• AUD/USD Price Forecast – Australian Dollar Gets Hammered After Employment Figures Miss
    FX Empire

    AUD/USD Price Forecast – Australian Dollar Gets Hammered After Employment Figures Miss

    The Australian dollar got absolutely hammered during the trading session on Thursday as employment figures in Australia missed horribly. In fact, while initially expected to be a reading of 16,000 jobs added, the figure actually came in at -19,000.

  • Schwab Boosts New Trading Accounts 31% After Fees Go to Zero
    Bloomberg

    Schwab Boosts New Trading Accounts 31% After Fees Go to Zero

    (Bloomberg) -- Charles Schwab Corp.’s free trading offer is turning out to be a hit, drawing in new customers at a fast clip.Clients opened 142,000 new trading accounts in October, a 31% jump over September’s pace , according to a report Thursday before markets opened. Total brokerage accounts climbed to 12.2 million and firmwide assets grew to a record $3.85 trillion.Schwab escalated the brokerage industry’s price war on Oct. 1 when it eliminated commissions on U.S. stocks, mutual funds, exchange-traded funds and some options. The move is likely to hit revenue but is aimed at wooing new assets to the San Francisco-based firm, which has been generating most of its income from interest earned on client cash holdings.Average interest-earning assets were $266 billion in October, little changed from September and up about 1% from a year earlier. The gain in brokerage accounts is just 7% more than October 2018.Other brokerages that cut commissions have reported divergent trends in October client activity:E*Trade Financial Corp., which announced zero commission trades shortly after Schwab, posted 9% month-over-month and year-over-year jumps in daily average revenue trades, or DARTs, a key measure of customer activity.TD Ameritrade Holding Corp.said DARTs were 11% higher in October than September but down 8% from a year earlier.Interactive Brokerage Group Inc., which announced commission-free stock and ETF trading in September, said DARTs dropped 5% month-over-month and 19% year-over-year.A more detailed picture of the bottom-line impact of the fee change will be available in January, when Schwab reports fourth-quarter results.(Adds interest earning assetsd in fourth paragraph.)To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Josh Friedman, Alan MirabellaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Should Value Investors Pick Regions Financial (RF) Stock?
    Zacks

    Should Value Investors Pick Regions Financial (RF) Stock?

    Is Regions Financial (RF) a great pick from the value investor's perspective right now? Read on to know more.

  • Fulton Financial Completes Buyout of APS Wealth Management
    Zacks

    Fulton Financial Completes Buyout of APS Wealth Management

    Fulton Financial's (FULT) bank subsidiary acquires APS Wealth Management.

  • Why Bank ETFs May Soar in 2020
    Zacks

    Why Bank ETFs May Soar in 2020

    Rising deposits, solid dividend payments, solid GDP growth and compelling valuations can fuel bank ETFs in 2020.

  • AUD/USD Long-term Downtrend Continues After Completing WXY Correction
    FX Empire

    AUD/USD Long-term Downtrend Continues After Completing WXY Correction

    The AUD/USD is breaking the support trend lines (dotted blue), which could indicate the completion of the wave 4 (purple) and the start of a downtrend.

  • Investing.com

    Forex- U.S. Dollar Flat as Weekly Jobless Claims Rise to Five-Month High

    Investing.com - The U.S. dollar was unmoved on Thursday as the number of Americans applying for unemployment benefits rose to an unexpected five-month high and there were no new comments on monetary policy from Federal Reserve Chair Jerome Powell.

  • AUD/USD, NZD/USD, USD/CNY – Aussie Slips, NZ Dollar and Yuan Remain Steady
    FX Empire

    AUD/USD, NZD/USD, USD/CNY – Aussie Slips, NZ Dollar and Yuan Remain Steady

    The Australian dollar has lost ground after disappointing employment numbers. The New Zealand dollar and Chinese yuan are showing limited movement.

  • AUD/USD Forex Technical Analysis – Chance of Dec Rate Cut at 24% as Aussie Tests Retracement Zone at .6800 to .6770
    FX Empire

    AUD/USD Forex Technical Analysis – Chance of Dec Rate Cut at 24% as Aussie Tests Retracement Zone at .6800 to .6770

    Based on the early price action and the current price at .6795, the direction of the AUD/USD the rest of the session on Thursday will be determined by trader reaction to the main 50% level at .6800.

