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Vinci Q1 Revenues Up 4.8%

Apr 25, 2024 | 16:22 pm

Vinci SA announced its first-quarter revenues this Thursday, revealing they've risen to 15.73 billion euros. This is a 4.8% increase from the 15.00 billion euros reported the previous year. The revenue surge also represents a 4.2% growth on a comparable basis.Gains were noted across multiple divisions. Concessions saw a significant 6.6% rise, amounting to 2.35 billion euros. Vinci Energies saw a growth of 5%, reaching 4.62 billion euros, while the Vinci Construction division increased its revenue by 3.9%, reaching 7.00 billion euros.Revenue within France totaled 7.07 billion euros, marking a 4.1% increase on an actual basis, and a 4.0% growth on a like-for-like basis. International revenues also saw a boost, amounting to 8.67 billion euros. This signified a 5.4% increase on an actual basis and 4.5% growth on a like-for-like basis.The material has been provided by InstaForex Company - www.instaforex.com

Swiss Market Ends Notably Lower

Apr 25, 2024 | 16:20 pm

The Swiss market saw a significant decline this Thursday, mirroring a trend across European markets. Investors largely focused on updates regarding earnings, proceeding cautiously due to the uncertainty surrounding the Federal Reserve's interest rates.The fact that the benchmark Swiss Market Index (SMI) ended lower by 110.13 points or 0.97% at 11,260.61—only about 25 points from the day's lowest point of 11,345.29—illustrates this downturn.Company-wise, Straumann Holding witnessed a 2.59% fall, while Givaudan shares ended 2.02% lower.Nestle also saw a decrease of 2.02% after the Swiss food and drink powerhouse failed to meet the estimated growth in organic sales for the first quarter. Their total sales during this period amounted to 22.1 billion Swiss francs—a drop of 5.9% from the previous year—with foreign exchange diminishing sales by 6.7% and net divestitures negatively impacting by 0.6%.The company's organic sales growth at the group level for the quarter was 1.4%, led by performance in Europe and emerging markets. North America, however, had a negative impact. The pricing was 3.4%, following a high base of comparison in 2023.Other Swiss companies such as Holcim, Swiss Life Holding, Lonza, and Alcon also saw losses ranging from 1.7 to 1.77%. Roche Holding, Sonova, Geberit, SIG Group, Swiss Re, Partners Group, Sika, and Richemont ended lower by 1.1 to 1.6%.Tecan Group's losses were nearly 4%, while Georg Fischer, Temenos Group, Baloise Holding, Belimok Holding, and Avolta all experienced significant declines.On the other hand, Novartis, Barry Callebaut, Lindt Spruengli, and the Swatch Group saw gains ranging from 0.7 to 1%. Meyer Burger Tech and ams OSRAM AG saw an increase of about 2% and 1.5%, respectively.The material has been provided by InstaForex Company - www.instaforex.com

European Stocks Close Lower As Investors React To Earnings, Economic Data

Apr 25, 2024 | 16:01 pm

European stocks ended the trading day lower on Thursday as investors processed various earnings reports and economic data from both Europe and the United States. Despite several companies reporting strong quarterly earnings, disappointing updates and revenue guidance from a number of high-profile European and American companies led to a cautious trading atmosphere throughout much of the day.This sense of caution was further fueled by data indicating a surge in the U.S. personal consumption expenditures price index, sparking fears that the Federal Reserve might maintain higher interest rates for an extended time period.The pan-European Stoxx 600 decreased by 0.64%, while the UK's FTSE 100 increased by 0.48%. In contrast, Germany's DAX and France's CAC 40 saw losses of 0.95% and 0.93% respectively, with Switzerland's SMI also shedding 0.97%. Other European markets, including Austria, Belgium, Denmark, Finland, Greece, Netherlands, Poland, Spain, and Sweden, registered varying degrees of losses. The markets in Norway, Portugal, and Russia closed weak while Turkey remained flat.In the UK, Anglo American Plc shares surged by over 16% following a proposed takeover by mining giant BHP Group, aiming to create the world's largest copper miner. Barclays Group saw its shares climb by about 6.75% after the bank reported a smaller-than-expected drop in first-quarter profit. Meanwhile, Unilever shares rose by 5.7% as the company surpassed first-quarter sales forecasts and maintained its full-year guidance for underlying sales growth.Strong performers in the German market included Deutsche Bank, which saw an increase of about 8.5%. Infineon and Commerzbank also recorded gains, while food delivery company Delivery Hero rose by 6.5% after announcing robust Q1 results and upgrading its FY24 revenue outlook.In the French market, despite WorldLine experiencing losses of more than 6%, Sanofi made gains of more than 4% after reaffirming its 2024 adjusted earnings per share forecast.Latest data from the U.S. Commerce Department revealed that the personal consumption expenditures price index escalated by 3.4% in Q1, following a 1.8% increase in Q4. Excluding food and energy prices, the PCE price index rose by 3.7% in Q1.In Europe, surveys showed a projected increase in Germany's consumer confidence in May, whilst France's manufacturing confidence declined in April due primarily to the deteriorating order books. In the UK, retailers reported a significant drop in April sales, as indicated by results from the monthly Distributive Trades survey conducted by the Confederation of British Industry.The material has been provided by InstaForex Company - www.instaforex.com

United States 7-Year Note Auction Sees Increase in Interest Rates

Apr 25, 2024 | 15:00 pm

In the latest update from the United States, the 7-Year Note Auction has shown a significant increase in interest rates. The previous indicator was at 4.185%, while the current indicator has jumped to 4.716%. This uptick in interest rates indicates a shift in investor sentiment and potentially reflects changes in the economic landscape. The data was last updated on 25 April 2024, and financial experts will be closely monitoring the implications of this development on the broader financial markets. Stay tuned for more updates on how this event may impact the economy and investment strategies.The material has been provided by InstaForex Company - www.instaforex.com

Textron Stock Drops On Q1 Earnings, Job Cuts

Apr 25, 2024 | 14:14 pm

Textron Inc.'s shares are taking a hit, dropping over 12 percent following the company's first-quarter earnings report, which fell short of analysts' predictions. The company has also announced staff reductions.In the recent quarter, the company reported a profit of $201 million, or $1.03 per share, a slight increase from the $191 million, or $0.92 per share, reported during the same period last year.Analyzing adjusted earnings, there was a rise to $233 million or $1.20 per share, up from $218 million or $1.05 per share in the previous year. However, this was still below the analysts' projection of $1.23 per share.Textron's revenue for the recent quarter climbed 4 percent, reaching $3.14 billion, an increase from last year's $3.02 billion.Additionally, the Rhode Island-based company announced plans to execute layoffs, targeting about 4 percent of its global workforce. This equates to about 1,500 employees, a decision driven by a broad-based restructuring plan.Currently, Textron's stock value is declining by 12.34 percent, down to $82.41 from the previous close at $94.01 on the New York Stock Exchange.The material has been provided by InstaForex Company - www.instaforex.com

Disappointing Earnings News, GDP Data Weighing On Wall Street

Apr 25, 2024 | 14:13 pm

After a sluggish trading session yesterday, today's financial market has taken a sharp downturn. Major market indicators including the Dow, Nasdaq, and S&P500 closed significantly lower than the previous day's closing figures.At the close of trading, the Dow stood 644.68 points (or 1.7%) lower at 37,816.24. The Nasdaq, similarly, was down by 261.43 points (or 1.7%) at 15,451.32. The S&P500 showed a decrease of 66.42 points (or 1.3%) ending at 5,005.21.The considerable market drop was, in part, due to an unfavorable response to the quarterly earnings report from Meta Platforms, the parent company of Facebook. Despite beating estimates for both the welcome and bottom lines, Meta provided a less than satisfactory second quarter revenue forecast, resulting in a drastic 12.4% drop in its shares.Another factor contributing to market pressures was the weaker than predicted first-quarter revenues reported by tech company IBM Corp. The tech company also announced the acquisition of HashiCorp at $35 a share, a deal worth $6.4 billion.Contrarily, Merck, another Dow component, reported first quarter results surpassing analyst expectations, leading to a considerable increase in its shares.The market turbulence followed the release of a report by the commerce department showing less than predicted growth in the U.S. economy in Q1 2024. The Gross Domestic Product showed a 1.6% increase in the quarter, a stark contrast to the 3.4% surge experienced in the last quarter of 2023. The figures fell short of economists' 2.5% growth expectation.Price index figures excluding energy and food also showed a sharp increase. Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance, noted that if neither inflation nor economic growth and corporate profits improve, the consequence could be detrimental to the markets.In sector news, software traded weakly, with Dow Jones U.S. Software Index dropping to a three-month intraday low. There was notable weakness among telecom stocks, with NYSE Arca North American Telecom Index falling to its lowest intraday level in over eight months. A significant drop was also noticeable in airline stocks, while gold stocks showed resilience.In international markets, trends were mixed across the Asia-Pacific region with Japan's Nikkei 225 taking a significant hit, dropping 2.2% while Hong Kong's Hang Seng climbed 0.5%. Europe presented a mixed picture as well with the UK's FTSE 100 increasing by 0.3%, whereas the German DAX and the French CAC 40 both decreased by 1.1%.Finally, in the bond market, the yield on the ten-year note increased by 6.0 basis points to 4.712 percent, indicating an extension of the downturn seen in the previous session.The material has been provided by InstaForex Company - www.instaforex.com

U.S. Pending Home Sales Surge 3.4% In March, Much More Than Expected

Apr 25, 2024 | 13:37 pm

In March, U.S. pending home sales exceeded expectations greatly, as revealed in a report by the National Association of Realtors (NAR). The Association's pending home sales index emerged at 3.4 percent, hitting 78.2 in March, a significant climb from February's 1.6 percent increase to 75.6. This far outstripped economists' modest expectation of a 0.3 percent rise.A pending home sale is defined as a sale where a contract has been signed but not finalized. Typically, it takes between four to six weeks to conclude a contracted sale."March's Pending Home Sales Index stands at 78.2, representing the highest performance in a year. However, it has hovered within a reasonably narrow range over the past 12 months without ever reaching a noticeable surge," NAR Chief Economist Lawrence Yun stated. "Substantial gains will only be achievable with decreasing mortgage rates coupled with climbing inventory."The geographical areas driving this surge have been the South and West, where pending home sales soared by 7.0 and 6.8 percent, respectively. Meanwhile, the Northeast observed a 2.7 percent rise in pending home sales, while the Midwest saw a dip of 4.3 percent.The Association anticipates existing sales to climb by 9.0 percent to 4.46 million in 2024, with an additional jump of 13.2 percent to 5.05 million predicted for 2025. "Given that there's been a static period at the 30-year lows for home sales, and that we have 70 million more Americans residing in the country in comparison to three decades ago, a surge in sales in the forthcoming years is inevitable," explains Yun.In a separate report, the Commerce Department showed a significant rise in new home sales in March. There was an 8.8 percent jump to an annual rate of 693,000 in March, following a 5.1 percent drop to a revised rate of 637,000 in February, once again exceeding the economists' forecast of new home sales reaching an annual rate of 668,000 from the 662,000 previously reported for the prior month.The material has been provided by InstaForex Company - www.instaforex.com

