In this article UPST In this photo illustration an Upstart Holdings logo is seen on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images Shares of Upstart plummeted about 55% premarket Tuesday after the artificial intelligence lending platform cut its full-year revenue outlook, citing rising interest rates and an uncertain economy.
Month: May 2022
Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that once the Fed has gotten interest rates back to neutral, it can then decide whether it needs to put brakes on the economy (i.e. by further lifting interest rates into restrictive territory), depending on the level of inflation, reported Reuters. The Fed’s policy path
It’s a brutal backdrop in markets with stocks down 5 weeks including nearly 20% drop in the Nasdaq. Yet when you look at a chart like this, it looks like it could get much worse. USD/CAD has been consolidating in the 1.23-1.29 range since August but may be breaking out to the upside today. It
National Australia Bank Business Survey for April 2022 Business confidence: 10 Business conditions 20 (up well from March. Conditions is a more objective measure than the sentiment-based confidence) Some of the sub-measures sales +4 to a very high +27 profitability +10 points to +22 employment index steady at +10 NAB comments: “Pleasingly, the improvement was
NEW DELHI: Gold prices dropped marginally on Monday as a strong dollar dented the demand for the yellow metal. The rise in Treasury yields also hit sentiments. The dollar firmed to 20-year highs against its rivals, making greenback-priced bullion less attractive for other currency holders, whereas the Indian currency hit a new lifetime low at
Markets open the week with risk-off sentiment, in particular in Japan. Australian and New Zealand Dollar are trading broadly lower as a result. On the other hand, Dollar is rising broadly. European majors are mixed together with Yen and Canadian. Technically, however, bother EUR/USD and USD/JPY are still bounded in established range even though Dollar
A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022. David Paul Morris | Bloomberg | Getty Images Consumers grew a little more optimistic about inflation in April, though they still expect to be spending considerably more in the year ahead, a Federal Reserve survey released Monday shows. Inflation expectations
EUR/USD remains indecisive after testing the bears of late. Mixed concerns, pullback in US Treasury yields and the DXY keep traders on their toes. Germany’s ZEW Sentiment data for May, central bankers’ comments can offer immediate directions. Wednesday’s key US inflation, speech from ECB’s Lagarde could infuse volatility. EUR/USD stays defensive around mid-1.0500s as global
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Bitstamp, one of the oldest crypto exchanges in the world, has announced the appointment of Jean-Baptiste (JB) Graftieaux as its new global CEO following the departure of Julian Sawyer. In a Monday announcement, Bitstamp said Sawyer, who first became CEO of the crypto exchange in October 2020, “has decided to pursue other opportunities.” Graftieaux took
USDCHF tested that the March 2020 high this week The USDCHF is working on its 2nd down day in 3 days. That comes after 9 straight days to the upside. The pair moved sharply lower on Wednesday on dollar selling after the FOMC rate decision and Powell’s comments that a 75 basis point hike was
Markets don’t bottom on Fridays. That’s what we’re seeing today with the S&P 500 opening down 60 points to 4058, a 1.6% drop after five consecutive weeks of losses. I’m noticing the tone around risk assets is deteriorating. The talk in the market shows that the bulls have been vanquished. There’s a realization that it
New Delhi: Gold prices have been on a downtrend as rising interest rates are pushing the bond yields higher, diminishing the appeal of the yellow metal. After hitting a peak of Rs 53,600 on April 18, the yellow metal has dropped about Rs 2,000 per 10 grams in the domestic market. However, gold has not
Risk aversion is the theme of the day, with major European indexes trading in red, while US futures are also diving. Australian Dollar is leading other commodity currencies lower. While Dollar is firm, it’s losing some momentum entering into US session. In particular, the greenback is retreating after failing to break through a near term
In this article RUN Sunrun employee Gonzalo Najera carries a solar panel before installation at a home in Alamo, Calif., May 17, 2021. Scott Strazzante | San Francisco Chronicle | Hearst Newspapers | Getty Images Sunrun shares jumped 11% during extended trading Wednesday after the company posted first-quarter earnings results, including a 39% increase in
USD/CAD shot to a fresh YTD high on Monday, albeit struggled to capitalize on the move. Last week’s breakout through a descending trend-line supports prospects for further gains. Any meaningful pullback could still be seen as a buying opportunity and remain limited. The USD/CAD pair gained positive traction for the third successive session and climbed
Brief remarks via Kiwi Bank in New Zealand on the New Zealand dollar wee ahead: We see the NZD supported on the downside to 0.6250 now, with lower levels from there requiring a break of the key 0.6238 technical level. While we have some support at 0.6400 with 0.6370 as the first level of downside
Labour total cash earnings +1.2% y/y expected -0.3%, prior +1.2% Adjusting for inflation gives ‘real’ wages, which dropped 0.2%. This is the first fall for real wages in 3 months. USD/JPY not doing a lot in response to the data. Japanese data rarely shoves the forex around much upon release: USD/JPY 15 minute candles: ADVERTISEMENT
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