The city-state has shown its approval for blockchain technology and has embarked on various projects such as Project Ubin and Project Guardian.
Archiv für den Monat: November 2022
Nikola’s quarterly results beat expectations on deliveries of 63 electric semitrucks
Nikola’s third-quarter revenue was higher than expected after it delivered 63 battery-electric heavy trucks to dealers.
Peloton shares tumble after company offers weak holiday quarter outlook
Peloton reported a wider-than-expected loss and a steeper decline in revenue than analysts projected, while offering a weak holiday-quarter outlook.
Restaurant Brands‘ earnings top estimates as sales rise at Burger King, Tim Hortons
Restaurant Brands reported quarterly earnings that beat analysts‘ expectations, fueled by sales growth at Burger King and Tim Hortons.
Qualcomm shares fall on first-quarter guidance, hiring freeze announced
Qualcomm shares fell in extended trading on Wednesday after the chipmaker offered poor first-quarter guidance.
Etsy shares pop on revenue beat, rosy guidance
Etsy posted better-than-expected sales for the third quarter, and gave a rosy forecast for the current quarter.
The USD is the strongest and the GBP is the weakest as the North American session begins
<p>The <a target=“_blank“ href=“https://www.forexlive.com/terms/f/federal-reserve/“ target=“_blank“ id=“0139b451-c49a-48a1-8365-838a83595a97_1″ class=“terms__secondary-term“>Federal Reserve</a> raised rates by 75 basis points as expected yesterday, and included some extra words saying:</p><ul><li>In determining the pace of future increases in the target range, the committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments</li></ul><p>The market interpreted as more dovish at first, but after chair Powell started his press conference, it became clear that at least the Fed chairs not ready to slowdown from putting on the brakes. That sent the US dollar higher in that momentum has continued in trading here today. The <a target=“_blank“ href=“https://www.forexlive.com/terms/u/us-dollar/“ target=“_blank“ id=“fddda8f4-d5f8-4ee4-8e34-3760ed062f3c_2″ class=“terms__main-term“>US dollar</a> is the strongest of the major currency pairs while the GBP is the weakest ahead of its interest rate decision. The Bank of England is expected to raise rates by 75 basis points as well, but investors are less hopeful for the UK economy is it runs toward the recession a bit faster.</p><p>US stocks are lower in premarket trading after yesterday’s sharp declines led by the NASDAQ index (-3.36%). Yields are running to the upside.</p><p>in other markets:</p><ul><li>Spot gold is trading down $16.95 -1.04% at $1618.40.</li><li>Spot silver is trading down $0.32 are -1.68% at $18.88.</li><li>WTI crude oil is trading at $88.74 down at 1.26%</li><li>Bitcoin is trading at $20,110 him</li></ul><p>In the premarket for US stocks, the major indices are all trading lower:</p><ul><li>Dow industrial average is down 190 points after yesterdays -505.44 point decline</li><li>S&P index is trading down -29 points after yesterdays -96.43 point decline</li><li>NASDAQ index is down -115 points after yesterdays -366.05 point decline</li></ul><p>In the European equity markets, the major indices are also trading lower</p><ul><li>German DAX -1.22%</li><li>France’s CAC -0.85%</li><li>UK’s FTSE 100 -0.79%</li><li>Spain’s Ibex -1.78%</li><li>Italy’s FTSE MIB -0.86%</li></ul><p>In the US debt market, yields have continued its run back to the upside. The 2 year yield traded as low as 4.266% last Friday. It is currently back up at 4.713%. The 10 year yield has moved up from a October 22 low of 3.9%. It is currently at 4.183%.</p><p>In the European debt market, the benchmark 10 year yields are sharply higher:</p>
This article was written by Greg Michalowski at forexlive.com.