United States 4-Week Bill Auction Yields 5.275% in Latest Event

Apr 25, 2024 | 13:30 pm

In the recent 4-Week Bill Auction in the United States, the yield has come in at 5.275%, slightly lower than the previous auction which had a yield of 5.28%. This new data was updated on April 25, 2024, with no specific dates mentioned for the previous events. The slight decrease in the yield indicates a potential shift in investor sentiment or market conditions affecting short-term government securities. Investors and analysts will be closely monitoring these auction results for insights into the current economic landscape and future trends in the financial markets.The material has been provided by InstaForex Company - www.instaforex.com

United States 8-Week Bill Auction Stops at 5.275% Yield

Apr 25, 2024 | 13:30 pm

The latest 8-Week Bill Auction in the United States has come to a close, with the yield reaching 5.275%. This figure is consistent with the previous auction, indicating a stable demand for these short-term government securities. The data was last updated on April 25, 2024, showing that investors continue to show interest in these low-risk investment opportunities.8-Week Bill Auctions are closely watched by investors and analysts as they provide insight into the government's borrowing costs and overall market sentiment. The fact that the yield has remained steady suggests a level of confidence in the economic outlook and the financial stability of the United States. As global economic conditions continue to evolve, market participants will be monitoring these auctions closely for any signs of changing investor sentiment or shifting market dynamics.The material has been provided by InstaForex Company - www.instaforex.com

T-Mobile, EQT Form JV To Acquire Fiber-to-the-home Platform Lumos

Apr 25, 2024 | 13:23 pm

T-Mobile, in partnership with investment firm EQT, recently announced that they will be entering into a joint venture. The venture, backed by EQT's Infrastructure VI fund, aims to acquire the fiber-to-the-home platform, Lumos, from EQT's prior fund, EQT Infrastructure III.This partnership promises to combine T-Mobile's capabilities in retail, marketing, and customer services with EQT's expertise in fiber infrastructure investment. Lumos' ability to build scalable fiber networks will be a key feature of this venture, aiming to provide customers across the U.S. with superior high-speed fiber internet connectivity.Once the acquisition is finalized, Lumos will shift to a wholesale model, with T-Mobile serving as the primary tenant. T-Mobile will own customer relationships and leverage its brand to attract new subscribers. Lumos currently offers fiber optic internet and home wi-fi service to 320,000 homes over a distance of 7,500 route miles in the Mid-Atlantic region.The joint venture will concentrate on identifying and selecting markets, network engineering and design, network deployment, and customer installation. Subject to standard closing conditions and regulatory approvals, the transaction is projected to close between late 2024 and early 2025.Upon closing, T-Mobile plans to invest around $950 million in the venture to acquire a 50% equity stake and all existing fiber customers. Lumos will use these funds for future fiber builds. T-Mobile's next capital contribution—estimated at around $500 million—is expected to happen between 2027 and 2028.With these investments, Lumos is projected to reach 3.5 million homes by the end of 2028. T-Mobile also plans to complete its remaining authorization for share repurchases and dividends in 2024.Through this transaction, EQT Infrastructure VI anticipates being invested at 35-40% of its targeted fund size, assuming it receives customary regulatory approvals.The material has been provided by InstaForex Company - www.instaforex.com

Stellantis Announces Launch Of Ram's New Off-Road Truck Lineup

Apr 25, 2024 | 13:17 pm

Stellantis N.V. unveiled its latest Ram off-road truck range on Thursday. The new collection includes both light-duty and heavy-duty models, each specifically designed for maximized performance and adaptability.The notable auto manufacturer announced the pricing for the newly released Ram models. The starting price for the 2025 Ram 1500 RHO is $69,995, followed by the 2025 Ram 1500 Rebel at $64,195, and the 2025 Ram 1500 Warlock is priced at $54,260. Coming to the heavy-duty offerings, the prices start from $68,470 for the 2024 Ram 2500 Power Wagon, and the 2024 Ram 2500 Heavy Duty Rebel is priced at $68,965.Stellantis, the parent company of renowned brands like Chrysler and Fiat, provided information about the new powertrain options for these models as well. The models are equipped with engines ranging from a 3.0-liter Hurricane Standard Output Straight-Six Turbo, the all-new 3.0-liter Hurricane High Output SST engine, to a 3.6-liter Pentastar V-6 engine. The heavy-duty truck variants come with the 6.4-liter HEMI V-8 engine and Cummins I-6 turbodiesel.The current stock price of Stellantis is $24.40, reflecting a 1.85 percent decrease on the New York Stock Exchange.The material has been provided by InstaForex Company - www.instaforex.com

AbbVie's Rinvoq Shows Positive Results Over Dupixent In Atopic Dermatitis Study

Apr 25, 2024 | 13:15 pm

On Thursday, AbbVie Inc. announced positive findings from the LEVEL UP Phase 3b/4 study. This study compared the efficiency and safety of AbbVie's drug Upadacitinib, or Rinvoq, to Regeneron Pharmaceuticals and Sanofi's drug, Dupilumab, also known as Dupixent. The trial specifically focused on the use of these drugs to treat moderate-to-severe atopic dermatitis in adults and teenagers.Rinvoq outperformed Dupixent, as it was more effective at hitting predefined levels of improved skin health. The trial used specific clinical scores, such as 90% reduction or greater in the Eczema Area and Severity Index and a Dermatology Life Quality Index of 0 or 1 at the 16-week point.The results also demonstrated Rinvoq's superior performance over Dupixent on all secondary outcomes, which included more rapid progress towards complete skin clearance and reduced itching.AbbVie plans to share the full results of this LEVEL UP study at an forthcoming medical conference.The material has been provided by InstaForex Company - www.instaforex.com

U.S. Pending Home Sales Surge Much More Than Expected In March

Apr 25, 2024 | 13:03 pm

The National Association of Realtors reported a significant surge in U.S. pending home sales in March. The index, a measure of housing contract activity, rose by an impressive 3.4 percent to reach 78.2 in March, following a 1.6 percent increase to 75.6 in February. This growth far exceeded economists' predictions of a mere 0.3 percent rise.A pending home sale refers to a sale where a contract has been signed but the deal has not yet been finalized. Typically, it would take between four to six weeks to close such a sale.The material has been provided by InstaForex Company - www.instaforex.com

KC Fed Composite Index Drops to -8 in April 2024

Apr 25, 2024 | 13:00 pm

In a recent economic development, the Kansas City Federal Reserve reported that the KC Fed Composite Index fell to -8 in April 2024. This drop comes after the indicator had previously stalled at -7 in March 2024. The updated data was released on 25th April 2024, indicating a continuing decline in economic activity in the region.The KC Fed Composite Index serves as a key measure of economic performance in the United States, specifically in the region covered by the Kansas City Federal Reserve. A decrease in this index suggests a slowdown in economic growth and overall business activity. Analysts will be closely monitoring future updates to assess the impact of this decline on the broader national economy.The material has been provided by InstaForex Company - www.instaforex.com

KC Fed Manufacturing Index Drops to -13 in April 2024

Apr 25, 2024 | 13:00 pm

The Kansas City Federal Reserve's manufacturing index for the United States took a hit in April 2024, dropping to -13 from -9 in March 2024. This marked a significant decline in manufacturing activity in the region. The data, which was updated on April 25, 2024, indicates a slowdown in the manufacturing sector, reflecting challenges and uncertainties faced by manufacturers. Economists and market analysts will be closely monitoring future reports to assess the impact of this downturn on the overall economic outlook for the country.The material has been provided by InstaForex Company - www.instaforex.com

U.S. Economic Growth Slows Much More Than Expected In Q1

Apr 25, 2024 | 12:49 pm

On Thursday, a report issued by the Commerce Department revealed that economic growth in the United States was significantly lower than anticipated for the first quarter of 2024. According to the report, the Gross Domestic Product (GDP) demonstrated only a 1.6 percent increase for the first quarter of this year, a stark contrast to the 3.4 percent surge seen in the last quarter of 2023. Economists had originally predicted a GDP jump of 2.5 percent.The modest GDP growth for the first quarter can be attributed to increases in state and local government spending, nonresidential and residential fixed investment, as well as consumer spending. On the contrary, the overall positive impact was somewhat mitigated due to a decrease in private inventory investment and an increase in imports, which are traditionally seen as a negative factor in GDP calculations.The Commerce Department pointed out that the significant loss of momentum in the GDP growth for this quarter compared to the last was primarily due to a deceleration in consumer spending, state and local government spending, alongside exports, and a downturn in federal government expenditure.The report also highlighted that growth in consumer spending reduced to 2.5 percent from the previous 3.3 percent in the fourth quarter. The figures reveal that while there is an increase in service expenditure, spending on goods is on a decline.Jeffrey Roach, Chief Economist for LPL Financial, predicts further economic deceleration in the forthcoming quarters as consumers appear to be nearing the end of their spending spree. He attributes this to the pressure exerted on consumers by persistent inflation, resulting in declining savings rates.In terms of inflation, data from the Commerce Department shows that the personal consumption expenditures price index saw a notable increase of 3.4 percent in the first quarter, rising from 1.8 percent in the last quarter. When food and energy prices are excluded, the index spiked by 3.7 percent, up from the 2.0 percent jump in the fourth quarter.Roach anticipates inflation will gradually ease this year as aggregate demand slows down. However, he notes that achieving the 2% target set by the Federal Reserve could still take considerable time.The material has been provided by InstaForex Company - www.instaforex.com

