The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
Ericsson drops to quarterly operating loss
On Tuesday, mobile telecom equipment maker Ericsson suddenly tumbled to a quarterly operating loss, affected by shrinking markets as well as restructuring costs.
The Swedish company, currently focusing on its core networks business under new chief executive Borje Ekholm, posted an operating loss of about 12.3 billion Swedish crowns as previously announced writedowns, provisions as well as restructuring costs pushed it deep into the red.
The company’s stocks tumbled 2% in early trading.
Ericsson has been affected by a dip in spending by telecoms companies, with demand for next-generation 5G technology still years away as well as weak emerging markets. Moreover, it faces surging competition from such fierce rivals as Finland's Nokia and China's Huawei .
First-quarter sales hit 46.4 billion crowns, which is below the consensus forecast of 47.3 billion. Meanwhile, the gross margin turned to be 13.9% vs. the 17.9% seen by experts.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
There’s a likelihood next month that Greece won’t receive up to 750 million euros, it’s expected to get under a debt relief deal with the EU concluded in 2018 because this European country has failed to complete a number of agreed reforms…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…