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FxWirePro: USD/CNY takes halt around 6.85 mark, PBOC sets yuan mid-point at 6.8431

Aug 07, 2018 06:41 am UTC| Technicals

USD/CNY is currently trading around 6.8478 marks. It made intraday high at 6.8619 and low at 6.8456 levels. Intraday bias remains neutral for the moment. A sustained close above 6.8510 marks will test key...

FxWirePro: Gold continues to trade weak on strong US dollar , good to sell on rallies

Aug 07, 2018 06:17 am UTC| Technicals

Overall trend - bearish Gold is continuing its weakness for second consecutive week on account of strong US dollar. Hawkish Fed and escalating trade tensions is supporting US dollar. US dollar index hits 2 week high and...

FxWirePro: NZD/USD buzzing bears on triple top pattern, minor trend shrugs-off hammer – Trade boundary strikes and short hedge ahead of RBNZ

Aug 07, 2018 05:59 am UTC| Technicals Insights & Views

On the major trend,NZDUSDforms triple top pattern with top1 at 0.7485, top2 at 07558, top3 at 07437 and neckline at 06787 levels. Consequently, bears are extending price slumps. Please observe steep slumps below EMAs...

FxWirePro: EUR/CHF recovery capped at daily cloud, weakness to resume on break below 61.8% Fib

Aug 07, 2018 05:49 am UTC| Technicals

Refer EUR/CHF chart on Trading View EUR/CHF struggles to extend weakness below 61.8% Fib, edges higher for the 2nd straight session. However, recovery finds stiff resistance at nearly converged 5-DMA and daily...

FxWirePro: EUR/CAD capped below 5-DMA, focus on German industrial production and trade balance data for further impetus

Aug 07, 2018 05:17 am UTC| Technicals

Refer EUR/CAD chart on Trading View EUR/CAD is consolidating break below 61.8% Fib, bias bearish. Data released on Monday showed German factory orders contracted by 4% m/m in June, below analysts estimate of...

FxWirePro: NZD/JPY hovers above 61.8% Fib, break below to see further weakness

Aug 07, 2018 04:34 am UTC| Technicals

Refer NZD/JPY chart on Trading View NZD/JPY is trading in a narrow range, with a days high at 75.00 and low at 74.86. The pair is extending declines for the 5th straight session and bias remains...

FxWirePro: Taiwanese dollar trades marginally lower ahead of CPI, trade balance data

Aug 07, 2018 04:15 am UTC| Technicals

USD/TWD is currently trading around 30.60 marks. It made intraday high at 30.66 and low at 30.57 marks. Intraday bias remains neutral till the time pair holds key support at 30.50 mark. A daily close above...

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Economy

Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts

U.S. President Donald Trump traveled to the battleground state of North Carolina on Friday to defend his economic policies and reassure voters that the U.S. economy remains on solid footing, as concerns grow ahead of a...

EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls

Ukraine welcomed a major European Union decision on Friday to provide 90 billion in financial support over the next two years, a move Kyiv says will significantly strengthen its economic resilience amid the ongoing war...

Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts

White House economic advisor Kevin Hassett said President Donald Trump is correct in claiming inflation is low, despite official data, public sentiment, and many economists suggesting otherwise. Speaking on Fox Business,...

U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness

U.S. stocks closed higher on Friday, recovering from a volatile start to the week as gains in technology and AI-related shares outweighed sharp declines in consumer stocks such as Nike. Major indexes finished in positive...

EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks

The European Union has decided to delay the formal signing of its long-anticipated free trade agreement with the Mercosur bloc, as EU leaders convened in Brussels to prioritize discussions on funding Ukraines war effort....

Politics

U.S. Launches Large-Scale Airstrikes on ISIS Targets in Syria After Deadly Attack

The United States military carried out extensive airstrikes against Islamic State (ISIS) targets across Syria on Friday, escalating its response after a deadly attack on American personnel, according to U.S. officials. The...

Putin Envoy Heads to Miami for High-Stakes Talks as U.S. Pushes Ukraine Peace Deal

Russian President Vladimir Putins special envoy Kirill Dmitriev is traveling to Miami for talks with U.S. President Donald Trumps envoy Steve Witkoff and Trumps son-in-law Jared Kushner, according to a Russian source cited...

Russian Missile Strike on Odesa Port Kills Seven, Disrupts Key Trade Routes

A Russian missile attack late on Friday struck critical port infrastructure near Ukraines Black Sea port city of Odesa, killing at least seven people and injuring 15 others, according to Ukrainian officials. The attack...

Trump Nominates Lt. Gen. Frank Donovan to Lead U.S. Southern Command Amid Rising Tensions in Latin America

U.S. President Donald Trump has nominated Lieutenant General Frank Donovan, the vice commander of U.S. Special Operations Command, to become the next head of U.S. Southern Command (SOUTHCOM), the military body responsible...

Brazil Court Allows Bolsonaro Hospital Trip Amid Prison Sentence

Brazils Supreme Court Justice Alexandre de Moraes has authorized former President Jair Bolsonaro to temporarily leave the Federal Police Superintendency in Brasília, where he is currently serving a 27-year prison...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties

A group of nine Republican U.S. lawmakers has formally urged the Pentagon to expand its list of Chinese companies accused of supporting Chinas military, intensifying scrutiny of Beijing-linked technology firms amid rising...

Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role

Dina Powell McCormick has resigned from Meta Platforms board of directors effective immediately, just eight months after joining the social media company, Meta confirmed on Friday. The unexpected departure comes at a time...

TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement

TikTok has taken a major step toward securing its future in the United States after its Chinese parent company, ByteDance, announced it has signed binding agreements with three major investors to form a new joint venture...

Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy

The U.S. government under President Donald Trump has launched a formal review that could pave the way for the first-ever shipments of Nvidias H200 artificial intelligence chips to China, according to multiple sources...

Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz

Oracle Corporation (NYSE: ORCL) shares surged sharply in extended trading on Thursday, reflecting renewed investor optimism fueled by reports of a potential U.S. TikTok transaction and fresh fundraising discussions...