EUR/USD 1.15317
-0.001%
Gold 4069.44
-0.190%
Oil 74.408
0.104%
USD/JPY 157.752
0.006%
GBP/USD 1.34504
-0.009%
GBP/JPY 212.188
0.007%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 5th, AMD (AMD.O) shares fell nearly 9% in after-hours trading after its revenue outlook fell short of some investors expectations. Its not uncommon for AMDs stock to decline even after reporting positive results. In recent years, even when the company exceeds Wall Street expectations, the market reaction to its earnings reports has often been negative. AMD expects third-quarter revenue of $13 billion, plus or minus $300 million. While analysts average expectation is $12.5 billion, according to data compiled by Bloomberg, some Wall Street expectations are much higher than $13 billion. The market reaction suggests that the company needs to demonstrate faster growth to justify its valuation. The chipmakers stock has more than doubled this year—far exceeding the broader market gain—as AMD has become a major challenger to Nvidia in the AI processor field. In a conference call, CEO Lisa Su told analysts that the company expects data center revenue to more than double by 2027. She also said that in the longer term, the company is on track to exceed its previous targets of 35% annual revenue growth and $20 per share earnings.U.S. Treasury Secretary Bessant: With energy prices falling, we are no longer facing excessive depreciation of the yen, which will help reduce inflation and allow the yen to enter a virtuous cycle.August 5th - According to US media reports on the 4th, the US government has revoked the visa of the Brazilian ambassador to the US in retaliation for Brazils refusal last month to issue visas to two US State Department officials and its delay in accepting President Trumps nominee for ambassador to Brazil. The Associated Press, citing a State Department official, reported that this move was a reciprocal response to Brazils actions. The US government had repeatedly delayed taking action, giving Brazilian President Lula room to maneuver, but Lula did not change his position. If Brazil takes appropriate action and accepts the US ambassador nominee, the US can quickly withdraw the measure.The documents show that Berkshire Hathaway sold 182,980 shares of DeWitt stock at an average price of $199.55 per share, and still holds approximately 28.7 million shares of DeWitt stock.August 5th - According to the Financial Times, the Trump administration has paid out approximately $100 billion in tariff refunds since the U.S. Supreme Court ruled that its use of emergency powers to impose tariffs on trading partners was invalid. U.S. Customs officials reported to a judge at the U.S. Court of International Trade on Tuesday that this amount represents 60% of the $165 billion collected under the presidents "Liberation Day" tariffs.

GBP/USD seeks to regain 1.2300 as higher UK CPI strengthens the case for a rate hike by the Bank of England and the USD retreats

Alina Haynes

Mar 23, 2023 15:00

 GBP:USD.png

 

During the Asian session, the GBP/USD pair attempts to reclaim the resistance level at 1.2300. Following a vertical correction, the Cable has recovered to near 1.2260 as the market anticipates that the absence of hawkish interest rate guidance from Federal Reserve (Fed) chair Jerome Powell while addressing the economy at the monetary policy meeting indicates that the Fed is close to ending its policy-tightening spell.

 

S&P500 futures have generated some gains in the Asian session following a decline on Wednesday as a result of Fed Powell's confirmation that the fight against intractable U.S. inflation will continue. Chairman of the Federal Reserve Jerome Powell has ruled out rate cuts in 2023, citing the difficulty of controlling inflation. In addition, US Treasury Secretary Janet Yellen's statement that the government "does not plan to insure all uninsured bank deposits" heightened fears of a banking sector collapse.

 

Following a recovery move, the US Dollar Index (DXY) has retreated on expectations that additional credit tightening to protect banking institutions will reduce overall demand, economic activity, and inflation. In the interim, the demand for US government bonds has increased as a result of expectations that US Janet Yellen will end further policy restrictions and reduce support for all bank deposits.

 

On the front of the United Kingdom, the Pound Sterling is likely to maintain its strength as the Bank of England (BoE) is scheduled to raise rates for the eleventh consecutive time. Governor Andrew Bailey of the Bank of England is expected to raise interest rates by 25 basis points (bp) in response to rising food and non-alcoholic beverage prices, as well as rising energy costs, which have contributed to inflation in the United Kingdom.

 

In the midst of global banking turmoil, the Bank of England's (BoE) interest rate decision will be difficult, as policymakers were divided over whether to raise rates further or maintain them at their present level.


Suggestion