European markets saw a strong rally today, with notable fund inflows driving gains in DAX and Euro. Investor sentiment was boosted by expectations of increased military spending after the announcement of the UK and France-led “Coalition of the Willing” to support Ukraine. FTSE and Sterling also benefited from the renewed optimism, as traders priced in
Published: March 3, 2025 at 8:05 a.m. ET Nvidia Corp.’s market performance over the past six months is a good illustration of the difference between a good company and a good stock. Nvidia — the company — has performed phenomenally. Its cumulative earnings per share over the past two quarters were more than 800% higher than
The Pound Sterling rises to near 1.2650 against the US Dollar due to positive developments in the Russia-Ukraine peace truce. Fears of US President Trump’s tariffs on Canada, Mexico, and China loom large. The BoE is expected to follow a careful and gradual policy-easing approach. The Pound Sterling (GBP) trades higher against its major peers, except
The USD/CAD outlook indicates unexpected strength in Canada’s economy. The outlook for Canada’s economy remains gloomy. PCE data revealed a decline in US consumer spending. The USD/CAD outlook indicates unexpected strength in Canada’s economy that has paused the loonie’s recent decline. However, the outlook for the currency remains bleak as market participants expect Trump’s tariffs
India’s manufacturing activity continued to expand strongly in February, though at the weakest pace in more than a year, data compiled by S&P Global showed on Monday. The HSBC final manufacturing Purchasing Managers’ Index dropped to 56.3 in February from 57.7 in January. The flash reading was 57.1. However, a score above 50.0 indicates expansion.
Bitcoin led the charge in an otherwise quiet Asian session, rebounding over 20% from last week’s low after a major announcement from US President Donald Trump. The cryptocurrency sector saw dramatic relief from its steep selloff last week, as Trump revealed the creation of a strategic crypto reserve, including Bitcoin, Solana, XRP, and other digital
The Indian Rupee gains traction in Monday’s early European session. Foreign exchange intervention from the RBI might help limit the INR’s losses. India’s HSBC Manufacturing PMI and US ISM Manufacturing PMI will take center stage later on Monday. The Indian Rupee (INR) gathers strength on Monday. The potential intervention from the Reserve Bank of India (RBI)
There is just one to take note of on the day, as highlighted in bold. That being for USD/CAD at the 1.4440 level. It’s not one that ties to any technical significance and with the dollar and loonie now, a lot will ride on Trump’s tariffs plan in the next 24 hours. So, the expiries
It will be a busy week ahead with numerous economic events. Monday kicks off with manufacturing PMI releases for the eurozone, Switzerland, the U.K., and Canada. However, special attention will be on the U.S. ISM manufacturing PMI and ISM manufacturing prices. On Tuesday, Australia’s monetary policy meeting minutes will be released alongside retail sales data
Japan’s manufacturing activity continued to contract in February albeit at a slower pace, final survey data from S&P Global revealed on Monday. The au Jibun Bank manufacturing Purchasing Managers’ Index rose to 49.0 in February from 48.7 in January. The flash reading was 48.9. However, a reading below 50.0 indicates contraction. Operating conditions deteriorated for
The Australian Dollar gains ground following the TD-MI Inflation Gauge, and China Manufacturing PMI data released on Monday. China’s Caixin Manufacturing PMI increased to 50.8 in February from January’s 50.1. The US Dollar struggles as US PCE inflation data aligns with expectations, easing concerns over unexpected US inflation spikes. The Australian Dollar (AUD) halted its six-day
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,
An oil refinery in the Russian city of Ufa was on fire, according to the state RIA news agency. The regional branch of Russia’s emergency ministry reported that residents in nearby areas face no danger from the blaze, per Reuters. “There is no threat to residents of nearby areas,” said RIA. The cause of the
S&P Global Australian FINAL Manufacturing PMI for February 2025 50.4, highest level in two years preliminary was 50.6 prior was 50.2 Commentary from the report, bolding is mine: “February’s Australian Manufacturing PMI data showed that business conditions in the goods producing sector continued to improve. Forward-looking indicators, including a renewed rise in new orders and
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