Author: FX
All eyes and ears were on U.K. Chancellor Rachel Reeves Budget Statement this week, with markets zoned in on every clue and headline ahead of the actual announcement. So when the U.K. government’s fiscal watchdog (Office for Budget Responsibility) accidentally published the entire Budget an hour before Reeves could even deliver her speech, it’s no surprise that absolute chaos broke out. Markets moved, traders scrambled, and one of the most anticipated economic events of the year turned into a tragicomedy. Beyond the embarrassing leak, this Budget matters for anyone trading sterling, U.K. stocks, or just trying to understand how government…
General sworn in as Guinea-Bissau leader in swift coup after disputed vote Source link
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EUR/USD shows moderate losses heading into the European midday, trading near 1.1585 after rejection above 1.1600 earlier on Thursday. Eurozone Consumer Confidence data has failed to surprisinvestors although market confidence that the Federal Reserve will ease its monetary policy further over the coming months is keeping US Dollar, bulls in check.Economic data released on Wednesday revealed a larger-than-expected increase in US Durable Goods Orders and a decline in weekly Initial Jobless Claims, but that did not alter the view that the US central bank will cut rates by 25 basis points after their December meeting.Beyond that, rumours that White House…
Univest Securities announced the closing of an $8M registered direct offering for its client MingZhu Logistics (YGMZ). The company sold 8 million units at $1.00 per unit to select institutional investors, with each unit consisting of one ordinary share or a pre-funded Source link
Prior -24.1German consumer morale picked up a little heading into the holidays with GfK noting that “consumer sentiment is currently at almost exactly the same level as last year”. Adding that while it does “show a certain stability in consumer sentiment”, the flip side is that “it shows that consumers do not expect a drastic recovery in the short-term”. In terms of economic expectations, that is seen sliding back down to -1.1 from 0.8 in October. This article was written by Justin Low at investinglive.com. Source link
The Japanese Yen (JPY) remains on the front foot against a weaker US Dollar (USD) through the Asian session on Thursday and currently trades near a one-week top, touched the previous day. Investors remain alert amid the possibility that Japanese authorities could step in to stem any further weakness in the domestic currency. This, along with reviving bets for an imminent interest rate hike by the Bank of Japan (BoJ) in December, turns out to be a key factor that provides a modest lift to the JPY.However, the prevalent risk-on environment, along with concerns about Japan’s worsening fiscal position amid…
Hong Kong fire kills 44, hundreds missing as police blame ‘gross negligence’ Source link
Will we see further consolidation on EUR/CAD? The pair appears to be finding a ceiling at the top of its range once more, possibly setting its sights lower. Take a look at these near-term inflection points. EUR/CAD 4-hour Forex Chart by TradingView The lack of major catalysts from both the eurozone and Canada seems to be keeping EUR/CAD inside its range that’s been holding for nearly a month already. The pair has been keeping its head above support near S1 (1.6170) and is currently testing resistance near R1 (1.6310) and looks ready to head back down again. Or will we…
Bank of Korea Governor Rhee Chang-yong said Thursday’s policy decision was not unanimous, revealing that board member Shin Sung-hwan dissented. Shin argued domestic demand remains too weak to justify the board’s majority position. Rhee noted that three other board members indicated they were open to a near-term rate cut, highlighting a more divided committee as growth risks persist.Rhee said Korea’s economic growth next year is expected to be close to its potential rate, but cautioned that heightened foreign-exchange volatility remains a key concern, particularly given its potential pass-through to inflation. The remarks underscore the BoK’s delicate balancing act between managing…