DOLLAR POSITIVE  The dollar traded higher against a basket of global currencies on Wednesday, buoyed by upbeat housing data indicating a turnaround in the sluggish pace of U.S. home building.

CURRENCY INVESTORS DOLLAR POSITIVE AMID STRONG HOUSING DATA

DOLLAR POSITIVE AMID STRONG HOUSING DATA

 DOLLAR POSITIVE  The dollar traded higher against a basket of global currencies on Wednesday, buoyed by upbeat housing data indicating a turnaround in the sluggish pace of U.S. home building.

CURRENCY INVESTORS DOLLAR POSITIVE  The dollar traded higher against a basket of global currencies on Wednesday, buoyed by upbeat housing data indicating a turnaround in the sluggish pace of U.S. home building.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.14% to 94.58.



DOLLAR POSITIVE

 

U.S. homebuilding in June topped analysts’ expectations, after declining for three straight months, as both single-family and multi-family construction increased, offsetting the recent raft of economic reports pointing to possible weakness in the economy.

Housing starts jumped 8.3 percent to a seasonally adjusted annual rate of 1.22 million units, the highest level since February, the Commerce Department said on Wednesday.

Economists had forecast activity rising to a rate of 5.8%.

The better-than-expected economic data helped the greenback recover recent losses against the euro.

EUR/USD fell 0.29% to $1.1521, as traders look ahead to the European Central Bank (ECB) meeting Thursday amid expectations that the central bank would avoid elaborating on its plans to taper its asset-purchase program.

Investors will also have to contend with an interest rate decision from the ECB, with the majority of analysts expecting an unchanged decision from the central bank.

USD/CAD traded at $1.2595, down 0.25%, as better-than-expected Canadian manufacturing data and a rise in oil prices underpinned a move higher in the oil-sensitive Canadian dollar.

Meanwhile, sterling remained range bound against the dollar, falling to $1.3034, down 0.06%, ahead of an update due Thursday on the progress of Brexit negotiations to determine terms of the UK’s exit from the European Union.

USD/JPY fell to Y111.70, down 0.4%, as traders awaited the Bank of Japan’s monetary policy statement later on Wednesday.

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DOLLAR REMAINS ON THE DOWNSIDE DESPITE STRONG US DATA

DOLLAR REMAINS ON THE DOWNSIDE DESPITE STRONG U.S. DATA

 DESPITE STRONG US DATA  The dollar remained on the downside against the other major currencies on Thursday,

BUZ INVESTORS DESPITE STRONG US DATA  The dollar remained on the downside against the other major currencies on Thursday, as the release of upbeat U.S. economic growth data failed to boost demand for the greenback.

EUR/USD was up 0.33% at a one-year high of 1.1415.

Official data showed that U.S. gross domestic product rose 1.4% in the first quarter, revised up from the previous reading of a 1.2% expansion. Analysts had expected growth to remain unchanged from the prior revision.

On a less positive note, the U.S. Department of Labor said initial jobless claims in the week ending June 24 increased by 2,000 to 244,000 from the previous week’s revised total of 242,000. Analysts expected jobless claims to fall by 2,000 to 240,000 last week.




DESPITE STRONG US DATA

 

Meanwhile, the euro remained supported after European Central Bank President Mario Draghi indicated on Tuesday that the bank could soon start to unwind its quantitative easing program.

GBP/USD gained 0.49% to 1.2989, just off a one-month high of 1.3007 overnight.

The pound strengthened broadly after Bank of England Governor Mark Carney said Wednesday that some removal of monetary stimulus is likely to become necessary as spare capacity in the economy erodes.

The BoE’s monetary policy committee was split 5-3 at its meeting earlier this month on whether to raise interest rates from a record-low 0.25%. Carney voted to keep rates unchanged.

Earlier Thursday, official data showed that U.K. net lending to individuals rose by £5.3 billion in May, beating expectations for an increase of £4.0 billion.

Elsewhere, USD/JPY rose 0.27% to 112.59, while USD/CHF slipped 0.23% to 0.9574.

The Australian dollar was stronger, with AUD/USD up 0.41% at 0.7671, while NZD/USD shed 0.21% to 0.7291.

Data earlier showed that New Zealand’s ANZ Business Confidence index rose to 24.8 in June from 14.9 the previous month.

Meanwhile, USD/CAD slid 0.31% to trade at 1.2997.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.28% at an eight-month low of 95.51.




