The Preliminary HCOB Services PMI for December dropped to 48.1, a decline from November's 48.7, defying expectations of a slight rise to 49. This indicates that the activity in the Eurozone’s crucial services sector is shrinking more rapidly than it did in the previous month. Similarly, the Manufacturing PMI remained static at 44.2, contrary to…
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On the currency front, the pound continued to trade at around $1.27 on Friday morning. Meanwhile, the FTSE held a steady position, the DAX in Frankfurt exhibited a 0.5% increase, and the CAC in Paris rose by 0.3%. Additionally, the flash UK PMI Composite Output Index for the private sector reached a six-month high at…
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Machinery and precision instrument stocks led the minor increase in the market as the US dollar briefly climbed to the 146-yen mark in Tokyo. Investor response to the Tankan survey indicates that the latest US inflation data might not be enough to spur the US Federal Reserve to initiate interest rate reductions soon, much to…
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In response to Venezuelan President Nicolás Maduro's proposal, ExxonMobil Guyana released a social media statement reiterating its dedication to Guyana and its intention to continue expanding production offshore in accordance with its agreement with the Guyanese government. Venezuela's push for the withdrawal of companies operating in the Essequibo region, known for its mineral wealth and…
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Closely held companies commonly use tender offers to provide employees an opportunity to unlock the value of their holdings before an initial public offering (IPO). It was reported last week that SpaceX was discussing selling insider shares at $95 each. SpaceX is projected to generate about $9bn in revenues from its rocket launch and Starlink…
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The primary cause for this shift is a recent overnight announcement from the Bank of Japan (BoJ). In this statement, the BoJ retracted its previous indication that it might abandon negative policy rates for the first time in many years, a stance it has now decided against. This change in position by the BoJ has…
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In addition to the information mentioned above, the non-farm payrolls report also revealed that the Unemployment Rate declined, dropping from 3.9% in the same period to 3.7%. This shift indicates a positive trend in the labour market. As measured by the change in Average Hourly Earnings, annual wage inflation remained stable at 4%, aligning with…
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The registrations, reported by CnEVPost, do not calculate the separate Model 3 and Model Y registrations; rather, the figure totals both registrations and pits against competitor electric vehicle (EV) manufacturers. According to the data, Tesla’s sales for November decreased 17.8% when compared to the same period last year, with this drop including Chinese exports in…
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The RBA also noted that it would require more economic signals before considering any further adjustments to monetary policy. In their policy statement, the RBA pointed out that the October monthly CPI indicator indicated a continued inflation moderation. The AUD/USD pair is experiencing a decline, marking its second consecutive day of losses after retracing from…
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The EURUSD currency pair fell for the fourth consecutive session as the single currency continued to gain ground against the US dollar. The single currency struggled to hold on to its gains against the greenback as the dollar was relatively strong against most of its peers, as tracked by the US Dollar Index. The release…
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