Forex News
-
A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a “scapegoat” and failing to take its share of responsibility for missing the trades. Kavish Kataria, who was dismissed from the bank’s Delta One desk last year, said the profits and losses on his trades were reported on a daily basis to ...
-
Stephen Ross, the billionaire real-estate magnate, is gearing up for the Miami Grand Prix this weekend—and he has no plans to give up the Formula 1 event anytime soon. Ross recently turned down a $10 billion offer to take over his sports enterprise, which includes the grand prix, the Miami Dolphins, and Hard Rock Stadium, USA Today reported on Wednesday. ...
-
Currency trading is somewhat unusual in that the price reflects what is happening in two different currency zones. If we want to discuss how currencies relate to inflation, we should keep in mind that we should be talking about the inflation rate in the two currencies. For example, if the inflation rate in Canada is 2% and the inflation rate in the United ...
-
Japanese Finance Minister Shunichi Suzuki on Friday backed currency interventions by his country’s policymakers if the yen moved in sharp directions that started to impact households and companies. Speaking to reporters at the Asian Development Bank’s annual meeting in Tbilisi, Georgia, he said that it was desirable for exchange rates to move stably. “When ...
-
Federal Reserve Governor Michelle Bowman said inflation will likely remain elevated for “some time,” but added she still anticipates price gains will eventually cool with interest rates held at current levels. Bowman, the first Fed official to speak since Chair Jerome Powell’s remarks Wednesday, said recent inflation data suggest the low readings seen at ...
-
The U.S. services sector contracted in March, while a measure of prices paid by businesses for inputs jumped, a worrisome sign for the outlook on inflation. The Institute for Supply Management (ISM) said on Friday that its non-manufacturing PMI fell to 49.4 last month from 51.4 in March, the lowest reading since December 2022. A reading above 50 indicates ...
-
The U.S. services sector contracted in March, while a measure of prices paid by businesses for inputs jumped, a worrisome sign for the outlook on inflation. The Institute for ...
-
Japanese Finance Minister Shunichi Suzuki on Friday backed currency interventions by his country’s policymakers if the yen moved in sharp directions that started to impact ...
-
Federal Reserve Governor Michelle Bowman said inflation will likely remain elevated for “some time,” but added she still anticipates price gains will eventually cool with interest ...
-
Economic activity in the services sector contracted in April for the first time since December 2022, ending a period of 15 consecutive months of growth, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® registered 49.4 percent; it indicated sector expansion in 45 of the previous 47 months. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In April, the Services PMI® registered 49.4 percent, 2 percentage points lower than March's reading of 51.4 percent. The composite index indicated contraction in April after 15 consecutive months of growth since a reading of 49 percent in December 2022, the first contraction since May 2020 (45.4 percent). The Business Activity Index registered 50.9 percent in April, which is 6.5 percentage points lower than the 57.4 percent recorded in March. The New Orders Index ex post: US ISM Services Index Apr: 49.4 (est 52.0; prev 51.4) - Prices Paid: 59.2 (est 55.0; prev 53.4) - Employment: 49.5 (est 49.0; prev 48.5) - New Orders: 52.2 (est 54.5; prev 54.4)
-
Total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job ...
-
post: Fed’s Goolsbee: 175,000 New Jobs is a Very Solid Report - Bloomberg TV post: *GOOLSBEE: NEED TO TAKE A STEP BACK, SEE WHAT INFLATION BUMP IS post: Goolsbee: Hit a Bump on Inflation at the Start of the Year post: Goolsbee: the More Jobs Report That Look Like They Did Pre-Covid the More Confidence There’s That the Economy is Not Overheating post: *GOOLSBEE: DON'T WANT TO COMMIT TO TYING OUR HANDS ABOUT RATES
-
This year JPY hit new lows across the board in last few weeks even though BOJ decided to end its ultra-loose policy, by raising rates for 10bp in March. USDJPY broke higher, out of a triangle on a daily chart, so we know that this is most likely final leg with a higher degree wave III/C. In fact, there was a nice push up to 160 resistance not seen since ...
-
The Australian dollar initially tried to rally during the trading session on Thursday to break above the 50-Day EMA, only to turn around and show signs of negativity. Ultimately, this is a market that I think is trying to settle into some type of short-term range to get ahead of the nonfarm payroll announcement. Remember, this is a pair that has been ...
-
Saxo Bank’s FX clients traded worth $4.1 billion daily in March, the lowest turnover since December 2021. The Danish multi-asset brokerage reported its total monthly FX volume for April 2024 at $99.3 billion, which is up 7.6 percent from $92.4 billion a month ago. However, this figure corresponds to a yearly decrease of 3 percent compared to $103 billion in ...