China’s robots can run faster than Usain Bolt – now they are being prepared for war 
Unsustainable – or manageable? We don’t yet know how data centres will impact Australia’s environment 
Physicists zoom into the birth of cosmic rainstorms with new CERN study 
Who should own the knowledge that underpins AI technology? 
Gold Slides to $4,262 as Hawkish Fed Rate Hike Triggers Technical Breakdown 
Big AI wants to slow down AI research. Is it a safety pause or a strategic retreat? 
1 in 3 uni students experience serious financial hardship. Could concession cards for all help? 
‘Buy now, pay later’ doesn’t feel like debt. For young people, that can be a big problem 
Europe can’t achieve space sovereignty alone. Here’s why 
Add as a preferred source on Google
Latest PMI report revealed that economic downturn is not done with. PMI index, which is a gauge for manufacturing slipped to 48.3 in July from 48.7 in June. A number below 50 indicates contraction and vice versa. Russian PMI has remained below 50 mark for eight consecutive month.
Key highlights -
- Output dropped for third consecutive month, indicating slowing demand.
- New orders and business continued to decline both in domestic front and from abroad.
- Due to weaker Rouble, input costs have surged, however companies as of now are not passing onto the customers.
- Jobs continued to get lost in the sector.
To add further to the woe, oil prices have slumped significantly over last few weeks.
- Price of Brent benchmark has fallen towards $50/barrel. Currently trading at $50.6/barrel. Oil is the major export revenue generator for Russia, which along with lower price, facing tougher competition from other oil exporters.
Active trading call -
- Long dollar against Rouble from 54, next target lies at 63. Small positions can be added targeting 70 mark, however expect higher volatility. Buying at correction is advised.