 Red Hat shares on track  Red Hat Inc. RHT, +10.05% shares jumped more than 9% in after-hours trading Tuesday following a quarterly earnings report

Red Hat shares on track to open at highest since 2000 after strong Q1 results

Red Hat shares on track to open at highest since 2000 after strong Q1 results

 Red Hat shares on track  Red Hat Inc. RHT, +10.05% shares jumped more than 9% in after-hours trading Tuesday following a quarterly earnings report

BUZ INVESTORS  Red Hat shares on track  Red Hat Inc. RHT, +10.05% shares jumped more than 9% in after-hours trading Tuesday following a quarterly earnings report that beat expectations and raised projections for the year, sending prices to levels unseen since the dot-com boom went bust. The open-source tech-infrastructure company reported net income of $73.2 million, or 40 cents a share, on sales of $676.8 million for the first quarter of its 2018 fiscal year. After adjustments for stock-based compensation and other effects, Red Hat claimed profit of 56 cents a share. Analysts on average expected Red Hat to report adjusted earnings of 53 cents a share on sales of $648 million, according to FactSet, and the company had guided for adjusted profit of 52 cents to 53 cents a share. Red Hat also increased its guidance for profit and revenue for the full fiscal year; adjusted earnings are now expected to fall in a range of $2.66 to $2.70 a share,

Red Hat shares on track

Red Hat (NYSE:RHT) Q1 report beat EPS and revenue estimates. Subscription revenue was $597M, up 19% on the year. Deferred revenue was $2.05B at the end of the quarter, up 21%.

Subscription revenue accounted for 88% of overall revenues and $458M of subscriptions came from Infrastructure-related offerings, a 14% growth on the year. Application Development-related and other emerging technologies accounted for the other $139M, a 41% growth.

OCF was $258M for the quarter, up 11%. Total cash and equivalents were $2.31B after a $62M share repurchase.

Q2 guidance: revenue between $695M and $702M compared to $677.42M consensus. EPS expected to come in around $0.67, two cents above consensus. Operating margin expected at 24%.

FY18 guidance: revenue between $2.785B and $2.875B, above the $2.75B consensus, and $2.66 to $2.70 EPS with the low end coming in $0.03 above consensus. Operating margin expected at 23.6% and OCF between $850M and $870M.

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GBPUSD Pound Jumps to 1.25, Markets Eye Autumn

GBPUSD Pound Shrugs Off Strong UK Retail Sales Report

Chart | Calendar   | TRADE NOW | GBPUSD

GBPUSD Pound Shrugs Off Strong UK Retail Sales Report

GBPUSD

BUZ INVESTORS   Pound Shrugs Off Strong UK Retail At 09:40 GMT, the pair is trading at 1.2942, with the Pound trading 0.06% higher against US Dollar from the New York close. Amid no economic releases in Britain today, investors will await the Bank of England’s interest rate decision, scheduled tomorrow. The pair witnessed a high of 1.2987 and a low of 1.2932 during the session. Yesterday, the Pound traded 0.2% higher against the US Dollar in the New York session and ended at 1.2934. Immediate downside, the first support level is seen at 1.2899, while on the upside, the first resistance level is situated at 1.2986.

GBP/USD is unchanged in the Tuesday session. In North American trade, GBP/USD is trading at 1.2940. On the release front, British BRC Retail Sales Monitor impressed with a gain of 5.6 percent. Over in the US, there was another strong employment report, as JOLTS Jobs Openings remained unchanged at 5.74 million, above the estimate of 5.67 million.

There was good news on the consumer spending front in the UK, as retail sales in BRC stores jumped 5.6% compared to a year ago. The sharp increase underscores that consumer spending remains resilient, but there are growing concerns that this trend will change in 2017. Analysts point to two major areas of concern. First, the weak British pound means that consumer purchasing power has decreased, since imported goods have become more expensive.




  Pound Shrugs Off Strong UK Retail

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British Pound | Data | Chart | Calendar | Forecast | News


source: tradingeconomics.com
The GBPUSD increased 0.0008 or 0.06% to 1.2941 on Wednesday May 10 from 1.2933 in the previous trading session. Historically, the British Pound reached an all time high of 2.86 in December of 1957 and a record low of 1.05 in February of 1985.

