain as markets gave up the hopes of sooner rate cuts by the…
Share: META swings to 20% gain after Q4 earnings beat on Friday. Meta Platforms raised its Q1 guidance range to as much as $37 billion. US Nonfarm Payrolls come in hot for January, reducing chance of March rate cut. Mark Zuckerberg introduces $50 billion buyback policy, $0.50 quarterly dividend. Meta Platforms (META) stock closed up 20.3% on Friday, one penny shy of $475. The mega cap social media giant saw its stock bounce like a small-cap after it posted a surge of advertising revenue for Q4 and announced a new dividend on top of a $50 billion buyback scheme. Meta…
USD was front & center as traders repriced Fed interest rate expectations, & ultimately took the top spot thanks to a blockbuster employment update! Source link
It sucks to be Amazon and have to take a backseat when your stock soars by 7.67% on the day. However, it was Meta and Mark Zuckerberg’s day to roar, and roar they did. Share’s of Meta moved up $80.21 or 20.32% after beating expectations, announcing a first ever dividend, and announcing a $50B buyback of shares. Meta and Zuckerberg roarOverall, all the major indices moved higher and all three closed higher for the week as well. It is the 4th week in a row higher after starting the year with a sharp fall. The S&P index in the Dow…
Share: EUR/JPY rises to 160.07 amid risk-on mood, US equity gains, surpassing key 160.00 mark. Technical outlook hints at further rise, aiming for January 19 high at 161.81, with 162.00 as next goal. Falling below 160.00 may lead to support retest at Tenkan-Sen, Kijun-Sen, suggesting Ichimoku Cloud consolidation. The EUR/JPY edged higher late during Friday’s North American session, with buyers reclaiming the 160.00 figure on a risk-on impulse, as US equities traded with solid gains. At the time of writing the cross-pair exchanges hands at 160.07 After dipping inside the Ichimoku Cloud (Kumo) and hitting a weekly low…
It was another busy week for the global markets as traders faced top tier economic updates from all over and major central bank events. The Fed arguably took the spotlight this week as Chairman Powell and his team effectively dropped their aggressive hawkish rhetoric and signaled openness towards easier policies. Ditto for the Bank of England (BOE), which also removed references to further tightening in their February statement. This week’s round of economic data releases also showed that the Euro Area juuuust avoided a technical recession, and the U.S. jobs data just signaled to traders to that they…
It’s no surprise but bombs are reportedly falling in Syria right now in response to the US soldiers killed last weekend. Earlier this week there were reports that Biden had authorized strikes in Iraq and Syria in response. So long as no bombs fall in Iran, I don’t think this will matter for markets, including oil. This article was written by Adam Button at www.forexlive.com. Source link