Author: FX

Market RecapMajor US indices ended the day slightly underwater (DJIA -0.19%; S&P 500 -0.25%; Nasdaq -0.10%), as the US 10-year Treasury yields continue to head to its highest level in almost nine months, following through with the recent announcement that the US Treasury would boost its issuance of long-term debt this quarter. Recommended by Jun Rong Yeap How to Trade FX with Your Stock Trading Strategy The release of the US ISM services purchasing managers index (PMI) (52.7 versus 53 forecast) has been mixed as well, particularly with the renewed pull-ahead in services’ prices (56.8 vs 52.1 forecast) which suggests…

Gold, XAU/USD, US Dollar, DXY Index, Treasury Yields, GVZ, Fibonacci – Talking PointsThe gold price has been sidelined in a week of action elsewhereThe US dollar and Treasury yields have found firmer footing amidst the risk aversionVolatility has ticked up a notch. Does it imply a move ahead for XAU/USD? Recommended by Daniel McCarthy How to Trade Gold The gold price appears poised at a crossroads going into the weekend with the US Dollar firming as Treasury yields tick higher.An eventful week for markets may still have more to play out with non-farm payrolls data due out later today.The Fitch…

kodda/iStock via Getty Images The natural gas sector’s focus on liquefied natural gas exports should not overshadow the large and growing demand for gas for domestic consumption, Williams (NYSE:WMB) President and CEO Alan Armstrong said Thursday, according to S&P Global Platts. Armstrong noted record gas-fired power generation in July, continued growth of renewable sources’ share of generation, and the associated need for gas’ firmer attributes to compensate for renewable variability as evidence that LNG exports are only part of the demand equation, S&P Global reported. “The macro picture we’re seeing around electrification, and the amount of power demand increase that…

© Reuters. The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol By Jeffrey Dastin and Chavi Mehta (Reuters) -Amazon.com Inc on Thursday reported sales growth and profit that beat Wall Street’s expectations as the company delivered goods faster and more cheaply to shoppers while recent cloud-computing headwinds began to subside. Amazon (NASDAQ:)’s shares surged 9% on the news, extending its stock market value more than $120 billion in after-hours trading. Facing an array of challenges, the company has aimed to keep its mantle as the world’s biggest cloud provider…

Saudi Arabia announced on Thursday they’d be extending their output cut:ICYMI, Russian Deputy Prime Minister Alexander Novak jumped on the bandwagon:”Within the efforts to ensure the oil market remains balanced, Russia will continue to voluntarily reduce its oil supply in the month of September, now by 300,000 barrels per day, by cutting its exports by that quantity to global markets,” Russia had already committed to cutting its oil output by around 500,000 bpd from March until year-end.Oil price update: Source link

Share: EUR/USD falls to 1.0912 but rebounds before breaching 1.0900, trading at 1.0942 with a slight gain of 0.04% on Thursday. A potential doji formation shows market indecision; the pair might consolidate within the 1.0900/1.1000 range, with 100-day EMA at 1.0894 as a key support level. Resistance lies at 1.0971 (50-day EMA), with further upside targets at 1.1000, 1.1020 (29-day EMA), and 1.1100. Conversely, a breach below the 100-day EMA could lead to further losses toward 1.0833 and 1.0800. The EUR/USD fell to a one-month-low of 1.0912 but bounced before breaching below the 1.0900 figure and is gaining…

iShares Broad USD Investment Grade Corporate Bond ETF declares monthly distribution of $0.1690 Source link

National CineMedia (NCMI) Announces 1-for-10 Reverse Stock Split National CineMedia, Inc. (Nasdaq: NCMI) (“the Company”), the managing member and owner of National CineMedia, LLC (“NCM LLC”), the operator of the largest cinema advertising platform in the U.S., today announced it has effectuated a 1-for-10 Reverse Stock Split of its Common Stock. The Company’s Common Stock will automatically begin trading on a split-adjusted basis at the opening of the market on August 4, 2023, under the existing trading symbol “NCMI.” At the Special Meeting of Stockholders held on August 2, 2023, the Company’s stockholders approved a Reverse Stock Split at a…

EUR/USD & USD/JPY FORECAST:EUR/USD and USD/JPY will be very sensitive to the upcoming U.S. nonfarm payrolls reportMarket expectations suggest the U.S. economy created 200,000 jobs in JulyA strong headline print is likely to boost the U.S. dollar, weighing on the euro and the Japanese yen Recommended by Diego Colman Get Your Free USD Forecast Read More: US Jobs Report Preview: NFP Data to Shape Gold, US Dollar, and S&P 500’s OutlookThe U.S. Bureau of Labor Statistics will release its July nonfarm payrolls (NFP) report Friday morning. Based on Wall Street surveys, a notable 200,000 workers were hired last month at…

Factory orders rise 2.3% in JunePrior month 0.3%Factory orders 2.3% versus 2.2% expected. Best since June 2021Ex transportation 0.2% versus -0.4%Orders are up 6 of the last 7 monthsShipments of factory orders rose by 0.1%Unfilled orders of factory orders increase by 1.8%Inventories of factory orders was unchangedRevisions to durable goods – a component of factory orders showed:Durable goods orders 4.6% vs 4.7% preliminary. Best since mid-2020Durable goods Ex Defense 6.0% versus 6.2% preliminaryDurable goods ex Transport 0.5% versus 0.6% preliminaryNondefense capital goods orders ex air 0.1% versus 0.2% preliminary (proxy for capital investments by businesses)Shipments of manufactured durable goods increased…