United Kingdom Markets Last Previous Highest Lowest Unit
Currency 1.29 1.30 2.86 1.05 [+]
Stock Market 7388.84 7342.21 7429.81 427.50 points [+]
Government Bond 10Y 1.17 1.20 16.09 0.52 percent [+]
30 Year Bond Yield 1.84 1.81 16.01 1.22 percent [+]
2 Year Note Yield 0.14 0.16 0.93 0.04 percent [+]
5 Year Note Yield 0.61 0.56 13.58 0.13 percent [+]

 

British Pound Notes

The GBPUSD spot exchange rate specifies how much one currency, the GBP, is currently worth in terms of the other, the USD. While the GBPUSD spot exchange rate is quoted and exchanged in the same day, the GBPUSD forward rate is quoted today but for delivery and payment on a specific future date. This page provides – British Pound – actual values, historical data, forecast, chart, statistics, economic calendar and news. British Pound – actual data, historical chart and calendar of releases – was last updated on May of 2017.

 

Actual Previous Highest Lowest Dates Unit Frequency
1.29 1.30 2.86 1.05 1957 – 2017 Daily

 

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USDCAD Trump Shock Pushes Canadian Dollar Down

USDCAD Strong buying pressures

Chart | Calendar   | TRADE NOW | USDCAD

USDCAD Strong buying pressures

BUZ INVESTORS   Strong buying pressures The pair is trading at 1.3669 at 09:40 GMT this morning, with the USD trading 0.1% higher against CAD from the New York close.

USDCAD

BUZ INVESTORS   Strong buying pressures The pair is trading at 1.3669 at 09:40 GMT this morning, with the USD trading 0.1% higher against CAD from the New York close. The pair traded at a high of 1.3686 and a low of 1.3637 this morning. The US Dollar advanced against the Canadian Dollar in the New York session on Friday, closing 0.07% higher at 1.3656. The Canadian Dollar lost ground, after Canada’s GDP surprisingly remained flat on a monthly basis in February. The pair is expected to its find support at 1.3634 and its first resistance at 1.3700.



Strong buying pressures

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Canadian Dollar| Data | Chart | Calendar | Forecast | News

The USDCAD increased 0.0008 or 0.05% to 1.3651 on Monday May 1 from 1.3643 in the previous trading session. Historically, the Canadian Dollar reached an all time high of 1.61 in January of 2002 and a record low of 0.92 in November of 2007.

  • USD/CAD has broken key resistance given at 1.3599 (28/12/206 high). The pair keeps on pushing higher. Hourly support can be found at 1.3411 (24/04/2017 high) then 1.3353 (20/01/2017 high). Expected to show continued bullish pressures as long as the pair remains above 1.3411.
  • In the longer term, there is a golden cross with the 50 dma crossing the 200 dma indicating further upside pressures. Strong resistance is given at 1.4690 (22/01/2016 high). Long-term support can be found at 1.2461 (16/03/2015 low).

READ MORE 

The USDCAD spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the CAD. While the USDCAD spot exchange rate is quoted and exchanged in the same day, the USDCAD forward rate is quoted today but for delivery and payment on a specific future date. This page provides – Canadian Dollar – actual values, historical data, forecast, chart, statistics, economic calendar and news. Canadian Dollar – actual data, historical chart and calendar of releases – was last updated on May of 2017.
Canada Markets Last Previous Highest Lowest Unit
Currency 1.37 1.36 1.61 0.92 [+]
Stock Market 15586.13 15506.47 15922.37 217.50 points [+]
Government Bond 10Y 1.55 1.55 12.44 0.95 percent [+]

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Canada Inflation Rate Down To 3-Month Low Of 1.6%

Consumer prices in Canada rose 1.6 percent year-on-year in March of 2017, easing from a 2 percent increase in February and below market expectations of 1.8 percent. Gasoline prices slowed and food and clothing cost declined.
Wednesday April 12 2017
Canada Leaves Monetary Policy Unchanged

The Bank of Canada held its overnight rate steady at 0.5 percent on April 12th, 2017, matching market expectations. Policymakers said growth was stronger than anticipated and inflation is in line with the target although significant uncertainties weigh on the outlook. The Bank Rate was also left on hold at 0.75 percent and the deposit rate at 0.25 percent. Policymakers also revised GDP and inflation forecasts.
Friday April 07 2017
Canada Jobless Rate Rises To 6.7% In March

The unemployment rate in Canada increased to 6.7 percent in March of 2017 from 6.6 percent in the previous month and in line with market expectations. Employment rose by 19.4 thousand, beating market consensus of a 5 thousand increase, while the unemployment went up by 27.6 thousand.
General Motors Countered Trump

GM’s profit jumps 34% on strong truck, SUV sales

GM Reports Strong Net Income, Up 33.5 Percent to $2.6 Billion

General Motors Co. (NYSE: GM) today announced record first-quarter earnings and revenue driven by robust retail sales of full-size trucks and crossovers in the United States, continued growth of GM Financial and effective cost performance around the globe.

