Author: FX
People’s Bank of China USD/CNY reference rate is due around 0115 GMT.The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2% and some think it could widen to 3% this year. The PBOC governor on the weekend highlighted the trend towards more liberalization of FX.How the process works:Daily…
ismagilov ATS Corp. (ATS) (OTCPK:ATSAF), a Canadian provider of automation solutions, has launched an initial public offering in the US. ATS said in a statement that it planned to offer 6M shares which have yet to be priced. Underwriters would be granted a 30-day option to buy up to 900K additional shares to cover over-allotments. The company intends to list its shares on NYSE under the symbol ATS. The company’s shares will continue to trade on the Toronto Stock Exchange, where they closed at the equivalent of US$45.76 on May 19, according to an SEC filing. Goldman Sachs and JP…
Share: AUD/NZD has displayed a decent recovery after a sheer contraction in NZ Q1 Retail Sales to 1.4%. The RBNZ is expected to raise interest rates further by 25 bps to 5.50%. Australian Employment has been hit hard amid a slowdown in the economy due to higher interest rates. The AUD/NZD pair has shown a solid recovery above 1.0580 as Statz New Zealand has reported downbeat Q1 Retail Sales data. The economic data has contracted by 1.4% while the street was anticipating a contraction of 0.4%. NZ Retail Sales contracted by 0.6% in the last quarter of CY2022.…
aluxum Quanterix Corporation (NASDAQ:QTRX) added ~10% on Tuesday to reach the highest level in more than a year after Goldman Sachs upgraded it, citing its opportunity in the diagnostics market for neurological conditions such as Alzheimer’s. According to the analyst Matthew Sykes, QTRX, based in Billerica, Massachusetts, has a crucial role in the early stages of the blood-based diagnostics opportunity in Alzheimer’s. The company can also take early leadership in the diagnostics market for other neurological conditions such as amyotrophic lateral sclerosis, Sykes added, upgrading the stock to Buy from Neutral. “We believe there is additional discovery value in QTRX…
© Reuters. FILE PHOTO: The Virgin Orbit building is seen after the company paused operations last week, in Long Beach, California, U.S., March 22, 2023. REUTERS/Mike Blake WASHINGTON (Reuters) – Richard Branson’s bankrupt satellite launch firm Virgin Orbit said in a Tuesday court filing it plans to sell the bulk of its Long Beach, California headquarters, including its machinery and equipment, to small launch firm Rocket Lab for $16 million. Source link
EUR/USD FORECASTEUR/USD falls and tests trendline support amid broad-based U.S. dollar strengthThe recent jump in U.S. Treasury yields has reinforced the greenback’s recoveryThis article focuses on euro’s key technical levels to watch in the coming days Recommended by Diego Colman Get Your Free EUR Forecast Most Read: Gold Fades but Upside Still Favored as Debt-Limit Talks Hit Crunch TimeThe U.S. dollar has recently embarked on a strong recovery, driven by rising U.S. Treasury yields thanks to the exceptionalism of the U.S. economy. U.S. business activity and the labor market have held up remarkably well over the past few months despite…
USDCAD trades above 100/200 hour MAThe USDCAD USD/CAD The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh The USD/CAD is the currency pair…
GBP/USD Prices, Charts, and AnalysisIMF turning positive on UK growth.UK PMIs paint a further manufacturing-services divergence.US debt discussions continue as the clock counts down. Recommended by Nick Cawley Get Your Free GBP Forecast The International Monetary Fund (IMF) has performed a quick U-turn on the UK’s growth outlook and now sees the economy expanding by 0.4% in 2023. In January this year, the IMF predicted that the UK economy would contract by 0.6% in 2023, while just last month they predicted that the UK would contract by 0.3%. The IMF’s newfound confidence is based on falling energy costs, improved business…
cemagraphics Bank of America lifted estimates on Celsius Holdings (NASDAQ:CELH) after pointing to favorable Nielsen scanner trends in Q2. The Q2 sales estimate on Celsius Holdings (CELH) from analyst Jonathan Keypour and team now calls for North America sales of $252M to mark 73% year-over-year growth. The firm still sees adjusted gross margin of 42.0% for the beverage company in the quarter and pushed up its estimate for adjusted EBITDA to $31M from $24M. BofA kept a Buy rating on Celsius Holdings (CELH) and raised its price objective to $145. BofA’s Buy rationale on the stock: “Celsius’ broader demographic appeal…
2/2 © Reuters. FILE PHOTO: The logo of the Adani Group is seen on the wall of its realty office building on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave/File Photo 2/2 (Reuters) – GQG Partners has raised its stake in Gautam Adani’s conglomerate by about 10% and will take part in the group’s future fund raising, Bloomberg News reported on Tuesday. The value of GQG’s Adani holdings is close to $3.5 billion, the report said, citing an interview with Rajiv Jain, chief investment officer of the U.S. investment firm. “Within five years, we would like to be…