Author: FX

Share: Australian Dollar continues its winning streak amid a prevailing risk-on sentiment. Australian Central Bank is expected to reduce the policy rate after the softer Consumer Confidence and Employment Change figures. AUD could find support as the domestic share market surges following a rally in the US markets on Friday. PBoC keeps its Loan Prime Rate (LPR) steady at 3.45% and 4.20% for the one-year and the five years, respectively. US Dollar could draw support as a safe-haven status while the trade disruption threat escalates in the Red Sea. The Australian Dollar (AUD) hovers around a psychological level at 0.6600 on…

© Reuters. FILE PHOTO: Paramilitary police officers stand guard in front of the headquarters of the People’s Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo SHANGHAI/SINGAPORE (Reuters) – China kept benchmark lending rates unchanged at the monthly fixing on Monday, matching market expectations, after the central bank surprised markets by keeping its medium-term policy rate steady last week. The one-year loan prime rate (LPR) was kept at 3.45%, and the five-year LPR was unchanged at 4.20%. In a Reuters poll of 27 market watchers conducted last week, all but one participant predicted…

Michael M. Santiago Macy’s (NYSE:M) rejected a $21 a share takeover offer from investment firms Arkhouse Management and Brigade Capital Management. The private equity frims earlier Sunday, before the official rejection from Macy’s (M), threatened to go directly to shareholders with their $5.8 billion offer for the department store chain. “We are highly motivated to consummate an acquisition of Macy’s and are prepared to pursue all necessary steps, including direct engagement with stockholders, to achieve this goal,” Arkhouse Managing Partners Gavriel Kahane and Jonathon Blackwell said in a statement earlier on Sunday. Arkhouse said that in recent weeks, the firm…

People’s Bank of China USD/CNY reference rate is due around 0115 GMT.The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central…

Share: San Francisco Federal Reserve Bank President Mary Daly said on Friday that she believes the central bank has a lot of work left to do on bringing inflation back down to the Fed’s 2% target and it’s too early to think interest-rate cuts are around the corner. Key quotes “We have a lot of work left to do on inflation.”“It’s premature to think rate cuts are around the corner.”“Far too early to declare victory.”“We need to get inflation on a consistent trajectory to 2%, need more evidence to feel confident to adjust policy rate.”“Any early signs that…

2/2 © Reuters. Republican presidential candidate and former U.S. President Donald Trump attends a rally ahead of the New Hampshire primary election in Manchester, New Hampshire, U.S. January 20, 2024. REUTERS/Kevin Lamarque 2/2 By Gram Slattery and James Oliphant MANCHESTER, New Hampshire (Reuters) -Florida Governor Ron DeSantis on Sunday suspended his run for the Republican presidential nomination, he said in a video posted to the X social media site. That came as South Carolina Governor Nikki Haley made her closing argument in New Hampshire on Sunday to challenge Donald Trump as the Republican presidential nominee. A poll released on Sunday…

Global Market Outlook – W/C January 22ndMarkets to Watch Next Week as Central Bankers Have Their Say Recommended by Nick Cawley Get Your Free Equities Forecast US equities are running ever higher with the S&P 500 and the Dow Jones posting fresh all-time highs on Friday. A strong in big tech stocks is behind the latest leg higher and with the Q4 earnings season already up and running, strong results from any of the ‘Magnificent Seven’ will likely see US indices rally further. The S&P 500 is dominated by these seven companies with Microsoft on its own having a 7.29%…

bombermoon/iStock via Getty Images SolarEdge Technologies (NASDAQ:SEDG) plans to lay off 900 employees, or ~16% of its total workforce of 5,500, with 550 workers in Israel among the cuts, Calcalist reported Sunday. The company, whose market valuation has plunged 80% in the past year, is expecting Q4 2023 revenues to decline 55% to ~$325M from Q3, which were 27% less than in Q2. SolarEdge (SEDG) stock has dropped 25% in the first three weeks of the new year; seeing a tough road to recovery for sales, margins and market share, Barclays downgraded shares last week to Underweight from Equal Weight…

It was another busy week for FX traders with inflation updates and plenty of central bank catalysts on the calendar, creating a challenging environment. So our strategists focused mainly on shorter-term ideas, which we’d argue was net supportive in leading to positive outcomes. 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. On Tuesday, we focused on GBP/USD after the U.K. had just reported net weaker employment data, most notably a larger than expected fall in the wage growth rate and large rise in…

6/6 © Reuters. A man mourns his wife, who was killed while working at a food market following, what local Russian-installed authorities say, was a Ukrainian military strike in the course of Russia-Ukraine conflict in Donetsk, Russian-controlled Ukraine, January 21, 2024 2/6 (Reuters) – Twenty-five people were killed and 20 injured when Ukrainian forces shelled the Russian-controlled city of Donetsk in eastern Ukraine, Denis Pushilin, the Russian-appointed head of the Donetsk region, said on Sunday. According to Alexei Kulemzin, the city’s Russian-installed mayor, Ukrainian forces bombarded a busy area where shops and a market are located. Pushilin said the city…