Author: FX
Share: The BoE delivered a 25 bps hike as expected, which is a bit of a double-edged sword for GBP, economists at TD Securities report. Setting the groundwork for terminal The MPC hiked 25 bps. Language around the hike suggests the MPC is preparing to reach a terminal rate soon; we continue to expect 25 bps hikes in both September and November, but the probability of a November hike, while still our base case, is now lower. We’re of the view that higher rates might not provide the best support, given the trade-offs between growth, inflation, and domestic housing…
POUND STERLING TALKING POINTSBoE pushes rates to 5.25%.Incoming economic data will be more crucial than ever moving forward.GBP struggles to find a bid post-announcement. Recommended by Warren Venketas Get Your Free GBP Forecast GBP/USD FUNDAMENTAL BACKDROPThe Bank of England (BoE) decided to hike interest rates by 25bps (see economic calendar below) in line with consensus although probabilities for a 50bps increment gained traction prior to the announcement. Taking into account this mornings slump in services PMI’s as well as the recent drop in inflationary pressures, the British pound has been on the backfoot of recent. Coupled with the risk off…
Teleflex Non-GAAP EPS of $3.41 beats by $0.20, revenue of $743.3M beats by $13.41M Source link
© Reuters. FILE PHOTO: An aerial view of traffic on a street in the capital Niamey, Niger July 28, 2023. REUTERS/Souleymane Ag Anara NIAMEY/ABUJA (Reuters) – West African defence chiefs conclude a two-day meeting on Thursday that is discussing last week’s coup in Niger – talks they have promised will send a strong message about their intolerance for unconstitutional takeovers. The Economic Community of West African States (ECOWAS) has unleashed sanctions, threats of military intervention, and diplomatic overtures in its push to restore the presidency of President Mohamed Bazoum. It is not clear whether the defence chiefs’ meeting in the…
EUR/JPY looks ready to bust out of a tight consolidation! Will today’s market themes inspire a short-term bearish reversal for the pair? In case you missed it, government bonds (and other risk assets, for that matter) have NOT been having a good week since Fitch downgraded the U.S. sovereign credit grade from AAA to AA+. It doesn’t help the euro that the Eurozone has been printing mixed PMIs while headline inflation estimate in the region supports less rate hikes for the European Central Bank (ECB). EUR/JPY 15-min Forex Chart by TV The Bank of Japan (BOJ) isn’t shrugging off its…
Well, the calmer mood sure didn’t last long. After a surge higher in bond yields yesterday, we are seeing a continuation of that with 10-year Treasury yields climbing to their highest levels so far this year. Yields are up another 8 bps today to 4.16% currently, following yesterday’s hot ADP employment data.And this is perhaps what is weighing further on equities after the turn of the month decline and news of the US credit rating being cut yesterday. S&P 500 futures are now down 16 points, or 0.35%, while European indices are posting losses of around 0.9% to 1.1% currently.In…
Share: Open interest in gold futures markets increased by just 691 contracts after six consecutive daily pullbacks on Wednesday, according to preliminary readings from CME Group. Volume followed suit and went up for the second session in a row, this time by nearly 1.5K contracts. Gold: Next on the downside comes $1893 Wednesday’s downtick in gold prices was on the back of increasing open interest and volume, hinting at the idea that extra decline could be in the pipeline for the yellow metal in the very near term. Against that, the next support of note comes at the…
Hoping to catch a big breakout? Check out this potential trend forming on the 4-hour chart of GBP/NZD while it’s still early! The forex pair is just starting to close above the top of its ascending triangle pattern, hinting that a rally of the same height as the formation is in the works. GBP/NZD 4-hour Forex Chart by TV Now the triangle pattern spans around 2.0400 to 2.0900, so the resulting uptrend could last by roughly 500 pips if bullish momentum is sustained. Technical indicators are looking mixed for now, though. The 100 SMA is above the 200 SMA to…
BNY Mellon Municipal Bond Infrastructure Fund declares $0.04 dividend Source link
MEXICO CITY (Reuters) – A body was found stuck in a barrier of buoys installed by Texas authorities in the Rio Grande river, which straddles the U.S.-Mexico border, Mexico’s foreign ministry said on Wednesday while expressing fresh safety concerns over the floating fence. Authorities are working to identify the body found in the river and determine the cause of death, according to a statement from Mexico’s foreign ministry. The crossing is a popular area for migrants seeking to reach the United States. The Texan government installed the barrier last month and said at the time the buoys would “help deter…