Today’s currency market sees Euro gaining some traction, especially against Japanese Yen, which is underperforming alongside Australian Dollar. Despite RBA’s hinting at a potential rate hike, Aussie is struggling, not only against major currencies but also against its commodity-linked counterparts. British Pound, too, is lagging behind despite UK reporting GDP figures marginally above expectations. Dollar
BEIJING, CHINA – DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images) Vcg | Visual China Group | Getty Images China’s largest chipmaker SMIC on Thursday posted a 80% drop in third-quarter profit as
The Federal Government of Nigeria, through the Ministry of Communications, Innovation and Digital Economy, has entered into a partnership with a UK-based computing education charity, Raspberry Pi Foundation, to launch Code Clubs across Nigeria. The initiative is crafted for students aged 7 to 17, and the Code Clubs represent a series of extracurricular artificial intelligence
Share: Gold price trades with a mild negative bias through the first half of the European session. Reviving Fed rate hike bets underpin the USD and weigh on the non-yielding yellow metal. Receding safe-haven demand contributes to the offered tone, though China’s economic woes may mitigate its losses. Gold price (XAU/USD) posted modest recovery gains
US The Fed left interest rates unchanged as expected with basically no change to the statement. Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt. The recent US Core PCE came in line with expectations. The labour market is starting to
Oil set for third weekly decline as Middle East conflict concerns ebb FULL STORY Oil prices were up slightly on Friday but are set to fall for a third week as concerns of supply disruptions from the Israel-Hamas conflict have ebbed, allowing demand worries to reassert themselves. “The threat of disruptions to supplies from the
Dhanteras: Here’s a look at how precious gold shined in the long-term! – The Economic Times Video | ET Now ET Now | 10 Nov 2023, 10:45 AM IST Embed <iframe mozallowfullscreen=”true” webkitallowfullscreen=”true” allowfullscreen=”true” width=”560″ height=”420″ frameborder=”0″ src=”/videodash.cms?autostart=1&msid=105112937&tpname=embed_video&rlvideo=1808152121″></iframe> As consumers gear-up for Dhanteras, here’s a look at how the precious gold shined in the long-term!
In today’s currency markets, Australian Dollar is notably weaker across the board, a development that comes as a surprise considering the hawkish tone of the latest RBA Statement on Monetary Policy. The statement, which leaned towards the possibility of another rate hike, seemed insufficient to bolster the Aussie. Factors such as global risk aversion and
Jeff Green, CEO, The Trade Desk Scott Mlyn | CNBC The Trade Desk shares plunged about 30% in after-hours trading on Thursday after the ad-tech company issued fourth-quarter revenue guidance that fell well short of analysts’ estimates. Third-quarter results topped estimates. Here’s how the company did: Earnings per share: 33 cents, adjusted vs. 29 cents expected
Blackrock’s plans for a spot Ethereum exchange-traded fund (ETF) has now been confirmed, per a 19b-4 form filing submitted to the United States Securities and Exhange Commission on Nov. 9. Nasdaq filed the 19b-4 form to securities regulator on behalf of the $9 trillion asset management firm for a proposed ETF called the “iShares Ethereum
Share: During the Asian session, the Reserve Bank of Australia will publish its Monetary Policy Statement following Tuesday’s rate hike. The New Zealand BusinessNZ Manufacturing Index is due. Later in the day, the focus will shift to UK growth data and the University of Michigan Consumer Sentiment survey. Here is what you need to know
NASDAQ index is a back below its 100 day moving average The NASDAQ index has moved back below its 100-day moving average at 13615.60. That index moved above its 100-day moving average on Tuesday and closed above it for 2 consecutive days. Those 2 days were one day longer than the October break which had
The FT reports that the Industrial and Commercial Bank of China was hit by a ransomware attack that may have disrupted the US Treasury market. The report says ICBC was prevented from settling bond trades on behalf of others. It’s a worrisome attack at China’s largest bank, though reports say that it’s starting to restore
The Brent crude oil benchmark hovered above $80 a barrel on Thursday, with demand concerns and a waning war-risk premium having triggered a selloff over the past week. Brent crude futures were up $1, or about 1.3%, at $80.54 a barrel by 1445 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.01, also about
As US session unfolds, the Dollar is showing signs of rally, buoyed by recovery in benchmark treasury yield. This modest uplift comes despite a general lack of direction owing to a sluggish risk sentiment across markets. Euro is losing momentum as its earlier recovery falters, whereas other European majors are also on the back foot.
SoftBank Founder Masayoshi Son is pictured here in 2019 during an earnings presentation. Tomohiro Ohsumi | Getty Images SoftBank posted an investment gain on its Vision Fund in the fiscal second quarter but booked another quarterly loss. SoftBank’s flagship tech investment arm had a rough time in the fiscal year that ended in March this
Share: Further decline looks on the cards for USD/CNH once sellers break below the 7.2700 level, argue Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group. Key Quotes 24-hour view: We highlighted yesterday that “there is a chance for USD to test 7.2700.” We also highlighted that “a sustained drop below
USDJPY moves above 151.00 In an earlier post, I spoke to the sellers near the 151.00 level. That level corresponded with the price just prior to the FOMC rate decision last Wednesday. The price trended down reaching a low on Friday at 149.180. The inability to get above the 151.00 level opened the door for