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FxWirePro: Asian markets mixed, gold slips below $1,290 mark

May 18, 2018 05:06 am UTC| Commentary

All the major Asian indices were trading on a mixed note on Friday. Gold was trading around $1,288 mark while silver was trading around $16.38 mark. Japans Nikkei was trading 0.31 pct higher at 22,908.55...

FxWirePro: The Day Ahead- 18th May 2018

May 18, 2018 04:26 am UTC| Commentary Central Banks

Not many of economic data and events scheduled for today, and all with low to medium volatility risks associated. Upcoming: Germany: Producer price inflation report will be released at 6:00 GMT, along with...

Australian 10-year bonds yield hits highest since March 2017 tracking heavy sell-off in U.S. Treasuries

May 18, 2018 03:40 am UTC| Commentary Economy

Australian government bonds slumped across the curve on last trading of the weekFridaytracking heaving sell-off in the U.S. Treasuries. The U.S. 10-year Treasury yield hit highest since June 2011 of 3.12 percent on...

Canadian headline consumer price inflation likely rose year-on-year in April

May 17, 2018 21:09 pm UTC| Commentary

The Canadian headline consumer price inflation data for April is set to be released tomorrow. According to a TD Economics research report, the consumer price index is expected to have risen to 2.4 percent year-on-year,...

USD/CAD likely to fall forwards to 1.20 by end-2019, says Lloyds Bank

May 17, 2018 20:32 pm UTC| Commentary

The Canadian dollar continues to consolidate in its medium-term range against the U.S. dollar, noted Lloyds Bank in a research report. The Canadian dollar, in recent weeks, has sustained by the sharp rise in oil prices and...

Canadian retail sales likely to have moderated in March – TD Economics

May 17, 2018 20:02 pm UTC| Commentary

Canadian retail sales data for the month of March is set to be released tomorrow. According to a TD Economics research report, retail sales are expected to have grown just 0.2 percent as a pullback in motor vehicle sales...

Swedish housing starts fall in Q1 2018, likely to decline further going forward

May 17, 2018 19:20 pm UTC| Commentary

Swedish housing starts fell in the first quarter of this year, probably marking the start of a prolonged downturn. This is expected to be a drag on the economic growth going forward, noted Nordea Bank in a research...

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Economy

India–US Trade Deal: Digital Tax Removal and $500 Billion Purchase Commitment Signal Major Policy Shift

India has agreed to remove its digital services tax and committed to purchasing more than $500 billion worth of American goods under a recent trade agreement with the United States, according to a White House fact sheet...

Asian Currencies Edge Higher as Dollar Retreats Ahead of Key U.S. Data

Most Asian currencies strengthened on Tuesday, tracking an overnight pullback in the U.S. dollar as its recent rebound lost momentum ahead of a busy week of key American economic data. While regional foreign exchange...

Japan Weighs Using Foreign Exchange Reserve Surplus to Fund Food Tax Cuts

Japans government is considering whether surplus funds from its massive foreign exchange reserves could be used to help finance planned cuts to the food sales tax, according to comments made Tuesday by Japanese Minister of...

Russia Condemns U.S. Sanctions as Cuba Faces Critical Fuel Crisis

Russia has warned that Cubas fuel situation has reached a critical point, blaming intensified U.S. sanctions for deepening the islands economic crisis and pledging continued solidarity with Havana and Caracas. Moscow also...

U.S. Stock Futures Steady as Investors Await Key Jobs and Inflation Data

U.S. stock futures were little changed on Monday evening as investors grew cautious ahead of key economic data releases later this week, following a mostly positive close on Wall Street. Futures tied to the SP 500 slipped...

Politics

Trump Administration Moves to Repeal EPA Climate Endangerment Finding

The administration of U.S. President Donald Trump is reportedly preparing to repeal a key Obama-era scientific determination that has long served as the legal foundation for federal regulation of greenhouse-gas emissions....

U.S. Issues New Shipping Guidance for Strait of Hormuz Amid Rising Iran Tensions

The United States has issued new guidance for commercial vessels navigating the Strait of Hormuz, one of the worlds most critical maritime chokepoints for global oil and gas shipments, as tensions persist between...

Hong Kong Leader Defends 20-Year Sentence for Jimmy Lai

Hong Kong Chief Executive John Lee said on Tuesday that media tycoon and prominent democracy campaigner Jimmy Lai deserved the 20-year prison sentence imposed by a court earlier this week, arguing that the punishment...

Trump Administration Plans Chip Tariff Exemptions for Big Tech Amid AI Data Center Push

The administration of U.S. President Donald Trump is reportedly planning to exempt major technology companies such as Amazon, Google, and Microsoft from upcoming tariffs on semiconductor chips, a move aimed at supporting...

U.S. Appeals Court Allows Trump Administration to End TPS for Honduras, Nepal, Nicaragua Migrants

A U.S. appeals court in California on Monday temporarily lifted a federal judges order that had blocked the Trump administration from ending Temporary Protected Status (TPS) for nearly 89,000 migrants from Honduras, Nepal...

Science

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Technology

Salesforce Workforce Reduction Affects Fewer Than 1,000 Roles Amid Ongoing Restructuring

Salesforce has reportedly reduced its workforce by fewer than 1,000 employees earlier this month, according to a Business Insider report published on Monday. The report cited a person familiar with the matter, though...

Alphabet Plans Rare 100-Year Sterling Bond to Fund AI Expansion

Alphabet is preparing to issue a rare 100-year sterling bond as part of a broader multi-currency debt offering, marking a notable move to expand its long-term borrowing strategy to support growing investments in artificial...

Amazon Explores AI Content Marketplace With Media Publishers

Amazon (NASDAQ: AMZN) is reportedly in discussions with media publishers about launching a new artificial intelligence content marketplace designed to connect news organizations and digital content creators with companies...

Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible

Taiwan has firmly rejected calls from the United States to relocate a large portion of its semiconductor manufacturing capacity, with senior officials stressing that the islands chip industry cannot be uprooted. Taiwan...

Samsung Electronics Shares Jump on HBM4 Mass Production Report

Samsung Electronics shares surged on Monday following reports that the South Korean tech giant is set to begin mass production of its next-generation HBM4 memory chips, a key component in artificial intelligence hardware....