A deeper drop towards 1.04/1.05 is a real possibility – Scotiabank
The EUR/USD currency pair is slipping to the low 1.06s, and economists at Scotiabank are forecasting a sharp fall to the 1.04/05 zone. The current soft undertone to price action suggests that losses below the support at 1.0680 could be sustained, leading to a retest of last week’s low at 1.0613. If this occurs, a […]
Fresh Del Monte posts surprise Q4 profit as sales top estimates
Fresh Del Monte Produce Inc. (FDP) announced their financial results for the fourth quarter of 2021 with net income of $18.3 million, or 38 cents a share, compared to a loss of $11.2 million, or 24 cents a share, in the same quarter of the previous year. The adjusted per-share earnings came to 45 cents, […]
Ankr Records 43% Growth, Here Are 2 Key Trends to Watch
The blockchain ecosystem was recently sent into a frenzy when decentralized blockchain infrastructure provider Ankr (ANKR) announced its partnership with American tech giant Microsoft. The news saw the token’s price surge by 60%, and over the past 24 hours, it has seen a further 43.51% growth to $0.0471. Prior to the partnership, Ankr had been […]
Back to the original plan, a 5.5% peak in OCR forecast – Westpac
The Reserve Bank of New Zealand (RBNZ) is currently grappling with an uncertain environment, with inflationary pressures on one hand and a slowing economy on the other. In the opinion of economists at Westpac, the RBNZ’s determination to get ahead of inflation will likely see it deliver a 5.5% Official Cash Rate (OCR) peak by […]
Chinese government directs state firms to cut big four auditors over data security concerns
The Chinese government has issued guidance to its state-owned firms to stop using major global accounting firms such as Ernst & Young, PricewaterhouseCoopers, KPMG and Deloitte & Touche. According to a report by Bloomberg on Wednesday, the Ministry of Finance is one of the departments that has issued this guidance, which advises firms to let […]
EUR/USD to climb back higher toward 1.0700-1.0750 before the weekend – ING
The Euro to US Dollar exchange rate (EUR/USD) edged lower and closed in negative territory at around 1.0650 on Tuesday. Despite this, economists at ING remain optimistic for the pair and expect it to move back higher toward 1.0700-50 before the weekend. The economists at ING believe that the current support around 1.0640-1.0660 is encouraging […]
2022 Events Cast ‘Serious Doubts’ on Stablecoins as Money: BIS Chief
In a speech delivered on Wednesday, Agustin Carstens, general manager at the Bank for International Settlements, warned that the events of 2022 have cast “serious doubts on the ability of stablecoins to function as money.” Stablecoins are cryptocurrencies that are pegged to the value of other assets, such as sovereign currencies. They do not benefit […]
ZipRecruiter: Employers slow down hiring, hitting January revenue
Shares of ZipRecruiter Inc. (ZIP) fell nearly 12% in the extended session Tuesday after the jobs platform reported its fourth quarter earnings and said employers have slowed down their hiring, cutting down on the company’s January revenue. ZipRecruiter reported that it earned $19.4 million, or 17 cents a share, in the quarter, compared with $20 […]
Gilead says its COVID-19 drug can help reduce deaths, shorten hospital stays
Gilead Sciences Inc. (GILD, -0.14%) reported on Tuesday that its COVID-19 drug, remdesivir, marketed as Veklury, can help reduce deaths and readmission rates among patients hospitalized with COVID-19 who received the drug shortly after their hospital admission. This finding was based on three studies, and it was observed regardless of disease severity and variant. The […]
Applied materials is in the semiconductor sweet spot
Applied Materials (NASDAQ:AMAT) is a company that is in the sweet spot of the two narratives within the semiconductor industry. On one hand, there is spotty activity due to oversupply and sluggish demand in end-markets such as gaming and consumer products. On the other hand, there is a shift towards next-generation technology. Applied Materials is […]