EV manufacturer Rivian receives investment from US retirement funds LeapRate

November 29, 2023 BY Elizabeth Anderson

EV manufacturer Rivian receives investment from US retirement funds

However, The California Public Employees’ Retirement System's (CalPERS) recent investments in several EV companies have sparked investor interest, indicating a dynamic landscape. The EV startup Rivian (RIVN.O) has received the highest investment so far, with seven other pension schemes attempting to cash in, including The Teacher Retirement System of Texas and the Maryland State Retirement…

November 29, 2023 BY Elizabeth Anderson

Revolut considers auditor change as it eyes UK banking license

BDO said that $477m of its top line was at risk of being “materially misstated”; an evaluation that Revolut was unhappy with. Execs were also dismayed at the reaction to these remarks in the media. The Standard claims Revolut even instructed independent lawyers to try and change the media narrative. It appears that the debit…

November 28, 2023 BY Simon Mugo

AUDUSD Rallied Higher for Fourth Day Despite Weak Retail Sales

The AUD/USD pair was hovering around the 0.6625 level while approaching its highs from early August. This upward trajectory can be attributed to various factors influencing the currency market. Australia's Retail Sales, a vital indicator of consumer spending, posted a decline of 0.2% for October, falling short of market expectations of a 0.1% increase and…

November 27, 2023 BY Simon Mugo

USDCAD Prices Edged Higher on Weak Canadian Dollar. What Next?

The Canadian Dollar (CAD) has faced headwinds due to a decline in crude oil prices, contributing to this upward pressure on the pair. Western Texas Intermediate (WTI) crude oil prices have been on a downward trajectory since Wednesday and are currently trading at approximately $75.00 per barrel. Crude oil prices have fallen since late September…

November 24, 2023 BY Simon Mugo

USDJPY Trades Sideways Despite Upbeat Japanese Inflation Data

The Japanese inflation report indicated that the annualised CPI print had risen to 3.3%, a new 10-year high, compared to the previous month when annual inflation was recorded at 3.0%. However, the monthly inflation print was most exciting as it showed that inflation rose to 0.7% in October compared to September’s 0.3% print. The Bank…

November 23, 2023 BY Simon Mugo

AUDUSD Edges Higher on Chinese Optimism Despite Weak Aussie PMIs

These declines pushed these sectors further into contractionary territory. Furthermore, the impact of the Reserve Bank of Australia's (RBA) meeting minutes still lingers, as the board reiterated concerns about inflation and the potential for future interest rate hikes. Despite these setbacks, there was a glimmer of positivity for the Australian dollar from China. Beijing's announcement…

November 22, 2023 BY Simon Mugo

USDJPY Rallied Higher As the US Dollar Rose Against the Yen

Additionally, the recent agreement between Israel and Hamas to pause fighting has limited the upside potential for the JPY as a safe haven currency. Interestingly, the recent weakening of the USD may reduce the need for the Bank of Japan (BOJ) to intervene in the foreign exchange (FX) markets if this trend continues. Furthermore, Japanese…

November 22, 2023 BY Simon Mugo

EURUSD Falls on Upbeat US Jobless Claims Data, FOMC Minutes

According to the minutes, the central bank intends to maintain a restrictive monetary policy until inflation approaches its target of 2%. However, Federal Open Market Committee (FOMC) members believe any decisions should be cautiously approached. In summary, the minutes from the meeting provided a relatively balanced perspective, leaving little clear direction for the US dollar.…

November 22, 2023 BY Elizabeth Anderson

Indian Rupee rises above market obstacles

Despite these challenges, experts anticipate a combination of lower oil prices and steady core inflation may play a mitigating role to counteract inflationary risk. The Reserve Bank of India (RBI) is also closely monitoring external financial factors that could influence the Rupee's value and the country's payment balances. This comes after the UK released its…

November 21, 2023 BY Simon Mugo

GBPUSD Rallied Higher on the BoE Policymakers’ Testimonies

BoE Governor Andrew Bailey acknowledged that the latest decrease in inflation was positive news and indicated that recent developments in inflation align with the central bank's expectations. While inflation is expected to end the year slightly lower than previously anticipated, Bailey stressed that this reduction is not substantial. ______________________________________________________________________ Don’t miss out the latest news,…

Category: Market News