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US consumer services sector grows strongly in June on expansion of new business and employment

Jul 08, 2016 05:39 am UTC| Commentary Economy

Markits recent US Sector PMI data indicates a widespread recovery in growth at the end of second quarter of2016. All the seven monitored sectors, excluding industrials, witnessed a rapid growth or a deceleration in the...

Japan's May current account surplus hurt as yen rises

Jul 08, 2016 05:30 am UTC| Commentary

Japans May current account balance was hurt for the first time in nearly 2 years as a recent appreciation in the Japanese yen weighed on the countrys businesses, reducing profits in foreign investments, government data...

FxWirePro: The Day Ahead- 8th July 2016

Jul 08, 2016 04:17 am UTC| Commentary Economy

Not many economic dockets scheduled for today but some with high volatility risks associated. Data released so far: Japan Labor cash earnings declined by -0.2 percent in May. Upcoming: Japan: Eco...

Asian markets in red ahead of US NFP job results, gold stable above $1,350

Jul 08, 2016 04:13 am UTC| Commentary

All the major Asian stock markets are trading in red ahead of the big event for the day that is US NFP job data. Japanese yen gains against US dollar instead of lower than expected current account data and average cash...

China's June forex reserves grow by $20 billion

Jul 07, 2016 15:38 pm UTC| Commentary Central Banks

Data released by the Peoples Bank of China (PBoC) showed on Thursday that Chinas foreign exchange reserves in June unexpectedly rose by $20 billion to $3.21 trillion, rebounding from a 5-year low in May. Reserves...

UK May industrial production corrects lower after April’s surge

Jul 07, 2016 14:30 pm UTC| Commentary

UK industrial production declined 0.5 pct m/m in May, after seeing a 2.1 pct m/m surge in April. The decline was modest and better that expectations for a deeper contraction of 1 pct. Year-on-year industrial production...

June FOMC meeting’s minutes highlight a cautious Fed ahead of the UK’s referendum

Jul 07, 2016 13:52 pm UTC| Commentary

Minutes of the June FOMC meeting released on Wednesday highlighted a cautious committee ahead of the UKs EU referendum and uncertainty around the outlook for the US labour market following the weak April and May nonfarm...

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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...