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FxWirePro: Russian negotiation in OPEC politics to stimulate WTI price rallies ahead of EIA’s inventory check

Oct 19, 2016 11:16 am UTC| Commentary Insights & Views

The crude oil market has been steady from thelast couple of weeks, WTI futures for November delivery on the NYME rose 1.03% to $50.81 a barrel, with front-month Brent futures almost unchanged from last Friday at $52/bbl....

U.K. unemployment rate remains unchanged in August, average earnings increase

Oct 19, 2016 10:53 am UTC| Commentary Economy

The rate of unemployment in the United Kingdom remained unchanged during the month of August, although the average earnings increased in the year to August. The rise in earnings have been modest in recent years, but this...

Oil in Global Economy Series

Oil in Global Economy Series: Will OPEC micro-manage oil price?

Oct 19, 2016 10:31 am UTC| Commentary

OPEC members, who surprisingly agreed to the formation of a first major producers deal in decades in September might be planning to micro-manage the oil price. Though the concept makes perfect sense, it is not, however,...

Euroarea construction output declines in August

Oct 19, 2016 10:26 am UTC| Commentary

Seasonally adjusted construction sector production in the euro area dropped 0.9 percent sequentially in August 2016 from Julys print of a rise of 1.8 percent, according to Eurostat. On a year-on-year basis, production in...

Hungary’s wage growth accelerates in August

Oct 19, 2016 10:00 am UTC| Commentary

Hungarian wage growth accelerated in August. Gross wages rose 6.9 percent year-on-year in the month, whereas net wages rose 8.5 percent, owing to the personal income tax change at the start of 2016. In the public sector,...

US Election Series

Why Donald Trump’s win likely to push dollar higher?

Oct 19, 2016 09:57 am UTC| Commentary Economy Politics

The Republican candidate Donald Trumps win might prove decisive for the dollar and that is in many ways. Some are too direct and the other are more elusive and indirect. There could be shortages of the dollar in the global...

South Africa consumer inflation breaches central bank’s target band in September

Oct 19, 2016 09:42 am UTC| Commentary Economy Central Banks

Consumer price inflation in South Africa breached the central banks target band during the month of September, accelerating above the upper end of the target band. However, it remained less than what markets had initially...

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Economy

Gold Price Rebounds as U.S.-Iran Tensions and Fed Minutes Keep Markets on Edge

Gold prices edged higher during Asian trading on Wednesday as investors assessed escalating tensions between the United States and Iran while awaiting the release of the Federal Reserves June meeting minutes for fresh...

Oil and LNG Tankers Turn Back as Strait of Hormuz Security Risks Escalate

At least four oil and liquefied natural gas (LNG) tankers have reversed course after approaching the Strait of Hormuz, as renewed attacks on commercial vessels intensified security concerns along one of the worlds most...

Germany Seen Gaining as U.S. China-Built Ship Fees Reshape Trade

Germany could emerge as one of the unexpected beneficiaries of planned U.S. port fees targeting merchant ships built in China, with exports to the United States projected to increase by about 2%, according to a study by...

Asian Currencies Slip as Stronger US Dollar, Iran Tensions Pressure Regional FX

Most Asian currencies weakened on Wednesday as the U.S. dollar strengthened amid renewed geopolitical tensions in the Middle East, while diverging central bank policies continued to shape regional foreign exchange markets....

Chinese Chip Stocks Jump as Apple Reportedly Tests CXMT Memory Chips for China Devices

Chinese semiconductor stocks rallied on Wednesday after a report suggested Apple (NASDAQ: AAPL) is testing memory chips from domestic manufacturer ChangXin Memory Technologies (CXMT) for devices sold in China, fueling...

Politics

Trump Faces Pressure at NATO Summit as Europe Seeks Stronger U.S. Commitment

NATO leaders gathered in Ankara on Wednesday hoping to persuade U.S. President Donald Trump to reaffirm Washingtons commitment to the alliance after renewed tensions over the Iran conflict, U.S. troop deployments in...

Russia Launches Missile Attack on Kyiv, Injures Two as Odesa Strike Wounds 10

Russia launched a fresh missile attack on Ukraines capital, Kyiv, early Wednesday, sparking fires and leaving at least two people injured, according to city officials. The latest strike underscores the continued intensity...

Trinidad Businessman Dominic Hadeed Appeals Detention Over Alleged Assassination Plot

Businessman Dominic Hadeed and his wife, Genevieve Hadeed, have appealed their detention after being accused of involvement in an alleged plot to assassinate Trinidad and Tobago Prime Minister Kamla Persad-Bissessar and...

Marine Le Pen Launches 2027 French Presidential Bid After Court Eases Election Ban

Marine Le Pen officially announced on Tuesday that she will run in Frances 2027 presidential election after an appeals court reduced her ban from holding public office while upholding her conviction for embezzling European...

Iran Targets U.S. Bases in Bahrain, Kuwait as Hormuz Conflict Escalates and Oil Prices Jump

Iran dramatically escalated tensions on Wednesday, claiming it launched missile and drone attacks against U.S. military sites in Bahrain and Kuwait after the United States carried out fresh strikes on Iranian targets...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

SK Hynix’s $28B U.S. IPO Draws Strong Demand as AI Chip Boom Fuels Investor Interest

SK Hynix Inc. is seeing overwhelming investor interest in its planned $28 billion U.S. listing, with demand reportedly exceeding the number of shares available by several times, according to a Bloomberg News report on...

Wolfspeed Sues Navitas Over GaN and SiC Patent Infringement

Wolfspeed Inc. (NYSE: WOLF) has filed a patent infringement lawsuit against Navitas Semiconductor Corp. (NASDAQ: NVTS), alleging that the chipmaker violated several of its key patents covering gallium nitride (GaN) and...

Apple Tests China's CXMT Memory Chips as DRAM Maker Gains Global Market Share

Apple Inc. (NASDAQ: AAPL) is reportedly evaluating memory chips from Chinese state-backed ChangXin Memory Technologies (CXMT) for devices sold in China, according to a Financial Times report citing people familiar with the...

OpenAI GPT-5.6 Set for Wider Release After U.S. Commerce Approval, Report Says

OpenAI is expected to roll out its advanced GPT-5.6 artificial intelligence model to a broader audience this week after receiving approval from the U.S. Department of Commerce, according to an Axios report published...

Zhipu AI Stock Jumps on Report of Custom AI Chip Development Plans

Knowledge Atlas Tech Joint Stock (HK:2513), the listed company associated with Chinese AI startup Zhipu AI, surged on Tuesday after a report said the company is exploring the development of a custom application-specific...