Author: FX
Policy will become more data dependent after rate hikes in June and JulyShould not hesitate to keep raising rates if inflation stays highUpward risks to inflation are expected to dominate policy in years to comePeak interest rates will have to be maintained for a long time to keep inflation in checkKnot is one of the more hawkish members but if there are signs that tighter financial conditions are impacting the economy (credit crunch, anyone?), surely they will relent on being too aggressive. Source link
Share: Today’s instrument is the Campbell Soup Co.‘s stock traded in NYSE exchange under the ticker CPB. Looking at the CPB‘s chart, we can see that it was lastly traded at around $50.60. Today, Campbell Soup Co. is announcing its quarterly earnings and if the market’s anticipation is positive, then we should see the price testing tis resistance level at around $52 and if it passes that level, then it could approach the next one at around $54, otherwise we could see the price testing its support level at around $50. Source link
The June 2023 BOC statement is comin’ right up! With the BOC likely to announce a “hawkish hold” and the RBNZ approaching the end of its hiking cycle, is NZD/CAD in for a breakdown soon? As you can see from the hourly chart below, the pair has formed lower highs and found support around .8130, creating a descending triangle. NZD/CAD 1-hour Forex Chart by TV Even though the BOC is widely expected to sit on its hands for this month’s policy meeting, many believe that officials could reiterate that they’re open to more tightening if inflation remains strong. If that’s…
EUR/USD ANALYSISGerman industrial production and Chinese balance of trade data places euro on the backfoot in early European trade.All eyes on ECB speakers today.Bearish pennant breakout looming. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro is down against the US dollar once more this Wednesday morning citing a significant miss on Chinese balance of trade for May – highlighting slowing global demand. Historically, the euro tends to be positively correlated to the Chinese economy hence the euro selloff. In addition, German industrial production echoed similar sentiments (see economic calendar below) missing forecasts and heightening recessionary…
Ryman Hospitality upsizes and prices public offering Source link
© Reuters. FILE PHOTO: Women work at a garment export factory in Hung Yen province, Vietnam December 30, 2020. REUTERS/Kham/File Photo/File Photo By Francesco Guarascio HANOI (Reuters) – The Organisation for Economic Cooperation and Development told Vietnam last week that handouts to big firms to offset higher levies under a global overhaul of tax rules would be problematic, a person familiar with the discussions said. Reuters exclusively reported last week that Vietnam was planning subsidies worth hundreds of millions of dollars to partly compensate multinationals with big investments in the country, including Samsung Electronics (OTC:) and Intel (NASDAQ:), for the…
Eamonn Sheridan Wednesday, 07/06/2023 | 02:05 GMT-0 07/06/2023 | 02:05 GMT-0 Richard Wagner is CEO of Morgan Stanley’s Australian office. He spoke with Bloomberg TV. He has an optimistic outlook on Reserve Bank of Australia rate hikes ahead. Says only one more hike coming. “It takes a few months for those rate rises to drain bank accounts so we’re really talking about a third-quarter phenomenon where the consumer will have adjusted significantly and then we’ll be on pause.” a number of consumer companies have recently announced earnings Earnings A company’s earnings represent its profits or net benefits as a result…
Share: Gold Price picks up bids to refresh intraday high, prints three-day uptrend despite mild weekly gains. Bullish chart formation, downbeat US Dollar allow XAU/USD bulls to keep the reins during sluggish session. US Dollar moves, risk catalysts and mid-tier China data eyed for immediate directions. Gold Price (XAU/USD) prints a three-day winning streak near $1,965 as the US Dollar remains depressed during early Wednesday. In doing so, the precious metal also cheers hopes of China’s more stimulus and the cautious optimism in the markets amid an absence of Federal Reserve (Fed) policymakers’ speeches due to the pre-FOMC…
tifonimages/iStock via Getty Images Consolidated Water (NASDAQ:CWCO) +6.7% post-market Tuesday after saying it signed a definitive agreement with the Honolulu Board of Water Supply to build and operate a seawater reverse osmosis desalination plant. The plant will be capable of producing potable water from saline source water derived from seawater wells, and it has guaranteed to deliver 1.7M gal/day of potable water to BWS’ water system on a 24/7 basis. The company said it expects revenue generated over the 24-year base term of the contract to total ~$204M in current dollars, including nearly $150M to be generated during the development,…
© Reuters. FILE PHOTO: TC Energy’s logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration By Nia Williams (Reuters) -Canada’s TC Energy (NYSE:) is cutting some jobs to “optimize value” a company spokesperson said on Tuesday, without giving details of how many positions have been impacted. News of the job cuts at TC Energy comes a week after Suncor Energy (NYSE:) told employees it would eliminate 1,500 jobs. Earlier this year, Imperial Oil (NYSE:) cut the number of contractors working at its Kearl oil sands project. A Calgary-based industry source said the number of…