  • AUD/USD and NZD/USD Fundamental Daily Forecast – Lower After Aussie New Jobs Plunge, Weak China Factory Data
    FX Empire

    AUD/USD and NZD/USD Fundamental Daily Forecast – Lower After Aussie New Jobs Plunge, Weak China Factory Data

    The selling pressure on the Aussie and Kiwi is likely to continue on Thursday unless there is a positive development over the trade deal. Even if that is the case, the move is likely to be fueled by short-covering rather than new buying.

  • Stats Sink the Aussie as Focus Shifts to the EUR and the Pound
    FX Empire

    Stats Sink the Aussie as Focus Shifts to the EUR and the Pound

    Particularly weak economic data weighed on the risk appetite early on, with a busy day of stats likely to test the markets further in the day.

  • Investing.com

    U.S. Dollar Inches Up After Powell Comments; Asian Data in Focus

    Investing.com - The U.S. dollar inched up on Thursday in Asia following prepared remarks from Federal Reserve Chairman Jerome Powell. The Australian dollar dropped after the release of weak employment reports.

  • AUD/USD Price Forecast – Australian Dollar Testing Major Moving Average
    FX Empire

    AUD/USD Price Forecast – Australian Dollar Testing Major Moving Average

    The Australian dollar has initially tried to rally during the trading session on Wednesday, but rolled over significantly, reaching towards the 0.68 level. Beyond that, there is also a major technical indicator right there.

  • U.S. Core Inflation Unexpectedly Decelerates as Rents Cool
    Bloomberg

    U.S. Core Inflation Unexpectedly Decelerates as Rents Cool

    (Bloomberg) -- A key measure of U.S. consumer prices unexpectedly cooled in October despite fresh tariffs on Chinese goods, a sign price gains may be slow to reach the Federal Reserve’s target even after interest-rate cuts this year.The core consumer price index, which excludes volatile food and energy costs, rose 2.3% from a year earlier, a Labor Department report showed Wednesday. That missed economist estimates, while the broader CPI climbed 0.4% and 1.8% annually, with both readings topping forecasts. The core measure was up 0.2% on the month, matching projections.“Inflation pressures remain fairly muted, and it’s certainly not going to be on the top of the Fed’s radar screen any time soon,” said Richard Moody, chief economist at Regions Financial Corp. “The broader story hasn’t changed.”The subdued annual core reading, driven by a deceleration in rents and falling apparel prices, follows a third-straight Fed rate cut last month and signals that policy makers face a longer wait to see whether easing since July is spurring faster price gains. Low unemployment and tariffs on Chinese goods may support inflation, though Chinese and American negotiators are moving toward a deal to roll back levies.President Donald Trump on Sept. 1 added tariffs on $112 billion of Chinese goods, on top of other levies already in effect. He said Tuesday that a deal is close, but the U.S. will “substantially” increase tariffs on China if the first step of a broader agreement isn’t reached.The Labor Department’s CPI tends to run higher than the Commerce Department’s personal consumption expenditures price index, which the Fed officially targets. The core PCE index that policy makers watch for a better read on underlying price trends has shown signs of firming in recent months, though September’s annual gain of 1.7% was below the 2% objective.Fed Chairman Jerome Powell said in congressional testimony Wednesday that inflation returning to near the central bank’s 2% objective is likely, though he added that persistently low readings could lead to an “unwelcome” slide in the public’s longer-run expectations for price gains. Gauges of investors’ and consumers’ inflation expectations remain near historical lows.Read more: Powell Says Policy Appropriate Amid Noteworthy Risks to OutlookThe measure for rent of primary residence rose 0.1% from a month earlier, the smallest gain since April 2011, Labor figures showed. The broader measure of shelter costs, which make up about a third of total CPI, also climbed 0.1% as prices for hotels and motels, which can be volatile, dropped by a record 4.4%.Elsewhere, apparel prices fell 1.8% on the month, the most since March. New vehicle prices fell for a fourth month, while used-car prices rose 1.3% after a 1.6% decline in the prior month.Energy prices climbed 2.7% from the prior month, the most since April. Food costs rose 0.2%, the most since May, while expenses for medical care climbed 1% for the steepest increase in three years.A separate Labor Department report Wednesday showed average hourly earnings, adjusted for price changes, fell 0.2% in October from a year earlier after no change in September. Higher inflation tends to erode wage gains.(Updates with economist comment in third paragraph, Powell testimony in seventh paragraph.)\--With assistance from Chris Middleton, Sophie Caronello and Reade Pickert.To contact the reporter on this story: Jeff Kearns in Washington at jkearns3@bloomberg.netTo contact the editor responsible for this story: Scott Lanman at slanman@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is IBERIABANK (IBKC) a Profitable Pick for Value Investors?
    Zacks

    Is IBERIABANK (IBKC) a Profitable Pick for Value Investors?

