NIO stock extends decline on Monday as risk aversion leads the way. Other EV stocks such as Rivian and Lucid also suffered large losses. Sector out of favour and likely to remain so as macro factors too powerful. UPDATE: NIO is down over 1% heading into the close, trading at $23.82 per share. Global stocks edged lower
The 1.1359 to 1.13684 swing area was broken on Friday on the Russian/Ukraine war fears (see red numbered circles). That level held support earlier in the day on Friday (see post here). I warned in that post that the Russian/Ukraine news was still a potential news item that could lead to a break lower. That
While risk aversion still dominates, sentiments appeared to be lifted by comments from Russian Foreign Minister Sergei Lavrov. In a televised exchanged, Lavrov told President Vladimir Putin, “I must say there are always chances… It seems to me that our possibilities are far from exhausted… At this stage, I would suggest continuing and building them
U.S. cryptocurrency exchange Coinbase (COIN) has seen its shares dive 5% pre-trading after a calamitous advertising debut at the Super Bowl 2022. Data from Cointelegraph Markets Pro and TradingView showed COIN preparing to open at $194.53 before Monday’s Wall Street open. Snowden: Coinbase crash “so very internet” The Super Bowl 2022 has been an event
European indices are mostly down by over 3% on the day now and we are seeing further bids in bonds – leading to a strengthening in the yen and dollar as well on the session. US futures are also tumbling with S&P 500 futures down 0.8%, Nasdaq futures down 0.9%, and Dow futures down 0.8%
NEW DELHI: Gold prices moved higher briskly on Monday, trading near a three-month high, as lingering concerns surrounding Ukraine kept the yellow metal’s safe-haven appeal intact. Russia could create a surprise pretext for an attack, the United States said on Sunday, which increases the appeal of save haven gold. Though, the dollar and safe-haven currencies
In this article DHER-DE The logo of German food delivery service Delivery Hero. Sean Gallup | Getty Images European food delivery firm Delivery Hero saw its share price plunge Thursday after announcing earnings guidance that disappointed traders. The Germany-based company said it generated 9.6 billion euros ($11 billion) in gross sales volume in the fourth
EUR/USD revisits the 1.1300 region on Monday. The dollar remains bid amidst persistent risk aversion. US 10y yields trade on the defensive near the 1.90% mark. The single currency sheds further ground and forces EUR/USD to put the 1.1300 support level to the test on Monday’s European morning. EUR/USD looks to geopolitics, risk aversion EUR/USD
The EURUSD rallied last week on the back of a tilt in the ECB toward the possibility of a tightening in 2022. That tilt was expressed last Thursday after the ECB rate decision (see spike higher on February 3). The run to the upside stalled on Friday near swing highs from January 13 and
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BEIJING: Oil prices eased early on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and as investors await the outcome of U.S.-Iran talks that could lead to increased global crude supply. Brent crude futures fell 40 cents, or 0.4%, to $91.01 a barrel at 0140 GMT, while U.S. West Texas Intermediate
San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, July 16, 2019. Ann Saphir | Reuters The Federal Reserve should be measured in its path to raise interest rates, San Francisco Fed President Mary Daly said on Sunday. “It is obvious that we need to pull some
In this article PEP In this photo illustration PepsiCo products are shown on October 05, 2021 in Chicago, Illinois. Scott Olson | Getty Images PepsiCo on Thursday beat expectations for fiscal fourth-quarter earnings and revenue, but warned of cost pressures ahead from the rising price of transportation and packaging. Shares rose about 1% in premarket
The possibility of steeper interest rate hikes worried investors, and tensions between Ukraine and Russia escalated on Friday. This was sending markets into a state of flux with the usual risk assets and FX responding in kind; More on that below. Meanwhile, there was news that a Russian attack on Ukraine could begin any day now and
As the London/European traders look to exit for the weekend, the snapshot of the market currently shows the CAD and GBP as the strongest of the majors, while the EUR is the weakest. The EURGBP is one of the weakest pairs with a decline of -0.51% on the day. However the pair is finding support
Bitcoin (BTC) was on the cusp of making a new higher weekly close on Feb. 13 as bulls kept the market above $42,000. Bitcoin: Potential CME gap to come Data from Cointelegraph Markets Pro and TradingView tracked fairly stress-free conditions for BTC/USD over the weekend, with the weekly candle set to conclude in under 12 hours.