Author: FX
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, S&P 500 Analysis and ChartsFTSE 100 approaches key resistanceThe FTSE 100’s rally, triggered by weaker-than-expected UK inflation, is being boosted by June retail sales which came in at 0.7% versus an expected 0.2% and a downwardly revised 0.1% in May. The UK blue-chip index, which has so far risen by over 5% from its July low, is fast approaching its 7,679 to 7,688 resistance zone. It consists of the mid-May low and the mid-June high and as such may short-term cap. If not, the way would be open for…
EVERTEC (NYSE:EVTC) climbs 1.3% on prelim Q2 numbers and FY outlook, will acquire Sinqia for consideration with a value of R$27.19 per share, increased by a customary daily “ticking fee” of up to R$1.00 per share depending on the timing of the closing. Sinqia is a player in the market for software for financial services in Brazil. Based on the closing price of Sinqia shares on July 19, 2023, Sinqia has an equity valuation of R$2,326M ($485M) and an enterprise value of R$2,835M ($591M). The transaction represents a ~24.0% premium to the unaffected share price at July 19, 2023, and…
© Reuters. FILE PHOTO: A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration STOCKHOLM (Reuters) – OpenAI’s head of trust and safety Dave Willner is leaving the company, he said in a LinkedIn post on Friday, citing the pressures of the job on his family life and saying he would be available for advisory work. OpenAI did not immediately respond to questions about Willner’s exit. Trust and safety departments have taken on a high-profile role in technology companies such as OpenAI, Twitter, Alphabet (NASDAQ:) and Meta as they seek…
GBP/USD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Download Your Free GBP Q3 Forecast Now Read More: Dollar Index (DXY) Eyes Deeper Recovery with USD/CHF at 12-Year LowsCable saw Wednesdays drop extend into Thursday on the back of a stronger dollar as market participants position ahead of next weeks FOMC meeting. The US Dollar is facing some stern resistance while positive UK retail sales data this morning could keep cable moving higher in the short term.UK RETAIL SALES DATA AND US LABOR MARKETSUK retail sales surprised to the upside this morning in what will likely serve as a positive…
The miss in the US CPI report last week has led to a broad US Dollar weakness as the market anticipated one last hike at the July FOMC meeting. The falling inflation with a resilient labour market have also strengthened the soft-landing narrative and caused a positive risk sentiment in the markets. This week though, the higher than expected Retail Sales (Control Group) and the much better than expected US Initial Claims gave the USD some support and the weakness after the miss in the CPI was almost completely erased. On the other hand, the BoC hiked rates by 25…
Share: AUD/USD reverses modest intraday losses and draws support from subdued USD price action. Hopes for more Chinese stimulus and bets for additional RBA rate hikes also lend some support. Traders might refrain from placing directional bets ahead of the FOMC decision next Wednesday. The AUD/USD pair extends the previous day’s sharp retracement slide from the vicinity of the 0.6850 area and continues losing ground through the Asian session on Friday. Spot prices, however, manage to recover a few pips from the daily low and currently trade with a slight negative bias, around the 0.6770-0.6775 region, down less…
Is that a head and shoulders formation I’m seeing on the 4-hour chart of Guppy? It looks like the pair is gearing up to break below its neckline support pretty soon! Here are the levels you should keep tabs on. GBP/JPY 4-hour Forex Chart by TV Price is already testing the support around the 180.00-180.50 zone, and a break below this could set off a drop that’s the same height as the chart pattern. That’d be roughly 400 pips yo! Technical indicators aren’t looking so convinced yet, though. Stochastic appears to be pulling higher without even reaching the oversold region,…
2/2 © Reuters. FILE PHOTO: U.S. and North Korean national flags are seen at the Capella Hotel on Sentosa island in Singapore June 12, 2018. REUTERS/Jonathan Ernst/File Photo 2/2 By Hyunsu Yim SEOUL (Reuters) -North Korea said on Thursday deployment of U.S. aircraft carriers, bombers or missile submarines in South Korea could meet criteria for its use of nuclear weapons, state media KCNA reported, citing the country’s defence minister, Kang Sun Nam. The comments raise the stakes as each side steps up displays of military force in a standoff over the isolated country’s nuclear weapons and ballistic missile programmes. The…
zhaojiankang/iStock via Getty Images Steel Dynamics (NASDAQ:STLD) should restart its Sinton steel mill in Texas in the next few days following an unplanned outage, CEO Mark Millett said Thursday during the company’s earnings conference call. The outage will cost the company 50K-70K short tons in shipments, CFO Theresa Wagler said, as reported by Argus. The 3M st/year flat rolled steel mill’s hot mill shut down July 1 when problems with its caster shear equipment caused the company to idle its electric arc furnace. Millett said on the call that Sinton should ramp up to run at 80% capacity by the…
UBS targets for the S&P 500 are:4100 for December 2023then to 4400 for June of 2024UBS is looking for the numbers citing the economy being more resilient than anticipated. Say that Q2 should be the quarter when earnings growth bottoms. Profits for the S&P 500 could exceed estimates but still fall 3 to 5% from the previous year.profits could increas marginally if the energy sector were excludedQ3 guidance should also be favourablefull-year 2023 & 2024 S&P 500 EPS estimates of $215 (-2% y/y) and $235 (+9% y/y) remain unchanged but UBS says there is more upside versus downside risks to…