Author: FX

James Rolevink/iStock Editorial via Getty Images AeroVironment’s (NASDAQ:AVAV) stock jumped 14% to $108 a share in extended trading Tuesday after the maker of combat drones and other unmanned systems reported strong demand. Fiscal Q1 revenue rose 40% to $152.3 million, beating the average estimate among Wall Street analysts of $131 million. AeroVironment (AVAV) swung to a profit of $21.9 million, or $0.84 a share, from a loss of $8.4 million, or $0.34 a share, a year earlier. Adjusted EPS of $1 beat the consensus estimate of $0.30. The company’s funded backlog surged to $540 million from $424 million in the…

© Reuters. FILE PHOTO: Brazilian indigenous peoples gather as the Supreme Court on weighing the constitutionality of laws to limit the ability of Indigenous peoples to win protected status for ancestral lands, in Brasilia, Brazil August 30, 2023. REUTERS/Adriano M By Anthony Boadle BRASILIA (Reuters) – Brazilian President Luiz Inacio Lula da Silva on Tuesday officially recognized two Indigenous territories, granting them legal protection as reservations to defend against invasions by illegal loggers, gold miners and cattle ranchers. The announcement came on the day Brazil celebrates its Amazon (NASDAQ:) region, home to the world’s largest tropical rainforest, the preservation of which is…

Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Japanese Yen Forecast: USD/JPY Blasts Off as Broader US Dollar Breaks OutAUD/USD SENTIMENT ANALYSISSentiment data from IG shows that 86.20% of traders are net long, with the bullish-to-bearish ratio standing at 6:25 to 1 at the time of writing. The tally of clients who are net long has increased by 15.15% since yesterday and by 8.53% over the previous week, while the number of net-short traders has decreased by 27.36% compared to the previous session and…

The Canadian dollar is undoubtedly a commodity currency and its largest export by far is crude oil. So why is oil at a 10-month high and the Canadian dollar at a 5-month low?Here are some of the things dragging down the loonie:Worries about global growth — predominately in China — weighing on commodity demand laterFear that a bubble in Canadian home prices is burstingExpectations that the Bank of Canada won’t hike rates this week and could be relatively quick to cutSigns that the Canadian economy is cooling rapidly, including a negative Q2 GDP print on FridayCanada is a poor place…

In a few days, China will publish its August inflation reports. Will it lead to more concerns over the economy’s growth? Let’s talk about what the markets are expecting and how the report can impact the Australian dollar: Event in Focus: China Consumer Price Index (CPI) and Producer Price Index (PPI) for August 2023 When Will it Be Released: September 9, 2023 (Saturday), 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Headline CPI m/m: +0.3% forecast vs. 0.2% previous Headline CPI y/y:  -0.4% forecast vs. -0.3% previous Headline PPI y/y:…

USD/JPY KEY POINTSThe U.S. dollar, as measured by the DXY index, gains on soaring yields, boosting USD/JPY to its higher level since November 2022The fundamental picture remains negative for the Japanese yen against the U.S. currencyThis article discusses the main technical levels of the USD/JPY pair that Forex traders should be aware of in the coming days. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Silver, Gold Price Forecast – Market Trend Hinges on Data, Key Levels in XAU/USDThe U.S. dollar index soared to…

Share: The NZD/USD lost nearly 1%, falling below the key level of 0.5900. The USD benefits from a cautious market sentiment. Factory orders decreased in the US in July at a higher pace than expected. The RBA held rates steady, just as expected. The NZD/USD faced selling pressure mainly driven by a stronger USD in a cautious market environment.  The US reported weak Factory Orders from July, which declined faster than expected but didn’t stop the Greenback’s momentum. On the other hand, alongside the AUD, the NZD is the worst performer of the session after the Reserve Bank…

First Pacific goes ex-dividend tomorrow Source link

By Joseph Ax (Reuters) -Alabama’s Republican-drawn congressional map illegally dilutes Black residents’ voting power, a panel of federal judges ruled on Tuesday, a boost for Democrats’ chances to win back a U.S. House majority in the 2024 election. The ruling is the second time the court has thrown out a congressional plan enacted by the Republican-controlled state legislature, and the three-judge panel wrote that it saw little reason to give lawmakers a third chance. Instead, a court-appointed special master will be tasked with drawing a new map ahead of next year’s election. “The law requires the creation of an additional…

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 tight.Overall, the economic data started to surprise to the downside lately.The Fed members are leaning more towards a pause rather than another rate hike.The market doesn’t expect the Fed to hike anymore.New Zealand:The RBNZ kept its official cash rate unchanged at the last meeting while stating that it will remain at the restrictive…