T-Mobile, EQT Form Joint Venture To Buy Lumos

Apr 25, 2024 | 12:48 pm

T-Mobile US, Inc., a major player in the telecommunications sector, has announced a joint venture with EQT AB Group, an investment company. The venture involves EQT's Infrastructure VI fund which will purchase the fiber-to-the-home platform, Lumos, previously belonging to EQT Infrastructure III.The finalized transaction is projected to occur between late 2024 and early 2025 during which T-Mobile is expected to invest about $950 million. This investment will grant T-Mobile a 50% equity stake in the joint venture along with all current fiber customers.In the interval of 2027 and 2028, T-Mobile is further projected to make an additional capital contribution of approximately $500 million. With these collective investments, Lumos is anticipated to expand its reach to about 3.5 million homes by the end of 2028.This venture will combine T-Mobile's customer experience and retail, marketing, and brand prowess with EQT's expertise in fiber infrastructure investment.Upon completion of the transaction, Lumos, presently providing fiber optic internet and home wi-fi service to 320,000 households over an extensive 7,500 route miles in the Mid-Atlantic region, plans to transition to a wholesale model in collaboration with T-Mobile to attract new customers.The venture will zero in on the identification and selection of markets, network engineering and design, network deployment, and customer installation.The material has been provided by InstaForex Company - www.instaforex.com

Meta Shares Sink 14% Following Outlook

Apr 25, 2024 | 12:31 pm

The stock value of Meta Platforms, Inc. (previously known as Facebook, Inc.) dropped considerably by over 14% in pre-market trading on Thursday, falling to $420.88. This decrease was largely due to the company's announced revenue projection for the second quarter.Meta has predicted its Q2 revenue to fall between $36.5 billion to $39 billion. This estimate stands in sharp contrast to the anticipated average prediction of $38.28 billion, according to a poll of 42 analysts conducted by Thomson-Reuters.Adding to the complexity, Meta also revised its projected capital expenditures for the entire fiscal year. The company adjusted its forecast from the initial $30 billion-$37 billion range to a staggering $35 billion-$40 billion. This substantial increase in spending primarily aims to expedite the development of its artificial intelligence products.As of the most recent close, Meta's shares stood at $493.50. Over the past year, the company's stock has varied between $229.85 and $531.49.The material has been provided by InstaForex Company - www.instaforex.com

Natural Gas Storage in the United States Reaches 92B, Surpassing Previous Levels

Apr 25, 2024 | 12:30 pm

In a significant development for the energy market, the natural gas storage levels in the United States have surged to 92 billion cubic feet, surpassing the previous indicator of 50 billion cubic feet. The data, last updated on 25 April 2024, indicates an increase in the stockpiles of natural gas, pointing towards a potential oversupply in the market.The rise in natural gas storage levels can impact prices and trading activities in the energy sector. With higher inventories, there could be downward pressure on prices as supply outstrips demand. Traders and analysts will closely monitor the situation to assess the implications on the market dynamics and adjust their strategies accordingly.Investors in the energy market will need to stay informed about the developments in natural gas storage levels, as it can have a direct impact on their portfolios. The current increase highlights the importance of keeping track of such fundamental data to make informed decisions in the ever-changing world of commodities trading.The material has been provided by InstaForex Company - www.instaforex.com

OSI Systems Q3 Results Top Estimates; Boosts FY24 Adj. EPS Growth Outlook

Apr 25, 2024 | 12:21 pm

OSI Systems, Inc. announced a significant rise in net income for the third quarter, moving from $21.81 million or $1.27 per share this period last year to $34.04 million or $1.95 per share this year.When discounting specific items, the adjusted earnings increased to $2.16 per share, in contrast to last year's third quarter which was $1.49 per share. According to a consensus from four analysts from Thomson Reuters, they expected the company's report to show earnings of $2.10 per share for this quarter. It's common for these kind of estimates to not take into account special items.In regards to total net revenues, there has been considerable growth. This year's third quarter saw $405.41 million, an increase from the prior year's $302.89 million during the same period. Predictions for this quarter's revenues were slightly lower, at $403.46 million.OSI Systems has updated their forecast for fiscal 2024, anticipating their adjusted earnings per share to increase by more than 30 percent, a bump from the previous prediction of more than 29 percent growth. They are still estimating over 19 percent in revenue growth.For the year, Wall Street is projecting earnings of $8.02 per share, with a revenue increase of 18.90 percent, which would total $1.52 billion.The material has been provided by InstaForex Company - www.instaforex.com

Cullen/Frost Bankers Q1 Net Income Declines

Apr 25, 2024 | 12:20 pm

Cullen/Frost Bankers, Inc. (CFR) disclosed a net income of $134.0 million available to common shareholders for the first quarter. This signifies a drop from the previous year's $175.98 million. If we omit particular items, the net income would be approximately $140.1 million, a decline of 20.4 percent compared to the first quarter of 2023. The per-share net income available to common shareholders was $2.06, as opposed to the previous year's $2.70. If the impact of the FDIC special assessment accrual isn't considered for the first quarter, the per-share earnings would have been $2.15, indicating a decrease of 20.4 percent compared to the first quarter of 2023. An average poll by Thomson Reuters of 16 analysts anticipated the company would have a per-share profit of $2.12 for the quarter, with special items generally excluded from such estimates.Implementing a taxable-equivalent basis, the net interest income for the first quarter of 2024 was $411.4 million, showing a decline of 3.4 percent when compared to the corresponding quarter in 2023. Conversely, total non-interest income saw an increase, rising to $111.38 million from 2023's $105.27 million. On average, revenue was estimated to be $515.99 million, according to analysts.The material has been provided by InstaForex Company - www.instaforex.com

KKR To Buy Student Housing Properties For Around $1.64 Bln From BREIT

Apr 25, 2024 | 12:14 pm

Investment giant KKR & Co. Inc. (KKR) has announced a deal with Blackstone Real Estate Income Trust, Inc. (BREIT) whereby KKR-managed funds will acquire a collection of 19 purpose-built student housing properties from BREIT, at an approximate cost of $1.64 billion.The purchase is to be principally backed by the KKR Real Estate Partners Americas III Fund. The properties in question comprise of 19 premium, purpose-built student accommodations, which together offer over 10,000 beds. These properties are scattered across ten states, predominantly around 14 prominent four-year public universities.Following the deal’s conclusion, anticipated for the third quarter, the portfolio will be overseen by KKR’s University Partners, a US-based student housing owner and operator. After the acquisition, University Partners will own and manage over 25,000 beds, corresponding to nearly $4 billion of property value collectively invested by KKR and other stakeholders.Emphasizing the strategic benefits of the transaction, Travis Roberts, CEO of University Partners, stated that approximately half of the acquired portfolio is located in areas where they already have operational experience. This deal will enable University Partners to broaden their reach into several lucrative new markets. Mr. Roberts further expressed his belief in the continued growth and demand for student housing, particularly in top university markets, attributable to robust enrollment growth and structural constraints on new supply.It is noteworthy that BREIT originally acquired this property portfolio in 2018, in collaboration with Greystar Real Estate Partners, LLC.The material has been provided by InstaForex Company - www.instaforex.com

PHINIA Reaffirms FY24 Outlook - Update

Apr 25, 2024 | 12:11 pm

PHINIA Inc. (PHIN) reaffirmed its financial outlook for fiscal year 2024 during its first quarter results announcement on Thursday. This projection includes net earnings of approximately $125 million to $160 million, and net sales in the region of $3.42 billion to $3.58 billion.Market analysts from Thomson Reuters had predicted that the company would have earnings per share of $4.15, on a total revenue of $3.48 billion for the year. Commonly, these estimated figures do not account for any unique, non-recurring items.The material has been provided by InstaForex Company - www.instaforex.com

US Pending Home Sales Rise by 3.4% in March, Surpassing Previous Month's 1.6% Increase

Apr 25, 2024 | 12:00 pm

In a positive turn of events for the United States real estate market, pending home sales saw a notable rise of 3.4% in March 2024. This growth surpassed the previous month's increase of 1.6%. The data, updated on April 25, 2024, indicates a promising trend in the housing sector.The month-over-month comparison reveals a significant improvement in the number of homes under contract for sale. This increase suggests growing confidence among homebuyers and indicates a potentially strong market ahead. With the housing market being an integral part of the country's economy, this surge in pending home sales bodes well for future economic outlooks. Investors and industry experts will be closely monitoring these developments in the coming months to gauge the sustainability of this positive trajectory.The material has been provided by InstaForex Company - www.instaforex.com

Pending Home Sales Index Rises to 78.2 in March, Reflecting Optimism in US Housing Market

Apr 25, 2024 | 12:00 pm

The Pending Home Sales Index in the United States has shown a positive trend, rising to 78.2 in March 2024, up from 75.6 in February 2024. This increase indicates growing optimism in the US housing market. The data, updated on April 25, 2024, reveals a promising outlook for the real estate sector, suggesting that more homes are likely to be sold in the coming months.The rise in the Pending Home Sales Index could be attributed to factors such as low mortgage rates, a strong job market, and overall economic stability. With more Americans feeling confident about their financial situations, the demand for housing is expected to remain robust. This upward trend in pending home sales bodes well for the broader economy, as real estate activity often correlates with consumer spending and economic growth. As we move forward, analysts will be closely monitoring the housing market for further insights into the state of the US economy.The material has been provided by InstaForex Company - www.instaforex.com

US encourage Europe & Asia alliesto tighten restrictions on chip related technology China

Apr 25, 2024 | 10:29 am

The US is encouraging Europe and Asia allies to tighten restrictions on chip related technology and tools to China. Report says US is concerned about rising concerns about hallways development of advanced semi conductors.What other countries to make it harder for China to circumvent US restrictions specifically making it more difficult for companies from third countries to supply China with items that include technology produced in Japan and South Korea or the Netherlands This article was written by Greg Michalowski at www.forexlive.com.

