March 8, 2022 10:01 am
AUD/USD extended a pullback from recent 4-month peak on Tuesday, as sky-high commodity prices fueled inflation risks. Market players are beginning to perceive way too high commodity prices as a potential drag on global economic growth in a longer term. JP Morgan now forecasts a slowdown in global growth to 2.6% during the first six […]
Read moreMarch 8, 2022 7:05 am
Visa (V) and Mastercard (MA) said in separate statements that they had suspended operations in Russia due to Moscow’s decision to invade Ukraine. Visa said that, effective immediately, it would work with its clients and partners within Russia to discontinue all transactions over the upcoming days. Meanwhile, Mastercard’s decision follows the company’s recent action to […]
Read moreMarch 7, 2022 9:41 am
The Russian Rouble plummeted to a fresh all-time low against the US Dollar in light offshore trade as trading on the Moscow exchange is due to be closed until March 9th for a bank holiday. The war in Ukraine and the severe sanctions imposed on Russia by the West have triggered a sharp sell-off in […]
Read moreMarch 7, 2022 7:52 am
Sony Corp (6758) and Honda Motor Co Ltd. (7267) announced last week they had formed a partnership with the aim to develop and sell battery-powered electric vehicles. In a statement, the two Japanese companies said they would establish a joint venture later in 2022 with the intention to start selling the first EV model in […]
Read moreMarch 4, 2022 10:06 am
Spot Gold edged higher and the US Dollar advanced to highs unseen since June 2020 on Friday following reports of a Russian strike on a Ukraine nuclear power plant that further fueled concerns of energy shortages. Ukraine said that Russian military forces assaulted its Zaporizhzhia nuclear power plant earlier on Friday, while setting an adjacent […]
Read moreMarch 4, 2022 8:05 am
MarketAxess Holdings Inc (MKTX), the operator of a leading electronic trading platform for fixed-income securities and the provider of market data and post-trade services for the global fixed-income markets, reported on Thursday a 17% year-on-year increase in its February trading volume to $716.8 billion. That result was driven by a 29% year-on-year surge in rates […]
Read moreMarch 2, 2022 10:24 am
Volkswagen AG (VOWG) warned on Tuesday that production cuts were very likely at some of its plants, including the one it has in Wolfsburg, since deliveries from its suppliers in Ukraine have been obstructed following Russia’s military assault. As a result, Volkswagen will probably not be able to produce at its Wolfsburg facility during the […]
Read moreMarch 2, 2022 8:24 am
Citigroup Inc (C) said earlier this week its total exposure to Russian assets equaled $5.4 billion at the end of December. That compares with $5.5 billion at the end of September. According to Citi’s regulatory filing, the $5.4 billion exposure is 0.3% of the group’s assets in 2021. As of December 31st, the financial group’s […]
Read moreMarch 1, 2022 9:30 am
AUD/USD registered a 1 1/2-month high on Tuesday, as the Reserve Bank of Australia kept policy settings intact, while Australia’s fourth-quarter trade performance proved to be less of a drag on the economy than initially expected. The RBA kept its official cash rate intact at a record low level of 0.10% for the 15th consecutive […]
Read moreFebruary 28, 2022 11:58 am
Panasonic Corp (6752) announced on Monday that it would initiate mass production of a new lithium-ion battery for Tesla Inc prior to the end of March 2024. The 46 millimeters wide and 80 millimeters tall battery, which is nearly five times larger than those currently used by Tesla, was unveiled last October. This way the […]
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