Author: FX

Reserve Bank of New Zealand Chief Economist Paul Conway said late Tuesday that the interest rate will tend towards neutral in the absence of future shocks to the system as pandemic-related disruptions fade, per Reuters.   Key quotes Given uncertainty, we will need to ‘feel our way’ as the (official cash rate) gets closer to our estimate of neutral.At 4.25%, the OCR is currently still restrictive, against Reserve Bank estimates of the long-term nominal neutral interest rate being between 2.5% and 3.5%.With declining inward migration and weak productivity growth, potential output growth is likely to be modest.The Monetary Policy Committee is…

Provident Financial GAAP EPS of $0.37 misses by $0.08, revenue of $205.91M misses by $4.49M Source link

Nasdaq leads Wall St higher; tech shares recover from Monday's sell-off Source link

While the stocks continue to push higher, the USD is more stuck.EURUSD: The EURUSD moved below the 100 hour MA (at 1.04473)and swing area (1.0448 to 1.0461) in the Asian session and remains below those levels. The next key target comes in at the 50% of the move down from the December high at 1.04028 and the 50% of the range since the 2022 low (to the 2023 high) at 1.0405. The low price today reached 1.0413. The 200 hour MA is also lower (but rising) at 1.0399 currently. USDJPY: The USDJPY moved close to the 38.2% of the move…

The Canadian Dollar stuck to familiar levels on Tuesday. The Bank of Canada and the Federal Reserve are both due this week. The Loonie’s rate differential is set to widen further, limiting bullish odds. The Canadian Dollar (CAD) stuck to familiar levels on Tuesday, treading water as Loonie traders buckle down for the wait to this week’s double-header of key central bank showings. The Bank of Canada (BoC) is broadly expected to cut interest rates yet again on Wednesday, while the Federal Reserve (Fed) is set to stand pat on interest rates for most of the first half of the…

Bill Chizek/iStock Editorial via Getty ImagesLockheed Martin’s (NYSE:LMT) stock fell as much as 8.8% on Tuesday after the aerospace and defense company reported a steep decline in net income on disappointing sales. The company booked charges on classified military programs. Earnings for its fourth quarter Source link

The AUDUSD moved lower with the overall USD buying after the tariff talks from Pres. Trump and Treasury Secretary Bessent. The price decline in the early Asian session took the price away from the swing area between 0.62874 to 0.63016, below the 100-hour MA at 0.6283 and to the 200-hour MA. Some buying at the 200 hour MA initially stalled the fall, but subsequently broke below that target increasing the bearish bias. What next?The 200-hour MA area is close risk for sellers looking for more downside momentum. Move below the low for the day should give sellers more confidence to…

The US Dollar gets to keep gains but refrains from adding more.  US Durable Goods fall below expectations.  The US Dollar Index (DXY) hitted a fresh weekly high at 108.06 while trying to consolidate above the psychological 108.00 level. The US Dollar Index (DXY), which tracks the performance of the US Dollar against six different major currencies, orbits around 108.00 throughout the European session and is up over 0.50%. The Nvidia rout from Monday, where Nvidia (NVDA) lost over $600 billion in market capitalization at one point, played into US President Donald Trump’s hand regarding his plan to impose a…

Trevor Meunier/iStock Editorial via Getty ImagesCiena (NYSE:CIEN) was upgraded to Overweight from Neutral by J.P. Morgan following a 21% plunge on Monday related to DeepSeek and the market reaction to a wide array of stocks connected to artificial intelligence infrastructure. “We are picking through the Source link

Oil prices hover near two-week low, Libya supply disruption offers support Source link