U.S. Treasury auctions off $44 billion of the seven year notes at a high yield of 4.716%

Apr 25, 2024 | 10:02 am

High Yield: 4.716WI level at the time of the auction: Actual: 4.716%Tail (the Tail is the difference between the WI level trading just prior to the auction and the auction high yield. A negative tail is indicative of a strong auction):Actual: 0.0 basis pointsSix-auction average: +0.65 basis pointsBid-to-Cover (the Bid to Cover is the number of bids from investors versus the supply of notes on sale. A higher number is indicative of stronger demand):Actual: 2.48XSix-auction average: 2.57XDealers (the Dealers provide Liquidity and are a backstop in the event of lower than anticipated domestic and international demand. A high % is indicative of low demand from the normal investors. :Actual: 13.9% %Six-auction average: 15.1%Directs (the Directs are a measure of domestic US demand. A higher number than the six month average is indicative of strong domestic demand):Actual: 21.0%Six-auction average: 17.1%Indirects (the Indirects are a measure of international demand. In higher number than the six month average is indicative of strong foreign demand for the issue. The vast majority of US debt is sold to foreign investors):Actual: 65.1%Six-auction average: 67.8%AUCTION GRADE: CNo tail. The WI level and the high yield was right on the screws. The Bid to cover was a bit low. The domestic demand was stronger, but the international demand was a bit weak vs historical average. This article was written by Greg Michalowski at www.forexlive.com.

U.S. Treasury to auction off $44 billion of 7- year notes at the top of the hour

Apr 25, 2024 | 09:55 am

The U.S. Treasury will auction off $44 billion of seven-year notes at the top of the hour. The auction will conclude the coupon issuance for the week. The two and five year note options were middle-of-the-road. Yields are higher today after the higher inflation data in the US GDP, but off the highs for the day. Nevertheless, yields are at their highest levels for the year across the curve.Below is a review of the major components from the last 7-year auction along with the six month averages of those components. The auction results will be compared to those components. High Yield:Previous: 4.185%Six-auction average: 4.298%Tail (the Tail is the difference between the WI level trading just prior to the auction and the auction high yield. A negative tail is indicative of a strong auction):Previous: -0.8 basis pointsSix-auction average: +0.65 basis pointsBid-to-Cover (the Bid to Cover is the number of bids from investors versus the supply of notes on sale. A higher number is indicative of stronger demand):Previous: 2.61XSix-auction average: 2.57XDealers (the Dealers provide Liquidity and are a backstop in the event of lower than anticipated domestic and international demand. A high % is indicative of low demand from the normal investors. :Previous: 12.9%Six-auction average: 15.1%Directs (the Directs are a measure of domestic US demand. A higher number than the six month average is indicative of strong domestic demand):Previous: 17.4%Six-auction average: 17.1%Indirects (the Indirects are a measure of international demand. In higher number than the six month average is indicative of strong foreign demand for the issue. The vast majority of US debt is sold to foreign investors):Previous: 69.7%Six-auction average: 67.8% This article was written by Greg Michalowski at www.forexlive.com.

Mexican Peso dips as US inflation rises, trimming Fed rate cut hopes

Apr 25, 2024 | 09:45 am

The Mexican Peso (MXN) fell during the North American session on Thursday, depreciating more than 0.5% against the US Dollar following the release of the Gross Domestic Product (GDP) in the United States (US) for the first quarter of 2024, which was weaker than expected.

Canadian Dollar spreads on Thursday after mixed US data flummoxes markets

Apr 25, 2024 | 09:30 am

The Canadian Dollar (CAD) spread on Thursday, giving a mixed performance and sticking close to familiar technical levels after US data printed in both directions early in the US market session.

US Dollar finds footing with mild gains following GDP and labor market data

Apr 25, 2024 | 09:05 am

The US Dollar Index (DXY) is seen trading mildly down at 105.75 on Thursday and struggling to gain more ground following its extended rally in April.

Major European indices close lower. US stocks lower. Yields are higher.

Apr 25, 2024 | 08:46 am

European indices are closing lower on the day:German DAX, -0.91%France CAC, -0.93%UK FTSE 100, +0.48%Spain's Ibex, -0.40%Italy's FTSE MIB, -0.97%European yields are also higher:German 10 year yield reached a high of 2.647%. That was the highest level going back to November 27. Current yield 2.67%France's 10-year yield also moved to its highest level since the end of November. It currently yields 3.127% after reaching a high of 3.149%.UK 10-year yields reach its highest level since November 3. It's high-yield today reached 4.396% (currently at 4.37%).Italy 10-year reaches its highest level since December 12, 2023. The high-yield Ridge 4.035%. It is currently trading just below 4% at 3.998%.As London/European traders look to exit for the day, US stocks remain under pressure:Dow Industrial Average down -588.0 points or -1.53% at 37872S&P index -60.18 points or -1.19% at 5011NASDAQ and that -256.24 points or -1.63% at 15456.34.The small-cap Russell 2000 index is down -28.54 points or -1.43% at 1966.85.US yields are moving higher. The 2-year yield extended back about the 5% level but is just below that level at 4.991% currently. The U.S. Treasury will auction 7-year notes at 1 PM ET2-year yield 4.991%, +5.4 basis points5-year yield 4.715%, +5.6 basis points10 year yield 4.701%, +4.8 basis points30-year yield 4.816%, +3.3 basis points. This article was written by Greg Michalowski at www.forexlive.com.

United States 4-Week Bill Auction dipped from previous 5.28% to 5.275%

Apr 25, 2024 | 08:34 am

United States 4-Week Bill Auction dipped from previous 5.28% to 5.275%

United States Kansas Fed Manufacturing Activity dipped from previous -9 to -13 in April

Apr 25, 2024 | 08:03 am

United States Kansas Fed Manufacturing Activity dipped from previous -9 to -13 in April

EUR/JPY Price Analysis: Rallies to almost 16-year high, buyers eye 167.00

Apr 25, 2024 | 07:46 am

The Euro rallied to a near 16-year high against the Japanese Yen, hitting levels last seen in August 2008, with the latter remaining the laggard in the FX space.

Gold price steadies while high US Q1 GDP Inflation dents Fed rate cut hopes

Apr 25, 2024 | 07:36 am

Gold price (XAU/USD) sustains above the crucial support of $2,300 in Thursday’s early New York session.

Israel has increased airstrikes on the Rafah area

Apr 25, 2024 | 07:36 am

Israel has increased airstrikes on the Rafah area.The price of crude oil is still trading lower on a day at $82.20 that down around $-0.60 on the day..Earlier today, Hamas official Abu Zuhri said:Hamas will not be swayed by US pressure on issue of Gaza hostages.Firm on demand that Israel and the Gaza war as part of any deal to release hostages.The wonder is how many hostages are there to release?Spot gold is a 1%, and in the process is extending back above its 100 hour moving average at $2335.14 This article was written by Greg Michalowski at www.forexlive.com.

United States EIA Natural Gas Storage Change registered at 92B above expectations (87B) in April 19

Apr 25, 2024 | 07:30 am

United States EIA Natural Gas Storage Change registered at 92B above expectations (87B) in April 19

Mexican Peso weakens against USD after release of US GDP data

Apr 25, 2024 | 07:28 am

The Mexican Peso (MXN), which is especially sensitive to risk aversion, trades overall lower on Thursday after weakening on souring market sentiment and rising geopolitical tensions.

Pound Sterling steadies while US Dollar rises on persistent price pressures

Apr 25, 2024 | 07:26 am

The Pound Sterling (GBP) aims to hold strength near the psychological resistance of 1.2500 against the US Dollar (USD) in Thursday’s early American session.

Goldman Sachs: The composition of the GDP report was not as soft as it looked

Apr 25, 2024 | 07:22 am

The fallout from today's first look at Q1 GDP continues to reverberate with the US dollar stronger and equities weaker because of hot inflation numbers.Goldman Sachs highlights that the composition of growth wasn't as soft as the headlines (+1.6% vs +2.4% exp)."The contribution from inventories (-0.4pp vs. GS +0.2pp) and foreign trade (-0.9pp vs. -0.4pp) accounted for the bulk of the miss," economists at Goldman write. "Indeed, domestic demand growth proceeded at a strong pace of +2.8% annualized. This reflected a double- digit pace of residential investment growth (+13.9%) and solid growth in consumption (+2.5%) and business fixed investment (+2.9%), the latter reflecting gains in two of the three capex subcategories (equipment +2.1%, intellectual property +5.4%, structures -0.1%)."Goldman also highlights that government spending slowed more than they expected with federal spending contributing negatively to GDP.However it was the pricing numbers in the PCE report that caught the market most off guard. The WSJ's Nick Timiraos calculates that it implies +0.48% core PCE in tomorrow's report versus the +0.3% consensus. Goldman Sachs doesn't appear to be convinced as they only boosted their core estimate to +0.33% from 0.30%. That would put core at 2.84% y/y, compared to the 2.7% consensus.The numbers are due out Friday at 8:30 am ET. This article was written by Adam Button at www.forexlive.com.

EUR/USD down sharply after US GDP data

Apr 25, 2024 | 07:20 am

EUR/USD sherpa-treks higher on Thursday, with a foothold now above 1.0700 as it continues its labored recovery from the 1.0601 April lows.

AUD/USD ends its winning streak after release of US GDP data

Apr 25, 2024 | 07:09 am

AUD/USD trades back below 0.6500 on Thursday, after peaking at 0.6539 earlier in the day.

United States Pending Home Sales (YoY) climbed from previous -7% to 0.1% in March

Apr 25, 2024 | 07:02 am

United States Pending Home Sales (YoY) climbed from previous -7% to 0.1% in March

Oil retreats with rates higher for longer bad for growth

Apr 25, 2024 | 07:02 am

Oil prices edge up on Thursday as traders digest the US Crude Inventory release, which was taken as bullish for near-term prices. Overall, the release showed a chunky draw of 6.368 million barrels, which puts the US inventory at its lowest level since

US Treas Secretary Yellen: GDP data shows straight a consumer investment spending

Apr 25, 2024 | 07:00 am

US Treasury Secretary Yellen in a interview with Reuters says:GDP data shows straight in consumer investment spending.US economy shows robust growth, firing on all cylindersThere could be revisions to GDP data.I still see in underlying core drivers of economic activity considerable strength.We are on downward path for inflation.Rents have stabilized, but a lot of people still experiencing the upward adjustment to higher levels.I have no doubt that housing's contribution to inflation will be coming down this year.Not seen that wage pressures are a source of inflationCertainly don't see the economy as overheated.We've got a good strong US economy, lifting growth all around the world.Fed wants to see additional evidence of a sustainable decline in inflation.Methods are concerned with high cost-of-living.Biden's top priority is to address high cost of healthcare, bring down drug prices.Feds first priority is to set monetary policy to be consistent with price stabilityDollar has been strong, there are divergences with other countries.Key factor in dollars valuation is strength in the US economy, level of rates.My position has been that currency intervention is acceptable only in very rare and exceptional circumstances.We do have to have sustainable fiscal pathWe have enacted some deficit reduction despite divisions in Congress.Consumer spending in China is incredibly low.China exporting its way to full employment is not acceptable to the rest of the world.US experience China shock after China's export surged to the US following its admittance to WTOChina shock was a huge loss of manufacturing jobs in parts of the US that have not recovered.Part of the US have really been left behind, free trade has to be something that benefits people throughout the country.We would be prepared to use authority to sanction Chinese banks if necessary.With the Fed in the quiet period of their interest-rate decision on May 1, the ex-chair of the Federal Reserve will have to do. However, her hat as change to one of "Independent" Fed official to a political appointment from the Biden administration on This article was written by Greg Michalowski at www.forexlive.com.

