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FxWirePro: The Day Ahead- 15th July 2016

Jul 15, 2016 04:27 am UTC| Commentary Economy

Lots of economic dockets scheduled for today and some with high volatility risks. Data released so far China: GDP grew 6.7 percent in second quarter from a year back and 1.8 percent on quarterly basis. Urban...

Asian markets higher, gold recovers from fresh 10-day low

Jul 15, 2016 03:42 am UTC| Commentary

Most Asian markets are trading on a higher note on Friday. On the other side, dollar rises above 106 yen for first time since Brexit referendum. Yesterday gold hit fresh 10-day low at $1,320 mark and currently trading...

Chart of the Day Series

Chart of the Day: Crown jewel of the UK

Jul 14, 2016 17:04 pm UTC| Commentary

In 2014, the United Kingdom cleared $927.8 billion Euro-denominatedderivatives daily. France, the biggest rival cleared just 15.2 percent of that. The United States cleared less than 3 percent of that. Eurozones three...

Bank of England surprises markets with inaction, GBP spikes in response

Jul 14, 2016 15:38 pm UTC| Commentary

Bank of England surprises markets with inaction, holds key interest rate steady despite uncertainty over Brexit. Although, it signaled that a potential cut could come next month in a bid to bolster the economy. UKs MPC...

Irish GDP growth rate for 2015 revised to 26.3 percent from 7.8 percent

Jul 14, 2016 15:07 pm UTC| Commentary

Irelands economic growth for 2015 was revised to 26.3 percent from 7.8 percent. The dramatic revisions released on Thursday primarily reflect reclassifications and relocations of a handful of companies that are very large...

Czech Republic posts smallest current account surplus this year in May, dividend outflow drags

Jul 14, 2016 14:14 pm UTC| Commentary

Czech Republic current account data released earlier on Thursday showed the smallest surplus so far this year in May (about 1 billion EUR). Outflow of dividends that reached 17 billion CZK (about 0.6 billion EUR) is likely...

Bank of Korea holds rates, maintains easing bias

Jul 14, 2016 13:51 pm UTC| Commentary

The Bank of Korea (BOK) kept its policy rates unchanged at 1.25 percent at Thursdays policy meet, in line with market expectations. The central bank lowered 2016 GDP forecast by 0.1 percent point to 2.7 percent, and...

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Economy

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...

Asian Markets Slip as AI Earnings Season Looms, Oil Prices Fall Ahead of Key Fed Signals

Asian stock markets traded lower on Monday as investors turned cautious ahead of a critical earnings season expected to highlight the strength of artificial intelligence (AI) demand. At the same time, falling oil prices...

Japan Defense Stocks Rally on Report of New Defense Ministry Bureau for Global Cooperation

Japanese defense-related stocks rallied sharply on Monday after a report by the Yomiuri newspaper said the government is preparing to establish a new bureau within the Ministry of Defense to strengthen international...

Politics

Australian PM Anthony Albanese Apologizes After Kylie Minogue Podcast Remarks Spark Backlash

Australian Prime Minister Anthony Albanese issued a public apology on Monday after making controversial remarks about pop icon Kylie Minogue during a comedy podcast interview, drawing criticism from opposition lawmakers...

Iran Begins Oil Sale Talks With Japan Under U.S. Sanctions Waiver Amid Shipping Risks

Iran has opened preliminary discussions with Japanese companies about resuming crude oil exports under a temporary U.S. sanctions waiver, although potential buyers are seeking a longer exemption and stronger assurances...

Trump to Meet Zelenskiy at NATO Summit in Turkey to Push Ukraine Peace Efforts

U.S. President Donald Trump is set to meet Ukrainian President Volodymyr Zelenskiy during this weeks NATO summit in Turkey as part of a renewed diplomatic effort to end the war in Ukraine, according to a senior U.S....

Israel Cabinet Rejects Supreme Court Ruling, Sparking Constitutional Crisis Fears

Israels cabinet has voted to reject a Supreme Court ruling involving the countrys broadcast regulator, triggering fresh concerns over a potential constitutional crisis and deepening tensions between Prime Minister Benjamin...

Israeli Airstrike Kills Two in Gaza City as Ceasefire Violations and Truce Talks Persist

At least two Palestinians were killed and several others were wounded in an Israeli airstrike in central Gaza City on Sunday, according to Palestinian health officials, as violence continued despite an October ceasefire...

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

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...

Meta Cloud Ambitions Could Challenge AWS, Azure, and Google Cloud, Says Morgan Stanley

Meta Platforms (NASDAQ: META) is preparing to expand into the cloud computing market, a move that could position the company as a future rival to Amazon Web Services (AWS), Microsoft Azure, and Google Cloud. According to...