ForexLive European FX news wrap: Dollar stays hot post-Fed
<p>Headlines:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/dollar-extends-gains-as-post-fed-musings-continue-to-play-out-20221103/“>Dollar extends gains as post-Fed musings continue to play out</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-visco-italy-germany-spread-is-still-too-high-20221103/“>ECB’s Visco: Italy-Germany spread is still too high</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-lagarde-a-recession-wont-be-sufficient-to-tame-inflation-20221103/“>ECB’s Lagarde: A recession won’t be sufficient to tame inflation</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-panetta-we-need-to-bring-inflation-back-to-2-target-as-soon-as-possible-20221103/“>ECB’s Panetta: We need to bring inflation back to 2% target as soon as possible</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-kazaks-rates-need-to-go-much-higher-20221103/“>ECB’s Kazaks: Rates need to go „much higher“</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-october-challenger-layoffs-3384k-vs-2999k-prior-20221103/“>US October Challenger layoffs 33.84k vs 29.99k prior</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/switzerland-october-cpi-30-vs-32-yy-expected-20221103/“>Switzerland October CPI +3.0% vs +3.2% y/y expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/uk-october-final-services-pmi-488-vs-475-prelim-20221103/“>UK October final services PMI 48.8 vs 47.5 prelim</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/eurozone-september-unemployment-rate-66-vs-66-expected-20221103/“>Eurozone September unemployment rate 6.6% vs 6.6% expected</a></li></ul><p>Markets:</p><ul><li>USD leads, GBP lags on the day</li><li>European equities lower; S&P 500 futures down 0.9%</li><li>US 10-year yields up 8.2 bps to 4.187%</li><li>Gold down 1.1% to $1,617.01</li><li>WTI crude diwb 1.5% to $88.67</li><li>Bitcoin down 0.3% to $20,108</li></ul><p style=““ class=“text-align-justify“>It was a rather straightforward session, in which markets focused on digesting the aftermath of the Fed policy decision yesterday.</p><p style=““ class=“text-align-justify“>Powell’s hawkish message continued to reverberate and that saw the dollar pull higher, with broader market sentiment slumping as traders and investors stuck to the buy the dollar, sell everything else narrative again.</p><p style=““ class=“text-align-justify“>EUR/USD took a fall from 0.9820 to 0.9730 as the dollar ran hot in the session, with GBP/USD falling by over 1% from 1.1400 to 1.1230 as the pair loses altitude after having posted a solid run in the past two weeks. The BOE is in focus and could yet set off a further drop in cable, despite the already big move so far today.</p><p style=““ class=“text-align-justify“>Meanwhile, US futures pulled lower from a flattish start in European morning trade with S&P 500 futures now down 33 points, or 0.9%, as we look towards the Wall Street open later. That comes as Treasury yields also pull higher with 10-year yields up oer 8 bps to 4.187% on the day.</p><p style=““ class=“text-align-justify“>In turn, the mood is weighing on commodity currencies with the antipodeans bearing the brunt of the selling. AUD/USD is down a little over 1% from 0.6360 to 0.6280 while NZD/USD is also posting a similar size drop, down from 0.5830 to 0.5750 currently.</p><p style=““ class=“text-align-justify“>It looks like markets are reverting back to old habits and with the Fed not switching up the beat just yet, it is very much understandable. The US jobs report tomorrow will be another key risk event to see if the prevailing narrative will continue to go unimpeded before the weekend.</p>
This article was written by Justin Low at forexlive.com.
US October Challenger layoffs 33.84k vs 29.99k prior
<ul><li>Prior 29.99k</li></ul><p style=““ class=“text-align-justify“>US-based employers announced 33,843 job cuts in October, a 13% increase from the previous month and 48% higher than the number announced in the same month last year. Of note, the job cuts in October were the highest in a single month since February 2021 when 34,531 job cuts were recorded. Challenger notes that:</p><p style=““ class=“text-align-justify“>“We are beginning to see more job cut activity in the fourth quarter, historically when the bulk of cuts occur, as companies finalize budgets and plans. Many companies are anticipating a downturn, and with a still-tight labor market and the Fed’s rate hikes, more cuts will be on the way as we enter 2023.”</p><p style=““ class=“text-align-justify“>/<a target=“_blank“ href=“https://www.forexlive.com/terms/u/us-dollar/“ target=“_blank“ id=“fddda8f4-d5f8-4ee4-8e34-3760ed062f3c_1″ class=“terms__main-term“>US Dollar</a></p>
This article was written by Justin Low at forexlive.com.
ECB’s Visco: Italy-Germany spread is still too high
<p style=““ class=“text-align-justify“>Well, the good news at least is that markets aren’t getting too carried away in pricing in fragmentation risks. But considering that the spread remains elevated, the risk is still lingering. The ECB does have a new tool to deal with that and for now, markets are listening.</p>
This article was written by Justin Low at forexlive.com.