Author: FX

Indian Rupee edges higher on Monday on the weaker USD.  The optimistic Indian economic outlook and the continuous foreign inflows boost the Indian Rupee. The US Fed interest rate decision on Wednesday will be in the spotlight.  Indian Rupee (INR) recovers its lost ground on Monday amid the modest decline of US Dollar (USD). The recovery of the INR is bolstered by the positive economic outlook in the Indian economy and the continuous foreign inflows into government bonds. Foreign portfolio investors increased their holdings of Indian government bonds by roughly 50% since the index inclusion news less than six months…

RHJ/iStock via Getty Images BHP (NYSE:BHP) has cut ~100 workers constructing its West Musgrave nickel and copper project in Western Australia, Australian Financial Review reported Sunday, in the latest move by a major mining company to reduce costs in an environment of weak commodity prices. The workforce at the A$1.7B project was cut from ~400 to 300, but the paring of some workers did not mean the entire project, acquired from OZ Minerals last year, has been canceled, according to the AFR report. BHP (BHP) already said it would take a A$2.5B impairment charge related to its struggling Western Australia…

© Reuters. File photo: Employees work on the trucks production line during an organised media tour to the Shaanxi Automobile Group factory in Xian, Shaanxi province, China May 17, 2023. REUTERS/Florence Lo/File photo BEIJING (Reuters) – China’s factory output sped up in the January-February period and beat expectations, marking a solid start for 2024 and offering tentative relief to policymakers who are seeking to shore up faltering economic growth. Industrial output rose 7.0% in the first two months of the year, data released by the National Bureau of Statistics (NBS) showed on Monday, above expectations for a 5.0% increase in…

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.Previous close was 7.1965PBOC injects 10bn via 7-day RR, sets rate at an unchanged 1.8%10bn yuan of RRs mature todaythus neutral on the day in OMOsOffshore yuan, USD/CNH, update, persistently higher than the People’s Bank of China onshore yuan…

The European Central Bank (ECB) policymaker Pablo Hernandez de Cos said on Sunday that the central bank could begin cutting interest rates in June after an easing in eurozone inflation, per Reuters,  Key quotes “If our macroeconomic forecasts are met in the coming months, it is normal that we will start cutting rates soon and June could be a good date to start.””The current degree of consensus is very high and I hope this will continue to be the case.””In any case, I believe that the current degree of consensus is very high and I hope this will continue to…

FreightCar America (NASDAQ:RAIL) is scheduled to announce Q4 earnings results on Monday, March 18th, after market close. The consensus EPS Estimate is -$0.01 (+96.8% Y/Y) and the consensus Revenue Estimate is $135M (+4.7% Y/Y). Over the last 2 years, RAIL has beaten EPS estimates 63% of the time and has beaten revenue estimates 50% of the time. Over the last 3 months, EPS estimates have seen 0 upward revisions and 2 downward. Revenue estimates have seen 0 upward revisions and 1 downward. More on FreightCar America Source link

By Luis Jaime Acosta BOGOTA (Reuters) -Colombia will suspend its months-long ceasefire with the Estado Mayor Central (ECM) armed group in three provinces on Wednesday, a government decree said on Sunday, citing incidents of violence that broke the ceasefire. The EMC (NYSE:) – founded by former members of the Revolutionary Armed Forces of Colombia (FARC) rebels who reject the 2016 peace deal signed by that group – began talks with President Gustavo Petro’s government last year, in a bid to end its part in Colombia’s 60 years of war. The announcement of the end of the ceasefire did not mention…

Is the Bank of Japan (BOJ) about to exit its ultra-easy monetary policy? Or will officials hold and pushback any tightening expectations? Here’s what you should look out for in the upcoming BOJ statement and what it could mean for JPY pairs. 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

Week Ahead, March 18-22ndMon: Chinese Retail Sales (Feb), EZ Final CPI (Feb)Tue: BoJ Announcement, RBA Announcement; German ZEW Survey (Mar), Canadian CPI (Feb)Wed: FOMC Announcement, PBoC LPR, BCB Announcement, CNB Announcement, BoI Announcement, Japan Market Holiday (Vernal Equinox Day); UK CPI (Feb), New Zealand GDP (Q4)Thu: BoE Announcement, SNB Announcement, Norges Announcement, CBRT Announcement, European Council Meeting; EZ/UK/US Flash PMIs (Mar), US Philly Fed (Mar), New Zealand Trade Balance (Feb), Japanese CPI (Feb).Fri: Japan’s Rengo (labour union) 2nd Pay Tally, CBR Announcement, European Council Meeting; Australian Jobs Report (Feb), UK Retail Sales (Feb), German Ifo Survey (Mar)Note: Previews are listed…

© Reuters. Yulia Navalnaya, the widow of Alexei Navalny, the Russian opposition leader who died in a prison camp, stands in a queue outside the Russian Embassy on the final day of the presidential election in Russia, in Berlin, Germany, March 17, 2024. REUTERS/Anneg By Guy Faulconbridge and Andrew Osborn MOSCOW (Reuters) – Thousands of people turned up at polling stations across Russia on Sunday to take part in what the anti-Kremlin opposition said was a peaceful but symbolic political protest against the re-election of President Vladimir Putin. In an action called “noon against Putin”, Russians who oppose the veteran…