Author: FX
The market is starting to price in a more hawkish path for the Fed as the economic data since the last FOMC meeting surprised consistently to the upside. Fed Chair Powell recently said that the majority of the FOMC expects two or more rates hikes this year if the data remains strong. On the other hand, the ECB has basically pre-committed for a rate hike in July but what they are going to do in September is a much bigger debate. In fact, recent economic indicators for the Eurozone started to disappoint by big margins and point to a recession…
Share: Key points Nike had a decent quarter, but margin pressure is still present, and the guidance is weak. Analysts support the bull case, but no upgrades or price target increases have emerged. Nike stock could fall 10% or more if support does not step in to buy the post-release dip. 5 stocks we like better than NIKE. Nike (NYSE: NKE) proved again that it can Just Do It when operating in an ever-changing business environment. The Q3 results and guidance prove the company’s resiliency but also give evidence of market shifts that could weigh on the action…
Are we about to see some Fourth of July fireworks from this dollar pair soon? Check out these USD/CAD levels I’m watching. As you can see from the 4-hour chart below, the pair recently tumbled below the floor around the 1.3350 minor psychological mark. Now price is in correction mode after pulling up from the 1.3120 lows and might find more sellers at this area of interest. USD/CAD 4-hour Forex Chart by TV Using the handy-dandy Fibonacci retracement tool on the latest downswing shows that the 38.2% level is right around the former support. A larger pullback could reach the…
Euro Vs US Dollar, British Pound, Australian Dollar – Outlook:EUR/USD’s range could continue for a bit longer.EUR/GBP and EUR/AUD’s rebound could be capped.What is the outlook and the key levels to watch in key Euro crosses? Recommended by Manish Jaradi Get Your Free Top Trading Opportunities Forecast The euro may have recouped some of its recent losses against some of its peers, but it would be premature to read the rebound as the start of a new leg higher for the single currency.EUR has gained against its peers in June following the European Central Bank’s (ECB) hawkish hike last month…
Wagner Meier/Getty Images News Petrobras (NYSE:PBR) said Monday its recent 10-year bond issuance, its first since 2021, beat expectations in raising ~$1.25B powered by strong demand. “From a qualitative point of view, the bond issue exceeded expectations. And also quantitatively because it had overbooking, it had important rate compression,” CFO Sergio Caetano Leite told Reuters, also noting 60% of orders came from investment funds, which he said was an important qualitative sign of the operation. The bonds mature in July 2023 with a 6.5% annual coupon and a 6.625% annual yield to investors, issuance was 3.4x oversubscribed and featured 327…
© Reuters. Investing.com– Gold prices steadied further above key support levels on Tuesday, but the yellow metal still remained under pressure as markets awaited more cues on monetary policy from the Federal Reserve this week. Bullion prices saw some relief over the past two sessions, after the Fed’s read lower than expected for May. But the central bank is still expected to hike rates in July. Substantially weaker-than-expected also ramped up fears of slowing growth, spurring some flows into gold. But despite recent gains, gold was still trading close to its weakest level in nearly four months. was flat at…
People’s Bank of China USD/CNY reference rate is due around 0115 GMT.The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2% and some think it could widen to 3% this year. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against…
Share: Japan’s top currency diplomat Masato Kanda said early Tuesday that he is communicating with various countries including the US over currencies, per Reuters. It’s worth noting that Japan Chief Cabinet Secretary Hirokazu Matsuno and Finance Minister (FinMin) Shunichi Suzuki have also recently flagged concerns about the Asian major’s market intervention as the USD/JPY stays near the multi-month high of around 145.00. Apart from the Japan intervention, US Treasury bond yields renew fears of recession and also weigh on the risk-barometer pair, not to forget the recently softer US data. However, the Bank of Japan’s (BoJ) defense of…
Privacy advocates scored a big win in June with Binance’s announcement that it was backtracking on a decision to delist privacy coins for users in a number of European countries. As a result of the move, users in Italy, Poland, Spain and France will be permitted to continue trading tokens including Zcash (ZEC), Monero (XMR), Decred (DCR), Horizen’s ZEN, Verge (XVG), (DASH), Secret (SCRT), Firo, Navcoin (NAV), MobileCoin (MOB), Beam and PIVX.ZCash’s price sank to a low of $21.70 a week after Binance’s May 31 threat to delist it — and rocketed back to $33 after the decision was reversed.…
BNY Mellon Short Duration Corporate Bond ETF declares monthly distribution of $0.1150 Source link