Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Pictured here on July 8, 2022, is a Huawei flagship store in Shenzhen, Guangdong province of China. Jade Gao | Afp | Getty Images BEIJING — Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly
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Sterling is underperforming despite better-than-expected data and is currently trading near 1.2125. The GBP/USD pair could tumble to the 1.20 level, economists at BBH report. A recession is a foregone conclusion “A break below 1.2110 would set up a test of the August 5 low near 1.20.” “Q2 GDP came in at -0.1% QoQ vs.
OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency,
The EURUSD continues to leak oil and wander to the downside. The pair is trading at its lowest level in the US session. Stocks are trading to new session lows. The S&P is moving back toward unchanged. The NASDAQ index is down -53 points at -0.42% at 12800.99. Yields are also higher with the 30
The International Energy Agency (IEA)lifted its demand outlook partly due to power generators switching to oil: “Natural gas and electricity prices have soared to new records, incentivising gas-to-oil switching in some countries” That’s from its monthly oil report published Thursday. In it the IEA raised its outlook for 2022 oil demand by 380,000 barrels per
Dollar selloff resumes in early US session after lower than expected PPI reading. Aussie and Kiwi are strong as supported by risk-on sentiments but Canadian is lagging behind. Yen is also firm, together with Swiss Franc, thanks to falling yields. Euro and Sterling continue to be mixed. In other markets, Gold is struggling to take
Wholesale prices fell in July for the first time in two years as a plunge in energy prices slowed the pace of inflation, the Bureau of Labor Statistics reported Thursday. The producer price index, which gauges the prices received for final demand products, fell 0.5% from June, the first month-over-month decrease since April 2020, the
In this article RIVN RIVN Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive maintained its full-year guidance for deliveries Thursday and reported second-quarter revenue that was higher than Wall Street
EUR/GBP is sensing selling interest around 0.8470 despite the lower consensus for UK economic data. UK households are making higher payouts as subdued earnings are unable to offset soaring inflation. The second-tier Eurozone data is expected to display a vulnerable performance. The EUR/GBP pair is facing barricades around the immediate hurdle of 0.8465 continuously since
According to a new community Discord post on Thursday, decentralized finance platform Oasis.app says that sanctioned addresses will no longer be able to access the application. As a result of the change to the terms of service, wallets flagged as high risk are prohibited from using Oasis.app to manage positions or withdraw funds. Instead, such
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Gold in the national capital on Thursday declined Rs 347 to Rs 52,709 per 10 grams amid decline in international yellow metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 53,056 per 10 grams. Silver also fell sharply by Rs 455 to Rs 59,103 per kg from
The EURUSD rallied strongly after the tamer CPI data, and ran up to a key resistance swing area between 1.03395 and 1.03657. The high price reached 1.0367 and backed off. The move to the downside has now moved down to retest a key break level from this morning. That break was the high price from
Headlines: Markets: NZD leads, GBP lags on the day European equities mixed; S&P 500 futures up 0.4% US 10-year yields down 2 bps to 2.76% Gold up 0.1% to $1,794.63 WTI crude up 0.7% to $92.55 Bitcoin up 3.0% to $24,623 It was another quiet session in terms of headlines but there were some decent
After yesterday’s selloff, Dollar is recovering slightly in Asian session today. But the greenback remains the worst performing one for the week. New Zealand and Australian Dollars are taking most advantage for now, helped by risk-on sentiment. But Swiss Franc and Yen are also strong on falling major benchmark yields. Euro and Sterling are on
Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month due largely to a drop in gasoline prices. On a monthly basis, prices were flat as energy prices broadly declined 4.6% and gasoline fell 7.7%. That offset a 1.1%