Author: FX

CUHRIG/E+ via Getty Images Vale (NYSE:VALE) reported sharply lower Q1 net profit that came in below analyst expectations Wednesday, reflecting lower realized prices of iron ore fines and pellets, lower sales of iron ore fines, and higher costs. The company said Q1 net income from continuing operations fell 59% to $1.8B from $4.5B in the year-ago quarter, and adjusted EBITDA from continuing operations slumped to $3.6B from $6.2B a year earlier, below Refinitiv estimates of $2.4B and $4.3B respectively. Q1 net operating revenue slid 22% to $8.4B from $10.8B in the same period last year, also lagging the $9.2B consensus,…

© Reuters. FILE PHOTO: A Ukrainian service member from a 3rd separate assault brigade of the Armed Forces of Ukraine, fire a howitzer D30 at a front line, amid Russia’s attack on Ukraine, near the city of Bakhmut, Ukraine April 23, 2023. REUTERS/Sofiia Gatilova (Reuters) – Russian forces pounded the city of Bakhmut, the months-old focal point of their attempts to capture the eastern Ukrainian industrial region of Donbas, and the head of Russia’s Wagner mercenary force said Ukrainian troops were pouring in ahead of an “inevitable” counter-offensive. The general staff of Ukraine’s armed forces, in a report on Facebook…

European Central Bank Vice President Luis de Guindos spoke overnight as part of a panel discussion in Delphi, Greece. At the same event Cypriot central-bank chief Constantinos Herodotou also spoke. In brief:”We are beginning now to see the first signs of the impact in the real economy and … it’s already seen in the headline inflation, even though core inflation is sticky, so we still have to work on that,”recent financial-market tensions “may have an additional impact on financing conditions, in addition to our monetary policy, so we need to gauge that and see how it could potentially complement or…

Share: USD/CAD remains positive in the day after piercing to fresh weekly highs. USD/CAD rallies as safe-haven demand boosts US dollar amid economic concerns. BoC’s minutes assure no rate cuts are expected in 2023 but leaves room for potential adjustments if necessary The USDCAD prints a fresh four-week high at 1.3651 after the Bank of Canada (BoC) revealed its latest monetary policy minutes, which were perceived as neutral. However, a risk-off impulse and falling oil prices undermined the Canadian Dollar (CAD), a tailwind for the USD/CAD. At the time of writing, the USD/CAD is trading at 1.3642. USD/CAD…

HomeStreet downgraded to Neutral at Wedbush on funding pressures Source link

© Reuters. Universal Music Group logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) – Universal Music Group (AS:), the label representing Drake and Taylor Swift, on Wednesday posted higher first-quarter sales, helped by growth in recorded music and music publishing. Revenue in the first quarter was 2.45 billion euros ($2.71 billion), up from the 2.20 billion euros posted in the same period a year earlier. ($1 = 0.9046 euros) Source link

USD/CAD AND USD/JPY FORECAST:USD/CAD wavers after reaching a key technical resistance region, with bulls and bears fighting for control of the marketUSD/JPY heads lower and challenges trendline support as sellers eye a possible breakdownThis article looks at key technical levels to keep an eye on in the coming daysMost Read: Gold and Silver Bid Higher, Government Bond Yields Fall on Recession FearsUSD/CAD TECHNICAL ANALYSISUSD/CAD was largely flat on Wednesday despite broad U.S. dollar weakness in the FX space, oscillating between small gains and losses near the 1.3633 level, a key resistance region. The lack of direction may be due to…

The major US stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a…

For those who aren’t comfortable with purely mechanical systems or those who get carried away by their emotions in using a 100% discretionary approach, a hybrid forex trading style could work better for you. If applied properly, this type of trading can combine the best of both worlds and be a better way to trade for you. What’s the difference between a mechanical and discretionary trading style anyway? A purely mechanical system requires the trader to trust a system of signals based on price based indicators to give valid entry/exit points to produce profits over the long run. Since all you have to do…

Dollar bulls remain on the front foot amid renewed banking fears as well as risk aversion ahead of key economic data. Dollar The Greenback rolls into midweek having found some significant support around the yearly low level at 100.88, leading to the biggest daily rise in a week. Factors driving this renewed buying interest can be linked to the fading risk tolerance from investors, which has been largely driven by renewed fears of a banking fallout as disappointing earnings data from First Republic Bank failed to inspire confidence. Additionally, fears of the US debt ceiling expiration further weighed on risk…