Soft 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
Read MoreAussie 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
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