Broadcom scoops up VMware for $69bn after Chinese regulatory approval LeapRate

November 23, 2023 BY Elizabeth Anderson

Broadcom scoops up VMware for $69bn after Chinese regulatory approval

The $69bn deal is one of the biggest in the international tech arena and became public knowledge in May 2022. This announcement triggered worldwide regulatory scrutiny, starting a lengthy back-and-forth before obtaining the go-ahead from China and the European Commission. China gave its stamp of approval on Tuesday, which effectively dotted and crossed all requirements.…

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,…

November 21, 2023 BY Elizabeth Anderson

Asian stocks experience 2-month high in face of weaker dollar

On Monday, the Japanese Nikkei settled at a 0.15% increase after riding crests not experienced since 1990. As this index is up by an estimated 28% so far this year, it is the strongest performer in the Asian stock market. Similarly, the CSI300, China’s blue-chip index, rose by 0.66% and the Hong Kong Hang Seng…

November 20, 2023 BY Elizabeth Anderson

Apple hires hackers to break iPhone 15s security

Apple noted that the A17 Pro chip delivers the most efficient and well-rounded graphics performance of all their mobile models so far, noting it as an “entirely new class of iPhone chip”. This self-hired cyber-attack comes after the company released Lockdown Mode, which aided the protection of devices against highly sophisticated, rare cyber security breaches.…

November 17, 2023 BY Simon Mugo

Singapore Launches Live Pilot for Issuing Wholesale CBDCs

This significant development, disclosed by MAS Managing Director Ravi Menon, marks a departure from previous simulations and aims to evaluate the practicality and efficiency of employing CBDCs for instantaneous settlements among commercial banks. ______________________________________________________________________ Don’t miss out the latest news, subscribe to LeapRate’s newsletter _______________________________________________________________________ Until now, MAS had only simulated the issuance of CBDCs…

November 17, 2023 BY Elizabeth Anderson

Nvidia Inception brings in new recruit Shorthills AI

Focusing on offshore technical and digital equipment, Shorthills AI provides data engineering solutions, as well as end-to-end generative AI, for companies in data pre-processing and data pipeline servicing. Nvidia (NASDAQ: NVDA) specialised in creating integrated circuits, GPUs and CPUs that are used in gaming consoles and PCs. ______________________________________________________________________ Don’t miss out the latest news, subscribe…

November 17, 2023 BY Elizabeth Anderson

Goldman Sachs 2024 US equity outlook hits the wires

Surprisingly, gross domestic product growth (GDP) has been much stronger than expected. This did not, however, prevent labour market rebalances or a continued drop in inflation. Research experts at Goldman Sachs predict a 2.1% year-on-year GDP growth in 2024. Additionally, the company’s economists foresee a 2% consumption growth and a real disposable income increase of…

Category: Forex