Loonie gains ahead of OPEC, non-OPEC production cuts
Earlier this week, the Statistics Canada reported a 0.3% m-o-m economic contraction in October. The news comes after four consecutive months of economic expansion. Analysts were expecting a growth of at least 0.1% in October. The disappointing economic data pushed
Read MoreECB Report Shows Wealth Inequality Is Widening In Europe
A European Central Bank (ECB) survey has revealed that wealth inequality was rapidly increasing in Europe. According to the report, the top 5 percent of European households own 37.8 percent of net wealth in 2014 which was an increase of
Read MoreCitigroup remains bullish on attractive valuations
The stock of Citigroup Inc (NYSE: C) recorded a 12-month high of $60.91 last week. Several funds, including HGK Asset Management Inc. and Wasatch Advisors Inc, used the ‘Trump’ rally to reduce their holdings. The banking and insurance sector was
Read MoreKiwi dollar weakens on fall in dairy prices
The interest rate cut announced by the Reserve Bank of New Zealand, in November, did not have the intended effect on the New Zealand dollar, which appreciated against all the major currencies including the Japanese Yen. One of the main
Read MoreAnalysts Note Acceleration In China’s Forex And Yuan Outflows
China’s capital outflows are growing at a rapid pace with the government increasing the amount of foreign exchange being sold according to investment firm Goldman Sachs. The yuan is said to be heading towards its highest ever decline in 20
Read MoreGeneral Motors turn bullish on expansion plans
The news of a possible fine by the Chinese authorities, on an unnamed US automobile manufacturer for monopolistic attitude, dragged the share price of Detroit-based General Motors Company (NYSE: GM) to a low of $35.80. However, the details presented below
Read MoreSigns of economic recovery strengthens Singapore dollar
Since mid-November the Singapore dollar remains weak against the Greenback. The primary reason for the weakness is the 0.2% drop in the consumer prices and the poor preliminary GDP growth estimate of 0.6%. The Singapore economy derives a major portion
Read MoreAustralia To Consider A Ban On $100 Currency Denomination
The Australian government is setting up a taskforce to examine a possible ban on the $100 note, part of a crackdown on the country’s extensive cash economy. In a statement, Kelly O'Dwyer Financial Services Minister said There's nothing wrong with
Read MoreSears signals downtrend as hope of turnaround fades
Last week, Sears Holding Corporation (NASDAQ: SHLD), the owner of Sears and Kmart, reported its fifth consecutive quarter of dismal results. The loss widened in the third-quarter, compared with the similar period last year. However, the reported loss was below
Read MoreNew Zealand dollar turns bullish on rise in dairy prices
The announcement of production cut by the OPEC cartel, which pumps out nearly 1/3rd of global crude supply, enabled the price of crude oil to hit a 16-month high of $55.33 per barrel. This further strengthened the Canadian dollar against
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