BYD Co.’s earnings increased due to increased demand, although they fell short of expectations set by various analysts. This was due to a price war in China that affected all companies in that market. Sales in China offset the drop in global demand, increasing BYD’s preliminary net revenues in 2023 by about 75% year-on-year to […]
Oil prices fall and OPEC production holds steady
Oil prices dropped and reached below US$77 after evidencing a rebound last week. At the same time, the abundance of global crude supplies has helped to mitigate potential price increases due to growing military tensions in the Middle East. Although markets anticipated a possible price correction, rising OPEC exports weighed on prices. According to market […]
Bitcoin ETF Takes Action
The cryptocurrency created by Satoshi Nakamoto is awaiting the determination of the financial regulator in the United States, the Securities and Exchange Commission (SEC) in the coming weeks regarding the issuance of ETFs, something totally new for the cryptoasset market. A not minor fact is that this year bitcoin celebrates 15 years of its creation […]
Tesla shares hit their lowest price in eight months
Following Elon Musk’s speech, in which he asked investors to understand the dynamics of slowing sales, shares of Tesla Inc (TSLA) plunged to their lowest numbers in eight months. Shares were down nearly 10% as the company failed to beat earnings expectations and warned that its growth will be “considerably lower” than expected this year. […]
The Euro Strengthens and Falls Following U.S. Inflation Data Release
Today’s trading showed notable movements, as the euro started as the strongest currency in the market but fell after the U.S. inflation rate of 3.4% was announced. Although the euro was the currency that most marked the market trends, behind it there were also others that registered striking movements, such as the pound sterling, which […]
The British pound increased its value in the market shortly after the release of inflation data in the United Kingdom
The British pound increased its value in the market shortly after the release of the data regarding inflation in the United Kingdom. Inflation has been stable recently in the UK, thanks to the Bank of England’s (BoE) firm policy on interest rates to combat inflation. One key piece of data is the UK consumer price […]
The yuan lost value after the release of disappointing economic growth data in China
The yuan lost value in response to China’s economy growing much less than expected. It barely surpassed the government’s estimate of 5% for 2023, marking one of the worst growth rates in over three decades. This means that the rebound after the health crisis did not have the expected momentum and, on the contrary, set […]
Dollar slips ahead of European Central Bank data
The dollar (USD) is trading lower on Monday, in a vital week ahead of key U.S. growth and inflation data and the first meeting of the Federal Reserve (Fed).C The dollar index, which follows the greenback against a basket of six other benchmark currencies, was down 0.1 percent at 102.984 at midday, falling from one-month […]
Ethereum’s mastermind suggests increasing the gas limit
The founder of Ethereum, Vitalik Buterin, one of the most famous cryptocurrencies with the largest market cap in the market, has sparked controversy by suggesting an increase to the network’s gas limit. With the increase of the limit would also see an improvement in the scalability of the network according to the founder. Ethereum’s creator […]
USD/JPY rises to eight-week high ahead of Bank of Japan meeting
Today, the USD/JPY hit an eight-week high, rising above 148.80 before settling back at around 148.35. This move comes as markets await the Bank of Japan (BoJ) meeting scheduled for early next week with high expectations. The bank is expected to halt its negative interest rate policy, which could curb the recent depreciation of the […]