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The Indian Rupee (INR) faced some challenges on Wednesday as a result of increased demand for the US Dollar (USD) and the belief that the US Federal Reserve won’t be cutting interest rates anytime soon. However, despite these setbacks, the INR managed to hold its ground due to positive signals from the local stock market
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As U.S. stocks were poised to open higher on a particular day, there was significant upward movement in some growth and chip stocks. Notably, megacap tech stocks such as Meta Platforms, Microsoft, and Amazon.com showed gains ranging from 0.5% to 1.3% in premarket trading. Additionally, chip stocks like Nvidia, Micron Technology, and Advanced Micro Devices
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Taiwan Semiconductor Manufacturing Company (TSMC) exceeded revenue and profit expectations in the first quarter of this year, thanks to the strong demand for advanced chips, especially those used in AI applications. The net revenue reported was 592.64 billion New Taiwan dollars ($18.87 billion), surpassing the expected NT$582.94 billion. Moreover, the net income was NT$225.49 billion,
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Following the Bank of Japan’s decision to exit negative interest rates, the USD/JPY exchange rate experienced a significant decline to the 154 handle. This move was largely influenced by the forward guidance provided by the BoJ, which signaled the implementation of accommodative policy measures. While this decision may have bolstered buyer demand for the Japanese
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The forecasts for industrial production and retail sales in China are indicating weaker trends. Economists are expecting retail sales to increase by 4.5% year-on-year in March, following a 5.5% rise in February. Similarly, industrial production is predicted to grow by 5.4% year-on-year in March, after a 7.0% increase in February. These numbers hold significant importance
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The inflation figures released on Friday will play a vital role in influencing the Bank of Japan’s rate path. It is anticipated that service sector-driven inflationary pressures could potentially prompt discussions about the timing of an interest rate hike. Economists predict that the annual inflation rate will hold steady at 2.8% in March, while core
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