According to Reuters, Fonterra The New Zealand dairy company said on Thursday it is likely to pay a higher price to farmers for its milk supply for the next fiscal year, courtesy of a surge in dairy demand and an appreciating US dollar. “The world’s largest dairy exporter expects to pay NZ$8.75-10.25 (US$5.49-6.43) per kilogram […]
Flora
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
Germany: From now on gas is scarce in the country – Robert Habeck
German Economics Minister Robert Habeck declared on Thursday that from now on gas is scarce in the country. Additional comments The current situation should not lull us into a false sense of security. Now we are asked to reduce gas consumption, ahead of winter. He wants to underline that this situation was always a threat. […]
ECB Economic Bulletin: It will ensure that inflation returns to its 2% target in the medium term
In an article of Economic Bulletin published on Thursday, the European Central Bank (ECB) underlines the challenges posed to the economy by rising inflation. Additional comments The governing council will ensure that inflation returns to its 2% target in the medium term. The macroeconomic projections of the Eurosystem experts for the euro area in June […]
US dollar index DXY jumps to daily highs around 104.70, ahead of Powell
The DXY index moves higher after the poor data from the Eurozone PMIs. US yields extend weekly downward correction on Thursday. Today highlights the release of weekly jobless claims, preliminary PMIs and Powell’s testimony. The US dollar index DXYwhich measures the strength of the dollar against a basket of major currencies, brings back the smile […]
UK: Preliminary services PMI stabilizes at 53.4 points in June, vs. 53.0 expected
UK Manufacturing PMI falls to 53.4 in June, missing estimates. UK services PMI stands at 53.4 in June, a positive surprise GBP/USD briefly bounces back to 1.2200 after preliminary UK PMIs. The Purchasing Managers Index UK Manufacturing PMI, seasonally adjusted, has fallen to 53.4 in Junecompared to 53.7 expected and 54.6 in the final reading […]
Germany enters the second phase of the emergency plan for gas – Ministry of Economy
The Ministry of Economy declared on Thursday the second phase of the emergency plan for gas due to the cut off from Russia and high prices. Additional comments The Government will not activate the clause that allows companies to pass on price increases at this time. Security of supply is currently guaranteed, but the situation […]
Eurozone: preliminary manufacturing PMI does not meet estimates and falls to 52.0 points in June
Eurozone Manufacturing PMI comes in at 52.0 points in June vs. 53.9 expected. The bloc services PMI falls to 52.8 in June against 55.5 expected. EUR/USD remains negative near 1.0500 after Eurozone PMIs, which have been bearish. The rate of expansion of the manufacturing sector in the Eurozone disappointed again in Junethe latest S&P Global […]
Forex Today: Recession Fears Weigh on Sentiment, Spotlight on US PMI and Powell Testimony
This is what you need to know to trade today Thursday June 23: Markets remain risk averse on Thursday as investors are increasingly worried about a global recession. US stock index futures and major European equity indices push lower in European morning and the dollar continues to find demand as a safe haven. Later in […]
USD/JPY now eyes a test of 137.50 – UOB
The recovery of USD/JPY could extend to the 137.50 zone in the coming weeks, according to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Featured Comments 24 hour view: “Our expectations that ‘USD/JPY overbought rally will extend’ failed to materialize as it traded between 135.67 and 136.71. The move is seen as […]
Silver Price Analysis: XAG/USD near 1-week lows, looks vulnerable to further decline
The price of silver falls for the second day in a row and again approaches the low of a week. The situation remains favorable to the bears and supports the prospects for further losses. Sustained strength above $22.00 is needed to negate short-term negative outlooks. Silver price is unable to take advantage of the previous […]
