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Canadian dollar weakens on lower GDP growth forecast
The bullish rally in the CAD/JPY pair bolstered the exchange rate by 400 pips to 79.60 in a matter of one month. The Canadian dollar strengthened mainly due to the OPEC’s decision to limit the production of oil to a
Read MoreEU Markets Revive After ECB Indicates Continuation of Stimulus
The European Central Bank President Mario Draghi has indicated that the Quantitative Easing (QE) program which is currently ongoing as part of its stimulus efforts will not be stopped abruptly as it was feared by some market experts. Draghi stated
Read MoreSears gets temporary respite through asset sales
The owner of Sears and Kmart brand stores, Sears Hldgs Corp (NASDAQ: SHLD), reported a swing to a loss in the fiscal 2016 second quarter, compared to profit in the similar period last year. The company also received $300 million
Read MoreIndia’s Modi Calls For Doubling Of Trade Between BRICS Countries
The 8th BRICS Summit that was held in Goa, India concluded earlier this week with the Indian Prime Minister Narendra Modi urging leaders of emerging economies to double the size of trade between them over the next five years. The
Read MorePeso strengthens on changing political landscape in US
The US Presidential election has increased the volatility of the Mexican Peso than any other currency. The most important reason for the increase in the volatility is the stand taken by the Presidential candidate ‘Trump’ against the NAFTA partner. Trump
Read MoreBoE Official Saunders Warns Of Further Drop In Pound Sterling Rate
Bank of England official Michael Saunders has indicated that based on current economic conditions, the pound sterling is likely to fall further. The pound dropped below $1.23 earlier this week after falling to a 31-year low last week. In a
Read MoreAnticipated decline in market share turns AMEX bearish
Credit card company American Express Co. (NYSE: AXP) reported almost a flat fiscal 2016 second-quarter revenue, compared to the similar quarter last year. The Q2 2016 earnings, however, topped the analysts’ estimates. The management had re-affirmed the fiscal 2016 earnings
Read MoreDecline in GDT index weakens the Kiwi dollar.
The increase in the dairy prices coupled with a 10% rise in the price of the new wave of export commodities such as the kiwi fruit, Apple, seafood, and wine enabled the New Zealand dollar to strengthen from 0.6670 in
Read MoreBritish PM Hints At Pushing For Changes In Monetary Policy
Speaking at the Conservative Party's annual conference this week, Prime Minister Theresa May surprised industry observers with a sharp criticism of Britain’s current monetary policy. It was May’s first speech at the conference and she used the opportunity to lay
Read MoreBrexit Hampering Growth in Eurozone While Britain Rebounds
The prospect of Britain’s exit from European Union (EU) is affecting the economic performance of both the UK and countries within the EU. Recent survey results indicate that businesses in both regions are apprehensive of the impact of the separation.
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