Author: FX
Gold trades lower on Thursday as the US Dollar strength weighs.The Fed delivered its first rate cut since December, lowering the federal funds rate to the 4.00%-4.25 range.The Fed’s updated dot plot signaled scope for two more cuts in 2025.Gold (XAU/USD) extends losses on Thursday after a sharp reversal following the Federal Reserve’s (Fed) interest rate decision. The metal briefly spiked to a fresh all-time high near $3,707 in the immediate aftermath of the widely expected 25-basis-point (bps) rate cut on Wednesday, but gains quickly faded as the outcome had already been largely priced in. At the time of writing,…
USD/JPY extends gains for a second day as the US Dollar firms.The Fed cut rates by 25 bps, as widely expected, while signaling a gradual easing path.Focus now turns to Japan’s CPI and the BoJ interest rate decision on Friday.The Japanese Yen (JPY) trades on the defensive against the US Dollar (USD) on Thursday, with USD/JPY extending gains for a second straight day after briefly sliding to its lowest level since July 7 in the immediate aftermath of the Federal Reserve’s (Fed) interest rate decision.At the time of writing, USD/JPY is trading around 148.00, up nearly 0.75% on the day,…
The Japanese Yen (JPY) retreated further against the US Dollar (USD) on Thursday, with the USD/JPY pair gaining almost 0.5% on the day at 147.70, after briefly bottoming out at 145.48 on Wednesday following the Federal Reserve (Fed) meeting.JPY traders now turn their attention to Friday’s monetary policy decision by the Bank of Japan (BoJ). Despite persistent inflation above 3% and growing expectations of further monetary tightening, the BoJ is expected to leave its key interest rate unchanged at 0.5%.Complex economic factors hold the BoJ backThe market is now anticipating less than a 1% probability of a BoJ interest rate…
Intel stock rises above $32 for the first time in 15 months.Nvidia has agreed to take a $5 billion stake in Intel.Intel will use Nvidia’s NVLink protocol for its data center chips.Further partnership will allow both companies to offer high-end chips to PC market.Intel (INTC) stock is trading at its highest level since July 2024 on Thursday after news broke that the Artificial Intelligence leader Nvidia (NVDA) has taken a shine to the legacy chipmaker.Nvidia will take a $5 billion stake in Intel, as well as launching a partnership with Intel to co-develop PC and data center chips.The wider equity…
Pockets of the internet have been trying to turn Nvidia into a meme stock for years with limited success but today they got some major ammunition as Nvidia announced a $5 billion investment in Intel common stock.The investment comes with an announcement that the companies will collaborate “to jointly develop multiple generations of custom data center and PC products.”Shares of Intel are up 25% shortly after the open, which is the best level since July 2024 and nearly up 100% from this year’s low.Nvidia pledged to invest $5 billion in Intel’s common stock at $23.28 per share, which lands them…
Global Net Lease, Inc. 7.375% CUM PFD E declares $0.4609 dividend Source link
Taiwan central bank raises growth forecast, warns of tariff risks Source link
Yesterday, ahead of the Fed decision, I wrote down all the things that were expected and all the potential surprises. Let’s see what we got…STATEMENTThe changes in the statement were as expected. The Fed acknowledged the weakening in the labour market and maintained the lines about elevated inflation and uncertainty. So, the only surprise here was the voting split. In fact, the expectations were for two or three members voting for a 50 bps cut (Miran, Waller, Bowman), instead we got just one (Miran). This was slightly hawkish.FOMC Statement ChangesDOT PLOTThe changes in the dot plot, on the other hand,…
Australia’s new data shows that net employment fell by 5,400 in August, significantly missing forecasts for a gain. The decline was largely driven by a sharp drop of 40,900 full-time jobs. While the unemployment rate held steady at 4.2%, the overall participation rate fell, signaling Source link
Meta launches smart glasses with built-in display, reaching for ’superintelligence’ Source link