BUZ INVESTORS PRESS RELEASE GM's profit jumps General Motors Co. (NYSE: GM) today announced record first-quarter earnings and revenue driven by robust retail sales

BUZ INVESTORS PRESS RELEASE  GM’s profit jumps  General Motors Co. (NYSE: GM) today announced record first-quarter earnings and revenue driven by robust retail sales of full-size trucks and crossovers in the United States, continued growth of GM Financial and effective cost performance around the globe.

 




 

GM’s profit jumps

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First-quarter 2017 Records:

  • Revenue of $41.2 billion, up 10.6 percent
  • EBIT-adjusted of $3.4 billion, up 27.9 percent
  • EBIT-adjusted margin of 8.2 percent, up 1.1 points
  • EPS-diluted-adjusted of $1.70, up 34.9 percent
  • North America EBIT-adjusted of $3.4 billion, up 48.8 percent
  • North America revenue of $29.3 billion, up 10.7 percent

Records:

  • GM Financial net revenue of $2.9 billion, up 38.7 percent

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Gold edges down on US interest rate optimism

$XAUUSD Gold prices held back by strong dollar headwinds

Gold prices held back by strong dollar headwinds

 Buz Investors Gold prices held back Gold is trading at $1238.50 per ounce at 10:40 GMT this morning, marginally higher from the New York close.

Gold

Buz Investors Gold prices held back  Gold is trading at $1238.50 per ounce at 10:40 GMT this morning, marginally higher from the New York close. This morning, the precious metal traded at a high of $1239.60 per ounce and a low of $1236.40 per ounce. Yesterday, gold traded 0.07% lower in the New York session and closed at $1238.20 per ounce, as the recent FOMC minutes hinted that an interest rate rise might be just around the corner. Immediate downside, the first support level is seen at $1232.70 per ounce, while on the upside, the first resistance level is at $1243.10 per ounce.




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Gold prices held back

Precious metals are holding their ground this morning, Wednesday February 22, with gold and silver prices either side of unchanged, with spot gold at $1,235.10 per oz, while palladium is up 0.6% and platinum is up 0.2%. This follows on from Tuesday’s general weakness that saw silver prices fall 0.5%, gold and silver prices closed down 0.2%, although palladium bucked the trend with a 0.6% gain. At one stage on Tuesday the precious metals were all looking decidedly weaker, but worse-than-expected US data prompted a reversal.Base metals prices on the London Metal Exchange are for the most part drifting lower this morning, with prices down an average of 0.5% on volume of 7,725 lots as of 06:54 GMT.Tin is the only metal in positive territory, zinc prices are off the most with a 1.1% decline, copper and nickel prices are off 0.7%, with three-month copper prices at $6,014 per tonne, aluminium prices are down 0.6% and lead is off 0.5%. Today’s weaker tone follows Tuesday’s weakness that saw prices pullback an average of 1.2%, led by a 2.9% drop in nickel prices to $10,835 per tonne.In Shanghai this morning, the base metals on the Shanghai Futures Exchange are weaker across the board with prices down an average of 1.6% – nickel prices lead the decline with a 2.6% drop, followed by a 2.1% drop in aluminium prices. Copper prices are down 0.8% at 48,650 yuan per tonne. Spot copper prices in Changjiang are down 0.7% at 48,450-48,650 yuan per tonne and the LME/Shanghai copper arb ratio is at 8.09.



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Buz Investors FB Stock Higher (NASDAQ:FB) stock is on a roll, and is poised to go higher as the social media company appears to be competing in a space with almost no competition.

Facebook’s Strong Competitive Edge to Push $FB Stock Higher

Facebook Stock to Keep Surging on Weak Competition

Buz Investors FB Stock Higher <span data-recalc-dims=(NASDAQ:FB) stock is on a roll, and is poised to go higher as the social media company appears to be competing in a space with almost no competition." width="300" height="200" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/02/FB-Stock-300x200-Small.jpg?resize=300%2C200 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/02/FB-Stock-300x200-Small.jpg?w=720 720w" sizes="(max-width: 300px) 100vw, 300px" />

Buz Investors FB Stock Higher  (NASDAQ:FB) stock is on a roll, and is poised to go higher as the social media company appears to be competing in a space with almost no competition.

