India scraps tax increase to lift equities
By Rashmi Kumar When India’s finance minister Nirmala Sitharaman made her maiden budget speech in early July, she announced a plan to increase the tax on investments held by high net-worth individuals, foreign portfolio investors and alternative investment funds. Tax...
Copper Testing Key Support
Following this morning’s publication of poor manufacturing data from Germany, copper was among the markets that fell as investors worried about a recession in Europe’s largest economy. But with US-China high level trade talks set to resume in October, it...
EU Data Rings More Alarm Bells for Global Economy While Thomas Cook, WeWork and Netflix Remain in Headlines
Major European indices trending lower on the back of weak economic data out of Europe 178-year old travel company Thomas Cook collapses WeWork IPO shelved Netflix stock continues its decline since July Volatile week ahead for Oil as geopolitical tensions...
Euro Plummets as Poor PMIs Point to More ECB Stimulus
Euro is sold off broadly today after shocking poor Eurozone and German PMIs. As Markit put, that data could put pressure on ECB to add to its recent stimulus package. Sterling is somewhat dragged down by Euro and is following...
Stocks: Investors Weigh German Recession Odds Against Central Bank Support
Recession fears are back in town following this morning’s publication of very poor manufacturing data from the Eurozone’s largest economy. Dr Copper was not happy; stocks and EUR/USD dropped, and haven flows into bonds caused yields to weaken, which in...
WTI Oil Outlook: Oil Price Cracks Pivotal Supports On Fresh Optimism Over Saudi Production Recovery
WTI oil price changed direction and fell below important supports at $57.66/44 (10DMA/Fibo 61.8% of $53.93/$63.12) on Monday, following the latest news that Saudi Arabia is restore production from oil facilities damaged in attack last week, as soon as next...
IBM says it’s open to working with Facebook on digital currency
In this photo illustration, a visual representation of a cryptocurrency sits on display in front of a Facebook logo. Chesnot | Getty Images IBM is open to working with Facebook on its digital currency efforts, an executive at the company...
Risk Appetite Turns Softer But Aussie Supported by Services PMI
The forex markets are trading in rather tight range today. Risk appetite turn weaker on renewed worries over US-China trade negotiations. Asian stocks responded by opening lower. Yen could extend the rebound started on Friday if sentiments worsen ahead. But...
Market Morning Briefing: Pound Has Come-Off Sharply From The High Of 1.2582
STOCKS Indian Equities came in from the cold with the big bank tax cut on Friday, with the Nifty closing substantially higher at 11274.20. Thankfully, we had waited for a day before going bearish on Friday. The Nifty is now...
A recession will hit the US within 12 months, market bear David Rosenberg warns
Despite the Federal Reserve’s latest efforts to boost the economy, long-time market bear David Rosenberg warns a recession is coming. The Gluskin Sheff chief economist and strategist predicts economic growth in the U.S. will turn negative sooner than most investors...