Author: FX
© Reuters. In the wake of escalating tensions between Israel and Hamas, Citigroup Inc (NYSE:).’s CEO Jane Fraser has underscored the need for enhanced security measures. Speaking at Saudi Arabia’s flagship investment conference, the Future Investment Initiative, Fraser proposed an expansion of Environmental, Social, and Governance (ESG) factors to include ‘security’. This new domain would cover areas such as food, energy, defense, and financial stability. Fraser’s comments were made against the backdrop of a recent terrorist attack in Israel. She expressed a pessimistic outlook on the situation, emphasizing the importance of building resilient companies and nations to navigate these turbulent…
Article by IG Chief Market Analyst Chris BeauchampNasdaq 100, Nikkei 225, S&P 500 Analysis and ChartsNasdaq 100 holds key supportThe index rallied off the 14,500 level for the second time in a month, in an echo of September’s price action.Now the bulls need to get the price back above 14,800 on a closing basis – Monday’s price action witnessed a push to this level, but momentum then faded.For the moment, the bearish case is still in the ascendant in the short-term, but a bigger pullback will require a close below 14,400, putting the price below the lows of the past…
The sell off in Treasuries abated in the later part of Monday as low prices attracted buyers. Stock markets are also looking somewhat more stable and most Chinese stock gauges improved after the country’s sovereign wealth fund bought exchange traded funds to boost prices. Stock futures are higher across Europe and the US, although the UK100 is struggling. Early data releases in Europe were far from stellar, with German consumer confidence falling again, Eurozone Composite PMI falling to a 35 month low and jobless claims rising in the UK. Bonds have continued to find buyers…
If you’ve been watching today’s PMI releases, then you should know that manufacturing and services PMIs from France, Germany, and the Eurozone have once again highlighted the spotty recovery in the region. Heck, both manufacturing and services PMIs in the Eurozone even registered lower index figures compared to September! This is probably why the euro is trading lower against its major counterparts including the U.S. dollar. EUR/USD 1-hour Forex Chart by TradingView No wonder EUR/USD, which got a boost from a pullback from the U.S. bond yields (and lower USD) as well as marginal improvements in the Israel-Hamas conflict, turned…
EUR/USD 1-minute chartThat translates to roughly a 30-pip drop after a slight nudge higher on the French PMI headline i.e. services sector beat. But the details continue to highlight problematic issues with the euro area economy as a whole – in particular Germany. Consumption activity is declining and alongside extremely poor manufacturing sector activity, a recession looks to be underway for the region’s biggest economy.While EUR/USD has fallen, it has only served to erase the gains for the day as the pair now trades around 1.0660-65. The dollar is also considerably weak amid falling yields, so there’s that to offset…
Considering advanced prints from CME Group for crude oil futures markets, open interest resumed the downtrend on Monday, shrinking by nearly 10K contr Source link
© Reuters. FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo By Kevin Buckland TOKYO (Reuters) – The Bank of Japan announced an unscheduled bond operation on Tuesday, as it sought to slow a rise in Japanese government bond (JGB) yields that had brought them to fresh decade highs. Japan’s central bank offered to buy 300 billion yen ($2.00 billion) in bonds with maturities of five to 10 years and 100 billion yen worth with maturities of 10-25 years from Wednesday. That was in addition to…
Logitech Non-GAAP EPS of $1.09 beats by $0.45, revenue of $1.06B beats by $83.29M Source link
#ExxonMobile, Weekly ExxonMobil Corp. is scheduled to report its earnings on Friday [27/10], before market open. The report will be for the fiscal quarter ending September 2023. The $433.74 billion market cap company is currently one of the largest publicly traded multinational oil and gas companies, with the largest petroleum and chemical products marketing and refining operations in the world. The company has long been considered a blue-chip stock as it is an established and financially sound company. Exxon earlier this month confirmed the acquisition of Pioneer Natural Resources (PXD) in a $59.5bn deal that is said will transform its…
Jibun / S&P Global Preliminary October PMIs for Japan:Manufacturing 48.5 vs. 48.5 priorquickest fall in 8 monthsServices 51.1 vs. 53.8 priorComposite 49.9 vs prior 52.1lowest since December 2022 This article was written by Eamonn Sheridan at www.forexlive.com. Source link