Huawei’s production campus is pictured here on April 25, 2019, in Dongguan, near Shenzhen, China. Kevin Frayer | Getty Images News | Getty Images BEIJING — Chinese tech giant Huawei on Friday reported 2.2% year-on-year growth in its consumer business revenue for the first half of the year. The modest growth comes alongside China’s slower-than-expected
Share: The recent price action denotes a reluctance to rotate away from the USD, in the view of economists at ING. Disinflation not enough for the bears The US remains on an encouraging disinflation track, but the Dollar is not turning lower. This is, in our view, due to a lack of attractive alternatives given
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The United States Pentagon has launched a new task force to look into how generative artificial intelligence can be used for the nation’s defense. On Aug. 10, the Pentagon announced the formation of “Task Force Lima” which would look into integrating AI across the U.S. defense apparatus so it can “design, deploy, and use generative AI
The strongest to the weakest of the major currencies The EUR and CHF are neck-and-neck for the strongest of the major currencies, while the JPY is the weakest. The USD initially moved lower after the CPI data, but quickly snapped back to the upside. The EURUSD erased all pre-release gains on the day. The GBPUSD
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 prices hovered near one-month lows on Thursday, as investors braced for the make-or-break U.S. inflation data that would shape the Federal Reserve‘s upcoming interest rate decisions. FUNDAMENTALS * Spot gold was steady at $1,916.19 per ounce by 0123 GMT, a few dollars away from its lowest level since July 10 hit on Wednesday.
Despite an initial dip in Dollar after release of US consumer inflation data, the greenback has shown resilience against further selling pressures. The CPI figures, aligning with market predictions, bolster the possibility of Fed maintaining its current interest rates this September. However, several key considerations remain. Firstly, another round of inflation and employment data will
Jim O’Neill, former chief economist Goldman Sachs Group, in Italy in 2019. Alessia Pierdomenico | Bloomberg via Getty Images Veteran economist Jim O’Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides. The U.S. Federal Reserve is broadly expected
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: Thursday’s mixed inflation data from the United States pleased a slew of Federal Reserve (Fed) policymakers but their tone appears slightly cautious. Firstly, Philadelphia Federal Reserve Bank President Patrick Harker crossed wires, via Reuters, and appeared supportive of the US central bank’s victory while marking the progress on inflation. However, the policymaker also anticipated a minor
The USDJPY is ticking to a new high and is up for the 3rd consecutive day. In the process, the price is extending above a key swing area between 143.44 to 143.54. That area will now be a close risk level for traders going forward. Stay above is more bullish. Move below and we should
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 weakness in the early trade on Thursday ahead of the US inflation data. The anticipation of the CPI numbers has kept the movement rangebound. The dollar index (DXY) was hovering over the 102 mark against a basket of six major currencies, though the bias was slightly negative. Meanwhile, from the Indian standpoint,
Most major Asian stock markets are trading in the red, echoing the downturn witnessed in the US markets overnight. An exception to the trend is Japan’s Nikkei, which surged on the back of robust earnings reports from heavyweights like Honda and oil & gas explorer Inpex. This uplifted sentiment has simultaneously weighed on Yen, causing
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