Author: FX
NATO warns Russia to stop 'escalatory' actions after Estonian airspace violation Source link
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Manuel Milan/iStock Editorial via Getty ImagesTalks over a potential €1 billion ($1.2 billion) investment by Saudi Aramco (ARMCO) in Spanish energy company Repsol’s (OTCQX:REPYF) (OTCQX:REPYY) renewables business have reached a dead end, and there are no current plans to resurrect them, Reuters reported Tuesday. The Source link
EUR/USD steady on Tuesday after PMI releases showed slowing momentum on both sides of the Atlantic.US S&P Global Composite PMI eased to 53.6 in September, below forecasts but still above 50.Traders eye Fed Chair Powell’s remarks at 16:35 GMT after cautious signals from Bowman and Goolsbee.The Euro (EUR) is treading water against the US Dollar (USD) on Tuesday after preliminary Purchasing Managers Index (PMI) releases from both sides of the Atlantic showed slowing momentum, with EUR/USD steady as the Greenback holds firm on evidence that US private sector output continues to expand despite the loss of pace.At the time of…
Federal Reserve Bank of Atlanta President Raphael Bostic said on Tuesday he could eventually support shifting the central bank’s 2% inflation target to a range.Key QuotesNew Fed policy framework is valid in many different circumstances.I would be open to using an inflation target range.Could support a 1.75% to 2.25% inflation target range at some point down the road.Fed funds rate is the Fed’s primary tool for monetary policy.Should be concerned about inflation given how long it’s been above target.Tariff impact thus far is more muted on inflation than expected.Businesses are feeling cost pressures and limits to not passing them on.Expects…
US Federal Reserve (Fed) Chair Jerome Powell said that tariff increases will likely show up as somewhat higher inflation, while speaking on the economic outlook on Tuesday.Key takeaways:We will make sure a one-time increase in prices does not become an ongoing inflation problem.Reasonable base case is that tariff-driven inflation effects will be relatively short-lived.Disinflation for services continues; most long-term inflation expectations are consistent with the 2% goal.Goods price increases largely reflect tariffs, but not broader price pressures.12-month PCE inflation was probably 2.7% in August, and core PCE was 2.3%, both up from the prior year and driven by goods prices.Consumer…
The Australian Dollar (AUD) is moving cautiously on Tuesday, as markets await the release of the monthly Consumer Price Index (CPI) for August, scheduled on Wednesday at 01:30 GMT.In the run-up to this major event, AUD/USD is stabilizing around 0.6600 after last week’s correction from near 0.6700, amid growing monetary policy uncertainty.Traders are watching closely for signs of underlying inflationary pressure, beyond the base effects of electricity subsidies. A bullish CPI surprise could revive expectations of a prolonged status quo from the Reserve Bank of Australia (RBA), or even a return of upward risk to interest rates.Wider-than-expected inflationary pressuresThe consensus…
US business activity lost momentum in September, according to the flash reading of S&P Global’s Composite PMI, which ticked down to 53.6 from 54.6 in August. The index, where any reading above 50 indicates expansion, points to a private sector that seems to be struggling to strengthen further.The details painted an upbeat picture. Manufacturing remained within growth territory, despite its PMI easing to 52 from 53, signalling waning momentum in the sector. Services, by contrast, lost a touch of steam, slipping to 53.9 from 54.5, suggesting demand there may be easing.Following the news release, Chris Williamson, Chief Business Economist at…
It’s been a pretty slow session with just a few economic reports and limited newsflow. The main highlights were the Flash PMIs for Eurozone and the UK. The Eurozone PMIs were good, especially on the services side. HCOB wrote: “eurozone is still on a growth path. Manufacturing output has increased for the seventh month in a row, and business activity in the services sector has been expanding almost continuously since February 2024.”The UK PMIs, on the other hand, missed expectations across the board and were followed by a more downbeat assessment. S&P Global noted “September’s flash UK PMI survey brought…
onurdongel/iStock via Getty ImagesPlug Power (NASDAQ:PLUG) shares have popped 7% premarket on Tuesday, after rising in the past nine consecutive sessions. Shares closed 21.7% high on Monday at $2.65, and could open at $2.84 if the premarket gain holds. Short interest in the company stands at 30.23%. Source link