Author: FX
Jan. 15, 2025 12:33 PM ETBitcoin USD (BTC-USD) CryptoMSTR, RIOT, HIVE, MARA, COIN, ETH-USD, XLM-USD, TIA-USD, UNI-USD, XRP-USD, BTBT, BRPHF, BKKT, AVAX-USDBy: Max Gottlich, SA News Editorpeshkov/iStock via Getty ImagesBitcoin (BTC-USD) drifted higher in Wednesday afternoon trading, hovering just below the $100K level, after a softer-than-forecast core inflation print reinforced bets the Federal Reserve is on track to continue lower borrowing costs this year. The most popular cryptocurrency ( Source link
NEW YORK (Reuters) – Profits at some of the biggest U.S. lenders rose in the fourth quarter as dealmaking picked up and trading was boosted by strong equity markets, sparking a rally in banking stocks on Wednesday. The market environment has been favorable for banks. Equity markets have surged, with the climbing 23.3% in 2024, while deal volumes have risen and strong demand for bond underwriting boosted investment-banking fees. Shares among the banks that reported earnings on Wednesday rose between 5.9% for Goldman Sachs and 0.9% for JPMorgan Chase (NYSE:). Bank of America and Morgan Stanley (NYSE:) will report results…
The US CPI data was more or less as expected, but the market is taking a more dovish view (I don’t really see greatness in the data, but the market is cheering). Earnings from financialalso came in better which is helping the stock market. Yields are down sharply which is also a big driver. The 10 year yield is now down -11.5 basis points or 4.675% after reaching 4.809% this week. The two year yield is down -8.9 basis points.In premarket trading for US stocks, futures implying:S&P index up 83 pointsNASDAQ index up 340 points Looking at some of the…
EUR/GBP edges lower as UK gilt yields cool down after soft inflation data for December. Traders have raised BoE dovish bets on the back of soft inflation data. The ECB is expected to cut interest rates atleast three times this year. The EUR/GBP pair edges lower to near 0.8440 in Wednesday’s North American session. Five-day rally in the cross that was built on surging yields on United Kingdom (UK) gilts appears to be losing fuel. 30-year UK gilt yields tumble from their more-than-26-year high of 5.47% to 5.38% after the release of the soft UK Consumer Price Index (CPI) report for…
Mainstreet Equity Corp. raises dividend by 45% Source link
By Hyunsu Yim and Ju-min Park SEOUL (Reuters) -Impeached South Korean President Yoon Suk Yeol was arrested and questioned by authorities on Wednesday in relation to a criminal insurrection investigation, saying he was only cooperating with what he called an illegal probe to avoid violence. His arrest, the first ever for an incumbent South Korean president, is the latest head-spinning development for one of Asia’s most vibrant democracies even though the country has a history of prosecuting and imprisoning former leaders. Since lawmakers voted to impeach him and remove him from duties after his short-lived Dec. 3 declaration of martial…
Why it’s important?The ranges of estimates are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market’s reaction is the distribution of forecasts. In fact, although we can have a range of estimates, most forecasts might be clustered on the upper bound of the range, so even if the data comes out inside the range of estimates but on the lower bound of the range, it can still create a surprise effect.Distribution of forecasts for CPICPI Y/Y 3.0% (2%)2.9% (59%) – consensus2.8% (27%)2.7% (8%) 2.6%…
GBP/JPY loses ground as the Pound Sterling loses ground after the weaker UK inflation data released on Wednesday. The UK Consumer Price Index increased by 2.5% YoY in December, staying above the BoE’s 2% target. The Japanese Yen rises due to hawkish remarks from BoJ Governor Kazuo Ueda. GBP/JPY has surrendered its recent gains from the previous session, trading around 192.00 during early European hours on Wednesday. The GBP/JPY cross depreciates as the Pound Sterling (GBP) weakens following weaker-than-expected inflation data from the United Kingdom (UK). The UK Consumer Price Index (CPI) increased by 2.5% year-over-year in December, down from…
The British pound has been struggling against the Canadian dollar, dropping from its 2024 highs to a multi-month support zone. Lately, though, GBP/CAD has calmed down from its steep declines. Could this signal a longer-term bounce? We’re taking a closer look at the 4-hour chart for clues: GBP/CAD 4-hour Forex Chart by TradingView Sterling has been under pressure since late December, weighed down by concerns over the U.K.’s fiscal conditions and the Bank of England’s dovish pivot. On the flip side, the Canadian dollar is riding high, supported by a bounce in crude oil prices and start-of-year optimism. It’s even…
By Lisa Baertlein and Ellen Zhang LOS ANGELES/BEIJING (Reuters) – U.S. imports from China finished the year strong after some companies stockpiled shipments of apparel, toys, furniture and electronics ahead of President-elect Donald Trump’s plan to impose new tariffs that could revive a trade war between the world’s economic superpowers. Trump, who has threatened to slap tariffs of 10% to 60% on goods from China, takes office on Jan. 20. During his first term, Trump mainly targeted Chinese parts and components. Economists and trade experts predict his next wave of tariffs could apply to finished goods. “There has thus been…