The coronavirus pandemic continues to affect the U.S. economy. The U.S. economy added more than 1.7 million jobs in July. Based on the information provided by the Labor Department, nonfarm payrolls increased by 1.763 million for the month. Importantly, the unemployment rate dropped to 10.2% from its previous 11.1%. Furthermore, this result surpassed expectations. Moreover, …
The U.S. dollar tried to continue rallying on Monday, but it struggled after the longest losing streak in a decade. Recent declines left the greenback vulnerable. The market was also structurally short of dollars. On Friday, a better payroll report pushed Treasury yields higher into this week’s massive $112 billion debt sale. However, it still …
U.S. dollar struggled to continue rally Monday. Why’s that? Read More »
Huawei says it’s running out of processor chips. This is due to U.S. sanctions against the world’s biggest smartphone vendor, said reports. As of next month, Huawei will no longer be able to make its own Kirin chipsets. This is due to the ongoing economic pressure from the U.S. This was, according to Richard Yu, …
Huawei Runs Out of Chips for Smartphones over US Sanctions Read More »
The euro lowered by 0.3% at $1.1845 on Friday, tumbling down from its recent highs. The British pound slid by 0.2% to $1.3115 as well. The Japanese yen traded flat at 105.58. However, other major currencies weakened against the U.S. dollar. The Australian dollar plummeted down by 0.3% at 0.7220. The Reserve Bank of Australia’s …
The Euro and Sterling declined against the U.S. dollar Read More »
On Friday, Hong Kong’s Hang Seng index led losses among the major markets in the region, as the index dropped 1.6% to 24,531.62. It is worth mentioning that, shares of Chinese tech giants listed on the Hong Kong Stock Exchange fell on August 7. For example, shares of the Chinese tech giant Tencent fell 5.04%. …
Shares of Major Asian Companies and Risk Factors Read More »
The U.S. dollar rebounded on Friday while other major currencies lowered. President Donald Trump took some measures to ban transactions with the Chinese owners of two popular mobile apps. On Thursday, Trump issued an executive order to ban transactions with ByteDance, the Chinese company owning the video-sharing app TikTok, and Tencent Holdings Ltd, owner of …
U.S. dollar soared on Friday. What caused its rebound? Read More »
The stratospheric rise in the price of gold above 2,000 dollars an ounce has almost ceased to be news. In the markets of precious metals, the myth came true. This brutal invasion of the golden bulls should come as no surprise to anyone who pays attention to the current financial landscape. The Fed has injected …
U.S. President Donald Trump issued executive orders connected with WeChat and TikTok. Those orders would ban both of them from operating in the country if their owners won’t sell WeChat and TikTok. Consequently, Chinese-owned parent companies have 45 days to sell TikTok and WeChat. Otherwise, they won’t be able to operate in the country. Notably, …
Shares of Chinese Tech Tencent Fell More than 5% Read More »
Countries around the world are struggling to deal with problems created by the coronavirus crisis. This makes sense, as millions of people lost their jobs. Moreover, it is still too early to analyze all the issues connected with the pandemic and how they affected the global economy. However, people should pay attention to the economy …
General Administration of Customs and Local Economy Read More »
A new app called “More on TikTok” is soon to launch on Amazon Fire TV devices. Tiktok is launching its first TV app that will have curated video playlists and compilations from the mobile TikTok app. This was confirmed by Amazon spokesperson Delaney Simmons in an email. It will include interviews with creators, as well …
TikTok Launches New TV App on Amazon Fire TV | Wibest Broker Read More »
Riskier currencies mostly rallied during the last few weeks as the U.S. dollar weakened. However, the greenback began recovering on Thursday, and several other currencies lowered against it. The Australian and New Zealand dollars rallied overnight, but they plummeted down on Thursday. The Aussie traded at $0.71905, lower by 0.1%. The New Zealand dollar …
Australian and New Zealand dollars lowered on Thursday Read More »
Tensions between the U.S. and China continue to affect stocks. It is not surprising as the U.S. has the largest economy in the world, followed by China. Two days ago, the U.S. Secretary of State Mike Pompeo made a comment. According to his comment Donald Trump’s administration wants to ban untrusted Chinese apps such as …
How U.S.-China Tensions Affected Investor Sentiment Read More »
Estimates say that the citizens of the Swiss Confederation hold a total of 920 tons of gold. The gold reserves of its central bank add another 1,040 tons. Besides, an enormous amount of gold guarded in the vaults of the country’s banks. The amount of gold in private hands amounts to about 231 grams per …
Swiss citizens have 231 grams of gold per capita Read More »
On Wednesday, Sweden’s Statistics Office released information about the country’s gross domestic product (GDP). According to a flash estimate from the statistics office, Sweden’s GDP fell 8.6% in the second quarter of the year. It is worth noting that, it was the largest single quarterly drop in modern history. This result is significantly worse …
It was a day full of challenges for the stocks in the Asia Pacific. Importantly, stocks were mixed on Thursday, as investors are closely monitoring the situation connected with tensions between the U.S. and China. Tensions between the two largest economies in the world started before the coronavirus pandemic. This year countries reached a partial …
Stocks in Asia, Investor Sentiment, and Tensions Read More »
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