Oil prices suffered losses on Thursday following weak U.S. payrolls data as well as some profit-taking. Still, they remained supported by tight supply as OPEC+ producers stuck to planned moderate output increases. Brent crude dropped 61 cents or 07% to $88.86 a barrel by 09:15 GMT. On Wednesday, Brent crude gained 31 cents. U.S. West …
The dollar hit a 19-month high at the end of last week, on weaker-than-expected US economic data and as Federal Reserve members resisted aggressive rate rises this year; boosting risk appetite. Hence, the dollar sank for a second consecutive session on Tuesday. Risk-sensitive currencies such as the Australian dollar, euro, and British pound rose as …
The Dollar Fell For The Second Day Release of US Data Read More »
The Wormhole has experienced one of the worst hacks. Hackers have stolen crypto worth over $320 million from a decentralized finance platform. It is the fourth-largest crypto heist and the latest to shake the fast-growing DeFi sector. According to a recent report, Wormhole has faced a $320 million hack, the largest in the industry’s history. …
Crypto Platform Wormhole faced $320 Million Hack Read More »
The dollar fell to a more than a one-week low after data showed a decrease in U.S. private sector employment in January. It resulted from an increase in COVID-19 infections. However, the data is improbable to prevent the Fed from hiking interest rates at the March policy meeting. But the report eased expectations of a …
U.S. dollar drops weak private jobs data while euro gains Read More »
HeidelbergCement is one of the largest cement makers in the world. The company reached good results in 2021. It can match or even surpass last year’s growth in 2022. According to its CEO Dominik von Achten, it will likely present more ambitious CO2 reduction targets at a capital markets day in May. Dominik von Achten …
Oil prices strengthened their positions on Wednesday, heading near a previous seven-year high after OPEC+ decided to stick to its planned output increase despite pressure from major consumers to raise production more quickly. OPEC and its allies, together known as OPEC+, agreed to increase oil production by 400,000 bpd from March according to a source. …
European stocks traded higher on the second day of February, continuing a strong start this month. Alphabet’s better-than-expected results helped to boost European stocks. The DAX in Germany gained 0.4%, and the CAC 40 in France added 0.3%. The U.K. FTSE 100 advanced 0.7%, while the pan-European STOXX 600 index gained 0.7%. Market gains are …
Strong Corporate Results Helped Boost European Stocks Read More »
Exxon Mobil reached formidable results in the last quarter of 2021. The oil giant’s revenue rose more than 80% year over year during the quarter amid a rebound in oil and gas prices. With the company now in a stronger financial position, Exxon Mobil said it will begin to buy back stock during the first …
On Wednesday, the euro climbed for a third straight day from a 20-month low last week. The euro rose on Wednesday after inflation in the eurozone hit a new record high, signaling that the European Central Bank’s aggressive monetary policy is starting to bear fruit. The single currency was trading at 1.1411 francs in early …
Google parent Alphabet announced a 20-for-1 stock split on Wednesday, which would create a stock currently valued at around $US1,050. On the news, Alphabet shares closed at $US1,082.50, up around 3%. Alphabet is the parent company of Google, which is the world’s most valuable company. Shares in the company were on a tear in 2017, …
Google parent Alphabet reveals a 20-for-1 stock split Read More »
The dollar dipped on Monday, registering its worst daily drop since November, as investors consolidated gains after hitting a one-and-a-half-year high on Friday in anticipation of a quicker pace of Fed rate rises. Following the Fed’s announcement last week that it plans to raise interest rates as soon as the March 15-16 policy meeting, Wall …
The Dollar Is Falling as The Current Run Comes to A Halt Read More »
The dollar sank on Monday, retreating from a one-and-a-half-year high reached on Friday, as hawkish remarks by a Federal Reserve member over the weekend pushed the yield curve to its flattest levels in three months. The Fed’s meeting last week signaled a rate hike in March. Hence, some investors believe officials are prepping the markets …
The Dollar Falls As The Yield Curve In The U.S. Flattens Read More »
U.S. stocks jumped for a second day on January 31, as investors snapped up some of the tech shares that have been battered all month. In spite of the two-day relief rally, the S&P 500 and the Nasdaq Composite posted their worst months since the onset of the pandemic. They suffered losses as investors braced …
Electric carmakers are working hard to sell their models. Chinese electric carmakers sold a lot of cars in 2021 and 2022. Interestingly, Xpeng and Nio saw deliveries dip in January versus the last month of 2021 but still higher compared to a year ago. Xpeng delivered 12,922 electric vehicles in the first month, a more …
Xpeng and Nio delivered thousands of electric vehicles Read More »
The dollar fell again, while the British pound and Aussie gained and recovered from an overnight drop. On Tuesday, the U.S. dollar fell while risk-sensitive currencies such as the Australian dollar recovered and the British pound rose. The Australian dollar recovered against its U.S. counterpart after the greenback dropped to its lowest level in almost …
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