Yousef Gamal El-Din | CNBC Egypt’s pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency. The steps were meant to facilitate an agreement with the International Monetary Fund, which is expected to confirm the extension of its current $3 billion
In this article FL Follow your favorite stocksCREATE FREE ACCOUNT The Foot Locker logo is displayed in a store on May 19, 2023 in San Francisco, California. Justin Sullivan | Getty Images Shares of Foot Locker fell in premarket trading Wednesday after the sneaker retailer reported a holiday-quarter loss, issued weak guidance for the current
Share: Australia’s trade surplus widened to 11,027M MoM in February versus 11,500M expected and 10,743M in the previous reading, according to the latest Aussie foreign trade data published by the Australian Bureau of Statistics on Thursday. Further details reveal that Australia’s December Goods/Services Exports reprint 1.6% figures on a monthly basis versus 1.8% prior. The
Bringing you a new analysis of NVIDIA’s (NVDA) impressive journey and what the future holds for this tech giant. 📈 Someone curious in one of our groups asked about NVDA’s direction, sparking me to share insights using what I call the “Levitan Method”. Back when NVDA was at $122 to its low on $108 ,
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices slipped on Wednesday amid profit booking after hitting their lifetime high in the previous session in the international and domestic markets. In the early trade, MCX gold fell Rs 460/10 grams after scaling a new peak of Rs 65,140 per 10 grams in a back-to-back rally. Taking cues from the international prices, MCX
Dollar faced some selling pressure overnight, as dragged down by the sharp decline in the 10-year treasury yield. Despite this, the impact on the greenback was relatively contained, thanks to significant pullbacks in major stock indices, which provided a cushion against more substantial losses. Today’s spotlight turns to Fed Chair Jerome Powell’s semiannual testimony, an
People work at a restaurant at Chelsea Market in Manhattan on February 02, 2024 in New York City. Spencer Platt | Getty Images Private sector job growth improved during February though growth was slightly less than expected, payrolls processing firm ADP reported Wednesday. Companies added 140,000 positions for the month, an increase from the upwardly
In this article ANF Follow your favorite stocksCREATE FREE ACCOUNT An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21. Stephanie Keith | Bloomberg | Getty Images Abercrombie & Fitch said Wednesday that its holiday-quarter sales jumped 21%
Share: The US Dollar trades softer across the board on Wednesday. US Federal Reserve Chairman Jerome Powell is heading to Capitol Hill for his semi-annual testimony. The US Dollar Index snaps an important support, looking bleak ahead of the ECB decision and NFP data. The US Dollar (USD) is facing some firm selling pressure on
The USDJPY pair experienced a downturn, signaling a shift towards a bearish momentum in today’s trading session. Despite this decline, the currency pair found some support at a critical swing area near 149.70, which prevented further losses and led to a modest bounce. This level has proven to be a pivotal point for the pair,
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices surged to their lifetime highs amid a higher probability of the US Federal Reserve starting to cut interest rates from June, while geopolitical concerns supported the gains. On the MCX, the April futures of gold jumped more than ₹800 per 10 grams to cross the ₹65,000 mark on Tuesday. Prices were higher for
Market sentiment was clearly mixed in Asian session today, highlighted by Nikkei’s remarkable resilience and Hong Kong’s stocks’ downturn. The day commenced with Nikkei momentarily succumbing to profit taking pressure, dropping below 40k mark after Tokyo’s CPI was reported to have risen to 2.5%. This initial dip, however, was short-lived as the index swiftly recaptured
In this article CRWD Follow your favorite stocksCREATE FREE ACCOUNT George Kurtz, co-founder and CEO of CrowdStrike, speaks at the Wall Street Journal D.Live global technology conference in Laguna Beach, California, on Oct. 17, 2017. Patrick T. Fallon | Bloomberg | Getty Images CrowdStrike shares surged as much as 17% in after-hours trading Tuesday, after
Share: Australia’s Gross Domestic Product (GDP) grew 0.2% in the fourth quarter of 2023 compared with the 0.3% growth in Q3, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.3%. The annual fourth-quarter GDP expanded by 1.5%, compared with the 2.1% growth in Q3 while beating estimates of a
The strongest to the weakest of the major currencies As the North American session begins, the JPY is the strongest and the AUD is the weakest. The USD is mostly higher but with relatively modest gains. In Europe, PMI services data was released with mixed results. Below are the summary of that data: Spanish Services
ISM services The theme so far in 2024 has been the dominance of economic data. Each release re-calibrates Fed expectations and all the market pricing that’s built around it. A great example was on Friday when a series of soft second-tier data led to a slump in the US dollar and declining Treasury yields. Rates