Author: FX

Saudi Arabia announced on Thursday they’d be extending their output cut:ICYMI, Russian Deputy Prime Minister Alexander Novak jumped on the bandwagon:”Within the efforts to ensure the oil market remains balanced, Russia will continue to voluntarily reduce its oil supply in the month of September, now by 300,000 barrels per day, by cutting its exports by that quantity to global markets,” Russia had already committed to cutting its oil output by around 500,000 bpd from March until year-end.Oil price update: Source link

Share: EUR/USD falls to 1.0912 but rebounds before breaching 1.0900, trading at 1.0942 with a slight gain of 0.04% on Thursday. A potential doji formation shows market indecision; the pair might consolidate within the 1.0900/1.1000 range, with 100-day EMA at 1.0894 as a key support level. Resistance lies at 1.0971 (50-day EMA), with further upside targets at 1.1000, 1.1020 (29-day EMA), and 1.1100. Conversely, a breach below the 100-day EMA could lead to further losses toward 1.0833 and 1.0800. The EUR/USD fell to a one-month-low of 1.0912 but bounced before breaching below the 1.0900 figure and is gaining…

iShares Broad USD Investment Grade Corporate Bond ETF declares monthly distribution of $0.1690 Source link

National CineMedia (NCMI) Announces 1-for-10 Reverse Stock Split National CineMedia, Inc. (Nasdaq: NCMI) (“the Company”), the managing member and owner of National CineMedia, LLC (“NCM LLC”), the operator of the largest cinema advertising platform in the U.S., today announced it has effectuated a 1-for-10 Reverse Stock Split of its Common Stock. The Company’s Common Stock will automatically begin trading on a split-adjusted basis at the opening of the market on August 4, 2023, under the existing trading symbol “NCMI.” At the Special Meeting of Stockholders held on August 2, 2023, the Company’s stockholders approved a Reverse Stock Split at a…

EUR/USD & USD/JPY FORECAST:EUR/USD and USD/JPY will be very sensitive to the upcoming U.S. nonfarm payrolls reportMarket expectations suggest the U.S. economy created 200,000 jobs in JulyA strong headline print is likely to boost the U.S. dollar, weighing on the euro and the Japanese yen Recommended by Diego Colman Get Your Free USD Forecast Read More: US Jobs Report Preview: NFP Data to Shape Gold, US Dollar, and S&P 500’s OutlookThe U.S. Bureau of Labor Statistics will release its July nonfarm payrolls (NFP) report Friday morning. Based on Wall Street surveys, a notable 200,000 workers were hired last month at…

Factory orders rise 2.3% in JunePrior month 0.3%Factory orders 2.3% versus 2.2% expected. Best since June 2021Ex transportation 0.2% versus -0.4%Orders are up 6 of the last 7 monthsShipments of factory orders rose by 0.1%Unfilled orders of factory orders increase by 1.8%Inventories of factory orders was unchangedRevisions to durable goods – a component of factory orders showed:Durable goods orders 4.6% vs 4.7% preliminary. Best since mid-2020Durable goods Ex Defense 6.0% versus 6.2% preliminaryDurable goods ex Transport 0.5% versus 0.6% preliminaryNondefense capital goods orders ex air 0.1% versus 0.2% preliminary (proxy for capital investments by businesses)Shipments of manufactured durable goods increased…

Share: The BoE delivered a 25 bps hike as expected, which is a bit of a double-edged sword for GBP, economists at TD Securities report. Setting the groundwork for terminal The MPC hiked 25 bps. Language around the hike suggests the MPC is preparing to reach a terminal rate soon; we continue to expect 25 bps hikes in both September and November, but the probability of a November hike, while still our base case, is now lower. We’re of the view that higher rates might not provide the best support, given the trade-offs between growth, inflation, and domestic housing…

POUND STERLING TALKING POINTSBoE pushes rates to 5.25%.Incoming economic data will be more crucial than ever moving forward.GBP struggles to find a bid post-announcement. Recommended by Warren Venketas Get Your Free GBP Forecast GBP/USD FUNDAMENTAL BACKDROPThe Bank of England (BoE) decided to hike interest rates by 25bps (see economic calendar below) in line with consensus although probabilities for a 50bps increment gained traction prior to the announcement. Taking into account this mornings slump in services PMI’s as well as the recent drop in inflationary pressures, the British pound has been on the backfoot of recent. Coupled with the risk off…

Teleflex Non-GAAP EPS of $3.41 beats by $0.20, revenue of $743.3M beats by $13.41M Source link

© Reuters. FILE PHOTO: An aerial view of traffic on a street in the capital Niamey, Niger July 28, 2023. REUTERS/Souleymane Ag Anara NIAMEY/ABUJA (Reuters) – West African defence chiefs conclude a two-day meeting on Thursday that is discussing last week’s coup in Niger – talks they have promised will send a strong message about their intolerance for unconstitutional takeovers. The Economic Community of West African States (ECOWAS) has unleashed sanctions, threats of military intervention, and diplomatic overtures in its push to restore the presidency of President Mohamed Bazoum. It is not clear whether the defence chiefs’ meeting in the…