US pending home sales for March 3.4% versus 0.8% estimate

Apr 25, 2024 | 07:00 am

Prior month 1.6%Pending home sales month on month change +0.4% versus 0.8% expectedPending home sales index 78.2 vs 75.6 last monthPending home sales +0.1% from March 2023 This article was written by Greg Michalowski at www.forexlive.com.

United States Pending Home Sales (MoM) came in at 3.4%, above forecasts (0.3%) in March

Apr 25, 2024 | 07:00 am

United States Pending Home Sales (MoM) came in at 3.4%, above forecasts (0.3%) in March

US Dollar heads back to flat as dust settles over US GDP and PCE print

Apr 25, 2024 | 06:50 am

The US Dollar (USD) is retreating from its earlier peak after upbeat Personal Consumption Expenditures (PCE) print and upbeat Price Index numbers under the umbrella of the Gross Domestic Product (GDP) release. These elements ahead of the US PCE

FTSE 100 outperforms as US GDP disappoints

Apr 25, 2024 | 06:46 am

It’s been a surprising week for the markets. Firstly, the US tech giants did not impact the markets as a unified block with the market favouring Tesla’s results over those from Meta, which is on track to record a deep decline on Thursday.

US stocks open sharply lower on inflation/low growth concerns

Apr 25, 2024 | 06:35 am

Meta-announcer earnings after the close yesterday and warned about higher expenses due to AI buildout investment. Caterpillar revenues missed as well. IBM is also getting hit in premarket trading after they announced their earnings. So some earnings misses. pressured stocks coming into the day. The US GDP then added another layer of negativity after it showed lower growth and higher inflation (stagflation). The markets do not like that word. The core PCE data for the current month will be released tomorrow at 8:30 AM ET with expectations of 0.48% MoM now being touted by some analysts.A snapshot of the market currently shows:Dow Industrial Average average -500 points or -1.31% at 37958S&P index -70.83 points or -1.40% at 5000.34NASDAQ index -350.0-2.25% at 15258The small-cap Russell 2000 is also lower by -25 points or -1.27% at 1970.10Looking at some individual stocks:IBM -8.6%Meta Platforms, -15.3%ServiceNow -5.6%Amazon -4.8%Caterpillar -7.43%Microsoft -4.30%Alphabet -4.11%Microsoft, Alphabet, Intel, T-Mobile, Gilead all report after the close today.Looking at the US yields, they are sharply higher with the 2-year yield trading above 5%:2-year yield 5.018%, +8.1 basis points5-year yield 4.745%, +8.7 basis points10-year yield 4.733%, +7.7 basis points30-year yield 4.838%, +5.5 basis pointsCrude oil is trading down $0.20 at $82.61.Bitcoin is moving lower on risk off (?) flows (I never know). The current price is trading at $63,262. The high-price today was at $64,708. The low price was $62,785. This article was written by Greg Michalowski at www.forexlive.com.

Silver Price Analysis: Silver price could be forming a Bear Flag price pattern

Apr 25, 2024 | 06:35 am

Silver (XAG/USD) price may have formed a Bear Flag pattern on the 4-hour chart which bodes ill for the precious metal’s price going forward.

US yields move to new session highs. The 2 &10 year yields at highest level since November

Apr 25, 2024 | 06:21 am

US yields are moving to new session highs with the 2-year yield now back above 5.0% as traders price out rate cuts in 2024 even more. The 2-year yield is trading at its highest level since November 14, 2023. The high-yield in 2023 for the two-year note reached 5.259%.The 10 year yield is at its highest level since November 1, 2023. The high yield for the 10-year bond in 2023 reached 5.021%.2-year yield 5.018%, plus a .1 basis points5-year yield 4.745%, plus a .7 basis points10 year yield 4.731%, +7.7 voice points30-year yield 4.840%, +5.6 basis pointsStocks continue to get hit with the NASDAQ leading the way:Dow Industrial Average average -474.0 or -1.23%S&P index -70 points or -1.39%NASDAQ index -320 points or -1.82% This article was written by Greg Michalowski at www.forexlive.com.

Russia Central Bank Reserves $: $603.2B vs $600.7B

Apr 25, 2024 | 06:00 am

Russia Central Bank Reserves $: $603.2B vs $600.7B

US GDP expands less that expected in Q1

Apr 25, 2024 | 05:59 am

The US Bureau of Economic Analysis (BEA) will publish the first estimate of the US Gross Domestic Product (GDP) for the January-March period on Thursday.

US weekly Initial Jobless Claims decline 207K vs. 214K expected

Apr 25, 2024 | 05:53 am

There were 207,000 initial jobless claims in the week ending April 20, the weekly data published by the US Department of Labor (DOL) showed on Thursday.

Stocks/bonds don't like GDP inflation numbers.Stocks lower. Yield higher. US dollar higher

Apr 25, 2024 | 05:46 am

US stocks have added another like to that outside after US GDP came in weaker but the inflation measures were higher. The core PCE prices for the quarter rose 3.7% higher than the 3.4% estimate. That has investors worried about lower growth/ higher prices. Not good.In premarket trading:Dow Industrial Average -436 pointsS&P index -56.3 pointNASDAQ index -249 pointLooking at the US debt market, yields are higher as well:2 year yield 4.987%, +5.0 basis points5-year yield 4.710%, +5.1 basis points10 year yield 4.697%, plus or .4 basis points30-year yield 4.812%, +2.9 basis pointsThe US dollar has moved higher as well:EURUSD is trading back below the 1.0700 level at 1.0685. 100-day moving average comes at 1.06779 and is the next target on the downside.GBPUSD was trading above it 100-day moving average on a 4-hour chart at 1.25149. The current price is trading at 1.2476. The broken 38.2% retracement of the April trading range is below at 1.2455. Earlier today, the price based against that level before moving higher.USDJPY is moving back to the upside and trading at 155.64 after reaching a low of 155.30 on the initial reaction to the lower GDP. The bounce back off of the higher inflation, as a person back toward the high for the day near 155.734. That high represents the highest level since 1990.The markets are now discounting around 35 basis points of cuts between now and the end of the year. That compares to 42 basis points prior to the data dump today. This article was written by Greg Michalowski at www.forexlive.com.

Canada Feb average weekly earnings 4.53% vs 3.88% prior

Apr 25, 2024 | 05:37 am

Prior was 3.88% (revised to +3.74%) This article was written by Adam Button at www.forexlive.com.

US March wholesale inventory advanced -0.4% versus 0.4% (revised from 0.5%) last month

Apr 25, 2024 | 05:36 am

Wholesale inventories prior month +0.5% revised to 0.4%. Retail inventory ex air prior month +0.4% revised to +0.3%Advance Wholesale Inventories -0.4%Wholesale inventories were $896.2 billion, a decrease of -0.4% from February 2024.Year-over-year, wholesale inventories were down by -2.1% from March 2023.The monthly change from January to February 2024 was revised slightly from a 0.5% increase to a 0.4% increase.Advance Retail Inventories ex air -0.1%advance retail sales ex air -0.1% versus +.3% last monthRetail inventories were $788.1 billion, an increase of 0.3% from February 2024.Year-over-year, retail inventories were up by 4.4% from March 2023.The monthly change from January to February 2024 remained unrevised at a 0.5% increase. This article was written by Greg Michalowski at www.forexlive.com.

United States Gross Domestic Product Annualized registered at 1.6%, below expectations (2.5%) in 1Q

Apr 25, 2024 | 05:31 am

United States Gross Domestic Product Annualized registered at 1.6%, below expectations (2.5%) in 1Q

United States Gross Domestic Product Price Index climbed from previous 1.7% to 3.1% in 1Q

Apr 25, 2024 | 05:31 am

United States Gross Domestic Product Price Index climbed from previous 1.7% to 3.1% in 1Q

United States Core Personal Consumption Expenditures (QoQ) above expectations (3.4%) in 1Q: Actual (3.7%)

Apr 25, 2024 | 05:31 am

United States Core Personal Consumption Expenditures (QoQ) above expectations (3.4%) in 1Q: Actual (3.7%)

United States Personal Consumption Expenditures Prices (QoQ) increased to 3.4% in 1Q from previous 1.8%

Apr 25, 2024 | 05:31 am

United States Personal Consumption Expenditures Prices (QoQ) increased to 3.4% in 1Q from previous 1.8%

United States Initial Jobless Claims 4-week average down to 213.25K in April 19 from previous 214.5K

Apr 25, 2024 | 05:30 am

United States Initial Jobless Claims 4-week average down to 213.25K in April 19 from previous 214.5K

United States Goods Trade Balance came in at $-91.8B below forecasts ($-91.2B) in March

Apr 25, 2024 | 05:30 am

United States Goods Trade Balance came in at $-91.8B below forecasts ($-91.2B) in March

United States Continuing Jobless Claims below forecasts (1.81M) in April 12: Actual (1.781M)

Apr 25, 2024 | 05:30 am

United States Continuing Jobless Claims below forecasts (1.81M) in April 12: Actual (1.781M)

United States Initial Jobless Claims came in at 207K, below expectations (214K) in April 19

Apr 25, 2024 | 05:30 am

United States Initial Jobless Claims came in at 207K, below expectations (214K) in April 19

United States Wholesale Inventories registered at -0.4%, below expectations (0.2%) in March

Apr 25, 2024 | 05:30 am

United States Wholesale Inventories registered at -0.4%, below expectations (0.2%) in March

US initial jobless claims 207K versus 215K estimate

Apr 25, 2024 | 05:30 am

Prior week initial jobless claims 212Kinitial jobless claims 207K vs 215K estimate4-week moving average initial jobless claims 213.25K vs. 214.50K last weekPrior week continuing claims 1.812M revised to 1.796MContinuing claims 1.781M vs. 1.805M estimate4- week MA of continuing claims1.794M vs 1.802.25 last weekContinuing claims fell and was revised lower. Initial jobless claims was lower as well indicative of a solid job market This article was written by Greg Michalowski at www.forexlive.com.