FB stock has already gained 16% year-to-date, as compared to the six-percent gains posted by the S&P 500 index. Facebook stock closed at $133.72 on Tuesday.

While CEO Mark Zuckerberg released his 6,000-word manifesto last week, his company was busy devising ways to trounce its rivals. Facebook has almost 1.9 billion users on its platform, and the company wants more users and more of their attention.



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FB Stock Higher

Meanwhile, Facebook has added the “Status” feature to its other popular property, “WhatsApp.” News came in on Monday that WhatsApp would get a new tool that would let users share videos, photos, and animated GIFs, all of which will disappear after 24 hours.

Similar to “Snapchat Stories” and “Instagram Stories,” WhatsApp’s ephemeral Status posts can be edited with text, emojis, and finger drawings. The users will have the option to send Status postings to all of their contacts or to specific ones. (Source: “WhatsApp Adds Snapchat-Like Story Feature Called Status,” The Wall Street Journal, February 20, 2017.)

Last week, Facebook had also announced its entry into the job recruitment market. The social networking giant said that employers could directly post jobs to their “Page” and users will be able to apply for those jobs on Facebook. The company hopes that the employers and applicants can then continue their communication through “Messenger.” (Source: “Facebook is rolling out job postings and applications,” Recode, February 15, 2017.)

By not charging any fee from employers for job postings, Facebook is setting up a fight with a more established player in the field, LinkedIn Corp (NYSE:LNKD). Recruiters have to pay LinkedIn for posting and promoting jobs on its platform. In the short term, only a certain section of users may use this new Facebook feature but, in the long run, it could turn out to be a serious competitor to LinkedIn.

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GBPUSD Pound Jumps to 1.25, Markets Eye Autumn

$GBPUSD Pound Shrugs off Strong British GDP Report

GBPUSD Pound Shrugs off Strong British GDP Report

Buz Investors Pound Shrugs off Strong British GDP At 10:40 GMT, the pair is trading at 1.2458, with the Pound trading 0.1% lower against US Dollar from the New York close,

GBPUSD

Buz Investors Pound Shrugs off Strong British GDP At 10:40 GMT, the pair is trading at 1.2458, with the Pound trading 0.1% lower against US Dollar from the New York close, after Britain’s GDP expanded less than initially estimated on an annual basis in the fourth quarter of 2016. The pair witnessed a high of 1.2507 and a low of 1.2434 during the session. Yesterday, the Pound traded 0.5% higher against the US Dollar in the New York session and ended at 1.2471. Immediate downside, the first support level is seen at 1.2401, while on the upside, the first resistance level is situated at 1.2511



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Pound Shrugs off Strong British GDP

 Britain’s GDP expanded less than initially estimated on an annual basis in the fourth quarter of 2016

GBP/USD has posted small losses on Wednesday. inside the North American session, the pair is trading at 1.2470. inside the uk, 2nd Estimate GDP advanced to 0.7% in the first sector, edging above the forecast of 0.6%. preliminary business funding disenchanted with a decline of 1.zero%, brief of the forecast of 0.0%. eventually, the Index of offerings published a advantage of 0.eight%, matching the estimate. within the US, existing Housing income jumped to 5.sixty nine million, effortlessly beating the estimate of 5.55 million. Later in the day, the Federal Reserve will post the mins of the January coverage assembly. On Thursday, the united states releases unemployment claims, with an estimate of 242 thousand.

financial institution of england officers have been grilled on Tuesday over the imperative bank’s inflation record. Gertjan Vlieghe, a member of the financial coverage Committee, defended the critical bank, pronouncing that economic fashions can in no way be perfectly accurate. The BoE has are available in for sharp grievance after overestimating the harm to the British economic system after the Brexit vote in June. The financial system has weathered Brexit pretty well, however BoE Governor Mark Carney continues to warn that stormy waters lie ahead as Britain prepares to start negotiations over the phrases of its departure from the eu Union. Inflation has climbed close to the BoE’s target of two.zero%, but Carney has maintained a neutral stance concerning destiny hobby price actions.

The Federal Reserve is again within the spotlight on Wednesday. The important financial institution sooner or later pressed the price trigger in December, a complete yr after the preceding fee hike. final week, Fed Chair Janet Yellen strongly hinted that that every other hike is at the manner, leaving the markets to take a position at the timing of a hike – will or not it’s in March or June?

 



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