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United Rentals, Inc. Q1 Profit Increases, beats estimates

Apr 24, 2024 | 19:19 pm

United Rentals, Inc. recently announced its first-quarter earnings, which not only showed an increase from last year's same period but also exceeded market expectations.The total earnings of the company were $542 million, equating to $8.04 per share, in contrast to last year's first-quarter earnings of $451 million, or $6.47 per share. When special items are excluded, United Rentals, Inc. reported an adjusted earning of $9.15 per share for the period.Based on the figures collated by Thomson Reuters, industry analysts had, on average, anticipated the company's earnings to be $8.32 per share. It's important to note that these estimates usually omit special items.Revenue for the quarter also displayed an upward trajectory, rising 6.9% to $2.93 billion from last year's $2.74 billion.Taking a quick glance at United Rentals, Inc's earnings: The earnings for Q1 were $542 million, up from last year's $451 million. The earnings per share (EPS) for Q1 amounted to $8.04, a leap from $6.47 in the previous year. The revenue for Q1 was $2.93 billion, showing growth from $2.74 billion last year.Interpreting the company's full-year revenue guidance, the figures stood at $14.950 billion to $15.450 billion.The material has been provided by InstaForex Company - www.instaforex.com

Lam Research Corporation Announces Climb In Q3 Profit

Apr 24, 2024 | 19:17 pm

In its most recent quarterly report, Lam Research Corporation released a statement indicating that its profits for the third quarter significantly surpassed those of the same period last year.The company's net income reached $965.83 million, translating to $7.34 per share. This is a substantial increase from last year's third quarter, which saw a total of $814.01 million or $6.01 per share.When excluding certain factors, Lam Research Corporation posted an adjusted earnings figure of $1.02 billion, or $7.79 per share for this period.On the downside, the company's quarterly revenue saw a slight dip of 2.1%, dropping to $3.79 billion from last year's figure of $3.87 billion.To provide some perspective, here's a quick look at the GAAP figures for Lam Research Corporation's recent earnings:- Earnings for Q3 stand at $965.83 million, up from $814.01 million during the same period last year.- Earnings Per Share (EPS) for Q3 come in at $7.34, compared to last year's $6.01.- Revenue for Q3 sits at $3.79 billion, down from $3.87 billion last year.As for future projections, the company provided some guidance. They expect the EPS for the next quarter to range between $6.75 and $8.25. They also forecast the next quarter's revenue to be within the bracket of $3.5 billion to $4.1 billion.The material has been provided by InstaForex Company - www.instaforex.com

IBM To Buy HashiCorp For $6.4 Bln

Apr 24, 2024 | 19:17 pm

IBM has committed to acquiring HashiCorp Inc., a company specializing in multi-cloud infrastructure automation, in a transaction that values the company at $6.4 billion.HashiCorp aids businesses by providing a suite of products to manage infrastructures and security life cycles in multi-cloud and hybrid environments. These tools are instrumental for companies seeking to streamline and automate their processes.Arvind Krishna, IBM's CEO, voiced that businesses are currently grappling with an exponential increase in infrastructure and applications spread across private and public clouds as well as on-site environments. The burgeoning interest in generative AI has further complicated the tech strategies of organizations, leading CIOs and developers to face unparalleled complexity.The terms stipulate that IBM will purchase HashiCorp at $35 per share in cash, which would aggregate to a net transaction value of $6.4 billion. IBM intends to fund the acquisition using its available cash reserves.Both IBM and HashiCorp's board of directors have consented to the transaction. Now, it only remains for HashiCorp shareholders to approve the acquisition. Standard protocol dictates various regulatory approvals and the fulfillment of standard closing conditions.The deal is projected to be finalized by the close of 2024.The material has been provided by InstaForex Company - www.instaforex.com

ServiceNow, Inc. Q1 Profit Increases, beats estimates

Apr 24, 2024 | 19:16 pm

ServiceNow, Inc. (NOW) has reported a significant increase in earnings for its first quarter, exceeding estimates from Wall Street. The earnings for the quarter came to $347 million, amounting to $1.67 per share, in contrast to $150 million, or $0.73 per share from the first quarter of the previous year.When considering external items, the firm reported adjusted earnings of $707 million equating to $3.41 per share for the duration of the quarter. In comparison, average analyst forecasts suggested the company would earn $3.14 per share, according to data compiled by Thomson Reuters. These analyst estimates usually do not encompass exceptional items.ServiceNow's quarterly revenue displayed a rise of 24.4%, reaching $2.60 billion up from $2.09 billion during last year's equivalent quarter.To provide a brief overview of ServiceNow's earings, based on GAAP:- First-quarter earnings were at $347 million, compared to $150 million last year.- Earnings per share in the first quarter were $1.67, compared to $0.73 last year.- First-quarter revenue was $2.60 billion, compared to $2.09 billion the previous year.The material has been provided by InstaForex Company - www.instaforex.com

South Korea's Manufacturing BSI Index Drops in May 2023

Apr 24, 2024 | 19:00 pm

South Korea's manufacturing Business Sentiment Index (BSI) took a dip in May 2023, according to recent data updates. The index decreased from 74 in April 2024 to 71 in May 2023. The BSI Index serves as a key measure of business sentiment and economic activity in the manufacturing sector.The decline in the BSI Index suggests a possible slowdown in South Korea's manufacturing industry during that period. It is essential to monitor how this drop could impact the overall economy and what measures businesses and policymakers might take to address any challenges faced by the manufacturing sector.Investors and analysts will be keeping a close eye on future BSI Index updates to gauge the trajectory of South Korea's manufacturing sector and its broader economic health.The material has been provided by InstaForex Company - www.instaforex.com

Treasuries Move Back To The Downside Amid Lingering Rate Worries

Apr 24, 2024 | 18:22 pm

On Wednesday, the value of Treasuries declined, reversing the upward trend observed in the previous session. Bond prices faced a downturn early in the day and stayed significantly negative throughout. Consequently, the yield on the ten-year benchmark note, conversely related to its price, rose by 5.4 basis points to 4.652 percent.This decline in treasuries was rooted in continued apprehension about interest rate forecasts preceding the Federal Reserve meeting scheduled for next week. Although it is anticipated that the Fed will maintain the current interest rates, traders will be on the lookout for any hint of potential rate cuts in the future.Late this week, the Commerce Department is set to publish a report on personal income and expenditure that includes inflation measurements favored by the Fed.On the domestic economic front, a report by the Commerce Department revealed that new orders for durable goods manufactured in the U.S. grew more than projected in March. According to the report, orders for durable goods skyrocketed by 2.6 percent in March, following a downwardly revised growth of 0.7 percent in February.Economists had projected a sharp increase of 2.3 percent in durable goods orders, as opposed to the 1.3 percent rise reported for the month before. Ignoring the sudden upsurge in orders for transportation equipment, durable goods orders just about rose by 0.2 percent in March, following a 0.1 percent increase in February. Orders excluding transportation were predicted to increase by 0.3 percent.Looking forward, the market reaction to reports on the first quarter GDP, weekly jobless claims, and pending home sales may influence trading on Thursday.The material has been provided by InstaForex Company - www.instaforex.com

