A screen displays the company logo for Toast Inc. during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2021. Brendan Mcdermid | Reuters Toast, maker of restaurant management software, said on Thursday it will let go of 550 employees, about 10% of its workforce. The company
Share: USD/COP traded between 3,900 and 4,000 during January. Economists at Scotiabank analyze the pair’s outlook. COP to depreciate a bit to USD/COP 4,100 range A more hawkish BanRep is helping the COP at the moment but external central bank hawkishness may help push USD/COP up towards our trading band. We think the COP will
SMCI daily The shares of Super Micro Computer have been a GME-style phenomenon in the last month, tripling as shares rose nearly every day. They touched $1080 in the pre-market but it’s been a rush to exits. There is major options trading in this pair, including massive volumes of trade in the past day. The
Markets: Gold up $9 to $2013 US 10-year yields up 4.3 bps to 4.28% WTI crude oil up $1.20 to $79.23 S&P 500 down 0.5% NZD leads, JPY lags The hot PPI reading initially looked like it would kick off something like CPI did earlier in the week, albeit at a smaller scale. The dollar
Spot gold closed with a gain of 0.46% at $2,013 on Friday, however, despite this the metal closed nearly 0.50% lower on the week, which is its second straight weekly loss. The ten-year US yields at 4.28% were up around 2.50% on the week, whereas the US Dollar Index was up around 0.15% on the
A general view of a kiosk near Charing Cross station in London, England, on January 20, 2024. (Photo by Alberto Pezzali/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images LONDON — Stronger-than-expected January retail sales provided a glimmer of light for the struggling British economy on Friday — and suggest that the country’s recession
In this photo illustration, the Coinbase logo is seen displayed on a mobile phone screen. Idrees Abbas | SOPA Images | Lightrocket | Getty Images Shares of cryptocurrency exchange Coinbase soared 12% Friday at 10:05 London time in U.S. premarket trading after the company reported its first profit in two years. Coinbase, the largest U.S.
Share: In the US, investors are concerned about the commercial real estate (CRE) market. Economists at Commerzbank provide an overview of the situation. Neglected risks tend to lead to greater turbulence It is likely that it will take several years to overcome the problems, particularly in the office real estate sector. The Federal Reserve does
The AUDUSD has had a down and up trading week. The move lower earlier in the week was off of the stronger than expected CPI. After finding support against a swing area target, the price bounced and was pushed higher after the retail sales on Thursday. Friday has been an up-and-down day with the 61.8%
The euro hit a 20-year low in 2022 and the recovery since has been modest at best. If you look at equity market performance, it’s even more stark with the S&P 500 doubling the performance of the STOXX 600 from the financial crisis lows. Here’s the problem, as highlighted by ECB Governing Council member Isabel
Oil steadied on Friday as slowing demand forecast by the International Energy Agency (IEA) offset support from geopolitical tensions and optimism that the U.S. Federal Reserve might cut interest rates sooner rather than later this year. On Thursday, the IEA said global oil demand growth was losing momentum and trimmed its 2024 growth forecast, in
Dollar stages a notable recovery in the early US session, buoyed by stronger than expected January PPI figures. The highlight was PPI excluding foods, energy, and trade services, which saw its largest monthly increase in a year, hinting at persistent underlying inflationary pressures upstream. Despite the current rebound rebound, Dollar has yet to surpass the
Wholesale prices rose more than expected in January, further complicating the inflation picture, according to a U.S. Department of Labor report Friday. The producer price index, a measure of prices received by producers of domestic goods and services, rose 0.3% for the month, the biggest move since August. Economists surveyed by Dow Jones had been
Swiss Re CEO Christian Mumenthaler gestures during a session of the World Economic Forum (WEF) annual meeting in Davos on January 18, 2024. Fabrice Coffrini | Afp | Getty Images Insurance giant Swiss Re on Friday reported a sharp upswing in full-year profit, benefitting from what it described as an attractive market environment after a
Share: GBP/USD remains on the defensive around 1.2590 in Friday’s early European session. The UK Retail Sales came in stronger than expected, rising 3.4% MoM in January from a 3.3% decline in December. The weaker US Retail Sales in January prompted the possibility that the Fed might cut the interest rates sooner. Traders will monitor
USD The Fed left interest rates unchanged as expected while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut. Fed Chair Powell stressed that they want to see more evidence of inflation falling back to target and that a rate cut in March is not their base
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
Gold traded with a slight uptick on Friday helped by a slip in the dollar index (DXY) and US bond yields after decline continued on softer economic data. The lower-than-estimated retail sales have once again left Street confused as to which way the economy is headed. A rate cut expectation will likely be the key