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FxWirePro: The Day Ahead- 6th July 2016

Jul 06, 2016 04:13 am UTC| Commentary Economy

Quite a number of economic events lined up today but all with low to medium volatility risks associated. Upcoming: Germany: Factory orders for May will be announced at 6:00 GMT. Spain: Industrial output for...

Briferendum Aftermath Series

Brexit anxiety hits UK services sector

Jul 05, 2016 14:32 pm UTC| Commentary Economy

UK services PMI misses forecasts in June, sees weakest quarterly growth in three years. According to a report by market research group Markit, the seasonally adjusted Markit/CIPS Services purchasing managers index (PMI)...

Mexican economy likely to grow slightly below trend until next year

Jul 05, 2016 12:53 pm UTC| Commentary Economy

Mexican economy is likely to expand a tad below trend this year and in the next year, assuming that the US economy continues to expand moderately in the medium term. Investment demand is expected to avert a sharp slowdown,...

German factory orders likely to have improved in May

Jul 05, 2016 12:04 pm UTC| Commentary Economy

Factory orders in Germany are likely to have increased in May after declining sharply in April. In a Societe Generales research report, factory orders are expected to have recovered by growing 1.2 percent month-on-month,...

Business activity in India’s service sector slows in June

Jul 05, 2016 11:59 am UTC| Commentary Economy

Business activity in Indias service sector grew at the second-slowest pace in the 12-month period of growth in June, said Markit. The seasonally adjusted Nikkei India Services Business Activity Index dropped to 50.3 in...

Eurozone economy struggles to pick up momentum in June, GDP likely to have slowed in Q2

Jul 05, 2016 11:43 am UTC| Insights & Views Economy Commentary

The eurozone economy failed to gain momentum in June. Markits PMI reading for June released earlier on Tuesday showed that the continents composite data - a mix of both services and manufacturing - hit 53.1 in June, up...

Eurozone May retail sales post highest monthly gain this year, in sync with consensus

Jul 05, 2016 11:43 am UTC| Commentary Economy

Retail sales in the euro zone during the month of May rose, posting the highest monthly gain this year. However, the figure remained largely in line with expectations, government data showed. Retail sales, a proxy for...

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Economy

UAE's Largest Natural Gas Facility Suspended After Attack-Triggered Fire

Abu Dhabi authorities have temporarily halted operations at Habshan, the United Arab Emirates largest natural gas processing facility, following a devastating attack that triggered a major fire at the site. The incident...

Trump's FY2027 Budget: Major Defense Boost and Domestic Spending Cuts

President Donald Trump has unveiled a bold federal budget proposal for fiscal year 2027, signaling a dramatic realignment of national spending priorities. The plan centers on a significant expansion of military funding...

U.S. Warplane Shot Down by Iran Amid Escalating Middle East Conflict

A U.S. military aircraft was shot down by Iranian forces on Friday, marking a significant escalation in the ongoing five-week conflict between the United States, Israel, and Iran. Both nations confirmed the incident, with...

U.S. Job Market Braces for Slow Recovery Amid Middle East Tensions and Economic Uncertainty

The U.S. labor market is expected to post modest gains in March, recovering from Februarys sharp drop of 92,000 jobs, but persistent headwinds are keeping economists cautious. A Reuters poll forecasts nonfarm payrolls...

Bank of Japan Eyes Further Rate Hikes Amid Middle East Tensions and Inflation Pressures

A senior Bank of Japan official reaffirmed the central banks commitment to continuing its interest rate hike cycle, while closely monitoring how the ongoing Middle East conflict is shaping Japans economic outlook and...

Politics

U.S. F-15E Shot Down Over Iran: One Crew Member Recovered Amid Escalating Conflict

A United States F-15E Strike Eagle fighter jet has been shot down over Iranian territory, marking the first confirmed incident of its kind since the start of the nearly five-week conflict between the U.S., Israel, and...

Judge Blocks DOJ Subpoenas in Federal Reserve Investigation, Delaying Powell Succession

A federal judge in Washington, D.C. has once again ruled against the Justice Departments efforts to revive a criminal investigation targeting Federal Reserve Chair Jerome Powell, dealing another significant blow to what...

Congo in Talks With Trump Administration to Accept Third-Country Deportees

The Democratic Republic of Congo is reportedly in discussions with the Trump administration about accepting deportees from third countries individuals who are not Congolese nationals but were living in the United States...

Russia's Easter Strikes Kill Multiple Civilians Across Ukraine

In a significant escalation of its ongoing war against Ukraine, Russia launched a massive daytime strike on Friday, killing at least six people across multiple regions, including Kyiv, Zhytomyr, Donetsk, and Kharkiv....

Iran Rejects U.S. Ceasefire Proposal Amid Ongoing Tensions

An unnamed source revealed to Irans semi-official Fars news agency on Friday that Tehran has turned down a ceasefire proposal put forward by the United States. According to the source, the offer was extended on Wednesday...

Science

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

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...

Technology

Elon Musk Ties SpaceX IPO Access to Mandatory Grok AI Subscriptions

Elon Musk is reportedly making Grok subscriptions a prerequisite for banks and advisers involved in SpaceXs highly anticipated initial public offering. According to the New York Times, citing insiders familiar with the...

MATCH Act Targets ASML and Chinese Chipmakers in New U.S. Export Crackdown

A bipartisan group of U.S. lawmakers has unveiled the MATCH Act, a landmark piece of draft legislation designed to tighten export restrictions on advanced semiconductor manufacturing equipment destined for China. The...

Microsoft's $10 Billion Japan Investment: AI Infrastructure and Data Sovereignty Push

Microsoft is set to pour approximately $10 billion into Japan between now and 2029, channeling funds into data center expansion and artificial intelligence infrastructure to meet the countrys growing demand for data...

Australia's Social Media Ban for Under-16s Sparks Global Movement

Australias landmark social media ban for users under 16, which took effect in December, is reshaping digital policy conversations worldwide. Countries including Spain and Malaysia have signaled interest in adopting similar...

SpaceX Eyes Historic IPO at $1.75 Trillion Valuation

Elon Musks aerospace giant SpaceX has quietly filed a confidential IPO registration with the U.S. Securities and Exchange Commission, according to Bloomberg News sources familiar with the matter. The move signals that the...

Digital Currency