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Wed, Dec 25, 2024 04:54 PM All times are UTC

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FxWirePro: NZD/USD edges higher but outlook bearish

Dec 16, 2024 06:14 am UTC| Technicals

The NZD/USD edhed higher on Monday as investors digested latest data from its largest trading partner China. Data showed that Chinas industrial output increased by 5.4% year-on-year in November, up from 5.3% growth in...

FxWirePro: AUD/ USD hovers nears near 1-year low, bias remains bearish

Dec 16, 2024 05:55 am UTC| Technicals

AUD/USD edged higher on Monday but remained close to a one-year low as markets evaluated the likelihood of U.S. policy easing beyond this week. The Federal Reserve meets on Wednesday and it is expected to cut rates by...

FxWirePro:GBP/NZD under pressure as disappointing UK data weighs on the sterling

Dec 13, 2024 22:44 pm UTC| Technicals

GBP/NZD dipped on Friday as pound was dragged down by soft UK GDP data. Official data showed that UK economic activity contracted by 0.1% in October.Economists had anticipated a 0.1% growth, following a 0.1% decline in...

FxWirePro: EUR/NZD steadies around 1.8265, retains bid tone

Dec 13, 2024 22:02 pm UTC| Technicals

EUR/NZD strengthened on Friday as the euro recovered its recent losses on short-covering and higher bund yields. Four European Central Bank policymakers backed further interest rate cuts on Friday provided that...

FxWirePro: EUR/AUD extends gains, faces 23.6%fib resistance

Dec 13, 2024 21:44 pm UTC| Technicals

EUR/AUD rose on Friday as euro clawed back some recent losses amid short-covering and firmer bund yields. Following the ECBs 25 basis point rate cut to 3% and the opening for additional reductions, euro saw a sharp...

FxWirePro: EUR/CAD range to extend until there is game changing news

Dec 13, 2024 17:11 pm UTC| Technicals

EUR/CAD rose on Friday as the Canadian dollar weakened following the Bank of Canadas rate cut and the potential for U.S. tariffs on Canada The Bank of Canada cut its key rate by 50 basis points to 3.25% on Wednesday to...

FxWirePro: USD/CAD bulls undeterred, eyes 1.4300 level

Dec 13, 2024 16:32 pm UTC| Technicals

USD/CAD strengthened on Friday as rate cut by the BoC and the threat of U.S. tariffs on Canada weighed on Canadian dollar. The Bank of Canada cut its key rate by 50 basis points to 3.25% on Wednesday to address slower...

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Economy

China Approves New VAT Law Effective 2026 to Boost Key Sectors and Economic Recovery

China has passed a comprehensive value-added tax law, effective in January 2026, consolidating regulations and offering targeted exemptions for sectors like agriculture, research, and welfare institutions. The reform aims...

Sam Altman Says Superintelligence Will Ignite a 10X Boom in AI Breakthroughs Transforming the Future of Innovation

Sam Altman envisions a world where superintelligence propels AI innovation 10x faster than expected, transforming global progress and redefining humanitys future. Early Arrival of AGI Sparks Debate The most noteworthy is...

China's WuXi AppTec Exits Gene Therapy Market Amid US Restrictions and Security Concerns

Chinas WuXi AppTec has signed an agreement to sell its gene therapy manufacturing arm, WuXi Advanced Therapies, to U.S.-based Altaris LLC, following mounting restrictions on Chinese firms in the United States over national...

American Airlines Christmas Eve Flight Delays Resolved After Hour-Long Grounding Caused by Technical Glitch

A technical glitch caused American Airlines to ground flights for an hour on Christmas Eve, delaying thousands of passengers during one of the busiest travel periods of the year. Operations resumed quickly, sparing the...

S&P 500 Climbs Ahead of Christmas Break with Tech Gains and $10B Equity Inflows

The SP 500 rose 1.1% Tuesday as tech stocks extended their rally. Equity inflows reached $10 billion, marking the largest since January 2017, while trading activity thinned ahead of the Christmas holiday. Tech Stocks...

Politics

Biden’s Holiday Bill’ Sparks Controversy Over Lawmaker Pension Ban and Clemency Actions

President Joe Biden finalized a wave of legislative measures on Christmas Eve, signing at least 50 bills into law, including a new provision targeting corrupt lawmakers pensions. The legislation has stirred widespread...

