DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai’s World Governments Summit. “China’s biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic
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The price of WTI crude oil handed up-and-down session with the price settling at $76.92, up eight cents or 0.10%. The high price reached $77.09. The low price was at $75.54. Crude oil Looking at the daily chart, the 200-day moving averages about $77.36 (greenlining the chart above. That moving average was tested during Friday’s
It might be time for US natural gas producers to turn off the pumps. Henry Hub is trading at $1.74 for March delivery, which is the lowest sine the early months of the pandemic. Excluding covid, you have to go back to 2016 when it only briefly traded below these levels. Worse yet, sub-$2 prices
Oil prices slipped on Monday as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 54 cents, or about 0.7%, at $81.65 a barrel, while U.S. West Texas Intermediate crude futures slipped 32
Japanese Yen stages a broad recovery today, buoyed by notable retreat in European benchmark yields. Meanwhile, Dollar is softening against Yen, yet holding its ground across other major currencies. New Zealand Dollar emerges as the day’s underperformer, yet its losses remain contained within Friday’s range against all counterparts. Sterling and Euro follow closely as the
In this article CVS Follow your favorite stocksCREATE FREE ACCOUNT A CVS location in New York, US, on Thursday, Feb. 9, 2023. Stephanie Keith | Bloomberg | Getty Images CVS Health on Wednesday reported fourth-quarter revenue and adjusted earnings that topped expectations, but the company cut its full-year profit outlook, citing higher medical costs that
Share: Canadian Dollar sees thin gains with support from steady Crude Oil bids. Canada sees a data-light economic calendar this week. Markets kick off the new trading week on a quiet note ahead of key US inflation data. The Canadian Dollar (CAD) found some room on the high side on Monday, drifting into the green
Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023. Kevin Dietsch | Getty Images News | Getty Images DUBAI, United Arab Emirates — The head of the International Monetary Fund warned the Russian economy is still facing significant head winds despite receiving a
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The USDCHF moved higher this week and in the process was able to extend above the January high at 0.87277. Yesterday the high reached 0.87614 before rotating to the downside into the Asian session open. The low price stalled against the old high from January at 0.87277, before moving to the upside and retesting the
EUR/USD daily chart The low last week tested the December low of 1.0723 and buyers held their ground. Since then, price action has been a bit more muted though. The 100-day moving average (red line) has kept a lid on any upside move while the floor remains at the December low. It shows that traders
Gold traded in a range on Monday as the Street awaits key data points including the inflation numbers in the US. Last week, top officials in the Federal Reserve reiterated their stance on interest rate cuts, suggesting that they would need more data before they start the rate-slashing exercise. Taking cues from the global price
Today’s Asian session sees an unusual quietness across the region, with major markets closed for holidays, leading to limited movement among major currency pairs and crosses. New Zealand Dollar is having a slight downtick following RBNZ Governor Adrian Orr’s appearance before a parliamentary committee, where he left market participants parsing for clues on future rate
In this article BABA BABA Follow your favorite stocksCREATE FREE ACCOUNT Alibaba is operating in Suqian City, Jiangsu Province, China, on December 29, 2023. Costfoto | Nurphoto | Getty Images Shares of Alibaba fell Wednesday, as the company missed market expectations for revenue in the December quarter, even as it announced it is increasing the
Share: Last year, central banks purchased a near-record 1,037t of Gold and a record 1,082 tonnes in 2022. After record central bank buying in 2022 and 2023, economists at TD Securities expect continued strong demand from central banks in the years to come. Central banks reigniting Gold bull run Considering that about a quarter of
Federal Chancellor Olaf Scholz (SPD, r-l), Robert Habeck (Alliance 90/The Greens), Federal Minister for Economic Affairs and Climate Protection, and Christian Lindner (FDP), Federal Minister of Finance, follow the debate at the start of the budget week. Michael Kappeler | Picture Alliance | Getty Images Good news has been sparse for the German economy. And
The NZDUSD moved higher today, helped by a report from ANZ that they now expect the RBNZ to hike rates not once but two times: THey said: We now expect the RBNZ to hike the OCR 25bp in Feb and April, taking it to 6%. No one piece of data is to blame but a