August 17, 2023 9:35 am
The Norwegian Krone bounced from a five-week trough against the US Dollar on Thursday, after Norges Bank raised its key policy rate by 25 basis points to 4% at its August meeting, in line with market expectations. With interest rates now being at their highest level since 2008, Norway’s central bank said it would likely […]
Read moreAugust 17, 2023 7:27 am
The Australian Dollar extended losses against its Canadian counterpart, hitting a fresh 42-week low on Thursday, after Australian jobs data for July confounded market expectations and brought forth speculation the Reserve Bank of Australia might have completed its policy tightening cycle. The Aussie dollar has also been pressured as a result of the sharp deterioration […]
Read moreAugust 16, 2023 12:41 pm
Futures on US West Texas Intermediate Crude Oil were registering small gains on Wednesday, as concerns over China’s sluggish economy were weighed against potential tighter supply in the US. Chinese retail sales, investment figures and industrial production fell short of market expectations, adding to concerns that sluggish recovery could last longer than anticipated. China’s central […]
Read moreAugust 16, 2023 9:20 am
The British Pound surged to a fresh one-month high against the Canadian Dollar on Wednesday after the most recent UK CPI inflation data added to the case for more interest rate hikes by the Bank of England. Annual headline consumer price inflation in the UK slowed to 6.8% in July, marking its lowest level since […]
Read moreAugust 16, 2023 7:16 am
The New Zealand Dollar firmed against the Euro on Wednesday after the Reserve Bank of New Zealand left its official cash rate without change at 5.5% during its August meeting and said it did not expect to begin rate cuts until the first half of 2025. The RBNZ held the OCR at the current level […]
Read moreAugust 15, 2023 10:36 am
Rogers Corporation said on Monday that it had appointed Griffin Gappert as Vice President and Chief Technology Officer. Gappert will head Rogers’ global Research and Development organization and partner with business unit leaders in order to drive innovation and commercialization of next-gen material solutions, the company said. Gappert, who holds a PhD in Chemical Engineering […]
Read moreAugust 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 […]
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