Swiss Franc strengthens on strong retail sales, PMI data
Better than anticipated flash manufacturing PMI and strong demand for homes enabled the US dollar to climb against the Swiss France in July end. The weakness in the Swiss Franc was also aided by an excess of Franc in the
Read MoreGM turns bearish on concerns of US market slowdown
Last week, General Motors Company (NYSE: GM) reported a better than anticipated fiscal 2017 second-quarter earnings. However, the revenues fell short of estimates. Additionally, the second-quarter net income was 40% lower compared to last year. The company is also facing
Read MoreSoft inflation, dovish RBA keeps Aussie weak
Expectation of a change in stance to hawkish by the RBA had kept the Aussie bullish against the Canadian dollar for the most part of July. The Australian dollar’s rally against the Loonie was also favored by the weakness in
Read MoreSaudi’s decision to limit oil exports strengthens Loonie
Improved economic outlook and hint of another rate hike by the Bank of Canada enabled the Canadian dollar to rally against the Yen for the past one-and-a-half month. The Yen was also weakened by an increase in the unemployment rate
Read MoreJnJ beats Q2 2017 EPS estimates, raises FY17 outlook
Aided by a 4.4% increase in global sales, the medical devices & pharmaceutical company Johnson & Johnson (NYSE: JNJ) reported a better than anticipated fiscal 2017 second-quarter earnings. However, the revenue came below the Wall Street estimates. Thus, the stock
Read MoreEuro up on rising demand for Euro-denominated assets
In our July 10 report, we had forecasted the EUR/CAD pair to decline to 1.4460 levels. We had also mentioned our interest to open a short position in the currency market at 1.4680. Additionally, we had also expressed our desire
Read MoreInfosys beats Q1 estimates, raises FY18 growth view
On the last day of June, India’s second largest software technology company Infosys Ltd (NYSE: INFY) reported its results for the first-quarter ended June. At a time when Gartner has cautioned a decline in software spending across the globe, Infy
Read MoreGreenback turns weak on large trade deficit
Unexpected economic contraction in the first quarter of 2017 and junk status of the foreign currency denominated bonds weakened the South African Rand against the Greenback in June. The US dollar also got a boost from the Fed rate hike
Read MoreElliot Management Makes Counter Bid Against Berkshire Hathaway
Hedge fund Elliott Management Corp has made a counterbid besting Berkshire Hathaway Inc's offer of $9 billion offer to acquire Energy Future Holdings, the bankrupt Texas power utility. Elliot which is the biggest creditor to Energy Future published details of
Read MorePositive job, PMI data strengthens Canadian dollar
On the basis of a decline in the Eurozone current account surplus and an upbeat sales data reported by Statistics Canada June 23, we had forecasted the EUR/CAD pair to decline from a level of 1.4840. We had also stated
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