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July 1st - According to Business Insider, sources familiar with the matter revealed that Microsoft (MSFT.O) is planning to announce layoffs soon to continue controlling costs. These layoffs will affect thousands of positions, including sales and consulting roles, as well as positions in the Xbox gaming division. It is understood that the scale of this round of layoffs will be smaller than a similar one last year. Sources indicated that the layoffs will be less than 2.5% of the companys total workforce of 220,000. One source stated that the company plans to announce the layoffs next week, but the exact timing may change. Some affected employees will immediately receive new job offers. In previous years, Microsoft has sometimes laid off employees at the start of the new fiscal year on July 1st. Last May, the company cut 6,000 jobs, and in July, it cut another 9,000 employees. These plans highlight Microsofts efforts to control costs while increasing its investment in artificial intelligence.According to Business Insider, Microsoft (MSFT.O) will lay off less than 2.5% of its total workforce.According to Business Insider, Microsoft (MSFT.O) plans to announce layoffs next week.Market news: Microsoft (MSFT.O) plans a new round of layoffs, affecting thousands of jobs.July 1st - According to the Financial Times, Apple CEO Tim Cook and EU technology chief Hena Virkkunen held "constructive" talks on Tuesday, aiming to ease the heated dispute surrounding Apples newly launched "Siri AI" technology. An EU spokesperson stated that the online meeting involved "constructive exchanges on issues of common concern, and related work is ongoing." Two people familiar with the negotiations said the meeting discussed how Apple could launch the revamped Siri in Europe while avoiding millions of dollars in fines for violating the EUs main competition rules.

The EUR/USD rise is getting close to 1.0200 as investors await US inflation data

Daniel Rogers

Aug 09, 2022 14:58

 截屏2022-08-09 上午10.12.13.png

 

The EUR/USD moves in the 1.0200 range during Tuesday's Asian session after falling from 1.0221 as traders look for fresh data. The major currency pair gained over the first part of the week but lost some of those gains by Monday's close. Recent price fluctuations, however, seem to be constrained by a lack of noteworthy data or events and a cautious attitude ahead of Wednesday's release of the US Consumer Price Index (CPI) for July.

 

Gains in the EUR/USD the day before are shown by higher readings of the Eurozone Sentix Investor Confidence Index and a drop in US Treasury yields. The primary sentiment indicator Index, however, increased in August from -26.4 to -25.2, which was projected to be the value. According to specifics, the eurozone's present state has improved from this month's lowest position since March 2021, when it was -16.5, to -16.3. The expectations index is at its lowest level since December 2008, despite a little increase to -33.8. It is still very close to that level. The US Dollar Index (DXY), in contrast, saw a daily decrease of 0.19 percent to 106.37.

 

The moderate Azione's resignation from the newly formed alliance ahead of the September elections looks to have put negative pressure on the Euro elsewhere due to Italian political worries.

 

The moderate Azione has backed out of its coalition with the Democratic Party and the +Europe party after only agreeing to do so last week. According to party leader Carlo Calendar, "the parts didn't fit." According to Reuters and Market News Publishing US, the alliance was formed in an effort to stop a more conservative government from taking office after the election on September 25.

 

Notably, gains in the EUR/USD the day before appeared to have been constrained by US President Joe Biden's displeasure of China's efforts to retake Taiwan and his censure of House Speaker Nancy Pelosi's trip to Taipei.

 

These actions caused the 10-year US Treasury rates, which had increased by 14 basis points (bps) the day before, to fall by around seven basis points (bps) to 2.75 percent. Wall Street also started Monday's trading day on a positive one before ending on a mixed note, albeit as of press time, S&P 500 Futures are showing minor gains.

 

Participants in the EUR/USD market may be interested in the second quarter's (Q2) US Nonfarm Productivity and Unit Labor Costs data. Forecasts suggest that US Nonfarm Productivity may rise to -4.6% from -7.3%, while Unit Labor Costs may decrease to 9.5% from 12.6%. The news regarding Taiwan and Russia will also be important for determining direction.


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