Ford Signs Five-Year Deal to Bolster E-commerce
Irish-American online payment processor Stripe, has added Ford to its customers list, with the American carmaker signing a five-year deal with the goal of strengthening Ford’s e-commerce strategy and long-term outlook. Ford aims to use Stripe’s technology to process digital payments across Europe and North America.
Stripe, which is set for an initial public offering in 2022, is attracting investors from all corners of the world, currently valued at $95 billion as of April of 2021.
MACROECONOMIC DATA ANALYSIS
Recent data revealed that Japan’s imports & export figures in December hit record highs since January of 1979, when comparable data was accessible. The 7,881.4 ($69 billion) figure was driven by rising inflation in the Asian nation, according to data of Japan’s Ministry of Finance. Exports escalated 17.5% year-over-year in December, and imports rocketed 41.1% compared to the same time in 2021.
U.S. President Joe Biden stated that it’s suitable for America’s central bank to modify the support it provides to its economy, amid quickly escalating prices and economic strength. As quoted by Biden, “Given the strength of our economy and recent price increases, it's appropriate, as ... Fed Chairman Powell has indicated, to recalibrate the support that is now necessary”.
The U.S. dollar remained solid in early Thursday trading sessions, but its rally has cooled down amid stabilizing U.S. Treasury yields. Despite rising inflationary pressures and a global energy crunch, the dollar index which compares the USD to a basket of six other currencies, inched 0.01% lower to 95.510.
Gold futures trade higher as investors & traders remain wary before the next policy decision of the U.S. Federal Reserve, which is due to occur on the 26th of January. Other nations will also set policy decisions in the same week, including Norway, Turkey and Ukraine. Despite a solid dollar greenback, which typically weighs down on gold, the precious metal edged 0.05% higher to $1,839 per ounce.
Crude oil prices trade lower on Thursday’s early trading sessions, cooling off from 7-year highs, slashing a little increment from previous gains, but remain steady amidst strong demand and global supply disruptions arising from geopolitical issues. Brent futures declined 1.00% to $87.56 a barrel, and WTI futures edged 0.61% lower in a choppy trading session to $85.28 a barrel.
USA: S&P500 -0.97%, Dow Jones Industrial Average -0.96%, Nasdaq Composite -1.07%
Europe: FTSE 100 -0.20%, DAX -0.18%, CAC 40 -0.65%
Asia: Nikkei 225 +1.11%, Hang Seng +3.42%, CSI 300 +0.90%, Nifty 50 -1.08%