In this article MSFT Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft shares slid more than 3% on Thursday after the company lowered its fiscal fourth-quarter guidance, citing unfavorable foreign
The Chinese yuan depreciated slightly against a weaker US dollar in May. The USD/CNY pair is set to trade within a 6.50-6.90 range in the short-term, economists at MUFG Bank report. USD/CNY likely remain volatile “We shall see a sequential negative GDP growth in Q2. We expect a sustained but gradual recovery in Q3 and Q4.
EURUSD bounces ahead of the 38.2% retracement The EURUSD move sharply lower on the back of the run into the USD after stronger data today. The price moved down to and through recent swing lows at 1.06787, 1.0661 and the swing area between 1.0633 to 1.0641. What was not reached was the 38.2% of the
This ties back to the earlier headline here, which suggests that Saudi Arabia and UAE are ready to step up to cover for Russia’s shortfall amid ongoing sanctions. If Russia is on board, that may very well finally see a significant change in stance by OPEC+ for the first time in a while now. The
Gold prices retreated further on Thursday as the greenback strengthened, denting bullion’s demand among investors. However, lower treasury yields capped losses. Benchmark US 10-year Treasury yields dipped, buoying the appeal of zero-yield gold. However, the dollar steadied after hitting a more than one-week peak on Wednesday, making bullion less attractive for overseas buyers. Gold futures
Yen’s selloff continued overnight together with strong rebound in US 10-year yield. The Japanese currency remains pressured in Asian session and remains vulnerable. At the same time, Euro and Sterling are also weakening notably. Dollar is rebounding, but for now, Canadian and Australian are still the strongest one for the week. There is prospect for
In this article GME A GameStop location in New York, Dec. 23, 2021. Scott Mlyn | CNBC GameStop reported $1.38 billion in revenue in its fiscal first-quarter earnings report Wednesday, up slightly from the $1.27 billion it reported in the year-ago quarter. But, it also reported a $157.9 million net loss, which is worse than
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Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs. Total altcoin index capitalization What is clear is that fear is everywhere and blood is in the water. Risk-on markets are suffering
Analysts at MUFG Bank forecast the Indian rupee will weaken gradually versus the US dollar over the next months. They see USD/INR at 78.500 by the end of the second quarter and at 79.500 by year-end. Key Quotes: “The Indian rupee plunged to a new record low of 77.928 against the US dollar in May
EURJPY moved down to test swing area The EURJPY is working on it the 5th day higher today. The price reached the highest level since April 25. The pair on its way higher moved above a topside channel trendline, but has since rotated back lower. Looking at the hourly chart, the correction lower in the
The price of crude oil futures are settling at $115.26 . That is up or %. The low for the day reached 114.58. The low for the day extended to 117.87. Shanghai lifted their lockdown which is a positive for oil. The Russian oil ban in the EU at the end of the year is
New Delhi, Jun 1 (PTI) Gold in the national capital on Wednesday declined by Rs 353 to Rs 50,509 per 10 grams amid muted global trends along with rupee appreciation, according to Securities. In the previous trade, the precious metal finished at Rs 50,862 per 10 grams. Silver dipped Rs 123 to Rs 60,834 per
Australian Dollar is leading commodity currencies higher again, on the back of positive market sentiment. The Aussie is additionally support by better than expected GDP data, which affirms the case for more RBA rate hike. Canadian Dollar is also firm, awaiting BoC’s hawkish rate hike. Yen is the worst performing one, following the rally in
In this article VSCO Shoppers are seen inside a shopping mall in Bethesda, Maryland on February 17, 2022. Mandel Ngan | AFP | Getty Images Victoria’s Secret reported a quarterly profit that topped Wall Street expectations on Tuesday, but warned that it could continue to face supply chain and sales challenges for the remainder of
AUD/USD gained some traction in reaction to the better-than-expected Australian GDP print. Some follow-through USD buying, global growth concerns continued acting as a headwind. A positive risk tone helped limit the downside as traders eye US data for a fresh impetus. The AUD/USD pair attracted some buying during the early part of trading on Wednesday,