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UK’s Reeves: Andy Burnham will be the next Prime Minister
United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves confirms during the European trading session on Thursday that Greater Manchester Mayor Andy Burnham will be the next Prime Minister (PM), following the resignation of PM Keir Starmer.Fxstreet
Thu, Jun 25
US Secretary of State Rubio: Hormuz doesn’t belong to any nation state
US Secretary of State Marco Rubio criticizes Iran for considering a tolling system near the Strait of Hormuz, a critical chokepoint to all 20% of global energy supply, saying, “Hormuz tolling would set an unacceptable precedent” during the European trading session on Thursday.Fxstreet
Thu, Jun 25
ECB’s Schnabel: Interest rates need to raise further to bring inflation down to 2% target
European Central Bank (ECB) policymaker Isabel Schnabel reiterates that the central bank is not done with monetary tightening yet, according to her remarks released by Econostream released during the European trading session on Thursday.Fxstreet
Thu, Jun 25
BoJ's Tamura says central bank should raise rates near neutral as inflation risks overshooting
Bank of Japan (BoJ) board member Naoki Tamura said on Thursday that Japan has already achieved the Bank of Japan’s (BoJ) 2% inflation target and the central bank must raise rates near neutral to avoid underlying inflation from overshooting above target.Fxstreet
Thu, Jun 25
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Nasdaq Drops Over 5%, Philadelphia Semiconductor Index Plunges 12% as Chip and AI Infrastructure Stocks Are Sold Off; Micron Falls 17%, Nvidia Drops 9%
US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand
Today’s Market Recap: Nasdaq Falls Over 5%, AI Stocks Plunge as Nvidia Drops Over 9%, Micron Falls Over 17%, SanDisk Drops Over 22%
US Nonfarm Payrolls expected to pick up in October
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