Author: FX

Lithium Americas Corp ($LAC) has been one of the hottest stocks in the world this week, gaining as much as 250% from Friday’s close to today’s peak but it’s slumped since the open, in part because an analyst at Scotiabank poured cold water on the investment thesis.The saga started Tuesday on a report from Reuters saying that Trump’s administration was seeking a 10% stake in the company as part of a $2.26 billion loan in order to build its Thacker Pass lithium project in Nevada. General Motors also has a stake in the project, which would be one of the…

Fed’s Bowman – who voted for a 25 basis point cut at the most recent meeting – is out saying it is now time for the Fed to act decisively (and more): Recent data show a materially more fragile labor market, inflation ex-tariffs hovering not far above targetTime for FOMC to act decisively and proactively to address decreasing labor market dynamism, emerging signs of fragilityRecent data, including benchmark payroll revisions, show we are at serious risk of already being behind the curveShould these conditions continue, concerned we will need to adjust policy at faster pace and to a larger degree…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: investingLive is not an investment advisor, investingLive provides references and…

Major European indices had a solid day led by Spain’s Ibex which rose by 1.3%. Other major indices were up by 0.77% or more: German DAX, +0.87%France’s CAC +0.97%UK’s FTSE 100 +0.77%Spain’s Ibex +1.3%Italy’s FTSE MIB +0.96%US stocks have pushed into positive territory with the NASDAQ index leading with a gain of 0.06%: Dow industrial average +0.59%S&P index +0.34%NASDAQ index +0.06%At session lows, the NASDAQ index successfully tested its 100 hour moving average giving the buyers some hope from a technical perspective (see post here).A look around other markets shows:Crude oil is up $0.93 at $65.90.Gold is up $26.50 or…

USD/JPY retreats after a two-day rally that pushed it to its highest level in eight weeks.US core PCE inflation rose 0.2% MoM in August, in line with forecasts.The US Dollar Index eases from three-week highs as traders react to US PCE and tariff headlines.The Japanese Yen (JPY) firms against the US Dollar (USD) on Friday, with USD/JPY taking a breather after a sharp two-day rally that had propelled it to its strongest level since August 1 on Thursday. At the time of writing, the USD/JPY pair is trading around 149.50, as the Greenback’s recent rally loses momentum. The US Dollar…

In an op-ed published in The Times, Bank of England (BoE) policymaker Swati Dhingra argued that shocks driving the UK’s high inflation will fade and that they should not be overly cautious about cutting interest rates.Dhingra further added that the UK is not suffering from more food inflation than it’s peers and noted that earnings play a smaller role in the services’ Consumer Price Index (CPI).Market reactionThese comments received a dovish score of 2.0 from FXStreet BoE Speech Tracker. Nevertheless, GBP/USD clings to daily recovery gains near 1.3400 in the Americn session. Source link

NATO warns Russia after airspace incursion in Estonia, raising geopolitical risks that pressured the Euro.ECB Consumer Expectations Survey shows inflation forecast of 2.8% for one year, while the five-year projection rises modestly.Traders eye UK budget details and Eurozone inflation data, alongside Trump’s new tariffs targeting key European exports.The Euro (EUR) reverses its course against the British Pound (GBP) amid a scarce economic docket in Europe and the UK on Friday, although geopolitics could be the reason that pushed the shared currency lower. EUR/GBP trades at 0.8729, down 0.14% at the time of writing.Shared currency drops 0.14% as geopolitics overshadow light…

There is scope for US Dollar (USD) to test 7.1500 before a pullback can be expected; 7.1600 is unlikely to come into view. In the longer run, upward momentum continues to increase; if USD breaks above 7.1500, the next ‘level to watch is 7.1600, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Upward momentum continues to increase24-HOUR VIEW: “USD soared to a high of 7.1400 on Wednesday. Yesterday, Thursday, when USD was at 7.1340, we stated that ‘while the sharp rise appears to be overdone, there is scope for USD to test 7.1420 before the risk of…

The price jump in Copper, temporarily rising by almost 5% in reaction to the news that the operator of the important Grasberg mine in Indonesia has declared force majeure on contracted supplies, demonstrates how fragile market sentiment is regarding the supply situation. The production at the mine had to be halted due to an accident at the beginning of the month. At least since the treatment and refining charges at Copper smelters had virtually collapsed – indicating a shortage of raw materials – concerns about a supply shortage have increased, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen…

Gold breaks out above $3,760 and advances toward the recent ATH of $3,791.Fresh US tariffs and geopolitical tensions keep safe-haven demand for Gold underpinned.The core PCE Price Index rose 0.2% MoM and headline PCE rose 0.3% MoM in August, up from 0.2% in July.Gold (XAU/USD) extends gains on Friday, pushing past the recent $3,760-$3,720 range, as the US Dollar (USD) eases after the latest Personal Consumption Expenditures (PCE) inflation report showed no fresh upside surprises.At the time of writing, XAU/USD is consolidating around $3,780, hovering just below the all-time high of $3,791 set earlier this week. The metal is on…