The CEO of Germany's largest defence contractor Rheinmetall said he expected a further boost to the company's stock market value due to the Ukraine war and increased defence spending in Europe. "A valuation of 17 billion euros is realistic for Rheinmetall over the medium term," he added. Rheinmetall's current stock valuation is about 10.5 billion euros, on 2022 operating income of 754 million euros.
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The Canadian dollar was barely changed against its U.S. counterpart on Friday, holding near a two-month high, as investors continued to bet on another Bank of Canada rate hike despite domestic data showing a surprise jobs decline. "The CAD has extended its strong start to June to retest the low end of its trading range against the USD that has prevailed since late last year," Shaun Osborne, chief currency strategist at Scotiabank, said in a note. On Wednesday, the BoC hiked its benchmark rate by 25 basis points to a 22-year high of 4.75%.
The British pound initially fell early in the week, but found a bit of support near the 1.2350 level to turn around and show signs of life again.
The euro had initially fallen during the trading week but has turned around to bounce toward the 1.08 level, an area that has been important several times.
The British pound has rallied a bit during the trading session on Friday, as we have broken above the 1.2550 level again.
The euro has pulled back a bit on Friday to show signs of hesitation at the top of the consolidation area. This tells me that the market continues to focus on the Federal Reserve and ECB meetings next week.
The US dollar has fallen a bit during the trading week but continues to find buyers on dips against the Japanese yen.
The British pound initially fell during the trading week, showing signs of noise and negativity until we bounced from the ¥172.50 region. At the time of writing, we are threatening the ¥175 level.
The Aussie dollar has had an extremely bullish week due to the surprising rate hike coming out of the RBA.
The US dollar has rallied a bit during the trading session on Friday as we continue to see a lot of noisy behavior. Ultimately, this is a market that is very strong but is currently consolidating in order to build up more pressure.
The British pound rallied again during the trading session on Friday, breaking above the ¥175 level early in the American session.
TORONTO (Reuters) -The Canadian dollar was barely changed against its U.S. counterpart on Friday, holding near a two-month high, as investors continued to bet on another Bank of Canada rate hike despite domestic data showing a surprise jobs decline. The loonie was trading nearly unchanged at 1.3445 to the greenback, or 74.93 U.S. cents, after touching its strongest intraday level since April 14 at 1.3311. "The CAD has extended its strong start to June to retest the low end of its trading range against the USD that has prevailed since late last year," Shaun Osborne, chief currency strategist at Scotiabank, said in a note.
The Australian dollar has rallied during the trading session on Friday as we continue to see more of a “risk on” attitude around the world.
HSBC, Halifax and Nationwide are among banks tweaking rates.
Tesla, Carvana and Vodafone all saw swings in their stock price over the last 24 hours.
Euro zone government bond yields edged lower on Friday but were still at the top end of their recent range as investors braced for a European Central Bank's policy meeting tilted on the hawkish side late next week. Analysts expect the ECB to raise rates by 25 basis points while being careful not to signal a pause in the tightening path. Still, they believe the ECB cannot go too far in raising rates as the economy is weakening, and core inflation might follow suit.
The U.S. dollar edged higher in early European trade Friday, rebounding after the previous session’s sharp losses as traders sought out a safe haven after weak Chinese inflation data. At 02:55 ET (06:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 103.358, having lost more than 0.7% in the previous session, its largest daily decline in weeks.
Investing.com -- Most Asian currencies retreated on Friday as weak Chinese inflation data pushed up concerns over slowing growth in Asia’s largest economy, while the dollar steadied after steep overnight losses as a Federal Reserve meeting loomed.
The US dollar has fallen rather significantly during the trading session on Thursday as we continue to bounce around in the same consolidation area.
The British pound initially tried to rally during the trading session on Thursday, but it looks as if it is stuck in the same region that we have been in for a while.
The British pound continues to build pressure against the Japanese yen, as we are threatening the ¥175 level.
The euro has acted very much like the movie Groundhog Day, where today is the exact same price action as the last several.
The Aussie dollar has rallied again during the trading session on Thursday as we continue to threaten the 0.67 level.
European shares were subdued on Thursday as rate-sensitive technology shares and consumer staples slipped on expectations of further interest rate hikes by major central banks, while a sharp slide in Vodafone shares weighed on the telecoms sector. The pan-European STOXX 600 index was flat, with the rate-sensitive technology sector down 0.3%.