April 13, 2021 8:38 am
AUD/USD edged lower on Tuesday, as the US Dollar rebounded from a nearly three-week low against a basket of six major peers on bets US CPI inflation may pick up considerably in March, which would drive bond yields higher. The Aussie reacted in a rather muted manner to stronger-than-expected growth in Chinese imports in March, […]
Read moreApril 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 moreApril 12, 2021 7:23 am
McDonald’s Corp (MCD) said last week that it planned to hire as many as 25,000 people at its restaurants across the US state of Texas this month. McDonald’s said it would hire for crew and management roles during a three-day event between April 13th and April 15th. In 2020, the company hired nearly 260,000 restaurant […]
Read moreApril 9, 2021 9:28 am
Spot Gold eased from recent one-month high on Friday after a set of macro data coming out of China added to optimism over a swift recovery. The latest data showed that factory gate prices in China had surged at the fastest yearly rate since July 2018 in March, while outstripping a consensus of estimates. “Gold […]
Read moreApril 8, 2021 8:43 am
Futures on US West Texas Intermediate Crude Oil snapped a two-day streak of gains on Thursday, after an official government report revealed the largest increase in US gasoline inventories since early February, which raised concerns over demand in the country at a time when oil supplies across the globe surge. A report by the US […]
Read moreApril 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 moreApril 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 moreApril 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 moreApril 6, 2021 9:05 am
Despite being a notch weaker on Tuesday, AUD/USD was still holding ground above the 0.7600 mark, as the Reserve Bank of Australia left the official cash rate without change at a record low level of 0.10% at its policy meeting earlier in the day and noted that the Australian economy had been recovering at a […]
Read moreApril 5, 2021 9:34 am
GBP/USD started the new week on a strong foot, while hitting a fresh two-week high, supported by prospects of a faster-than-expected reopening of the British economy and a potentially robust economic growth. At the same time, the possibility of a rate cut or the introduction of negative interest rates by Bank of England has already […]
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