European stocks opened higher on Thursday as chipmakers rose on expectations of increased sales from US semiconductor company Nvidia. Shares of ASM International, BE Semiconductor and Extron rose between 1.6 and 3.2 percent, boosting the European technology sector 0.9 percent. Nvidia Corp. projected first-quarter revenue higher than Wall Street estimates …
Read More »Telekom reports Q4 growth, forecasts slightly higher earnings in 2023
Deutsche Telekom reported better-than-expected fourth-quarter earnings on Thursday, citing customer growth in Germany and strong performance from T-Mobile US, and forecast a slight rise in profits this year. Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) of 9.96 billion euros ($10.58 billion) for the quarter, slightly …
Read More »Oil prices go up, ending six days of losses
Oil prices rose slightly in weak Asian trade on Thursday, ending six days of losses fueled by growing concerns that higher interest rates by central banks could squeeze economic growth and boost fuel demand. And by 0110 GMT, Brent crude futures rose two to $ 80.62 a barrel. West Texas …
Read More »Market Drivers – US Session 22/02/2023
The US Dollar benefited from the hawkish FOMC Minutes, accelerating its move by the end of the US trading session. The document showed that a few participants favored a 50 basis point (bps) rate hike, while some believed there was an elevated risk of a recession in 2023.Key DevelopmentsAll FOMC …
Read More »How Have Assets Immediately Reacted To FOMC Minutes?
On Wednesday, the dollar index rose by +0.39%. The dollar moved moderately higher and is just below last Friday’s 6-week high. A slump in stocks Wednesday boosted the liquidity demand for the dollar. Also, the hawkish minutes of the Jan 31-Feb 1 FOMC meeting supported the dollar, with policymakers anticipating …
Read More »US stocks close lower following FOMC minutes’ hawkishness
US stocks closed lower on Wednesday as traders and investors are busy digesting the summary of the Fed’s latest meeting minutes, looking for clues on the central bank’s next move against inflation. The Dow Jones Industrial Average dropped 84.50 points, or 0.26%, ending at 33,045.09. The S&P 500 fell 0.16% …
Read More »AUD/USD falls following FOMC minutes
The first minutes of the FOMC in 2023 showed that some Fed officials wanted a 50 bps rate hike. Policymakers’ worries are linked to a tight labor market and commented inflation risks are tilted upwards. The AUD/USD pair prolonged its losses during the Wednesday session and dropped nearby the day’s …
Read More »RBNZ’s Orr: Core inflation too high, expectations elevated
The Reserve Bank of New Zealand’s governor, Adrian Orr has said that core inflation is too high and that expectations are elevated.Orr has voiced concerns over the difficulties people faced paying for goods and services while power, communications and services were down in flood-affected regions.Orr indicated he was not happy …
Read More »FOMC minutes: A few participants favored raising rates by 50 basis points
The first FOMC Minutes in 2023 has been released with investors searching for further insights into the near-term path for policy and any comments regarding the possibility of the Federal Reserve going back to 50 bps hikes. The US Dollar ran higher from a new low at 104.25 in the …
Read More »Stocks Pause Early Gains Ahead Of FOMC Minutes
Stock indices are mixed after giving up their earlier gains. The Nasdaq 100 (NDX), S&P 500 (SPX), and Dow Jones Industrial Average are roughly flat as of 11:47 a.m. EST, Wednesday.US Stock indices opened Wednesday’s trading with generally positive performance but close to the flatline in anticipation of the minutes …
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