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FxWirePro: The Day Ahead- 23rd August, 2016

Aug 23, 2016 02:52 am UTC| Commentary Economy

Lots of economic dockets and events are scheduled for today and all with low volatility risks associated. Data released so far: China: MNI business sentiment declined in August to 54.3 from 55.5 prior. Japan:...

Asian markets mixed, gold stabilises above $1,330

Aug 23, 2016 02:46 am UTC| Commentary

Asian indices were trading on a mixed note on the 2nd consecutive day. On the other side, gold was slightly down and was trading around $1,337 marks. Silver was trading around $18.96 levels. Japans Nikkei 225 was...

Worrisome Signs Series

Chart of the Day Series

Chart of the Day: Global concerns

Aug 22, 2016 16:29 pm UTC| Commentary

This fantastic chart shared by World Economic Forum showed what are the biggest worries of the world. Surprisingly, Climate change came at the first spot as the biggest concern right now. Given the number of active...

China's rapidly rising housing leverage poses new risks in the event of a housing correction

Aug 22, 2016 15:53 pm UTC| Commentary

Though moderating, Chinas housing market this year has remained strong. Chinas home sales were still up 26.4 percent y/y in the first seven months. Despite the governments explicit voicing of housing bubble...

Soaring fuel exports from China add to downward pressure on oil prices

Aug 22, 2016 14:59 pm UTC| Commentary

Chinas customs data released on Monday showed that Chinas diesel, gasoline and kerosene exports surged in July from a year earlier. Data showed that Chinas Diesel exports rose 181.8 percent to 1.53 million tonnes, gasoline...

Commodities snapshot (energy)

Aug 22, 2016 14:58 pm UTC| Commentary

Energy pack is up in todays trading. Weekly performance at a glance in chart table. Oil (WTI) WTI is down today after big rise last week. Todays range $47.6-49 WTI is currently trading at $47.9/barrel....

Kuroda sees room for further rate cuts below zero, possibly in September

Aug 22, 2016 14:28 pm UTC| Commentary

In an interview over the weekend to the Sankei newspaper, Bank of Japan (BoJ) Governor Haruhiko Kuroda said there is sufficient chance of more easing at next months policy meeting. The phrasing was different from the usual...

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Economy

Asia Stocks Fall as Samsung Earnings Fail to Ease AI Valuation Concerns

Asian stock markets declined on Tuesday as investors questioned whether future earnings can justify lofty artificial intelligence (AI) valuations, triggering a broad selloff in semiconductor stocks despite Samsung...

China 618 Smartphone Sales Drop 13% as Higher Prices Hurt Demand, Huawei Gains Market Share

Chinas smartphone sales fell 13% year-over-year during the 2026 618 shopping festival as rising handset prices and weaker discounts discouraged buyers, according to Counterpoint Research. The annual month-long shopping...

Oil Prices Rise as Strait of Hormuz Risks Offset OPEC+ Supply Increase

Oil prices edged higher on Tuesday as renewed security concerns in the Strait of Hormuz balanced expectations of increased global crude supply following Saudi Arabias price cuts for Asian buyers and OPEC+s latest...

US Stock Futures Slip as Fed Minutes, Earnings Season Take Center Stage

U.S. stock futures traded slightly lower late Monday after Wall Street began the week with solid gains led by technology and semiconductor stocks. Investors are now shifting their attention to the Federal Reserves upcoming...

Gold Price Drops as Strong Dollar and Fed Rate Outlook Weigh on Bullion

Gold prices declined during Asian trading on Tuesday, giving back part of last weeks gains as investors remained cautious over the U.S. interest rate outlook and persistent inflation risks. A stronger U.S. dollar, coupled...

Politics

FIFA Defends Balogun Ban Suspension After Trump Praise Sparks World Cup Controversy

FIFA President Gianni Infantino defended the organizations disciplinary process after U.S. President Donald Trump praised the decision to suspend U.S. striker Folarin Baloguns World Cup red-card ban, a move that has...

Australia, Solomon Islands Strengthen Ties After China’s Pacific Missile Test

Australia and the Solomon Islands have pledged to deepen their bilateral partnership by advancing negotiations on a new comprehensive treaty, a move that comes just one day after China conducted an intercontinental...

NATO Leaders to Unveil Multi-Billion-Dollar Defense Deals Ahead of Trump Summit in Ankara

NATO leaders are set to announce defense agreements worth tens of billions of dollars in Ankara on Tuesday, underscoring Europes commitment to increasing military spending ahead of a high-profile summit with U.S. President...

Trump Says Ukraine Peace Deal Is Closer Ahead of NATO Summit Talks

U.S. President Donald Trump said a resolution to the Russia-Ukraine war may be closer than many believe as he prepares to discuss the conflict during this weeks NATO summit in Ankara, where he is expected to meet Ukrainian...

Russia Strikes Kyiv as Ukraine Faces Patriot Missile Shortage Before NATO Summit

Russia launched a massive overnight missile and drone attack on Kyiv and surrounding areas early Monday, killing at least 28 people and highlighting Ukraines growing shortage of U.S.-made Patriot air defense interceptors....

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

Meta Says States Seek $1.4 Trillion in Penalties Over Teen Social Media Addiction Lawsuit

Meta Platforms has revealed that four U.S. states are seeking approximately $1.4 trillion in potential penalties in a lawsuit accusing the company of designing Facebook and Instagram to addict young users while misleading...

Samsung Q2 Profit Hits Record on AI Memory Boom as Shares Tumble

Samsung Electronics (KS:005930) forecast record-breaking second-quarter earnings on Tuesday, driven by surging demand for artificial intelligence (AI) memory chips. Despite posting stronger-than-expected operating profit,...

LG Energy Solution Q2 Profit Plunges 77% Despite Revenue Growth on Weak EV Demand

LG Energy Solution (KS:373220) expects its second-quarter operating profit to plunge 77% from a year earlier as slowing global electric vehicle (EV) demand continues to pressure the battery industry, despite reporting...

WiseTech Global Shares Surge as Richard White Steps Down as Executive Chair

WiseTech Global shares jumped more than 10% on Tuesday after the Australian logistics software company announced that co-founder Richard White had stepped down as executive chair with immediate effect. Independent director...

Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone

Bank of America upgraded T-Mobile US (NASDAQ: TMUS) to Buy from Neutral on Monday, arguing that the recent selloff in telecom stocks has created an attractive buying opportunity and that investors are overstating the...