Author: FX
© Reuters. UK veterinary services provider CVS Group Plc (LON:CVSG) reported a 9.8% rise in full-year revenue to £608.3 million on Friday, marking a significant milestone for the company. The underlying cash profits (EBITDA) also saw a 13% increase to £121.4 million, reflecting the higher revenue and investments made in facilities, technology, and staff. The company’s entry into the Australian market during the year was another highlight of its annual report. Despite economic uncertainties, the company’s vet practices are expected to deliver year-on-year growth in the new financial year. CVS Group also saw a 10% jump in revenues, which has…
GBP/USD News and AnalysisUK retail sales disappoint – sending GBP/USD lower in early trade on FridayGBP/USD bearish momentum likely to continue into the weekendUK PMI data up next, potentially adding to the sterling selloffThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Trading Forex News: The Strategy UK Retail Sales Disappoint in AugustUK retail sales largely failed to improve on July’s rain affected print as rising oil prices and weaker online contributed to the less than stellar results. Going forward, the…
We are yet to foresee inflation reaching 2% in a stable mannerJapan economy is recovering moderatelyWages and price setting behaviour has been more positive recently(clarifies about interview here) I said that we need to patiently continue easy policyOn that last point, it is pretty obvious that when there are high stakes on the line, he isn’t going to walk the talk. It definitely seems like the interview comment was directed to help the yen currency take a bit of a breather rather than stoke the flames of a policy pivot. Source link
Share: GBP/USD now looks at a potential drop to 1.2200, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: While we expected GBP to weaken yesterday, we were of the view that “1.2265 is likely out of reach.” GBP fell more than expected to 1.2231 before snapping back up and then closed at 1.2295 (-0.39%). The sharp rebound in oversold conditions suggests that GBP is unlikely to weaken much further. Today, GBP is more likely to trade in a range, probably between 1.2240 and 1.2340. Next 1-3 weeks: Yesterday (21 Sep,…
Where the euro bears at? EUR/GBP has gained enough bullish momentum to possibly hit a long-term resistance zone! Will the pair get rejected in the area? Or will we see new monthly highs for the pair? EUR/GBP Daily Forex Chart by TV If you’re not feeling like trading USD-related pairs today, then you’re in luck. We’ve got our eyes on EUR/GBP today! As you can see, the pair has been having a GREAT September, rising from its .8500 support levels all the way to its current prices near .8670. Before you buy more euros against the British pound, you should…
rarrarorro/iStock via Getty Images The Judo Bank Flash Australia Manufacturing PMI fell to 48.2 in September 2023, from 49.6 in the previous month, flash estimates showed. It pointed to the lowest reading in 4 months, indicating continued deteriorating business conditions across the sector. A sharper fall in new orders led to manufacturing output shrinking for a tenth straight month in September. The Judo Bank Australia Services PMI increased to 50.5 in September 2023, from 49.6 a month earlier, a preliminary estimate showed. It pointed to the highest reading since May as incoming new business, including new business from abroad, increased…
US Dollar, Japanese Yen, USD/JPY, Bank of Japan – Talking Points:BOJ kept negative rates on hold.JGB 10-year yield target and band maintained.What is the outlook for USD/JPY and what are the signposts to watch? Recommended by Manish Jaradi How to Trade USD/JPY The Japanese yen tumbled against the US dollar after the Bank of Japan (BOJ) kept its ultra-loose policy settings and maintained the target around 0% and the cap of 1.0% for the 10-year bond yield.The Japanese central bank was widely expected to keep its policy settings unchanged at the two-day meeting as policymakers wait for more evidence of…
© Reuters. FILE PHOTO: The elements of Gallium and Germanium are seen on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration BEIJING (Reuters) – U.S. semiconductor wafer maker AXT (NASDAQ:) Inc said its Chinese subsidiary Beijing Tongmei had received initial export permits for shipping gallium arsenide and germanium substrates – compounds key to chipmaking – to certain customers. Tongmei will continue to work to obtain permits for additional customers, it said in a statement on Wednesday. California-headquartered AXT, which has manufacturing facilities in China, said in July that it would seek permits to keep…
Market sentiments continue to reel in from the post-Fed meeting jitters (DJIA -1.08%; S&P 500 -1.64%; Nasdaq -1.82%), as the US 10-year Treasury yields rose to another fresh 17-year high near the 4.50% handle amid a high-for-longer rate outlook. Some resilience in the US labour market, reflected from lower-than-expected read out of US jobless claims overnight, just provided more room for the Fed to retain its hawkish stance further.For now, while Fed funds rate futures continue to reflect some doubts that the Fed may not follow through with its final rate hike this year, the timeline for rate cuts are…
Previews of the September Bank of Japan Monetary Policy Statement due today can be found here:ING have some insightful comments on what is likely today. The CPI data earlier has set the scene:Consumer price data for August was quite a bit stronger than early Tokyo inflation data suggested.Strong entertainment price gains in particular point to private service prices coming under more upside pressures. As core inflation is a better indicator of demand-side inflationary pressures, we think the BoJ will adjust its policy stance before too long, so that high inflation does not hurt growth.And for the bank’s Statement and Ueda…