The Dutch government said Tuesday it will reduce its stake in ABN Amro to around 30% through a trading plan.
Archiv für den Monat: Oktober 2024
Goldman Sachs beats on profit and revenue as stock trading and investment banking boost results
Wall Street trading and investment banking has helped the big banks this quarter, and Goldman Sachs results showed why they are a leader in those areas.
Fed Governor Waller sees need for ‚more caution‘ ahead when lowering interest rates
Waller on Monday signaled that future interest rate cuts will be less aggressive than the big move in September.
Citigroup earnings top estimates, boosted by investment banking
The bank’s third-quarter report was stronger than Wall Street expected but still showed a year-over-year decline in earnings.
Goldman Sachs beats on profit and revenue as stock trading and investment banking boost results
Wall Street trading and investment banking has helped the big banks this quarter, and Goldman Sachs results showed why they are a leader in those areas.
Walgreens says it will close 1,200 stores by 2027, as earnings top estimates
The drugstore chain Walgreens said it plans to close roughly 1,200 stores over the next three years, which includes 500 closures in fiscal 2025 alone.
Bank of America tops estimates on better-than-expected trading revenue
Bank of America benefited from its Wall Street trading and banking divisions in the third quarter, just as rival JPMorgan Chase did.
Ericsson shares jump 10% on third-quarter beat, growth in North America sales
Shares of Swedish telecom firm Ericsson jumped amid third-quarter core earnings that surpassed analyst expectations and growth North American demand.
China’s housing ministry, MOF and PBoC are to hold a briefing on Thursday
- China to hold press conference on promoting steady and healthy development of property sector on October 17 at 10 am Beijing time.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
Forexlive European FX news: UK jobs data beats
- Equities keep more tentative so far in the new day
- Eurozone August industrial production +1.8% vs +1.7% m/m expected
- Germany October ZEW survey current conditions -86.9 vs -84.5 expected
- USD/JPY wrestles with near-term support after nearing 150.00 yesterday
- IEA cuts 2024 oil demand growth forecast amid China drag
- China economy set to miss growth target in 2024 – poll
- Chinese stocks continue down the bumpy stretch of road in the new week
- European equities mostly a touch higher to start the day
- Spain September final CPI +1.5% vs +1.5% y/y prelim
- France September final CPI +1.1% vs +1.2% y/y prelim
- What are the main events for today?
- Eurostoxx futures +0.1% in early European trading
- UK August ILO unemployment rate 4.0% vs 4.1% expected
- Germany September wholesale price index -0.3% vs -0.8% m/m prior
- FX option expiries for 15 October 10am New York cut
- UK labour market report on the agenda in the session ahead
- BOJ seen keeping interest rates unchanged through year-end – poll
- China banks reportedly set to trim rates on ¥300 trillion of deposits as soon as this week
- Dollar keeps steadier as the week looks to pick up
- Japan PM says aims to for a supplementary budget higher than last years amount
The main event in the European session today was the release of the UK labour market report. The data beat expectations and after some tentative price action, led to a rally in the pound.
We also got the German ZEW which came out on the softer side but the expectations index improved. That didn’t help the euro though as it continues to trade tentatively into the ECB decision on Thursday.
In the markets, the most notable mover has been crude oil as it extended the fall triggered by late yesterday’s news of Israel limiting the counterstrike to military targets.
In FX, we continue to see tight ranges although the bullish momentum in the US Dollar looks to be exhausted as the market might need more to price in a more „hawkish“ path for interest rates than the current Fed’s projections.
In the equity space, the S&P 500 and the Nasdaq are consolidating around yesterday’s highs. We haven’t got any bearish catalyst in the meantime, so the current uptrend will likely remain intact.
In the American session, the main event will be the release of the Canadian CPI. The market
is pricing in a 48% probability of a 50 bps cut at the upcoming meeting. Soft data will likely seal the 50 bps cut,
while higher than expected figures might trigger a relief rally in the CAD.
This article was written by Giuseppe Dellamotta at www.forexlive.com.