Carney’s hint of gradual rate hikes turn Pound bearish

The GBP/USD pair had rallied about 500 pips in the past one week to hit a high of 1.3618 on Monday. The rally was triggered after the Bank of England’s Governor Mike Carney stated that there is a possibility of

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The Richest Wealth Fund In The World Crosses $1 Trillion Mark

While global debt continues to be a massive problem for countries and firms around the world, Norges Bank Investment Management (NBIM) is having no such problems. The Norwegian wealth fund which recorded its first injection of cash in 1996 has

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Baidu, AMD sign agreement to advance GPU computing

After reporting a 83% y-o-y increase in Q2 net income, the stock of Baidu Inc (NASDAQ: BIDU) has rocketed by about 20% to record a yearly high of $239 last week. A decline in general and traffic acquisition costs enabled

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Ruble remains bullish on strong Q2 2017 GDP growth

Since the beginning of August, the Euro dollar has been on a decline against the Russian Ruble. The recovery in the price of crude oil – mainly due to the production limit agreement and a decline in the Saudi Arabia’s

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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

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BoE 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

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Alibaba 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

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Surprise 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

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Euro 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

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IBM 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

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