July 2023 – Page 58 – UAG Trade Asia

US Labor Market Shows Resilience on Eve of Junes Employment Report

July 7, 2023
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Weekly jobless claims increase 12,000 to 248,000 Continuing claims drop 13,000 to 1.720 million Private payrolls jump 497,000 in June Job openings decline 496,000 to 9.824 million in May WASHINGTON, July 6 Reuters The number of Americans filing new claims for unemployment benefits increased moderately last week, while private payrolls surged in June, suggesting that […]

July 7, 2023
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LONDON, July 7 Reuters British house prices fell last month in annual terms at the fastest rate in 12 years, mortgage lender Halifax said on Friday. House prices dropped 2.6 yearonyear in June, after a 1.1 fall in May, Halifax said. It was the largest such fall since June 2011. On the month, prices fell […]

July 7, 2023
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BENGALURU, July 7 Reuters Indian shares slid on Friday after rising to new record highs in the first hour of the trading session, tracking a fall in Asian peers on concerns of further monetary policy tightening by the U.S. Federal Reserve. The Nifty 50 index was down 0.65 at 19,369.80, while the SP BSE Sensex fell 0.64 […]

July 7, 2023
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BERLIN, July 7 Reuters A swift economic recovery for Germany appeared less likely on Friday as data showed a surprise fall in industrial production. Output fell by 0.2 in May compared with the previous month, the federal statistical office said. Analysts polled by Reuters had predicted that output would stagnate. Carsten Brzeski, chief economist at […]

July 7, 2023
Oil
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July 7 Reuters Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a largerthanexpected fall in U.S. oil stocks, offsetting fears of higher U.S. interest rates. Brent crude futures were up 45 cents, or 0.6, at 76.97 a barrel at 0615 GMT, while U.S. […]

Crude Oil Holds the High Ground as US Jobs Data Lights Up. Higher WTI?

The crude oil price is scoping new highs as inventories drop and the US economy continues to track along at a clip with jobs data prompting a potentially more hawkish Fed. Where to for WTI?

Asia Day Ahead: US Data Calls for Hawkish Bias in Fed’s Policy

Resilient labour market conditions and persistent services sector’s prices were not well-received by Wall Street yesterday, as the data called for a hawkish bias in Fed’s policies.

July 7, 2023
Business
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BRUSSELS, July 6 Reuters The European Food Safety Agency EFSA said on Thursday it had not identified critical areas of concern to prevent renewed approval in the European Union for glyphosate, the active ingredient in Bayer39;s Roundup weed killer. EU approval for the chemical that has been widely used by farmers for decades is to expire […]

July 7, 2023
Business
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SHANGHAI, July 6 Reuters Chinese battery maker CATL said on Thursday it has developed new materials for lithiumion batteries that would sharply improve charging efficiency for electric vehicles, especially in extreme cold. Wu Kai, CATL39;s chief scientist, told a forum in Shanghai that the company, the world39;s largest battery supplier, had developed new electrolyte materials that […]

July 7, 2023
Business
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SAN FRANCISCO, July 6 Reuters Volkswagen said on Thursday that it plans to launch autonomous, or selfdriving, vehicles for ride hailing and goods delivery services in Austin, Texas by 2026. The German automaker, which had previously made a costly bet on Ford39;s now closed selfdriving car unit, Argo, has been partnering with supplier Mobileye, in a […]

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US Labor Market Shows Resilience on Eve of Junes Employment Report

UK House Prices Post Biggest Annual Drop since 2011 Halifax

Indian Shares Slip from Record Highs on Rate Hike Concerns

German Economy Faces Uphill Climb as Industrial Output Falls

Oil Heads for 2nd Straight Weekly Gain on Resilient Demand

Crude Oil Holds the High Ground as US Jobs Data Lights Up. Higher WTI?

Asia Day Ahead: US Data Calls for Hawkish Bias in Fed’s Policy

EU Agency Sees no Major Reason to Block Glyphosate

CATL Touts Breakthrough in ColdWeather EV Charging

Volkswagen to Launch SelfDriving Vehicles in Texas by 2026

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