Global financial markets last week were influenced by a combination of clarity and uncertainty. In the US, economic data reinforced expectations of a gradual and measured policy easing path by Fed. Investors embraced the prospect that Fed would not repeat the aggressive 50 bps rate cut implemented in September. This optimism regarding a soft landing
France’s newly-installed government on Thursday presented a draft budget containing 60 billion euros ($65.6 billion) in tax hikes and spending cuts, as analysts warned the package may not be enough to stave off ratings downgrades for the economy. The 2025 budget features a greater focus on tax-raising measures than some were expecting. Analysts also flagged
Jim Cramer has been considering a potential investment in BlackRock, the world’s largest asset manager, and we’re now adding it to our Bullpen stocks-to-watch list. The news BlackRock shares surged to a record high Friday after the firm posted third-quarter earnings that crushed analysts’ expectations, yet again. Management also announced that assets under management reached
JPMorgan stock sails ahead on an impressive Q3 showing. GAAP EPS arrives 10% above Wall Street consensus. Revenue benefits from investment banking, wealth management fees. Traders focus on setting new all-time high. JPMorgan (JPM) stock surged over 5% on Friday after the nation’s largest bank released earnings that strongly beat consensus. The Producer Price Index (PPI)
The NZDUSD traded above and below the 100-day MA this week but above the 200-day MA (green line) into the mid-week RBNZ rate decision. The central bank cut rates by 50 basis points and that sent the pair below the 61.8% but buyers came in against the 61.8% retracement. The subsequent bounce off the low
Goldman Sachs suggests that the EUR should now be considered the funding currency of choice, particularly in comparison to the CHF and JPY, given current market conditions and expectations for currency performance. Key Points: The firm utilizes its market regimes framework to analyze FX performance based on yield direction and rate volatility, indicating that the
Gold prices were little changed on Thursday, while traders await a key U.S. inflation print due later in the day to gain further clarity of the Federal Reserve‘s monetary policy stance. FUNDAMENTALS * Spot gold was nearly flat at $2,609.72 per ounce, as of 0040 GMT, after easing for the previous six sessions. Prices scaled
Trading in the early US session is relatively subdued, with little momentum driving market moves. Canadian Dollar, despite an initial attempt to rally on the back of stronger-than-expected job data, has not been able to attract sustained buying interest. The market continues to price in further easing from BoC, as expectations mount that the central
Federal Reserve Chairman Jerome Powell arrives to a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. Anna Moneymaker | Getty Images This week’s inflation data provided more evidence that the Federal Reserve is nearing
Wells Fargo extended its recent winning streak to six straight sessions Friday despite missed expectations on third-quarter revenue. Investors focused instead on the bank running leaner and generating better-than-expected profitability. Total revenue for the three months ended Sept. 30 fell 2.4% versus last year, to $20.37 billion, missing analysts’ expectations of $20.42 billion, according to
The Dow Jones climbed into an all-time peak on Friday. US PPI figures showed September producer-level inflation stayed flat overall. Upbeat bank earnings helped to further bolster equities. The Dow Jones Industrial Average (DJIA) rose over 400 points bottom-to-top on Friday, bolstered into a fresh record high of 42,837 after US Producer Price Index (PPI)
If you are confused about the price action, you are not alone. However, technicals often tell the story of the price action, and if you can think of the price action as the dilemma buyers and sellers are facing, that story becomes more clear. IN the NZDUSD, we know the 61.8% was support. I talked
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. Brent crude oil futures fell 39 cents, or 0.5%, to $79.01 a barrel
Risk sentiment appears to have stabilized heading into the weekend, despite stronger-than-expected US inflation data released overnight. The report didn’t cause any significant shifts in market expectations regarding Fed’s rate cuts. Stock markets also showed resilience, with major US indexes closing only slightly lower. Dollar, however, has lost some momentum, turning softer against both Swiss
Alexander Spatari | Moment | Getty Images LONDON — The U.K. economy grew 0.2% in August on a month-on-month basis, flash figures published by the Office for National Statistics showed Friday. Gross domestic product (GDP) came in line with the expectations of economists polled by Reuters, who had forecast growth of 0.2%. Britain’s economic growth
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT CEO of Chase Jamie Dimon looks on as he attends the seventh “Choose France Summit”, aiming to attract foreign investors to the country, at the Chateau de Versailles, outside Paris, on May 13, 2024. Lucovic Marin | Getty Images JPMorgan Chase is scheduled to report
UK GDP expands 0.2% MoM in August, matches estimates GBP/USD battles 1.3050 after the UK data. The UK economy expanded by 0.2% over the month in August, having stagnated for the second consecutive month in July, the latest data published by the Office for National Statistics (ONS) showed on Friday. The reading matched the market
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