Switzerland’s unemployment rate inched up to 2.6% in September, marking a slight but noticeable rise from the previous month’s rate of 2.5%, according to a report released by the State Secretariat for Economic Affairs (SECO). The increase was higher than expected, reflecting a rise in the number of unemployed individuals…
Bitcoin (BTC) is off to a shaky start in October, a month known for its historically strong performance. On Thursday, BTC briefly dipped below $60,000 before recovering slightly, leading to the liquidation of over $144 million in bullish bets. The cryptocurrency is now trading just over $61,300, showing little change…
The European Commission on Friday announced that it had garnered sufficient backing in a vote among EU members to implement tariffs as high as 45% on imports of electric vehicles manufactured in China, marking the bloc’s most significant trade case and provoking the possibility of retaliation from Beijing. The Commission,…
Nikola (NKLA) stock price went parabolic on Wednesday after the hydrogen truck company published a strong production and sales report. It soared by over 20% in its best day in over a month, reaching a high of $5.90, its highest level since September 26. Disrupting the trucking industry The trucking…
On October 3, Deutsche Bank upgraded RTX Corp (NYSE: RTX) from Sell to Hold, raising its price target from $109 to $129. This upgrade reflects the bank’s confidence in RTX’s potential to outpace its defense-industry peers, primarily due to its substantial aviation business. Despite lowering earnings estimates to account for…
Blue Bird Corporation (NASDAQ: BLBD) saw its stock price tumble over 5% today following a downgrade from Roth Capital. The investment firm shifted its rating from “Buy” to “Neutral” while maintaining its price target at $48. The downgrade stems from concerns about the timely disbursement of $965 million in funding…
The USD/TRY exchange rate bounced back, and was heading back to its all-time high after Turkey published a stronger-than-expected jobs report. It rose to a high of 34.23, its highest level since August 28, and a few points below its all-time high of 34.37. Turkey inflation is still elevated The…
The Indian rupee slumped this week, and was nearing its all-time low against the US dollar as investors waited for next week’s Reserve Bank of India (RBI) decision. It also rose to a high of 83.93 ahead of the upcoming US nonfarm payrolls (NFP) data. US NFP data ahead The…
The GBP/USD exchange rate suffered a harsh reversal this week as the US dollar index (DXY) staged a strong comeback. It retreated to 1.3090, its lowest point since September 12, and 2.24% below its highest level this week. The EUR/GBP, on the other hand, rose to 0.8432, much higher than…
Energy stocks have done well this week as the rising geopolitical risks in the Middle East pushed crude oil prices to their highest point in weeks. Brent, the international benchmark, rose for six consecutive days, reaching a high of $78.12, its highest point since August 30th. The West Texas Intermediate…