Analysts at Societe Generale provide a sneak peek at what they expect from the Bank of England’s (BoE) ‘Super Thursday’. Also read: BoE Interest Rate Decision Preview: A close call between 50 bps and 75 bps, GBP/USD set to suffer Key quotes “We maintain our forecast of a 75 bps hike on the way to
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Crypto and stock trading platform Robinhood highlighted lagging cryptocurrency revenue in the third quarter of 2022, though the results will do little to dampen its ambition to serve the market, its CEO says. The trading platform announced its third-quarter results on Nov. 2, with the Robinhood executives pointing to a 12% quarter-on-quarter decrease in Monthly
I call a “lap”, a price move that moves quickly in one direction and retraces the full move almost as fast. THat is what has happened in all of the major currency pairs. You often have a lap happen because the market misinterprets a news item, or there is a player or players who single
Y’all Fed up yet? Right then, here is what is ahead for Asia on the data agenda. Nothing too much here to jiggle around major FX to much extent. The services (private survey) PMI from China will still be showing the effects of rolling COVID outbreaks and lockdowns. Still waiting for the Xi ‘pivot’ on
In this article QCOM Follow your favorite stocksCREATE FREE ACCOUNT Cristiano Amon, president and CEO of Qualcomm, speaks during the Milken Institute Global Conference on May 2, 2022, in Beverly Hills, Calif. Patrick T. Fallon | AFP | Getty Images Qualcomm shares fell 7% in extended trading on Wednesday after the chipmaker reported in-line fiscal
Private payroll growth held strong in October while worker pay rose as well, particularly in the leisure and hospitality industry, according to a report Wednesday from payroll processing firm ADP. Companies added 239,000 positions for the month, ahead of the Dow Jones estimate of 195,000 and better than the downwardly revised 192,000 in September. Wages
Gold price in the national capital gained Rs 51 to Rs 50,964 per 10 grams on Wednesday amid weak rupee, according to Securities. In the previous trade, the gold had touched Rs 50,913 per 10 grams. Silver, however, dropped Rs 502 to Rs 59,265 per kilogram. The rupee depreciated 12 paise to 82.71 against the
The financial markets are all very steady today, awaiting FOMC rate decision. A 75bps hike a done deal, and the key is whether Fed Chair Jerome Powell would signal slower tightening pace ahead. For now, Dollar is the weaker one for today, followed by Euro and Sterling. On the other hand, Yen is the stronger
Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks on the monetary policy outlook at a press conference following the meeting of the Board of Governors. Powell’s speech will start at 18:30 GMT. Follow our live coverage of the Fed’s policy announcements and the market reaction. [embedded content] About Jerome Powell
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EURGBP awaits the next shove The EURGBP is consolidating in up and down trading today. Looking at the hourly chart, the pair is ping ponging between the falling 100 hour MA above currently at 0.86204, and the 100 day MA below (blue overlay) at 0.85938. ON Friday, the price fell below the 100 day MA
A further slump in demand conditions sees the euro area manufacturing downturn deepen in October, with the headline reading being a 29-month low. Geopolitical uncertainty, high inflation and weaker economic conditions around the world weighed on foreign client spending with manufacturing output falling for a fourth straight month. S&P Global notes that: “The eurozone goods-producing
In this article PFE Follow your favorite stocksCREATE FREE ACCOUNT Vials containing the Pfizer/BioNtech vaccine against the coronavirus disease (COVID-19) are displayed before being used at a mobile vaccine clinic, in Valparaiso, Chile, January 3, 2022. Rodrigo Garrido | Reuters Pfizer on Tuesday raised its 2022 earnings guidance after booking a strong third quarter that
NEW DELHI: Gold prices ticked marginally higher on Wednesday supported by a pullback in the US dollar. All eyes were on the US Federal Reserve’s outlook on the future pace of interest rate hikes at the central bank’s policy outcome later in the day. Investors widely expect the Fed to raise its benchmark overnight interest
Dollar is trading mildly lower in Asian session today, but manages to maintain most of this week’s gain so far. The greenback will look into today’s FOMC rate decision, where a 75bps hike is well priced in. Today’s Fed meeting is not about today, but how Chair Jerome Powell would indicate the rate path ahead.
USD/INR struggles for a clear directions despite pushing back bears. RBI’s likely inaction jostles with Fed’s 75 bps dovish hike to challenge traders, Reuters’ poll signals more pain for INR. Cautious optimism, sluggish yields test upside momentum ahead of FOMC. USD/INR remains sidelined around 82.70, mostly unchanged on the day, even as bulls try to