Bannon’s Fiery Warning’ Sparks Speaker Mike Johnson Leadership Debate in Congress

Right-wing commentator and MAGA movement leader Steve Bannon has issued a stark warning about House Speaker Mike Johnsons leadership, claiming his continued tenure could jeopardize President-elect Donald Trumps legislative...

Pope Francis’ ‘Bold’ Call for Russia-Ukraine Peace Talks Stirs Debate During Christmas Address

In his annual Christmas Urbi et Orbi address, Pope Francis delivered a fervent plea for an end to the Russia-Ukraine War, urging global leaders to embrace reconciliation and dialogue. Speaking from the central balcony of...

Toyota and Ford’s ‘Staggering’ $1 Million Donations to Trump’s Inauguration Spark Intense Public Debate

Automotive giants Toyota and Ford are facing scrutiny after federal filings revealed both companies contributed $1 million each to former President Donald Trumps 2017 inauguration. The donations, while legal, have...

Denmark’s Greenland Security Upgrade Sparks Debate Following Trump’s Renewed Interest in Arctic Territory

Denmark has announced plans to bolster Greenlands security, emphasizing that the move was already in the pipeline prior to former U.S. President Donald Trumps controversial comments about acquiring the Arctic territory....

Science

Philippines' 'Missile Acquisition' Plan Provokes China's 'Arms Race' Warning

The Philippines has announced plans to acquire the U.S.-developed Typhon missile system to bolster its maritime defense capabilities. This decision has elicited strong reactions from China, which warns that such a move...

Christmas Eve Asteroid' to Skim Past Earth at 14,743 mph Tonight, NASA Warns

NASA has announced that an asteroid, comparable in size to a 10-story building, will make a close approach to Earth on Christmas Eve. The space rock, designated 2003 SD220, is expected to pass by our planet at a speed of...

Emergency Declared as Bird Flu 'Spreads' to California Dairy Cows

California Governor Gavin Newsom has officially declared a state of emergency in response to the rapidly escalating bird flu outbreak. The declaration comes after avian influenza was detected in dairy cows, a rare and...

Missing Radioactive Material in New Jersey Sparks Panic — Are Drones ‘Hunting for It’?

A small amount of radioactive material went missing in New Jersey earlier this month, raising concerns over public safety and potential security risks. The U.S. Nuclear Regulatory Commission (NRC) confirmed on December 2,...

Some black holes at the centers of galaxies have a buddy − but detecting these binary pairs isn’t easy

Every galaxy has a supermassive black hole at its center, much like every egg has a yolk. But sometimes, hens lay eggs with two yolks. In a similar way, astrophysicists like us who study supermassive black holes expect to...

Technology

BYD Factory in Brazil Faces Investigation as Chinese Workers Found in 'Slavery-like Conditions'

Brazilian officials discovered 163 Chinese workers in slavery-like conditions at a BYD factory construction site in Bahia. Workers faced withheld passports, long hours, and unsafe environments, sparking an ongoing...

Toyota Targets BYD and Chinese Rivals with Shanghai EV Factory for Lexus Production by 2027

Toyota is reportedly planning a new EV factory in Shanghai to independently produce Lexus models, starting in 2027. The move comes as the automaker faces stiff competition from Chinese rivals like BYD in the worlds largest...

Biden Hands China Chip Tariff Probe to Trump as Trade War Heats Up Over Semiconductor Dominance

The U.S. has opened a trade investigation into Chinese legacy semiconductors, aiming to curb Beijings state-driven chip buildup. The probe, announced just weeks before Donald Trumps inauguration, could lead to additional...

Musk’s X Raises Premium-Plus Plan to $22 With Creator Payouts and AI Features in Focus

X, the platform owned by Elon Musk, raised its premium-plus subscription to $22 in the U.S., emphasizing enhanced creator payouts and advanced AI-driven features like the Grok chatbot. The updated pricing takes effect for...

'Drones Plummet onto Crowd' at Orlando Holiday Show, Prompting NTSB Investigation

The National Transportation Safety Board (NTSB) has initiated an investigation into a malfunction involving unmanned aircraft systems (UAS) that resulted in drones falling into the audience during a holiday show at Lake...