EURCAD daily Goldman Sachs maintains its recommendation for a short position in EUR/CAD with a target of 1.42 and a stop at 1.50. The rationale behind this trade is largely based on the resilience of the U.S. economy and the potential for upside in the Bank of Canada’s monetary policy. Key Points: Strategic Focus: Goldman
Month: September 2023
Enrique Lores, CEO, HP Scott Mlyn | CNBC Shares of HP fell more than 8% Wednesday morning after the printer and PC-maker released fiscal third quarter earnings that underwhelmed Wall Street. HP reported $13.2 billion in revenue, down from the $13.37 billion expected by analysts, according to Refinitiv. Earnings per share came in line with
Streaming video is one of the fastest-growing markets in the world, with the OTT video industry alone projected to reach $200 billion in 2023. Short for “over-the-top” video, the OTT video ecosystem includes on-demand video as well as ad-supported video content, and it is mainly driven by the growth of established Web2 streaming platforms, including
Share: AUD/USD retreated below the 20-day SMA towards 0.6450. The August NFP report from the US sent mixed signals from the US labour market. The Greenback benefited from higher-than-expected ISM PMIs. In Friday’s session, the USD initially dropped and found support at the 20-day Simple Moving Average (SMA) of 103.30 but then managed to recover
US: The Fed hiked by 25 bps as expected and kept everything unchanged. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M figures coming in at 0.16%. The US PMIs missed expectations across
Spot gold closed almost flat at $1,940 on Friday as US treasuries fell, despite a weak monthly US job report. The surge in yields on Friday boosted the US dollar index, thus mitigating the impact of a weak job report. However, the yellow metal was up nearly 1.37% for the week as yields were lower
SPX weekly chart Closing changes: S&P 500 +0.2% DJIA +0.3% Nasdaq Comp flat Russell 2000 +1.0% Toronto TSX Comp +1.2% Weekly: S&P 500 +2.5% DJIA +1.4% Nasdaq Comp +3.2% Russell 2000 +3.6% Toronto TSX Comp +3.5% There were some larger divergences with energy leading the way today behind a 2.0% rise in the XLE ETF.
In a week marked by high volatility, Dollar proved resilient, closing within its established range against other major currencies after intra-week selloff. This performance quells, at least for now, fears of bearish reversal for the greenback. Indeed, sentiment has shifted to favor near-term upside for Dollar, which is likely to maintain its strength at least
The August jobs report was another sign that the U.S. labor market is cooling off, though some of the sectors that have fueled the post-pandemic rebound remain strong. The U.S. Department of Labor said Friday that the economy added 187,000 jobs in August even as the unemployment rate ticked up to 3.8%. Payrolls growth was
In this article CRM Follow your favorite stocksCREATE FREE ACCOUNT Salesforce CEO Marc Benioff walks with other attendees as they leave a morning session at the Allen & Company Sun Valley Conference in Sun Valley, Idaho, on July 12, 2023. Kevin Dietsch | Getty Images News | Getty Images Salesforce shares jumped 6% in extended
Share: Nonfarm Payrolls for August provided data showing Fed may not require more hikes. NVDA stock has been forming Japanese candlestick doji patterns late this week that demonstrate uncertainty among bulls. Intel’s Gaudi 2 chip is being called a competitor to Nvidia’s H100. Samsung signs deal to begin supply high bandwidth memory chips to Nvidia.
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M figures coming in at 0.16%. The US PMIs missed expectations across the board last week. Fed Chair Powell’s speech at the Jackson
Gold prices fell Rs 100 to Rs 60,150 per 10 grams in the national capital on Friday amid weak trends in global markets, according to HDFC Securities. The precious metal had settled at Rs 60,250 per 10 grams in the previous trade. Silver also plunged Rs 400 to Rs 77,100 per kg. Gold prices retreated
Markets: Gold flat at $1940 US 10-year yields up 8.8 bps to 4.18% WTI crude oil up $2.25 to $85.88 S&P 500 up 0.1% USD leads, CAD lags The initial market reaction to the non-farm payrolls report was about what you would expect — USD selling, bonds bid — but then it got complicated. The
Forex markets are showing unremarkable activity in today’s Asian session, with major currency pairs and crosses largely contained within yesterday’s trading range. The mood this week has been one of indecision, with sporadic movements failing to evolve into sustained trends. Despite China’s intervention to bolster Yuan, the impact was fleeting. Similarly, stronger-than-expected manufacturing data seemed
Pixelseffect | E+ | Getty Images The unemployment rate for Black workers slipped in August, bucking the broader trend of a higher overall jobless rate. The overall unemployment rate ticked up to 3.8% last month, the highest since February 2022. It came as the labor force participation rate – a measure of the number of
“Buy-now, pay-later” firm Klarna aims to return to profit by summer 2023. Jakub Porzycki | NurPhoto | Getty Images Swedish buy now, pay later firm Klarna reduced its losses by roughly 67% in the first half of 2023, as the company dramatically cut costs in a bid toward profitability. The company reported overall net operating
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