Author: FX
The BOE delivered a more dovish rate hike yesterday while the ECB more or less met expectations with their decision. However, Lagarde wasn’t exactly firm with her communique as the central bank just committed to one more 50 bps rate hike in March. There was an attempt to try and walk that back here but the damage has been done and suddenly the Fed doesn’t sound that much more dovish when compared to the ECB.Broader markets cheered the policy decisions as both stocks and bonds rallied, though the Dow was a bit of a bummer in US trading yesterday. The…
If you haven’t gotten enough of this week’s top-tier reports and announcements then you gotta look at the U.S. non-farm payrolls release! The U.S. NFP, unemployment rate, and average hourly earnings numbers will be printed today at 1:30 pm GMT. Markets expect Uncle Sam to add a net of 193K jobs in January. This is slower than December’s 223K increase, and may be enough to push the unemployment rate higher from 3.5% to 3.6%. U.S. Dollar Index (DXY): 4-Hour U.S. Dollar Index (DXY) 4-Hour Forex Chart by TradingView In his presser earlier this week, Fed Chairman Powell shared that it’s…
© Reuters. FILE PHOTO: The outside of the Nordstrom flagship store is seen during a media preview in New York, U.S., October 21, 2019. REUTERS/Shannon Stapleton/File Photo By Svea Herbst-Bayliss NEW YORK (Reuters) -Billionaire investor Ryan Cohen is building a large stake in Nordstrom Inc (NYSE:) and plans to push the upscale retailer to shake up its board as its performance has lagged behind rivals, people familiar with the matter said on Thursday. Cohen, who built his fortune by co-founding online pet retailer Chewy (NYSE:) Inc and cemented it with investments in videogame retailer GameStop (NYSE:) and Apple Inc (NASDAQ:),…
NoDerog Nordstrom (NYSE:JWN) soared over 30% in after hours trading on a report that activist investor Ryan Cohen has taken a large stake in the department store chain and wants board changes. Cohen is said to be one of the top five non-family holder of the retailer, according a WSJ report, which cites people familiar. Cohen wants to replace at least one director and is focused on former Bed Bath & Beyond (BBBY) CEO Mark Tritton, who the activist believes is conflicted. Cohen, the Chairman of GameStop (GME) and founder of online pet retailer Chewy (CHWY), wants to engage with…
Shanghai Composite is down over 1%, as is Shenzen.Hong Kong down 2%News out of China is not too negative, the PMI improved:and travel between Hong Kong, Macau and the mainland is being made easier. The discovery of a Chinese spy balloon over the continental US is not helping foreign sentiment towards China equities Equities Equities can be defined as stocks or shares in a company that investors can buy or sell. For example, when you buy a stock, you are purchasing equity, thereby becoming a partial owner of shares in a specific company or fund.Equities do not pay a fixed…
AUD/USD has dropped to near 0.7064 as the market mood has soured. The upbeat Caixin Services PMI at 52.9 failed to provide support to the Australian Dollar. An interest rate hike of 25 bps is expected from the RBA next week. The AUD/USD pair has printed a fresh day’s low at 0.7064 despite the IHS Markit has reported upbeat Caixin Manufacturing PMI (Jan) data. The economic data has landed at 52.9, significantly higher than the consensus of 47.3 and the prior release of 48.0. China’s Services PMI has remained upbeat despite households being busy celebrating the Lunar New Year festival in January’s…
Crude Oil, US Dollar, WTI, Brent, FOMC, Fed, BoE, ECB. OPEC+ China – Talking PointsCrude oil prices found some support after a tumultuous weekThe Fed, BoE and ECB tightening has raised recession concernsOPEC+ maintain its target while China resurfaces. Where to for WTI? Recommended by Daniel McCarthy Get Your Free Oil Forecast Crude oil has had a torrid week so far with wider market movements overshadowing the optimism of China re-joining the global economy.The Federal Reserve, the European Central Bank (ECB) and the Bank of England (BoE) all tightened monetary policy in the last few days. While stocks have broadly…
© Reuters. The Pentagon building is seen in Arlington, Virginia, U.S. October 9, 2020. REUTERS/Carlos Barria By Idrees Ali and Phil Stewart WASHINGTON (Reuters) -A suspected Chinese spy balloon has been flying over the United States for a couple of days, and senior U.S. officials have advised President Joe Biden against shooting it down for fear the debris could pose a safety threat. The incident recalls the lengths to which Beijing and Washington have been willing to go to spy on each other amid rising tensions between the superpowers. “The United States government has detected and is tracking a high-altitude…
<p>PBOC CNY reference rate is due around 0115 GMT.</p> This article was written by Eamonn Sheridan at www.forexlive.com. Source link
US Dollar, Jobless Claims, Apple & Amazon Earnings – Asia Pacific Market Open:US Dollar pivots on Thursday after disappointing WednesdayUpbeat jobless claims data underscored data-dependent FedSoft Apple & Amazon earnings may benefit DXY before NFPs Recommended by Daniel Dubrovsky Get Your Free USD Forecast Asia-Pacific Market Briefing – US Dollar Gains on Jobless Claims DataThe US Dollar outperformed its major peers on Thursday, with the DXY Index gaining 0.56%. That was the best single-day performance in almost one month. It also marked a significant reversal from yesterday’s price action. On Wednesday, markets continued betting against the Federal Reserve despite Chair…