Author: FX

Joe Raedle/Getty Images News Trucker Yellow Corp. (NASDAQ:YELL) has sent out notices to customers and employees saying it has ceased all operations, and the Teamsters union said the company notified the union it intends to file for bankruptcy, The Wall Street Journal reported Sunday. A failure would imperil nearly 30K jobs, including ~22K Teamsters members, after hundreds of Yellow’s (YELL) non-union employees were laid off Friday as the company stopped taking in new shipments from customers. Customers say disruptions should be limited, according to the report, after many shifted their cargoes to rivals in recent weeks, hastening Yellow’s (YELL) demise.…

A couple of AUD-relevant data points:The headline to this post could well be a bit of a stretch, yes the manufacturing PMI improved a touch. But its still in contraction and the non-manufacturing PMI dropped on the month. The manufacturing PMI has been under 50 now for 4 straight months. Perhaps there will be a boost for China alter:This has been AUD supportive for the session so far. Source link

Share: EUR/USD defends Friday’s corrective bounce off three-week low with mild intraday gains. Weekend statements from ECB’s Lagarde, Fed’s Kashkari allow Euro to extend previous corrective bounce. Softer US inflation pressure, fears about September rate hike prod EUR/USD bears. Euro buyers need validation from preliminary readings of Eurozone inflation data for July, Q2 GDP and US employment numbers. EUR/USD picks up bids to consolidate the two-week losses amid Monday’s early Asian session, mildly positive near 1.1025 by the press time. In doing so, the Euro pair justifies the latest comments from European Central Bank (ECB) officials, as well…

Kobus Louw Stocks can finish higher from here, but trading will likely be volatile and investors can benefit from a risk-plus-defense approach, according to BMO Capital Markets. “Despite the S&P 500 (SP500) (NYSEARCA:SPY) (IVV) (VOO) sitting slightly above our base case year-end target of 4,550, we believe US stocks can finish the year at higher levels since many of our bull case (5,050) assumptions have become more credible lately,” strategist Brian Belski wrote in a note. “Nonetheless, a lot of uncertainty remains so we expect price choppiness to be a mainstay for the remainder of the year,” Belski said. “In…

© Reuters Galaxy Digital’s founder Mike Novogratz shared what an ideal investment portfolio would look like for a young and high-risk tolerance investor during an interview with Bloomberg Wealth, saying that he’d invest in the Chinese giant Alibaba (NYSE:), silver, gold, (BTC), and (ETH). “If they were young and had a high-risk tolerance, I’d be buying Alibaba stock. I’d be buying silver, gold, Bitcoin and Ethereum. That’d be my portfolio,” he said in allusion to someone investing $100,000. For those with lower risk tolerance, he recommended allocating only 30% of a portfolio in the example, with the remaining 70% in…

Recommended by Daniel Dubrovsky Get Your Free USD Forecast The US Dollar mostly outperformed its major counterparts this past week, especially against the Euro, Australian Dollar, and New Zealand Dollar. This is despite a Federal Reserve that raised rates and did little to bolster further tightening bets down the road, leaving a data-dependent path.The European Central Bank, which also tightened, left the door open to further tightening too. But, traders punished the Euro considering President Christine Lagarde was not necessarily committed in her language in terms of a September hike. Meanwhile, the Japanese Yen was left disappointed as the Bank…

UPCOMING EVENTS:Monday: China PMIs, EZ GDP, EZ CPI.Tuesday: RBA Policy Decision, EZ Unemployment Rate, US ISM Manufacturing PMI, US Job Openings.Wednesday: NZ Jobs Report, US ADP.Thursday: Swiss CPI, BoE Policy Decision, US Jobless Claims, US ISM Services PMI.Friday: US NFP, Canada Jobs Report.Monday: The Eurozone CPI Y/Y is expected to print at 5.3% vs. 5.5% prior, while the M/M reading is seen at 0.3% vs. 0.3% prior. The Core CPI Y/Y is expected at 5.4% vs. 5.5% prior, while there’s no expectation at the moment for the Core M/M figure, although the prior reading saw a 0.4% increase. It’s worth…

© Reuters. Pope Francis attends the mass for World day for Grandparents and the Elderly in St Peter’s Basilica, at the Vatican July 23, 2023. REUTERS/Guglielmo Mangiapane/File Photo By Alvise Armellini VATICAN CITY (Reuters) -Pope Francis on Sunday called on Russia to reverse its decision to abandon the Black Sea grain deal, under which it had allowed Ukraine to export grain from its seaports despite the ongoing war. “I appeal to my brothers, the authorities of the Russian Federation, so that the Black Sea initiative may be resumed and grain may be transported safely,” Francis said during his weekly Angelus…

Warning: WF is at high risk of cutting its dividend Source link

Commissioner Hester Pierce of the United States Securities and Exchange Commission (SEC) has raised concerns about the agency’s recent statement advising accounting firms against taking on non-audit work for crypto firms. In a July 28 tweet, Pierce challenged the recent statement by the SEC’s chief accountant Paul Munter, proposing that accounting firms adopt an all-or-nothing approach in their dealings with crypto firms. Pierce believes this might cause crypto firms to shy away from making good-faith efforts to be transparent. Continue Reading on Coin Telegraph Source link