The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy. Prices accelerated 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported Thursday. However, the annual rate was slightly below
Month: August 2023
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 Semiconductor Manufacturing International Corp. posted on Thursday a drop in second-quarter revenue against
Share: GBP/USD remains on the defensive below the 1.2700 area, UK GDP eyed The GBP/USD pair remains on the defensive around 1.2680 during the early Asian session on Friday. Market participants turn cautious ahead of the top-tier economic data released from the UK and US. Market players anticipated that the UK could avoid the recession
Last week, the NFP missed expectations for a second time in a row and the previous numbers were all revised lower. This was seen as a disappointment as the labour market seems to be a touch weaker than previously expected and we saw a brief rally in Gold. The unemployment rate though, fell once again
I’m struggling to see a way forward for the German economy. Today’s data showed German industrial production falling 1.5% in June. That was worse than the 0.5% decline expected and continues a series of soft readings for factories. Production is now down 1.8% year-over-year and that may just be the start. German electricity use has
Gold prices firmed on Monday after a slower-than-expected U.S. job growth data knocked the dollar and bond yields off their recent highs, as investors brace for this week’s inflation test that could influence the Federal Reserve’s policy path. FUNDAMENTALS * Spot gold was steady at $1,942.33 per ounce by 0130 GMT, off an over three-week
Last week ended with Dollar taking center stage as the best performer, driven by significant turbulence in the bond markets that sent long-end yields sharply higher and provided a mid-week uplift. Although the greenback experienced a notable pullback following non-farm payroll report, it still stands poised for potential further gains, should the selloff in stocks
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT JPMorgan Chase economists on Friday bailed on their recession call, joining a growing Wall Street chorus that now thinks a contraction is no longer inevitable. While noting that risks are still high and growth ahead is likely to be slow, the bank’s forecasters think the
In this article QCOM Follow your favorite stocksCREATE FREE ACCOUNT Qualcomm president and CEO Cristiano Amon speaks about Qualcomm’s technology for automakers at a news conference during CES 2022 in Las Vegas, Nevada, January 4, 2022. Steve Marcus | Reuters Qualcomm reported third-quarter earnings on Wednesday that beat Wall Street expectations, but revenue and guidance
Share: USD/CAD consolidates in a range around the 50% Fibo. through the Asian session on Monday. The fundamental backdrop favours bullish traders and supports prospects for additional gains. A sustained break below the 1.3225 area is needed to negate the near-term positive outlook. The USD/CAD pair kicks off the new week on a subdued note
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The AUDUSD is trading up and down today. The price has moved up more recently extended to a new session high. In the process, the pair is tested the low of a swing area between 0.65586 and 0.65667 on the 4-hour chart below. A move of the swing area would have traders targeting 0.65785 followed
Apple and Amazon will release earnings after the bell today. So what is expected?: Estimates for Apple’s earnings: Revenue: $81.7 billion Earnings per share (EPS): $1.19 iPhone revenue: $39.9 billion iPad revenue: $6.4 billion (down 11% on the year) Mac revenue: $6.6 billion Other products: $8.4 billion Services: $20.8 billion The revenues are expected to
Artificial intelligence could eventually have a bigger financial impact on the American economy than electricity and personal computers, according to economists at investment banking giant Goldman Sachs. In an Aug. 1 investment report, Goldman Sachs economists Joseph Briggs and Devesh Kodnani predicted that AI could pull as much as $200 billion in global investments by
Gold prices languished near three-week lows on Thursday after a larger-than-expected increase in U.S. private payrolls in July fuelled bets on more monitory policy tightening and boosted the dollar and bond yields. FUNDAMENTALS * Spot gold was little changed at $1,935.20 per ounce by 0100 GMT, trading near its lowest level since July 12 hit
Dollar is making an effort to extend its near term rebound in early US session, bolstered by significantly stronger-than-expected ADP private job report. Concurrently, the greenback is finding support from the risk-off mood triggered by Fitch’s unexpected downgrade of US sovereign rating, which sent global equities lower. However, Dollar’s upside momentum seems far from being