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FxWirePro: USD/ CNY falls to two-week low with plenty more downside potential

Nov 04, 2024 05:41 am UTC| Technicals

USD/ CNY fell to two week low on Monday as market closely monitored the U.S. presidential election and a key meeting of the top leadership in China. The yuan is positioned at the forefront of financial markets response...

FxWirePro: NZD/USD attracts buying interest, 38.2% fib eyed

Nov 04, 2024 05:10 am UTC| Technicals

NZD/USD bounded on Monday as US dollar dipped asmarket braced for outcome for the U.S. presidential election. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls and...

FxWirePro: AUD/ USD consolidating around 0.6005,bias is bullish

Nov 04, 2024 04:37 am UTC| Technicals

AUD/USD rose above 0.6600 level on Monday as investors attention turned to upcoming RBA rate decision and US election results. KamalaHarris and Trump remain virtually tied in opinion polls and the winner might not be...

FxWirePro: GBP/AUD reverses recent rally, bias back to downside

Oct 30, 2024 23:41 pm UTC| Technicals

GBP/ AUD reversed course on Wednesday as sterling was negatively impacted after Britains new finance minister unveils first budget. British finance minister Rachel Reeves on Wednesday said she would raise taxes by 40...

FxWirePro: EUR/NZD bulls undeterred as upbeat data, ECB comments gives longs lift

Oct 30, 2024 23:24 pm UTC| Technicals

EUR/NZD rose on Wednesday as expectations for European Central Bank rate cuts were scaled back following a stronger-than-expected Q3 growth reading for the euro zone. French central bank chief Francois Villeroy de...

FxWirePro: EUR/AUD extends gains, potential for bullish continuation

Oct 30, 2024 23:08 pm UTC| Technicals

EUR/AUD strengthened on Wednesday as euro attracted bids after stronger-than-expected Q3 growth reading for the euro zone. Gross domestic product in the 20 countries sharing the euro grew by 0.4% in the third quarter...

FxWirePro: USD/CAD retreats slightly but trend is still bullish

Oct 30, 2024 16:59 pm UTC| Technicals

USD/CAD retreated slightly from three month high on Wednesday as stronger-than-expected U.S. jobs data and a UK budget release set off choppy trading. U.S. private payrolls growth surged in October, overcoming fears of...

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Economy

The “Takaichi Trade”: How Japan’s First Female PM Is Shaping the Yen

Having assumed office late in 2025 after Shigeru Ishiba quit, Sanae Takaichi has concentrated power with a landslide Liberal Democratic Party victory and a supermajority in the snap election set for February 2026. Having...

How the US–India tariff truce boosts major Indian industries, Surat to Pharma

With zero-duty treatment for flagship products including gems and diamonds, generic drugs, and certain aircraft parts, the new USIndia interim trade agreement reduces US tariffs on Indian products from roughly 25% (close...

Australian Pension Funds Boost Currency Hedging as Aussie Dollar Strengthens

A major Australian pension fund is ramping up its currency hedging strategy as expectations grow that the Australian dollar is undervalued and poised to strengthen further. HESTA, one of Australias largest superannuation...

Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market

Lee Seung-heon, a leading candidate to become the next governor of the Bank of Korea (BOK), has voiced support for raising property ownership taxes as a way to curb surging home prices, while warning that a shift toward...

Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk

Most Asian currencies traded within a narrow range on Monday, reflecting cautious sentiment as investors awaited key economic data from the United States and China. The Japanese yen edged slightly higher after Japans...

Politics

China Overturns Death Sentence of Canadian Robert Schellenberg, Signaling Thaw in Canada-China Relations

Chinas top court has overturned the death sentence of Canadian national Robert Schellenberg, a major development in a long-running drug smuggling case that has strained diplomatic relations between Canada and China for...

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...

Trump Slams Super Bowl Halftime Show Featuring Bad Bunny

U.S. President Donald Trump sparked fresh controversy after criticizing the Super Bowl halftime show fronted by global music star Bad Bunny, calling the performance absolutely terrible in a social media post shared on...

Bangladesh Election 2026: A Turning Point After Years of Political Suppression

Bangladesh is heading into what many describe as its most competitive national election in more than a decade, marking a dramatic reversal of political fortunes after years of one-party dominance. For 15 years under former...

Ghislaine Maxwell to Invoke Fifth Amendment at House Oversight Committee Deposition

Ghislaine Maxwell, a longtime associate of the late financier Jeffrey Epstein, plans to refuse to answer questions during a scheduled deposition before the U.S. House Committee on Oversight and Government Reform on Monday,...

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

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....

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...