News

Downward momentum has slowed somewhat, but there is still a chance for Pound Sterling (GBP) to decline to 1.3200, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

The Indian Rupee (INR) trades lower to near 88.90 against the US Dollar (USD) on Tuesday, tracking overnight gains in the United States (US) currency, which came on the back of receding trade tensions between Washington and China.

JPMorgan will give investors a view into how U.S. consumers and corporations fared in the third quarter.

Goldman Sachs gets the majority of its revenue from Wall Street activities including trading and investment banking.

Broadcom CEO Hock Tan discusses how AI contributes to the global GDP.

Brands from Louis Vuitton and Prada to Coach and Ralph Lauren are giving buyers a a literal taste of luxury with new cafes that serve luxe experiences for less.

European trade commissioner, Maros Sefcovic, said that G7 finance ministers are arranging for a video call “pretty soon” to discuss the matter with it being a “critical concern”. Sefcovic also mentioned that he will discuss the issue with US commerce secretary, Howard Lutnick, and will speak to his Chinese counterpart as early as next week.

Meanwhile, Danish foreign minister Lars Rasmussen said that they could possibly look to team up with the US to turn the tables on China:

“We also need to be realistic. This is actually an area of common interest with our friends in the U.S. If we stick together we can much better pressure China to act in a fair way.”

Well, the clock is ticking. But in the meantime, China will have no issues in returning to the more stringent process of allowing for rare earth exports as they had done back in April.

This article was written by Justin Low at investinglive.com.

United States NFIB Business Optimism Index came in at 98.8, below expectations (100.5) in September

• Prior 100.8

The NFIB Small Business Optimism Index declined
2.0 points in September to 98.8. This was the first decline in three
months, though it remains above the survey’s 52-year average of 98. The
Uncertainty Index rose 7 points from August to 100, the fourth-highest
reading in over 51 years.

NFIB Chief Economist Bill Dunkelberg said: “Optimism among small business owners decreased in September. While most
owners evaluate their own business as currently healthy, they are having
to manage rising inflationary pressures, slower sales expectations, and
ongoing labor market challenges. Although uncertainty is high, small
business owners remain resilient as they seek to better understand how
policy changes will impact their operations”

This article was written by Giuseppe Dellamotta at investinglive.com.

OpenAI is building a full AI ecosystem, as Apple did for smartphones and Microsoft did for PCs.