Meta is working with U.K. banks NatWest and Metro Bank on an information-sharing agreement to help them prevent customers from falling victim to fraud.
With Hurricane Helene disrupting travel, here’s what fliers need to know
Travelers impacted by Hurricane Helene’s destruction in the Southeast U.S. may be out of luck when it comes to financial compensation.
Nike withdraws guidance, postpones investor day as it gears up for CEO change
Nike on Tuesday said it was withdrawing its full-year guidance and postponing its investor day as it gears up for a new CEO to take the helm.
UK Financial System Faces Growing Concerns Amid Global Economic Downturn Fears
Full Story on PiQ Suite
Worries about risks to the UK financial system posed by a global economic downturn have risen sharply to their highest level since the second half of 2019, a Bank of England (BOE) survey showed on Wednesday.
The Bank’s twice-yearly systemic risk survey polled 55 financial firms between July 23 and August 12 and asked each participant to list the five risks they believed would have the greatest impact on the UK financial system if they materialised.
One-third of participants flagged worries about the threat to the UK financial sector associated with an overseas/global economic downturn, an increase of 19 percentage points and the largest single increase compared with the results of the previous survey in March, the BoE said.
This article was written by Ryan Paisey at www.forexlive.com.
United States MBA 30-Year Mortgage Rate – Actual: 6.14% Previous: 6.13%
Latest U.S. Mortgage Data:
- 30-Year Mortgage Rate
- Actual: 6.14% Previous: 6.13%
- Mortgage Applications (WoW)
-
Actual: -1.3%
Previous: 11.0%
-
Actual: -1.3%
- Mortgage Market Index
- Actual: 292.3
Previous: 296.1
- Actual: 292.3
- Purchase Index
- Actual: 149.3
Previous: 148.2
- Actual: 149.3
- Mortgage Refinance Index
- Actual: 1,099.5
Previous: 1,132.9
- Actual: 1,099.5
This article was written by Ryan Paisey at www.forexlive.com.
Japan’s PM Ishiba: Not in an environment for additional rate hike
- Not in an environment for additional rate hike.
- I want to coordinate with the BoJ on the economy.
- I want to make the economy strong with an economic package.
- We will do all we can to overcome deflation.
- I expect the BoJ to conduct policy to exit from deflation based on 2013 accords.
- I expect the monetary easing trend to stay in place.
When he was elected last week, the JPY rallied while the Nikkei sold off as he was considered a hawk and supportive for further rate hikes. Turns out, he’s not.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
OPEC+ Panel Meeting: No Surprise, Gradual Output Increase Expected
Full Story on PiQ Suite
OPEC+ set to keep output policy unchanged at panel meeting
An OPEC+ ministerial panel scheduled to meet on Wednesday is unlikely to recommend any changes to policy, allowing the group to start gradually increasing production from December, two sources from told Reuters.
The two sources, who declined to be identified, said Wednesday’s meeting is unlikely to bring any surprises. One of them said it will reaffirm the need for member countries to comply with their production targets under the deal.
An OPEC+ source told Reuters last week that clarity on whether the compensation cuts were made in September would allow the December increase to go ahead.
This article was written by Ryan Paisey at www.forexlive.com.
US Futures Lower, Dollar Retreats – @Newsquawk Market Update
Always a ‚must read‘ from the lads at Newsquawk
Summary –
- European bourses are generally on a firmer footing whilst US futures are modestly lower with slight underperformance in the RTY
- Dollar is flat unable to continue the prior day’s geopolitical-indued gains, JPY underperforms with USD/JPY around 144.25
- USTs are flat and Bunds give back some of its recent strength, Gilts follow peers and took another leg lower following an auction
- Crude continues to benefit from the geopolitical risk premium, XAU slips off best levels whilst base metals gain
- Looking ahead, ADP National Employment, NBP Policy Announcement; OPEC+ JMMC Meeting, Speakers including ECB’s Elderson, Schnabel, Fed’s Hammack, Musalem, Bowman & Barkin. Earnings from Conagra & Levis.
This article was written by Ryan Paisey at www.forexlive.com.