Author: FX

2/2 © Reuters. FILE PHOTO: Delta Air Lines pilots, represented by the Air Line Pilots Association, protest outside Terminal 4 at JFK International airport in New York City, U.S., June 30, 2022. REUTERS/Shannon Stapleton 2/2 By Rajesh Kumar Singh and David Shepardson CHICAGO (Reuters) – Delta Air Lines (NYSE:) has offered a 34% pay increase to its pilots over three years in a new contract, according to a draft agreement seen by Reuters. The pilots will get a raise of at least 18% raise on the date the contract is signed, another 5% after one year, 4% after two years…

© Reuters. FILE PHOTO: A general view of the Indiana Statehouse shortly before the vote to accept Senate Bill 1, which was passed by the House earlier in the day, making the Indiana legislature the first in the nation to restrict abortions, in Indianapolis, Indiana, (Reuters) – A second Indiana judge on Friday blocked the state from enforcing its law banning most abortions after Jewish, Muslim and other non-Christian women challenged it in a lawsuit. Marion County Superior Court Judge Heather Welch issued a preliminary injunction against the Republican-backed law, which prohibits abortions with limited exceptions for rape, incest, lethal…

GBP/USD – Prices, Charts, and AnalysisAttention is already turning to the mid-December central bank bonanza.Sterling needs to do some work of its own.November NFPs take the edge of GBP/USD. Recommended by Nick Cawley Get Your Free GBP Forecast Most Read: British Pound Latest – GBP/USD Prints a Fresh Multi-Month HighThe financial markets have given UK PM Rishi Sunak a fairly easy start to his time at No.10 so far but with the ghosts of Liz Truss and Kwasi Kwarteng now fully in the past, Sterling is going to need some positive news if it is to continue its recent rally.…

straga/iStock via Getty Images U.S. natural gas futures fell to a two-week low Friday on forecasts for milder weather than previously expected and a delayed restart to the end of the year for the Freeport liquefied natural gas export plant in Texas. Milder weather should allow utilities to leave more gas in storage, with stockpiles currently ~2.5% below the five-year average for this time of year. Front-month Nymex natural gas (NG1:COM) for January delivery settled -6.8% Friday and -14.3% for the week to $6.281/MMBtu. ETFs: (NYSEARCA:UNG), (UGAZF), (BOIL), (KOLD), (UNL), (FCG) Freeport LNG said Friday it expects to restart the…

J2R/iStock Editorial via Getty Images ABB (NYSE:ABB) agreed to pay more than $315M to resolve a multinational investigation into bribery of a high-ranking official at South African state-owned power utility Eskom, the U.S. Department of Justice said Friday. ABB (ABB) bribed the Eskom official during 2014-17 “in order to corruptly obtain confidential information and win lucrative contracts,” the DoJ said. Company subsidiaries also pleaded guilty to one count of conspiracy to violate the anti-bribery provisions of the U.S. Foreign Corrupt Practices Act. The DoJ said its resolution was coordinated with prosecutorial authorities in South Africa and Switzerland, as well as…

The S&P 500 (SP500) on Friday added 1.13% for the week to end at 4,071.70 points, with the benchmark index posting losses in four out of five sessions. The gains for the week were largely thanks to a massive rally on Wednesday which was spurred by Federal Reserve chair Jerome Powell’s comments on slowing rate hikes. The week got off to a negative start over concerns on China’s zero-COVID-19 policies and protests against them. By mid-week, the focus had turned to Powell, who in a speech all but confirmed that rate hikes would slow down starting from the central bank’s…

TolikoffPhotography Malaysian wellness company Agape ATP (OTCPK:AATP) (ATPC), which is seeking to uplist to Nasdaq, has cut its proposed public offering by nearly 80% to $10M. In its latest filing, Agape said that it is now seeking to offer 1.6M shares priced between $5.50 and $6.50, which would raise around $10M if priced at the midpoint. Underwriters would be granted a 45-day option to buy up to 240K additional shares to cover any over-allotments. In a prior filing, Agape said that it was looking to offer 7.7M shares priced in the same range, which would have raised about $46M if…

NZD/USD is set to finish the week with gains of 2.56%. The November US Nonfarm Payrolls suggested a tight labor market, so the Federal Reserve needs to keep hiking rates. NZD/USD Price Analysis: Daily close above 0.6400 exacerbates a rally towards 0.6570s. The New Zealand Dollar (NZD) climbed against the US Dollar (USD) for the fourth consecutive day, spurred by a weaker USD. An upbeat employment report on the United States (US) suggested the Federal Reserve (Fed) might need to keep hiking rates to ease a contracted labor market, though it failed to underpin the US Dollar. Therefore, the NZD/USD…

Mixed price action this week as traders balanced between catalysts from China, a slew of disappointing economic updates, and lots of central bank commentary. The Japanese yen seemed to be the biggest beneficiary, while the Loonie saw red despite a bounce in oil prices. Notable News & Economic Updates: Protesters flooded the streets in China, showing anger at zer0-COVID policies; Chinese authorities announced a stepped up focus on vaccinating older people J.P.Morgan Global Manufacturing PMI for November: 48.8 vs. 49.4 in October Chinese official manufacturing PMI down from 49.2 to 48.0 in Nov; non-manufacturing PMI fell from 48.7 to 46.7…

Markets:Gold down $5 to $1797WTI crude oil down 99-cents to $80.22US 10-year yields down 2.4 bps to 3.50%S&P 500 down 10 points to 4072JPY leads, CAD lagsThe US dollar was soft all week in the lead-up to non-farm payrolls and that was particularly true of USD/JPY in the hours before the release as the pair touched 133.64 early in Europe. With a strong bid in bonds, the market is seeing a Fed peak or creeping economic weakness.So naturally non-farm payrolls were strong and the latest batch of dollar bears was stung by a quick roughly 150 pips US dollar rally…