The Force Is Strong With Microsoft as Amazon Falls to the Dark Side

A long time ago in a galaxy not too far away… Another hectic week in the world of finance is upon us! We’re here, as always, to bring you our unique take on a potentially market-moving story, as well as a round-up of all of the important dates for your trading calendar this week. Let’s go!

Microsoft beats Amazon to bumper US ‘Jedi’ deal

As epic battles go, this one was pretty gigantic. Up for grabs was a tasty $10bn (£8bn) cloud-computing, AI-focussed contract for the Joint Enterprise Defence Infrastructure (Jedi). The contenders? Two of the biggest tech companies in the galaxy, Microsoft (MSFT) and Amazon (AMZN). EPIC!

Wait, what is ‘Jedi’?

Sadly, it’s got nothing to do with green, pointy-eared dudes. Sorry to disappoint! The 10-year contract is aimed at making the US defence department more technologically agile, cloud-computing, AI and everything else between. It’s the contract of the century (so far).

What went wrong?

Amazon were leading the chase for the contract until President Trump began questioning the fairness of the process. In July he told reporters that he was getting “tremendous complaints” about Amazon, regarding the Pentagon contract. Amazon, who stated that it was shocked by the decision, has 10 days to decide whether or not to launch a challenge.

What happened to the markets?

The Jedi award sent Microsoft shares up 3% in after-hours trading on Friday; Amazon’s stock dropped down by 0.8%.

What’s up this week in Forex?

Here’s our usual smattering of super-important trading events that are coming up this week. We recommend keeping all of these guys on your radar:

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