Immutep Reports Positive Preliminary Topline Results From TACTI-003 Cohort B

Apr 24, 2024 | 18:20 pm

Immutep Limited, a biotech company focusing on the creation of innovative LAG-3 immunotherapies for cancer and autoimmune diseases, has recently announced preliminary topline results. These results originate from the TACTI-003 Phase IIb clinical trial, which tests the effectiveness of eftilagimod alpha (or efti). Efti is used in combination with KEYTRUDA, also known as pembrolizumab, an anti-PD-1 therapy developed by MSD. The combination is considered as a potential initial treatment for patients experiencing recurrent metastatic head and neck squamous cell carcinoma, especially those who show negative PD-L1 expression.In immuno-oncology, the therapy combination created by Immutep and MSD has been found to have an overall response rate of 26.9% and a disease control rate (DCR) of 57.7%. This range is based on a study of 26 patients whose tumors do not exhibit PD-L1 (with a Combined Positive Score of less than 1). According to RECIST 1.1 metrics, these rates are deemed favorable when compared with historical controls.Speaking on the results, Dr. Martin Forster, of UCL Cancer Institute, University College London Hospital NHS Foundation and a TACTI-003 Investigator, said, "The preliminary topline results are encouraging, particularly for patients with head and neck squamous cell cancers who do not show PD-L1 expression. This type of cancer is incredibly varied, and there is a significant medical need to find solutions for all kinds of patients, irrespective of PD-L1 expression. It is especially crucial for those whose tumors do not express PD-L1 and are unable to receive chemotherapy. The potential for efti to work cohesively with MSD's KEYTRUDA to augment clinical responses and broaden the responsive patient base—without employing chemotherapy—is promising."The material has been provided by InstaForex Company - www.instaforex.com

Canadian Market Retreats After Recent Gains, Looks Headed For Weak Close

Apr 24, 2024 | 17:27 pm

The Canadian stock market is suffering a downturn Wednesday afternoon, with the most significant losses seen in the industrial and communication sectors. Both the financial and technology sectors are also observed to be weak.After a positive streak stretching five consecutive days, investors are now leveraging their earnings. This profit-taking is anticipated ahead of the key U.S. personal income and spending data scheduled for release later this week.At one point, the benchmark S&P/TSX Composite Index dipped by 155.88 points or 0.7%, bringing it to 21,855.84.Canadian National Railway (CNR.TO) experienced a close-to-4% drop after announcing a net income of $1,103 million for the first quarter, showing a decrease from 1,220 million the previous year.On the other hand, First Quantum Minerals (FM.TO) saw approximately a 2.3% gain after reporting a reduced net loss for its first quarter. The loss of $159 million for the first quarter of 2024 is notably less than the $259 million net loss recorded for the same period last year.The telecommunications giant Rogers Communications Inc (RCI.B.TO) reported a net income of $256 million for the first quarter, which is significantly lower in comparison to $511 million a year earlier. Their adjusted net income was $540 million this quarter, a slight decrease from $553 million the same time the previous year. This news resulted in over a 3% decrease in the company’s shares.Retail company Metro Inc. (MRU.TO) revealed its net earnings for the second quarter amounted to $187.1 million, a decline of 14.5% from the same period in the previous year. Despite this, the company's stocks ascended by roughly 0.7%.On the economic side, preliminary data indicates that Canadian retail sales likely saw no change in March 2024 when compared to the previous month. In February, retail sales marginally decreased by 0.1% month-on-month, while there was a 1.2% year-on-year increase in retail activity, succeeding a 0.9% rise in the month prior.Finally, manufacturing sales in Canada were projected to have dropped by 2.8% in March 2024, counteracting the 0.7% growth seen in the preceding month, according to initial estimates.The material has been provided by InstaForex Company - www.instaforex.com

Retail Sales in Argentina Surged by 274.6% in February 2024

Apr 24, 2024 | 17:00 pm

In the latest economic update from Argentina, retail sales for the month of February 2024 showed a significant increase of 274.6% compared to the same month a year ago. This surge comes after a previous indicator in January 2024 had already shown a substantial growth of 248%. The data, which was updated on 24 April 2024, indicates a strong upward trend in consumer spending in the country.The Year-over-Year comparison reveals a remarkable improvement in retail sales, reflecting a positive outlook for the Argentine economy. The significant increase in consumer spending could indicate growing confidence among the population, potentially signaling increased economic stability and growth prospects. As the country continues to navigate through economic challenges, the surge in retail sales presents a promising development for its overall economic recovery.The material has been provided by InstaForex Company - www.instaforex.com

Amazon Fined â¬10.7 Mln By Italian Competition Watchdog For Unfair Trade Practices

Apr 24, 2024 | 16:21 pm

The Italian Competition Authority (AGCM) has levied penalties amounting to EUR 10.7 million against two subsidiaries of the Amazon Group, namely Amazon Services Europe and Amazon EU, charging them with alleged malpractices in commerce.This punitive measure emerged from an investigation into Amazon's 'Subscribe and Save' scheme, a method that facilitates customers in arranging repetitive dispatches of items that they frequently buy.As per the criticism lodged against it, Amazon seems to be auto-selecting the recurring purchase feature for an extensive array of goods present on its Italian platform.The 'Subscribe and Save' program initiated by Amazon proffers numerous advantages such as free delivery, concessional packing, and the comfort of arranged dispatches for eligible goods. Customers have the ease of subscribing to regularly obtain the products they frequently use, and they can avail discounts that range from 5% to 15%, based on the volume of subscriptions.The Italian regulatory entity argues that this action "substantially curbs consumer choice", because customers are more prone to opt for repetitive dispatches rather than one-time acquisitions."The mechanical preference of recurring acquisitions prompts individuals to periodically procure a commodity even if it's not strictly necessary, thereby infringing on their freedom of choice," the competition authority added.In its defense, Amazon Italy avowed that its 'Subscribe and Save' function is "intended to assist patrons in conserving both time and money on recurring dispatches."The firm highlighted that post its implementation in Italy, "Amazon consumers have collectively saved more than €40 million through 'Subscribe and Save' orders."The material has been provided by InstaForex Company - www.instaforex.com

Swiss Market Ends Moderately Lower

Apr 24, 2024 | 16:08 pm

The Swiss market concluded Wednesday's trading on a downtrend, as investors demonstrated caution by reducing their stakes ahead of key forthcoming U.S. economic data releases. The primary index, SMI, decreased by 98.41 points, a drop of 0.86%, to close the day at 11,370.74, which was the lowest of the day.Pharmaceutical company Roche Holding saw its shares fall by 4.4% after announcing a first-quarter sales decline of 6%. UBS Group's stocks also experienced a downward shift, decreasing by nearly 3%. Other companies experiencing losses ranged from 1.3 to 2%, and included Partners Group, Lindt Spruengli, Zurich Insurance Group, Julius Baer, and Alcon.Swiss insurance company Swiss Re, telecommunications company Swisscom, watchmaker Swatch Group, and packaging provider SIG Group all finished the day down by 0.9 to 1.1%. Stocks of Lonza Group, Swiss Life Holding, logistics provider Kuehne & Nagel, and equipment manufacturer VAT Group decreased between 0.5 and 0.7%.Companies that saw an increase in their shares include computer peripheral manufacturer Logitech International and specialty chemical company Sika, as well as flavor and fragrance producer Givaudan, inspection service company SGS, construction materials provider Holcim, and escalator and elevator producer Schindler Ps, with gains ranging from 0.4 to 0.9%. Pharmaceutical company Novartis, dental product manufacturer Straumann Holding, and automation technology provider ABB had slight increases.In economic updates, a joint report from UBS and the CFA Society reported that Swiss investors' sentiment index climbed by 6.1 points, reaching 17.6 in April 2024, the highest level since September 2021.The material has been provided by InstaForex Company - www.instaforex.com