US Q1 advance GDP +1.6% vs +2.4% expected

Apr 25, 2024 | 05:30 am

Weakest since Q1 2023Final Q4 reading was +3.3% annualized (revised to +3.4%)Q3 was +4.9% annualizedDetails:Consumer spending +2.5% vs +3.3% priorConsumer spending on durables -2.1% vs +3.2% priorGDP final sales 2.0% vs +3.9% priorGDP deflator 3.1% vs 3.0% expected (1.7% prior)Core PCE +3.7% vs +3.4% expected (+2.0% prior)Business investment +3.2% vs +0.7% priorPercentage point changes:Net trade pp -0.86 vs +0.32 pp prior Inventories -0.37 pp vs -0.47 pp priorGovt +0.21pp vs +0.79 pp priorThe market was pricing in 41.5 bps of Fed rate cuts this year with the July meeting priced roughly 50/50 ahead of the data. The market is focused on the hotter PCE numbers in the report afterwards and priced in a more-hawkish Fed at 36.5 bps. It's notable that tomorrow we get the PCE report and the market is adjusting to price in something a tad hotter.As for GDP itself, inventories may help to explain some of the delta as the March wholesale inventory data released alongside this report fell 0.4%. Ultimately though, you take it at face value at 1.6% annualized growth isn't the kind of thing that's going to spur demand-driven inflation. With that, I think the market is too focused on tomorrow's PCE report here and no focused enough on a slowing economy and what it will mean for PCE report in the months beyond.When you go through a lot of the details, it's healthcare spending (that's the USA) and non-residential fixed investment (IRA and CHIPS Act). Goods spending subtracted 0.09 pp from GDP. This article was written by Adam Button at www.forexlive.com.

US March advanced goods trade balance $-91.83 billion versus $-91.1 billion estimate

Apr 25, 2024 | 05:30 am

Prior month $-90.3 billionInternational Trade in Goods:The international trade deficit increased by $1.5 billion to $91.8 billion.Exports decreased by $6.1 billion to $169.2 billion.Imports decreased by $4.6 billion to $261.0 billion. This article was written by Greg Michalowski at www.forexlive.com.

The first look at Q1 US GDP is coming up next

Apr 25, 2024 | 05:19 am

It's a busy slate on the US economic calendar today with Q1 GDP kicking things off along with initial jobless claims, advance goods trade balance for March, wholesale inventories and Canadian average weekly earnings.The consensus on GDP is 2.4% while the Atlanta Fed tracker was at 2.7%. The high estimate is Goldman Sachs at 3.1% while Julius Baer is at 1.5%. The Q4 'final' reading was 3.3% but that could be revised as well.The broader market is in a bad mood and the US dollar is moderate lower. Shares of META are down 16% in the premarket. This article was written by Adam Button at www.forexlive.com.

ForexLive European FX news wrap: Dollar, stocks down awaiting US GDP data

Apr 25, 2024 | 04:54 am

Headlines:US data comes into focus in the second half of the weekThe line in the sand is shiftingJapan's economy minister to attend BOJ policy meeting tomorrowECB's Schnabel says may be facing a bumpy last mile on disinflationGermany May GfK consumer sentiment -24.2 vs -26.0 expectedFrance April business confidence 99 vs 100 priorUK April CBI retailing reported sales -44 vs 2 priorMarkets:AUD leads, JPY lags on the dayEuropean equities lower; S&P 500 futures down 0.6%US 10-year yields down 0.4 bps to 4.650%Gold up 0.6% to $2,329.53WTI crude up 0.1% to $82.22Bitcoin down 0.1% to $63,955There wasn't too much action in European trading today as the market moves were rather straightforward during the session.The dollar is seen down slightly ahead of the US Q1 advance GDP data coming up later. The greenback is lagging across the board, as we get close to some key technical levels on the charts.Of note, GBP/USD is up to a two-week high above 1.2500 but faces up against its 38.2 Fib retracement level at 1.2526. Meanwhile, AUD/USD is also running up against its 200-day moving average at 0.6526 on the day. Besides that, EUR/USD is up 0.2% to 1.0720 while USD/CAD is down 0.2% to 1.3670 currently.As for USD/JPY, it continues to hold above the 155.00 mark and hovering around 155.50-70 mostly during the session.In the equities space, Meta's earnings disappointment is reverberating and spooking investors. It's dragging down tech shares but also weighing on broader sentiment as well. European stocks are mostly down as such while S&P 500 futures are lower by 0.6%.It's now over to the slew of US data later and how traders will take to that, putting everything into the mix on the Fed outlook again. This article was written by Justin Low at www.forexlive.com.

Japan's economy minister to attend BOJ policy meeting tomorrow

Apr 25, 2024 | 03:37 am

It is not commonplace for government officials to attend any central bank meeting, so this is definitely a peculiar one. But I guess it speaks to the delicate situation regarding the Japanese yen at the moment. The last time this happened was back in December last year, and before that was all the way back in April 2020 during the pandemic. If there is no firm pushback by Ueda tomorrow, traders might take that as a green light to sell the yen further. USD/JPY is relatively unfazed by the headline for now, staying underpinned at 155.60 currently. This article was written by Justin Low at www.forexlive.com.

UK April CBI retailing reported sales -44 vs 2 prior

Apr 25, 2024 | 03:01 am

Prior 2This was the worst April performance for retail sales since 2020, although CBI says that the earlier timing of Easter may have something to do with it. The expected retail sales for May isn't any better either, with the reading coming in at -19. In the month before, the expected retail sales for April was -25. This article was written by Justin Low at www.forexlive.com.

Stocks stay on the cautious side so far on the day

Apr 25, 2024 | 02:38 am

The softer mood overall is also permeating in Europe, as investors are spooked by Meta's earnings disappointment. As such, tech shares are the ones leading the downside so far on the day. It sets up for a pullback after the decent showing over the last few days. The focus will now turn towards the US Q1 advance GDP data later, then the US PCE price index tomorrow.Eurostoxx -0.5%Germany DAX -0.5%France CAC 40 -0.5%UK FTSE +0.6%S&P 500 futures -0.5%Nasdaq futures -0.8%Dow futures -0.3% This article was written by Justin Low at www.forexlive.com.

GBP/USD bounces to two-week high, what levels to watch out for?

Apr 25, 2024 | 01:55 am

It has been quite the bounce in cable this week, after the poor showing on Monday especially. The pair moved down to test 1.2300 before rebounding by over 200 pips now to 1.2520 levels. Of note, buyers have turned the near-term bias in their favour and things might yet continue in the sessions ahead.So, what are the key levels to be mindful of should the bounce this week extend?First up is the 38.2 Fib retracement level at 1.2526, offering some minor resistance for now. Above that is the 200-day moving average (blue line) at 1.2559 and that is a more pivotal level to be wary of. Sellers will look to lean on that to quell any further upside momentum, so that will be one to watch in the days to come.Looking over to the fundamentals, a key catalyst for any moves this week will be US data as outlined here. The dollar is ceding some ground after a good showing in early April and the data in the next two days might go some ways in deciding its overall fate on the month.The BOE looks slated for an August rate hike and traders were punished for trying to sneak in a June move in the last few weeks. For now, the odds of an August move are ~90% priced in. So, unless traders are going to switch back to thinking about June, the pound's downside on this front might be more limited. That especially since the BOE has also made clear that they aren't quite favouring a move as early as two months from now.Meanwhile, the Fed pricing shows ~96% odds of a rate cut in September. That comes after some hotter US data in early April, but there seems to be a bit of a rethink again after some cooler ones lately. It's all about moving with the data flow and if we do get some softer US data in the next two weeks, a July move (50% priced in now) might even be on the table.As such, the balance of risks appear to have shifted a bit for GBP/USD. That as well considering the technical momentum to the downside has been arrested earlier this week. This article was written by Justin Low at www.forexlive.com.

AUD/USD nudges higher to test key technical resistance again

Apr 25, 2024 | 01:27 am

And that is seeing AUD/USD buyers capitalise a little in pushing price back towards the 200-day moving average (blue line), seen at 0.6526 on the day. The pair saw price movement capped by the key technical level yesterday and here we are testing it again. As much as buyers look to be trying, they'd need confirmation from US data in the next two days to solidify any convictions.But for now at least, there is some decent momentum being held following the stronger Australia CPI data this week.Besides the 200-day moving average, there is also the 61.8 Fib retracement level (red) at 0.6536 to offer some added resistance. But I'd wager a break of the former to give buyers more momentum overall. That might even allow for a push to the 100-day moving average (red line) next. That is should the data today and tomorrow conform to the technical momentum. This article was written by Justin Low at www.forexlive.com.

A more mixed market mood greets European traders to start the session

Apr 25, 2024 | 00:33 am

USD/JPY is still doing its thing as buyers are gradually pushing the limit above 155.00 ahead of the BOJ tomorrow. The pair is up 0.2% to 155.63 currently, with the line in the sand starting to shift. Elsewhere, the dollar is slightly lower but nothing too outstanding so far today. GBP/USD is up 0.3% to test familiar resistance at 1.2500 though, so that is one notable technical development at least:The pair is seeing price action keep above both the 100 (red line) and 200-hour (blue line) moving averages, reaffirming a more bullish near-term bias at least. But buyers are not exactly running away with it, with the dollar still up on the month after the early gains in the weeks before.It is a similar case across most dollar pairs, even with EUR/USD which is up 0.2% to 1.0715 currently. USD/CAD is down marginally by 0.1% to 1.3688 while AUD/USD is up 0.2% to 0.6513 with the 200-day moving average at 0.6526 still limiting gains as seen here yesterday.The dollar's marginally softer showing comes despite equities being on the retreat, with tech shares lagging in particular. Meta's earnings disappointment is renewing concerns on big tech and that is weighing on the mood. S&P 500 futures are down 0.7% while Nasdaq futures are down 1.3% currently.In the bond market, 10-year Treasury yields are down just 0.8 bps to 4.646% - not much changed on the week.All eyes will be on US data over the next two days. So, that will likely help set the tone for the remainder of the week alongside the BOJ tomorrow. This article was written by Justin Low at www.forexlive.com.

