Author: FX
Share: June month employment statistics from the Australian Bureau of Statistics, up for publishing at 01:30 GMT on Thursday, will be the immediate catalyst for the AUD/USD pair traders. Market consensus suggests that the headline Unemployment Rate may remain unchanged at 3.6% on a seasonally adjusted basis whereas the Employment Change could rise by 15.0K versus the previous contraction of 75.9K. Further, the Participation Rate is expected to remain unchanged at 66.9% during the stated month. Considering the Reserve Bank of Australia’s (RBA) latest pause in the rate hike trajectory, as well as the mixed inflation clues from…
FreezeFrames/iStock via Getty Images ProPetro (NYSE:PUMP) and Helmerich & Payne (NYSE:HP) led North American land drillers and frackers higher, +6.1% and +3.4% respectively in Wednesday’s trading, as Benchmark upgraded the stocks to Buy from Hold with respective $16 and $50 price targets, seeing a “tactical trading opportunity” in the group. Pure-play Permian Basin fracking play ProPetro (PUMP) trades 43% below its average multiple, and no. 1 U.S. land driller Helmerich & Payne (HP) trades 34% below average multiple, Benchmark analyst Kurt Hallead said. “Everything in this space is primed to work as new long only money looks for a home…
© Reuters. FILE PHOTO: Spanish army servicemen prepare NASAMS medium range ground-based air defence rocket launcher, in Lielvarde air base, Latvia March 29, 2023. REUTERS/Ints Kalnins/File Photo By Kanishka Singh WASHINGTON (Reuters) – The United States on Wednesday announced additional security assistance of about $1.3 billion for Ukraine in its war with Russia, the package including air defense capabilities, drones and munitions. “This announcement represents the beginning of a contracting process to provide additional priority capabilities to Ukraine,” the Pentagon said in a statement. The United States is using funds in its Ukraine Security Assistance Initiative (USAI) program, which allow…
TESLA AND NETFLIX RESULTS:Tesla’s second-quarter results beat top and bottom-line estimates, but profitability worsensNetflix’s results were mixed, with revenue slightly below expectations but EPS above market forecastsShares of both companies traded lower after hours, weighing on Nasdaq 100 futures Recommended by Diego Colman Get Your Free Equities Forecast Most Read: US Dollar Dancing on Horizontal Support ahead of Fed Decision Next WeekShares of Tesla (TSLA) and Netflix (NFLX) headed lower in extended trading after both companies reported somewhat mixed earnings for the April-June period, with the former sliding roughly 1% and the latter down about 5% at the time of…
Tesla earnings will be reported after the close. The expecations (and prior period numbers for comparison) shows:Q2 Revenues $24.5 billion estimate, which would be a slight increase from Q1 and a substantial 45% increase year over year.Tesla’s adjusted EPS are estimated to be $0.82 for the second quarter.Tesla’s adjusted net income is anticipated to be $2.89 billion, slightly less than the $2.9 billion from Q1 but nearly $300 million more than the same period last year.In Q1 2023, Tesla reported revenues of $23.33 billion and a net income of $2.51 billion. In Q2 2022, the company posted $16.93 billion in…
Share: AUD/USD trades at 0.6762, down 0.70%, marking the fourth straight day of losses. US Department of Commerce data showed an MoM decline of -8.0% in Housing Starts, with Building Permits also falling by -3.7%. Market speculators expect the US Federal Reserve to halt rate hikes after a predicted 25 bps hike in July, with the first cut expected in March 2024. AUD/USD extended its losses to four straight days, spurred by the pair’s failure to get traction and surpass 0.6900, exacerbating a correction, with sellers eyeing a test of the 200-day Exponential Moving Average (EMA) at 0.6751.…
EURO FORECAST:The euro has risen aggressively in recent weeks, but its bullish momentum has started to fadeThe pair appears to have entered a period of consolidation amid lack of fresh market catalystsThis article looks at key EUR/USD’s technical levels to watch in the coming days Recommended by Diego Colman Get Your Free EUR Forecast Most Read: EUR/USD Breakout Gains Momentum but Fibonacci Resistance on RadarEUR/USD rallied strongly during the first half of the month, driven by broad-based weakness in the U.S. dollar following softer-than-expected U.S. inflation data. Against this backdrop, the pair soared to multi-month highs, showing a strong bullish…
Senseonics begun at underperform at Jefferies on glucose monitoring market Source link
© Reuters. FILE PHOTO: A “For Rent, For Sale” sign is seen outside of a home in Washington, U.S., July 7, 2022. REUTERS/Sarah Silbiger/File Photo By Safiyah Riddle (Reuters) – A surge in U.S. rental home construction could soften rent prices in the months ahead, a much-awaited milestone in the Federal Reserve’s effort to tame inflation even as tightening credit conditions are beginning to take the wind out of the apartment building boom. Groundbreaking on multifamily homes that have more than five units – a size that typically indicates apartment construction – decreased by 11.6% to 482,000 in June from…
Looking for more opportunities to trade the news this week? Here’s another potential catalyst for GBP pairs! The U.K. June retail sales report is comin’ right up, so let’s see what market watchers are expecting and how the pound might react. Event in Focus: U.K. retail sales data for June 2023 When Will it Be Released: July 21, 2023 (Friday), 6:00 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Headline retail sales m/m: +0.2% expected vs. +0.3% previous Relevant Data Since Last Event/Data Release: June BRC retail sales monitor rose from…