Author: FX

The piecemeal approach to China stimulus hasn’t impressed the market yet but today’s announcements on mortgages have captured more of the market’s attention.The yuan is trading at a two-week high after a series of steps on mortgages.USDCNY dailyThe PBOC today said existing mortgage rates would be lowered from Sept 25.The new rules say down-payments for first homes should be no less than 20% and down-payments for second homes no less than 30%. For second home purchases, the rate floor is now no lower than LPR +20bps while on first homes it’s LPR -20bps.The PBOC said lowering existing mortgages rates is…

EURO AREA INFLATION KEY POINTS:Key News and Data Releases this Week, Download Your Free Guide for Tips on News Trading. Recommended by Zain Vawda Trading Forex News: The Strategy The core inflation rate in the Euro Area (filters out volatile food and energy prices) cooled coming in at 5.3% from a previous 5.5%. Core inflation had been a sticky issue for the ECB and the drop will be welcome even though the figures are still some way off the Central Banks overall target.For all market-moving economic releases and events, see the DailyFX CalendarThe YoY inflation rate held steady at 5.3%…

olrat Microsoft (NASDAQ:MSFT) said it will unbundle Teams from its Office product and make it easier for rival products to work with its software in an effort to address European competition concerns. In July, the European Commission, or EC, said it opened a formal investigation to check if Microsoft may have breached EU competition rules by tying or bundling its chat and video app Teams to its suites for businesses Office 365 and Microsoft 365. In July 2020, Slack Technologies — the workspace messaging app owned by Salesforce (CRM) — filed a complaint alleging that Microsoft illegally tied Teams to…

4/4 © Reuters. Firefighters work at the scene of a deadly blaze in the early hours of the morning, in Johannesburg, South Africa August 31, 2023. REUTERS/Shiraaz Mohamed 2/4 JOHANNESBURG (Reuters) -At least 63 people were killed and 43 injured on Thursday in a fire in the central business district of South Africa’s biggest city of Johannesburg, the municipal government said. Search and rescue efforts were going on, the city administration said on the platform X, formerly known as Twitter. “The City of Johannesburg Emergency Management Services can confirm that the number of fatalities has gone up to 63,” it…

EUR/JPY has been making higher highs and higher lows since finding support from the 157.00 psychological handle. Can the pair extend its uptrend with today’s potential catalysts? We’re taking a closer look at the 15-minute chart: EUR/JPY 15-Minute Forex Chart by TV If you’ve been looking at EUR/JPY’s short-term charts, then you’ll know that the pair has been trading in an uptrend since late last week when European Central Bank (ECB) President Lagarde kept the door open for further rate hikes in her Jackson Hole speech. This week’s reports from the region are mostly supporting the ECB’s hawkish bias. Spain’s…

German DAX futures +0.1%UK FTSE futures +0.1%Looking over to US futures, Dow futures are up 0.2% so that is helping with the mood while S&P 500 futures and Nasdaq futures are flat at the moment. It is a steadier mood overall in markets to start the session but all eyes will be on US data later on for more clues about broader market sentiment. Source link

Share: USD/RUB edges higher to 96.40 amid the depreciation of the Russian Ruble. The Russian Ruble devalued to a 16-month low due to the economic challenge in Russia. Markets believe that the Federal Reserve (Fed) might end the tightening policy sooner than expected. Traders will monitor US inflation data ahead of the US Nonfarm Payrolls. USD/RUB gains momentum for the third consecutive day during the early European session on Thursday. The pair currently trades near 96.40, up 0.27% on the day. The Russian Ruble devalued to over 96 against the US Dollar, a 16-month low due to the…

Market Recap Recommended by Jun Rong Yeap Get Your Free Equities Forecast Wall Street headed higher for the fourth straight day, but this time with more measured gains as some reservations kicked in ahead of the US core Personal Consumption Expenditures (PCE) data release later today. Current consensus are for a stronger growth in the headline figure to 3.3% year-on-year (YoY) from previous 3%, along with the core aspect to 4.2% YoY from previous 4.1%. Therefore, while the broader trend for US inflation is still to the downside, there may be concerns that any persistence in pricing pressures reflected may…

© Reuters. FILE PHOTO: A worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory, as the country is hit by the novel coronavirus outbreak, in Hangzhou, Zhejiang province, China March 2, 2020. China Daily via REUTERS/File Ph BEIJING (Reuters) -China’s manufacturing activity contracted for a fifth straight month in August, but at a slower than expected pace, an official factory survey showed on Thursday, maintaining pressure on Beijing to step up policy support for the stuttering economy. The official purchasing managers’ index (PMI) rose to 49.7 from 49.3 in July, according to…

Zhanna Hapanovich/iStock via Getty Images Shareholders of Chinese automation control system firm Hollysys Automation (NASDAQ:HOLI) are pushing for the company to hold special shareholder vote amid takeover offers for the company, according to reports from Bloomberg and Reuters. The shareholders, who own 32.2% of Hollysys (HOLI) shares outstanding, are frustrated that although the board has received takeover offers, it has yet to start a sales process, according to a Reuters report earlier Wednesday, which cited people familiar with the matter and a letter viewed by the publication. The letter was sent to the automation control system company on behalf of…