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Aussie turns bullish as iron ore hits $76.10
The Swiss Franc rose against all the major currencies earlier this week as investors rushed to exit from high-yielding assets such as the Australian dollar. The Swiss Franc’s rally began when US and North Korea exchanged fiery threats. As investors
Read MoreLas Vegas beats Q2 2017 estimates, Macao gaming rev. up 29%
Concerns over gaming revenue growth in Macao and weak US dollar resulted in a decline in the stock of casino and resort operator Las Vegas Sands (NYSE: LVS) in the last week of July. Ironically, the company had reported better
Read MoreImpressive job additions in July turn Greenback bullish
A rate hike coupled with the hawkish stance of the Bank of Canada, strong GDP growth, and the crude oil rally has kept the Canadian dollar one of the best performing currency last month. On the contrary, soft inflation data
Read MoreStrong German PMI, job data keeps Euro bullish
Of late the Pound is performing badly against its rivals, except the Greenback. A slowdown in the industrial activity, lack of wage growth, and Brexit related issues continue to harass the Pound. On the contrary, an improvement in the business
Read MoreGE beats Q2 2017 estimates, reaffirms FY17 EPS view
Despite beating fiscal 2017 second-quarter estimates of analysts, the stock of General Electric Company (NYSE: GE) declined to hit a 12-month low of $25.26. The 45% y-o-y decline in the quarterly earnings was primarily responsible for the weakness in the
Read MoreEuro remains bullish on strong Eurozone economic activity
The victory of Emmanuel Macron in the French election and improvement in the Euro zone economy continues to strengthen the Euro dollar against its rival currencies. One of the worst performing currencies against the Euro is the Japanese Yen. Since
Read MoreNovartis beats Q2 2017 estimates, lifts Alcon sales view
The stock of biopharmaceutical company Novartis Ag (NYSE: NVS) is trading near its 12-month high of $86.90. The company reported better than expected fiscal 2017 second-quarter earnings. However, revenues declined from last year as generic drugs pulled down the revenue
Read MoreKiwi up on strong dairy prices, weak US Treasury yields
Off late the Kiwi dollar is on a tear. The currency continues to climb against its rivals despite weak inflationary pressure and retail sales data. While much of the uptrend has to do with the mildly bullish dairy prices, the
Read MoreWeak inflation data turns Pound bearish
The less than hawkish stance taken by the Reserve Bank of Australia in the May monetary policy meeting, weak GDP growth, and decline in the commodity prices kept the Australian dollar weak against the Pound in June. On the contrary,
Read MoreSchlumberger turns bearish on weak oil outlook
The stock of the world’s largest oilfield services company Schlumberger N.V. (NYSE: SLB) hit a 12-month low of $64.15 in the first week of July. It is obvious that the stock is affected by the poor outlook for crude oil.
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