USDJPY spiked higher by over half a percent just after the release of US nonfarm payrolls (NFP) data, on Friday. USDJPY traded in the upper 156s after the US Dollar strengthened as a result of the better-than-expected results. Nonfarm payrolls showed the number of employed people in the US rose by 272,000 in May, when … Read more
Following Wednesday’s choppy action in foreign exchange markets, investors are gearing up for key events that could ramp up the volatility. The European Central Bank will announce monetary policy decisions on Thursday and the US economic calendar will feature weekly Initial Jobless Claims and Unit Labor Costs data for the first quarter ahead of Friday’s … Read more
USDJPY bulls are further encouraged by a weakening Japanese Yen following data that shows real wages declining for the 25th straight month in April, as domestic inflation in Japan continues to outpace wage growth. The data will make it harder for the Bank of Japan to normalise policy, as it hopes to lift the bank’s … Read more
Reflect Festival, Cyprus’ flagship tech and startup festival, returned to Limassol and welcomed 9,000 entrepreneurs, investors, and tech enthusiasts in a new venue. The event marked the biggest conference ever organized in Cyprus and the most international year of Reflect so far. Attendees from 70 countries participated, including 1,500 companies and 130 governmental representatives from 20 countries. The festival featured over 150 companies in the expo, with activities like holograms, augmented reality garments, and contests. The event also included parties, sports events, and side activities around Limassol. Reflect Festival announced the launch of The Doers Company as an umbrella organization behind the event and future activities.
– Markets remain subdued on the first trading day of June
– S&P Global will release revisions to May Manufacturing PMI data for Germany, Eurozone, UK, and US
– US Bureau of Economic Analysis reported inflation rose 2.7% on a yearly basis in April
– US Dollar struggled to preserve its strength following PCE inflation data
– EURUSD edged higher and closed the week virtually unchanged
– GBPUSD failed to make a decisive move in the previous week
– Bank of Japan has no plans to immediately unload its ETF holdings
– China’s Caixin Manufacturing PMI edged higher to 51.7 in May
– AUDUSD pair showed no reaction to China’s PMI data
– Gold continues to move sideways above ,320
Fact: Cyprus is set to make a significant showing at the international shipping conference Posidonia 2024 in Athens, with around seventy companies participating.
Key data releases include the Harmonised Index of Consumer Prices (HICP) from Eurostat, the Personal Consumption Expenditures (PCE) Price Index from the US Bureau of Economic Analysis, and first-quarter Gross Domestic Product (GDP) data from Canada.
Fidias Panayiotou, a Cypriot candidate for MEP and famous YouTuber, claimed that his car was stolen while he was abroad in Greece. This was the first time his car had been stolen. Despite not having filed a complaint with the police, he is polling high in the MEP elections as an independent candidate.
Two Cyprus-registered companies, IBEX Shipping and Azia Shipping, have been sanctioned by Japan for allegedly aiding Russia’s invasion of Ukraine. The sanctions target a total of 12 entities and individuals, including the two Cypriot firms, which are registered in central Nicosia. Japanese authorities believe these entities facilitated the arms trade between North Korea and Russia, strengthening Russia’s military capabilities and potentially supporting its war efforts in Ukraine.
Carlos Alcaraz won his first French Open match against J.J. Wolf in straight sets, despite concerns about his right forearm problem.