US World Leaders In The Clear

2023-05-31 | Commodities , Current Affairs , Forex , Futures , Precious Metals , Securities , Spot Indices

Japan’s Factory Output Plunges With Weak Start To Q2

Japan is experiencing a surprising and unexpected weak start in factory output in the second quarter of 2023, marking a decline for the first time in 3 months in April, amidst a global showdown.

Nvidia Breaches The Trillion Mark

Nvidia Corp (NVDA.O) has done it again! On Tuesday, the renowned chipmaker was sporting $1 trillion market value, tripling the stocks value in the past 8 months, making it one the biggest winners of the AI boom.

Cathie Wood Claims That Software Stocks Are Next

CEO and founder of Ark Investment Management LLC, Cathie Wood claims that software providers will be next in line to ride the AI boom that is currently fronted by Nvidia Corp.

Today’s News

A new debt-limit deal was struck by President Joe Biden and House Speaker Kevin McCarthy, clearing the crucial early hurdle before a catastrophic US default which was due on June 1, 2023. The House Rules committee, which controls floor debate, voted 7-6 to advance the bill. All Democrats on the committee voted against advancing the deal.

Yen Stays Ahead Of Dollar

Turbulent currency markets with the dollar hitting a 10-week high and a 6-month top against the yen has retreated after Japanese officials giving a nudge to the yen.

Source: REUTERS

Japan is closely monitoring the currency market and will respond accordingly, claimed the country’s top currency diplomat after financial authorities rallied in response to a weakening yen, the softest in six months as opposed to the dollar.

First Fall In 3 Months For UK Business Confidence

UK business confidence fell for the first time in three months as unexpected inflation figures weighed on firms’ sentiment about the economy, as indicated by a survey by Lloyds Banking Group Plc.

Source: Lloyds Bank, BVA BDRC.

Lloyds Bank’s Business Barometer showed that business confidence fell by 5 points in May from the previous month to 28% as the net balance of companies are expected to raise prices in the next year dipped 1 point to 56%, well above the pre-pandemic average.

Oil On The Rise After Steep Losses Prior To Debt Ceiling Deal

Oil prices edged up after market plunge in the previous session as a result of the awaited vote on a bipartisan deal to lift the $31.4 trillion U.S. debt ceiling.

Source: REUTERS

Since its 4% fall on Tuesday, brent crude futures for August delivery rose by 11 cents to $73.82 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude (WTI) gained 8 cents to $69.54 a barrel. Both fell more than 4% on Tuesday.

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2025-01-13 | Current Affairs

Dollar Surge Pressures Global Currencies Amid Fed Uncertainty

The U.S. dollar climbed sharply on Monday, reaching multi-year highs against other currencies after an unexpectedly strong U.S. jobs report highlighted the resilience of the American economy

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2025-01-10 | Current Affairs

Musk Urges State AGs to Facilitate OpenAI Stake Auction

Musk’s lawyer submitted a letter requesting the states to ensure an open bidding process to safeguard public interest as OpenAI move away from nonprofit control

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2025-01-09 | Current Affairs

Global Stocks Struggle Amid Rising Treasury Yields and Tariff Concerns

TODAY’S NEWS The ongoing selloff in global bonds intensified on Wednesday, weighing on Wall Street stocks and bolstering the dollar as robust U.S. economic data lowered hopes for imminent aggressive interest rate cuts by the Federal Reserve. The 10-year U.S. Treasury yield climbed to a peak of 4.73%, the highest since April 2024, before settling […]