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FxWirePro: The Day Ahead- 3rd August, 2016

Aug 03, 2016 04:33 am UTC| Commentary

Lots of economic dockets scheduled for today and some with high volatility risks associated. Data released so far: New Zealand: ANZ commodity prices grew 2 percent in July. China: Caixin china services PMI...

Asian markets continue to trade lower, gold stable above $1,360

Aug 03, 2016 03:30 am UTC| Commentary

Major Asian indices are trading on a lower note on Wednesday. The big event for the day is U.S. ADP job results. Gold and silver are trading marginally lower around $1,362 and $20.62 marks respectively. Japans Nikkei...

Australia residential building approvals drop again in June

Aug 02, 2016 15:38 pm UTC| Commentary

Data released by the Australian Bureau of Statistics earlier on Tuesday showed that Australias building approvals declined 2.9 percent in June, following a 5.4 percent decrease in the previous month. Two consecutive months...

Australia’s trade deficit missed expectations, continues to widen in June

Aug 02, 2016 15:00 pm UTC| Commentary

Australias seasonally adjusted trade deficit missed expectations and widened sharply in June to A$3.2 billion, from A$2.42 billion in May, the Australian Bureau of Statistics said Tuesday. The deficit was much wider than...

UK construction PMI in July posts lowest reading since June 2009, confirms clear loss of momentum after Brexit

Aug 02, 2016 14:40 pm UTC| Commentary

In a report released by market research firm Markit and the Chartered Institute of Purchasing Supply (CIPS), UK construction purchasing managers index fell to a seasonally adjusted 45.9 from Junes reading of 46.0. The...

RBA cuts rate to record lows, but refrains from providing clearer easing bias

Aug 02, 2016 14:08 pm UTC| Commentary

The Reserve Bank of Australia has cut rates to a new record low as it looks to spark historically weak inflation. At its policy meeting on Tuesday, the central bank said it had decided to reduce the cash rate by 25 basis...

Japan announced further stimulus measures totaling JPY 28.1 trln

Aug 02, 2016 13:33 pm UTC| Commentary

The much-awaited Japanese economic stimulus package was finally announced earlier Tuesday. Following are the details: Stimulus measures totaling JPY 28.1 trln Fiscal measures total JPY 13.5trln JPY 7.5 trln in...

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Economy

Asian Stock Markets Trade Flat as Holiday Liquidity Thins and BOJ Minutes Watched

Asian stock markets traded mostly flat on Wednesday as subdued year-end trading volumes and holiday-thinned liquidity limited investor activity across the region. With Christmas and New Year holidays approaching, many...

US and Japan Fast-Track $550 Billion Strategic Investment Initiative

The United States and Japan have agreed to accelerate coordination on their Strategic Investment Initiative, a major bilateral framework backed by a $550 billion fund established under the two countries tariff agreement....

Japan Plans $189 Billion Bond Issuance as Record Budget Signals Expansionary Fiscal Policy

Japan is preparing to issue new government bonds worth approximately $189 billion to help finance a record-breaking national budget for the next fiscal year, according to a draft budget reviewed by Reuters. The move...

BOJ Minutes Reveal Growing Debate Over Interest Rate Hikes and Inflation Risks

Bank of Japan (BOJ) policymakers actively debated whether to continue raising interest rates toward levels considered neutral for the economy, according to minutes from their October policy meeting released on Wednesday....

Gold Price Breaks $4,500 as Safe-Haven Demand and Rate Cut Bets Fuel Rally

Spot gold surged past the key psychological level of $4,500 per ounce for the first time on Wednesday, marking a historic milestone for the precious metal and reinforcing its status as a preferred safe-haven asset. The...

Politics

Global Backlash Grows Over Israel’s Approval of New West Bank Settlements

Several countries, including Britain, Canada, Germany, and a number of European and Asian nations, have strongly condemned Israels recent decision to approve 19 new settlements in the occupied West Bank, warning that the...

Israel Advances Controversial Inquiry Bill Into October 7 Hamas Attack Amid Public Backlash

Israels parliament has given initial approval to a controversial bill that would allow the government to control an inquiry into the October 7, 2023 Hamas attack, a move that has intensified political tensions and drawn...

Anutin Charnvirakul Named Bhumjaithai PM Candidate Ahead of Thailand’s February Election

Thailands caretaker prime minister Anutin Charnvirakul has been officially selected by the Bhumjaithai Party as its candidate for prime minister in the upcoming general election scheduled for February 8. The decision comes...

EU Condemns U.S. Visa Ban on European Figures, Warns of Firm Response

The European Commission has strongly criticized the United States over its decision to impose a visa ban on five European individuals, including former EU Commissioner Thierry Breton, calling the move unjustified and...

Zelenskiy Urges High-Level Talks With Trump as Ukraine, U.S. Near 20-Point Peace Framework

Ukrainian President Volodymyr Zelenskiy has called for a direct meeting with U.S. President Donald Trump to resolve the most sensitive elements of a potential peace agreement with Russia, particularly issues related to...

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

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...

Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions

Moore Threads Technology Co Ltd (SS:688795), often described as Chinas potential alternative to NVIDIA Corporation (NASDAQ: NVDA), attracted investor attention after unveiling a new lineup of graphics processing units at...