Author: FX
da-kuk London -0.22% Germany +0.05% Germany’s industrial production drops 1.5% in June France +0.13% SNB total sight deposits w.e. 4 August CHF 492.9 bn vs CHF 490.1 bn prior The pan-European Stoxx 600 edged +0.13% higher, with sectors spread across losses and gains. Tech stocks moved from a negative start to trade up, while mining stocks declined. The Stoxx fell 2.4% last week, mirroring U.S. stocks. Coming up in the session: A rather empty calendar for today. All eyes set on consumer price index releases from China on Wednesday and the U.S. on Thursday. In the bond market, the U.S.…
Last Friday’s NFP may have spurred a dollar selloff, but can USD/JPY still find buyers at these correction levels? In case you missed it, Uncle Sam reported a meager 187K increase in hiring for July versus the estimated 205K gain while the June figure suffered quite the downgrade. This pair seems inclined to resume its climb, though, as the Fibonacci retracement levels might attract dollar bulls looking for a bargain. USD/JPY 1-hour Forex Chart by TV Price is finding support at the 38.2% Fib for now, and a bounce higher could take it back up to the swing high near…
© Reuters. The classic buy and hold, or hodl, approach to (BTC) outperformed most crypto funds by 68.8% in the first half (H1) of 2023. According to data from Switzerland-based investment adviser 21e6 Capital AG, on average, crypto funds generated returns of 15.2% in the first half of 2023, but BTC saw gains of around 84%. Directional fund strategy comparison H1 2023. Source: 21e6 Capital AGNon-direction crypto fund strategy comparison H1 2023. Source: 21e6 Capital AGContinue Reading on Coin Telegraph Source link
Are prices in the world’s two largest economies rising or falling enough to warrant intervention? We’ll get more clues this week when the U.S. and China print their latest inflation data. Meanwhile, the U.K. will publish its preliminary Q2 GDP reading. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the calendar this week: China’s inflation China – the world’s second-largest economy – has been seeing falling consumer prices for five consecutive months in June. China’s CPI came in…
The dollar is steadying itself after the fall last Friday and that comes as equities are also finding a little bit of a breather after a poor run to start August trading so far. Despite yields slumping at the end of last week, stocks could not get off the floor but US futures are pointing to a light bounce today.The non-farm payrolls didn’t really do much to alter the Fed pricing as seen here, but that’s essentially it. Traders are not pricing in a September rate hike just yet and the jobs report on Friday matches that sentiment. We’ll now…
Share: USD/CAD consolidates in a range around the 50% Fibo. through the Asian session on Monday. The fundamental backdrop favours bullish traders and supports prospects for additional gains. A sustained break below the 1.3225 area is needed to negate the near-term positive outlook. The USD/CAD pair kicks off the new week on a subdued note and oscillates in a narrow band around the 1.3370 area through the Asian session. Spot prices remain below a two-month peak touched on Friday and currently trade around the 50% Fibonacci retracement level of the May-July downfall. Despite signs that demand for workers…
An initial move higher in Wall Street last Friday eventually faded into the close (DJIA -0.43%; S&P 500 -0.53%; Nasdaq -0.36%), as market participants took the opportunity for further profit-taking into the seasonally weaker month of August.The focus was on the US July non-farm payroll report, which saw a miss in job addition for the second straight month (187,000 vs 200,000 consensus) but nevertheless, a downtick in unemployment rate (3.5% vs 3.6% consensus) and pull-ahead in wage growth (4.4% YoY vs 4.2% consensus) still denote signs of a tight labour market.The data may support soft landing hopes, but persistent wage…
© Reuters. FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File Photo By Florence Tan SINGAPORE (Reuters) – Oil prices extended gains on Monday to touch their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to keep supplies down for another month to tighten global markets further and support prices. futures rose 25 cents, or 0.3%, to $86.49 a barrel by 0023 GMT, while U.S. West Texas Intermediate crude was at $83.05 a barrel, up 23 cents, or 0.3%.…
helen89/iStock Editorial via Getty Images Authentic Restaurant Brands plans to buy Pollo Tropical restaurant parent Fiesta Restaurant Group (NASDAQ:FRGI) for $225M in a deal that could be announced as soon as Monday, The Wall Street Journal reported. The deal reportedly is worth $8.50/share, representing an ~8% premium to Fiesta Restaurant’s (FRGI) $7.86 Friday closing price. Fiesta Restaurant (FRGI) owns and operates 137 Pollo Tropical restaurants, plus 30 that are franchised, across the U.S., Puerto Rico, Panama, Guyana; total revenue rose ~8% in 2022 to $387.4M, but the company swung to a loss of $14.6M, compared with net income of $10.4M…
According to recruitment and employment Confederation and the accounting firm of KPMG, in August 2023, UK hiring witnessed its steepest decline since mid-2020, as employers hired fewer permanent staff through recruitment agencies due to economic concerns. The hiring rate fell to 42.4 the lowest since the 34.3 in June 2020 when the country was in a lockdown due to Covid 19 pandemicTemporary staff hiring usually increases when the outlook is uncertain. However, it showed the weakest growth in nine months, primarily as more individuals sought permanent positions. The survey results paralleled other indicators showing the labor market is loosening which…