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Euro turns weak as ECB mulls extension to QE program
The negative impact of the outcome of the Italian referendum was only short lived. The Euro covered all the losses and even gained against its rival currencies. The Yen, which has already turned weak after the victory of the billionaire
Read MoreBoA signals bearish reversal after going ex-dividend
Since November 2nd , the stock of Bank of America Corporation (NYSE: BAC) has appreciated by about 30% to $21.19, from a low of $16.80. The Charlotte, North Carolina-based bank reported fiscal 2016 third-quarter earnings of $4.96 billion or $0.41
Read MoreRise in demand for commodities keep the Aussie strong
The 4.5% increase in the Global Dairy Trade Index on November 15th strengthened the New Zealand dollar against the Aussie. From a high of 1.0650, the AUD/NZD pair fell to a low of 1.0410. The decline was also aided by
Read MoreOECD Predicts Improved Economic Growth Prospects For The UK
The Organisation for Economic Co-operation and Development (OECD) recently stated that the Bank of England (BoE) made the correct decision when it decided to slash interest rates in the aftermath of the Brexit vote. OECD has revised its forecasted growth
Read MoreAmazon ready to capitalize on rise in holiday spending
The arrival of the shopping season has once again turned the investors’ interest towards the stocks of online retailers. It’s not a wonder that the e-commerce and cloud computing company Amazon.com Inc (NASDAQ: AMZN) tops the list. The stock lost
Read MoreRate cut, housing market concerns turn the Kiwi weak
The increase in the dairy prices and the looming Fed rate hike ensured a decline in the EUR/NZD pair for the past four weeks. Currency traders who had followed our recommendation, given on October 10, to go short at 0.7180
Read MoreIndia’s Forex Business Paralysed After Demonization Cash Crunch
The demonetization of high-value currency in India has led to a sharp fall in average forex sales in the country as a result of forex traders suffering from a cash crunch. Money changers across the country have remained shut stating
Read MoreNovartis turns bullish as Gleevec sales exceeds view
Concerns over the decline in the sales of blood cancer drug Gleevec, which had lost its exclusivity earlier this year, triggered a sell-off in the shares of Europe’s second biggest drug manufacturer Novartis Ag (NYSE: NVS) thereby leading to a
Read MoreIron ore and coking coal keeps the Aussie bullish
One of the currencies which was least impacted by the victory of Trump in the US election is the Australian dollar. The Aussie continues to remain rock solid against the Greenback. The currency has also gained most of the lost
Read MoreRBS Staring At Fine Of Up To $12 billion In DOJ Settlement
British banking major the Royal Bank of Scotland (RBS) is likely to be fined as much as $12 billion (£9.6 billion) in order to settle the allegations of mis-selling that it faces in the United States. The charges relate to
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