Category Archive: Finance, No picture
GameStop Reports Missed Q1 Results Early
Image Source: Unsplash GameStop Corp. (NYSE: GME) has disclosed its financial results for the first quarter of 2024, ending May 4. The company reported net sales of $0.882 billion, a significant drop from the $1.237 billion reported in the same quarter of the previous year.This decline in net sales was accompanied by a reduction in selling, general, […]
Market Awaits NFP Data: Euro/Dollar Consolidates
Image Source: Unsplash At the end of the week, the US dollar is hovering around an eight-week low against the euro, but trading activity remains subdued. Everyone is conserving energy ahead of this evening’s May employment data from the US. These reports are expected to provide more insight into the timing of the Federal Reserve’s monetary […]
Bitdeer unveils new chip for low-power Bitcoin mining
Bitdeer Technologies has announced the development of the SEAL04 chip, a highly energy-efficient solution for Bitcoin mining, as part of its technology roadmap for the SEALMINER rig.Set for release in Q2 2025, the SEAL04 chip is expected to achieve an impressive power efficiency of 5J/TH (joules per terahash), significantly lower than the industry average of […]
UK House Prices Up By 1.5% In May: Halifax Report
House prices in the United Kingdom saw an annual increase of 1.5% in May 2024, compared to the same month in 2023, as detailed in Halifax’s latest House Price Index report released on Friday. Monthly decline sees average price dip slightly to £288,688Despite the annual increase, house prices experienced a slight monthly decline of 0.1% in May, bringing the average […]
Germany’s Economy Sees A Weak Start To The Second Quarter
Image Source: Pexels German industrial production disappointed again in April, showing how difficult the recovery of the entire economy will be.In recent weeks, optimism had returned to the German economy. Growth in the first quarter and improving confidence indicators as well as a big portion of wishful thinking had given rise to this new optimism. Today’s […]
EUR/JPY Extends The Decline Below 169.50, Eurozone GDP Data Looms
The EUR/JPY cross extends the decline towards 169.20 during the early European trading hours on Friday. The cross edges lower after the release of weaker-than-expected German April Industrial Production. Additionally, the verbal intervention from Japanese authorities early Friday continues to support the Japanese Yen (JPY) and weigh on EUR/JPY for the time being. Industrial production […]
Understanding Stock Market Divergences: Spotting Trends And Reversals
Image Source: Unsplash Divergences in the stock market can provide crucial insights into potential trend reversals and trading opportunities. In this video, I’ll explore the concept of divergences, how to identify them, and how to use them to make informed trading decisions.I’ll discuss:- What divergences are and why they matter in technical analysis- Confirming divergences with […]
GBP/JPY Falls Toward 198.50 After Hawkish Comments From Japan’s Finance Minister Suzuki
GBP/JPY extended losses for the second consecutive day, trading around 198.70 during the European hours on Friday. The GBP/JPY cross faced pressure following hawkish comments from Japanese Finance Minister Shunichi Suzuki.Minister Suzuki stated that he would take action against excessive currency volatility when necessary and would assess the effectiveness of interventions. Suzuki also emphasized the […]
US Dollar Commentary – Friday, June 7
Image Source: Pexels NFP On DeckThe US Dollar is firmly on watch today as traders brace for the latest US labor market data. Following the weakness in the April NFP report, traders will be looking to see if this weakness continued through last month or if the labor market rebounded. On the numbers front, the market […]
FX Daily: Dialing Back Phase
Image Source: Unsplash The US payrolls release will drive all of today’s trading across markets. Further evidence of US labor market weakness could help the dollar below key levels. On the other hand, a hawkish ECB supports a stronger euro and today’s repricing can only further narrow the interest rate differential. USD: At key level ahead of […]
