The dollar gained on December 6 after five straight days of losses, lifted by data showing the US economy created more jobs than expected in November, backing the Federal Reserve's stance of keeping interest rates on hold after cutting them three times this year.Gains in the dollar were fairly modest despite the robust jobs number, however. The greenback has been pummelled all week due to a slew of weaker-than-expected data in the US manufacturing and services sectors, with investors coming to grips with the reality that the economy is slowing down.The December 6 jobs report provided a respite from all the pessimism and from the continuing uncertainty over the status of US-China trade negotiations.Close Data showed non-farm payrolls increased by 266,000 jobs last month, with manufacturing recouping all 43,000 positions lost in October. Economists polled by Reuters had forecast payrolls rising by 180,000 jobs. related news US lawmaker says Uber must take action … [Read more...] about Dollar shines after blockbuster US jobs report; data backs steady Fed
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For American Express, Data Science is in the company’s DNA
At American Express, a lot of decisions are now driven by AI-powered algorithms. This includes detecting fraudulent transactions, determining credit limits for new customers, sending out the right marketing messages, improving customer interactions and many more.In fact, Amex now encourages most of its employees to acquire some data analytics capabilities. Jayatu Sen Chaudhury, Head of Enterprise Digital & Analytics India and Vice President of Global Commercial & Merchant Data Sciences, American Express, explains why.Q: What are the use cases of AI/ML that you’re exploring? What are the key challenges you’re facing while incorporating AI/ML and how are you addressing it? Close A: AI and ML are being leveraged across the company by different business units to deliver on the exceptional brand experience we are known for, at scale, in the digital age. related news Grab launches Asia's first numberless card in Singapore Fintechs laud RBI’s … [Read more...] about For American Express, Data Science is in the company’s DNA
Wall Street climbs on solid jobs data, trade hopes; Dow Jones rallies over 300 pts
Wall Street ended solidly higher on Friday as a strong jobs report and optimism about US-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite.All three major US stock indexes gained ground, hovering within 1 percent of record highs set last week.But as a tumultuous week of contradictory trade news and mixed economic data drew to a close, only the S&P 500 posted a weekly gain. The Dow and the Nasdaq ended the session down from last Friday's close.Close The US economy added 2,66,000 jobs in November, the largest increase in 10 months, according to the Labor Department, blowing past analyst estimates. The unemployment rate edged down to 3.5 percent. related news Wall Street opens higher after strong jobs data, calmer tone on trade Wall Street inches higher as December 15 tariff deadline looms "This type of report shows underlying economic strength, and it gives corporate management confidence in the strength of the economy," said … [Read more...] about Wall Street climbs on solid jobs data, trade hopes; Dow Jones rallies over 300 pts
Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
Hareesh VDespite positive Chinese manufacturing numbers and improved trade deal optimism, Zinc prices in the international and domestic markets tumbled to multi-month lows.Prices gained considerably in the first half of the year but nosedived to a three year low by September on feeble demand expectation from China.Close China is the world’s largest zinc producer. Additionally, the country is the top consumer, accounting for about half of the global consumption. However, the 16 months old trade dispute with the US has roiled the Chinese manufacturing sector and demand for zinc. related news How to evaluate your risk appetite? December is usually volatile, pause is not negative trigger as articulated Jute could be among priority industries to bet on in next rally Zinc is largely used for galvanising steel, hence, about 50 percent of global demand is from the construction sector. Transportation, infra, industrial machinery and consumer products are the other … [Read more...] about Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
Forex kitty continues to swells, scales past $451-bn-mark
Foreign exchange reserves gained $2.484 billion to touch a new high of $451.08 billion in the week to November 29, according to the weekly data released by the Reserve Bank on December 6.In the previous week, the reserves had increased by $347 million to $448.6 billion.Announcing the fifth bi-monthly monetary policy on Thursday, governor Shaktikanta Das had said the reserves touched $451.7 billion as of December 3, an increase of $38.8 billion since April.Close In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by $2.642 million to $419.367 billion, according to the data. related news Unnao case: Want to see accused shot dead or hanged, says victim's father Bank of Japan to consider offering bleaker view on output as trade war bites: Sources Trade war goes digital: countries eye tariffs on Internet economy Expressed in dollar terms, the foreign currency assets … [Read more...] about Forex kitty continues to swells, scales past $451-bn-mark