Author: Press Room

© Reuters. The Swiss Franc edged lower in the Asian session today, with trading at 0.8830. This movement comes on the heels of the Swiss National Bank’s (SNB) announcement that it has reduced its currency reserves to a seven-year low of CHF 657 billion, down significantly from last year’s peak of CHF 950 billion. The reduction reflects the central bank’s repatriation efforts, which have been closely watched by traders. The broader market is also digesting a mix of economic data from the United States. Yesterday, the US Consumer Sentiment Index provided a positive surprise by registering at 61.3, slightly above…

“I think he needs to do everything he can for the Palestinian people,” Mr. Butterworth said. But, he added: “I’m a fan of Joe Biden, so I don’t mind him coming. I think he’s doing as well as he can with all the resistance he has from Congress and all that.”The Bidens have been visiting Nantucket since 1975, when Mr. Biden, then a first-term senator from Delaware, and Jill, his wife-to-be, spent their first Thanksgiving together there. In his memoir “Promise Me, Dad,” Mr. Biden called it an “act of diplomacy.” The family was fielding multiple invitations and he worried…

Homebuilder stock PulteGroup (NYSE:PHM) has been gapping up the charts this month, after consolidating above the $70 mark through October. Today, the stock hit a fresh record high of $89.16, and there is reason to believe it could extend those highs, if past is precedent. Yesterday, a bull signal sounded for PHM, as its record levels came amid low volatility, which has been a historically bullish combination in the past. Per Schaeffer’s Senior Quantitative Analyst Rocky White, there were eight other signals over the past five years when Pultegroup stock was trading within 2% of its 52-week high, while its…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK must adopt the strategic state-backed approach of the US and European governments in wooing foreign investors, according to a plan accepted by chancellor Jeremy Hunt in his Autumn Statement on Wednesday.Tory peer Lord Richard Harrington, head of a government review into the UK’s approach to attracting foreign investment, said Britain could no longer afford to ignore schemes such as the US’s $2tn Inflation Reduction Act as he laid out a new blueprint for boosting FDI.“I have formed the view during…

© Reuters. FILE PHOTO: A view of the European Central Bank (ECB) headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo A look at the day ahead in European and global markets from Vidya Ranganathan. The minutes of the European Central Bank’s October meeting and flash PMIs for a host of European countries are Thursday’s highlights in markets otherwise lulled by the Thanksgiving holidays in Japan and the United States. The forward-looking flash November PMIs due out globally should help investors assess recession risks and how quickly rate cuts will begin. The euro zone PMI is already below the…

© Reuters. Indian Energy Exchange (IEX) shares experienced a notable uptick today, as investor concerns regarding the implementation of market coupling were alleviated. The stock climbed by 4.7% to ₹150.4 on the National Stock Exchange (NSE), reflecting a positive shift in market sentiment. Market coupling has been a contentious issue since June, when the Power Ministry directed a phased initiation of this mechanism, which aims to unify the Market Clearing Price (MCP) across all power exchanges. The move was anticipated to challenge IEX’s dominance in the Day-Ahead Market (DAM) and Real-Time Market (RTM) segments, potentially reducing its market share significantly.…

© Reuters. The global oil market is facing uncertainty as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) postponed their production-cut meeting to November 30. The decision came early Thursday, pushing West Texas Intermediate (WTI) crude prices down near $76.20, although they slightly recovered to around $77.20 later in the day. This delay has heightened concerns about future crude supplies and market stability, especially in light of the recent Israel-Hamas tensions and a slowdown in demand growth from China. Saudi Arabia has indicated plans to continue with its ongoing production cuts of one million barrels per day.…

Premium Cash Management Fund declares CAD 0.4266 dividend

© Reuters. The currency pair experienced a pullback during Thursday’s Asian trading session as market participants weighed the prospects of a hawkish turn in the Bank of Japan’s (BoJ) policy against a backdrop of uncertainty regarding future Federal Reserve rate hikes. Despite a brief recovery from its monthly low on Tuesday, the pair failed to surpass the previous night’s high due to these speculations. On Wednesday, the Japanese Yen initially weakened, reaching 149.75 against the US Dollar. However, it managed to regain some ground on Thursday. This recovery came despite strong US labor market data and minutes from the Federal…

DeSantis needs to ‘beat Haley big’: Juan Williams Washington Examiner’s Byron York, FOX News senior political analyst Juan Williams, FOX News contributor Mollie Hemingway discuss Israel’s possible hostage deal, the Ukraine War’s fading support in the U.S. and political endorsements.  The head of Republican presidential candidate and Florida Gov. Ron DeSantis’ super PAC has resigned amid internal turmoil within the organization over its strategy moving forward into 2024.Chris Jankowski, a veteran operative in Republican politics, submitted his resignation letter, effective immediately, to the board of Never Back Down on Wednesday.”Never Back Down’s main goal and sole focus has been to…