Five-Year Note Auction Attracts Modestly Below Average Demand

Apr 24, 2024 | 16:08 pm

On Wednesday, the Treasury Department unveiled the results of its recent auction of five-year notes worth $70 billion, indicating a slightly below-par demand. The auction drew a high yield of 4.659 percent and a bid-to-cover ratio of 2.39.In comparison, last month's auction of five-year notes valued at $67 billion attracted a high yield of 4.235 percent and a slightly higher bid-to-cover ratio of 2.41. The bid-to-cover ratio is a parameter that gauges the demand, reflecting the volume of bids per dollar worth of securities being auctioned.The average bid-to-cover ratio from the last ten five-year note auctions was 2.46. Additionally, this month's auction of two-year notes worth $69 billion, revealed on Tuesday, garnered slightly less than typical demand.Lastly, the Treasury Department is slated to announce the results of its upcoming auction of seven-year notes totaling $44 billion this Thursday.The material has been provided by InstaForex Company - www.instaforex.com

Angola's FX Reserves Rise to 14.3 Billion in March 2024

Apr 24, 2024 | 16:00 pm

Angola's foreign exchange reserves saw a boost in March 2024, reaching 14.3 billion. This increase marks a slight uptick from the previous recorded indicator of 14.2 billion. The data was updated on April 24, 2024, indicating the latest development in the country's FX reserves. The rise in reserves could signal positive economic prospects for Angola, potentially enhancing its ability to manage external shocks and stabilize its currency. As the country continues to navigate economic challenges, monitoring its FX reserves provides crucial insights into its financial health and resilience in the face of global economic fluctuations.The material has been provided by InstaForex Company - www.instaforex.com

European Stocks Fail To Hold Gains, Close Weak

Apr 24, 2024 | 15:53 pm

European stocks couldn't maintain the early gains and closed weak on Wednesday. Investors remained cautious during the afternoon, eagerly waiting for important U.S. economic data that might offer a clearer picture regarding the future of interest rates.The market showed an early surge in response to a series of robust earnings updates. The business sentiment in Germany also showed an improvement in April, according to survey data from the ifo Institute. Economists had predicted that Germany's business confidence index would increase modestly to 88.9 from March's initial estimate of 87.8. However, it surpassed expectations and reached 89.4 in April.The most recent Industrial Trends Survey from the Confederation of British Industry showed that confidence among British manufacturers increased in April and their output expectations reached a six-month high. The business sentiment indicator increased to +9 percent in the April quarter, an improvement from -3 percent in January.Predictions about a June interest rate cut by the European Central Bank by Joachim Nagel, president of Germany's Bundesbank, at the DZ Bank Capital Markets Conference 2024 implied that a series of rate cuts might not necessarily follow, which caused slight concern.The pan-European Stoxx 600 ended down 0.43%. The U.K.'s FTSE 100, after reaching a new record high, closed down 0.06%. Germany's DAX and France's CAC 40 ended lower by 0.27% and 0.17% respectively. Switzerland's SMI dropped 0.86%.Among other European markets, Belgium, Denmark, Finland, Poland, Portugal, Russia, Spain, and Sweden ended weak, while Iceland, Norway, and Turkiye saw gains. Austria, Greece, and Netherlands remained stable.In the UK market, Anglo American Plc rose nearly 4.5%. Reckitt Benckiser's Q1 like-for-like net revenue growth of 1.5 percent boosted its gains to about 3%. Rio Tinto marked a 2.5% increase. Other gainers included BAE Systems, IHG, Glencore, Bunzl, and Mondi, which increased by 1 to 2%. Filtronic also leapt 47% after announcing a strategic partnership and commercial agreement with Space Exploration Technologies Corp.In contrast, Croda International dropped 4.8%. Other losers included Ocado Group, Entain, Persimmon, and JD Sports Fashion, which lost 3 to 3.5%.In the German market, Infineon saw more than 5% increase, while Siemens Healthineers, Rheinmetall, Brenntag, Beiersdorf, Continental, and Porsche posted moderate gains. Zalando, Deutsche Boerse, Fresenius Medical Care, Vonovia, Allianz, Deutsche Post, Bayer, Hannover Rueck, Volkswagen, Munich, Fresenius and Daimler Truck Holding lost 1.4 to 4%.In the French market, STMicroElectronics gained about 5%. Renault marked a more than 2% increase. Schneider Electric, Dassault Systemes, Legrand, Arcelor Mittal, Thales, and Stellantis marked gains of 0.5 to 1.6%.Eurofins Scientific dipped 7.7% while Kering fell nearly 7% on account of a profit warning and worries about decreasing demand for its Gucci brand. Orange, Air Liquide, Alstom, AXA, and Sanofi also closed notably lower.ASM International, a Dutch water processing equipment supplier, soared by 11% as the company raised its Q2 revenue forecast after exceeding analyst estimates for revenue and earnings in the first quarter.The material has been provided by InstaForex Company - www.instaforex.com

United States 5-Year Note Auction Yields 4.591%

Apr 24, 2024 | 15:00 pm

The United States recently conducted a 5-Year Note Auction, with the yield reaching 4.591%. This figure represents an increase from the previous auction where the yield stood at 4.235%. The data was last updated on April 24, 2024. The change in yield from the previous auction indicates the market's response to economic conditions, including factors such as inflation expectations, interest rates, and overall market sentiment. Investors closely monitor these auctions as they provide insights into the government's borrowing costs and overall market demand for US government debt securities. As the Federal Reserve continues to navigate monetary policy in response to economic data, market participants are keeping a close eye on these indicators for signals of potential shifts in the financial landscape.The material has been provided by InstaForex Company - www.instaforex.com

S&P 500 rate of earnings surprises the highest since Q3 2021

Apr 24, 2024 | 14:40 pm

A snippet from UBS analysts on US stocks, looking for the strongest quarterly earnings growth in over two year. UBS acknowledge that earnings season is still ongoing, but so far earnings are beating estimates by over 8% (8.3%) in aggregate. Q3 2021 was 9.7%, this quarter is the best since then. UBS project Q1 earnings will improve further as more come in:"on pace for 9.3%, assuming the historical beat rate of 4.8% for the rest of this season" This article was written by Eamonn Sheridan at www.forexlive.com.

