Author: FX
MON: US Juneteenth Market HolidayTUE: PBoC LPR Announcement, RBA Minutes, NBH Announcement, German PPI (May), US Building Permits (May)WED: BoC Minutes, BCB Announcement, CNB Announcement, UK Inflation (May), New Zealand Trade Balance (May)THU: BoE Announcement, SNB Announcement, Norges Bank Announcement, CBRT Announcement, Banxico Announcement, Bank of Indonesia AnnouncementFRI: Japanese CPI (May), UK Retail Sales (May), EZ/UK/US Flash PMIs (Jun)NOTE: Previews are listed in day-orderPBoC LPR (Tue): The PBoC is likely to cut its Loan Prime Rates next week with the 1-Year LPR, which most loans are based on, currently at 3.65% and the 5-Year Loan Prime Rate, the reference rate…
asbe Last week’s declining financial stocks reflected an acquisition by a large stock exchange operator and softer outlooks at two large regional banks. Meanwhile, the climbers were led by a fintech that received some favorable attention from a sell-side analyst and included three Argentine banks. Overall, financial stocks ended the week in the green, but underperformed the broader market. The Financial Select Sector SPDR ETF (NYSEARCA:XLF) rose 1.2% during the week, lagging the 2.6% gain for the S&P 500. Nasdaq (NASDAQ:NDAQ) dropped the most of financial stocks with market cap over $2B during the week ended June 16, falling 11%…
© Reuters. FILE PHOTO: Pentagon Papers whistleblower Daniel Ellsberg participates in a news conference held by the whistleblower group ExposeFacts.org at the National Press Club in Washington April 27, 2015. REUTERS/Jonathan Ernst By Bill Trott WASHINGTON (Reuters) -Daniel Ellsberg, the U.S. military analyst whose change of heart on the Vietnam War led him to leak the classified “Pentagon Papers,” revealing U.S. government deception about the war and setting off a major freedom-of-the-press battle, died on Friday at the age of 92, his family said in a statement. Ellsberg, who had been diagnosed with inoperable pancreatic cancer in February, died at…
EUR/USD OUTLOOK:EUR/USD rallied to its best levels since May 11 after the Federal Reserve and ECB decision this past weekThe Fed held borrowing costs steady, but signaled a higher terminal rate. However, traders were skeptical of the U.S. central bank’s plans to resume hiking againThe ECB, meanwhile, raised rates and revised upwards its inflation forecasts, leading markets to price in additional tightening for the coming months Recommended by Diego Colman Get Your Free EUR Forecast Most Read: Japanese Yen Outlook – USD/JPY Extends Upside after Dovish BoJ DecisionEUR/USD took a nosedive in May, dropping below the 1.0700 handle towards the…
© Reuters. FILE PHOTO: A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Corrects headline to remove extraneous word) (Reuters) – Binance, Binance.US and the Securities and Exchange Commission (SEC) announced a deal to ensure that only Binance.US employees could access customer funds, CoinDesk said on Saturday. Source link
RelaxFoto.de/E+ via Getty Images Southern Co.’s (NYSE:SO) Georgia Power is delaying the commercial operation of the newly constructed Unit 3 reactor at its Vogtle nuclear power plant for at least another month, it said Friday in an 8-K filing. Southern (SO) said a degraded hydrogen seal in the main generator was found during the start-up and pre-operational testing of Plant Vogtle Unit 3, and it now estimates the in-service date for the reactor will occur in July, instead of June as had been expected. The utility said Unit 3, whose power-ascension testing is ~95% complete, operated as designed during the…
SlavkoSereda/iStock via Getty Images Crude oil exports out of Iran have surged to five-year highs despite U.S. sanctions, signaling something of a resurgence for the country on the world stage but also sapping confidence in an oil market already weakened by lackluster global economic growth and cheap Russian cargoes. Iranian crude shipments doubled since last fall to reach 1.6M bbl/day in May, analysts at Kpler reported Friday, the highest level since sanctions were re-imposed in 2018. Iran has said it has raised its total crude production to above 3M bbl/day, which would equal ~3% of global supply and the highest…
© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 3, 2023. REUTERS/Brendan McDermid By Noel Randewich and Sruthi Shankar (Reuters) – The ended lower on Friday, weighed down by Microsoft and other market heavyweights as comments from two Federal Reserve officials curtailed optimism that the central bank is nearing the end of its aggressive interest rate hikes. The Nasdaq also ended the week lower, although the index and the S&P 500 remained near 14-month highs after economic data this week pointed to cooling inflation, eclipsing concerns about further rate…
Share: USD/JPY surges to a YTD high of 141.91, though failure to surpass 142.00 could trigger a sell-off. The rising wedge pattern sparks uncertainty as USD/JPY nears key resistance. Japanese FX intervention may influence future USD/JPY direction. USD/JPY soared more than 1% on Friday due to safe-haven flows and a jump in US Treasury bond yields. On its way north, the USD/JPY reached a new year-to-date (YTD) high of 141.91 after bouncing off daily lows of 139.85. At the time of writing, the USD/JPY is exchanging hands at 141.85. USD/JPY Price Analysis: Technical outlook USD/JPY finished the week…
Share: NZD/USD traded neutral at the 0.6230 area on Friday but set a 1.70% weekly gain. Hawkish Fed speakers and upbeat UoM data gave the USD momentum. Rising US bond yields limited the Greenback’s traction. The NZD/USD traded stable at the 0.6210 – 0.6245 range at the end of the week, holding to a 170 pip weekly gain. In that sense, hawkish Federal Reserve (Fed) speakers lifted the US bond yields while upbeat consumer confidence data from the University of Michigan gave the Greenback an additional boost. On the NZD’s side, now relevant economic data was released, and…