Author: FX

Share: USD/JPY is in the red for the first time this week, back below the 133.00 level. US Dollar benefits from risk aversion but US Treasury yields remain a drag.   Bearish 50DMA support is in sight amid the pullback from multi-week highs. USD/JPY is on a corrective downside journey so far this Wednesday, witnessing losses for the first time this week. The pair is retreating from fresh six-week highs of 133.31 reached a day before, trading under 133.00 amid broad risk aversion. Hotter-than-expected US Consumer Price Index (CPI) data combined with hawkish commentary from US Federal Reserve (Fed)…

dan_prat/iStock Unreleased via Getty Images Suncor Energy (NYSE:SU) reported a better than expected Q4 profit on Tuesday, with adjusted operating earnings of C$2.43B (US$1.82B), or C$1.81/share, compared with the C$1.76 analyst consensus estimate and nearly double the C$1.29B, or C$0.89/share, in the year-ago quarter. Q4 net earnings rose to C$2.74B, or C$2.03/share from C$1.55B, or C$1.07/share, in the prior-year period. Suncor (SU) said the improved results were due to higher crude oil prices and refined product realizations as well as more upstream production, partially offset by higher operating expenses. Q4 total upstream production increased 2.6% Y/Y to 763.1K boe/day from…

Meanwhile, Ford is planning layoffs over the next three years targeting 2,300 employees from the administrative division in Germany, 1,300 from the UK and another 200 positions from Ford’s European branches. Although the move adds to Ford’s long list of layoffs after cutting thousands of workers over the past year, the company stated that this decision was forced to be taken so that Ford could boost revenue from the production of electric vehicles. Technical Review Palladium printed a new low of 1464.30 in Tuesday’s trading (14/02). The downside bias has been dominant, ever since the 1768.35 June 2022 rebound failed…

© Reuters. FILE PHOTO: Onions are displayed at a stall at a public market in Manila, Philippines, January 28, 2023. REUTERS/Lisa Marie David By Enrico Dela Cruz and Adrian Portugal MANILA (Reuters) – Putting quality over profit during inflationary times, Manila restaurant manager Ely Cundangan has refused to mess with her signature beef marrow stew – the same amount of onions must go in the pot no matter what. “Our ingredients have become so expensive that we are almost earning nothing. But we can’t change the recipe,” said the 76-year old Cundangan, taking a break from cooking to man the…

Point72 Asset Management adds Salesforce, Netflix, exits Palo Alto Networks Source link

Japanese Yen, USD/JPY, US Dollar, BoJ, Ueda, Sakkibara, Nikkei 225 – Talking PointsThe Japanese Yen has steadied today after falling to start the weekA new BoJ Governor might see a change of tack for monetary policyThe appointment has the approval of a Yen stalwart that sees tightening ahead Recommended by Daniel McCarthy How to Trade USD/JPY The Japanese Yen dipped on Monday and Tuesday with USD/JPY trading at its highest level since early January at 133.32.The appointment of Kazuo Ueda to be the new Governor of the Bank of Japan (BoJ) on Tuesday was somewhat of a surprise.His tenure will…

<p>People's Bank of China inject 499 bn yuan </p><ul><li>vs. 300 bn yuan maturing</li><li>for 1 year</li><li>rate unchanged at 2.75%</li></ul><p>–</p><p>The MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the central bank for a period of 6 months to 1 year. The rate is typically announced on the 15th of each month.</p><p>The MLF rate sets the scene for the monthly Loan Prime Rate (LPR) setting on the 20th.The MLF rate was unchanged in January, as were the LPRs:3.65% for the one year4.30% for the five year</p> This article was written by Eamonn Sheridan at…

Share: USD/JPY takes offers to refresh intraday low, prints the first daily loss in three. US Treasury bond yields grind near monthly high after Fed policymakers defend rate hikes. BoJ governing board nominations appear hawkish enough to favor JPY bulls. Unimpressive US inflation highlights Retail Sales, NY Empire State Manufacturing for clear directions. USD/JPY returns to the bear’s radar on early Wednesday, following a two-day winning streak, as market players reassess the hawkish Fed verdict vis-à-vis expectations of the Bank of Japan’s (BoJ) next move. That said, the Yen pair renews its intraday low near 132.70 while printing…

Soroban Capital boost stake in Nutrien, exits Mastercard, Wabco, Yum Source link

© Reuters. FILE PHOTO: Berkshire Hathaway CEO Warren Buffett, arrives to attend the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 5, 2022. REUTERS/Brendan McDermid By Carolina Mandl and Sittrarasu S NEW YORK/BANGALORE (Reuters) -Warren Buffett’s Berkshire Hathaway (NYSE:) Inc slashed its stake in Taiwanese contract chip-maker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc. Berkshire cut its position in Taiwan Semiconductor Manufacturing Co Ltd (TSMC) by 86.2% to 8.29 million sponsored American depositary shares, according to a regulatory filing. The announcement comes roughly…