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FxWirePro: The Day Ahead- 28th July 2016

Jul 28, 2016 04:17 am UTC| Commentary Economy

Lot of economic dockets scheduled for today but all with low to medium risks associated. Data released so far: Australia: Import price index declined 1 percent q/q in second quarter, while export prices rose by...

Asian markets in red after FOMC, gold and silver higher

Jul 28, 2016 03:16 am UTC| Commentary

All the major Asian indices are trading on a lower note after FOMC kept interest rate unchanged. Gold and silver were trading on a higher note as gold made high of $1,342 and silver touched high of $20.38 marks. Japans...

CBI survey shows UK's retail sector has taken big hit after Brexit vote

Jul 27, 2016 15:38 pm UTC| Commentary

A survey by the Confederation of British Industry (CBI) showed on Wednesday that Britains retail sector has taken a huge hit in the aftermath of the vote to leave the European Union. The CBIs overall reading came in at...

CBRT maintains Turkey's inflation forecasts for 2016/17 in its Q3 inflation report

Jul 27, 2016 15:06 pm UTC| Commentary

Governor of the Central Bank of the Republic of Turkey (CBRT) Murat Cetinkaya announced the third Inflation Report of the year on Tuesday, where it maintained inflation forecasts for end-2016 at 7.5 percent and end-2017 at...

Lack of concrete policy changes in Russia-Turkey talks keeps lira muted

Jul 27, 2016 14:14 pm UTC| Commentary

The negotiations on the restoration of Russian-Turkish relations began on Tuesday, July 26 at the level of ministries. Relations between Russia and Turkey deteriorated after the incident on November 24, 2015, when a...

Hungarian base rate likely to remain unchanged until 2017-end

Jul 27, 2016 13:53 pm UTC| Commentary

The Monetary Policy Council (MPC) of the National Bank of Hungary kept the base lending rate on hold at 0.9 percent during a rate-setting policy meeting on Tuesday. The Council also left the interest rate corridor (a band...

Canadian bonds continue to rally as oil hovers around three-month low; GDP data eyed

Jul 27, 2016 13:39 pm UTC| Commentary

The Canadian government bonds continued to rally on Wednesday as crude prices remained at a three-months amid Bearish Fundamentals. The yield on the benchmark 10-year bond which moves inversely to its price fell 2-1/2...

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Economy

Gold Price Today: Gold Slips as Dollar Rebounds Ahead of Fed Minutes

Gold prices edged lower on Monday as the U.S. dollar regained ground after last weeks sharp decline, with investors awaiting the Federal Reserves June meeting minutes for fresh clues on the outlook for U.S. interest rates....

Dollar Rebounds as Euro, Pound Slip Ahead of Fed Minutes, Yen Near Intervention Zone

The U.S. dollar strengthened modestly on Monday, recovering some of last weeks losses as the euro and British pound weakened ahead of key economic data releases and the Federal Reserves June meeting minutes. Investors...

Oil Prices Slip as OPEC+ Boosts August Output, Oversupply Concerns Weigh on Crude Market

Oil prices edged lower in early Asian trading on Monday after OPEC+ agreed to increase production targets for August, adding to expectations of stronger global crude supplies and easing concerns over disruptions in the...

US Stock Futures Rise as Investors Eye Fed Minutes, AI Stocks, and Q2 Earnings

U.S. stock index futures moved higher on Sunday evening as investors prepared for a key week featuring the release of the Federal Reserves June meeting minutes and the unofficial start of the second-quarter earnings...

Gold Price Rises as Softer Dollar and Fed Rate Expectations Boost Bullion Demand

Gold prices climbed during Asian trading on Monday as a weaker U.S. dollar and fading expectations of another Federal Reserve interest rate hike this year supported demand for the precious metal. The recovery extended...

Politics

China Submarine Missile Test Sparks Concern Across Asia-Pacific

China conducted a missile test from a nuclear-powered submarine into the Pacific Ocean on Monday, prompting concern from Japan, Australia, and New Zealand over regional security and military transparency. According to...

UN Rights Council Launches Sudan Probe Over RSF Violence in al-Obeid

The United Nations Human Rights Council on Monday approved a resolution condemning the escalating violence allegedly carried out by Sudans paramilitary Rapid Support Forces (RSF) in the city of al-Obeid and authorized an...

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

Russia launched a massive overnight missile and drone attack on Kyiv early Monday, killing at least 12 people and injuring more than 50, as Ukraine struggled to intercept ballistic missiles due to a critical shortage of...

Sara Duterte Impeachment Trial Opens, Putting 2028 Philippine Election in Focus

The impeachment trial of Philippine Vice President Sara Duterte officially began on Monday, marking the first impeachment proceedings against a sitting vice president in the countrys history. The closely watched case is...

Flavio Bolsonaro Urges Trump to Delay Brazil Tariffs Until After 2026 Election

Brazilian Senator Flavio Bolsonaro is set to ask the Trump administration during a hearing in Washington on Monday to postpone a proposed 25% tariff on Brazilian goods until after Brazils October 2026 presidential...

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

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...

Foxconn Q2 Revenue Surges Nearly 40% on Strong AI Server Demand

Foxconn, officially known as Hon Hai Precision Industry, reported a sharp rise in second-quarter revenue as booming demand for artificial intelligence infrastructure continued to drive growth across its cloud and...

Citi Raises TSMC Price Target as AI Chip Demand Strengthens Growth Outlook

Citi has raised its target price for Taiwan Semiconductor Manufacturing Co. (TSMC) to NT$3,800 from NT$2,875, while maintaining its Buy rating, citing stronger confidence in the chipmakers long-term growth as demand for...

AI Memory Chip Shortage Likely to Persist Despite Korea Investment Boom, Nomura Says

Concerns that a new wave of investment announcements by South Korean memory chipmakers could trigger another memory chip oversupply cycle may be exaggerated, according to Nomura analysts, who believe strong artificial...

Samsung Q2 Profit Seen Soaring as AI Memory Demand Keeps Chip Prices Elevated

Samsung Electronics is expected to report another record-breaking quarter as booming artificial intelligence (AI) demand continues to fuel higher memory chip prices and tighten global supply. Analysts estimate the South...