The eurozone has been experiencing a lackluster economic performance in recent years. However, the latest data revealing a 0.3% quarterly growth in GDP suggests that the bloc is currently not in a technical recession. Despite this seemingly positive development, there is still a looming possibility of a recession later in the year, albeit minimal. The
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In a recent exclusive interview with CNBC, George Zhao, the CEO of Chinese smartphone company Honor, highlighted the critical importance of protecting user data in the development and implementation of artificial intelligence technologies. Zhao emphasized that while AI has the potential to significantly transform various aspects of our lives, this potential can only be realized
European Union banks are facing scrutiny from the banking watchdog regarding the valuation of high-risk debt, specifically Additional Tier 1 (AT1) bonds. These bonds were initially issued by banks to strengthen their capital reserves in the aftermath of the global financial crisis. However, concerns have been raised about the accuracy of the valuation of these
Recently, the USD/JPY pair reached levels as high as 160.34, a milestone not seen since 1986. This surge is primarily fueled by market expectations of potential intervention by Japanese authorities. Despite verbal assurances from Finance Minister Shunichi Suzuki about the government’s readiness to counteract fluctuations in the yen’s value, concrete financial measures have yet to
Recently, Japanese Finance Minister Shunichi Suzuki made comments regarding the foreign exchange market, stating that he will take necessary actions to address any issues that may arise. While he refrained from commenting on specific forex levels, he emphasized the importance of FX stability and the need to monitor FX movements closely. These statements come at
The Australian economy is closely tied to economic indicators from China, given that China accounts for one-third of Australian exports. As investors analyze the implications of the Australian inflation numbers on the RBA rate path, attention is also turning to Chinese industrial profit numbers and their potential influence on buyer appetite for the Aussie dollar.
Gold prices in India have remained relatively unchanged, indicating stability in the market. As one of the most sought-after precious metals, Gold plays a significant role in various aspects of the economy, including its value as an investment asset and a safe-haven during turbulent times. Gold has a long-standing history as a store of value
Europe is at risk of losing ground to the U.S. and China in the field of artificial intelligence, according to Prince Constantijn of the Netherlands. While European Union regulators have been focusing on regulating AI technologies through laws like the EU AI Act, Constantijn believes that this approach may limit Europe’s potential to become a
The Deputy Governor Ryozo Himino of the Bank of Japan has highlighted the significant impact of exchange rate fluctuations on economic activity. These fluctuations not only affect inflation through direct impact on import prices, but also have broader and sustained implications. While the Bank of Japan aims to cap the upside through intervention threats, a
During Monday’s trading session, the GBPJPY pair continued its upward movement, hitting a peak of approximately 202.50, the highest level seen since 2007. Despite initial efforts by sellers to drive the pair down to 106.14, buyers managed to take control and push the pair to new cycle highs. The Daily Relative Strength Index (RSI) at
The Bank of Japan is sending strong signals regarding its quantitative tightening (QT) plan, hinting that it may be bigger than anticipated by the markets. Furthermore, there is talk of a possible interest rate hike accompanying this move, signifying a significant shift away from its massive monetary stimulus. These hawkish hints come in response to
The Jibun Bank Services PMI unexpectedly fell to 49.8 in June, marking the first contraction since August 2022. This decline, coupled with a slowdown in output price inflation, has raised concerns about the strength of the Japanese economy. As a result, the Bank of Japan may need to reassess its monetary policy approach and place
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