Author: FX

© Reuters. FILE PHOTO: Signage is seen at Samsung 837 in Manhattan, New York City, U.S., November 23, 2021. REUTERS/Andrew Kelly/File Photo SEOUL (Reuters) – Samsung Electronics (OTC:) reported on Thursday a 95% plunge in quarterly profit, as the chip industry’s downturn persisted despite output cuts due to weaker demand for products reliant on semiconductors from consumer gadgets to servers. The world’s top maker of memory chips and smartphones said operating profit fell to 669 billion won ($527 million) for the April-June quarter, from 14.1 trillion won a year earlier. That was broadly in line with the company’s estimate of…

claffra/iStock Editorial via Getty Images Oilfield services company SLB (NYSE:SLB) was found not liable by a jury for sexual harassment that a former female employee said she endured on drilling rigs, Bloomberg reported late Wednesday. The civil suit in federal court in Houston sought more than $1M in damages from the company formerly called Schlumberger (SLB). The plaintiff worked at SLB (SLB) for more than two years and sued the company in 2020, alleging she was regularly subjected to sexually explicit comments and that the human resources department conspired with her harassers to end her career. SLB (SLB) denied it…

Nomura is anticipating the rate hike from the European Central Bank today to be the final move higher for this cycle, a hike of 25bp for policy rates. The depo rate at 3.75% after this, says Nomura, is to be the terminal rate.Also expect a strong likelihood that the ECB will alter its guidance to maintain the flexibility of further hikes, if necessary. Despite this, analysts at the bank don’t foresee the ECB promising any additional hikes in advance, and Lagarde will probably emphasize the reliance on data.Looking further out, no hike in September. Nomura says the data by then…

Share: The Fed hiked rates by 25 bps as expected to 5.25-5.50%, its highest in 22 years. All eyes are now on ECB’s decision on Thursday, expected to deliver a 25 bps hike. The EUR/USD is trading positive after 6 consecutive days of losses, precisely at 1.1090 and 0.37% gains during the session. As expected, the Federal Reserve (Fed) hiked rates by 25 basis points and is positioned in the 5.25%-5.50% target. However, during the press conference, Chair Powell did not commit to a hike in September as ongoing decisions will depend on incoming data.Regarding the economic assessment,…

Rounding up our central bank events this week is the Bank of Japan’s (BOJ) July monetary policy updates. What are traders expecting and how can the event affect JPY’s intraweek trends? Here are the important points you need to know if you’re planning on trading the news: Event in Focus: Bank of Japan (BOJ) Monetary Policy Statement When Will it Be Released: July 28, Friday: tentatively 3:00 am GMT BOJ Governor Kazuo Ueda will hold a press conference after the announcement. Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: BOJ to keep policy…

FOMC DECISION KEY POINTSThe Federal Reverse voted to raise interest rates by 25 basis points to 5.25%-5.50%, the highest level in 22 yearsThe decision to resume the tightening campaign was widely expected by market participantsGold and the U.S. dollar go separate ways following the central bank’s decision ahead of Powell’s press conference Recommended by Diego Colman Get Your Free USD Forecast Most Read: Could the Fed Trigger a Deeper Retreat in Bitcoin & Ethereum? BTC/USD & ETH/USD Price ActionThe Federal Reserve today concluded its July monetary policy conclave and voted unanimously to increase its benchmark interest rate by a quarter…

franckreporter/iStock via Getty Images U.S. stocks on Wednesday were little changed, after the Federal Reserve hiked interest rates by 25 basis points as widely expected. Investors are now awaiting chief Jerome Powell’s upcoming press conference. Market participants digested plenty of quarterly reports ahead of the rate decision, with a host of Dow 30 components and tech titans Microsoft (MSFT) and Alphabet (GOOG) (GOOGL) announcing their numbers. Minutes after the Fed’s meeting outcome, the Nasdaq Composite (COMP.IND) was down 0.41% to 14,087.16 points, while the benchmark S&P 500 (SP500) was lower by 0.23% to 4,557.13 points. The Dow (DJI) was up…

© Reuters. Canada’s Prime Minister Justin Trudeau arrives ahead of a cabinet shuffle at Rideau Hall, in Ottawa, Ontario, Canada, July 26, 2023. REUTERS/Blair Gable OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau shuffled his cabinet on Wednesday, appointing new heads at 30 of the 38 ministries, adding seven new faces. Here are details of the main announcements: WHO HAS A BIG NEW JOB? The most unexpected move saw Anita Anand switch from defense to the more low-profile job of heading the Treasury Board, which has overall control of government spending. This is at best a lateral move for Anand,…

The GBPUSD is trading just above the 1.2900 level at 1.2907. That puts the price between the 100-hour moving average below at 1.28604, and the 200-hour moving average above at 1.29487. Those moving averages will be either more bullish or more bearish barometers for the GBPUSD pair. The Fed decision at 2 PM ET will help to dictate the next bias shiftIf the price moves above its 200-hour moving average at 1.29487 (green line in the chart below), the bias tilts more in favor of the buyersIf the price moves below its 100-hour moving average at 1.28604 (blue line in…

Share: Euro exceeds the 1.1080 level against the US Dollar on Fed day. Stocks in Europe en route to another negative close on Wednesday. EUR/USD targets the 1.1100 barrier in the very near term. Consumer Confidence in France held steady at 85 in July. The FOMC event, Powell presser will take centre stage later in the session. The Euro (EUR) manages to recover some ground against the US Dollar (USD) and prompts EUR/USD to regain the 1.1080 region after bottoming out at Tuesday’s two-week lows around 1.1020. The pair gains momentum and leaves behind the recent bearish trend over several sessions, targeting the key 1.1100 barrier…