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US consumer confidence broadly unchanged in July

Jul 27, 2016 05:09 am UTC| Commentary Economy

The Conference Board Consumer Confidence Index of the US remained broadly unchanged in July at 97.3, as compared with Junes 97.4. The Julys index was slightly above the market projections of 96. The Present situation index...

Australian inflation remains weak in Q2; RBA likely to cut rate in August

Jul 27, 2016 05:09 am UTC| Commentary Economy

Australias inflation in the second quarter of 2016 came in weak. The consumer price index rose 0.4 percent on a sequential basis in the June quarter, following a fall of 0.2 percent in the first quarter, according to the...

US new home sales grow strongly in June; housing likely to remain firm in medium term

Jul 27, 2016 05:08 am UTC| Commentary Economy

US new home sales grew strongly in the month of June. New home sales rose 3.5 percent month-on-month to 592,000 in June, as compared with consensus expectations of 560,000. Earlier months data was upwardly revised by...

Business activity in US service sector expands at weakest pace in five months

Jul 27, 2016 05:08 am UTC| Commentary Economy

The Markit Flash US Services PMI for the month of July has signalled that the US service sector continued to be muted. The July data has suggested that activity in the services sector has grown at the weakest rate in the...

Currency War Series

PBoC likely to continue intervening to manage market expectations ahead of G-20 Hangzhou Summit

Jul 27, 2016 05:08 am UTC| Commentary

The Peoples Bank of China is likely to continue to intervene after the G-20 Chengdu meeting, in order to manage market expectations if required ahead of the G-20 Hangzhou Summit set to take place on 4-5 September and the...

FxWirePro: The Day Ahead- 27th July 2016

Jul 27, 2016 04:32 am UTC| Commentary Economy

Lot of economic dockets scheduled for today but all with low to medium risks associated. Data released so far: Australia: Consumer price index rose 1 percent y/y in second quarter. RBA trimmed mean CPI rose 1.7...

FxWirePro: USD/JPY fades spike to 106.54, focus now on PM Abe’s speech

Jul 27, 2016 04:09 am UTC| Technicals Commentary

USD/JPY witnessed wild swings on either side over the last hour on account of Japanese headlines surrounding stimulus package. USD/JPY initially spiked all the way up to 106.54 after news that PM Abe will announce...

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Economy

South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom

South Africa is keen to make use of potential new European Central Bank (ECB) repo liquidity lines, according to central bank governor Lesetja Kganyago, as the country continues to navigate easing inflation and a gradual...

Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength

Russian stocks finished the latest trading session on a mixed note, with the MOEX Russia Index closing flat as gains in select blue-chip shares were offset by losses in others. At the close of trading in Moscow, the...

China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices

Chinas central bank has continued to strengthen its gold reserves, extending its buying streak to a 15th consecutive month in January, according to the latest data released by the Peoples Bank of China (PBOC). The move...

Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal

President Donald Trump has signed a landmark executive order removing the 25% penalty tariff on Indian goods, signaling a major shift in U.S.India trade relations and global geopolitical alignment. The move functions as...

Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran

U.S. President Donald Trump has signed a new executive order that could impose tariffs of up to 25% on countries that continue to do business with Iran, marking a significant escalation in Washingtons pressure campaign...

Politics

Ohio Man Indicted for Alleged Threat Against Vice President JD Vance, Faces Additional Federal Charges

A federal grand jury has returned an indictment against a 33-year-old Ohio man accused of threatening to kill U.S. Vice President JD Vance during the vice presidents visit to the Ohio region in January, according to the...

New York Legalizes Medical Aid in Dying for Terminally Ill Patients

New York has officially joined a growing number of U.S. states allowing medical aid in dying after Governor Kathy Hochul signed landmark legislation into law on Friday. The new New York medical aid in dying law permits...

Trump Says “Very Good Talks” Underway on Russia-Ukraine War as Peace Efforts Continue

U.S. President Donald Trump said on Friday that very good talks are ongoing regarding Russias war in Ukraine, signaling potential movement in long-running diplomatic efforts to end the conflict. Speaking briefly to...

China Warns US Arms Sales to Taiwan Could Disrupt Trump’s Planned Visit

China has issued a strong warning to the United States, signaling that any additional arms sales to Taiwan could seriously jeopardize U.S. President Donald Trumps planned visit to China in April. According to a report...

Trump Allows Commercial Fishing in Protected New England Waters

U.S. President Donald Trump has signed a proclamation permitting commercial fishing in a previously restricted marine protected area off the coast of New England, a move that has sparked renewed debate over ocean...

Science

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...

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...

Technology

Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge

Nvidia (NASDAQ: NVDA) CEO Jensen Huang reaffirmed his bullish stance on artificial intelligence, calling the massive capital expenditure flowing into AI infrastructure both appropriate and necessary as the industry...

Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate

Amazon.com (NASDAQ:AMZN) delivered a mixed but closely watched earnings report, beating Wall Street expectations on revenue while unveiling a massive long-term investment plan that unsettled investors. The e-commerce and...

Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch

Major PC manufacturers including HP, Dell, Acer, and Asus are reportedly exploring the option of sourcing memory chips from Chinese semiconductor companies for the first time, as a prolonged global supply crunch continues...

OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering

OpenAI is significantly accelerating its enterprise AI strategy by hiring hundreds of new employees for its technical consulting division, according to a report by The Information, citing a person familiar with the...

SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off

SoftBank Group Corp. (TYO:9984) shares tumbled sharply on Thursday, tracking a steep decline in Arm Holdings (NASDAQ:ARM) after the UK-based chip designer reported weaker-than-expected earnings for the December quarter....