Author: FX
GBP/USD Prices, Charts, and AnalysisGilt yields push sharply higher on renewed UK rate hike expectations.IMF does a 180 on UK growth prospects.Little in the way of UK data next week. Recommended by Nick Cawley How to Trade GBP/USD UK headline inflation fell back into single digits, figures showed this week but failed to meet analyst expectations, while the core reading rose to levels last seen over three decades ago. While elevated energy prices started to fall out of the reading, food prices, in particular, continued to rise, putting the squeeze on consumers. The financial markets are forecasting that the Bank…
Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite. US Dollar corrects after strong rally, giving Oil a backdraught. Oil price steadies on Friday after the previous day’s tumble, as traders weigh conflicting messages from two of the largest members of OPEC+ and the US Dollar weakens. Russia’s Deputy Prime Minister Alexander Novak said that he did not think further cuts would be announced, when only a few days earlier, the Saudi Oil…
Sundry Photography/iStock Editorial via Getty Images 8×8 Inc. (NASDAQ:EGHT) soared 14% as an investor said it planned to talk to management about certain topics, including potential strategic transactions such as business combinations. Sylebra Capital reported owning a 12.4% holding in 8×8 (EGHT), according to a 13D filing on Friday. Separately, Sylebra Capital also reported in a different 13D filing an 8.7% stake in RingCentral (NYSE:RNG) and also said it planned to have discussions with its management about potential strategic transactions, including business combinations. Earlier Friday, RingCentral (RNG) was upgraded to buy at Needham, citing stabilizing growth and improved free cash…
Share: US economic strength shown by the latest round of data raises prospects of a June Fed rate hike, boosting the US Dollar. Wall Street climbs despite a rise in Fed’s gauge for inflation, with Core PCE hitting 4.7% YoY. Rising US Treasury bond yields and Fed hawkish commentary could hurt Gold’s recovery. Gold price recovers some ground but remains shy of reclaiming the $1950 figure after solid economic data in the United States (US) suggests the Federal Reserve (Fed) could opt to hike again in June. Consequently, US Treasury bond yields are rising, while the US Dollar…
Share: In an interview with CNBC on Friday, Federal Reserve Bank of Cleveland President Loretta Mester said that the Personal Consumption Expenditures (PCE) Price Index released on Friday underscored the slow progress on inflation. Breaking: US Core PCE inflation increases to 4.7% vs. 4.6% anticipated. “It’s probably not wise to sort of pre-guess what the meeting outcome will be,” Mester said when asked whether another rate increase is warranted at the upcoming FOMC meeting. Key takeaways “Tighter monetary policy is still feeding into the economy.” “I may have to revise up my inflation forecast.” “Everything is on the table…
Share: Gold price is under pressure amid dwindling rate cut expectations. Nonetheless, economists at Commerzbank see only limited further downside potential. Development of physical demand in Asia is hardly likely to influence prices “Hopes of any rate cuts in the US in the near future have been dampened this week, thereby weighing on the Gold price. A new US labour market report will be published at the end of next week. If it shows a further cooling, as many observers anticipate, this would likely reduce rate expectations, especially if a compromise were to be reached in the US…
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Enrich the conversation, don’t trash it. Stay focused and on track. Only post material that’s relevant to the topic being discussed. Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user.…
EUR/USD Prices, Charts, and AnalysisEUR/USD returned some of the week’s losses on FridayThe move was modest though and the bears remain in chargeThis week’s news of German recession makes the ECB’s balancing act harder Recommended by David Cottle How to Trade EUR/USD The week’s big news was that Germany slipped into recession in 2023’s first quarter. It’s by far the Eurozone’s largest national economy, and usually among its most successful, so naturally this news has weighed on sentiment toward the single currency. Germany has had to deal with rising inflation and a reduction in its massive use of Russian energy,…
PCE REPORT KEY POINTS:April U.S. consumer spending surges 0.8%, well above expectations calling for a 0.4% increaseCore PCE clocks rises 0.4% on a monthly basis, up 4.7% in the last 12 months, one-tenth of a percent above forecasts in both casesGold prices turn lower as sticky inflation reinforces arguments for additional Fed hikes Recommended by Diego Colman Get Your Free USD Forecast Most Read: Nasdaq 100 Outlook – Bulls Dominate but Pullback Looms, Bearish Signals to WatchThe U.S. Bureau of Economic Analysis this morning released data on income and outlays for April. According to the government agency, personal consumption expenditures,…
> US April durable goods orders 1.1% versus -1.0% expected US April 2023 durable goods orders data Prior 2.8% (revised to 3.3%)durable goods orders 1.1% versus -1.0% expectednondefense capital goods orders ex air 1.4% Versus -0.2% expected. Last month -0.6%Ex transportation -0.2% versus 0.3% expectedEx Defense -0.6% vs 3.2% last month ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE READING BELOW Source link