August 15, 2023 7:55 am
The South African Rand extended losses against the US Dollar on Tuesday, as heightening concerns over China’s post-COVID recovery pressured the emerging market currency. Yesterday the Rand retreated to a fresh 10-week low against the greenback, as it was undermined by more woes in China’s property market. China is a key trading partner to South […]
Read moreAugust 14, 2023 12:25 pm
Royal Philips and Exor N.V. said in a joint statement on Monday that they had entered into a relationship agreement, under which Exor has acquired a 15% stake in Philips. The agreement includes Exor’s commitment to be a long-term minority investor and the right to nominate one member to the Supervisory Board of Philips, the […]
Read moreAugust 14, 2023 7:56 am
AUD/JPY retreated for a second straight trading day on Monday, pulling back from a 1 1/2-week high, as concerns over China’s economic recovery heightened. Last week, China, Australia’s largest export market, reported disappointing trade and CPI inflation figures, mounting pressure on the risk-sensitive Australian currency. The Aussie dollar was also undermined by more woes in […]
Read moreAugust 11, 2023 12:56 pm
Futures on US West Texas Intermediate Crude Oil held ground above $83 per barrel on Friday despite a divergence between 2024 demand growth forecasts issued by the OPEC group and the International Energy Agency. WTI Futures hit highs unseen since November 2022 on Thursday, while Brent Futures – their highest level since January, amid a […]
Read moreAugust 11, 2023 9:42 am
The New Zealand Dollar retreated against its Canadian counterpart for a fourth straight trading day on Friday and was set for a 0.94% weekly loss, as market players were cautious ahead of the Reserve Bank of New Zealand’s policy meeting next week. The central bank is largely expected to leave the official cash rate without […]
Read moreAugust 11, 2023 7:42 am
The GBP/JPY currency pair traded in proximity to a fresh 92-month peak on Friday, after preliminary figures showed the British economy had expanded at a faster rate than anticipated in the second quarter. UK GDP grew 0.2% quarter-on-quarter in Q2, following a 0.1% increase in Q1 and exceeding market consensus of zero growth. Services sector […]
Read moreAugust 10, 2023 12:28 pm
POSaBIT Systems Corp, a financial technology firm that offers payment processing and point-of-sale systems to cash-only businesses, said on Wednesday that Chris Baker had been appointed as its next Chief Operations Officer with immediate effect. At present, Baker assumes the role of Chief Strategy Officer of POSaBIT Systems. In the new role, Baker will oversee […]
Read moreAugust 10, 2023 9:21 am
The South African Rand pulled back from a one-month low against the US Dollar on Thursday ahead of the key US CPI inflation report as well as South African mining and manufacturing data. Investor focus sets on the US July consumer inflation figures. Annual core CPI inflation is expected to slow to 4.7% from 4.8% […]
Read moreAugust 10, 2023 7:28 am
India’s Rupee was mostly steady near 23-week low against the US Dollar on Thursday, after the Reserve Bank of India kept its benchmark policy repo rate unchanged at 6.5% for a third meeting in a row in August, in line with market expectations. The RBI kept its policy stance of “withdrawal of accommodation” to ensure […]
Read moreAugust 9, 2023 12:34 pm
Futures on US West Texas Intermediate Crude Oil surged to fresh highs on Wednesday, as supply cuts from top oil producers countered China demand concerns and recent US oil stock build. Yesterday Saudi Arabia’s cabinet reaffirmed its support for precautionary measures by OPEC+ members to stabilize the market. Last week, Saudi Arabia extended its voluntary […]
Read more
