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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...

USD/RUB likely to trade around 62.5 by end-2017, says Lloyds Bank

May 09, 2017 23:07 pm UTC| Commentary

The decline in crude oil prices in the past month resulted in the USD/RUB pair to come in at its low of 55.08. In the future, a combination of easy monetary policy and the requirement to rebuild both foreign exchange and...

EUR/CHF likely to gradually drift higher towards 1.11 by end-2017

May 09, 2017 22:57 pm UTC| Commentary

The reduction in political uncertainty after the outcomes of the Dutch and French election and the associated drop in safe-haven related flows, has alleviated the upward pressure on the Swiss franc, noted Lloyds Bank in a...

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...

Japanese yen likely to appreciate towards 108 by end-2017, says Lloyds Bank

May 09, 2017 22:45 pm UTC| Commentary

After the increased geopolitical tension around developments in North Korea in April, the Japanese currency advanced from haven flows. This boosted the yen to a new year-to-date high against the U.S. dollar to about JPY...

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...

Malaysian industrial production likely to have grown soundly in March, says DBS Bank

May 09, 2017 22:18 pm UTC| Commentary

Malaysias exports rose sharply in March. The sharp rise might imply good showing in industrial output for the month, noted DBS Bank in a research report. The March exports figure had surged 24.1 percent year-on-year. This...

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Economy

Canada Faces 50% U.S. Tariffs as Trade Tensions Threaten USMCA Talks

Canada is bracing for a new wave of 50% U.S. tariffs this week, raising concerns over job losses, weaker investment and fresh uncertainty surrounding the U.S.-Mexico-Canada Agreement (USMCA). U.S. President Donald Trump...

Wall Street Falls as Oil Prices Rise, Fed Minutes and Retail Earnings in Focus

Wall Street closed lower Monday as investors stepped back following a record-setting week, while rising oil prices and persistent Middle East tensions weighed on market sentiment. The SP 500 fell 0.5% to 7,748.14, the...

Citadel Warns High Treasury Yields Pose Broader Market Risks

The Federal Reserves monetary policy strategy following the recent inflation surge is helping keep long-term US Treasury yields near multiyear highs, potentially creating wider risks across financial markets, according to...

Oil Prices Rise as U.S.-Iran Tensions Grip Strait of Hormuz

Oil prices extended their gains Monday as escalating U.S.-Iran tensions over the Strait of Hormuz fueled concerns about global energy supplies and shipping disruptions. Brent crude futures for October delivery rose 2.5% to...

Dollar Slides as Soft U.S. Data Cuts Fed Rate Hike Bets

The U.S. dollar weakened against the euro and Swiss franc on Monday as softer economic data prompted traders to scale back expectations for another Federal Reserve interest rate hike. Concerns over U.S. economic growth...

Politics

Trump Says Kim Jong Un Responded to Outreach After US Scales Back South Korea Military Drills

U.S. President Donald Trump said Monday that North Korean leader Kim Jong Un has responded to his recent outreach, signaling renewed communication between the two leaders as Washington moves to reduce joint military...

Trump Says Iran Should Surrender as Nuclear Deal Talks Stall

U.S. President Donald Trump said Monday that Iran is unlikely to accept the agreement he considers necessary to end the war with the United States, insisting Tehran must surrender and abandon any path toward developing a...

Gérald Darmanin Backs Édouard Philippe for 2027 French Presidential Election

French Justice Minister Gérald Darmanin has thrown his support behind former Prime Minister Édouard Philippe for Frances 2027 presidential election, ruling out a potential bid of his own as the countrys...

Russia-Ukraine Drone Attacks Escalate as Strikes Hit Moscow, Kyiv and Romania

Russia and Ukraine exchanged major missile and drone attacks overnight, leaving several people dead and damaging industrial and commercial facilities as the war continues to intensify. Russian forces struck ArcelorMittal...

US CENTCOM Chief Praises USS Abraham Lincoln Crew Amid Mental Health Concerns

U.S. Central Command chief Admiral Brad Cooper praised the crew of the USS Abraham Lincoln following a recent visit to the aircraft carrier, describing their performance and resilience as awe-inspiring amid growing...

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

Anthropic Revenue Run Rate Hits $65 Billion as IPO Plans Accelerate

Anthropics annual revenue run rate surpassed $65 billion by the end of July, highlighting the artificial intelligence startups rapid expansion as it prepares for a potential initial public offering later this year. The...

Google to Buy Spirit Airlines Business Data for $10 Million to Train AI

Google, a subsidiary of Alphabet, has agreed to acquire internal business data from bankrupt Spirit Airlines for $10 million, with plans to use the information for product development and artificial intelligence training....

Alphabet Eyes First Australian Dollar Bond as AI Spending Drives Funding Push

Alphabet, the parent company of Google, is preparing for its first-ever Australian dollar bond issuance as the U.S. technology giant explores new funding sources amid rapidly rising artificial intelligence investment. The...

Alibaba Sells Lingxi Games for Over $1.5 Billion Amid AI Push

Alibaba Group is reportedly selling its gaming subsidiary Lingxi Games in a transaction that could value the Chinese video game studio at more than $1.5 billion, as the technology giant redirects resources toward...

Nvidia’s $500 Billion AI Infrastructure Push Wins Morgan Stanley Support

Nvidia is doubling down on the artificial intelligence infrastructure boom with a plan to help mobilize as much as $500 billion in third-party capital, drawing participation from major financial firms including Apollo,...