Author: FX

It was something of a ‘catch up’ trade day for Europe as all the pain in US stocks yesterday took place after the European close. Despite that, it wasn’t that bad which is something of a win. Unfortunately though, European energy prices are soaring again and Germany’s auto manufacturing industry is being overrun by China.Closing changes:Stoxx 600 -1.5%German DAX -1.2%France CAC -1.2%UK FTSE 100 -1.2%Spain IBEX -1.5%Italy’s FTSE MIB -1.7% This article was written by Adam Button at www.forexlive.com. Source link

The British Pound trims some of its earlier gains versus the US Dollar after the Bank of England (BoE) held rates steady and pushed the GBP/USD toward its daily high of 1.2664. However, once the dust settled, the pair retreated below 1.2600, trading at 1.2578 at the time of writing. Read More… The Pound Sterling (GBP) falls sharply against its major peers in Thursday’s early North American after the Bank of England (BoE) leaves interest rates unchanged at 4.75%, as expected. The British currency faces a sell-off as three out of nine members of the Monetary Policy Committee (MPC) proposed a 25-basis points (bps) interest rate reduction. Only policymaker Swati…

Fidelity U.S. Value Currency Neutral ETF declares CAD 0.051 dividend Source link

Investing.com — ConAgra Brands, Inc. (NYSE: CAG) reported second-quarter fiscal 2025 results that exceeded analyst expectations for both earnings and revenue but lowered its full-year earnings guidance. The packaged food company posted adjusted earnings per share of $0.70, surpassing the analyst consensus of $0.68. Revenue came in at $3.2 billion, slightly above estimates of $3.15 billion. However, reported net sales decreased 0.4% YoY, while organic net sales increased 0.3%. ConAgra updated its fiscal 2025 outlook, now projecting adjusted earnings per share between $2.45 and $2.50, below the analyst consensus of $2.58 and lower than its prior target of between $2.60 and…

Don’t see persistent economic stagnation, inflation undershootingA 50 bps move would require projections showing persistent undershooting of inflationDon’t see a situation where rates would need to fall below neutralEuro weakness not creating inflationary pressuresThe message has been consistent across the board from the ECB since last week. So, this just adds to that. This article was written by Justin Low at www.forexlive.com. Source link

USD/SGD rose another leg higher, as USD strength post-FOMC overwhelmed. Pair was last seen trading at 1.3615, OCBC’s FX analysts Frances Cheung and Christopher Wong note.Near term pullback move lower is possible“Daily momentum turned bullish while RSI rose into overbought conditions. Not ruling out pullback move lower in the near term but dips may still find support. Resistance at 1.3620, 1.3670 levels. Support at 1.3510, 1.3460 (21 DMA).”“S$NEER weakened with our S$NEER index now closer to May-2024 levels. % deviation from model-implied mid has also ease to around 0.64%.” Source link

In case you missed the events from earlier:That leaves the BOE as the final major central bank policy decision for the year. But unlike the Fed and BOJ, this one should be a more uneventful and straightforward one.The BOE is expected to keep the bank rate unchanged this time around and stick with their ongoing communique. That being “a gradual approach to removing policy restraint remains appropriate”.They will continue to emphasise that on the balance of risks, they can’t move too quickly in cutting rates. And that there is still work to be done on the inflation front, although the…

Gold prices rose in Malaysia on Thursday, according to data compiled by FXStreet. The price for Gold stood at 377.71 Malaysian Ringgits (MYR) per gram, up compared with the MYR 375.35 it cost on Wednesday. The price for Gold increased to MYR 4,405.62 per tola from MYR 4,377.96 per tola a day earlier. Unit measure Gold Price in MYR 1 Gram 377.71 10 Grams 3,777.17 Tola 4,405.62 Troy Ounce 11,747.88 FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the…

The BOE gang is widely expected to keep its policies unchanged in December. We have the points you need to know if you’re trading the event! Source link

SEOUL (Reuters) – South Korea’s impeached President Yoon Suk Yeol is willing to present his views himself during legal proceedings related to his short-lived declaration of martial law, a lawyer advising Yoon said on Thursday. The lawyer, Seok Dong-hyeon, also told reporters that multiple – seemingly overlapping – investigations involving Yoon should be streamlined. “He (Yoon) has already apologised for surprising and shocking the public, and he remains apologetic for that… but he has a clear and confident position on the issues that are in dispute and must be addressed,” Seok told a briefing, adding Yoon had never even considered…