RBA More Concerned about Housing Markets, Disinflation Likely Keeps Policy Rate Unchanged for 2019
As widely expected, RBA left the cash rate unchanged at 1.5% for the 26th consecutive meeting. The accompanying statement contained little new information. Yet, it revealed that the members were dovish about the housing market. Meanwhile, disinflation in Australian economy...
UK peer-to-peer lender Zopa gets banking license as it looks to compete with industry giants
British peer-to-peer lender Zopa has obtained a U.K. banking license, clearing a key hurdle in its bid to launch a digital bank and compete with industry giants. The company said on Tuesday that it had been granted an initial permit...
Stocks making the biggest moves after hours: Restoration Hardware, Smartsheet and more
Check out the companies making headlines after the bell: Restoration Hardware shares jumped over 22 percent in the extend session after reporting quarterly earnings. The furniture company raised its fourth quarter and fiscal year revenue guidance. Though Restoration Hardware said...
US-China trade war is not over, says investor Mark Mobius
Noted investor Mark Mobius is betting that the U.S-China trade war is not coming to an end. The truce between the two countries is “good news but I don’t think it’s over,” the co-founder of Mobius Capital Partners told CNBC...
Costco downgraded as members-only retailer faces higher sales hurdles
Tougher sales comparisons and food price deflation at Costco will cut into performance in 2019, according to Citigroup, which downgraded the membership-only retailer to neutral on Monday. Citi analyst Kate McShane expects Costco to be a “standout” next year but...
U.S. Manufacturing Activity Rebounds in November
The Institute for Supply Management (ISM) manufacturing index rose 1.6 percentage points to 59.3 in November. Markets were expecting a tiny tick down to 57.6 from October’s 57.7 value. With the exception of supplier deliveries, which has declined for two...
Trade Wars Armistice Counted Against USD
The currency market started December against the USD. On Monday morning, the major currency pair is trading upwards as investors have no interest in the American currency as a “safe haven” asset. It happened after G20 summit, where the USA...
USDTRY Outlook: Lira Weakens after Repeated Rejections at 200SMA; Higher Oil Prices and Overextended Studies add to Negative Outlook
The USDTRY ticked higher on Monday and probes through falling 10SMA (5.2644), after the downtrend was rejected above 200SMA (5.1216) for the third straight day. Lira was weaker on risk appetite after US/China tariff ceasefire agreement that pushed the dollar...
US factory activity jumps in November while construction spending falls for third month
U.S. manufacturing activity rose more than anticipated in November but construction spending was worse than expected, falling for the third straight month. The ISM manufacturing PMI index hit 59.3 in November, better than the 57.8 expected by economists polled by...
US 500 Index Rises above SMAs after Gap Up
The US 500 index opened higher today as it posted a positive gap, surpassing the 50- and 200-simple moving averages in the daily chart. The index is set to complete the sixth green day in a row after the rebound...
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