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On January 23, according to foreign media reports, Apple (AAPL.O) expanded the responsibilities of its Senior Vice President of Hardware Engineering, Terence Turner, to include design work, further solidifying his position as a leading candidate to succeed CEO Tim Cook. Sources familiar with the matter revealed that Cook, who has led Apple since 2011 and turned 65 last November, quietly appointed Turner to manage the companys design team at the end of last year. At Apple, design responsibilities hold special significance. This role, overseeing both hardware and software design, has long been held by senior leaders. Going back to the Steve Jobs era, the companys success has always been closely linked to the look and feel of its products. Sources revealed that Turner is currently referred to as the "executive head" of all design work within Cooks management team. This means he needs to act as a bridge between design staff and Apples senior management.Market news: Apples (AAPL.O) Senior Vice President of Hardware Engineering, Tenas, announced that he will also take on a design role, a move seen as a new signal that he intends to run for CEO.Microsoft 365: We are investigating an issue that could affect several Microsoft 365 services, including Outlook, Microsoft Defender, and Microsoft Purview.On January 23, Google (GOOG.O) announced a new search personalization option that uses user data from other apps across the tech giant to customize search results, its latest move to stay ahead of competitors like OpenAI. This new feature is part of a service called "Personal Intelligence," which allows users to choose to use data from their Gmail and Google Photos accounts to optimize search results in an AI-driven search mode. Google stated that, for example, when searching for travel itineraries, the system might combine hotel booking information from emails with photos from past trips to provide more personalized suggestions.Ukraines state electricity company announced that power outages will be implemented in all regions of Ukraine on the 23rd.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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