SNB maintains rates, ready to intervene on Franc
In August most forex analysts predicted an uptrend in the AUD/CHF pair, on the basis of a recovery in the price of iron ore, which is the top most export revenue earner of Australia. The forecast was also made on
Read MoreBoE Executive Director Wants Global Forex Code To Be Tweaked
The new global code for the foreign exchange market may need to be updated just months after its introduction. Chris Salmon, executive director for markets at the Bank of England (BoE) has said that the section dealing with the practice
Read MoreAlibaba upgraded by analysts on strong Q1 2018 results
The stock of e-commerce giant Alibaba Group Holding Ltd (NYSE: BABA) recorded a new yearly high of $177, after the company crushed fiscal 2018 first-quarter analysts’ estimates by a huge margin. Impressive growth in cloud and digital entertainment, and continued
Read MoreSurprise rate hike by BoC propels Canadian dollar
The EUR/CAD pair remained range bound between 1.4600 and 1.5000 for the past five months. While the French election, notable improvement in the economy, increase in inflationary pressure, and anticipation of ECB tapering kept the Euro stronger, the Canadian dollar
Read MoreEuro turns weak on soft service sector PMI data
North Korea’s aggressive rhetoric and expectations of an announcement regarding the ECB tapering has strengthened the Euro dollar against the Greenback, Pound and the New Zealand dollar. However, many analysts had warned that the Euro has strengthened to an uncomfortably
Read MoreIBM bets on block chain & AI initiatives for future growth
In mid-July, software company International Business Machines (NYSE: IBM) reported a decline in the fiscal 2017 second-quarter revenues, compared with the corresponding quarter of fiscal 2016. The 21st sequential decline in quarterly revenue prompted a sell off that saw the
Read MoreStrong Q2 GDP growth turns Greenback bullish
The USD/MXN pair has been on a decline for the past six-months. The inability of the Trump administration to push through the much anticipated tax reforms, failure to repeal Obama care, soft inflationary pressure, and weak wage growth had kept
Read MoreUK Govt Urged To Ban Unilateral Increases In Credit Card Limits
A charity organization called ‘Citizens Advice’ has urged the UK government to ban credit card companies from raising customers’ credit limits without permission. The charity made the appeal after it carried out a survey and discovered that one in five
Read MoreING beats Q2 view, gain clients on strong mob banking s/w
Despite reporting better than anticipated fiscal 2017 second-quarter net profit, the stock of ING Group N.V. (NYSE: ING), the largest Dutch financial services company, has lost about 5% to trade at $17.80 levels. A y-o-y decline in net profit was
Read MoreAussie up on strong iron ore, coking coal prices
Weak consumer spending and rising inflation have been keeping the Pound under pressure for the past two months. On the contrary, an unexpected recovery in the price of iron ore, strong employment data, and RBA’s upbeat statement about the Australian
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