Author: FX

GBP/AUD is not getting traction despite higher-than-expected CPI data from the U.K.! Will this lead to GBP/AUD starting a downswing in the next trading sessions? We know from earlier today that the U.K.’s consumer inflation remained high, with annual headline CPI remaining at 6.7% (vs. 6.6% expected) while the core figure only dipped from 6.2% to 6.1% when analysts saw it slipping all the way to 6.0%. A sticky high inflation supported hawkish calls for the Bank of England (BOE) and the British pound traded higher against its major counteparts. GBP/AUD 1-hour Forex Chart by TradingView Despite GBP’s strength, GBP/AUD…

Nomura is the latest to revise higher its forecast of the Chinese economy, expecting 2023 GDP growth to come in at 5.1% compared to 4.8% previously. They are not the first to do so in recent weeks with JP Morgan and ANZ also having done so already.The latest data from China does show some signs of stabilisation but I doubt we’ll see a drastic improvement in prospects considering that domestic demand remains in the dumps for now. Source link

Share: United Kingdom CPI increased 6.7% YoY in September vs. 6.5% expected. Monthly British inflation rose to 0.5% in September vs. 0.4% anticipated. GBP/USD closes in on 1.2220 on UK CPI inflation data. According to the official data published by the Office for National Statistics (ONS) on Wednesday, the United Kingdom’s (UK) Consumer Price Index (CPI) rose at an annual pace of 6.7% in September, at the same as seen in August. The data beat market expectations of a 6.5% rise. The Core CPI index (excluding volatile food and energy items) accelerated by 6.1% YoY in the ninth month…

Australian Dollar, US Dollar, AUD, US, China Data – Talking Points:The Chinese economy more than forecast in the third quarter.Industrial output, retail sales grew more than expected last month.What does this mean for AUD/USD?Looking for actionable trading ideas? Download our top trading opportunities guide packed with insightful tips for the fourth quarter! Recommended by Manish Jaradi Get Your Free Top Trading Opportunities Forecast The Australian dollar jumped against the US dollar after the Chinese economy grew more than expected in the July-September quarter.The Chinese economy grew 4.9% on-year in the July-September quarter, Vs 4.4% expected and 6.3% in the previous…

© Reuters. (Reuters) -Activist-investor Carl Icahn sued the board of directors at genetic testing company Illumina (NASDAQ:) and accused them of breaching their fiduciary duties, according to a sealed copy of the complaint on Tuesday. The publicly available version of the complaint did not contain further details, but Icahn told the 13D investor conference in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer detection test maker Grail. Illumina said it is reviewing the complaint, while Icahn and Grail did not immediately respond to Reuters requests for a comment. The gene-sequencing machine maker had…

RichLegg/E+ via Getty Images Update 9:20pm: Adds company comment. Logistics services provider Forward Air (NASDAQ:FWRD) rose 4% as activist investor Ancora Holdings argued that the company should terminate its planned purchase of Omni Logistics. Ancora Holdings, which has been an investor in Forward Air since mid-2020, argues that the Omini acquisition was “intentionally” structured to avoid a pre-closing shareholder vote. The Omni deal “introduces substantial earnings quality risk given a significant portion of its EBITDA is addback-related,” Ancora detailed in a presentation given at the 13D Monitor Active-Passive Summit in NYC on Tuesday. The Ancora presentation comes after Forward Air…

Five Eyes intelligence partners are holding a public summit in California.Five eyes are the intelligence organisations of the US, United Kingdom, Canada, Australia and New Zealand.Australian Security Intelligence Organisation director-general Mike Burgess:”We recognise nations will spy, we recognise nations will seek strategic advantage. “But what we’re talking about here, this is behaviour that goes beyond traditional espionage. The Chinese government are engaged in the most sustained, sophisticated and scaled theft of intellectual property and expertise in human history.”FBI director Christopher Wray says the Chinese Communist Party is the “number one threat to innovation”, arguing it had made economic espionage “a…

Share: Canadian Dollar slumped 0.65% from the day’s open after US Retail Sales beat the market. Canada CPI inflation missed expectations, but Loonie traders are shrugging off the miss as the US Dollar recedes across the board. Crude Oil spot prices are dipping for Tuesday, hobbling excess gains for the CAD. The Canadian Dollar (CAD) went V-shaped after markets saw a large run-up in the US Dollar (USD) ahead of Tuesday’s US Retail Sales reading, and a beat on the expected figure is seeing broad-market sentiment improving, sending the USD lower across the board, with the CAD shrugging…

We may see strong moves ahead from the Aussie with the latest employment situation update coming from Australia. Could that bring the bears back into the AUD/CHF downtrend? Or is there potential for the bulls to break the strong technical area of interest? AUD/CHF 1-Hour Forex Chart by TradingView What’s up Aussie traders! The forex calendar is showing us that volatility may pick up for Aussie pairs this week with the latest Australian jobs update hitting the wires on Thursday. Whether or not that will bring the bulls or bears out remains to be seen, and if you’re looking to…

Seeking another opportunity to trade the Aussie week? Well, you’re in luck because the action may get hot with the latest jobs data release from Australia coming right around the corner. Before you set up, check out the latest expectations on Australia’s job update and potential AUD reactions from traders! Event in Focus: Australia’s September Employment Data: Employment Change, Unemployment Rate When Will it Be Released: October 19, 2023 (Thursday) 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: 15K net jobs added for the month of September vs. 64.9K jobs…