Author: FX
© Reuters. MILAN (Reuters) -Shares of German automakers weighed on Europe’s auto index on Thursday on concerns they could be the worst hit should Beijing retaliate if the EU decides to impose tariffs on imported Chinese electric vehicles. Beijing blasted the planned probe as protectionist and warned it would damage economic relations, prompting fears that the country could put up its own trade barriers limiting German car exports to China, already on a downward spiral. Alternatively, punitive tariffs on imports from China could accelerate Chinese EV makers’ plans to build in Europe, analysts said, raising competition for domestic carmakers. Aided…
Headlines:Markets:AUD leads, GBP lags on the dayEuropean equities slightly higher; S&P 500 futures up 0.4%US 10-year yields up 1.4 bps to 4.262%Gold up 0.1% to $1,907.80WTI crude up 1.3% to $89.67Bitcoin up 0.5% to $26,362Major currencies didn’t do a whole lot today, as traders are waiting on the ECB decision and some major US data to come later.There wasn’t much conviction overall, with the dollar keeping more mixed and light changes being observed for the most part – continuing from the dull action after the US CPI report yesterday.Some China headlines kept things interesting as the PBOC cut RRR again…
Share: Natural Gas rallies to near $3 as Wheatstone production in Australia gets cut. The US Dollar trades sideways ahead of the ECB interest-rate decision. US Natural gas prices might be nearing their peak as analysts see weak demand ahead. Natural Gas prices are increasing again after fresh news from the Australian Wheatstone LNG production site from Chevron. Adding to the lingering union strikes, another 25% production cut at the facility has been announced due to a workers’ fault. It appears it will take a few days for the production cut to be resolved. In the lingering dispute…
GOLD OUTLOOK & ANALYSISUS inflationary pressures keep gold price subdued.Spotlight on US PPI, jobless claims and retail sales.Gold bears seek out $1900 support handle. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROPGold prices remain under pressure this Thursday after yesterday’s US CPI report showed elevated headline inflation despite a softer core inflation read. This translates through to sustained tight monetary policy by the Federal Reserve. Energy was the primary contributor to the higher headline figure and with crude oil prices expected to remain buoyant, the ‘higher for longer’ narrative is gaining traction. There may not be…
Yo, AUD/JPY looks ready to extend a short-term trend after Australia printed its labor market numbers! In case you missed it, Australia released a report that showed the country’s unemployment rate remaining at 3.7% in August. A net of 64.9K jobs was added, better than the 25.4K expected and July’s 1.4K net job losses. But the devil in the details caused some discomfort for AUD bulls. For one thing, part-time employment made up 62.1K of the 64.9K job increases for the month. Monthly hours in ALL jobs also declined by 0.5% in August. Not good if the RBA is looking…
Innate Pharma GAAP EPS of €0.02, revenue of €40.2M Source link
2/2 © Reuters. DBS CEO Piyush Gupta speaks during a Reuters Newsmaker event in Singapore September 14, 2023. REUTERS/Mindy Tan 2/2 By Yantoultra Ngui HONG KONG (Reuters) -DBS Group’s wealth management business has benefited from inflows from across Asia, the Middle East and European regions recently, Chief Executive Piyush Gupta said on Thursday. Gupta, speaking at a Reuters Newsmaker event in Singapore, added that the bank expected net inflows to be ‘pretty strong’ going forward. He said wealth management was one of the best performing segments in the financial services sector and that the industry could support a high number…
This pair has been cruising lower on its hourly time frame but is currently stalling at an area of interest. Can bearish momentum return for EUR/NZD soon? Check out these nearby inflection points I’m watching. EUR/NZD 1-hour Forex Chart by TV EUR/NZD has formed lower highs and lower lows connected by a descending channel that’s been holding since late August. Price just bounced off the channel resistance and is now down to the mid-channel area of interest, which has held as support so far this month. If bearish momentum stays in play, the pair could carry on with its slide…
There has been some back and forth shifts in pricing on this over the past month, as seen here before the main event yesterday. But essentially, the aftermath just pretty much moves the Fed funds futures curve to almost exactly where we were a week ago.For now, the first rate cut is being factored in for June 2024. But over time, expect this key moment to perhaps be pushed back further so long as US economic data continues to stay more robust. Inflation, or at least the core reading, is still keeping on track and gradually making its way lower.…
Share: Netflix (NFLX) decline from 7.20.2023 high is unfolding as a double three Elliott Wave structure. Down from 7.20.2023 high, wave (A) ended at 411.88 and rally in wave (B) ended at 445.25. Wave (C) lower ended at 398.15 which completed wave ((W)). Rally in wave ((X)) ended at 453.53 with internal subdivision as a zigzag strcuture. Up from wave ((W)), wave (A) ended at 437.02 and pullback in wave (B) ended at 404.50. Wave (C) lower took the form of a 5 waves impulse which ended at 453.53 as the 30 minutes chart below shows. This completed…