European equities more mixed at the open today

Apr 25, 2024 | 00:08 am

Eurostoxx -0.1%Germany DAX -0.2%France CAC 40 flatUK FTSE +0.5%Spain IBEX +0.3%Italy FTSE MIB flatIt's a mixed bag but I would say that sentiment is a touch nervy at the balance. Spanish stocks are keeping steadier even as PM Sanchez suspends public duties though. But the fall in tech shares is the most notable thing here and that's affecting US futures more. S&P 500 futures are down 0.6% while Nasdaq futures are down 1.2% on the day. This article was written by Justin Low at www.forexlive.com.

Aussie dollar trades below US$0.65

Apr 23, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is stronger this morning when valued against the Greenback currently trading at US$0.6480 at the time of writing. The Aussie dollar continues its upward trajectory for the second consecutive session on Tuesday, buoyed by improved risk appetite. On the data front yesterday Australia's Judo Bank Purchasing Managers Index (PMI) Composite rose to a 24-month high of 53.6 in April compared to the previous month's 53.3. The Australian private sector ticked up into an accelerated pace of growth in the second quarter bolstered primarily by Services sector growth. Australia's Manufacturing PMI Output rose to an eight-month high of 49.1 compared to March's 45.7, brushing off a 2-month low of 54.2 in the Services Business Activity compared to March's 54.4. Looking ahead today the Australian Bureau of Statistics will release the latest Consumer Price Index (CPI) which is expected to increase from 0.6% to 0.8% for the last quarter. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Finally, on Friday we will see the release of the Producer Price Index (PPI). There will be no commentary tomorrow due to the Anzac Day public holiday. Key Movers The pound bounced back from US$1.2300 in Tuesday’s early session as the S&P Global/CIPS posted stronger-than-expected United Kingdom preliminary Services PMI data for April. Surprisingly, the Services PMI jumped to 54.9 from the prior reading of 53.1. Investors forecasted the Services PMI to drop slightly to 53.0. The preliminary Manufacturing PMI, surprisingly contracted, remains below the 50.0 threshold that separates expansion from contraction after expanding in March. The factory PMI falls sharply to 48.3 from expectations and the prior reading of 50.3. Looking ahead to the rest of this week investors will shift focus to the core Personal Consumption Expenditure Price Index (PCE) data for March, which will be published on Friday. The monthly core PCE Price Index is estimated to grow steadily by 0.3%. Annually, the underlying inflation data is expected to soften to 2.6% from 2.8% in February. The US Dollar Index (DXY) is trading softly at 105.70 tallying daily losses on Tuesday's session. Investors will be keeping an eye on vital economic reports due this week, including the preliminary figures of Q1’s Gross Domestic Product (GDP) Growth Rate and the Personal Consumption Expenditures (PCE) Price Index from March to gain further insight into the economy's health. During Tuesday’s session, S&P PMIs came in lower than expected and made the USD face selling pressure. US Treasury bond yields are dwindling with the 2-year yield at 4.93%, the 5-year yield at 4.61%, and the 10-year yield at 4.58%. Expected RangesAUD/USD: 0.6400 - 0.6600 ▲AUD/EUR: 0.5950 - 0.6150 ▲GBP/AUD: 1.9050 - 1.9250 ▼AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8750 - 0.8950 ▼

Aussie dollar trades back above US$0.64

Apr 22, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is stronger this morning when valued against the Greenback, currently trading at 0.6446 at time of writing. The Aussie dollar yesterday fared better than most of its rival counterparts against the Greenback partly because commodities, which Australia is a major exporter of, are holding their value better than expected. The supportive effect may not last, however, since Iron Ore, which is Australia’s largest export, could be peaking and about to roll over. The Australian dollar may encounter challenges ahead, particularly as domestic inflation continues to moderate, aligning with the Reserve Bank of Australia's (RBA) latest forecasts. Furthermore, the persistently tight labour market could lead to calls for an RBA rate reduction before the year's end. On the data front, today we will see the release of the Purchasing Managers' Index (PMI). On Wednesday, the Australian Bureau of Statistics will release the latest Consumer Price Index (CPI), which is expected to increase from 0.6% to 0.8% for the last quarter. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Finally on Friday we will see the release of the Producer Price Index (PPI). Key Movers US equities on Monday opened higher in the early going, but there have been frequent bouts of strength in the latest six-day losing streak that have ultimately been overwhelmed by sellers. In early trading, the index is up 20 points, or 0.45%, which is a tad softer than futures indicated. 10-year US Treasury yields jump to 4.64% as Federal Reserve (Fed) policymakers argue that the current restrictive monetary policy framework is appropriate given strong labor demand and stubbornly higher price pressures. On the data front, the Chicago Fed National Activity Index (CFNAI) rose to +0.15 in March from +0.09 in February. Two of the four broad categories of indicators used to construct the index increased from February and two categories made positive contributions in March. The Chicago Fed's National Activity Index is a monthly indicator designed to gauge overall economic activity and related inflationary pressure. The personal consumption and housing category's contribution to CFNAI was -0.01 in March, down from +0.02 in February, the Chicago Fed said on Monday. Looking ahead for the rest of the week and Federal Reserve officials will begin its blackout period ahead of the May 1 meeting. However, April PMIs and housing data will be released by S&P Global. Expected RangesAUD/USD: 0.6350 - 0.6550 ▲AUD/EUR: 0.5950 - 0.6150 ▲GBP/AUD: 1.9050 - 1.9250 ▼AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8750 - 0.8950 ▼

Aussie dollar trades below US$0.64

Apr 21, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is weaker this morning when valued against the Greenback currently trading at 0.6411 at the time of writing. The Aussie dollar fell on Friday below 0.6400 as riskier assets faced pressure due to heightened geopolitical risk across financial markets. Last week on the local front Australia's unemployment rate rose slightly to 3.8 per cent after 6600 jobs were lost in March, a stronger-than-expected result that will likely end any chance of a mid-year interest rate cut. The jobless rate, revealed today by the Australian Bureau of Statistics, is only a marginal increase on last month's surprisingly low figure of 3.7 per cent and slightly better than market forecasts of a larger rise to 3.9 per cent. A tight labour market means the Reserve Bank is unlikely to pull the trigger on an interest rate cut until towards the end of the year. Looking ahead to this week and today we will see the release of the Flash Manufacturing PMI. A survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. On Wednesday the Australian Bureau of Statistics will release the latest Consumer Price Index (CPI) which is expected to increase from 0.6% to 0.8% for the last quarter. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Finally, on Friday we will see the release of the Producer Price Index (PPI). Key Movers The US dollar Index (DXY) is currently trading at 106.09, a mild loss from its recent peak of 106.35. Despite this, the index remains geared toward testing its November 1 high of 107.10. The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labor market strength that is driving the economy. Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 212,000 for the week ended April 13, the Labor Department said on Thursday. Labor market resilience, together with elevated inflation have led financial markets and some economists to expect that the Federal Reserve could delay cutting interest rates until September. A few economists doubt that the U.S. central bank will lower borrowing costs this year. The Pound Sterling tumbled against the US dollar during the mid-North American session on Friday after a volatile trading day due to geopolitical risks. The GBP/USD currently trades at 1.2367, down 0.49%. British Retail Sales showed signs of stagnation during the European session in March compared to February’s reading. Analysts were expecting sales to grow 0.3% MoM, which came at 0%, while core sales tumbled from 0.3% to -0.3%. On an annual basis, the Office for National Statistics (ONS) revealed that sales rose by 0.8%, which is up from a drop of -0.3% in February. Expected RangesAUD/USD: 0.6300 - 0.6500 ▼AUD/EUR: 0.5900 - 0.6100 ▼GBP/AUD: 1.9150 - 1.9350 ▲AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8700 - 0.8900 ▼

Aussie slides on prospect of US rate hike

Apr 18, 2024 | 17:00 pm

AUD - Australian dollar The AUD is lower this morning having given up a quarter percent amid higher US treasury yields and a hawkish Federal Reserve. Domestic employment data did little to move the AUD with unemployment rate edging higher, up to 3.8%, yet holding onto most of the decline seen in February when the rate fell from 4.1% to 3.7%. If we exclude January as a seasonal outlier the unemployment rate has tracked below 4% through the last two years, suggesting there is resilience within the labour force despite signs employment growth is stalling. This latest print does little to alter market expectations for RBA monetary policy and we are still looking toward a possible cut in Q4. Having tracked between US$0.6440 and US$0.6450, the AUD then fell through overnight trade amid the prospect of a potential US rate hike. Fed policy makers made clear that if inflation remained sticky and the data indicated a rate hike was needed to bring inflation back to target then that is what they would do. Having slipped below US$0.6420 the AUD tracked sideways into this morning’s open and currently trades at US$0.6419. With no domestic data on hand to drive direction we look to Japan CPI and UK retails sales as the only items of note on the macroeconomic calendar. US yields will continue to determine direction and we anticipate the AUD will remain on the back foot next week. Key Movers The US dollar is stronger this morning having reversed losses suffered through trade on Wednesday amid hawkish Fed commentary and a general risk-off tone. Yields pushed higher after NY Fed President and FOMC member Williams suggested another rate hike was not out of the question, stating “monetary policy is in a good place, I am in no hurry to cut interest rates and if the data are telling us that we need higher interest rates to bring inflation back to target then we obviously want to do that”. With USD again on the front foot, the euro slid back below 1.0650, while sterling gave up 1.2450 and the yen again gave up 154.50 and appears poised to break through 155. US treasury Secretary Yellen and the Finance Ministers of Japan and Korea met to discuss the recent and sharp depreciation of the yen and the won, offering a joint statement acknowledging the US would not stand in the way of any official currency intervention. Upon release of the statement the yen tracked higher, but Treasury yields carried the day and the USD recovered losses and is back near 154.70 on open this morning. Our attentions turn now to Japanese CPI data and UK retail sales data as the only tier one data headlining an otherwise quiet macroeconomic calendar. Expected RangesAUD/USD: 0.6380 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9500 ▲AUD/NZD: 1.0820 - 1.0920 ▼AUD/CAD: 0.8800 - 0.8900 ▼

Forex Today: Stocks Tumble – Sell in May and Go Away?

