Author: FX

Share: GBP/USD consolidates in a range around 1.2700 mark, downside potential seems limited The GBP/USD pair ticks higher following an Asian session dip on Monday, albeit lacks follow-through and remains confined in a familiar range held over the past two weeks or so. Spot prices currently trade around the 1.2700 mark, nearly unchanged for the day as traders await a fresh catalyst before positioning for a firm near-term trajectory. Hence, the focus remains glued to the outcome of the highly-anticipated two-day FOMC monetary policy meeting starting on Tuesday amid the uncertainty over the timing of the first interest…

Sunshine Seeds/iStock via Getty Images WilScot Mobile Mini (NASDAQ:WSC) is near deal for McGrath RentCorp (NASDAQ:MGRC). The cash-and-stock deal is expected to announced on Monday, according to a WSJ report late Sunday, which cited people familiar with the matter. The per-share price for the transaction wasn’t known. WilScot Mobile Mini (WSC) has a market cap of $8.65 billion, while McGrant RentCorp (MGRC) is value at $2.74 billion. Source link

© Reuters. FILE PHOTO: An exit sign is seen in front of residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. REUTERS/Florence Lo/File Photo (Reuters) – A Hong Kong court on Monday ordered the liquidation of China Evergrande (HK:) Group, a move likely to send ripples through China’s crumbling financial markets as policymakers scramble to contain the deepening crisis. MARKET REACTION: Trading in shares of China Evergrande, China Evergrande New Energy Vehicle Group, and Evergrande Property Services was halted. The benchmark was up 1.2%. COMMENTARY: WANG BO, CHIEF INVESTMENT OFFICER, JURUN CAPITAL, SHANGHAI “This Evergrande thing…

Earlier:China property developer Evergrande faces imminent liquidationConfirmed now, the company will be wound up. Shares in Evergrande, Evergrande New Energy Vehicle, and Evergrande Property Services have been suspended in Hong KongEvergrande first defaulted on its financial obligations in 2021. This followed a Beijing clamp down on lending to property developers in an effort to cool a property bubble just about a year prior. a provisional liquidator and then an official liquidator will be appointedwill take control and prepare to sell the developer’s assets to repay its debtsliquidators could propose a new debt restructuring plan to offshore creditors This article was…

Share: The Japanese Yen is undermined by the weaker Tokyo Core CPI released on Friday. The USD holds steady just below the monthly peak and lends support to USD/JPY. Traders, however, seem reluctant amid the uncertainty over the Fed’s rate cut path. The Japanese Yen (JPY) remains on the defensive against its American counterpart at the start of a new week and languishes near a two-month low touched on January 19. Data released on Friday showed that inflation in Tokyo – Japan’s capital city – fell below the Bank of Japan’s (BoJ) 2% target for the first time…

© Reuters. FILE PHOTO: The Evergrande Center of China Evergrande Group is seen in Shanghai, China September 24, 2021. REUTERS/Aly Song/File Photo By Clare Jim HONG KONG (Reuters) – China Evergrande (HK:) Group goes back to a Hong Kong court on Monday in a high-profile case to decide whether to liquidate the Chinese property developer that has been at the centre of a spiralling debt crisis in the world’s second-biggest economy. Evergrande, the world’s most indebted developer with more than $300 billion of total liabilities, sent a struggling property sector into a tailspin when it defaulted on its debt in…

Sanmina Q1 2024 Earnings Preview Source link

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This week’s calendar was action packed, prompting our FX strategists to focus on shorter-term ideas and very specific fundamental and technical triggers. We think it was a net neutral performance week with only one day where our discussion clearly and easily played out, and the other two highly dependent on risk/trade management due to the choppiness in markets all week. If you’d like to follow our “Play of the Day” picks right when they are published throughout the week, you can subscribe to BabyPips Premium. For our first strategy discussion of the week, we looked at GBP/JPY as it had…

Mohamad Faizal Bin Ramli Investors will keep a close eye on some of the leading drugmakers this week as the healthcare earnings season gets into high gear for Big Pharma, with market sentiment on the sector rising after a decline for much of the last year. VanEck Pharmaceutical ETF (PPH), which represents 25 of the major drug companies in the world, has added ~5% over the past 30 days, compared to the ~2% rise in the S&P 500 (SP500). However, despite a late rally, PPH ended only ~5% higher last year compared to a ~24% rise in the broader market.…