Author: FX
Warning: SIDU is at high risk of performing badly Source link
© Reuters. FILE PHOTO: A general view shows the Bank of England building, in London, Britain November 3, 2022. REUTERS/Toby Melville (This Dec. 15 story has been corrected to change Robert Dishner’s location to London from Chicago in paragraph 33) LONDON (Reuters) – The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase – and its eighth this year. The BoE, which is battling double-digit inflation that has unleashed a cost-of-living crisis that is pushing the economy deeper into recession, has raised rates by a combined…
Following the FED’s hawkishness on Wednesday, the ECB took it a step further. The central bank may have slowed down the pace of tightening moves, but the statement made very clear that this is not a sign that rates are anywhere close to the peak and that there will have to be further “significant” tightening to bring rates to restrictive level, in order to dampen demand and thus help to bring inflation down. “This is not a pivot, we are in it for the long game”. EUR rallied & Yields on short term credit erupted…
Should escape a ‘hard landing’ for the economyToo early to talk about the terminal rateHe also says that it is important to have “proportionate” rate hikes, which is a consistent message to Lagarde yesterday – in which she said that they may have to stick with 50 bps rate hikes for a while.ADVERTISEMENT – CONTINUE READING BELOW Source link
Mullen Automotive announces its first purchase order. Randy Marion Auto Group will buy 6,000 Class-1 vehicles. Mullen is not out of the woods, and shareholders should be cautious. To say the EV startup world is a world of fly-by-night operations and high risk is a bit of an understatement but Mullen Automotive (NASDAQ:MULN) is proving not all EV companies are alike. The latest news is a purchase order from Randy Marion Auto Group which is not only a game-changing event but a validation of the string of good news that has come out since October. There is still risk in…
Can you believe it’s the last trading day of the week? End the week on a strong note by taking advantage of Bitcoin (BTC/USD) and GBP/USD pulling back from their established trends. Get ’em while they’re near key inflection points! Bitcoin (BTC/USD) 4-hour Chart Hollah if you’re a crypto tradah! BTC/USD spiked up to 18,400 earlier this week but there were enough bears to drag the OG crypto back to the 17,400 zone. BTC is now consolidating at 17,400 which is close to the 4-hour chart’s 100 SMA and ascending channel support. Stochastic is also pointing to further gains as…
Pardee Resources Company declares $20.00 special dividend Source link
USD/JPY continued its gyrations here today, dipping after its strong Thursday gain toward 137.00. GBP, AUD, NZD, CAD all showed some strength against the USD after its huge surge on Thursday. EUR/USD was off its Thursday lows during the session here also. There was no specific fresh FX news to drive the moves.Preliminary PMIs from Australia and Japan released today were generally poor. Australian manufacturing and services PMIs both fell, services further into contraction, as did Japan’s manufacturing index. Japan’s non-manufacturing PMI rose, helped along by the reopening of tourism more widely. The results provide a warning for the flash…
AUS/USD has advanced to near 0.6735 after recovery as the risk-on profile is regaining traction. What dampened the market mood post-Fed Powell’s speech was the lack of confidence that inflation will soft further. A decline in Australian one-year consumer inflation expectations might delight the RBA. The AUD/USD pair has stretched its recovery to near 0.6735 in the Asian session as the risk-off impulse has eased. The Aussie asset rebounded after printing a fresh six-day low at 0.6680. On Thursday, the strength in the US Dollar snapped a five-day rally as investors turned extremely cautious on hawkish guidance by the Federal…
© Reuters. FILE PHOTO: A truck winds its way out of the Canadian First Quantum Frontier mine in Fungurume, in southern Democratic Republic of Congo May 25, 2010. REUTERS/Katrina Manson/File Photo By Elida Moreno and Kylie Madry PANAMA CITY (Reuters) -Panama’s government ordered Canada’s First Quantum Minerals (OTC:) on Thursday to pause operations at its flagship mine in the country after missing a deadline to finalize a deal that would have increased payments to the government from the mine. The government had given Minera Panama, which is majority-owned by First Quantum (NASDAQ:) Minerals, until Wednesday to sign an agreement reached…