Author: FX

G0d4ather/iStock Editorial via Getty Images Samsung Electronics Co. (OTCPK:SSNLF) is expected to be awarded more than $6 billion to assist the chipmaker in expanding beyond an already announced project in Texas. The money is coming from the 2022 Chips and Science Act and is would be one of several major awards that the Commerce Department is expected to announce in the coming weeks, according to a Bloomberg report late Thursday, which cited people familiar with the matter. The Samsung award comes after Bloomberg reported last Friday that chipmaker Taiwan Semiconductor Manufacturing (TSM) looks to be the beneficiary of a $5…

© Reuters. FILE PHOTO: A pedestrian walks with an umbrella outside the Embassy of the Russian Federation, near the Glover Park neighborhood of Washington, U.S., February 22, 2022. REUTERS/Tom Brenner/FILE PHOTO (Reuters) – Russia’s ambassador to the United States said on Thursday his embassy had received a number of threats in connection with the Russian presidential election this week. “We are getting a great many provocative calls, threats,” Russian news agencies quoted Ambassador Anatoly Antonov as saying on state television. “We know that there are plans for anti-Russian acts, around our embassies and consulates, and there will be attempts to…

Most Read: British Pound Outlook & Market Sentiment – GBP/USD, GBP/JPY, EUR/GBPThe U.S. dollar surged on Thursday after a subdued performance in recent days, boosted by soaring U.S. Treasury yields following higher-than-anticipated February’s PPI numbers, released on the heels of Tuesday’s hot CPI report.Labor market data, showing that the number of Americans applying for jobless benefits stayed at historically low levels last week, further solidified the greenback’s gains by bolstering confidence in the country’s economic prospects.Presented below are key economic releases from today’s session.Source: DailyFX Economic CalendarAlthough the Fed has indicated that it would likely be appropriate to remove policy…

Barclays continues to favour US equities, citing three tailwinds for stocks ahead:First, much of the increase in valuations is earnings driven. Even as NVDA has pole-vaulted to become a $2trn-plus company, its P/E multiple to forward earnings has come down sharply. Earnings have not only justified bullish consensus forecasts, but have exceeded them in recent quarters. The same is true collectively of Big Tech; most of the equity rally is based on better earnings, not multiple expansion, especially after last week’s wobble in markets. Second is the macro outlookWe expect the U.S. jobless rate to peak at just 4% and…

Mexican Peso faces losses against a resurgent US Dollar, reacting to positive US retail and inflation reports. Banxico Deputy Governor Mejia signals potential for early interest rate cuts, which weighs on the Mexican currency. US economic strength challenges Fed’s easing timeline as traders trim rate cut bets for June’s meeting. The Mexican Peso (MXN) posts minimal losses against the US Dollar (USD) after robust economic data from the United States might deter the US Federal Reserve (Fed) from cutting rates in the first half of 2024. Bank of Mexico (Banxico) Deputy Governor Omar Mejia opened the door for an interest…

Justin Sullivan Oracle (NYSE:ORCL) was in focus on Thursday as investment firm Argus raised its earnings estimates and upgraded the IT tech giant after it reported fiscal third-quarter results. Shares were flat in late Thursday trading. Argus said it now sees fiscal 2024 earnings per share at $5.61, up from a previous view of $5.59 per share. It also increased its forecast for fiscal 2025 to $6.18 per share, up from a prior view of $6.03 per share. The upgrade comes after Oracle earned $1.41 per share on $13.28B in revenue for the period ending Feb. 29, as cloud services…

© Reuters. Investors following PAR PACIFIC HOLDINGS, INC. (NYSE:PARR) should note that Jeffrey Ryan Hollis, the company’s Senior Vice President, General Counsel, and Secretary, has recently sold shares in the company. On March 13, 2024, Hollis sold a total of 4,700 shares of common stock at a price of $37.39 per share, resulting in a total transaction value of $175,733. This sale has adjusted Hollis’s direct ownership in the company to 13,176 shares following the transaction. The price at which the stock was sold was explicitly mentioned in the accompanying footnotes of the filing, ensuring transparency of the executed trade.…

Oil (Brent, WTI) AnalysisIEA projects improved oil outlook for 2024, contingent upon OPEC+ cuts into year endBrent crude oil surpasses $85 a barrelWTI crude oil breaks above prior level of resistance to trade at a 3-month highThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow How to Trade Oil IEA Projects Improved Oil Outlook for 2024The International Energy Agency (IEA) revised its full year outlook for oil demand growth but it still remains a long way off the OPEC forecast. The…

Let’s be real, trading is already a wild mind game. There’s a whole rollercoaster of emotions involved – the thrill of a winning streak, the gut-punch of a big loss, and an unhealthy obsession with squiggly lines on a screen and economic news & data. But if that isn’t enough, traders have another choice that can seriously mess with their heads: prop firm or risking your own precious cash? Let’s take a quick look a both to see the potential psychological factors you may want to consider. Trading With the Backing of a Prop Firm Prop firms: the sugar daddies…

Following today’s data slate, the Atlanta Fed tracker is down to 2.3% from 2.5%. “A decrease in the nowcast of first-quarter real personal consumption expenditures growth from 2.9 percent to 2.2 percent was slightly offset by increases in the nowcasts of first-quarter real gross private domestic investment growth and first-quarter real government spending growth from 1.7 and 2.4 percent, respectively, to 3.0 and 2.7 percent,” the release said.That brings the Atlanta Fed tracker generally into line with the economists’ consensus. This article was written by Adam Button at www.forexlive.com. Source link