News
Euro 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.
Read MoreBank of Canada raises rate, hints one more hike in FY17
Lower than anticipated trade balance triggered a New Zealand dollar sell-off in the last week of June. The commodity currency fell against most of the G10 currencies, including the Canadian dollar. Ironically, weak crude oil had little negative effect on
Read MoreWage growth slowdown turns Pound weaker
According to the wage data published by the UK Office for National Statistics, the average weekly earnings from March through May has increased 1.8%, compared with last year, and in line with analysts’ estimates. However, it was below the 2.1%
Read MoreTesla ripe for bounce back on attractive valuations
We had forecasted a decline in the share price of Tesla Inc. (NASDAQ: TSLA) on July 3rd, on the basis of a planned introduction of electric cars by auto manufacturers such as BMW, and delivery related hurdles. We had also
Read MoreIncreasing risk-aversion strengthens Yen
On the basis of strong retail sales and hawkish statement by Carolyn Wilkins, Bank of Canada’s senior deputy governor, we had forecasted a rally in the CAD/JPY pair on June 26th. The article also provided 83.80 and 85.80 as the
Read MoreChina-Hong Kong Launch ‘Bond Connect’ Scheme
The landmark ‘Bond Connect’ scheme that links up China’s bond market with overseas investors was launched on July 3 by China and Hong Kong. Under this scheme, foreign investors will be able to participate in the $9 trillion market without
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