Apr 18, 2024 | 00:27 am

Stocks Make Deepest Pullback in Months; Precious Metals Remain Strong; Dollar Weakens After G7 Statement; Several Trends May Be Reversing

AUD finds support as market ignores risk off tone

Apr 17, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar outperformed through trade on Wednesday, pushing back against recent losses to break above US$0.6450. Commodity currencies were well supported as currency markets ignored a broader risk-off mood and instead forced the USD lower amid a steady fall in treasury yields across the curve. With the USD on the back foot, the AUD found support in higher iron ore prices and stability across the Chinese yuan daily fixing. PBOC officials set a rate largely unchanged from the week's earlier downward revision helping stabilise the yuan and limiting the negative spillover into the AUD as a proxy. Reports of increased activity across China’s steel mills help drive a 5.5% increase in iron ore prices and a break back above $115, adding a floor under the AUD at US$0.64 for the day. Our attention now turns to domestic labour market data for March. Stability across the employment landscape will give the RBA confidence in maintaining the current policy setting and may lend support to the AUD ahead of US jobless claims and commentary from 3 key Fed officials. Key Movers The euro was the day's notable outperformer Wednesday up half a percent and back through 1.0650, marking session highs at 1.0670. European Central Bank President Christine Lagarde paved the way for the Euro advance, suggesting there were clear signs of a euro area recovery and that the Bank was closely monitoring the exchange rate and its potential impact on the euro and inflation. While euro bonds fell, US treasuries also retreated and markets appeared content in ignoring a broader risk-off tone, forcing the USD lower against most major counterparts. UK yields rallied after a stronger-than-expected UK CPI inflation print, driven by a surprise uptick in services inflation. While Governor Bailey suggested he expected a significant correction in next month’s numbers, market pricing for BoE policy change barely shifted with a first full cut not priced in until September, leaving August an outside chance should policymakers choose to move early. Sterling edged higher against the USD, pushing back above 1.2450, yet falling short of a break above 1.25. Our focus now turns to US jobless claims and commentary from key ECB and Fed officials. Expected RangesAUD/USD: 0.6380 - 0.6500 ▲AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▼AUD/NZD: 1.0800 - 1.0900 ▲AUD/CAD: 0.8800 - 0.8900 ▲

Bitcoin Halving: Will it Trigger a Market Frenzy?

Apr 17, 2024 | 04:41 am

Bitcoin is all over the news, as “Bitcoin halving” is expected to occur on Friday, April 19. What is Bitcoin halving and how will it affect the price of Bitcoin?

Forex Today: US Yields Rise on Powell Cut Delay Signal

Apr 17, 2024 | 02:00 am

Fed Chair Powell Says Inflation Falling Too Slowly; Israel Hints at Soft Retaliation, Crude Oil Weaker; USD/JPY Reaches New 34-Year High at ¥154.79; UK CPI Higher Than Expected; Bitcoin Close to Halving

Forex Today: Stock Markets See Strong Selling

Apr 15, 2024 | 23:10 pm

Global Stock Markets Firmly Lower; Israel Signals Retaliation Likely Soon; USD/JPY Reaches New 34-Year High at ¥154.44; Energies, Precious Metals Firm; Markets Await Canadian CPI Data

Forex Today: Risk Sentiment Improves as Mideast Tension Lowers

Apr 15, 2024 | 00:51 am

Immediate Retaliation Against Iran Unlikely; USD/JPY Breaks Out to New 34-Year High Near ¥154; Market Await US Retail Sales Data

Forex Today: US Monthly CPI Unchanged, Triggers Hawkish Shift on Rate Cuts

Apr 10, 2024 | 23:28 pm

US CPI data released yesterday showed the annualized rate rising higher than expected to 3.5%.

US Inflation Higher Than Expected, Accelerates to 3.5%

Apr 10, 2024 | 09:37 am

US inflation for March rose 3.5% year-on-year. This was higher than expected and the US dollar is higher following the inflation release.

Forex Today: US CPI Expected to Show Slower Monthly Increase

Apr 9, 2024 | 23:43 pm

US CPI data will be released today, with the market expecting a slower pace of monthly increase.

Forex Today: Gold Makes New Record at $2,354

Apr 7, 2024 | 23:24 pm

Metals Rise Strongly to New Highs; USD/JPY Likely to Retest 34-Year High at ¥152; Crude Oil, Gasoline Futures Pull Back From Highs

Forex Today: Gold Beats $2,300

Apr 4, 2024 | 00:08 am

Spot Gold has continued to rise to new all-time high prices.

Forex Today: Gold Makes New Record at $2,288

Apr 2, 2024 | 22:27 pm

Precious Metals Rise Firmly to New Highs; Fed’s Daly Expects 3 Rate Cuts in 2024; USD/JPY Remains Close to 34-Year High Near ¥152; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

German Inflation Eases to 3-Year Low

Apr 2, 2024 | 07:54 am

Germany’s CPI climbed 2.2% year-on-year in March, down from 2.7% in February and matching expectations. This is the lowest inflation rate since May 2021.

Forex Today: Yen Nears Record Low, Markets Await Possible BoJ Intervention

Apr 1, 2024 | 23:20 pm

USD/JPY Advances Close to 34-Year High Near ¥152; US Dollar Stronger on Firm US Manufacturing Data; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

Forex Today: Gold Hits $2265 Per Ounce

Mar 31, 2024 | 23:13 pm

Gold Reaches Record High in Asian Session; USD/JPY Remains Below Record High Near ¥152; Strong Chinese Manufacturing Data; Eyes on Cocoa Futures After Spectacular Gains

United States GDP Expanded in Fourth Quarter by 3.4%

Mar 28, 2024 | 07:44 am

US GDP rises 3.4%, Canada GDP rebounds; US dollar steady, while stock markets show little movement following the announcement.

Forex Today: Fed’s Waller: No Rush to Cut Rates, Prospect of Hikes Remote

Mar 28, 2024 | 01:25 am

US Fed’s Waller Reiterates Ongoing Fed Message of Slow Path to Rate Cuts; USD/JPY Remains Below Record High Near ¥152; Cocoa Futures Make Another Record High Close; Gold Also Makes Record High Closing Price

Forex Today: Japanese Yen Hits 34-Year Low

Mar 27, 2024 | 00:13 am

USD/JPY Hits Record High Near ¥152, Japanese Officials Try to Talk Up Yen; Cocoa Futures Surpass $10,000 to Hit All-Time High; Aussie CPI Unchanged

Forex Today: Cocoa Futures Break $9,000 for Record High

Mar 26, 2024 | 00:38 am

Cocoa Futures Gain 8% in a Day; US Stocks, Gold Remain Bullish; Japanese Officials Try to Talk Up Yen; Bitcoin Rises Above $70k Despite Record Crypto Fund Outflows

United States Federal Reserve Holds Interest Rates, Remains Cautious

Mar 21, 2024 | 04:26 am

The Federal Reserve left interest rates unchanged for a fifth straight time at its meeting on March 20. The US dollar fell against the major currencies following the announcement.

Forex Today: Fed Says 3 Rate Cuts in 2024, Stocks, Gold Boom

Mar 21, 2024 | 00:07 am

Fed Gives Dovish Surprise by Forecasting 3 Cuts in 2024; Markets Await BoE, SNB; Gold, Stock Markets Reach Record Highs; Japanese Yen Regains Ground; Bitcoin Pares Losses; UK CPI Falls

Forex Today: Markets Await FOMC Meeting

Mar 20, 2024 | 00:06 am

FOMC Expected to Leave Rate at 5.50%; Japanese Yen Continues to Fall After BoJ; Bitcoin Weaker; Markets Await UK Inflation Data, New Zealand GDP

Forex Today: Bank of Japan Ends Negative Interest Rates

Mar 19, 2024 | 00:26 am

BoJ Makes First Rate Hike Since 2007, Japanese Stocks Rally, Yen Weakens; RBA Leaves Rates at 4.35%; Cocoa Futures Slightly Lower After Record High Yesterday; Bitcoin Weaker; Markets Await Canadian Inflation Data

Forex Today: Markets Expecting First BoJ Rate Hike in 17 Years

Mar 18, 2024 | 00:19 am

90% Expect BoJ to Ditch Negative Rates Policy Tuesday, Japanese Stocks Rallying; Bitcoin Rising After Another Record High Thursday; Cocoa Futures Roar Ahead With Dramatic Gains

Forex Today: Markets Await US PPI

Mar 14, 2024 | 00:24 am

US PPI Expected at 0.2%; Bitcoin Makes Another Record High Above $73,000; Cocoa Futures Roar Ahead.

Forex Today: US Inflation Ticks Higher to 3.2%

Mar 12, 2024 | 23:29 pm

US CPI Rises Unexpectedly; S&P 500 Makes Record High Close; Bitcoin Makes All-Time High Above $73,000

US Inflation Rises Unexpectedly to 3.2%

Mar 12, 2024 | 07:02 am

The US consumer price index (CPI) climbed 3.2% year-on-year in February, up from 3.1% in January and above the market estimate of 3.1%.

Forex Today: Markets Expecting Unchanged US Inflation Data

Mar 12, 2024 | 01:03 am

US CPI Seen at 3.1%; Bitcoin Hits New Record Below $73,000; Gold’s Bullish Momentum Starts to Pause

Forex Today: Gold, Bitcoin Looking Bullish Near Friday’s Record Highs

Mar 11, 2024 | 00:17 am

Gold, Bitcoin Advancing Again; Yen Higher on Japanese Rate Hike Bets and GDP Growth

ECB Maintains Interest Rates, Revises Lower Inflation Forecast

Mar 7, 2024 | 14:06 pm

The European Central Bank (ECB) maintained its deposit rate at a record high of 4.00% at today’s policy meeting. This decision was widely expected, and the Euro’s response has been muted.

Forex Today: Gold Makes New Record High Above $2161

Mar 6, 2024 | 23:41 pm

Gold Powers to New All-Time High; Powell Says Inflation Progress Not Assured; Japanese Rate Hike Seen Likely as Wages Rise; Bank of Canada Holds Rates; Markets Await ECB Meeting

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