Peso turns weak on widened trade deficit
On the basis of a dovish rate hike by the Fed in June and a decline in consumer prices in May, on June 16th , we had expressed a desire to go short in the USD/MXN pair at 18.10 levels.
Read MoreRBA Could End Up Raising Interest Rates Multiple Times
The Reserve Bank of Australia (RBA) could end up raising interest rates eight times in the next two years based on comments made by former board member John Edwards. This estimate was made based on Edward’s study of available economic
Read MoreIntel to lose dominance in server chip market
The stock of the chip maker Intel Corporation (NASDAQ: INTC) has lost about 10% so far in June and currently trades at $34 levels. The stock started declining after Goldman Sachs warned investors from relying too much on FANG stocks.
Read MoreEuro signals downtrend on poor retail sales data
The Euro dollar outlook turned bearish last week as agencies reported a decline in the German factory orders and Italian retail sales. The Canadian dollar, in the meanwhile, strengthened against the Euro, despite a sharp fall in the price of
Read MoreFormer Barclays Execs Charged For Fraud In 2008 Qatari Scheme
Five ex-Barclays executives including former chief executive John Varley have been charged along with the bank for fraud in relation to a fundraising scheme involving Qatari investor sheld during the financial crisis. UK regulator Serious Fraud Office (SFO) filed charges
Read MoreWalmart turns weak as Amazon enters grocery business
The world’s largest retailer by revenue, Wal-Mart Stores (NYSE: WMT), saw its stock fall by 4.65% to $75.24 last Friday. The acquisition of organic food retailer Whole Foods Market (NASDAQ: WFM) by Amazon (NASDAQ: AMZN) paved way for the decline
Read MorePound remains weak on poor retail sales in May
The outcome of the UK election continues to weigh on the Pound, which has now turned to be the worst performing currency in June. Ironically, during March-May period, the Pound was one of the best performing currencies. While the Pound
Read MoreUK Workers Pay Squeeze Leads to Decline In Living Standards
Latest official data indicates that Britain’s living standards have declined because of the biggest workers’ pay squeeze since 2014. Regular pay has fallen by 0.6% year-on- year during the three months leading to April after it was adjusted to reduce
Read MorePound signals uptrend on strong CPI data
On May 29th, a predicted a downtrend in the GBP/USD pair and an interest to go short at 1.2840 levels, with 1.2600 as the target. Additionally, interest to purchase a put option as well. A week later, the GBP/USD pair
Read MoreNew EU Proposal Threatens London Based Euro Clearing Business
The European Union has released a draft proposal that is likely to cause London to lose its position as the top hub for clearing euro-denominated derivatives transactions. If made into a law, it will allow the EU to force the
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