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On August 12th, CoreWeave (CRWV.O) rose 12% in after-hours trading on Tuesday after reporting second-quarter revenue of $2.58 billion, a 112% year-over-year increase, exceeding Wall Street expectations and indicating continued rapid growth in demand for AI computing power. Net loss was $626 million, higher than the $290 million loss in the same period last year. The company currently has a $104 billion order backlog and 1.5 gigawatts of capacity under construction. CoreWeave is accelerating its expansion in the data center business, competing with cloud computing giants such as Amazon, Google, and Microsoft for the market of data centers equipped with chips capable of running generative AI models. However, CoreWeave is not yet profitable. As of the end of the quarter, the companys balance sheet showed $35 billion in debt, used to pay for Nvidia GPUs and other equipment purchases. Meta announced an additional $21 billion investment in CoreWeave this quarter. In addition, CoreWeave announced a multi-year partnership agreement with Anthropic and secured $6 billion in committed funding from quantitative trading firm Jane Street.Coreweave (CRWV.O) shares rose 10% in after-hours trading.The API reported that U.S. crude oil production increased by 34,000 barrels per day in the week ending August 7, compared to a decrease of 112,000 barrels per day in the previous week.U.S. refined product imports for the week ending August 7 were 196,000 barrels per day (API), compared to a -206,000 barrels per day in the previous week.U.S. crude oil imports for the week ending August 7 were 835,000 barrels, compared to 172,000 barrels in the previous week.

Price Analysis of the US Dollar Index: DXY Retreats from 104.00, Rising Wedge Anticipated

Alina Haynes

May 12, 2022 10:27

During Thursday's Asian session, the US Dollar Index (DXY) fails to continue the previous two days' upward momentum, trading on the defensive around 103.95.

 

In doing so, the dollar index remains near the 20-year high reached earlier in the week, but for the first time in three days, the daily decline is recorded.

 

In addition to highlighting a 12-day-old rising wedge bearish pattern surrounding the multi-day top, the DXY's most recent decline also reveals a multi-day top-adjacent rising wedge formation. The slow RSI also highlights the significance of the chart pattern.

 

However, a decisive breach below 102.90 is required to validate the potential decline to 101.30.

 

During the fall, the 100-SMA and monthly low between 102.65 and 102.35 will serve as intermediate stops.

 

Until the quote continues below the indicated wedge's resistance line, approximately 104.30 as of press time, a recovery appears elusive.

 

After that, a slow climb to the September 2002 high of 109.80 cannot be ruled out.

Four-hour DXY chart

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