US dollar down on concerns over US tax reform plan
In our September 21st report, we had forecast the GBP/USD pair to decline from the level of 1.3510. Furthermore, we had also mentioned that we may go short in the currency pair and simultaneously purchase a put option to gain
Read MoreCiti fined $550,000 by CFTC over improper LEI reporting
The stock of global banking and financial institution Citigroup Inc (NYSE: C) had a tremendous run up in September. The stock, which closed at $73.80 yesterday, had gained about 12% in a month. The hawkish stance of the Fed and
Read MoreEuro strengthens on strong German employment data
The improvement in the Euro zone economy over the past few months has strengthened the Euro considerably against the G10 currencies. Surprisingly, the Euro did not give much of a ground even to the Yen, a safe haven currency, when
Read MoreUS tax reform plan turns Greenback bullish
The Kiwi dollar fell sharply on Monday after none of the parties got a majority in the general election conducted on Saturday. The ruling National Party got 58 seats, while the Labour, under the new popular leader Jacinda Ardern, won
Read MoreUS SEC Looking To Stop Hackers With New Cyber Unit
The U.S. Securities and Exchange Commission (SEC) was hacked in 2016 and officials believe that the breach could have resulted in illicit trades. Hackers are reported to have breached the SEC’s Edgar system where non-public information was accessed to manipulate
Read MoreOrders raining for Boeing, Deutsche bank upgrades PT
Last week, the stock of Boeing Co (NYSE: BA) gained about $10 to record a new yearly high of $256.69. The company has received a series of large orders, including the one from the US government, in September. That was
Read MoreCarney’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
Read MoreThe 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
Read MoreBaidu, 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
Read MoreRuble 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
Read More
