Author: FX
Heads up, crude oil traders! A reversal might be in the cards for this commodity, and this pullback could provide an opportunity to catch the new trend. Check out these levels I’m watching on the hourly chart. WTI Crude Oil (USOIL) 1-hour Chart by TradingView WTI crude oil has been in selloff mode recently, thanks to a combination of risk-off flows and weaker demand expectations. It didn’t help that a surprise build was reported by the American Petroleum Institute, as private inventories rose by 483K barrels in the week ending January 12. Analysts had expected to see a draw of…
Share: Indian Rupee trades on a positive note as the US Dollar recovery stalls on Thursday. RBI’s Das said inflation is moderating, approaching the central bank’s 4% target while growth prospects remain robust. Investors will monitor the US data and Das’s speech at the annual World Economic Forum (WEF) in Davos. Indian Rupee (INR) recovers some lost ground on Thursday. The INR fell on Wednesday, driven by equities outflows and the stronger US dollar (USD). That being said, the US Dollar Index (DXY) rose to a one-month high as investors pare bets on aggressive rate cuts following the…
Jeff Swensen/Getty Images News Alcoa (NYSE:AA) -2.8% post-market Wednesday after reporting a narrower Q4 adjusted loss as revenues fell 2.5% Y/Y to $2.6B, in line with expectations, while costs fell nearly 8% from a year earlier. Alcoa (AA) posted a GAAP loss of $150M, or $0.84/share, compared with a loss of $395M, or $2.24/share, for the year-ago period. The company’s Q4 alumina production fell 1% Q/Q to 2.79M metric tons on lower output from its Australia refineries, while aluminum production increased 2% from the prior quarter’s strong output to 541K tons. Q4 revenues fell 5% in the alumina segment due…
I posted on the jobs report due from Australia at 11.30 am Sydney time (0030 GMT and 1930 US Eastern time) here:Asian Economic Calendar: Key Events and Consensus Expectations for 18 January 2024Preview comments via CBA:We expect a modest gain in employment in December of +20k after a large 61.5k lift in November. Trend employment growth has slowed, as have forward looking indicators of labour demand. We expect the participation rate to remain unchanged at a record high of 67.2% which would see the unemployment rate remain steady at 3.9%.Scotia:Australia’s job market has been on fire but will it continue?…
Share: The GBP/JPY found additional topside on Wednesday as Yen recedes further. Japanese Yen continues to get pulled under by BoJ policy stance. UK CPI beat the street, UK Retail Sales slated for Friday. The GBP/JPY found fresh chart paper on the high side towards the 190.00 major handle, climbing over a full percent on the day as the Pound Sterling (GBP) catches a lift against the beleaguered Japanese Yen (JPY) after a better-than-expected print in the UK’s Consumer Price Index (CPI) inflation. UK CPI inflation printed better than markets expected early Wednesday, showing MoM CPI in December…
Emergent BioSolutions extends shelf life of Narcan to 4 years Source link
© Reuters. FILE PHOTO: The iPhone 15 Pro is presented during the ‘Wonderlust’ event at the company’s headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott/File Photo (Reuters) -Apple ended Samsung Electronics (KS:)’ 12-year run as the largest seller of smartphones in the world, after commanding a 20% market share in 2023, according to a report from International Data Corp. Samsung ended the year with a 19.4% share, followed by China’s Xiaomi (OTC:), Oppo and Transsion, preliminary data from IDC’s Worldwide Quarterly Mobile Phone Tracker showed. The change in ranking comes after a tough year that saw consumers going…
© Reuters. Masco Corp. (MAS) sales ‘likely to continue being pressured’ – Gimme Credit Corporate bond research firm Gimme Credit upgraded Masco Corp . (NYSE:) to Improving from Stable in a note Wednesday, raising its credit score for the company to 1 from 0. Analysts at Gimme Credit said Masco sales are likely to continue being pressured as the repair and remodel market is expected to be flattish in 2024. “The adjusted operating margin outlook, however, remains favorable on cost savings initiatives, pricing actions, and lower raw material costs,” they added. Analysts also noted that the company reiterated its intent…
USD/JPY today cleared the last major hurdle standing in the way of a yet-another retest of 150.00.It rose above the 61.8% retracement level from November-December slump, cruising through and adding another 100 pips beyond it. It’s up 130 pips to 148.50.USDJPY dailyThe pair has soared higher from 144.50 at the start of the week, gaining 400 pips in a one-way move. From the start of the year, it’s now up nearly 800 pips as the December slump unwinds.Two things have driven it:1) The BOJ has pushed back on rate hiking expectationsThe earthquake in Japan was the first even that sparked…
Crude Oil Price, Analysis and ChartsCrude prices shed more than a dollar after the China dataThe market faces multiple uncertainties, as its pricing reflectsNear-term falls look more likely.Crude oil prices fell by more than a dollar per barrel on Wednesday as China’s growth data disappointed, raising more worries about end-demand for energy.The world’s number two economy expanded by an annualized 5.2% in the final quarter of 2023. This was only a tick below expectations but, given weak rises in household income and clear pressure on consumer sentiment, that was enough to hit oil prices.The United States West Texas Intermediate benchmark…