Author: Robert Jessi

Slb CEO Olivier Le Peuch disposes of $275,000 in company shares.

By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) — New Federal Reserve chair Kevin Warsh has brought sharp change in how the central bank communicates by saying much less than his predecessors about the economy and inflation. But so far, many economists and Wall Street investors haven’t been thrilled with that approach. On Friday, Warsh has a high-stakes opportunity to address those concerns and underscore his inflation-fighting bona fides when he gives his speech in Jackson Hole, Wyoming, during the Fed’s annual economic symposium. What many economists and Wall Street analysts are hoping for is a clear signal on how he thinks the…

Iran’s Security Chief Mohsen Rezaei said on Friday that Tehran is preparing a list of its conditions to open the Strait of Hormuz in response to a request by mediators, adding that conditions include ending the war in the region, Reuters reported, citing an interview on Lebanese Hezbollah-affiliated Al Manar TV.Rezaei stated that the “US must first take practical steps to fulfil Iran’s conditions, and then Iran will proceed to open the Strait of Hormuz”, the Iranian state-run IRNA news agency reported.Iranian official warned on Thursday that the country will target US economic interests if the maritime blockade against the…

trades 1.1638 to 1.1650 through the European session, down 0.1% and flat against the Wednesday close, in a market that has stopped trying to go anywhere until Friday morning. The pair pulled back from last week’s high past 1.1700 and this month’s peak at 1.1710, and the failure point is precise: bulls could not find acceptance above the late May highs at 1.1685. That level, and the 78.2% Fibonacci retracement of the May-June selloff at 1.1692, form a $7-pip confluence that has now rejected the pair twice. The three-month high near 1.1697 printed on August 21 and has not been…

Investing.com — The Canadian dollar edged lower against the U.S. dollar on Thursday, with the loonie trading near a one-week low as a firmer greenback kept pressure on the currency ahead of closely watched Federal Reserve commentary. The loonie was last down about 0.06% at C$1.3885 per U.S. dollar, equivalent to roughly 72.02 U.S. cents. USD/CAD opened around C$1.3875 and has traded between C$1.3873 and C$1.3887 so far in the session. The move was modest, with the Canadian currency holding close to the previous session’s levels rather than extending Wednesday’s sharper decline. The loonie fell about 0.4% on Wednesday to…

The start of the trading week has not been particularly favorable for the Canadian dollar. Over the last two trading sessions, USD/CAD has gained more than 0.6% in favor of the U.S. dollar, reflecting …

Canada’s major lenders have navigated a shifting tariff landscape, weak economic growth, and a sluggish recovery in the housing market so far this year, seemingly with ease. Their resilience has driven their shares higher, upping the ante to impress Bay Street with their results. “The biggest risk at a juncture like this isn’t so much what the actual results are because they’re going to be good and they’re going to be record-breaking, but it could be, ‘Has the bar been set too high?’” said Brian Madden, chief investment officer with First Avenue Investment Counsel. His fund owns TD Bank, Royal…

Xos director Michael Richardson sells $22,552 in company stock

USD The dollar topped the G10 leaderboard yesterday after a US data deluge that exceeded expectations. Headline PCE rose to 3.7% YoY, above the 3.6% predicted, with core steady at 3.3%, while the second estimate of Q2 GDP confirmed growth at 1.5% annualised, but with consumer spending revised up to 3.4% and business investment growth of 8.5% pointing to firmer underlying momentum. Combined with haven demand linked to Washington’s “Operation Economic Outcast”, the DXY stands above 99 this morning as trading gets underway. Today brings jobless claims as the Jackson Hole symposium opens, but the main event remains Chair Warsh’s…

Gold is making another run to retest 15-week highs of $4,697 early Thursday. Gold traders are taking advantage of an upbeat mood-led US Dollar (USD) retreat, looking past hot US core Personal Consumption Expenditures (PCE) Price Index data for July.Gold eyes US jobs data and WarshRenewed USD weakness offers the much-needed boost to Gold, following Wednesday’s pullback from near the $4,675 neighbourhood.Fading hopes of an interest rate hike by the US Federal Reserve (Fed) at its September 16.-17 monetary policy decision act as a headwind to any recovery attempts in the Greenback, even though the buck witnessed a temporary rebound following…