Author: FX
TD analysts are forecasting the Reserve Bank of Australia have reached the peak of the cash rate. The analysts concede there is still the possibility of a November rate hike:Should the labour market remain firm and there is evidence that higher labour costs are being passed throughAnd add further cash rate upside risks come from higher property prices supporting consumption (through the wealth channel) and higher oil prices. TD concludes with the implications of the terminal rate having been reached:Given our view the RBA cash rate peaks earlier and lower than our prior 4.85% forecast, the RBA is therefore expected…
Share: WTI prices finds some support above $82.00 during the early Asian session on Monday. The IEA forecasts a 2.2 million bpd increase in demand in 2023; OPEC anticipates a 2.44 million bpd increase. The Chinese data released last week raised concern about the pace of China’s post-pandemic recovery. Oil traders will closely watch US Retail Sales, FOMC Minutes, API/EIA oil data. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $82.30 mark so far on Monday. The deflation in China exerts some selling pressure on oil price. Meanwhile, the positive outlook of the Organisation…
Who’s ready for the next central bank decision? Can’t get enough of central banks updating their monetary policies? The RBNZ is up this week so you better prepare if you plan on trading NZD soon! Events in Focus: Reserve Bank of New Zealand Monetary Policy Statement When Will it Be Released: August 16, Wednesday: 2:00 am GMT; presser to follow at 3:00 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: RBNZ is likely to keep its interest rates unchanged at 5.50% RBNZ policymakers are expected to follow their counterparts and decide…
SEOUL (Reuters) – North Korean leader Kim Jong Un visited key military factories, including a tactical missile production plant, state media KCNA said on Monday. Kim “expressed satisfaction” with a factory’s “recent focus on tactical missile production” and “expanding production capacity” during his visits last week, it said. He “presented a significant goal” to improve missile production, praised the latest operability of howitzer shells, and personally drove a combat armoured vehicle, KCNA said. This is the latest in a string of visits by Kim Jong Un to defense facilities, where he has emphasized mass production of weapons. The United States…
Sachem Capital Q2 2023 Earnings Preview Source link
This is the first report of a Russian warship attacking a merchant ship with ‘warning shots’ in the Black Sea. The Russian ship fired on the merchant ship beyond Ukraine in the southwestern Black Sea. In July Russia reneged on its agreement to a UN-brokered grain deal, the Black Sea grain deal that allowed Ukraine to export agricultural produce via the Black Sea. More at Reuters. Source link
Bet_Noire/iStock via Getty Images A recently introduced piece of legislation in the House that would allow drug price negotiations and inflation rebates on behalf of those with private insurance could potentially harm pharma companies’ bottom line. The Lowering Drug Costs for American Families Act (H.R. 4895), introduced by a trio of Democrats — Frank Pallone (N.J.), Richard Neal (Mass.), and Robert Scott (Va.) — in late July aims to expand drug cost relief measures for Medicare seen in the Inflation Reduction Act to those insured privately. If passed by the House and Senate and signed into law, it could potentially…
Recommended by Daniel Dubrovsky Get Your Free USD Forecast The US Dollar outperformed its major counterparts this past week, with the DXY Dollar Index gaining over 0.8 percent. In fact, the DXY just wrapped up its 4th consecutive weekly gain. The last time the same winning streak occurred was back in February. A 5th push higher would mean the most consecutive performance since May 2022.Headline US inflation ticked slightly higher in July, although it was slightly lower than expected. Meanwhile, robust growth estimates from the Federal Reserve for the immediate quarter ahead coupled with commentary from policymakers pushed financial markets…
© Reuters. Israel stocks lower at close of trade; TA 35 down 1.03% Investing.com – Israel stocks were lower after the close on Sunday, as losses in the , and sectors led shares lower. At the close in Tel Aviv, the lost 1.03%. The best performers of the session on the were Shapir Engineering Industry (TASE:), which rose 0.19% or 5.00 points to trade at 2,575.00 at the close. Meanwhile, Israel Discount Bank Ltd (TASE:) added 0.05% or 1.00 points to end at 1,875.00 and Teva Pharmaceutical Industries Ltd (TASE:) was up 0.03% or 1.00 points to 3,625.00 in late…
Zerbor The pace of quarterly releases slows down over the next week, as earnings season begins to lose momentum. However, key reports from a number of closely watched companies are still due out. Investors are eagerly anticipating important announcements from prominent retailers such as Walmart (NYSE:WMT), Home Depot (NYSE:HD), Ross Stores (ROST), TJX (TJX), and Target (NYSE:TGT), providing valuable consumer insights. Furthermore, the week will also feature earnings results from Applied Materials (AMAT), Agilent Technologies (A), Cisco Systems (NASDAQ:CSCO), Deere (NYSE:DE), Canoo (GOEV), Bilibili (BILI) and Palo Alto Networks (PANW). Below is a rundown of the major quarterly updates anticipated…