June 28, 2021 9:25 am
Following a two-day streak of losses, GBP/USD was a notch stronger at the start of the new, data-laden week. The Sterling seemed unfazed by the latest political news from the UK, with Matt Hancock having to resign as health secretary after breaching social distancing rules. The latest CFTC report showed that speculators had trimmed their […]
Read moreJune 28, 2021 7:35 am
Panasonic Corp (6752) has sold its stake in Tesla Inc (TSLA) for about $3.6 billion during the fiscal year ending in March, AFP reported last week, citing Yayoi Watanabe, a spokesperson for the Japanese company. The announcement comes at a time, when the conglomerate seeks to become less dependent on Tesla and to raise cash […]
Read moreJune 25, 2021 9:02 am
Spot Gold rose on Friday and was on track to register its first gain in four weeks, since the US Dollar pulled back from last week’s more than two-month peak, while there have been mixed signals from Federal Reserve officials in regard to the bank’s policy outlook. Markets are also expecting the key data on […]
Read moreJune 24, 2021 8:28 am
Futures on US West Texas Intermediate Crude Oil extended gains on Thursday following a sharper-than-anticipated drop in US crude oil and gasoline stockpiles, which reinforced outlook for strong fuel demand. Additionally supporting prices was the uncertainty surrounding the 2015 Iran nuclear deal, which could lift US sanctions on Iran’s crude exports. An official report by […]
Read moreJune 23, 2021 9:15 am
BMW intends to reduce production costs significantly by the middle of the decade, as it seeks to better compete with rivals such as Volkswagen, Daimler and Tesla. “We will lower the production costs per vehicle by 25 percent by 2025 compared with the level in 2019,” Milan Nedeljkovic, BMW’s board member in charge of production, […]
Read moreJune 23, 2021 7:46 am
American Airlines Group (AAL) said earlier this week that it would cut roughly 1% of its July flights in order to serve a surprisingly strong rebound in air travel demand at a time when the company faces challenges such as unprecedented weather and labor shortages. “(We) feel these schedule adjustments will help ensure we can […]
Read moreJune 22, 2021 8:45 am
AUD/USD resumed its retreat on Tuesday, as iron ore prices continued to drop, while China prepares to tighten oversight of the commodity market. The most recent drop in iron ore futures narrowed the commodity’s year-to-date advance to 30%, while China was set to step up inspections into the market. “China is upping the ante on […]
Read moreJune 21, 2021 9:03 am
GBP/USD rebounded from an over nine-week low on Monday, with market focus now turning to a testimony by Fed Chair Jerome Powell on pandemic emergency lending before the Select Subcommittee on the Coronavirus Crisis on Tuesday and to June’s policy decision from the Bank of England on Thursday. BoE policymakers look set to remain divided […]
Read moreJune 21, 2021 7:04 am
Renault SA (RENA) announced last Friday that it had signed an agreement with French trades unions, under which thousands of its employees will be allowed to work from home for up to three days per week. The French auto maker said that the new work-related arrangements would be carried out in several stages, starting this […]
Read moreJune 18, 2021 8:32 am
Spot Gold rebounded on Friday, but was still on track to register its steepest weekly decline since the business week ended March 13th 2020, after the Federal Reserve’s hawkish policy reversal bolstered the US Dollar to a nine-week high. The FOMC indicated on Wednesday that it would consider whether to scale back the bank’s asset-purchasing […]
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