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Greenback remains strong on Q3 GDP growth of 3.1%
On the basis of strong retail sales and inflation data, we had forecast the US dollar to strengthen against the Yen in our October 16 report. Further, we had also mentioned our plan to open a long position in the
Read MoreEuro turns weak on dovish ECB tapering
The EUR/NZD pair has appreciated by about 500 pips in the past week to trade at about 1.7040 levels. A decline in the average price of dairy products weakened the Kiwi dollar, while an upbeat trade balance and current account
Read MoreGE misses Q3 EPS estimate on huge impairment charges
The stock of the world’s largest producer of jet engines, General Electric Company (NYSE: GE), plunged to a new 12-month low of $22.10, after reporting a y-o-y decline in the fiscal 2017 third-quarter earnings that missed analysts’ estimates by a
Read MoreEuro remains bullish on strong current account surplus
In our October 6 report, we had forecast a decline in the EUR/JPY pair and expressed our interest to go short near 132.60 levels. We had also mentioned our desire to invest in a put option to gain from the
Read MorePound turns bullish on anticipation of rate hike by BoE
The deadlock in Brexit talks and a steep decline in the index of Industrial Order Expectations turned the Pound weak against the Greenback in mid-September. The proposed tax reform plan in the US also aided the decline of the GBP/USD
Read MoreFCA To Probe UK Banks Links To South African Money Laundering
Chancellor Philip Hammond said that he had written to the Financial Conduct Authority (FCA), the financial regulator in the United Kingdom (UK) and asked them to look into the allegations made by Lord Peter Hain, who is a former cabinet
Read MoreBofA beats Q3 2017 estimates on 9% rise in net interest income
After recording a 12-month low of $22.74, the stock of Bank of America (NYSE: BAC) has recovered to $25 levels. Notably, legendary investor Warren Buffett’s Hathaway Inc. became the largest shareholder in August. Buffett had also praised Brian Moynihan, CEO
Read MoreGreenback up on strong bounce back in Sep retail sales
The Greenback gained momentum against the Yen and other G10 currencies in the first-week of September, as expectations of a Fed rate hike in December increased. The market also pushed the US dollar upwards in anticipation of a tax reform
Read MoreUK Banks Cut Consumer Lending After BoE Issues Warning
The Bank of England (BoE) has cautioned banks in the UK to cut back on their consumer lending as rising credit could pose significant risks to the financial sector and also the wider economy. The BoE wants banks to make
Read MoreEuro up on strong German trade surplus
In the first week of September, the Euro dollar fell sharply against the Canadian dollar mainly due to a dovish statement made by the ECB president Mario Draghi and the unexpected rate hike by the Bank of Canada. However, NAFTA
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