Author: FX

UPCOMING EVENTS:Monday: EZ-UK-US PMIs.Tuesday: US Consumer Confidence.Wednesday: Australia CPI, FOMC Policy Decision.Thursday: ECB Policy Decision, US Jobless Claims, US Q2 GDP.Friday: BoJ Policy Decision, US PCE, US ECI.Monday: The Eurozone Manufacturing PMI is expected to tick lower to 43.3 vs. 43.4 prior, while the Services PMI is seen at 51.4 vs. 52.0 prior. Eurozone economic data started to consistently surprise to the downside lately which signals a possible recession hitting the economy in H2 2023 and the ECB ending its rate hike cycle. Citi Economic Surprise IndexThe UK Manufacturing PMI is expected at 45.9 vs. 46.5 prior, while the Services…

© Reuters. FILE PHOTO: The logo of Mercedes-Benz is seen outside a Mercedes-Benz car dealer in Brussels, Belgium June 1, 2023. REUTERS/Yves Herman/File Photo FRANKFURT (Reuters) – Mercedes-Benz is making China, the world’s top auto market, central to its next electric vehicle (EV) campaign starting in 2025, its CEO told German magazine Automobilwoche. “To do this, we must master electric propulsion just as perfectly as digitalisation. That’s what our customers expect,” Ola Kaellenius was quoted as saying. From 2025, all of Mercedes-Benz’s new vehicle platforms will only make EVs under a strategy the German luxury automaker outlined in 2021. A…

Warning: THNPY is at high risk of cutting its dividend Source link

Terraform Labs faces a “big hill to climb” as the progress of its various projects in development are constantly being impeded by frequent accusations against Do Kwon, according to Terra’s new interim CEO Chris Amani. During a July 20 Twitter Spaces, titled A Community Talk, Amani joined several Terra employees to discuss the challenges ahead for Terra moving forward. This took place shortly after Amani was appointed as Terra’s new CEO, while the former CEO, Do Kwon, continues to battle legal issues. Continue Reading on Coin Telegraph Source link

GlobalStock The U.S. Senate voted this week to block China from purchasing oil from the Strategic Petroleum Reserve, which stands at a 40-year-low following the Biden administration’s 180M barrel drawdown last year. The legislation – an amendment to the must-pass National Defense Authorization Act – would ban the sale of U.S. oil to any company under control of the Chinese Communist Party, or to Russia, Iran, North Korea or any country sanctioned by the U.S. The amendment is similar to a bill the Republican-led House of Representatives approved in January, meaning the bill’s language has a strong chance of becoming…

Sun: Spanish Elections.Mon: EZ/UK/US Flash PMIs (Jul).Tue: German Ifo Survey (Jul), NBH Announcement, Richmond Fed (Jul).Wed: FOMC Announcement, Australian CPI (Jun).Thu: ECB Announcement, US GDP Advance/PCE (Q2).Fri: BoJ Announcement & Outlook Report, French Flash CPI (Jun), Spanish Flash CPI (Jun), EZ Business Confidence Survey (Jul), US PCE (Jun).NOTE: Previews are listed in day orderSpain Elections (Sun):Spain goes to the polls on July 23rd with all 350 Congress of Deputies seats and 208/265 Senate seats up for grabs. Elections were called early after incumbent PM Sanchez’s PSOE party suffered heavy losses in the May local elections. Currently, polls have People’s Party…

© Reuters. FILE PHOTO: Russian President Vladimir Putin and Belarusian President Alexander Lukashenko speak during a meeting at the Bocharov Ruchei residence in Sochi, Russia June 9, 2023. Sputnik/Gavriil Grigorov/Kremlin via REUTERS/File Photo (Reuters) – Russian President Vladimir Putin and Belarusian leader Alexander Lukashenko will meet on Sunday, the Kremlin said, two days after Moscow warned that any aggression against the its neighbour and staunchest ally would be considered an attack on Russia. After Poland decided earlier this week to move military units closer to its border with Belarus in response to the arrival in Belarus of forces from Russia’s…

N Rotteveel/iStock Editorial via Getty Images Bitcoin (BTC-USD) has been deemed by asset managers as the cryptocurrency with the most compelling growth outlook, although ethereum (ETH-USD) remained the largest holding in their portfolios, according to a recent CoinShares survey. Indeed, 43% of respondents took the view that bitcoin (BTC-USD), the world’s largest crypto by market cap, has the most superior upside potential. “This has come primarily at the expense of Ethereum (ETH-USD) which was in the lead at the prior survey taken in April,” the report said. CoinShares’s quarterly survey drew responses from investors who cover $750B of assets under…

karelnoppe/iStock via Getty Images The Industrial Select Sector (XLI) closed the week ending July 21, +0.87%. Rocket took the top gainer spot but trucking companies were not behind, landing three spots among the five. Meanwhile, Joby slumped on a downgrade and earnings began to show its impact on the stocks. XLI was among the 7 out of the 11 S&P 500 sectors, which closed the week in green. The SPDR S&P 500 Trust ETF (SPY) rose +0.65%. The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +10% each this…

This week’s episode of Cointelegraph’s Market Talks welcomes Alvin Xu, the co-founder and CEO of Maverick Protocol, a platform that is taking a new approach to building decentralized finance (DeFi) infrastructure. Xu has been in the crypto space since 2018, and before co-founding Maverick, he led products and ecosystems across MetaMask, Abra Wallet, BitTorrent and the Tron Foundation. The show kicks off with a discussion about the Community Conference in Paris, where Xu was a guest. He gives the inside scoop on all the latest updates and developments from the conference.Continue Reading on Coin Telegraph Source link