Forex Market: GBP/USD rebounds from a nine-week low, dollar takes a breather ahead of CPI inflation data

April 12, 2021 9:28 am
GBP/USD bounced from a nine-week low on Monday, which it hit during the late phase of the Asian session due to blood clot concerns surrounding AstraZeneca’s COVID-19 vaccine, which is considered key for the United Kingdom’s aggressive vaccination campaign. However, the Sterling is likely to see short-term support as restrictive measures in the UK are […] Read more

Shell’s first-quarter fuel sales likely to drop, fuel retailer says

April 8, 2021 7:01 am
Royal Dutch Shell said on Wednesday that it projected a drop in its fuel sales during the first quarter, which indicated fuel demand recovery was still sluggish due to the re-imposition of COVID-19-related restrictions in some parts of the globe. The fuel retailer said that it now expected refined oil product sales within the range […] Read more

Stripe opens an office in Dubai, its first expansion in the Middle East

April 7, 2021 9:30 am
Fintech firm Stripe said on Tuesday that it had opened an office in UAE’s financial capital Dubai, its first expansion in the Middle East. Stripe also said that it was entering the market in a tie-up with payments processor Network International, based in Dubai. Established a decade ago by brothers Patrick and John Collison from […] Read more

General Motors shares gain for a third straight session on Tuesday, Wells Fargo initiates coverage on stock with “Overweight” rating, $67 price target

April 7, 2021 7:44 am
Wells Fargo has initiated coverage on General Motors Co (GM) with an ”Overweight” rating, as it said the US auto maker was well positioned for the electrification of the automobile industry. The Wall Street bank also assigned a 12-month price target of $67, which is based off a 4 times multiple of 2022 core EBITDA […] Read more