Author: FX
SlavkoSereda/iStock via Getty Images Crude oil prices edged lower Tuesday following a higher than expected forecast for U.S. crude production and a greater than expected increase in U.S. consumer prices in February. In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration raised its 2024 outlook for growth in domestic oil production by 260K bbl/day to 13.19M barrels, compared with its previous forecast for a gain of 170K bbl/day. The EIA had predicted that U.S. production would decrease slightly through the middle of 2024 and not exceed the monthly output record of 13.3M bbl/day set last December until February…
© Reuters. FILE PHOTO: Workers install the fuel cell power system in a Toyota Mirai at a Toyota Motor Corp. factory in Toyota in Aichi Prefecture, Japan, Apriil 11, 2019. Picture taken on April 11, 2019. REUTERS/Joe White/File Photo By Tetsushi Kajimoto and Daniel Leussink TOKYO (Reuters) – Some of Japan’s biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Economists see substantial wage increases as a prerequisite for the Bank of…
If you did miss this, check it out now from Justin:BOJ reportedly considering March rate hike but outcome is still too close to callNo decision has been made yet, with outcome currently too close to call, according to people familiar with the matter.A final decision will be made after officials see the initial tally from spring wage talks due Friday, according to the people. More: Officials are preparing for both a hike or a hold decision at the March 18-19, according to the people. the assessment of officials is that the bank is close to liftoff, according to the people.…
Share: Governor of the Bank of France and ex officio member of the European Central Bank (ECB) François Villeroy de Galhau noted on Tuesday that the ECB’s pragmatism about rate cuts is not dependent on Federal Reserve (Fed) policy. Governor Villeroy’s comments come after the Bank of France upped its growth forecast for France to 0.2% for the first quarter, up slightly from the previous forecast of 0.1-0.2% for Q1. Key highlights ECB rate cuts are independent of the Fed’s policy. The ECB can be free and pragmatic on the pace of rate cuts. The ECB is broadly in…
BlackJack3D Morgan Stanley listed high conviction stocks with U.S. productivity opportunities thanks to artificial intelligence, as companies have been focusing on efficiency gains. According to Strategist Edward Stanley, companies’ leadership at the Morgan Stanley’s 2024 Technology, Media & Telecom Conference stated that they were in the ‘experimental’ phase of AI, but that with the help of “customer support gains and github integrated into research and development processes, the margin expansion in these names should be meaningful over the second half of 2024 and into 2025.” Sam Altman, CEO of OpenAI, said at the conference that “it will not be long…
© Reuters. FILE PHOTO: Billionaire activist investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid/File Photo By Svea Herbst-Bayliss and David Carnevali NEW YORK (Reuters) – Activist investor Carl Icahn has dropped a threat to mount a new challenge to Illumina (NASDAQ:)’s board, sparing the U.S. gene sequencing company from its second proxy contest in as many years, according to people familiar with the matter. Icahn, who installed one of his nominees to Illumina’s board last year through a proxy contest, had said in December he wanted to…
USD/JPY FORECASTUSD/JPY rallies on Tuesday after a poor performance over the past few trading sessionsHotter-than-expected U.S. consumer price index data reinforces the U.S. dollar’s reboundFor greater clarity on the inflation outlook, traders should watch the upcoming PPI reportMost Read: US Inflation Comes in Hotter-Than-Expected, USD Gets a Small Bid, Gold DriftsUSD/JPY, already on an upward trajectory Tuesday morning, accelerated higher after February’s U.S. consumer price index figures surpassed projections, an event that boosted U.S. Treasury yields across the curve. For context, both headline and core CPI beat forecasts, with the former coming in at 3.2% y-o-y and the latter at…
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Share: New Zealand Dollar weakens against the US Dollar following the latest US inflation figures for February. They paint a picture of stubbornly hot inflation, which could make the Fed keep interest rates elevated to cool. The NZD/USD pair is falling back down towards its range lows in the 0.6080s. The New Zealand Dollar trades lower against the US Dollar on Tuesday in the wake of US Consumer Price Index (CPI) data for February, which shows inflationary pressures in the American economy remain stubbornly high. The data suggests the Federal Reserve (Fed) may have to keep interest rates higher…
Euro (EUR/USD) Analysis and ChartsUS consumer prices rose by 3.2% last month, a tick ahead of forecastsCore inflation edged down but, again, beat consensusEUR/USD slipped again, continues to drift lowerLearn how to trade EUR/USD with our complimentary guide Recommended by David Cottle How to Trade EUR/USD The Euro slipped a little against a broadly stronger United States Dollar on Tuesday in the wake of official data showing inflation had ticked up in the world’s largest economy,US consumer prices rose by 3.2% in February, just ahead of the 3.1% seen in January which was expected to have been repeated. The ‘core’…