U.S. Stocks Give Back Ground After Early Move To The Upside

Apr 24, 2024 | 14:11 pm

Stocks, which showed an upward trend towards the start of Wednesday's session, had a dramatic shift later in the day, falling from initial highs. As a result, both the Dow and the S & P 500 slipped into the red.While the Nasdaq is up by 24.59 points, rising by 0.2 percent to a total of 15,721.23 points, the Dow has declined by 119.17 points (or 0.3 percent) to 38,384.52. The S & P 500 fell by 8.59 points (or 0.2 percent) to 5,061.96.Strong corporate earnings initially spurred a rally on Wall Street, this following a noticeable slump last week. One notable winner was Tesla whose shares rose by 11.3 percent despite posting weaker than expected results for the first quarter. This surge is credited to CEO Elon Musk's announcement of Tesla's plan to commence production of a more affordable model by 2025.Likewise, Texas Instruments, after exceeding both top and bottom-line expectations for the first quarter, experienced a considerable boost in its stock. Visa, Boeing, and Mattel also enjoyed an uptick after posting quarterly returns that beat expectations.However, buying interest began to wane early in the trading day possibly due to traders' anticipation of large tech company earnings scheduled to release in the coming days. IBM Corp and Facebook parent Meta Platforms, are among those due to post their results following today's trading close. Also, Google parent Alphabet, Intel, and Microsoft are set to report their results after Thursday's trading close.On another note, the Commerce Department pointed to an unexpected surge in new orders for U.S.-made durable goods in March. This report stated a 2.6 percent rise in durable goods orders in March, following a 0.7 percent increase in February, revised downward from previously reported figures. Economists had forecasted a 2.3 percent increase, compared to the original report of a 1.3 percent increase in the preceding month. But when excluding transport equipment orders, the rise in durable goods orders was limited to 0.2 percent in March.On the sector front, transportation stocks were among the hardest hit, pulling the Dow Jones Transportation Average down by 2.5 percent. Housing stocks also experienced a noticeable dip, with the Philadelphia Housing Sector Index posting a 1.4 percent loss. Similarly, pharmaceutical and retail stocks trended downward. On the flip side, semiconductor stocks, on the back of positive results from Texas Instruments, are performing solidly, driving the Philadelphia Semiconductor Index up by 1.6 percent.On the global market, Asia-Pacific region stock markets showed mostly positive movement. Japan’s Nikkei 225 index surged by 2.4 percent and China's Shanghai Composite index grew by 0.8 percent. However, European markets weathered slight losses. The UK's FTSE 100 index declined by 0.1 percent while the French CAC 40 index and the German DAX index fell by 0.2 and 0.3 percent, respectively.Lastly, US bonds were under pressure after their previous gains, causing a 6.2 basis points increase in the yield on the benchmark ten-year note, which inversely correlates with its price, booking it at 4.660 percent.The material has been provided by InstaForex Company - www.instaforex.com

Russian Industrial Production Slows Down to 4% in March 2024

Apr 24, 2024 | 14:00 pm

According to the latest data released on April 24, 2024, Russia's industrial production growth has slowed down significantly in March 2024. The current indicator for industrial production in Russia reached 4%, a notable decrease from the previous month's figure of 8.5% in February 2024.This data, which compares the change in industrial production year-over-year, indicates a considerable deceleration in the country's industrial sector. The decline in industrial production growth could have various implications for Russia's economy, including potential impacts on employment rates, consumer spending, and overall economic output.As industrial production serves as a key indicator of a country's economic health, policymakers and market analysts will likely closely monitor the performance of Russia's industrial sector in the coming months to assess the broader implications for the country's economic trajectory.The material has been provided by InstaForex Company - www.instaforex.com

U.S. Crude Oil Inventories Unexpectedly Pull Back Sharply

Apr 24, 2024 | 13:52 pm

The Energy Information Administration (EIA) reported a significant and unexpected decrease in U.S. crude oil inventories for the week ending on April 19th.The EIA report revealed a drop of 6.4 million barrels in the past week, following a rise of 2.7 million barrels in the prior week. This contradicts economists' predictions, which anticipated an increase of 1.6 million barrels in crude oil inventories.As per the latest data, U.S. crude oil inventories stand at 453.6 million barrels, approximately 3 percent less than the five-year average for this period.The EIA's report further indicated that gasoline inventories slightly decreased by 0.6 million barrels over the last week. Currently, they are around 4 percent lower than the five-year average.Conversely, distillate fuel inventories, encompassing heating oil and diesel, rose by 1.6 million barrels in the last week. However, they are still roughly 7 percent below the five-year average for the same period.The material has been provided by InstaForex Company - www.instaforex.com

Capricor Announces Positive Type-B Interaction With FDA For CAP-1002 In Treating DMD

Apr 24, 2024 | 13:42 pm

Capricor Therapeutics Inc., a biotechnology firm, has announced a positive outcome from a Type-B Chemistry, Manufacturing and Controls meeting with the FDA. The meeting addressed next steps for the Biologics License Application for their product, CAP-1002, designed for the treatment of Duchenne muscular dystrophy (DMD).At present, Capricor's shares stand at $5.22, marking an increase of 8.30% from the previous close of 4.82, with a volume of 551,936.In the course of discussions with the FDA, Capricor was advised to prepare for a pre-Biologics License Application (BLA) meeting and establish a rolling BLA schedule, to be tabled during a subsequent Type-B meeting. In addition to this, the biotech firm has stated its intent to share 3-year safety and efficacy data from its HOPE-2 open-label extension with FDA.Capricor also shared that data from Cohort B of the HOPE-3 clinical trial will not be necessary for FDA approval of CAP-1002. The firm's product for DMD treatment, CAP-1002, has already received Orphan Drug Designation and its regulatory pathway is supported by the Regenerative Medicine Advanced Therapy Designation.The material has been provided by InstaForex Company - www.instaforex.com

W.W. Grainger Board Approves Buyback Up To 5 Mln Shares; Boost Dividend By 10% To $2.05/shr

Apr 24, 2024 | 13:39 pm

On Wednesday, the board of W.W. Grainger, Inc. approved the repurchase of up to 5 million shares of their common stocks in circulation. This new authorization replaces the former one and comes with no expiration date.Additionally, the board has announced a quarterly cash dividend of $2.05 per share, which represents a 10% increase from the previous dividend. This payment will be made on June 1, 2024, to shareholders recorded as of May 13, 2024.The material has been provided by InstaForex Company - www.instaforex.com

A summary of the major earnings after the close. Chipotle, Ford higher. Meta gets hammered

Apr 24, 2024 | 13:30 pm

ServiceNow Inc: Shares down -4.85%Adj. EPS: $3.41, beating expectations of $3.14Revenue: $2.60 billion, beating expectations of $2.59 billionChipotle Mexican Grill Inc: Shares are higher by +3.36%Adj. EPS: $13.37, beating expectations of $11.68Revenue: $2.70 billion, beating expectations of $2.67 billionInternational Business Machines Corp. Shares of their -6.03%.Adj. EPS: $1.68, beating expectations of $1.60Revenue: $14.46 billion, missed expectations of $14.55 billionLam Research Corp: Shares are down -0.55%Adj. EPS: $7.79, beating expectations of $7.30Revenue: $3.79 billion, beating expectations of $3.72 billionMeta Platforms Inc. Shares are tumbling -12.09%.EPS: $4.71, beating expectations of $4.32Revenue: $36.46 billion, beating expectations of $36.16 billionQ2 2024 Revenue View: $36.5-39 billion, The midpoint is lower than the markets estimateFY24 Capex View: $35-40 billion, higher than expectations of $34.73 billionFord Motor Co: Shares are up 2.08%Adj. EPS: $0.49, beating expectations of $0.42Revenue: $42.80 billion, beating expectations of $40.10 billion This article was written by Greg Michalowski at www.forexlive.com.

Latest China crackdown ICYMI - brokers told to limit exposure to "snowball" derivatives

Apr 24, 2024 | 13:23 pm

China is taking steps to regulate the derivatives market, targeting "snowball" derivatives.Authorities have instructed some of the largest brokerages to halt any increase in their net exposure to over-the-counter derivatives involving domestic A shares, including snowball products.Snowballs have seen a surge in interest.While the restrictions are said to be temporary no indication was given for an end date on curbs. Snowball derivatives, which function similarly to exotic options, offer bond-like coupons (but much higher) if the stock index remains within a certain range, with potential returns increasing the longer the investment is held. This article was written by Eamonn Sheridan at www.forexlive.com.

