Archive
BP remains weak as Iraq, Libya adds to oil glut
The shares of oil and gas company British Petroleum, also referred to as BP Plc (NYSE: BP), have risen by about a dollar following the OPEC’s decision to limit their overall output to between 32.5 million and 33 million barrels
Read MoreImpressive Q2 GDP growth turns Pound bullish.
The weak US employment report and the postponed Fed rate hike indirectly supported the rise of the Euro dollar against the major currencies, including the British Pound, for the most part of September. However, traders know that unless a currency
Read MoreIMF Cites Trade Protectionism As Key Reason For Sluggish Trade
The International Monetary Fund (IMF) has said that rising protectionism across the world and poor trade was resulting in sluggish growth globally. IMF’s remarks came after the World Trade Organization (WTO) released its growth forecast for trade this year, which
Read MoreRising food costs, high unemployment keeps Rand bearish
The uncertainty in the Fed rate hike coupled with mixed economic data kept the Greenback weak against its rivals, including the South African Rand, for most of the time during the second-quarter of this year. The news of South Africa
Read MoreHarvard Economist Says China Is Biggest Threat To Global Economy
Harvard professor Kenneth Rogoff, one of the world’s most well-known economists has warned that the biggest threat facing the world’s economy is China’s debt bubble. Speaking in an interview with the BBC, Rogoff said that the real picture was grimmer
Read MoreWynn resorts turns bullish on GGR revival in Macau
The stock of Wynn Resorts, Limited (NASDAQ: WYNN), operator of high end hotels and casinos, recorded a 12-month high of $109.50 on September 15th . Since then, the stock has fallen about 7% to close at $102.14 on Friday. The
Read MoreAussie to remain strong as commodity prices firm up
On Wednesday, the Bank of Japan took an arguably unexpected path to weaken the Yen. Having been aware of the fact that the market will buy the Yen if the interest rate is sent further deep into the negative territory,
Read MoreBank Of Japan Changes Policy Focus To Bond Yields
The Bank of Japan (BoJ) has announced a radical shift in its monetary policy strategy. The central bank announced earlier this week that it would now be seeking to address interest rates on government bonds to reach its inflation goals,
Read MoreGeneric drugs give bumpy ride to Novartis
The Diovan drug manufacturer Novartis (NYSE: NVS) has shown little movement, so far, after the release of its fiscal 2016 second-quarter results that beat the analysts’ estimates. One of the main reasons for the range bound movement between 80 and
Read MoreBundesbank Chief Warns Of Threat To London’s Financial Industry
Jens Weidmann, the president of Germany’s central bank Bundesbank stated that Britian’s move to exit the European Union (EU) would have a severe impact on London’s position as a financial hub, since UK banks would lose access to the remaining
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