Author: FX
The US Dollar is weaker, after the ADP employment data report lowered the odds of the Fed raising interest rates later in the year. This favoured the Japanese Yen temporarily, although it is too early to conclude that, given that there is still important economic data throughout October that will be important inputs for the BOJ. Nonetheless, the Yen rose past 149.00 per dollar, climbing further from 11-month lows. The Yen also saw a 1.7% rise earlier this week to 147.28 which traders attributed to potential government intervention, before giving back most of those gains. Meanwhile, the BOJ’s latest money…
Stock futures inched lower in premarket activity on Thursday as market participants await key jobs data.BlackBerry (NYSE:BB) shares surged over 4% after the company announced plans to separate its Internet of Things (IoT) and cybersecurity businesses into two independently operated entities. The decision follows a strategic assessment of its portfolio conducted in May with Morgan Stanley and Perella Weinberg Partners.Orchard Therapeutics (NASDAQ:ORTX) jumped 94% after Kyowa Kirin (OTCPK:KYKOF), a specialty pharmaceutical company based in Japan, announced its acquisition of Orchard Therapeutics for approximately $387.4M in cash. Orchard shareholders will hold an additional contingent value right of $1.00 per ADS, totaling…
Article by IG Chief Market Analyst Chris BeauchampDow Jones 30, DAX 40, Nasdaq 100 Analysis and ChartsDow fails to build on Wednesday’s recoveryThe index rallied off its lows yesterday, after heavy losses on Tuesday and Wednesday.Bulls now need to push the price back on above 33,230 to indicate that a low might be in. This might then allow the index to push on toward the 200-day simple moving average (SMA).Intraday charts show the downtrend of the past month remains intact, and a lower high appears to be forming around 33,130. Continued declines target the May lows around 32,670.Dow Jones 30…
© Reuters. Indonesia’s Directorate General of Civil Aviation and Boeing Company (NYSE:) have entered into a comprehensive Memorandum of Understanding (MoU). The agreement, signed by M. Mauludin and John W. Bruns in Boeing’s newly inaugurated Jakarta office, aims to foster economic and technological growth in the Indonesian aviation sector. The MoU addresses critical industry issues like supply chain management, human resources, technological innovation, and aircraft maintenance, while also seeking to expand the civil aviation system. The new agreement builds upon a 75-year-old cooperative relationship between Boeing and Indonesia, setting a new benchmark in the sustainable development of the country’s aviation…
In case you weren’t around during the U.S. session, you should know that the U.S. dollar is pulling back some of its gains after the U.S. ADP report disappointed the market’s expectations. Of course, it’s also possible that USD bulls used the report to take some of their profits off the table ahead of the U.S. NFP release. EUR/USD found support around the 1.0450 new intraweek lows and is currently trading closer to the 1.0500 major psychological handle. Is this the start of EUR/USD finally ending its months-long downtrend? Or is EUR/USD just taking a breather before it extends its…
Rebounding from some pivotal, psychological levels, the vast majority of world equity indices rose yesterday, helped by a decrease in yields. Buying in the US intensified in the last minutes of trading led by large-cap techs such as TSLA (+5.93%), MSFT & AMZN. US500 was up 0.8%, its largest rise in 3 weeks and US100 settled +1.5% at the end of the day. As mentioned above, after reaching a high of 4.88% during the Asian session, the 10Y benchmark was lower later in the day, ending the day almost 15 bps lower. Part of this was due to the rather…
German DAX futures +0.4%UK FTSE futures +0.4%European indices ended yesterday in a more tepid fashion, missing out on the gains in US stocks after. So, this is in part a catch up to that considering the more tentative mood in US futures currently. S&P 500 futures are down 0.1% as we look to get things started on the session. Source link
Share: Considering advanced prints from CME Group for gold futures markets, open interest rose by just 9 contracts on Wednesday following the previous daily pullback. On the other hand, volume shrank by nearly 21K contracts, keeping the choppy activity well in place for yet another session. Gold: Support emerged around $1815 Gold prices charted an inconclusive session on Wednesday. The move was on the back of a marginal uptick in open interest and shrinking open interest, leaving the outlook unclear for the time being. In the meantime, the recent sharp sell-off in the yellow metal seems to have…
NZD/USD, GBP/NZD, NZD/JPY – Outlook:NZD/USD is holding above key support after RBNZ held rates steady.GBP/NZD has pulled back from stiff resistance; NZD/JPY’s range appears to be reinforced.What is the outlook and the key levels to watch in NZD/USD, GBP/NZD, and NZD/JPY? Recommended by Manish Jaradi Get Your Free Top Trading Opportunities Forecast The New Zealand dollar appears to be holding above strong support against the US dollar even as the Reserve Bank of New Zealand held interest rates steady at its meeting on Wednesday.The New Zealand central bank held benchmark rates steady at a 15-year high, in line with expectations,…
© Reuters. Investing.com – Crude prices rose cautiously Thursday as longs hammered in the previous session tried to cover some of their losses by buying in at the lower levels. Short-covering by some bears closing out their positions for profit and bargain hunting by new buyers for oil at below $90 a barrel also helped prop a market that saw its worst plunge in a year on Wednesday for both U.S. West Texas Intermediate, or WTI, crude and London’s Brent oil. In Asia’s morning session, for delivery in November was up 31 cents, 0.4%, to $84.53 by 10:13 in Singapore…