EUR/USD
1.13863
0.085%
Gold
4054.97
0.140%
Oil
87.657
-3.757%
USD/JPY
163.725
-0.079%
GBP/USD
1.33157
0.017%
GBP/JPY
218.018
-0.046%
Real-time News
Next week will see a flurry of earnings reports from tech stocks, including Apple (AAPL.O), Meta Platforms (META.O), Amazon (AMZN.O), Microsoft (MSFT.O), Qualcomm (QCOM.O), and SK Hynix. On the economic data front, Chinas official July manufacturing PMI, the US June PCE and ADP employment figures, and the preliminary annualized quarterly GDP growth rate for the second quarter will all be released next week. Additionally, the Federal Reserve will announce its interest rate decision next week. Please stay tuned. For a complete earnings calendar, please visit the US-Hong Kong Telecom APP—Calendar. Click to view...A Bank of England survey released on Friday, July 24th, showed that British businesses expect to slightly raise prices and wages next year due to a temporary drop in energy prices during the ceasefire in the Iran-Iraq conflict. The survey indicated that businesses expect prices to rise by 3.9% over the next 12 months, down from the previous 4.1% (the highest level in over two years), but still higher than the 3.4% predicted in February before the war. Expectations for wage growth next year fell by 0.1 percentage point to 3.4%. This data is likely to be welcomed by the Bank of England, which is closely monitoring business pricing and wage growth. The Bank of England is expected to keep interest rates unchanged next week.The forward premium for the US dollar against the Indian rupee narrowed; the 1-year premium fell 4 basis points to 2.93%.On July 24, in order to further regulate the competitive order of the automotive industry and improve the consistency and quality and safety of automotive products, the Equipment Industry Department of the Ministry of Industry and Information Technology conducted a supervisory inspection of the product safety assurance capabilities and production consistency of road motor vehicle manufacturers at GAC Aion New Energy Automobile Co., Ltd. and Zhaoqing XPeng Motors Co., Ltd. The inspection focused on the companies ability to ensure the safety of intelligent connected vehicles, their design, development and production capabilities, and their production consistency assurance capabilities, as well as their adherence to production access conditions. Sample vehicles and power batteries were randomly selected on-site and sent to relevant institutions for testing and inspection to ensure compliance with national standards.July 24th - According to a PMI survey, British businesses reported their first growth in three months in July, benefiting from a brief respite during the Iran-Iraq war and representing the most optimistic performance since the conflict began. The UKs composite PMI preliminary reading rose to 52.1 in July from 49.3 in June, reaching its highest level since February, while market expectations were only for a slight improvement to 49.7. The UKs services PMI preliminary reading rose to 51.8 in July from 48.8, reaching its highest level since April, while the manufacturing PMI rose to 52.8 from 52.5. Chris Williamson, chief business economist at S&P Global Market Intelligence, said the hotel industry benefited from hot weather, the World Cup, and people choosing to holiday in the UK, as high costs and uncertainty dampened overseas travel.