ServiceNow EPS $3.41 vs. $3.14 est. Revenues $2.60 billion vs.$2.59 billion est

Apr 24, 2024 | 13:20 pm

ServiceNow earnings are out:EPS $3.41 versus $3.14 estimate. BEAT..Revenues $2.60B vs $2.59 billion estimate. BEATShares of ServiceNow are trading down $36.13 or -4.84% at $710.16 This article was written by Greg Michalowski at www.forexlive.com.

Chipotle EPS $13.37 vs $11.66 est. Revenues $2.70 billion vs $2.67B est.

Apr 24, 2024 | 13:16 pm

Chipotle expectations:Revenue: $2.7 billion versus expectations of $2.67 billionEPS: $13.37 versus expectations of $11.66Shares of AAA are training up $123 or 4.21% at $3050.09 This article was written by Greg Michalowski at www.forexlive.com.

IBM EPS $1.68 vs $1.59. Revenues $14.46 billion vs $14.52B est.

Apr 24, 2024 | 13:16 pm

EPS: $1.68 vs $1.59 estimateRevenues: $14.46 billion vs $14.52 billion estimateIBM confirmed that they entered an agreement to acquire HashiCOrp for $35 per share or $6.4 billionShares of IBM are trading down $7.10 or -3.86% as markets react to the acquisition. This article was written by Greg Michalowski at www.forexlive.com.

Gain Therapeutics Announces Positive Phase 1 Results For GT-02287 In GBA1 Parkinson's Disease Trial

Apr 24, 2024 | 13:15 pm

On Wednesday, biomedical company Gain Therapeutics, Inc. announced encouraging results from the first phase of their medical trial testing GT-02287, an innovative, therapy drug targeting the GBA1 gene in Parkinson's Disease.The single ascending dose study demonstrated that the drug, when given orally once a day to healthy individuals, was mostly tolerated across all dosages with no severe side effects recorded.Gain Therapeutics, Inc. proposes that GT-02287 could potentially help put a stop to the progression of Parkinson's Disease by addressing the underlying cause. They're looking forward to starting the first patient group in the Phase 1 clinical trial towards the end of 2024.The material has been provided by InstaForex Company - www.instaforex.com

Meta Platforms EPS $4.71 vs $4.32 est. Revenues $36.46B vs $36.1B est.

Apr 24, 2024 | 13:06 pm

Meta Platforms expectations:EPS: $4.71 vs $4.32 estimate. A year ago, EPS was at $2.20. Revenue: $36.46 billion vs $36.1 billion.estimate A year ago revenues were at $28.64 billion.Q2 $36.50 to $39B. Estimate $38.29 billionTotal expense range to $96 to $99 billion versus 94 billion estimateExpects capital expenditures will be in the range of $35-$40 billion. The market was expecting $34.7 billion. Capital expenditures are expected to increase next year as wellAdvertising revenue 35.635 main dollars versus $28.101 million last yearThe price of Meta was at $209.47 before the April 2023 earnings. The current after hours price is trading down $-52 or -10.62% at $441.62 as markets react to the higher expenses and Q2 average estimate for revenues below the markets average. This article was written by Greg Michalowski at www.forexlive.com.

Forexlive Americas FX news wrap: USD/JPY cracks 155

Apr 24, 2024 | 13:06 pm

Canada February retail sales -0.1% vs +0.1% expectedAtlanta Fed Q1 GDPNow 2.7% vs 2.9% priorBOC Minutes: Agreed taht any monetary policy easing would probably be gradualSpanish Prime Minister Pedro Sanchez says he's suspending public dutiesUS sells $70 billion of five-year notes at a high yield of 4.659%EIA weekly US oil inventories -6368K vs +825K expectedDavid EInhorn (Greenlight Capital) says investors don't care about value investingMarkets:WTI crude oil down 40-cents to $82.92US 10-year yields up 4.8 bps to 4.66%GOld flat at $2321S&P 500 flatAUD leads, JPY lagsAnother big round number has given way in USD/JPY and marked a fresh high dating back to 1990. The market was flirting with 155 in Asia and early European trading and then finally broke through at the start of US trading. It was helped by earlier comments from an LDP official that they weren't currently contemplating intervention. The initial probe above 155.00 was shortlived but the retracement held at 154.75 and there was no sign of a real fight. So a second push came later, taking it as high as 155.37.The Canadian dollar was also lively following a weaker February and March advance retail sales report. The numbers suggest a weakening consumer and that helped boost the pair by 40 pips to 1.3725.However there was a late-day slide in the US dollar that helped to lift the pound to a session high and the euro back to unchanged. That came despite a broader rise in sovereign yields. That was something of a curious move that appeared to originate in Europe and included a 13 bps rise in Italian 10s. Those moves did fade some what later in the day, in part due to an ok US 5-year sale. Tomorrow we get 7s to round out the weekly slate.More importantly will be tomorrow's US GDP report and weekly initial jobless claims data. This article was written by Adam Button at www.forexlive.com.

S&P and NASDAQ close higher for the third consecutive day

Apr 24, 2024 | 13:02 pm

The broader S&P and NASDAQ index closed higher for the third consecutive day. The gains were modest ahead of key earnings starting with Meta Platforms after the close. Chipotle, ServiceNow, IBM, Lam research are all scheduled to release after the close today.For the rest of the week:Other key earnings this week:Thursday: American Airlines, Caterpillar, Southwest, Bristol-Myers Squibb. After close Microsoft, Alphabet, Intel, Western Digital, T-Mobile, Gilead.Friday: Exxon Mobil, Chevron, Colgate-Palmolive.The final numbers today show:Dow industrial average down -42.57 points or -0.11% at 38461.04S&P index rose 1.11 points or 0.02% at 5071.67NASDAQ index rose 16.11 points or 0.10% at 15712.75Russell 2000 index fell -7.21 points or -0.36% at 1995.42 This article was written by Greg Michalowski at www.forexlive.com.

Economic calendar in Asia Thursday, 25 April 2024 - a light one

Apr 24, 2024 | 13:00 pm

The calendar is light.A couple of things to note for the session ahead are:1. USD/JPY has popped above its latest 'line in the sand' (the sand blew away again) @155.00. Expect verbal intervention from Japanese officials again today. This will present dip buying opportunities, yet again. 2. It's a national holiday in Australia for ANZAC Day, markets are closed. ANZAC stands for Australian and New Zealand Army Corps. Anzac Day falls on the 25th of April each year. The 25th of April was officially named Anzac Day in 1916. On the 25th of April 1915, Australian and New Zealand soldiers formed part of the allied expedition that set out to capture the Gallipoli peninsula. These became known as Anzacs.The meaning of Anzac Day today includes the remembrance of all Australians killed in military operations. (more info here) This article was written by Eamonn Sheridan at www.forexlive.com.

