An interesting weekend item from Reuters about oil, but also about circumventing trade payments in the dominant USD – helping Russia to de-dollarise its economy. Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars India’s top bank, the State Bank
The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their biggest gain since July 2022. Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December’s gain of 260,000, according to a Labor Department report Friday. related investing news Boom in January jobs shows
In this article F Follow your favorite stocksCREATE FREE ACCOUNT Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan. Nic Antaya | Getty Images DETROIT – Ford Motor reported an ugly fourth quarter, missing Wall Street’s earnings
Gold prices exhibited extreme volatility in the week ending February 3 as traders had to wade through the deluge of starkly contrasting developments and data that swung the pendulum to extremes before the dust finally settled in favor of bears. Seemingly dovish Federal Reserve, as it failed to sound convincingly hawkish at the FOMC meeting
With the help from strong economic data, Dollar struck back to end as the strongest one, after a week full of heavy weight events. Traders might start to give up on fighting the Fed on the topic of terminal interest rate and the timing of a cut, given the underlying resilience of the economy. At
Strategists at Rabobank point out that the change in the Bank of England’s language favours the doves, they see scope for further rate rises. They continue to expect poor United Kingdom fundamentals to be a drag on the British Pound. Key quotes: “The USD has found further traction on the back of the January
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The major US stock indices are ending lower on the day led by the NASDAQ index with a decline of about -1.6%. However, that comes after some pretty strong gains including a 3.25% gain yesterday. The final numbers are showing: Dow Industrial Average fell -127.93 points or -0.38% at 33926.00 S&P index fell -43.26 points
The US jobs report was – as Fed’s Daly put it – a “wow” number. The Non Farm Payroll increased by a whopping 517K. The prior two months were revised higher by 71K. The combined total of 587K far outpaced the expectations of 185K. Wow is right. The unemployment rate moved down to 3.4% (expected
An employee works at the BMW manufacturing plant in Greer, South Carolina, October 19, 2022. Bob Strong | Reuters A decrease in the unemployment rate of Black women is heartening, but labor experts warn that the trend shouldn’t create any false notions about equity in the workforce. The unemployment rate for the entire Black population
In this article AMZN Follow your favorite stocksCREATE FREE ACCOUNT Amazon on Thursday issued first-quarter guidance that came in light of estimates, overshadowing better-than-expected revenue for the fourth quarter. The stock slid after hours, erasing most its rally from the regular trading day. Here are the key numbers: Earnings: 3 cents per share Revenue: $149.2
Emergent Fidelity Technologies, a Sam Bankman-Fried holding company based in Antigua and Barbuda, has filed for bankruptcy protection. According to court records filed on Feb. 3, Emergent Fidelity Technologies submitted a voluntary petition to declare bankruptcy under a Chapter 11 filing in United States Bankruptcy Court for the District of Delaware. The company was already
Oil prices rose on Friday after strong U.S. jobs data, but were still set for weekly falls as investors sought more clarity on the imminent EU embargo on Russian refined products and more signs of demand recovery in top consumer China. Brent crude futures gained $1.16, or 1.4%, to $83.33 a barrel by 1456 GMT,
Dollar rebounds strongly and broadly in early US session after a set of stellar job data that blows past expectations. Stock futures dive on renewed concern that interest rate will stay high for lower while benchmark treasury yield rebounds. The question now is whether the greenback could overwhelm Yen and Swiss Franc to end the
The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the breadth of services expansion has still slowed. Key quotes: “The slowdown in
> Technical Analysis > The strong US jobs report sent the US dollar sharply higher. What next? Technical Analysis A technical look at the EURUSD, USDJPY, GBPUSD and USDCHF in the morning forex technical report ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT –