Aussie turns bearish on less hawkish statement by RBA
The unanticipated outcome of the UK election, which resulted in a hung parliament, and the dominance of the EU members over the UK on the Brexit issue took a toll on the Pound in early June. The increasing immunity of
Read MoreWells Fargo faces investigation over mortgage practices
Barely three months before, Wells Fargo & Company (NYSE: WFC) agreed to pay $110 million to settle the lawsuit related to unauthorized accounts scandal. However, the stock did not decline much due to the Trump rally and the US Fed
Read MoreExperts Say Bitcoin Mining…The Next Forex Scam?
Industry experts are sounding an alarm over the possibility that bitcoin mining may soon become the next forex scam. Several instances of forex scams have been reported worldwide where unscrupulous traders encourage inexperienced individuals to trade in the foreign exchange
Read MorePeso 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
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