Atlanta Fed's GDPNow Indicator for First Quarter of 2024 Shows Slight Dip to 2.7%

Apr 24, 2024 | 13:00 pm

The recent update from the Atlanta Federal Reserve's GDPNow forecasting model indicates a slight dip in the economic growth rate for the United States in the first quarter of 2024. The previous GDPNow indicator had reached 2.9%, but the latest data shows a revision down to 2.7%. This change was reported on the 24th of April, highlighting a small adjustment in the projected growth rate for the country's economy. While the decrease is marginal, it is essential to monitor these economic indicators as they provide insights into the overall health and performance of the economy. The Atlanta Fed's GDPNow serves as a valuable tool for analysts and policymakers to gauge the trajectory of economic growth and make informed decisions moving forward.The material has been provided by InstaForex Company - www.instaforex.com

Trade ideas thread - Thursday, 25 April, insightful charts, technical analysis, ideas

Apr 24, 2024 | 13:00 pm

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

U.S. Durable Goods Orders Surge 2.6% In March, More Than Expected

Apr 24, 2024 | 12:58 pm

The U.S. Commerce Department reported on Wednesday that in March, new orders for domestic manufactured durable goods surged significantly, largely due to a substantial increase in transportation equipment orders. This marked an increase more considerable than analysts had anticipated.According to the report, in March, durable goods orders jumped by 2.6%, following a revised growth of 0.7% from the previous month - February. Economists had predicted a spike of 2.3% in contrast to the reported increase of 1.3% in orders from the previous month.The unexpected surge in durable goods orders was primarily due to a 7.7% increase in transportation equipment orders. Non-defense aircraft and related parts orders recorded the most significant growth of an astounding 30.6%.Even with the exclusion of the transportation equipment sector, durable goods orders marked a slight growth of 0.2% in March, following a 0.1% growth in February. Analysts predicted a rise of 0.3% with transportation orders excluded.Other sectors saw a similar increase. Orders for computers and electronic products, for example, rose by 0.8%, and fabricated metal product orders saw an increase of 0.2%. Both electrical equipment – including appliances and components - and machinery orders also saw a modest rise of 0.1%. However, primary metals orders fell by 0.5%.The Commerce Department also reported that non-defense capital goods orders, excluding aircraft, a critical business spending indicator, rose by 0.2% in March, the last increase was 0.4% in February. Furthermore, shipments in the same category, which influence equipment investment data in GDP, saw a slight rise of 0.2% in March, following a drop of 0.6% in February.The material has been provided by InstaForex Company - www.instaforex.com

Capitol Federal Financial Reports Net Income In Q2

Apr 24, 2024 | 12:53 pm

Capitol Federal Financial, Inc., known by its acronym CFFN, has announced its net income for the quarter ending on March 31, 2024. The company made a profit of $13.8 million, which amounts to $0.11 per share. Over the same quarter, the total interest and dividend income reached a substantial $93.3 million. Furthermore, the company's net interest income stood at $41.32 million.Regarding the Bank's provision for credit losses, an amount of $301 thousand was recorded for the same quarter. The total non-interest income for the period was $4.64 million.As for the company's monetary reserves, Capitol Federal Financial, Inc. had $46.3 million in cash deposited at the Bank as of March 31, 2024. For the financial year of 2024, the board intends to distribute a regular quarterly cash dividend of $0.085 per share, culminating in a total of $0.34 per share for the year. Furthermore, if the earnings for the fiscal year of 2024 surpass $0.34 per share, the board will contemplate disbursing additional dividends.The material has been provided by InstaForex Company - www.instaforex.com

Gold recovers as traders seize opportunity on pullback as global risks subside

Apr 24, 2024 | 12:52 pm

Gold recovered some ground on Wednesday after posting back-to-back negative sessions during the beginning of the week as geopolitical risks abated.

US Dollar gains some ground ahead of GDP data

Apr 24, 2024 | 12:50 pm

The US Dollar Index (DXY) is trading mildly higher at 105.90, buoyed by high US yields amidst hawkish bets on the Federal Reserve (Fed).

Mexican Peso falls despite higher inflation, diminishing hopes for Banxico cut

Apr 24, 2024 | 12:48 pm

The Mexican Peso weakens on Wednesday as the North American session begins, following a mixed inflation report for the first half of April.

Ferrari's Italian Subsidiary Signs For Multi-year Title Partnership With HP

Apr 24, 2024 | 12:38 pm

Ferrari N.V, more commonly known as RACE, recently announced that a multi-year partnership agreement has been signed between its Italian subsidiary, Ferrari S.p.A., and HP Inc., often referred to as HPQ. As a result of this partnership, the HP brand name will feature prominently on the racing assets of Scuderia Ferrari.Under the agreement, Ferrari plans to utilize HP's technology and services to boost its performance, both on and off the race track. The technologies and services to be implemented include adaptive PCs and devices, collaboration products and services, and printing capabilities. This long-term partnership will lead to the creation of a new brand identity known as 'Scuderia Ferrari HP.'The Maranello F1 cars are set to debut the HP logo ahead of the Miami Grand Prix, a popular racing event which is scheduled to take place from May 3 to May 5.The material has been provided by InstaForex Company - www.instaforex.com

Meta Platforms, ServiceNow and Chipotle report after the close. What to expect?

Apr 24, 2024 | 12:31 pm

Meta Platforms expectations:EPS: Expected to be $4.32. A year ago, EPS was at $2.20. That is a gain of 96%Revenue: Projected at $36.1 billion. A year ago revenues were at $28.64 billion. That represents a gain of 26.0%Daily Active Users (DAUs): Expected to be 2.12 billionMonthly Active Users (MAUs): Forecasted to be 3.09 billionLast quarter, Meta initiated a $0.50 per share dividend and increased its stock buyback authorization by $50 billion.The price of Meta was at $209.47 before the April 2023 earnings. The current price is at $492.35. That is a gain of 135%. Chipotle expectations:Revenue: Projected at $2.67 billion, an increase of 12.9% from $2.37 billion in Q1 2023.EPS: Expected to be $11.66, up 11.1% from $10.50 in Q1 2023.Same-Store Sales Growth: Anticipated to be 5.13%.Menu Price Increases: Estimated at 2.87%.Transactions Growth: Projected to grow by 3.03%.Average Check Growth: Expected to increase by 2.00%.Digital Sales Growth: Forecasted to be 3.39%.New Restaurant Openings: Chipotle plans to open between 285 to 315 new restaurants in 2024, conditional on avoiding worsened delays related to developers, permits, inspections, and utilities.The price of Chipotle was at $1780 just before Q1 2023 earnings. It's currently chairs trade at $2938.90. The stock is up 65.10%. A lot is priced in. I love the food and options and especially love that 1 bowl feeds both my wife and I and is relatively healthy alternative. ServiceNow expectations. EPS: The expectations for earnings-per-share of $3.13. That is up from $2.37 a year ago. That is a gain of 32.06% from a year agoRevenues: Revenues are expected at $2.59 billion versus $2.096 billion a year ago. That's a gain of 23.56%.The price of ServiceNow has moved from a $442 a year ago, to the current price of $748 for a gain of 69.23%. This article was written by Greg Michalowski at www.forexlive.com.

Dow Jones Industrial Average cycles on Wednesday as investors wait for key US data

Apr 24, 2024 | 12:02 pm

The Dow Jones Industrial Average (DJIA) stumbled on Wednesday, falling from recent highs near 38,550.00 as investors ease off of Tuesday’s risk appetite.

Canadian Dollar pulls back on Wednesday, Canada Retail Sales disappoint

Apr 24, 2024 | 11:58 am

The Canadian Dollar (CAD) is broadly softer on Wednesday, paring back recent gains and falling back against all of its major currency peers as the single worst-performing currency for the mid-week market session.

No help from the inventory data as WTI crude settles down 55 cents

Apr 24, 2024 | 11:39 am

WTI crude oil traded in a $1.25 range today and initially traded higher briefly on weekly US inventory data before fading afterwards. I think that you need to go back to yesterday to get some of the context of the rally. There was a big intraday rally in oil that looks to me like the private inventory numbers leaked (which is common).That was compounded when today the EIA reported a 6.3 million barrel draw compared to a 0.8m build expected and oil jumped and then dropped. Zoom out and oil is about where it was at the start of the week. I take that as something of a win for the bulls, given the declining Middle East tensions.If oil can continue to consolidate for another week or two above $80, then there's a good chance the bulls take a run at $90. This article was written by Adam Button at www.forexlive.com.

