Sterling Hammered after CPI, Dollar Overwhelmed by Swiss Franc and Yen
Sterling’s selloff accelerates as UK CPI missed market expectations. And that lowers the chance of a should-be-done-deal August BoE hike. In the background, Brexit uncertainty is also weighing on sentiments towards the Pound. Meanwhile, Australian Dollar and Euro are trading...
Mortgage applications fall 2.5% as buyers struggle to find affordable homes
Home prices are high, listings are lean and potential buyers are frustrated. There is plenty of demand, but it is not translating into home sales. Mortgage applications dropped 2.5 percent last week, seasonally adjusted, according to the Mortgage Bankers Association....
Morgan Stanley shares surge more than 3% after profit tops the Street on strong trading and investment banking
Morgan Stanley crushed profit expectations on trading and investment banking results that exceeded analysts’ expectations. The New York-based company said profit surged 39 percent to $2.44 billion in the second quarter from a year earlier, exceeding the $2 billion estimate...
Aussie Trading Higher In The Morning Session
For the 24 hours to 23:00 GMT, the AUD declined 0.50% against the USD and closed at 0.7381. LME Copper prices declined 0.02% or $1.5/MT to $6141.5/MT. Aluminium prices declined 0.94% or $20.0/MT to $2110.0/MT. In the Asian session, at...
Gold: Yellow Metal Trading Slightly Higher In The Asian Session
For the 24 hours to 23:00 GMT, Gold declined 1.04% against the USD and closed at USD1227.70 per ounce, as the US dollar strengthened, after Fed Chairman, Jerome Powell’s optimistic view on the US economy. In the Asian session, at...
Dollar Surges as Fed Powell Affirmed Policy Path, Sterling as Weak as PM May
Dollar is staying firm in Asian session today after overnight rally. Markets received Fed Chair Jerome Powell’s composed and balance testimony rather well. And he basically affirmed that Fed in on track for its projected rate path. In particular, USD/JPY...
Hedge fund billionaire Einhorn places sixth in major poker tournament
Hedge fund billionaire David Einhorn busted out of a $1 million buy-in poker tournament just short of taking home prize money, Tuesday night in Las Vegas. Einhorn and 26 other businessmen and poker players each ponied up $1 million to...
A good year for local emerging capital markets
It might not be a great year for emerging market returns, but real progress is being made in perhaps the most important part of, well, emerging as a market – the development of local financial markets. The banks on Euromoney’s...
After-hours buzz: SAH, CSX & more
Check out the companies making headlines after the bell: Sonic Automotive stock plummeted nearly 10 percent in after-hours trading. The automotive retailer said that gross margin pressure in key brands negatively impacted its second-quarter results. Jeff Dyke, Sonic Automotive’s executive...
UK Inflation & Retail Sales Next to Give Direction to the Pound
With the UK jobs report coming in line with forecasts, with the unemployment rate remaining at its lowest since the 1970s and average earnings inching down, the next challenge for sterling will come on Wednesday when the Office for National...
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