Author: FX

The rand sold off towards the R19/$ resistance zone after raised US Treasury yields favored the USD. Source link

By Ali Sawafta RAMALLAH, West Bank (Reuters) – Saudi Arabia’s first ambassador to the Palestinians described a decades-old Arab land-for-peace offer on Tuesday as a pillar of any normalisation of ties with Israel, an apparent attempt to signal that Riyadh has not abandoned the Palestinian cause. Expectations of a landmark U.S.-brokered Saudi-Israeli deal have grown over the last week, though the timing and terms remain murky. Among complicating factors are calls by Riyadh and Washington for the Palestinians to make diplomatic inroads as part of any deal – a prospect unpalatable to Israel’s hardline coalition government. Saudi Arabia’s non-resident ambassador…

US:The Fed left interest rates unchanged as expected.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024.Fed Chair Powell reaffirmed their data dependency but added that they will proceed carefully as they are trying to find the optimal level of rates. Powell also added that the soft landing is not the base case at the moment, although they are aiming for it.The latest US CPI came in line…

Share: Dollar is probing November 2022 highs after tenth successively weekly gain. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes Greenback’s outlook. US to slip into recession in 2024 Shutdown and downgrade concerns, month and quarter-end, talk of the US economy growing forever and forcing the Fed to do more and inflation worries have all been cited as reasons for the latest lurch higher in US yields, but I’ll go on favouring the need to offer higher yields to attract sufficient money to finance an endless stream of Treasury auctions.  The world must reallocate more of…

Concerns over a “higher for longer” interest rate environment have pushed USD higher and “risky” assets like NZD lower today. How low can NZD/USD go? Lemme tell you all about the potential support zones that we’re eyeing: NZD/USD 1-Hour Forex Charts by TV There were not a lot of top-tier economic releases to shake the financial markets today but that doesn’t mean we didn’t see at least some volatility! In fact, there’s been a clear winner in the past couple of days. And no it’s not Donna Kelce, mom to TWO Super Bowl players and Taylor Swift’s new BFF. It’s…

SYDNEY (Reuters) – Popular Australian tourist destination Byron Bay will limit the availability of some properties for short-term holiday rentals, as authorities try to free up homes for residents amid a nationwide housing crisis. The New South Wales state government on Monday approved a request from the Byron Shire council to limit the short-term rents for some properties to 60 days per year to help boost the number of houses available for long-term stays. The decision comes days after Melbourne introduced the country’s first tax on Airbnb-like stays, which the authorities in Victoria said would go towards funding more social…

AzmanJaka/E+ via Getty Images Members of the Teamsters local at Waste Management (NYSE:WM) in Chicago voted in favor of a new five-year labor agreement, which the union said is “the richest ever negotiated by the 450-worker group and contains numerous improvements to benefits, contract language and working conditions.” Local 731 said it is negotiating agreements for more than 2,500 waste workers at other employers including Republic Services (RSG) and Waste Connections (WCN). The Waste Management (WM) contract marks the first group of workers to reach a deal in the Chicagoland area, the union said. Source link

Some verbal JPY intervention comments from Japan’s Finance MinisterCurrency rates should be set by the marketRapid FX moves undesirableClosely watching FX moves with a great sense of urgencyWon’t rule out any steps to respond to disorderly FX movesShare the view with international authorities that excessive FX volatility is undesierableSuzuki with the #1 ‘international authority’ he is liaising with. Source link

Share: EUR/USD trades around 1.0580 close to the lowest levels since March. ECB President Christine Lagarde stated that rates will remain restrictive for as long as necessary. Investors focus on upcoming economic data releases, seeking inflationary pressures in both economies. Cautious market sentiment and higher US Treasury yields are contributing support for the potential of the US Dollar (USD). EUR/USD continues to move on the downward path, trading lower around 1.0580 during the early trading hours of the Asian session on Tuesday. The pair has posted the lowest close on Monday since March despite the European Central Bank…

Femasys up 205% as FDA clears fertility treatment Source link