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! 👋
Copyright © 2023 – All rights reserved.
NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.
The website is owned by The NAGA Group AG and operated by NAGA Capital Ltd which is authorised and regulated by the Financial Services Authority Seychelles (FSA) under licence No. SD026. The registered address of CT House, Office 9A, 2nd Floor, Providence, Mahe, Seychelles.
Tel: +2482574498
The group also includes NAGA Global (CY) Ltd, with registered address at Nikokreontos 2, NICE DREAM, 6th floor, Flat/Office 601, 1066, Nicosia, Cyprus. NAGA Global (CY) Ltd is wholly owned by The NAGA Group AG.
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. This is not investment advice. Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the Lead Traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.
Restricted countries: NAGA Capital Ltd does not provide services for the residents of certain countries, such as Afghanistan, Albania, American Samoa, Anguilla, Australia, Austria, Barbados, Belarus, Belgium, Benin, Bermuda, British Indian Ocean Territory, Bulgaria, Burkina Faso, Canada, Cayman Islands, Central African Republic, Christmas Island, Cocos (Keeling) Islands, Congo, The Democratic Republic of the, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Falkland Islands (Malvinas), Finland, France, Germany, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Islamic Republic of, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Korea, Democratic People's Republic of, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Palestinian Territory, Occupied, Pitcairn, Poland, Portugal, Romania, Russian Federation, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, Ukraine, United Kingdom and any other countries where the citizens have British proof of identity (i.e. British Virgin Island, Gibraltar, Isle of Man etc.), United States, U.S. Minor Islands, Vanuatu, Virgin Islands, British, Virgin Islands, U.S., Yemen, and Zimbabwe.