    IBERIABANK (IBKC) stock may be a good choice for value-oriented investors right now from multiple angles.

  • E*TRADE (ETFC) Reports 9% Sequential Growth in October DARTs
    Zacks

    E*TRADE (ETFC) Reports 9% Sequential Growth in October DARTs

    Rise in Daily Average Revenue Trades is likely to support E*TRADE's (ETFC) financials going forward.

  • LPL Financial (LPLA) October Brokerage & Advisory Assets Up
    Zacks

    LPL Financial (LPLA) October Brokerage & Advisory Assets Up

    Steadily rising brokerage and advisory assets will support LPL Financial's (LPLA) top-line growth in the quarters ahead.

  • AUD/USD, NZD/USD, USD/CNY – Kiwi Soars on RBNZ Shocker
    FX Empire

    AUD/USD, NZD/USD, USD/CNY – Kiwi Soars on RBNZ Shocker

    It is the New Zealand dollar’s day to shine. The currency is up over 1.0%, after the RBNZ did not cut rates, as expected. The Australian dollar and Chinese yuan are steady.

  • AUD/USD and NZD/USD Fundamental Daily Forecast – Kiwi Shorts Forced to Cover After RBNZ Holds Rates Steady
    FX Empire

    AUD/USD and NZD/USD Fundamental Daily Forecast – Kiwi Shorts Forced to Cover After RBNZ Holds Rates Steady

    The RBNZ said that while inflation remained below the 2 percent target mid-point, economic developments since August did not warrant a change to “the already stimulatory monetary setting at this time”.

  • AUD/USD Forex Technical Analysis – Close Over .6841 Forms Closing Price Reversal Bottom
    FX Empire

    AUD/USD Forex Technical Analysis – Close Over .6841 Forms Closing Price Reversal Bottom

    Based on the early price action, the direction of the AUD/USD on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at .6840. Nine days down puts AUD/USD in window of time for closing price reversal bottom. Watch trader reaction to Tuesday’s close at .6841.

  • UK and U.S Inflation and FED Chair Powell Put the GBP and USD in Focus
    FX Empire

    UK and U.S Inflation and FED Chair Powell Put the GBP and USD in Focus

    The RBNZ held rates steady, leading to a surge in the Kiwi, while the Greenback was under early pressure following Trump’s Tuesday speech…

  • Investing.com

    Kiwi Jumps More Than 1% Against Dollar as RBNZ Unexpectedly Holds Rates

    Investing.com - The New Zealand dollar gained more than 1% on Wednesday in Asia after the country’s central bank unexpectedly left interest rates unchanged.

  • Charles Schwab Joins Chorus of Billionaires Opposing Wealth Tax
    Bloomberg

    Charles Schwab Joins Chorus of Billionaires Opposing Wealth Tax

    (Bloomberg) -- Charles Schwab, founder of the giant discount brokerage firm, is joining other finance billionaires in opposing the wealth tax backed by presidential candidate Elizabeth Warren.“It’s sort of wrong-directed in many ways,” Schwab said Tuesday for a future episode of “The David Rubenstein Show: Peer-to-Peer Conversations” on Bloomberg TV. “I came from really nothing and had plenty of incentive to create what we’ve created.”Schwab echoed comments by hedge fund billionaire Leon Cooperman in arguing that tax-the-rich proponents underplay the charitable contributions the wealthy already make to society through philanthropy.Schwab, 82, who founded San Francisco-based Charles Schwab Corp. in the 1970s, said he and his wife have backed causes including the arts and Alzheimer’s research for decades.In other comments:Schwab said his company’s recent move to make online trading in stocks, exchange-traded funds and options free will only cost about 4% of revenue, as it’s more focused on broader services such as financial advice.Schwab didn’t have any stock tips for Rubenstein, the co-founder of Carlyle Group LP. “I know Carlyle a lot and you’ve done a fantastic job. How about an index fund?”To contact the reporter on this story: Josh Friedman in Los Angeles at jfriedman25@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Alan MirabellaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • AUD/USD Price Forecast – Australian Dollar Bounces From Support
    FX Empire

    AUD/USD Price Forecast – Australian Dollar Bounces From Support

    The Australian dollar went back and forth during the trading session on Tuesday, as we have reach down towards the 50 day EMA but then bounced a bit. Ultimately, this is a market that looks as if it is trying to catch its footing.