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FxWirePro: The Day Ahead- 25th August, 2016

Aug 25, 2016 04:20 am UTC| Commentary Economy

Lots of economic dockets and events are scheduled for today but all with low to medium volatility risks associated. Upcoming: France: Investment report for third quarter released at 6:45 GMT along with business...

Norwegian unemployment rate unexpectedly rose to 4.8 percent in July

Aug 24, 2016 15:37 pm UTC| Commentary

Norwegian unemployment rate unexpectedly rose in July, Statistics Norways official data showed on Wednesday. Norways LFS unemployment rose 0.1 percentage points from May to 4.8 percent in June. Data missed expectations...

Chart of the Day Series

Chart of the Day: worsening debt levels of S&P 500

Aug 24, 2016 15:25 pm UTC| Commentary

According to this chart from Bank of America Merrill Lynch (BofAML), obtained via Zerohedge.com, shows that the U.S. benchmark stock index SP 500 looks pretty expensive. Net debt to EBITDA is at levels not seen since the...

Malaysia's headline Consumer Price Index rises in July, likely to average about 1.5 pct in H2 2016

Aug 24, 2016 15:18 pm UTC| Commentary

Malaysias headline Consumer Price Index for July rose by 1.1 per cent compared to a year ago, data released by the Statistics Department showed on Wednesday. Prices of alcoholic beverages and tobacco were up 19.9 percent,...

New Zealand posts larger-than-expected trade deficit in July, modest deterioration to continue over the next year

Aug 24, 2016 14:18 pm UTC| Commentary

Statistics New Zealand reported on Wednesday that the countrys trade balance swung into a deficit of NZ$433 million in July from a surplus of NZ$127 million the previous month. Analysts had expected the trade balance to...

Australia's Q2 construction work witnessed largest q/q fall since Q3 2015

Aug 24, 2016 14:08 pm UTC| Commentary

Australias total construction work fell sharply in Q2. Data released by the Australian Bureau of Statistics on Wednesday showed that the total value of construction work completed in Australia fell 3.7 percent in the...

API reports surplus, while WTI awaits EIA report: call updated

Aug 24, 2016 13:50 pm UTC| Commentary

WTI reversed gains of last week as Iranian officials denied rumors of cooperation and declined to confirm whether Iran would join next months informal OPEC meeting or not. WTI is currently trading at $47.6 per barrel and...

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Economy

Taiwan Stock Market Ends Higher as Semiconductor and Energy Shares Lead Gains

Taiwan stocks closed higher on Thursday, supported by broad-based gains across key sectors including semiconductors, oil, gas and electricity, as well as construction. The Taiwan Stock Exchange Weighted Index finished the...

BOJ Governor Signals Gradual Rate Hikes as Japan’s Inflation Nears 2% Target

Bank of Japan Governor Kazuo Ueda said Japans underlying inflation is steadily accelerating and moving closer to the central banks long-standing 2% target, reinforcing expectations that interest rate hikes will continue if...

UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs

Gold, silver, and platinum have surged to fresh record highs heading into the year-end holiday period, drawing strong attention across global commodity markets. However, UBS is urging investors to exercise caution, warning...

Japan Revises Economic Growth Forecast as Stimulus Fuels Consumption and Investment

Japans government has revised upward its economic growth forecast for the fiscal year ending next March and projected faster expansion in the following year, citing the positive impact of a large-scale stimulus package...

U.S. Stocks Rally to Record Highs as AI Rebound Fuels Holiday-Shortened Session

U.S. stocks closed higher on Wednesday, with the Dow Jones Industrial Average and the SP 500 finishing at record closing highs during a broad-based rally in a holiday-shortened trading session. All three major indexes...

Politics

U.S. Prioritizes Economic Pressure With Venezuelan Oil Quarantine as Sanctions Intensify

The United States has shifted its near-term military focus toward enforcing a so-called quarantine on Venezuelan oil exports, signaling a strategy that prioritizes economic pressure over direct military confrontation....

Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy

Hanwha Group has announced that its Philadelphia-based shipyard has the technical capability to build nuclear-powered submarines for the U.S. Navy, highlighting the South Korean conglomerates growing ambitions in the...

China’s One-Child Policy Legacy Resurfaces After Death of Former Population Chief

The death of Peng Peiyun, a former senior Chinese official who oversaw the countrys one-child policy for a decade, has reignited fierce debate on Chinese social media about the long-term impact of the controversial...

Christmas Eve Jazz Concert Canceled After Kennedy Center Renaming to Include Trump

A planned Christmas Eve jazz concert at the Kennedy Center in Washington, D.C., has been canceled following a controversial decision to rename the iconic performing arts institution to include the name of Republican U.S....

Palau Agrees to Accept Up to 75 U.S.-Transferred Migrants in Deal Tied to Increased American Aid

Palau has agreed to accept up to 75 migrants transferred from the United States after signing a memorandum of understanding (MOU) with Washington, a move that has drawn international attention amid ongoing debate over U.S....

Science

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...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance

NVIDIA (NASDAQ: NVDA) has reportedly agreed to acquire Groq, a fast-growing designer of high-performance artificial intelligence accelerator chips, in a $20 billion all-cash transaction, according to a CNBC report. The...

Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling

A federal judge in Texas has blocked the enforcement of a new state law that would have required app stores and developers to verify users ages, marking a significant legal win for major technology companies and digital...

FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement

The U.S. Federal Trade Commission has welcomed Instacarts decision to end its artificial intelligence-based price testing, a move that follows weeks of consumer backlash and regulatory scrutiny. FTC Chair Andrew Ferguson...

John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training

Investigative journalist John Carreyrou, widely known for exposing fraud at Silicon Valley blood-testing startup Theranos and for authoring the bestselling book Bad Blood, has filed a new copyright infringement lawsuit...

Italy Fines Apple €98.6 Million Over App Store Dominance

Italys competition authority has imposed a 98.6 million ($115.53 million) fine on U.S. technology giant Apple and two of its subsidiaries, citing alleged abuse of a dominant market position related to the distribution of...