EUR/JPY Price Analysis: Bulls continue dominating, yet a consolidation may be incoming

Apr 24, 2024 | 11:24 am

The EUR/JPY stands at 165.68, trading with mild gains still in multi-year highs.

Forex Today: Cautious trade supported the Dollar ahead of US GDP

Apr 24, 2024 | 11:06 am

The Greenback regained composure and kept the recent optimism in the risk complex on check ahead of the publication of US GDP figures and inflation gauged by the PCE later in the week.

Steady buying pulls US equities back higher

Apr 24, 2024 | 11:04 am

The intraday swings in equities in the past two weeks have been tough to manage and that's been the case again today. Stocks opened higher then were beaten down, in part due to rising Treasury yields.However the tide has turned since the 5-year sale of Treasuries came in close enough (0.4 bps tail). The bids have been non-stop since then, pulling the index 30 points from the lows.I wouldn't expect any break in the volatility from here with Meta, IBM, Ford and Chipotle among the names reporting after the bell. This article was written by Adam Button at www.forexlive.com.

USD/JPY pushes the range to 155.35

Apr 24, 2024 | 10:47 am

USD/JPY has pushed to a new 34-year high at 155.37. The market tip-toed through 155.00 early in US trading and after a peak above, has evidently decided there's no intervention boogey-man on the other side. That's flashed a green light for buyers and a test of higher levels.LDP official Takao Ochi today said there's not yet active discussion on what yen levels would be deemed as worth intervening but said a move towards 160 or 170 could force action.That sounds like an invitation to me. This article was written by Adam Button at www.forexlive.com.

Spanish Prime Minister Pedro Sanchez says he's suspending public duties

Apr 24, 2024 | 10:32 am

Spanish PM Pedro Sanchez says he's suspending public duties to reflect on his future.This comes after a Spanish court launched a preliminary investigation into whether his wife. It's not clear if the investigation is from an accusation by an opposition party that she used her position to secure sponsors for a university master's degree course that she ran. This article was written by Adam Button at www.forexlive.com.

United States 5-Year Note Auction rose from previous 4.235% to 4.659%

Apr 24, 2024 | 10:13 am

United States 5-Year Note Auction rose from previous 4.235% to 4.659%

US sells $70 billion of five-year notes at a high yield of 4.659%

Apr 24, 2024 | 10:02 am

High yield 4.659%WI level at the time of the auction: 4.655%Tail 0.4 basis points versus six-month average of 0.5 basis pointsBid to cover 2.39 Xversus six-month average of 2.41XDirects 19.25% versus six-month average of 17.9%Indirects 65.74% versus six-month average of 65.4%Dealers 15.02 % versus six-month average of 16.7%Auction Grade: C+Domestic demand was stronger than average. International demand was on par with the average. Bid to cover was near the six-month average. Although there was a positive tail of 0.4 basis points, it also is near the average over the last 6-months.So overall, it is above average, but not by much.PS: the $70 billion was a record amount auction for that issue. Tomorrow the coupon auctions finish for the week with the sale of $49 billion of the 7-year notes. This article was written by Greg Michalowski at www.forexlive.com.

Pound Sterling poised to resume downtrend, despite ‘morning star’ formation

Apr 24, 2024 | 09:54 am

GBP/USD Price Analysis: Poised to resume downtrend, despite ‘morning star’ formation The Pound Sterling is experiencing slight losses against the US Dollar, largely due to the influence of high US Treasury yields that are bolstering the Greenback.

David EInhorn (Greenlight Capital) says investors don't care about value investing

Apr 24, 2024 | 09:53 am

David Einhorn, billionaire president of Greenlight Capital in his letter to investors said:Investors don't understand or don't care about valuations. Says the value investing industry is deadThat does not stop him from his value investing. Some of the stocks he has bought include: Penn Entertainment (PENN). The stock is down -33.44% in 2024, but he sees value.Hewlett Packard (HPQ) - Doen -6.33% in 2024Roivant Sciences (ROIV) - Down -3.12% in 2024Liberty Global (LBTYA) - Down -9% in 2024He is also a large investor in gold which has done well in 2024 (up 12.71%.Meanwhile, the major indices are now all negative:Dow industrial average -0.38%S&P index -0.32%NASDAQ index -0.19%Russell 2000-0.82%Meta Platforms which reports after the close is trading down -1.18%. ServiceNow and Lam Research will also report earnings after the close:ServiceNow is training up $1.63 for 0.22% at $742.58 Lam Research is trading up $1.49 or 0.17% at $888.91. This article was written by Greg Michalowski at www.forexlive.com.

$YM_F Dow Futures Reacting Higher After Double Correction Lower

Apr 24, 2024 | 09:43 am

This technical blog will look at the past performance of the 4-hour Elliott Wave Charts of Dow futures ticker symbol: $YM_F.

Platinum (PL) Turning Higher

Apr 24, 2024 | 09:41 am

Platinum (PL) looks to have formed a bottom and the metal has started to rally higher in the next bullish cycle.

American Airlines (AAL) : Buying The Stock at the Blue Box

Apr 24, 2024 | 09:41 am

Hello fellow traders, As our members know we have had many profitable trading setups recently.

SPDR Metals & Mining ETF ( $XME) Found Buyers at the Blue Box Area as Expected.

Apr 24, 2024 | 09:34 am

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Metals & Mining ETF ($XME).

Elliott Wave Suggests AT&T Inc. (T) Last Leg Lower Could Have Started

Apr 24, 2024 | 09:34 am

AT&T Inc. (T) is an American multinational telecommunications holding company headquartered in Dallas, Texas.

U.S. Treasury to auction off $70 billion of five-year notes at 1 PM

Apr 24, 2024 | 09:18 am

The U.S. Treasury will auction off a record amount ($70 billion) of 5-year notes at 1 PM ET. The results will be judged in relation to the 6-month averages of the major components. Below are the results from the auction last month and the support averages of the major components.High Yield:Previous: 4.235%Six-auction average: 4.288%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: -1.0 bpsSix-auction average: 0.5 bpsBid-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: 2.41xSix-auction average: 2.41xDealers (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: 12.7%Six-auction average: 16.7%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: 16.8%Six-auction average: 17.9%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: 70.5%Six-auction average: 65.4% This article was written by Greg Michalowski at www.forexlive.com.

Russia Industrial Output below forecasts (4.2%) in March: Actual (4%)

Apr 24, 2024 | 09:00 am

Russia Industrial Output below forecasts (4.2%) in March: Actual (4%)

European equity close: The three-day winning streak ends

Apr 24, 2024 | 08:47 am

Closing changes:Stoxx 600 -0.5%German DAX -0.4%UK FTSE 100 -0.1%French CAC -0.3%Italy MIB -0.3%Spain IBEX -0.5%European stocks ended near the lows after erasing earlier gains. The drop coincided with heavy selling in fixed income, particularly in Italy and Germany. This article was written by Adam Button at www.forexlive.com.

Will the US election be about weakening the dollar?

