This Wednesday, Australia became another country to officially enter a recession. The coronavirus pandemic continued to affect the economies around the world and the local economy is not an exception. As a result, the country’s economy fell into its first recession in nearly 30 years. Importantly, gross domestic product (GDP) shrank 7% in the April-to-June …
Australia’s Economy Fell into its First Recession in Decades Read More »
The U.S. dollar gained on Wednesday after positive U.S. manufacturing data. On the other hand, the Australian dollar struggled last week. This comes after GDP data on Wednesday confirmed the country is in recession for the first time in three decades. In the United States, Manufacturing activity increased more than expected in August, with …
U.S. dollar surged forward on Wednesday due to positive data Read More »
Crude oil futures extended gains on energy commodities Wednesday. This came after a bigger-than-expected draw in U.S. crude stockpiles. Solid U.S. and Chinese factory activity fired up optimism of a recovery from the pandemic, boosting investor risk appetite. Brent crude (LCOc1) futures were up 45 cents to $46.03 a barrel as of 0559 GMT. It’s …
Oil Gains on US Stock Draw & Hopes on Economic Recovery Read More »
Auctify has what it claims is the solution to the difficulty of staying focused in this age of distractions. These are Smart glasses that use AI to monitor what you’re looking at and nudge you to pay attention. It can be the product of your dreams or a productivity-hacking nightmare, depending on your worldview. The …
Auctify Launches AI Smart Glasses that Use an App Read More »
It is not a secret that companies around the world suffered heavy losses due to the coronavirus pandemic. However, Zoom Video Communications was able not only to deal with the pandemic but to generate profit as well. Notably, due to restrictions, millions of people spent most of their time at home for several months. Consequently, …
Impact of Coronavirus on the Zoom Video Communications Read More »
The Japanese yen stayed in a narrow range on Tuesday while politicians tried to choose a new premier. After Prime Minister Shinzo Abe’s shock resignation last week, there has been turmoil in Japan. On the other hand, several off-risk currencies strengthened. The New Zealand dollar traded at $0.6740, near its strongest point in two years. …
The Australian and New Zealand dollars rallied on Tuesday Read More »
The U.S. dollar plummeted down near multi-year lows against most major currencies on Tuesday. Before that, the dollar index plunged on Monday to a two-year low at 91.989 against a basket of six major currencies. The Fed’s new policy framework continued to bolster bets that U.S. rates will stay much longer than other countries. During …
U.S. dollar is still low. What about risk-off currencies? Read More »
On Monday, Zoom Video Communications reported their second-quarter fiscal earnings. Interestingly, second-quarter earnings surpassed expectations. Also, the company raised its full-year guidance. People should take into consideration that, Zoom’s market cap now stands at more than $129 billion. As a result, the San Jose-based company is now larger than IBM as well as AMD. …
Gold futures rose to around a two-week peak in commodities on Tuesday, aided by weakness in the U.S. dollar. The currency fell to its lowest level in about two years. The Federal Reserve’s decision has weakened the dollar. The Fed has decided to alter its monetary policy framework. This was to allow for inflation to …
Gold Prices Rise as Dollar Slumps | Wibest Broker Read More »
The state of the local economy was far from being ideal even before the coronavirus pandemic. However, the pandemic created additional issues for one of the world’s largest economies. Unfortunately, the coronavirus continues to spread in the country. On Monday, India reported 78,512 new coronavirus infections. Moreover, on Sunday the country posted the world’s biggest …
Indian Economy Contracted by 23.9% in the First Quarter Read More »
The Chinese Yuan hit a 14-month high of 6.844 against the U.S. dollar on Monday. Even though it lost some gains later, the Yuan traded at 6.8556 at last. Traders are optimistic due to the services’ growth. They don’t seem that worried about a stalled rebound in manufacturing. Meanwhile, the Japanese yen has had …
Chinese Yuan skyrocketed against the U.S. dollar on Monday Read More »
Last week, the prime minister of Japan, Shinzo Abe made the decision to leave his post due to worsening health. However, he would serve as the prime minister until the next leader is appointed. This decision affected stocks on Friday. Japanese stocks saw gains on the day. The Nikkei 225 gained 1.12% to close at …
Manufacturing PMI for August, Politics, and Stocks Read More »
Intel has teamed up with Square Enix’s Crystal Dynamics game studio. This is to optimize the graphics for the upcoming Avengers game, specifically for PC players. The partnership crops up for graphics card companies like AMD or Nvidia. This deal includes a two-year commitment to continue to support Avengers. Intel largely focuses on the CPU, …
Intel Teams Up with Crystal Dynamics Game Studio Read More »
Stocks in the Asia Pacific were mixed on the last day of August. Interestingly, Japanese stocks led gains among the region’s markets. It is worth noting that, investors are closely monitoring the political situation in the country. Interestingly, mainland Chinese stocks fell on Monday. The Shanghai Composite dropped 0.24% to about 3’395.68. At the same time, the …
Japan’s Longstanding Prime Minister and Stocks in Asia Read More »
The U.S. dollar edged up by 0.1% to 92.356 against a basket of currencies in Europe on Monday. However, the currency is still down 1.2% for the month. Last Thursday, Federal Reserve Chair Jerome Powell outlined an accommodative policy change. Inventors believe that this change could result in inflation moving slightly higher and interest rates …
U.S. dollar gained insignificantly. What about the Yen? Read More »
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