Author: FX
Costco Wholesale (NASDAQ:COST) is set to report first quarter results on Thursday. Wall Street expects the Washington-based company to report EPS of $3.43, implying a rise of 10.6%, while revenue is expected to rise 6.2% at $57.79 billion. Earlier in September, Costco posted higher-than-expected quarterly profit and sales. The company also reported a Y/Y rise in net sales for the retail month of November, while also delivering an increase in comparable sales. Even though discretionary spending remains limited amid a comparatively weak economy, Costco is benefiting from its loyal customer base flocking to its stores and lower price for everyday…
© Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2023. REUTERS/Brendan McDermid/File Photo (Corrects paragraph 6 to remove extraneous words) By Shristi Achar A and Johann M Cherian (Reuters) -U.S. stocks were poised for a higher open on Wednesday as fresh data signaled signs of cooling inflation ahead of the Federal Reserve’s final policy decision of the year, where it is widely expected to leave interest rates unchanged. The Labor Department’s report showed the Producer Price Index (PPI) for final demand rose 0.9% on an annual…
With market liquidity set to wind down towards the end of the year, you might want to consider taking a break from trading soon. If you’re looking to use this time to work on your trading psychology, I’ve rounded up some of my favorite self-improvement books that are relevant to building a good trading mindset. Note that this list covers a more general scope of non-fiction books that might also be helpful in other aspects of life outside of good ol’ trading classics like Market Wizards, Trading in the Zone, or my personal favorite, The Daily Trading Coach. 1. Sway:…
In the ever-evolving landscape of financial markets, traders are constantly on the lookout for tools and strategies that can provide them with a competitive edge. One such tool that has gained significant popularity among traders is the Support and Resistance Zone MT4 Indicator. In this article, we will delve into the intricacies of this indicator, exploring its functionality, significance, and how it can be effectively utilized in trading strategies. Understanding Support and Resistance Zones Before we dive into the specifics of the MT4 Indicator, it’s crucial to grasp the concept of support and resistance zones in trading. These are critical…
Share: Economists at ING analyze USD outlook ahead of the Fed’s policy decision. Dollar can get support from well-telegraphed Fed pushback It is now a very consensus view that the Fed will push back against rate cut expectations. We expect the Dot Plots will show only 50 bps of cuts in 2024. Still, markets may feel less comfortable about the first rate cut coming in May, and a softening in risk sentiment could help the Dollar today – and into Christmas. A stabilisation around 104/105 in DXY seems plausible. See – Fed Preview: Forecasts from 10 major banks, crushing rate…
AUD/NZD is knocking on December’s range resistance! In case you missed it, the New Zealand dollar dropped like a rock against its major counterparts earlier today. One potential cause for today’s drop is New Zealand printing a weaker-than-expected food price index, which resulted in banking and financial services company Westpac revising its New Zealand quarterly inflation forecasts down from 0.6% to 0.3% for Q4 2023. Take note that lower producer inflation and inflation projections would make it harder for the Reserve Bank of New Zealand (RBNZ) to sustain its hawkish “higher for longer” stance. This would increase…
UK GDP, Pound Sterling News and AnalysisUK GDP reveals further signs of concern ahead of final central bank meetings for 2023Pound sterling depreciates ahead of FOMC later this eveningWill the Bank of England acknowledge weaker growth data and notable progress on inflation or will a hawkish message help stabilise the pound?UK GDP Reveals Further Signs of Concern Ahead of Major Central Bank MeetingsUK GDP disappointed across multiple measures of GDP growth, coming in at 0.3% compared to October last year and printing flat on average over the last 3-months. Growth has been a major concern in the UK, something that…
Algernon Pharmaceuticals announces private placement Source link
© Reuters. A man walks past a pollution pod designed to mimic the air quality in New Delhi, during the United Nations Climate Change Conference (COP28), in Dubai, United Arab Emirates, December 4, 2023. REUTERS/Thaier Al-Sudani/File photo By Valerie Volcovici, Gloria Dickie and William James DUBAI (Reuters) – The COP28 Presidency released a proposed text of a final climate deal on Wednesday that would, for the first time, push nations to transition away from fossil fuels to avert the worst effects of climate change. The draft is meant to reflect the consensus view of nearly 200 countries gathered at the…
New Zealand’s new government has officially abandoned full employment as a goal for the Reserve Bank of New Zealand. This was a policy position the new government had going into the election and since winning the new policy has been much publicized, so it’s not fresh news, The legislation has now been passed returning the Reserve Bank of New Zealand’s mandate to a sole focus on inflation, removing the need to take employment into account when making monetary policy decisions. The RBNZ took on the employment mandate in 2018. The RBNZ Monetary Policy Committee next meets in February.Earlier: Source link