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FxWirePro: Asian markets noticeably down, gold touches $1,327 mark

Jun 04, 2019 05:17 am UTC| Commentary

All the major Asian indices were trading on a lower note on Tuesday. Gold was trading around $1,323 mark while silver was trading around $14.72 mark. Japans Nikkei was trading 0.18 pct lower at 20,375.49...

FxWirePro: The Day Ahead- 4th June 2019

Jun 04, 2019 05:01 am UTC| Commentary

Not many economic data and events scheduled for today, but some with high volatility risks associated. Data released so far: Australia: Retail sales declined 0.1 percent m/m in April. Q1 current account balance...

RBI likely to deliver 25 bp rate cut amid India’s benign inflation, aim to stimulate nation’s economic growth: Scotiabank

Jun 04, 2019 04:34 am UTC| Commentary Central Banks Economy

The Reserve Bank of India (RBI) is expected to deliver a 25 bp rate cut amid Indias benign inflation on Thursday afternoon, with the aim of stimulating the nations economic growth that slowed to 5.8% yoy in the...

U.S. construction spending comes in flat in April

Jun 03, 2019 19:26 pm UTC| Commentary

U.S. construction spending came in flat in April, as compared with expectations of a modest rise of 0.4 percent. The miss relative to forecast was due to unexpected softness in private construction spending, which dropped...

U.S. ISM manufacturing index drops to 52.1 in May

Jun 03, 2019 17:55 pm UTC| Commentary

The U.S. ISM manufacturing index dropped in May to 52.1 from Aprils 52.8, coming in below market expectations of a slightly rise to 53. The details came in mixed. The production sub-index dropped to 51.3, while backlog of...

U.S. manufacturing sector’s health rebounds only marginally, PMI index falls in May to lowest since September 2009

Jun 03, 2019 16:25 pm UTC| Commentary

The health of the U.S. manufacturing sector saw only a marginal rebound. The seasonally adjusted IHS Markit manufacturing PMI index dropped to 50.5 in May from Aprils 52.6. This is the lowest since September 2009. The...

Brazilian manufacturing sector stagnates in May, IHS manufacturing PMI index falls to 50.2

Jun 03, 2019 14:16 pm UTC| Commentary

Brazilian manufacturing industrys operating conditions rebounded just marginally in May in the midst of weaker output growth, a renewed fall in sales and job shedding. The IHS Markit Brazil Manufacturing PMI index dropped...

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Economy

Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data

Most Asian currencies traded within a narrow range on Tuesday, while the U.S. dollar remained under pressure as investors stayed cautious ahead of several crucial U.S. economic indicators, starting with the nonfarm...

Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data

Gold and silver prices edged lower in Asian trading on Tuesday as investors booked profits after a strong rally, while global markets turned cautious ahead of critical U.S. economic data. The pullback comes after precious...

Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge

South Koreas central bank has pushed back against claims that excessive domestic liquidity is the main driver behind the weakening won and rising residential property prices, calling such arguments an overstatement. In a...

Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface

Australian consumer sentiment weakened sharply in early December, according to a private survey released on Tuesday, highlighting growing concerns about inflation and the broader economic outlook. The latest...

Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data

Wall Street futures edged lower on Monday evening as technology stocks remained under pressure following several weak sessions, while investors turned cautious ahead of critical US labor market and inflation data. Market...

Politics

European Leaders Tie Ukraine Territorial Decisions to Strong Security Guarantees

European leaders have agreed that any decisions regarding potential Ukrainian territorial concessions to Russia can only be considered once strong and credible security guarantees are firmly in place, according to a joint...

Sydney Bondi Beach Terror Attack Kills 16, Sparks Gun Law and Security Debate

Australian authorities are investigating a deadly mass shooting at a Hanukkah celebration near Sydneys Bondi Beach as a suspected act of terrorism inspired by Islamic State, marking the countrys worst mass shooting in...

Trump’s Rob Reiner Remarks Spark Bipartisan Outrage After Tragic Deaths

President Donald Trump is facing sharp bipartisan criticism after posting controversial remarks about actor and director Rob Reiner following the shocking deaths of Reiner and his wife, Michele Reiner. The comments, shared...

Taiwan Political Standoff Deepens as President Lai Urges Parliament to Withdraw Disputed Laws

Taiwans political crisis has intensified as President Lai Ching-te warned that the islands global credibility and economic competitiveness are at risk, urging parliament to withdraw a series of controversial laws opposed...

Trump Weighs Reclassifying Marijuana as Schedule III, Potentially Transforming U.S. Cannabis Industry

U.S. President Donald Trump said he is considering an executive order to reclassify marijuana as a less dangerous drug, a move that could significantly reshape federal cannabis policy and the broader marijuana industry. If...

Science

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...

Trump and Merck KGaA Partner to Slash IVF Drug Costs and Expand Fertility Coverage

U.S. President Donald Trump and German pharmaceutical company Merck KGaA have announced a groundbreaking deal aimed at lowering the cost of in-vitro fertilization (IVF) treatments while boosting access to fertility care in...

Technology

Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push

Chinese artificial intelligence chip startup Biren Technology is preparing to launch a Hong Kong initial public offering (IPO) in the coming weeks, according to multiple sources familiar with the matter. The Shanghai-based...

SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market

SUPERFORTUNE, a web3 AI application incubated by Manta Network, has launched its first mobile application, expanding beyond crypto-native users into the global consumer market. The SUPERFORTUNE mobile app delivers...

iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures

iRobot, the company behind the popular Roomba robotic vacuum cleaner, has filed for Chapter 11 bankruptcy protection in the United States as it prepares to go private through an acquisition by Picea Robotics, its primary...

Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges

Nvidia is evaluating whether to expand production capacity for its powerful H200 artificial intelligence chips after demand from Chinese customers significantly exceeded current supply, according to multiple sources...

SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles

SpaceX has reportedly begun the early stages of preparing for a potential initial public offering (IPO), marking a significant milestone for the private aerospace company founded by Elon Musk. According to a report from...