Author: FX
Share: EUR/JPY gains momentum around the 160.00 psychological figure on Wednesday. The verbal intervention from Japan’s top currency diplomat Masato Kanda might cap the Japanese Yen’s downside. Eurozone HICP eased to 2.9% YoY in October vs 4.3% prior, the quarterly GDP for Q3 came in at -0.1%. The EUR/JPY cross holds positive ground during the early European session on Wednesday. The cross hovers around the 160.00 psychological mark after retracing from the fresh 15-year highs of 160.85. That being said, the disappointed Bank of Japan’s (BoJ) decision to maintain the ultra-loose policy exerts pressure on the Japanese Yen…
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© Reuters. Flares are pictured over Gaza Strip, seen from southern Israel, October 31, 2023. REUTERS/Fedja Grulovic By Nidal al-Mughrabi and Emily Rose GAZA/JERUSALEM (Reuters) -Israeli airstrikes hit a densely populated refugee camp in the Gaza Strip, killing at least 50 Palestinians and a Hamas commander, and medics struggled to treat the casualties in the enclave where food, fuel and basic supplies are running scarce. Israeli tanks have been active in Gaza for at least four days following weeks of air bombardments in retaliation for an attack by Palestinian Hamas militants on southern Israeli towns on Oct. 7 and the…
Japan chief cabinet secretary Matsuno with some verbal intervention to proper up the yen: Important for currencies to move in stable manner reflecting fundamentalsRapid fx moves undesirableWon’t comment on forex levels Won’t rule out any steps to respond to disorderly fx movesEarlier from Finance Minister Suzuki Japan finance minister Suzuki has no comment on the weak yenAnd also from ‘Mr. Yen’ Kanda:Japan’s Mr Yen Kanda says concerned about one-sided sharp FX movesand more: standing by but no comment on when and what when asked about possible steps to be taken including intervention This article was written by Eamonn Sheridan at…
Share: EUR/USD finds support ahead of the mid-1.0500s, though struggles to attract any buyers The USD pauses after the previous day’s strong move up and lends some support to the pair. Expectations that the ECB is done raising rates undermine the Euro and act as a headwind. Investors now look to the US macro data for a fresh impetus ahead of the FOMC decision. The EUR/USD pair oscillates in a narrow band during the Asian session on Wednesday and for now, seems to have stalled the previous day’s sharp retracement slide from the 1.0675 region, or a one-week…
Joshua Hicks/iStock via Getty Images Marathon Petroleum (NYSE:MPC) is “not interested” in participating in the auction process for Citgo’s U.S. refining assets, preferring to spend on the company’s own 13 refineries, CEO Michael Hennigan said Tuesday on Marathon’s post-earnings conference call, as reported by Argus. “Refining M&A is one of the more challenging ways to create value,” Senior VP David Heppner said on the call in response to a question about the company’s interest in the Citgo auction, according to Argus. “You shouldn’t anticipate us participating in the current auction process for the Citgo assets.” Citgo, with more than 800K…
EUR/USD, NASDAQ 100 OUTLOOK:The Fed’s interest rate announcement will take center stage on WednesdayA dovish monetary policy outlook could spark a rally in risk assets and weigh on the U.S. dollar. A hawkish outcome would have the opposite effectIn this article, we scrutinize key technical thresholds for observation on the Nasdaq 100 and EUR/USD Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Japanese Yen Craters after BoJ Fails to Appease Bears, USD/JPY & EUR/JPY SoarThe Federal Reserve will disclose its penultimate monetary policy decision…
Odds are rising quickly that Cable is gonna see a ton of action very soon with monetary policy statements from both the Federal Reserve and Bank of England this week. What is price action telling us and what areas of the chart should we watch before putting on risk? GBP/USD 4-Hour Forex Chart by TradingView What’s up forex fiends! If USD/JPY was THE currency pair to watch this week, then GBP/USD comes as a pretty darn close second with two major catalysts ahead: the latest monetary policy decisions from the Federal Reserve on Wednesday and the Bank of England on…
© Reuters. A row of residential houses stands in Brooklyn’s neighborhood of Bushwick, New York, U.S., September 16, 2022. REUTERS/Amr Alfiky/File Photo (Reuters) – Insurer Assurant (NYSE:) reported a surge in third-quarter adjusted profit on Tuesday, helped by the strong performance of its global housing unit and higher investment returns, sending shares up 2.7% in aftermarket trading. Assurant’s global housing business, which offers lender-placed insurance, multi-family housing and mortgage services, posted adjusted EBITDA of $165.1 million in the quarter, compared with a loss of $38.5 million a year earlier. “Global Housing’s top-line momentum and improving loss experience combined with Global…
The New York branch of the Federal Reserve released its Multivariate Core Trend (MCT) inflation measure on Tuesday ICYMI.The main points highlighted by the Fed:Multivariate Core Trend (MCT) inflation was 2.9 percent in September, a 0.3 percentage point increase from August (which was revised up from 2.5 percent). The 68 percent probability band is (2.4, 3.3). Services ex-housing accounted for 0.54 percentage point (ppt) of the increase in the MCT estimate relative to its pre-pandemic average, while housing accounted for 0.50 ppt. Core goods had the smallest contribution, 0.03 ppt. A large part of the persistence in housing and services…