Author: FX
South Korea’s factory output was weaker than expected in July. Industrial output index -2.0% m/m expected -0.4%, prior -1.5%the fastest monthly fall since FebruaryFor the y/y, -8.0%expected -5.2%, prior -5.9% This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Share: GBP/USD prods one-month-old descending resistance line at weekly top. Looming bull cross on MACD, steady RSI joins higher high formation to favor Cable bulls. 50-DMA acts as additional upside filter for the Pound Sterling buyers to cross. Pullback needs validation from five-month-old horizontal support zone. GBP/USD buyers attack a downward-sloping resistance line from late July as they await the key US inflation gauge while pausing the three-day uptrend amid early Thursday morning in Asia. In doing so, the Cable pair seesaws around the 1.2720 level while defending the previous week’s rebound from a five-month-old horizontal support zone.…
Sundry Photography CrowdStrike Holdings (NASDAQ:CRWD) shares fell around 1% in extended-hours trading even as the cyber security company reported second-quarter results and guidance that surpassed Wall Street’s expectations. For the period ending July 31, CrowdStrike earned 74 cents per share, excluding one-time items, as revenue rose 36.7% year-over-year to $731.6M. CrowdStrike (CRWD) ended the period with 37% growth in annual recurring revenue to $2.93B, including $196M in net new ARR during the quarter. It also had a record $245M in cash flow from operations during the period, along with a record $189M in free cash flow. A consensus of analysts…
US LABOR MARKET REPORT KEY POINTS:The U.S. Bureau of Labor Statistics will release its latest nonfarm payrolls survey on FridayThe economy is forecast to have created 170,000 jobs in AugustWith the Fed embracing a data-centric stance, the strength or weakness of the data will help guide the monetary policy outlook, setting the tone for the U.S. dollar, yields, and gold prices in financial markets. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar Crumbles; Unstoppable Nasdaq 100 Hits Key Level, Defying GravityDuring the…
© Reuters. Investing.com — The S&P500 rose Wednesday, to remain on course for a third-straight day of gains as further signs of weakness in the labor market and slower economic growth continued to support bets on a Federal Reserve pause next month. The rose 1% higher, the fell 0.7%, 230 points, was up 1.7%. Labor market weakness, slower Q2 U.S. growth buoy Fed pause bets The labor market, continued to show signs of slowing after data showed the economy produced fewer than expected jobs in August. ADP reported about 177,000 new private-sector jobs were created in August, well below 371,000…
A Reuters poll on the Bank of Canada:High risk that Bank of Canada will raise the key rate at least once more. 12 of 20 economistsBank of Canada to hold overnight interest rates steady at 5.0% on September 6. 31 of 34 economists.3 economists say a 25 basis point rate hike to 5.25% in September8 of 34 economists expect one more rate hike to 5.25% by the end of the year (up from 1 in the July poll)24 of 34 expect the central bank will keep its policy rate or higher until at least the end of 2024The median shows…
This upcoming NFP release might make or break September rate hike expectations! What are market analysts expecting? And how might USD pairs react? Here’s what to know when trading the U.S. employment report for August. Event in Focus: U.S. Monthly Employment Situation Summary from the U.S. government for August 2023 When Will it Be Released: September 1, Friday: 12:30 pm GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: U.S. Non-Farm Payrolls Change m/m: +180K forecast vs. +187K previous U.S. Average Hourly Earnings m/m: +0.3% m/m forecast vs. 0.4% m/m previous U.S. Unemployment…
Share: Pound Sterling jumps above 1.2700, supported by a risk-on mood. UK housing demand drops sharply due to rising mortgage rates. Investors hope that policy divergence between the Fed and BoE will vanish this month. The Pound Sterling (GBP) extends recovery swiftly as a higher risk appetite among market participants continues to improve the appeal for risk-sensitive assets. The GBP/USD pair remains well-supported as investors hope that the policy divergence between the Federal Reserve (Fed) and the Bank of England (BoE) will vanish this year. More interest rate hikes from the BoE are in the pipeline as the core Consumer…
OIL PRICE FORECAST:Most Read: What is OPEC and What is Their Role in Global Markets?Oil prices continued their advance this morning helped by geopolitical fears and depleting inventories. A slightly stronger dollar this morning also failed to arrest the rise in Oil prices ahead of a slew of US data. Recommended by Zain Vawda Top Trading Lessons OPEC, SAUDIA ARABIA AND GABON COUPThis morning news came through around a coup in Gabon who is a member of OPEC, albeit a smaller one. Concerns had been raised as to the production supply of Oil and any interruptions which may occur. Gabon…
GSAT, BBAI and EVTL are among pre market gainers Source link