Author: FX
Share: The Greenback ended the week on a slight bearish note, as investors continued to price in a potential interest rate cut by the Fed in June, while unexpected weakness in key fundamentals also put the currency under pressure, allowing instead some breathing room in the risk-associated universe. Data-driven selling pressure dragged the USD Index (DXY) back to the 103.80 region on Friday, prompting the index to end its second consecutive week in negative territory. Next week, the focus of attention will be on Non-farm Payrolls and the Unemployment Rate on March 8. Before those events, the final…
It turns out there is still more room on the AI hype train.US equities were mixed earlier but a hint of a softening of the US economy (ie rate cuts) and it was right back to the races. The S&P 500 is up 32 points to a record 5128 and the Nasdaq Composite just broke the 2021 high.Nasdaq dailyThese are some lofty numbers and lofty moves. it’s no surprise to see chipmakers at the top of the list today with Broadcom, WD, Micron and AMD inthe top-8 gainers in the S&P 500. NVDA has also added another 3.3%The move hasn’t…
Share: GBP/USD caught an intraday bump on Friday after a surprise miss in the US ISM Manufacturing Purchasing Managers Index (PMI) sparked renewed risk appetite on the back of fresh hopes for easing inflation to kick off a round of rate cuts from the Federal Reserve (Fed). Read More… The Pound Sterling (GBP) finds support in Friday’s European session after closing in negative territory on Thursday. The GBP/USD pair holds key 1.2600 support amid hopes that the Bank of England (BoE) will begin reducing interest rates after the Federal Reserve (Fed). Read More… The GBP/USD pair attracts some buying during the Asian…
Share: GBP/USD rallies back into technical midrange near 1.2650. Broad-market risk appetite knocks Greenback lower. US ISM Manufacturing PMI fell back in February, price pressures easing. GBP/USD caught an intraday bump on Friday after a surprise miss in the US ISM Manufacturing Purchasing Managers Index (PMI) sparked renewed risk appetite on the back of fresh hopes for easing inflation to kick off a round of rate cuts from the Federal Reserve (Fed). ISM Manufacturing PMI: declines to 47.8 in February vs. 49.5 expected The US ISM Manufacturing PMI for February slid to 47.8 versus the forecast uptick to 49.5…
Share: USD/CAD flubs 1.3600 once again. Canada Manufacturing PMI recovers but still in contraction. US ISM Manufacturing PMI declined, flaunting forecasts. USD/CAD fumbled the 1.3600 handle on Friday after a worse-than-expected US ISM Manufacturing Purchasing Managers Index (PMI) for February unexpectedly declined. The US Dollar (USD) was dragged broadly lower, sending the USD/CAD pair back into familiar technical territory near 1.3550. Canada saw a decline in its S&P Global Manufacturing PMI on Friday, but market attention was focused on the day’s key US data print. Next week brings the latest rate call from the Bank of Canada (BoC)…
Share: The DXY Index trades bearishly at 103.7, marking a weak end to the week. US ISM Manufacturing PMI came disappointingly lower at 47.8, far off the anticipated 49.5. The expectations for the easing cycle to start in June remain intact. The US Dollar Index (DXY) initiates a new month of trading on Friday with a slightly lower open at the 103.7 level. This fall is primarily driven by a contraction in the US manufacturing sector in February. Despite an overall slump in the manufacturing sector’s performance, Federal Reserve (Fed) officials maintain poker faces and have refused to…
Global Ship Lease Q4 2023 Earnings Preview Source link
Most Read: Gold Price Outlook – Fundamentals & Technicals at Odds, What Now for XAU/USD?The yen posted small losses against the U.S. dollar on Friday, after a positive performance in the previous session, weighed down by comments by Bank of Japan’s Governor Kazuo Ueda indicating that inflation in the country is ebbing rapidly, and that the sustainability of the price goal is not yet in sight.Ueda’s dovish remarks indicate that policymakers remain hesitant to pull the trigger and finally abandon negative borrowing costs, diminishing the likelihood of a surprise rate hike at the BoJ’s March meeting—an outcome that certain traders…
© Reuters. HICKSVILLE, N.Y. – New York Community Bancorp , Inc. (NYSE: NYSE:), parent company of Flagstar Bank, N.A., announced today the immediate appointments of George F. Buchanan III as Executive Vice President and Chief Risk Officer, and Colleen McCullum as Executive Vice President and Chief Audit Executive. These appointments come as part of the company’s efforts to bolster its management team and enhance its risk framework. Executive Chairman, President and CEO Sandro DiNello, who is also the company’s largest individual shareholder, emphasized the swift action taken to address operational weaknesses. DiNello expressed confidence in the company’s financial stability and…
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