Author: FX
It’s gonna be another hectic week in the forex market, with a couple of central bank catalysts and the highly-anticipated U.S. NFP release. Will the RBA keep interest rates unchanged this time? And will the FOMC minutes have any surprises? Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the calendar this week: RBA monetary policy decision On Tuesday (July 4, 4:30 am GMT), Australia’s central bank will be announcing their interest rate decision, which might probably be to…
The second quarter has concluded with a further pull-ahead in risk sentiments last Friday, with the S&P 500 closing at its highest level in 14 months while the Nasdaq has turned in its second consecutive quarter of gains. Improving market breadth lately suggests that market gains have been broadening out, as a pushback in economic data against recession fears brought traction towards other economically sensitive sectors for some catch-up performance. The equal-weighted S&P 500 index is at its highest since February this year.Small-cap stocks have been seeing some signs of life as well, with the Russell 2000 index back to…
© Reuters. FILE PHOTO: The logo of InVivo is seen at the company’s headquarters in Paris, France, December 9, 2021. REUTERS/Sarah Meyssonnier/File Photo By Harish Sridharan (Reuters) – United Malt Group Ltd said on Monday it agreed to a A$1.5 billion ($999 million) takeover offer from Malteries Soufflet, a branch of French agribusiness InVivo, in a deal that will likely create the world’s top malt producer. The takeover would double the size of InVivo’s malt business three years earlier than planned, InVivo Chief Executive Thierry Blandinieres told Reuters when the offer was first announced in March. Shares of United Malt…
Japan flash PMIs for June 2023 are here. The ‘final’ for the month confirms the flash reading of a slide back into contraction in June. The contraction for Japan’s factory activity in June came after the PMI showed it expanding for the first time in 7 months in May.Comments from the Markit report:Both new orders and production levels, which make up 55% of the headline PMI figure, fell back into contraction territory. Weak demand for goods, especially semiconductors, alongside labour suitability issues weighed on sales and output volumes. The weakened demand and output conditions had a two-fold benefit in the…
Share: Gold Price marked three-week downtrend before bouncing off the key support, grinds higher of late. Hawkish Federal Reserve talks, United States growth numbers favor US Dollar and weigh on XAU/USD. Softer outcomes of Fed inflation gauge, mixed concerns about China prod Gold bears. Fed Minutes, US ISM PMIs and NFP will guide XAU/USD price. Gold Price (XAU/USD) remains sidelined around $1,920, struggling to extend the previous day’s recovery, after declining in the last three consecutive weeks while also posting the first quarterly loss in three. That said, the yellow metal’s latest recovery could be linked to the…
Sakorn Sukkasemsakorn With shortages in the U.S. labor market persisting, companies are looking to implement high, albeit cooling, pay raises for next year in a bid to attract and retain employees. For 2024, employee salary budgets on average are expected to increase 4.0%, according to a recent survey conducted by advisory, broking and solutions company Willis Towers Watson (WTW). While that forecast is smaller than the actual increase of 4.4% in 2023, it remains stronger than the 3.1% salary increase budgeted in 2021 and the decade before. “This shows that companies are striving to stay competitive in an ever-changing work…
4/4 © Reuters. People protest in front of Hotel Indigo as unionized hotel workers in Los Angeles and Orange County go on strike, in Los Angeles, California, U.S. July 2, 2023. REUTERS/David Swanson 2/4 LOS ANGELES (Reuters) – Thousands of hotel workers in Los Angeles, California, went on strike on Sunday morning as they pushed for better wages and benefits, kicking off what was expected to be one of the largest U.S. hotel strikes in recent history. Unite Here Local 11, which represents thousands of cooks, room attendants, dishwashers, servers, bellmen and front desk agents at hotels in Los Angeles…
cagkansayin/iStock via Getty Images Netlist (OTCQB:NLST) lost a request it made in a patent validity probe with the U.S. Patent and Trademark Office that had argued Google (GOOGL) was an interested party in a patent dispute with Samsung Electronics (OTCPK:SSNLF). Google is not a “real-party-in interest” in the matter, according to a filing from the USPTO on Friday. PTO Director Kathi Vidal was assessing whether Samsung-supplier Google (GOOGL) was a real interested party in a dispute over claim 16 in the ‘912 patent. If it was determined that Google was a real interest party, then Samsung would have been time-barred…
Recommended by Diego Colman Get Your Free USD Forecast Risk appetite improved further during the second quarter, as the U.S. economy defied expectations and held up remarkably well despite continued central bank tightening. The strength of the U.S. labor market kept household consumption levels stable, preventing, yet again, the onset of a recession. At the same time, the advent of “artificial intelligence” awakened animal spirits on Wall Street, sending stocks, particularly those in the tech space, to astonishing heights.When it was all said and done, the Nasdaq 100 rallied ~15%, extending gains from the previous quarter and capping its best…
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