An office building designed by Frank O. Gehry at the Novartis AG headquarters campus in Basel, Switzerland. Bloomberg | Getty Images Swiss pharmaceutical giant Novartis on Friday reported better-than-expected sales in the fourth quarter, but falling short of its own guidance over the full-year stretch. Fourth-quarter net sales rose 16% on a constant currency basis
Mexican Peso erased gains of 0.61% and turns negatively as Trump’s threat of 25% tariffs would be enacted. The White House denied Reuters’ report about US delaying tariffs implementation to March 1. Mixed US economic indicators and Fed commentary maintain cautious market sentiment. The Mexican Peso (MXN) erases some of its earlier gains and losses
President Trump yesterday announced plans to impose a 25% tariff on Canadian and Mexican imports starting February 1, though he suggested oil imports might be exempt. This announcement caused significant volatility in USDCAD. The pair surged from around 1.4400 to a high of 1.4594, marking new highs since 2020, before retracing below 1.45158, a key
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Gold April futures contracts on MCX witnessed a surge this week amid safe-haven buying due to heightened US tariff concerns, striking a new all-time high of Rs 82,357/10 gram on Friday, opening higher by 0.37% or Rs 306. Meanwhile, silver March futures contracts were trading at Rs 93,686/kg, up by 0.26% or Rs 240, trading
A “mild recession” is on the cards, according to Commerzbank CEO Manfred Knof. Picture Alliance | Picture Alliance | Getty Images Commerzbank on Friday unexpectedly released quarterly results, touting “record” annual profit and announcing a new share buyback scheme. The bank said it achieved a 20% increase in net profit to 2.68 billion euros ($2.78
AUD/USD hovers above 0.6200, defending mild bids amid US tariff concerns and weak Chinese data. US PCE data showed no surprises, Fed remains cautious. RBA dovish bets continue to pressure the pair. The Australian Dollar clings to mild gains on Friday, trading around 0.6215 after briefly touching a two-week low. The pair remains under pressure
The USDCHF experienced a sharp decline on Monday, driven by a stock market tumble led by Nvidia and broad USD selling. The pair on Monday, found support at 0.8965, the 50% retracement level of the December 2024 rally, and rebounded sharply off of that key support hold. Midweek trading was volatile, with the price fluctuating
UPCOMING EVENTS: Monday: BoJ Summary of Opinions, Australia Retail Sales, China Caixin Manufacturing PMI, Switzerland Manufacturing PMI, Eurozone Flash CPI, Canada Manufacturing PMI, US ISM Manufacturing PMI. Tuesday: US Job Openings, New Zealand Employment report. Wednesday: Japan Average Cash Earnings, China Caixin Services PMI, Eurozone PPI, US ADP, Canada Services PMI, US ISM Services PMI.
Gold April futures contracts at MCX opened flat with a negative bias on Saturday at Rs 82,200/10 gram, which is down by 0.04% or Rs 33 while silver March futures contracts were trading slightly higher at Rs 93,453/kg, up by 0.13% or Rs 125. Ahead of the Union Budget 2025, due to be presented later
Dado Ruvic | Reuters Microsoft CEO Satya Nadella commented on its “real innovations.” OpenAI’s Sam Altman described it as “clearly a great model.” Apple CEO Tim Cook said “innovation that drives efficiency is a good thing.” And Palantir’s Alex Karp said it shows the importance of “an all-country effort.” The tech CEOs were all talking
The US Dollar holds ground above 108.00 as traders await weekend tariff announcements. Trump threatens 100% tariffs on BRICS nations if they challenge the US Dollar in global trade. US PCE inflation data shows steady price pressure, reinforcing the Fed’s cautious stance. The US Dollar Index hovers near 108.50, marking a fresh weekly high. The
Canadian Dollar spiked lower after US President Donald Trump confirmed his plan to impose 25% tariffs on imports from Canada and Mexico, set to take effect this Saturday on February 1. Trump justified the decision by citing concerns over migration, drug trafficking, and economic imbalances. However, uncertainty remains regarding whether oil imports will be affected.
Customers waiting at the checkout in a supermarket. Markus Scholz | Picture Alliance | Getty Images German inflation was unchanged year-on-year at 2.8% in January, preliminary data from the country’s statistics office Destatis showed Friday in the last reading before Germans head to the polls next month. The reading was also in line with a
The NZDUSD has broken above the 100 and 200 hour MAs now after the recent Trump headlines on tariffs. That came AFTER I finished this video. Nevertheless, the key technicals remain in play for today with a more bullish bias. Buyers are now more in control above the 200-hour MA at 0.5665 (now support). The
It’s never a dull moment with Trump. Nothing can be done by China, Mexico and Canada right now to forestall tariffs We have big deficits and tariffs are something we’re doing We may increase tariffs Canada has treated the US very unfairly Not looking for concessions Will put tariffs on chips, oil and gas Oil
Oil prices rose in aftermarket trading on Friday as U.S. President Donald Trump said he expects his administration to decrease proposed tariffs on Canadian oil from 25% to 10%, and to impose duties on oil and gas around Feb. 18, later than initially feared. U.S. West Texas Intermediate crude rose 73 cents, or 1%, to
Eaton on Friday delivered mixed fourth-quarter results Friday, but the electrical components and power systems company made clear that its fast-growing data center business isn’t slowing down despite the emergence of Chinese startup DeepSeek and its more efficient AI models. Revenue in the three months ended Dec. 31 increased 4.6% year over year, to $6.24 billion,
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