Author: FX
© Reuters. FILE PHOTO: A view of the city skyline in Shanghai, China February 24, 2022. Picture taken February 24, 2022. REUTERS/Aly Song BEIJING (Reuters) -China’s business confidence fell to its lowest since January 2013, a survey by World Economics showed on Monday, reflecting the impact of surging COVID-19 cases on economic activity with the abrupt lifting of many pandemic control measures. The index fell to 48.1 in December from 51.8 in November, showed the World Economics’ survey of sales managers at over 2,300 companies conducted Dec. 1-16. The index was the lowest since the survey began in 2013. The…
Scott Olson Updated to add Twitter’s decision to ban the promotion of rival social media sites. Billionaire Elon Musk started a poll on Twitter (TWTR) on Sunday, asking its users if he should step down as the social media giant’s chief executive. “Should I step down as the head of Twitter?” Musk asked hundreds of millions of Twitter users, noting, “I will abide by the results of this poll.” With 10 hours left for polls to close, more than 5.8M had responded, with 58% saying “Yes.” It is unclear whether Musk has succession planning in mind for Twitter if users…
China’s Central Economic Work Conference is an annual meeting. Chinese leaders gather to review and set economic policy for the coming year. More details of what was agreed to will emerge in March 2023.For now state media reports on general goals to: strengthen overall coordination of epidemic policiesensuring smooth “transition” during the current epidemic and social orderFor the economy – “We must insist on stability first next year while we strive for progress,” Back in November China announced:20 measures to optimise its COVID policya 16 point plan to support the property marketThe statement from State Media had nothing like this…
USD/CHF remains pressured near intraday low, prints the first daily loss in three. Multiple supports stand tall to challenge sellers even as looming bear cross on MACD signal further downside. 200-HMA, two-week-old descending trend line guard immediate upside. USD/CHF holds lower ground near the intraday bottom as bears struggle to retake control, after a two-day leave, during early Monday. That said, the Swiss Franc (CHF) pair prints mild losses near 0.9320 by the press time. The quote’s latest weakness could be linked to the U-turn from a fortnight-long descending resistance line, as well as the 200-HMA. Also keeping the USD/CHF…
© Reuters. FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020. REUTERS/Kim Kyung-Hoon/File Photo By Leika Kihara TOKYO (Reuters) – The Bank of Japan (BOJ) must make its monetary policy framework more flexible and stand ready to raise its long-term interest rate target next year if the economy can withstand overseas risks, former deputy governor Hirohide Yamaguchi told Reuters. Yamaguchi, who is considered a candidate to become next BOJ governor, said Japan is already seeing signs of “home-made” inflation, in which…
<p>more to come</p><p> Ex-BOJ Deputy Governor Yamaguchi:</p><ul><li>BOJ boj must stand ready to tweak YCC next year if Japan's economy can withstand overseas economic risks</li></ul><ul><li> If BOJ were to tweak YCC, one idea would be to raise 10-year JGB <a href="https://www.forexlive.com/terms/y/yield/" target="_blank" id="bc27d1fa-0b41-4192-ac3a-48794fd4ff1e_1" class="terms__main-term">yield</a> target from current 0%</li><li>BOJ must be mindful that once <a href="https://www.forexlive.com/terms/i/inflation/" target="_blank" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa_1" class="terms__secondary-term">inflation</a> expectations become entrenched, it is very hard to control them</li><li>BOJ must enhance flexibility of its monetary policy such as by removing commitment to keep increasing pace of money printing until inflation stably exceeds 2%</li><li>Don't see any merit to changing BOJ’s joint statement with…
#Nike, Daily NIKE, Daily Sportswear retailer #Nike is expected to report earnings on Tuesday, (20/12) after the market closes. The report is for the fiscal quarter ending November 2022. In its last report on September 29, the company reported EPS of $0.93, beating analyst consensus estimates of $0.91. NIKE has a net margin of 11.96% and a return on equity of 37.08%. The company had revenue of $12.70 billion for the quarter, compared with a consensus estimate of $12.28 billion. During the same quarter the previous year, the company earned $1.16 per share. The company’s revenue for the quarter was…
“The (UK) health secretary, Steve Barclay, is expected to contact health unions to urge fresh talks aimed at averting further strikes, amid new warnings that more action could put patients in danger,” reported The Guardian during the weekend. Key quotes It comes as No 10 rejected a proposal to give nurses a one-off lump-sum payment in an attempt to end the industrial action, one of the measures Barclay had suggested as a compromise in crunch Whitehall meetings last week. The Royal College of Nursing (RCN) hinted it would be open to discussing a lump-sum payment, though warned that there could be no “political…
Notable earnings after Monday's close Source link
© Reuters. FILE PHOTO: A man uses cash to pay for items while shopping in Milan, Italy, October 2, 2020. REUTERS/Flavio Lo Scalzo ROME (Reuters) – Italy will scrap part of its plans to facilitate cash payments for goods and services after criticism from European Union authorities, Economy Minister Giancarlo Giorgetti said on Sunday. In its draft 2023 budget the government had proposed changing the current system in which sellers risk fines if they refuse to accept card payments, by saying no penalties would be imposed for transactions below 60 euros ($63.49). The move drew criticism from the European Commission,…