Author: FX
Global markets turned cautious before the Fed’s decision as strong U.S. retail sales cooled rate cut hopes, while China’s record capital outflows and BOJ hike speculation dominated currency price action on Tuesday. Read on to see the exactly how the major assets traded in the last trading sessions! Headlines: China’s capital markets outflow reached a record high of $45.7 billion in November U.K. jobless claimants in Nov: 0.3K (28.2K expected, -10.9K previous); Average earnings accelerated from 4.4% to 5.2% (4.6% expected) in Oct; The unemployment rate steadied at 4.3% as expected in Oct IfO: Sentiment among companies in Germany has…
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The Dow Jones accelerated into further losses, falling nearly 0.8%. Losses are concentrating in the Dow as investors second-guess Fed action. Continued declines in key health and tech stocks are further dragging the Dow lower. The Dow Jones Industrial Average (DJIA) shed another 360 points at its lowest on Tuesday as losses accumulate in the key index and begin to gather speed. Investors have been chasing interest rate cuts from the Federal Reserve (Fed) since last December, but now concerns of getting too much of a good thing are giving traders cause for a pause. The Dow recovered its footing…
Leon Neal/Getty Images News Analysts at Jefferies downgraded Match Group (NASDAQ:MTCH) to “hold” from “buy” as weakness in Tinder MAU trends continues, and the research firm said it is seeing a consumer shift away from “swipe” to “prompt” dating. They noted that Tinder’s large Source link
WASHINGTON (Reuters) – U.S. President-elect Donald Trump plans to issue a flurry of executive orders and directives on his first day in office on Jan. 20, to put his stamp on his new presidency on everything from immigration to energy. Sources have told Reuters that on Day One he plans to release at least 25 orders, with more coming in the days and weeks following. Here is what we know about the executive orders so far: IMMIGRATION Many of the actions that the Republican plans on his first day as president are aimed at ramping up immigration enforcement and following…
Call it the Taylor Swift effect.CIBC highlights an unusual jump in concert and hotel prices in Canada in the November CPI report, assuredly due to the pop star’s tour through Canada in the month. Though they do wonder if the data could be lagged as the price bumps in Canada were less than seen elsewhere and she continued with shows in Vancouver in December.Overall CPI was at 1.9% y/y compared to 2.0% expected but CIBC noted outright deflation in clothing (-3.8% y/y) and furniture (-2.2%). They note that clothing price drops are “particularly uncommon” and could point to a weak…
The Mexican is drifting away from the 20.00 level with the Dollar buoyed by the positive US Retail Sales figures. Recent US data has boosted speculation that the Fed will adopt a hawkish stance after cutting rates on Wednesday. From a wider perspective, USD/MXN is on a bearish trend but needs an extra boost to breach the 20.00 level. The Mexican Peso (MXN) is trading lower on Tuesday, pulling back from 20.00 level against the US Dollar (USD). A higher-than-expected increase in US Retail Sales data has confirmed the positive outlook of the US economy bolstering the case for a hawkish Federal Reserve…
MediPharm Labs (OTCQB:MEDIF) said it will sell its facility in Napanee to Kensana Health for $5.5 million in cash. The deal is through a disposition of all of the company’s indirect equity interests in its unit ABcann Medicinals. Kensana Health will acquire Source link
SAO PAULO/JOHANNESBURG (Reuters) – Brazilian digital bank Nubank said it has invested $150 million in Tyme Group, a digital bank with 15 million customers in South Africa and the Philippines, funding that will help Tyme Group finance its push into Southeast Asia and list by 2028. In a statement on Monday, Nubank said Tyme Group’s series D funding round totalled $250 million, with M&G Catalyst Fund subscribing for $50 million and existing shareholders providing a further $50 million. Having completed its latest investment round, Singapore-based Tyme Group, backed by China’s Tencent, has also achieved unicorn status after securing the funds…
Fundamental OverviewThe USD continues to consolidate around the highs except against the commodity currencies where it’s been having the upper hand. The US inflation data last week was once again a disappointment although the data that feeds into the Core PCE was overall benign as forecasters expect a 0.13% M/M increase. Nonetheless, the Treasury yields continue to climb and are now back around the post-US election highs. There’s some understandable uneasiness in the bond market given the hot US data and the Fed continuing to cut into an accelerating economy. On the CAD side, the BoC recently dropped the line…