Author: FX

JHVEPhoto/iStock Editorial via Getty Images Oxford Industries (NYSE:OXM) shares slid sharply in Wednesday’s extended trading after slashing earnings guidance. For the first quarter, the company notched $3.78 in adjusted earnings per share on $420M in net sales, the latter figure reflecting a 19% jump from the prior year quarter. Both figures edged analyst expectations set at $3.75 and $419.10M, respectively. Gross margin expanded 130 basis points year over year, but inventories jumped 32% from the prior year quarter. “Our strong brands, exceptional products, aspirational messaging and balanced mix of direct retail, ecommerce and wholesale allowed us to deliver solid results…

Feel like trading for some last-minute pips before the week ends? Canada is printing its labor market data on Friday! Here are points you need to know if you’re planning on trading the event: Event in Focus: Canada’s May Employment Data: Employment Change, Unemployment Rate When Will it Be Released: June 9, 2023 (Friday) 12:30 pm GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Net of 40,000 jobs added, slower than the 41,400 jobs added in April Unemployment rate to inch higher to 5.1% after remaining at 5.0% for five consecutive months…

GOLD AND SILVER FORECAST:Gold and silver prices slide as U.S. yields surge across the Treasury curveNon-yielding precious metals tend to perform poorly when higher nominal rates boost returns on competing assets, such as government bondsThis article looks at key XAU/USD’s levels to watch in the coming trading sessions Recommended by Diego Colman Get Your Free Gold Forecast Most Read: USD Wobbles but Outlook Brightens, EUR/USD & USD/JPY Embark on Divergent TrendsGold and silver prices fell on Wednesday, weighed down by soaring U.S. yields following Bank of Canada’s unexpected decision to resume its tightening campaign after a brief pause. In late…

2/2 © Reuters. Times Square in Manhattan is shrouded in haze and smoke which drifted south from wildfires in Canada, in New York City, New York, U.S., June 6, 2023. REUTERS/Maye-E Wong 2/2 By Ismail Shakil and David Ljunggren OTTAWA (Reuters) -Hundreds of uncontrolled forest fires blazed across Canada on Wednesday, threatening critical infrastructure, forcing evacuations and sending a blanket of smoky air wafting over U.S. cities. Wildfires are common in Canada’s western provinces, but this year flames have mushroomed rapidly in the country’s east, making it the worst-ever start to the season. About 3.8 million hectares (9.4 million acres)…

The US dollar didn’t stay down for long.USD/JPY is a good illustration of the rollercoaster in the forex market today as it sank in rapid fashion just ahead of 10 am in New York only to pull a U-turn and a rip to the highs of the day.USDJPY 5 minsWhat’s been tough for traders is that none of these moves came on any kind of fundamental news. The lone US release today was trade balance and it was close to estimates.The Bank of Canada hike may have led market participants to price in a higher chance of a hike from…

Share: The Bank of Canada (BoC) announced on Wednesday that it raised the benchmark interest rate by 25 basis points (bps) to 4.75% following the June policy meeting. This decision came in higher than the market expectation of 4.5%. In its policy statement, the BoC said that concerns have increased that Consumer Price Index (CPI) inflation could get stuck materially above the 2% target. On a dovish note, the BoC removed the April language about how the bank is prepared to raise rates further if needed. Although the BoC further noted that it continues to expect CPI inflation to ease to…

BoC RATE DECISION KEY POINTS:25bps Hike by the Bank of Canada as Excess Demand Looks More Persistent Than Anticipated.Underlying Inflation Remains a Concern as Evidenced by the Data in April.BoC Statement Did Remove the Language About How the Central Bank is Prepared to Raise Rates Further if Needed.To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Bank of Canada (BoC) has followed the RBA and delivered a 25bps hike…

Borqs Technologies receives extension to regain compliance with Nasdaq rules Source link

Eneco will use Tesla (TSLA) battery packs to build a 50 MW storage plant in Belgium Dutch energy company Eneco revealed Wednesday that it is planning to build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla (NASDAQ:) battery packs, its largest such project to date. The project will consist of 53 Megapack battery packs with the capacity to provide a continuous energy supply for 4 hours, accumulating a total of 200 megawatt hours. Storage projects like this are expected to gain increasing importance in the coming years as renewable energy increases its share of the European…

When it comes to forex trading, emotions can be both a trader’s greatest ally and their worst enemy. While a healthy dose of optimism and confidence can help traders make bold moves and seize opportunities, unchecked emotions can quickly lead to impulsive decision-making and a phenomenon known as “trading on tilt”. What does it mean to be “trading on tilt”? “Tilt” refers to the state of mind in which a trader is making decisions based purely on emotion, rather than rational analysis and a well-planned strategy. In everyday situations, making decisions “on tilt” may come in the form of eating…