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FxWirePro: The Day Ahead- 17th April 2017

Apr 17, 2017 04:11 am UTC| Commentary Economy Central Banks

Not many economic dockets and events scheduled for today and all with low to medium volatility risks associated. Data released so far: China: GDP grew by 1.3 percent in the first quarter, up 6.9 percent from a...

Changes to U.S. trade policy pose greatest risk to Canada’s economic outlook, warns Bank of Canada

Apr 14, 2017 15:00 pm UTC| Commentary Economy Central Banks

Bank of Canada held interest rate unchanged at 0.5 percent at its latest policy decision on Wednesday,but warned of persistent risks that suggest it will not hike anytime soon. In January, BoC governor Poloz had left the...

U.S. weekly jobless claims unexpectedly edge lower, signal strength in labor market

Apr 14, 2017 14:42 pm UTC| Commentary

According to a report released by the Labor Department on Thursday, U.S. weekly jobless claims unexpectedly fell in the week ended April 8th. It was the third straight weekly decline in claims and suggested that the U.S....

U.S. University of Michigan consumer sentiment beats expectations, strengthens further in April

Apr 14, 2017 14:04 pm UTC| Commentary

The University of Michigan index of consumer sentiment rose unexpectedly to 98 in the preliminary April estimate and reached its highest levels since January 2015. Consumer optimism on current economic conditions climbed...

China’s foreign direct investment growth rises 6.7 pct in March

Apr 14, 2017 13:34 pm UTC| Commentary

Chinas foreign direct investment (FDI) rose 6.7 percent year-on-year in March to reach 87.8 billion yuan (US$12.8 billion), the Ministry of Commerce said in a statement. The rise in March was slower compared to growth rate...

Central Banking Series

Monetary Authority of Singapore keeps monetary policy unchanged as widely expected

Apr 13, 2017 15:40 pm UTC| Commentary Central Banks Economy

The Monetary Authority of Singapore (MAS) kept its monetary policy unchanged on Thursday as widely expected. As indicated in the October meeting, policymakers observed that a neutral policy stance is appropriate for an...

Oil in Global Economy Series

OPEC upgrades 2017 global oil demand growth forecast to 1.27 million barrels per day

Apr 13, 2017 15:03 pm UTC| Commentary

OPEC upgraded its 2017 global demand growth forecast to 1.27 million barrels per day, an upwards revision of 10,000 barrels per day as thirst from Asia rises. In its new monthly oil report on Wednesday, OPEC pointed to an...

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Economy

US Dollar Hovers Near Multi-Month Lows as Fed Rate Hike Bets Ease

The U.S. dollar remained near multi-month lows against major currencies on Tuesday as softer economic data reduced expectations for an imminent Federal Reserve interest rate hike. However, escalating Middle East tensions...

Australian Consumer Sentiment Jumps 6% in August as Rate Outlook Improves

Australian consumer sentiment strengthened sharply in August, driven by improving household finances and greater confidence about the outlook for interest rates, according to the latest Westpac-Melbourne Institute survey....

Gold Prices Hold Near $4,400 as Fed Rate Hike Bets Fade

Gold prices remained close to the $4,400-an-ounce mark on Tuesday as weaker U.S. economic data reduced expectations for further Federal Reserve tightening, while escalating Middle East tensions boosted safe-haven demand....

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

Oil prices climbed on Tuesday as escalating Iran-U.S. tensions reduced hopes for a permanent Middle East ceasefire, raising concerns over global energy supplies and continued disruptions through the Strait of Hormuz. Brent...

Colombia Earthquake Losses Estimated at $9.58 Billion as Reconstruction Challenge Mounts

Economic losses from the powerful earthquake that struck Colombia last week could reach 30 trillion pesos ($9.58 billion), President Abelardo De La Espriella said Monday, highlighting the enormous financial toll of the...

Politics

Trump Approval Rating Hits Presidency Low as Iran War Concerns Grow

President Donald Trumps approval rating has fallen to the lowest point of his presidency as Americans grow increasingly concerned about the prolonged U.S. conflict with Iran and rising gasoline prices, according to a...

South Korea’s Lee Calls for Stronger Defence as US Eyes Reduced Joint Drills

South Korean President Lee Jae Myung called for stronger independent defence capabilities on Tuesday, stressing that Seoul must enhance its military readiness while maintaining its alliance with the United States. Lees...

Erdogan Urges Trump to Resume Iran Talks, Offers Turkey’s Support for Peace Efforts

Turkish President Recep Tayyip Erdogan has urged U.S. President Donald Trump to prioritize diplomacy with Iran as tensions between Washington and Tehran remain high, offering Turkeys support for efforts to secure a lasting...

US Eyes Refinery Boost as Trump Seeks Relief From High Gas Prices

U.S. Energy Secretary Chris Wright said Washington is preparing measures to help refiners increase fuel production as the Trump administration looks for ways to bring down gasoline prices following the U.S.-Israeli war on...

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...

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 to Move All Pixel Production Out of China by 2027

Google plans to shift production of its Pixel smartphones, smartwatches and wireless earbuds entirely out of China beginning in 2027, according to a Nikkei Asia report. The technology giant is expected to rely on...

BofA Sees Micron EPS Topping $230 by 2030, Backs Major Stock Upside

Bank of America expects Micron Technology (NASDAQ: MU) to deliver more than $230 in earnings per share by fiscal 2030, significantly above Wall Streets current peak estimates, as artificial intelligence demand reshapes the...

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...