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- NAGA’s Weekly Recap | February 13 — February 17 — 2023
NAGA’s Weekly Recap | February 13 — February 17 — 2023
Looking for a quick and comprehensive overview of some of the latest financial events that may impact your assets?
Look no further than our Weekly Recap, covering the period of February 13 to February 17. From changes in US CPI inflation to the latest earnings report from Airbnb and updates on the price of gold and the EUR/USD exchange rate, we've got you covered.
So dive in and find out how these events could impact your investments! 🚀
Annual US CPI inflation slows to 6.4%, but monthly rose by 0.5%
The latest Consumer Price Index (CPI) report indicates that annual US inflation slowed down to 6.4%, the smallest decrease since October 2021, even as monthly inflation rose by 0.5% from December.
This news comes after a surprising job report that showed employers hired 517,000 new workers, exceeding economists' expectations. Despite historic wage increases, high prices over the past year have reduced the real value of Americans' income and increased the risk of a recession.
In our article, find out how this release affected the financial markets and the outlook for $US Dollar and stocks!
Trading involves significant risk of loss.
Shares of Airbnb ($ABNB) jumped 11% after reported fourth-quarter earnings
Shares of Airbnb ($ABNB) jumped 11% after the home-sharing platform reported better-than-expected fourth-quarter results and revenue guidance.
The company exceeded Wall Street estimates, with Q4 revenue growing 24% to $1.90 billion and earnings per share of 48 cents, well above the expected 8 cents.
The company's solid financial performance and promising outlook for Q1 2023 suggest that the platform's business is on track to recovery.
Will Airbnb's revenue growth continue to accelerate in the coming quarters, and can the company sustain its impressive 16% year-over-year growth in active listings?
Trading involves significant risk of loss.
Gold price steady-weaker following hotter U.S. inflation report
Gold and silver prices are steady to slightly lower in US trading. In the immediate aftermath of a US inflation report that came in hot, April gold was last down $0.80 at $1,844.70 and March silver was down $0.072 at $21.50.
The hotter PPI report falls into the camp of the US monetary policy hawks, who want to see the Fed continue to raise US interest rates to choke off problematic price inflation.
Trading involves significant risk of loss.
EUR/USD is dropping toward 1.0600, at its lowest level in six weeks
EUR/USD is dropping toward 1.0600, at its lowest level in six weeks in early Europe this Friday. The pair is undermined by a broadly firmer US Dollar amid rallying US Treasury bond yields and risk aversion as ECB and Federal Reserve speeches are eyed.
The pair's near-term technical outlook shows that the bearish bias stays intact. The risk-averse market atmosphere also suggests that EUR/USD is likely to stay on the back foot ahead of the weekend.
After the data from the US showed on Thursday that the Producer Price Index rose at a stronger pace than expected in January, the US Dollar started to gather strength against its rivals during American trading hours.
Trading involves significant risk of loss.
This concludes our weekly recap. Have a great weekend and see you next week! 👋
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