Quick Look: Europe witnesses a surge in AI startups, escalating the battle for technical talent among giants like Google DeepMind. CCA project allocates $6 billion to integrate AI drones with human-piloted jets, with Boeing and Lockheed Martin getting ready for production. Historical use of drones like Reaper and Predator has led to innovative entries such …
Pentagon: $6B AI Drones Revolutionize Global Military Read More »
Quick Look Tokyo CPI may prompt BOJ policy shifts, impacting USD/JPY. ISM Services PMI rise challenges Fed rate cut expectations, affecting the U.S. dollar. The U.S. Dollar Index’s uncertain path hinges on Powell’s testimony and economic indicators. Slower U.S. wage growth and service industry expansion signal a cooling labour market. Bitcoin’s surge and fiscal policies …
Tokyo CPI & Global Events Shift US Dollar Dynamics Read More »
Quick Look CFO Lucas W. Buchanan and CAO Marie L. Jones sell shares, signalling insider trading activity. Analyst ratings upgrade with a consensus of “Hold” despite positive target adjustments. Q4 performance exceeds expectations, with significant revenue beats but negative margins. Recent trading sees stock decline by 4.3%, reflecting market volatility. Institutional investments are on the …
Quick Look Zinc futures soared to a 5-week high amid output cuts at a South Korean smelter. Combined zinc inventories have reached peak levels since May 2021, hinting at supply pressures. SHFE copper prices escalate, signalling a stronger import appetite in China. Mixed movements in other metals, with notable increases in nickel and tin prices. …
Zinc Peaks 5-Week High; Copper Hits February’s Best Read More »
Quick Look GDP grows by 0.2% in December Quarter 2023, matching economists’ predictions. Annual Australia’s GDP Growth Rate hits 1.5%, aligning with expectations. Export growth and reduced imports boost the economy, while company stock reductions hinder. The household savings ratio rises after two years. Projections indicate a slowdown in GDP growth, with potential recovery by …
Quick Look Ozempic demonstrated a 24% decrease in kidney disease complications risk. Plans for regulatory submissions in the U.S. and Europe in 2024 for expanded use. FLOW trial enrolled 3,533 participants, showing significant statistical results. Ozempic’s 2023 revenue hit 95.7 billion Danish kroner, up 60% from the previous year. Despite a nearly 3% stock drop …
Ozempic’s 24% Kidney Risk Reduction: A 2024 Milestone Read More »
Quick Look Sharp fall in USD/JPY from above 150 to below 149. Nikkei 225 futures reversed despite reaching record highs, unaffected by USD/JPY movements. The correlation between USD/JPY & Nikkei 225 at 0.9 indicates a strong relationship due to export dynamics. Correlation between USD/JPY & US bond yields at 0.91, highlighting sensitivity to interest rate …
USD/JPY Plummets Below 149: Market Repercussions Read More »
Quick Look Chinese yuan (CNY) ranks eighth in global currency trade, potentially top five due to underreporting. Included in IMF reserve currencies list since 2016, bolstering international usage. Significant loans through the Belt and Road Initiative are denominated in CNY. China’s strategic shift to a consumption and service-oriented economy underlines CNY stability. The Chinese yuan’s …
Quick Look SoFi Technologies Inc. records its largest single-day stock decline at 15.3%. Announces $750 million convertible senior notes offering, with potential to increase to $862.5 million. Analysts estimate a 6% share count increase but foresee a net income accretion of $34 million. Plans include redeeming high-cost preferred stock, reducing debt costs, and mitigating future …
Quick Look May London Cocoa hits 5,620 pounds a ton, then drops 1.1%. May New York Cocoa falls 1.2% from a record high. Industry braces for a fourth consecutive cocoa supply deficit. Lindt & Spruengli to hike prices amid rising costs. ICCO forecasts a widening deficit; global cocoa output to decline. Venezuelan cocoa finds new …
Cocoa Crisis: Prices Swing Amid 374K MT Deficit Forecast Read More »
Quick Look AUD/USD trades below its 50-day SMA of 0.6598, hinting at a negative trend. Remains within the February range, facing difficulties in sustaining gains from the yearly low. China’s 5% growth target for 2024 fails to uplift AUD despite being Australia’s largest trade partner. Australian GDP is expected to grow by 0.3% in Q4 …
Quick Look Frontier Lithium partners with Mitsubishi, shares soar by 15%. Mitsubishi acquires a 7.5% stake in Frontier with an option to increase to 25%. PAK Lithium Project in Ontario, a key focus of the joint venture. Rio Tinto eyes Canadian lithium amidst volatile market conditions. US energy storage sees a 59% increase in new …
Frontier Lithium & Mitsubishi Venture: Shares Jump 15% Read More »
Quick Look Tesla’s February shipments from Giga Shanghai dropped to 60,365 vehicles, a 16% decrease month-over-month and a 19% decrease year-over-year. Tesla stock tumbled 7.16%, marking its lowest close since mid-February. The Chinese Lunar New Year and strategic shipping practices influenced Tesla’s February performance. A competitive EV market and price wars, including Tesla’s substantial price …
Tesla’s China Dip: 16% MoM Shipment Fall & 7.16% Stock Plunge Read More »
Quick Look The Swiss Franc strengthens against major currencies, marking a recovery in European trade. SNB shifts policy focus, reducing the emphasis on franc strength to counter inflation. USD/CHF exchange rate declines, influenced by technical resistance and inflation data. February’s CPI data surpasses expectations, indicating persistent inflationary pressures. Market sentiment on CHF dampens despite positive …
Quick Look GBP/USD Experiences a Bearish Shift, with a closing around 1.2650. Downward Trend Expected to Continue, pending key events like the UK budget announcement and the US job numbers release. Key Events to Watch: UK Budget Announcement, Federal Reserve Chairman’s Testimony, and US Job Numbers. Economic Indicators Show Mixed Signals: Strong Services Sector PMI …
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