Q3 Euro Fundamental Forecast: Deteriorating Data to Test ECB’s Resolve
Worsening economic data in Germany and wider Europe sets up an interesting third quarter as the ECB maintains hawkish resolve. Euro to feel the pressure
Bitcoin Q3 Technical Forecast: Candlestick Patterns Hint at Potential Bullish Continuation
Bitcoin Prices may see a short-term pullback in the early part of Q3 but remains poised for further gains.
U.S. Private Sector Employment High Increase, Steady Jobless Claims, Extreme USD Volatility, U.S. Stocks Shake Drop
PREVIOUS TRADING DAY EVENTS 06 July 2023 According to the ADP National Employment Report US Private Sector Employment increased by 497K Jobs in June, way more than expected, indicating that the labour market is actually pretty strong despite growing risks of a recession from higher interest rates. Despite the Feds fastest monetary policy tightening campaign […]
Pound Edges Back Towards 2wk High, Investors Focus on Rates
LONDON, July 7 Reuters The British pound on Friday edged back towards a twoweek high reached against the U.S. dollar the day before, supported by interest rate differentials as Britain looks set to outpace the U.S. and Europe on rate rises this year. The Federal Reserve paused its tightening cycle in June and although it […]
South African Rand Steady on Drop on U.S. Rate Expectations
JOHANNESBURG, July 7 Reuters The South African rand hovered around its previous close against the dollar in early Friday trade after falling almost 2 the previous day amid riskaverse markets. The rand traded at 19.0925 against the dollar at 0609 GMT, not far from its previous close of 19.1100. The dollar index was at 103.010, […]
Broadcom to Invest in 1B EUFunded Chip Programme in Spain
MADRID, July 7 Reuters U.S. chipmaker Broadcom will invest in a European Unionfunded programme to develop a semiconductor industry in Spain, Chief Executive Charlie Kawwas said late on Thursday. Excited to announce our decision to invest in Spain39;s semiconductor ecosystem under their semiconductor support program, Kawwas said on his Twitter account. The project in which Broadcom […]
NAB to Change Home Loan Refinancing Criteria
July 7 Reuters National Australia Bank NAB on Friday said it would refresh its approach to likeforlike refinancing criteria to help customers who would otherwise fail to meet an industry standard that assesses their ability to repay loans. We will be refreshing our existing approach to support eligible refinance customers switch to NAB, who are considered […]
Crypto Exchange Binance Hit by Executive Exodus
July 6 Reuters A string of executives have quit Binance, according to their tweets and media reports, the latest blow for the world39;s biggest crypto exchange as its battles a slate of legal and regulatory headaches. Chief Strategy Officer Patrick Hillmann said in a tweet on Thursday that he was leaving the exchange, citing personal […]
Fisker Misses Q2 Production Target Due to Parts Shortage
July 7 Reuters Fisker missed its production target for the second quarter due to shortage of components, the electric vehicle startup disclosed on Friday, sending its shares down 2 in premarket trading. The Californiabased company produced 1,022 units of its Ocean SUV in the quarter ended June, lower than 1,4001,700 vehicles it had projected. A few […]
Mexican Inflation Continues Downward Trend in June
MEXICO CITY, July 7 Reuters Mexico39;s annual inflation rate decelerated in June for a fifth consecutive month to 5.06, data from statistics agency INEGI showed on Friday, continuing a downward trend spurred by a long cycle of rate hikes. Headline inflation came in slightly above a market forecast of 5.02, but is now at its […]