Archive
PBOC Says China Needs Local Governments To File For Bankruptcy
According to a People's Bank of China (PBOC) official, local government bankruptcies or even a Detroit-style bankruptcy are necessities for China, as rising debt problems continue to loom over the country's head. Xu Zhong, a PBOC official sees a need
Read MoreBrexit Gloom Weighs on UK Households And Their Financial Future
For the first time in three years more Britons are expecting their personal finances to get worse rather than better over the next 12 months amid the Brexit vote’s impact. NMG Consulting conducted a survey on behalf of the Bank
Read MoreFed’s Mester brushes away flattening yield curve concern
The Aussie rallied against the Greenback last week, mainly due to the dovish Fed minutes and soft PMI data. A rally in the price of iron ore also strengthened the Australian dollar. Still, the AUD/USD pair, which is currently trading
Read MoreCisco tops Q1 2018 EPS estimates, issues strong Q2 EPS view
Networking hardware manufacturer Cisco Systems, Inc. (NASDAQ: CSCO) surprised the market on November 16 by reporting an impressive fiscal 2018 first-quarter earnings that exceeded analysts’ estimates. The quarterly revenues were in line with the Zacks Consensus estimates. Cisco also issued
Read MoreLack of consensus on Brexit bill turns Pound weak
In our November 3 report, we had forecast a downtrend in the GBP/NZD pair. We had also evinced our interest to go long in the currency cross near 1.8860, and simultaneously invest in a call option. A week later, the
Read MoreFacebook tops Q3 estimates, operating margin rises to 50%
Despite reporting an exceptional Q3 2017 results that blew away analysts’ estimates, the stock of social media platform provider Facebook, Inc. (NASDAQ: FB) remains weak at $177 levels. While presenting the results, the CEO Mark Zuckerberg revealed that the operating
Read MoreEuro up on improving economic conditions in EU
In our currency report dated October 27, we had predicted a decline in the EUR/NZD pair from the level of 1.7050. Further, we had also mentioned our interest to open a short position in the spot Forex market. Other than
Read MoreExxon beats Q3 EPS view on higher crude prices
Despite the negative impact of hurricanes Harvey and Irma, the world’s largest listed oil and gas company Exxon Mobil Corporation (NYSE: XOM) reported a better-than-expected fiscal 2017 third-quarter results. The company was able to achieve an improvement in performance mainly
Read MoreYen turns weak on decline in core machinery orders
The USD/JPY pair had been range bound for the most part of October. Tensions between North Korea and the US, the negative impact of hurricanes Harvey and Irma and mixed economic data from both Japan and the US kept the
Read MoreAussie turns bullish on RBA’s optimistic GDP outlook
Since October 25, the Euro dollar has been on a decline against its rivals. The downtrend began after the ECB divulged its tapering plan, which includes the maintaining the current low interest rate for an unspecified period. Concerns over the
Read More