Author: FX

POUND STERLING ANALYSIS & TALKING POINTSUK employment change and unemployment smash estimates.US CPI in focus.0.5% hike gains traction for BoE.Initial reaction = GBP/USD 0.35% higher. Recommended by Warren Venketas Get Your Free GBP Forecast NO LET UP FOR UK LABOR MARKET, POUND BID!The British pound rallied on stellar jobs data (see economic calendar below. All metrics showed improvement which is not a good sign for Bank of England (BoE) doves. Concerns around sticky core inflation from the BoE’s Mann and aggressive monetary policy comments from Haskel yesterday will surely be heightened with today’s data and the fact that several other…

Japan +1.80%. Japan Quarterly Business Sentiment Index survey, Q2 2023. Large manufacturing index -0.4%. China +0.05%. Hong Kong +0.49%. Australia +0.18%. National Australia Bank raise their RBA terminal rate forecast to 4.6% (from 4.35%). Australia Business confidence (May) -4 (prior 0) and Conditions +8 (prior +14). Australian data – Westpac Consumer Confidence Index (June) +0.2% m/m (prior -7.9%). India +0.63%. India ’s consumer price index has recorded a 4.25% gain year on year in May, marking its slowest rate of inflation since January 2021. In the U.S., all three major indexes closed higher on Monday as investors added to optimism…

Is the euro ready for an uptrend against the Swiss franc? We’re taking a look at EUR/CHF’s 4-hour chart today to see if the pair has broken key resistance levels. Check it out! EUR/CHF 4-hour Forex Chart by TV EUR/CHF has had a good couple of days, rising from the .9690 levels late last week to trade closer to the .9780 area after breaking a range consolidation. What got my attention was that the last 4-hour candlesticks broke above a trend line resistance that had been keeping EUR buyers at bay since March this year. Not only that, but EUR/CHF…

By Phil Stewart WASHINGTON (Reuters) -Twenty-two U.S. service members were injured in a helicopter “mishap” in northeast Syria on Sunday, the U.S. military said late on Monday, without disclosing the cause of the incident or detailing the severity of the injuries. The U.S. military’s Central Command said 10 service members were evacuated to higher-level care facilities outside the region. Central Command, which oversees U.S. troops in the Middle East, said no enemy fire was reported but added that the cause of the incident was under investigation. Officials at U.S. Central Command did not immediately respond to requests for further information.…

3 reasons the Bank of Japan is expected to keep policy unchanged at this week’s meetingCiti says markets mispricing downside risks for inflation heading into the May inflationFormer Dallas Fed Pres Kaplan says FOMC ‘hawkish pause’ in June, July hike is openNational Australia Bank raise their RBA terminal rate forecast to 4.6% (from 4.35%)Australia Business confidence (May) -4 (prior 0) and Conditions +8 (prior +14)People’s Bank of China cuts 7 day Reverse repo rate to 1.90%, from 2%PBOC sets USD/ CNY central rate at 7.1498 (vs. estimate at 7.1490)Bank of England Governor Bailey speaking Tuesday, as is MPC member DhingraAustralian…

Share: USD/CNH takes the bids to prod the highest levels since late November 2022, up for the third consecutive day. PBOC cuts 7-day Repo Rate to 1.9%, fears of slower growth in China intensifies. Mixed mood, pre-data consolidation challenge US Dollar traders as US CPI, Fed loom. USD/CNH renews a multi-day high as China’s central bank surprises market with a rate cut during early Tuesday. That said, the People’s Bank of China (PBoC) cuts the Repo Rate to 1.9% from 2.0% and propel the offshore Chinese Yuan (CNH) price towards 7.1750, the highest level since late November 2022,…

sasacvetkovic33/E+ via Getty Images NexTier Oilfield Solutions (NYSE:NEX) +9.5% post-market and Patterson-UTI Energy (NASDAQ:PTEN) +15.9% after The Wall Street Journal reported late Monday that the two oilfield services companies are holding talks over a possible merger. NexTier (NEX), which was created out of a 2019 merger between C&J Energy Services and Keane Group, provides well-completion and production services; its revenues more than doubled in 2022 to $3.24B, due in part to an increase in fracking activity and higher prices. Patterson-UTI (PTEN) is the second largest rig provider in contract drilling after Helmerich & Payne, providing mostly super-spec rigs, the most…

By Brad Brooks (Reuters) – The mother of a 6-year-old Virginia boy who shot and wounded his elementary school teacher pleaded guilty on Monday to federal gun charges in a deal with prosecutors, according to court documents and her lawyer. Deja Taylor, whose son shot teacher Abby Zwerner at Richneck Elementary School in Newport News in January, pleaded guilty in federal court to being a user of marijuana while in possession of a firearm. While many states have legalized marijuana, it remains illegal under federal law. Taylor also pleaded guilty to lying about her marijuana use during the background check…

Andrew Balls, chief investment officer for fixed income at PIMCO comments Monday on the US dollar:”There’s no guarantee that we’re going to be short the dollar all the time, but today, (in) positioning we have dollar underweights versus G10 and EM”My guess is on average, we’re going to have that over the next couple of years.”dollar will keep its reserve currency statusAdded that some funds are overweight UK government bonds”We tend to be neutral and in some of our portfolios are a little bit overweight in the UK. It looks like there is value when we compare the UK with…

Share: WTI nosedives to $66.80, influenced by global economic deceleration and reduced oil price forecasts. Goldman Sachs revises WTI year-end forecast to $81 per barrel amid potential increased supplies. Upcoming US CPI data and Fed’s decisions are closely watched; the Saudi production cut provides a slight cushion. Western Texas Intermediate (WTI), the US crude oil benchmark, plunges sharply due to see an ongoing global economic deceleration, as well as analysts slashing oil price forecasts ahead of the release of inflation in the United States (US), and the Federal Reserve (Fed) meeting on Wednesday. WTI is trading at $66.80,…