Apr 24, 2024 | 08:42 am

The FX market may have a reason to pay even more attention to the US election this November.Late yesterday, there was a Politico report saying Trump’s former trade adviser Robert Lighthizer and several policy allies would seek to make American trade more competitive by purposely weakening the dollar.Yesterday, Trump also posted this on his social media platform. The Dollar has just hit a 34 year high against the Yen, a total disaster for the United States. When I was President, I spent a good deal of time telling Japan and China, in particular, you can't do that. It sounds good to stupid people, but it is a disaster for our manufacturers and others. They are actually unable to compete and will be forced to either lose lots of business, or build plants, or whatever, in the "smart" Countries. This is what made Japan and China into behemoths years ago. I put limits on both (and others!), and if they violated those limits, there was hell to pay. Biden has let it go. Watch them now pick apart the U.S. It will be an open field day. Don't let this happen Crooked Joe. Wake up and smell the roses!It's not clear how a Trump administration would try to weaken the dollar. He seems to think that Japan is trying to weaken their currency when they're trying to strengthen it. This article was written by Adam Button at www.forexlive.com.

Gold finds a foot and rises to a two-day high

Apr 24, 2024 | 08:08 am

Gold got ahead of itself in the past seven weeks but it's showing in the past two days that it might not be dead yet.The $100 reversal on Monday is still sorting itself out but it's risen above some minor resistance in the past few minutes. There haven't been many dips to buy so this will be a good test of whether anyone is out there in the weeds. This article was written by Adam Button at www.forexlive.com.

Mexican Peso weakens after Mexican inflation data

Apr 24, 2024 | 07:52 am

The Mexican Peso (MXN) trades higher in most pairs midweek following widespread weakness among the majors after the release of disappointing Manufacturing Purchasing Manager Index (PMI) data weighed, especially on the US Dollar (USD).

AUD/USD continues rising after inflation in Q1 proves stickier-than-expected

Apr 24, 2024 | 07:50 am

AUD/USD trades off the highs of the day just below 0.6500 on Wednesday, after peaking at 0.6530 overnight following the release of stickier-than-expected Australian inflation data, which showed price gains were higher in Q1 than economists had predicted.

GBP/USD Price Analysis: Poised to resume downtrend, despite ‘morning star’ formation

Apr 24, 2024 | 07:47 am

The Pound Sterling is experiencing slight losses against the US Dollar, largely due to the influence of high US Treasury yields that are bolstering the Greenback.

USD/CAD bounces back to 1.3700 after weak Canadian Retail Sales data

Apr 24, 2024 | 07:42 am

The USD/CAD pair witnesses strong buying interest and rises to 1.3700 as the Statistics Canada has posted weaker-than-expected Retail Sales data for March.

EIA weekly US oil inventories -6368K vs +825K expected

Apr 24, 2024 | 07:31 am

Prior was +2735KGasoline -634K vs -1775K expectedDistllates +1614K vs -1093K expectedRefinery utilization +0.4% vs +0.6% expectedPrivate inventories from late yesterday:Oil -3230KGasoline -595KDistillates +724KI tend to think this was frontrun yesterday. This article was written by Adam Button at www.forexlive.com.

United States EIA Crude Oil Stocks Change came in at -6.368M below forecasts (1.6M) in April 19

Apr 24, 2024 | 07:31 am

United States EIA Crude Oil Stocks Change came in at -6.368M below forecasts (1.6M) in April 19

Gold price weakens further amid caution ahead of key US macro data

Apr 24, 2024 | 07:29 am

Gold price (XAU/USD) faces pressure while attempting to extend recovery above $2,320 in Wednesday’s early New York session.

Pause in bounce

Apr 24, 2024 | 07:26 am

Let‘s jump right into the stock market commentary this European morning and 10 min after the opening bell, together with the reason for late and brief analysis today (everything fine and resolved, just two more visits ahead later this and then next month).

Natural Gas sees losses amount to nearly 5% under heavy profit taking

Apr 24, 2024 | 07:22 am

Natural Gas (XNG/USD) needs to let lose of its gains from Tuesday, snapping a six-day rally sparked by a possible escalation of tensions in the Middle East as the US is set to

AUD/USD to face resistance at 200-day SMA at 0.6529 – Rabobank

Apr 24, 2024 | 07:21 am

Analysts at Rabobank share their short-term outlook for AUD/USD.

European bonds are taking a beating

Apr 24, 2024 | 07:20 am

The picture is darkening in the fixed income world, led by a sharp rise in Italian and German sovereign debt.Italian 10-year BTPs are up 14.1 basis points today, breaking the April highs. They're now within striking distance of the 4% level that capped the February rise.Over in Germany, bund yields are up 8.7 bps as well and trading at the highs.The sentiment has bled into the US, where US 10s are up 6.4 bps. Eyes will be on the five-year tenor later with a $70 billion auction at 1 pm ET.It's not clear what the catalyst has been for this move. Commentary from Visa yesterday cited 'stable consumer spending' and today's economic data was benign. This article was written by Adam Button at www.forexlive.com.

Atlanta Fed Q1 GDPNow 2.7% vs 2.9% prior

Apr 24, 2024 | 07:11 am

The flash Q1 US GDP estimates is due on Thursday so we're down to the final readings from the Atlanta Fed, which has a good recent track record.Their latest estimate is 2.7% compared to 2.9% previously. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcasts of first-quarter real personal consumption expenditures growth and first-quarter real gross private domestic investment growth decreased from 3.5 percent and 3.7 percent, respectively, to 3.3 percent and 3.5 percent.The consensus for Thursday's report is 2.5%, down from 3.4% in Q4. This article was written by Adam Button at www.forexlive.com.

Pound Sterling recovery stalls amid firm speculation for early BoE rate cuts

Apr 24, 2024 | 07:02 am

The Pound Sterling (GBP) turns sideways around 1.2450 against the US Dollar (USD) in Wednesday’s early American session after bouncing back strongly from a five-month low at around 1.2300.

USD/CHF Price Analysis: Trades close to six-month high around 0.9150

Apr 24, 2024 | 06:45 am

The USD/CHF pair hovers around the six-month high of 0.9150 in Wednesday’s early American session.

US Dollar sees intraday gain dampening after Durable Goods print

Apr 24, 2024 | 06:31 am

The US Dollar (USD) sees its recovery attempt being cut short after the US Durable Goods release. Although it was a quite good print with the actual numbers coming in above the survey numbers, the cut down revisions triggered some easing in the US Dollar

EUR/USD comes off its highs despite strong IFO data

Apr 24, 2024 | 06:28 am

EUR/USD trades just shy of 1.0700 on Wednesday after weaker-than-expected private sector growth and US business activity dent the myth of US economic exceptionalism, weighing on the US Dollar (USD).

EUR/GBP Price Analysis: Downmove reaches critical support level

Apr 24, 2024 | 05:42 am

EUR/GBP price has reversed and fallen to a key support level at around 0.8590, where it is currently consolidating.

US Durable Goods Orders rise 2.6% in March to $283.4 billion

Apr 24, 2024 | 05:35 am

Durable Goods Orders in the US rose 2.6%, or $7.3 billion, to $283.4 billion in March, the US Census Bureau reported on Wednesday.

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

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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

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

Apr 2, 2024 | 22:27 pm

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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

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Mar 20, 2024 | 00:06 am

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Mar 19, 2024 | 00:26 am

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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

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Mar 14, 2024 | 00:24 am

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Forex Today: US Inflation Ticks Higher to 3.2%

Mar 12, 2024 | 23:29 pm

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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

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Mar 11, 2024 | 00:17 am

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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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