Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. “All projects are moving full steam ahead,” Faisal Al Ibrahim told CNBC’s Dan Murphy on Monday at the World Economic Forum’s special meeting in Riyadh.
In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft CEO Satya Nadella arrives at federal court in Washington on Oct. 2, 2023. Nathan Howard | Bloomberg | Getty Images Microsoft will report financial results for its fiscal third quarter after the market close on Thursday. Here is what analysts are looking for, according
AUD/USD is in a short-term uptrend that is extending. The pair is pulling back within a rising channel. It will probably find support at the lower channel line and then resume its uptrend. AUD/USD extends its short-term uptrend as it trades in the mid-0.6550s on Monday. AUD/USD 4-hour Chartç The pair has formed a neat
Amid a weakening rupee, gold prices on MCX for June futures contracts fell by Rs 275 or 0.38% to trade at Rs 71,225 per 10 grams on Monday while MCX May silver contracts were down by Rs 85 or 0.11% to Rs 80,595 per kg. A steady U.S. dollar also made bullion less affordable for
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Japanese Yen mounted a strong comeback in Asian session today after initial dip through 160 psychological support against Dollar. While the moves are exaggerated by today’s thin trading volumes due to public holiday in Japan, the strong rebound is marked by widespread squaring of short positions. Traders are clearly on guard against intervention by Japanese
In this article GOOGL Follow your favorite stocksCREATE FREE ACCOUNT Sundar Pichai, CEO of Google and Alphabet, speaks on artificial intelligence during a Bruegel think tank conference in Brussels, Belgium, on Jan. 20, 2020. Yves Herman | Reuters Alphabet will report first-quarter earnings after the bell Thursday. Here is what analysts are expecting. Earnings per
The Japanese Yen dives to a nearly 40-year low amid relatively thin liquidity on Monday. The divergent BoJ-Fed monetary policy and a positive risk tone weigh heavily on the JPY. Intervention fears cap USD/JPY amid a modest USD downtick and overbought conditions. The Japanese Yen (JPY) remains under heavy selling pressure on the first day
USDJPY dipped on the BOJ rate decision but bounced near MAs The USDJPY has continued its march the upside with a run to a new session high. Earlier today, the Bank of Japan Policy was unchanged. The initial reaction was a run to the downside with the low price reaching 154.96. That took the price
Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. Brent crude futures dipped 9 cents, or 0.1%, to $86.95 a barrel at 0024 GMT, and U.S. West
I referred to the wee dip for USD/JPY here: There is some info in there that might be useful. About not trying too hard to pick a top. The trend is still your friend. USD/JPY is back around 158.30 now. There is no fresh news, its best to expect swings for the yen, enhanced volatility
Honeywell shares are under pressure Thursday, despite the industrial conglomerate exceeding expectations for first-quarter sales and earnings. The culprits: Softer guidance for the current quarter and some uncertainty about a recovery in some of its key businesses. Revenue for the three months ended March 31 totaled $9.1 billion, topping Wall Street expectations of $9.03 billion,
Canadian Dollar gets pushed around as investors focus elsewhere. Canada absent from economic calendar until next week. US PCE inflation remains higher than expected, weighing on rate cut hopes. The Canadian Dollar (CAD) took a back seat to broader market flows on Friday as investor focus remains pinned on decaying hopes for a rate cut
The USD is moving to the upside, and in the process is shifting the technical bias more in the direction of the buyers. In this video I take a look at five of the major currency pairs including the EURUSD, USDJPY, GBPUSD, USDCHF, and USDCAD. EURUSD: The EURUSD is now below its 100 hour moving
Gold prices edged lower on Friday and were set for a weekly decline as investor attention turned to key U.S. inflation data for cues on the Federal Reserve‘s interest rate trajectory. FUNDAMENTALS * Spot gold dipped 0.1% to $2,331.15 per ounce as of 0136 GMT. Prices are down nearly $100 from the all-time high of
UPCOMING EVENTS: Tuesday: Japan Industrial Production and Retail Sales, Australia Retail Sales, China PMIs, China Caixin Manufacturing PMI, Eurozone CPI, Canada GDP, US ECI, US Consumer Confidence. Wednesday: New Zealand Jobs data, Canada Manufacturing PMI, US ADP, Treasury Refunding Announcement, US ISM Manufacturing PMI, US Job Openings, FOMC Policy Decision. Thursday: Switzerland CPI, Swiss Manufacturing
Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy saying the world faces a decade of low growth if the right economic measures are not applied. Speaking Sunday at WEF’s “Special Meeting on Global Collaboration, Growth and Energy for Development” in Saudi Arabia, he warned that global debt
Microsoft delivered picture-perfect earnings after the bell Thursday, calming the market’s brief fears about runaway spending on AI infrastructure without the cloud revenues to show for it. Revenue increased about 17% year over year, to $61.86 billion, beating the Street consensus estimate of $60.8 billion, according to data from LSEG. Earnings per share (EPS) increased