The recent first round of France’s parliamentary elections has left investors and analysts uncertain about the future outcomes. The euro showed a slight increase in value as Marine Le Pen’s National Rally party emerged as the leading party in the initial results. However, the final result is contingent upon further rounds of voting and negotiations.
Development
Australian home prices have continued to rise for the seventeenth consecutive month in June, with a 0.7% increase from May. This upward trend has persisted despite various downside risks such as the country’s cost of living squeeze, high interest rates, housing affordability issues, and strict credit policies from lenders. The CoreLogic Research Director, Tim Lawless,
The Bank for International Settlements (BIS) has issued a warning regarding the potential repercussions of rising government debt levels in the face of upcoming major elections. The BIS, often referred to as the central bankers’ central bank, has expressed concerns about the impact that excessive government debt could have on global financial markets. Despite some
China’s manufacturing activity faced a setback in June, marking the second consecutive month of decline. The National Bureau of Statistics revealed that the purchasing managers’ index (PMI) remained stagnant at 49.5, below the 50-mark that signifies growth. Despite some positive indicators, such as the production sub-index being above 50, other key factors like new orders,
The S&P 500 futures saw an increase on Friday as traders awaited the release of crucial inflation data. The first half of the year has been particularly strong with the Nasdaq leading gains in June by a significant 6%. On the other hand, the S&P 500 and Dow also saw gains of over 3% and
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
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
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.
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
Recently, crude oil prices have shown an upward trend, aiming for a move above the $80.00 resistance zone. The 4-hour chart of XTI/USD reveals a key expanding triangle with resistance at $82.50. After breaking the $80.00 resistance, the price encountered some hurdles. Despite settling above the 200 simple moving average and the 100 simple moving
Cisco’s Greater China head, Ming Wong, expressed his optimism about the growing business with Chinese electric car companies as they expand overseas. The electric vehicle (EV) segment is the second-largest for Cisco in the region, generating most of its revenue from manufacturing companies, with electric cars being the largest category. Chinese EV-makers have been increasing
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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