General view of the UBS building in Manhattan on June 5, 2023 in New York City. Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images UBS on Thursday posted a second-quarter profit of $28.88 billion in its first quarterly earnings since Switzerland’s largest bank completed its takeover of stricken rival Credit Suisse.
Share: USD/JPY refreshes weekly low on Friday, albeit lacks follow-through selling. The divergent Fed-BoJ policy stance continues to act as a tailwind for the pair. Traders now look to the US NFP report before placing fresh directional bets. The USD/JPY pair touches a fresh weekly low during the Asian session on Friday, albeit manages to
The Chicago Mercantile Exchange (CME) introduced its Bitcoin futures contract in December 2017. This was around the same time that Bitcoin (BTC) had reached an all-time high of $19,800, but by late 2018, the price had dropped to $3,100. Investors in cryptocurrencies quickly learned that CME derivative contracts allowed them to make bullish bets with leverage
This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the market is no longer seeing the
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Gold prices firmed on Thursday as a fresh set of soft U.S. economic data added to expectations that the Federal Reserve will pause rake hikes this year, although a surge in Treasury yields and dollar kept bullion on track for a monthly loss. FUNDAMENTALS * Spot gold was up 0.2% at $1,946.17 per ounce by
Euro falls broadly today together with other European majors. Some might point to the expected slowdown in Eurozone core inflation in August as a factor. But indeed headline inflation was steady from the prior month, above expectations. Comments from ECB officials were also hawkish. Traders are probably just squaring positions ahead of tomorrow’s US non-farm
In this article A4N1-FF Follow your favorite stocksCREATE FREE ACCOUNT The Polestar 3 SUV, originally expected late this year, has been pushed into early 2024 because of delays with its Volvo-developed software. Courtesy: Polestar Swedish electric-vehicle maker Polestar on Thursday reiterated that it still expects to deliver at least 60,000 EVs in 2023, with a
Share: Pound Sterling prepares for further rally as market mood remains upbeat. UK’s business confidence improves as firms expect interest rates to peak sooner. Lloyds Bank Business Barometer shows that businesses will keep raising wages and prices ahead. The Pound Sterling (GBP) demonstrates a corrective move as investors seek fresh cues about the interest rate peak
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The AUDUSD sellers had their shot in early US trading below a swing area between 0.6453 to 0.6458. They missed. The subsequent move to the upside then moved through the high from last week at 0.6784, but could not extend above the high from 2 weeks ago at 0.65228. Buyers turn to sellers.. The buyers
It’s a sensitive time in the market, especially for bonds and the dollar, as evident by the reaction to yesterday’s ADP employment data. Right now, the sharks are out for blood and if there is any further signs of weakness in the US economy, that is enough for traders to pile on the misery for
Gold prices were trading flat on Thursday in the early trade amid a steady dollar index. The yellow metal has been moving with strength riding on slippages in the DXY which has gone below the 104 mark. The MCX October gold futures were trading up by Rs 12 or 0.02% from the Wednesday closing price
Dollar’s attempted rally quickly reversed overnight, following disappointing consumer confidence data. Interestingly, equities gained on what some market participants are calling a “bad news is good news” factor. The logic here is that Fed is now less likely to raise interest rates again this year, thereby giving stocks a lift, as Treasury yields also took
Enrique Lores, CEO, HP Scott Mlyn | CNBC Shares of HP fell more than 8% Wednesday morning after the printer and PC-maker released fiscal third quarter earnings that underwhelmed Wall Street. HP reported $13.2 billion in revenue, down from the $13.37 billion expected by analysts, according to Refinitiv. Earnings per share came in line with
Share: Asian stock markets trade mixed on Thursday ahead of the US inflation data. Chinese Manufacturing and Service PMI deteriorated further in August. Bank of Japan (BoJ) policymaker said that they need more time to transition to monetary tightening. Investors will focus on the US inflation and labor data later in the day. Asian stock