UBS upgrades AT&T to buy: ‘The stock is trading near all-time low valuations’
UBS raised its rating of AT&T to buy from neutral, citing “an overly negative outlook” and saying it expects a turnaround in operating performance. “We believe the stock is trading near all-time low valuations (and the widest gap to Verizon),”...
Wells Fargo is going backward with thousands of job cuts as JP Morgan and other banks boom
Wells Fargo Chief Executive Officer Tim Sloan is cutting jobs with the hope that he can save his own. Ever since taking over as CEO almost two years ago, Sloan has given top priority to move the bank past the...
WTI Oil Outlook: Fresh Recovery Offsets Downside Risk But Break Of Key Barrier At $71.17 Needed For Bullish Signal
WTI oil regained traction and managed to cover a part of previous day’s losses, sparked by President Trump’s request to OPEC to lower prices. Oil bounced from $70 zone where yesterday’s pullback found support, keeping overall bullish bias intact. However,...
EURUSD Now Testing 1.1800 Level
The euro currency continues to push higher against the US dollar, with price testing the 1.1800 level for the first time since July. The EURUSD pair has looked past much weaker than expected eurozone manufacturing PMI data this morning, with...
USDJPY Moving Towards July High
The US dollar has moved within touching distance of the 113.00 level against the Japanese currency, with buyers now looking towards the July trading high, at 113.17. The USDJPY pair has soared over the rising US ten-year Treasury yield, as...
AUDUSD Outlook: Bulls May Take A Breather Before Attacking Strong Resistance At 0.7312
The Aussie dollar maintains firm bullish tone and rallies for the fifth straight day, to crack psychological 0.7300 barrier and hit new three-week high at 0.7304. Bulls show signs of fatigue on approach to strong barriers at 0.7312 (Fibo 76.4%...
USDJPY Outlook: Bulls Eye Key Barriers At 113.20 Zone, Dip Buying Remains Favored
The pair hit new two-month high at 112.87 on Friday, in extension of broader uptrend, after fresh bullish signal was generated on Thursday’s close above 112.37 (Fibo 76.4% of 113.17/109.77 fall). Bullish techs suggest further gains for eventual attack at...
USDCAD Pauses Downside Pressure, Finds Obstacle At 38.2% Fibonacci
USDCAD dipped aggressively over the previous consecutive three days, which have taken the pair below the 20- and 40-simple moving averages (SMAs). The sharp sell-off, drove the pair below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to...
USDJPY Historical Sellers Are Close
As long as the Bank Of Japan is inactive there is a potential risk of the USDJPY currency pair going downside. In addition, Prime Minister (PM) Abe’s victory at the LDP election is probably priced by the markets. Traders should...
China in MEA: more than bricks and mortar
Xi Jinping made a few calculated stops on his way to the 10th Brics leaders’ summit in South Africa this July. The trip – his first since he was reappointed as president of the People’s Republic of China in March...
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