Author: FX
gopixa RBC iShares said Tuesday it has launched five iShares exchange-traded funds that offer Canadian investors exposure to the global transition to a low-carbon economy, the semiconductor space, the aerospace and defense industry, and the U.S. financial sector. The new thematic ETFs will be managed by BlackRock (NYSE:BLK) Asset Management Canada and are expected to start trading on the Toronto Stock Exchange on Tuesday. Below are the five iShares funds along with their respective annual management fee: iShares S&P/TSX Energy Transition Materials Index ETF (XETM); 0.55%. iShares Semiconductor Index ETF (XCHP); 0.35%. iShares U.S. Aerospace & Defense Index ETF (XAD);…
RAND TALKING POINTS & ANALYSISChinese optimism unable to deter USD upside.US & Chinese economic data the focus for the week.USD/ZAR trendline resistance remains in tact for now. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/ZAR FUNDAMENTAL BACKDROPThe rand has given up some of its recent gains against the USD this Tuesday as key US economic data looms. Tomorrow’s US CPI (see economic calendar below) is expect to tick higher on the headline figure while many analysts anticipate a beat on the core print that could…
WASHINGTON (Reuters) – A group of six major trade groups representing the banking industry said Tuesday they believe a recent sweeping proposal to hike bank capital requirements violates federal law due to insufficient analysis and must be redone. In a letter sent to regulators, the group said the July proposal violates the Administrative Procedures Act because it lacked sufficient public data and analysis, and as a result it should be re-proposed. Source link
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid.Overall, the economic data started to surprise to the downside lately.Last week the ISM Services PMI and Jobless Claims surprised to the upside.The Fed members are leaning more towards a pause in September.The market doesn’t expect the Fed to hike at the September meeting, but there’s now a 50/50 chance of a hike…
Share: Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes EUR/GBP outlook ahead of the ECB meeting on Thursday. Thursday’s ECB meeting is a bigger driver of EUR/GBP than UK rate expectations UK labour market data paint a picture of rising unemployment, and rising wages. That’s not unusual – wage data will lag the employment series – but while it won’t prevent the market growing in confidence the next 25 bps hike (to 5 ½%) will be the last of this cycle. In the very near term, Thursday’s ECB meeting is a bigger driver of EUR/GBP than…
Article by IG Chief Market Analyst Chris BeauchampDow Jones, Nasdaq 100, CAC 40 Analysis and ChartsDow makes further gainsThe index has spent the past three sessions rallying from last week’s low and is now challenging the 50-day SMA from below. A close above 35,000 is critical to a renewed bullish view emerging, as this would signal that a higher low has formed in late August and early September, and could see a fresh move back to 35,600, the high from July.Sellers will need a close back below 34,280 in order to suggest that a new leg lower is developing.Dow Jones…
AdrianHancu/iStock Editorial via Getty Images A Mexican state governor has revealed that Tesla (NASDAQ:TSLA) and its suppliers will together invest ~$15B over the next two years in the gigafactory under construction in Nuevo Leon, as per a Reuters report. The investment is almost triple the amount that was previously announced by Mexican officials. “Just Tesla (TSLA) and its suppliers will generate an investment of $15B in two years,” said Nuevo Leon Governor Samuel Garcia at an event, adding that this “enormous amount” will necessitate increased state spending on roads and other public works. While Tesla (TSLA) has not announced a…
Earlier today, we found out that the unemployment rate in the U.K. ticked higher from 4.2% to 4.3% – the highest since late 2021 – in July even as the labor participation rate slipped from 79.1% to 78.9%. There were also 0.9K jobless claimants for the month, which is way lower than the 29K figure we saw in June. Full-time employment also increased by 24.42K after a sharp drop in the previous month. But what really got the investors’ attention was wage growth in the U.K., which remained at a record high of 7.8% y/y in the three months to…
© Reuters. FILE PHOTO: Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, Saturday, May 13, 2023. Shuji Kajiyama/Pool via REUTER By Yoshifumi Takemoto and Leika Kihara TOKYO (Reuters) -Influential ruling party lawmaker Hiroshige Seko signalled his abiding preference for an ultra-loose monetary policy on Tuesday, following hawkish comments by Japan’s central bank chief that pushed up the yen and bond yields. In an interview on Saturday, Bank of Japan Governor Kazuo Ueda said the central bank might have enough data by…
There aren’t any significant expiries to take note of for the day. As such, trading sentiment will revolve around the risk mood and bond market developments if anything else. That being said, it’s a quiet one today so there might not be much in it in terms of direction, as we await the US CPI report tomorrow.For more information on how to use this data, you may refer to this post here. Source link