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US housing starts rise in June; near-to medium-term homebuilding outlook remains favorable

Aug 17, 2016 06:13 am UTC| Commentary Economy

US housing starts increased in June, surpassing expectations of a modest pullback. Housing starts rose by 25,000 units to 1,211k (annualized), as compared with expectations to a decline to 1,180k. But the earlier two...

Canada’s manufacturing sales recover slightly in June

Aug 17, 2016 06:09 am UTC| Commentary Economy

Manufacturing sales in Canada rebounded slightly in June and came in slightly higher than consensus projection. Manufacturing shipment rose 0.8 percent, following a decline of 1 percent in May. Consensus expectation was...

Fed Hike Aftermath Series

Fed Hike Aftermath Series: Hike odds climb to 50 percent on policymakers’ comments

Aug 17, 2016 06:09 am UTC| Commentary Central Banks Economy

The market is now evenly divided in its opinion of a rate hike from the U.S. Federal Reserve. After the Britons voted to exit from the European Union in the June referendum, hike odds for this year declined to 10 percent,...

China’s power consumption jumps three-fold in July

Aug 17, 2016 06:07 am UTC| Commentary Economy

Power consumption by China jumped more than three-fold during the month of July, compared to the same period a year ago, data released by the countrys economic planner confirmed Tuesday. In July alone, electricity...

FxWirePro: The Day Ahead- 17th August, 2016

Aug 17, 2016 05:09 am UTC| Commentary Economy

Not many economic dockets scheduled for today but some with high volatility risks associated. Data released so far: Australia: Wages grew by 0.5 percent in the second quarter, up 2.1 percent from a year ago....

Briferendum Aftermath Series

Fitch: Brexit likely to weigh on UK property sector over the longer-term

Aug 16, 2016 15:39 pm UTC| Commentary Real Estate Economy

According to the Office for National Statistics (ONS), average UK house price rose by 8.7 percent over the year to June 2016, up from a revised 8.5 percent growth in May. Data showed that price growth in the UK housing...

Chart of the Day Series

Chart of the Day: Back to pre-Brexit low

Aug 16, 2016 12:59 pm UTC| Commentary Economy

We, at FxWirePro, have been calling for selloffs in the dollar for quite some time now. This chart from Bloomberg, shared by Paul Dobson shows the continued weakness in the green buck. The dollar has given up all of its...

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Economy

India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out

India and the United States have taken a significant step toward strengthening bilateral trade ties with the release of an interim trade framework that includes major tariff reductions on high-end American automobiles and...

Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality

Donald Trump has positioned himself as the Republican Partys chief voice on the cost of living during a pivotal election year, but a Reuters review of his recent speeches shows a growing disconnect between his rhetoric and...

South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom

South Africa is keen to make use of potential new European Central Bank (ECB) repo liquidity lines, according to central bank governor Lesetja Kganyago, as the country continues to navigate easing inflation and a gradual...

Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength

Russian stocks finished the latest trading session on a mixed note, with the MOEX Russia Index closing flat as gains in select blue-chip shares were offset by losses in others. At the close of trading in Moscow, the...

China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices

Chinas central bank has continued to strengthen its gold reserves, extending its buying streak to a 15th consecutive month in January, according to the latest data released by the Peoples Bank of China (PBOC). The move...

Politics

Jack Lang Resigns as Head of Arab World Institute Amid Epstein Controversy

Jack Lang, a prominent French political figure and former culture minister under President François Mitterrand, has stepped down from his role as president of the Arab World Institute in Paris following mounting...

US Pushes Ukraine-Russia Peace Talks Before Summer Amid Escalating Attacks

The United States is pressing Ukraine and Russia to reach an agreement to end the war before the start of summer, Ukrainian President Volodymyr Zelenskiy said following two days of U.S.-brokered talks held in Abu Dhabi....

Netanyahu to Meet Trump in Washington as Iran Nuclear Talks Intensify

Israeli Prime Minister Benjamin Netanyahu is expected to meet U.S. President Donald Trump in Washington on Wednesday, with Irans nuclear program and regional security topping the agenda. The meeting comes amid renewed...

Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape

U.S. President Donald Trump has publicly endorsed a proposed merger between Nexstar Media Group and Tegna, signaling renewed political attention on the future of local television broadcasting. In a post shared Saturday on...

Japan Election 2026: Sanae Takaichi Poised for Landslide Win Despite Record Snowfall

Japanese voters headed to the polls on Sunday in a rare winter election that could deliver Prime Minister Sanae Takaichi a commanding mandate, even as record snowfall threatened to suppress turnout in parts of the country....

Science

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

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...

Technology

Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge

Nvidia (NASDAQ: NVDA) CEO Jensen Huang reaffirmed his bullish stance on artificial intelligence, calling the massive capital expenditure flowing into AI infrastructure both appropriate and necessary as the industry...

Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate

Amazon.com (NASDAQ:AMZN) delivered a mixed but closely watched earnings report, beating Wall Street expectations on revenue while unveiling a massive long-term investment plan that unsettled investors. The e-commerce and...

Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch

Major PC manufacturers including HP, Dell, Acer, and Asus are reportedly exploring the option of sourcing memory chips from Chinese semiconductor companies for the first time, as a prolonged global supply crunch continues...

OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering

OpenAI is significantly accelerating its enterprise AI strategy by hiring hundreds of new employees for its technical consulting division, according to a report by The Information, citing a person familiar with the...

SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off

SoftBank Group Corp. (TYO:9984) shares tumbled sharply on Thursday, tracking a steep decline in Arm Holdings (NASDAQ:ARM) after the UK-based chip designer reported weaker-than-expected earnings for the December quarter....