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FxWirePro: The Day Ahead- 10th May 2017

May 10, 2017 04:00 am UTC| Commentary Economy Central Banks

Lots of economic data and events scheduled for today and some with high volatility risks associated. Data released so far: China: Consumer price inflation rose by 1.2 percent y/y in April. Producer price inflation...

Strong global economic growth momentum sustained in April, Euro area economy leads growth

May 09, 2017 22:49 pm UTC| Commentary Economy

The strong growth momentum of the global economy was sustained at the beginning of the second quarter of this year, showed the PMI survey data. This was despite signs of slower growth in the emerging markets. Out of the...

ANZ New Zealand monthly inflation gauge remains flat in April

May 09, 2017 22:33 pm UTC| Commentary Economy

ANZ New Zealand monthly inflation gauge remained flat in April. Pricing within the measure continues to show a wedge between increasing costs for housing versus flat-lining prices for most other products and services. The...

U.S. labor market conditions and momentum rebound in April, Fed likely to hike in June and September - Barclays

May 09, 2017 20:52 pm UTC| Economy Commentary

The Barclays Indicator of Labor Market Conditions and the Barclays Indicator of Labor Market Momentum show that the U.S. labor market conditions and momentum rebounded in April. Since the mid-2016, labor market conditions...

Is China to blame for the global avocado shortage?

May 09, 2017 15:45 pm UTC| Insights & Views Economy

Recent media reports of an avocado shortage have hipsters and foodies horrified the world over. Prices are at a record high as a result of a classic supply and demand situation. Harvests from major producers in Mexico,...

To get the 'good debt' tick, infrastructure needs to be fit for the future

May 09, 2017 15:06 pm UTC| Insights & Views Economy

In distinguishing between good and bad debt, federal Treasurer Scott Morrison equates good debt with infrastructure investment. However, not all infrastructure investment announced in the budget is necessarily good. We...

U.S. Treasuries disappoint ahead of 10-year auction, FOMC speeches

May 09, 2017 12:40 pm UTC| Commentary Economy

The U.S. Treasuries disappointed markets on Tuesday as investors look forward to a host of speeches from the Federal Open Market Committee (FOMC) members, scheduled for later today and through the week. Also, the 10-year...

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Economy

US Stock Futures Recover as Iran Signals Progress in Peace Talks

U.S. stock index futures pared earlier losses on Sunday night after Iran reported progress in ongoing peace negotiations held in Switzerland, easing investor concerns about escalating geopolitical tensions in the Middle...

Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook

Gold prices moved higher on Monday as investors closely followed developments in U.S.-Iran negotiations and evaluated the future direction of U.S. monetary policy after the Federal Reserves recent hawkish stance. Spot gold...

Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns

Oil prices fell on Monday as progress in U.S.-Iran negotiations reduced fears of a potential supply disruption in global energy markets. The decline came after Iranian officials announced they had secured waivers for oil...

Russian Stocks End Flat as MOEX Index Hits New 52-Week Low

Russian stocks closed largely unchanged on Sunday, with the MOEX Russia Index ending the session flat at 0.00% while marking a new 52-week low. The lack of movement across major Russian equities reflected a subdued trading...

France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi

France may remain stuck in a prolonged period of weak domestic demand, low inflation, and fiscal challenges as structural shifts in its labor market make the economy more vulnerable to high interest rates than other...

Politics

Pedro Sanchez’s Wife Ordered to Stand Trial in Spain Corruption Case

Spanish Prime Minister Pedro Sanchezs wife, Begoña Gomez, has been ordered to stand trial on corruption-related charges and has been barred from leaving Spain, according to a ruling issued by Judge Juan Carlos...

Moscow Downs Dozens of Ukrainian Drones as Airports Halt Flights Amid Escalating Attacks

Russias capital, Moscow, came under a major drone attack early Monday, with air defense systems intercepting nearly 60 Ukrainian drones heading toward the city, according to Mayor Sergei Sobyanin. The incident briefly...

China Adds MP Materials, USA Rare Earth to Export Control List Amid Escalating U.S.-China Trade Tensions

China has expanded its export control measures by adding two major U.S. rare earth companies, MP Materials Corp (NYSE: MP) and USA Rare Earth Inc (NASDAQ: USAR), to its export control list, according to a notice issued by...

US-Iran De-Escalation Shifts Washington’s Focus to AI Regulation and Crypto Legislation

A potential easing of tensions between the United States and Iran is redirecting Washingtons attention toward major technology policy initiatives and executive actions, according to a new report from Wolfe Research. The...

Pirro Warns of Prosecution for Lincoln Memorial Reflecting Pool Vandalism Amid Renovation Issues

People caught vandalizing the Lincoln Memorial Reflecting Pool on Washingtons National Mall will face full prosecution, according to U.S. Attorney Jeanine Pirro. Her comments come as concerns grow over damage and...

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

Google’s Open-Source AI Data Center Cooling Design Raises Commoditization Concerns

Googles newly introduced open-source liquid-cooling design for AI data centers is drawing attention across the data center infrastructure industry, with analysts suggesting it could accelerate the commoditization of...

John Jumper Leaves Google DeepMind for Anthropic Amid Intensifying AI Talent Race

John Jumper, the Google DeepMind researcher who shared the 2024 Nobel Prize in Chemistry for his groundbreaking work on the AlphaFold artificial intelligence system, has announced that he is leaving Google DeepMind to join...

Trump Says Anthropic No Longer Seen as National Security Threat

U.S. President Donald Trump said he no longer views artificial intelligence company Anthropic as a national security threat, marking a significant shift from his stance just a week earlier. The comments came during an...

Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks

Meta Platforms is reportedly lobbying U.S. lawmakers to include legal protections for social media companies in the proposed Kids Online Safety Act (KOSA), a move that could significantly impact thousands of lawsuits...

SpaceX Stock Slides After IPO Rally as Valuation Concerns Grow

SpaceX (NASDAQ: SPCX) shares extended their pullback on Thursday after a remarkable post-IPO rally, as investors locked in profits and questioned the companys lofty valuation. The stock, which dropped nearly 10% earlier in...