Archiv für den Monat: September 2024
Insights from Rally Innovation
TradeTalks highlights the key takeaways from Rally Innovation, Bitcoin’s reaction to the Fed and the evolution of the AI ecosystem in finance. We also hear from Sandip Bhagat, CIO of Whittier Trust, about why the markets have been so resilient this year.
Shaping the Future of Global Business
TradeTalks highlights the latest trends in iGaming, the future of interest rate cuts, the factors driving demand for actively-managed ETFs. We also hear from Martin Rand, CEO of Pactum AI, on how we regulate AI in a meaningful way.
Tuesday’s big stock stories: What’s likely to move the market in the next trading session
On Monday, the three major averages rebounded from their worst week in 2024. Here’s what CNBC TV is watching going into Tuesday.
Britain does a bad job at keeping globally relevant tech firms, former Arm CEO says
Warren East, who led Arm between 1994 and 2013, said that too often tech firms in Britain move their operations overseas or list elsewhere abroad.
Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer business
In late 2022, Goldman Sachs began to pivot away from its consumer operations, beginning a series of write-downs related to selling chunks of the business.
Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer business
In late 2022, Goldman Sachs began to pivot away from its consumer operations, beginning a series of write-downs related to selling chunks of the business.
Oracle shares jump 13% on earnings and revenue beat
While Oracle becomes more competitive in cloud infrastructure, it is also ensuring that competitors can offer its widely used database to their clients.
Forexlive European FX news wrap 10 September – Mixed but overall positive UK jobs data
- The ECB meets later this week, what to expect?
- US August NFIB small business optimism index 91.2 vs 93.7 prior
- It’s debate night in the US
- A short-term bottom for USD/JPY?
- European equities open slightly lower to start the day
- What are the main events for today?
- Eurostoxx futures -0.3% in early European trading
- UK July ILO unemployment rate 4.1% vs 4.1% expected
- Germany August final CPI +1.9% vs +1.9% y/y prelim
- Japan LDP lawmaker Ishiba says key task for Japan is to completely exit from deflation
- TradeLocker: The Future of Trading for Brokers and Prop Firms
- FX option expiries for 10 September 10am New York cut
- A breakdown of China’s trade data for the month of August
- UK labour market data in focus in the session ahead
- China records ¥649.34 billion trade surplus in August
- Dollar holds steady after recent rebound
Markets:
- NZD leads, CAD lags on the day
- European equities lower;
S&P 500 futures down 0.03% - US 10-year yields up 1 bps to
3.719% - Gold up 0.02% to $2,506
- WTI
crude down 1.12% to $67.94 - Bitcoin
up 0.22% to $57,165
It’s been another
quiet session. The mood in the markets has been mixed and the moves have been
shallow.
We got just two notable releases: the UK jobs data and the US NFIB small business optimism index. The former came out generally better than expected, although the August payrolls figure printed negative. The latter disappointed with the index dropping to a two-months low.
There’s nothing else for the day except BoC’s Macklem speech at 12:25 GMT/08:25 ET.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
The ECB meets later this week, what to expect?
It is not too uncommon to see the ECB not hog the spotlight during policy decision weeks. But when it is accompanied by a change in rates, that is a bit uncommon. This week though will be one of those weeks, as the ECB has already well telegraphed a 25 bps rate cut for this month.
So, the question now is what will come next?
For now, arguably more of the same. They can’t pre-commit to another move just yet and they cannot outright declare victory against inflation just yet.
The good news perhaps is that the economy is not slowing at a recession-like pace, forcing them to go faster in the cycle. It seems like things are just about right for the ECB at the moment.
Some policymakers have come out to say that one rate cut every quarter seems to be ideal currently. And I don’t think Lagarde will want to fight that this week. She may not be explicit about it but she surely won’t rule it out either. That considering the recent progress in economic developments.
As such, there won’t be much to scrutinise from the ECB policy decision this week. That unless we do get a surprise in terms of language from Lagarde. But by now, she should not make such a rookie mistake.
Market players are pricing in ~63 bps of rate cuts for the remaining three meetings this year. That just means it’s a toss up between two 25 bps rate cuts or three. And that will depend on the data in the weeks and month ahead, more so than the ECB decision.
This article was written by Justin Low at www.forexlive.com.