EUR/USD 1.19537
-0.710%
Gold 5416.30
4.588%
Oil 63.331
1.448%
USD/JPY 153.406
0.810%
GBP/USD 1.38073
-0.295%
GBP/JPY 211.783
0.522%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 29th, Tesla reported a 3% drop in fourth-quarter revenue, losing its title as the worlds largest electric vehicle manufacturer to BYD. Tesla reported quarterly revenue of $24.9 billion. Full-year 2025 revenue is projected at $94.8 billion, a 3% year-over-year decrease. Net income was $840 million, a 61% year-over-year decrease. Non-GAAP earnings per share were $0.50, exceeding analysts expectations of $0.45. Free cash flow for the quarter was $1.4 billion, a 30% year-over-year decrease due to Teslas significant investments in robotics and artificial intelligence research, but this result was still better than the generally negative expectations of analysts. Teslas stock price rose more than 3% in after-hours trading. Furthermore, Tesla announced a $2 billion investment in xAI, indicating the companys increasing focus on artificial intelligence.Muyuan Foods Co., Ltd. announced that it plans to issue 273.9 million H shares in Hong Kong (subject to the exercise of the over-allotment option), with a maximum price of HK$39 per share. Trading of the shares is expected to begin on February 6.On January 29th, Meta Platforms (META.O) released its fourth-quarter earnings report and gave stronger-than-expected sales guidance, causing its stock price to rise 10% in after-hours trading. The company reported earnings per share of $8.88 for the fourth quarter, exceeding the expected $8.23. Revenue reached $59.89 billion, surpassing the estimated $58.59 billion. The company stated that its advertising business generated $58.1 billion in revenue for the quarter, accounting for nearly 97% of its total revenue. Daily active users in the fourth quarter reached 3.58 billion, in line with Wall Street expectations. Meta indicated that it expects first-quarter sales to be between $53.5 billion and $56.5 billion, higher than analysts estimates of $51.41 billion.On January 29th, Microsoft (MSFT.O) shares fell as much as 8% in after-hours trading on Wednesday, despite the tech giant reporting better-than-expected second-quarter results. Microsoft reported adjusted earnings per share of $4.14 and revenue of $81.3 billion. Analysts surveyed by FactSet had expected earnings per share of $3.91 and revenue of $80.3 billion. Investors were likely reacting to the companys performance in its Azure cloud service. Azure revenue grew 39% in the quarter. This figure exceeded Wall Streets expectations of 37.8%, but was slightly lower than the 40% growth rate in the first fiscal quarter.US Treasury Secretary Bessenter: Increased Venezuelan crude oil supply means lower gasoline prices.

The US Dollar Index (DXY) clings to 98.000 despite a gloomy mood and a need for safe havens

Larissa Barlow

Apr 01, 2022 10:11

  • The US Dollar Index closed March with a 1.65% rise, boosted by a bearish market attitude.

  • A protracted confrontation between Russia and Ukraine could benefit safe-haven assets.

  • Money market futures have priced in a 69.9 percent possibility of the Fed raising interest rates by 50 basis points at its May meeting.

  • DXY Price Prediction: The bias is upward, but a breach below 97.802 might allow for additional losses.

 

The US Dollar Index, usually known as DXY, is a measure of the value of the US dollar versus a basket of six currencies. It closed March positively, with a monthly gain of 1.65 percent, its best since November of 2021. At the time of writing, the US Dollar Index was at 98.348.

 

On the last trading day of March, the market was in a bad mood. Failure to reach a significant settlement in the Russia-Ukraine crisis leaves investors on edge, enhancing the dollar's prospects. Furthermore, money market futures forecast the Federal Reserve to raise interest rates by 50 basis points at its May and June meetings, keeping the US dollar on the rise.

 

The US Personal Consumption Expenditure (PCE), the Federal Reserve's preferred gauge of inflation, increased by 6.4 percent year on year in February, exceeding the previous 6 percent reading. Meanwhile, Core PCE, which excludes volatile items, increased by 5.4 percent year on year, exceeding the 5.5 percent predicted by analysts.

 

Simultaneously, the US Department of Labor released Initial Jobless Claims for the week ending March 26. The final result was 202K, which was more than the 197K predicted.

DXY Price Prediction: Technical Outlook

The US Dollar Index remains bullish, but is consolidating in the 97.800-99.418 zone. The 50-day and 200-day moving averages (DMAs) remain below the price with an upward slope, indicating that the uptrend is still in place.

 

On the upside, the DXY's first resistance level is 99.000. If the latter is breached, the YTD high of 99.418 will be revealed, followed by the crucial 100.00 barrier.

 

The DXY first support, on the other hand, would be 98.000. A definitive breach would reveal 97.802, which, if broken, would clear the road to 96.000, but it would encounter some obstacles on the way down. The 50-DMA at 97.196 would be the next level of support, followed by 96.000.


image.png 

Suggestion