October 16, 2020 9:46 am
GBP/USD was attempting a rebound on Friday following Thursday’s retreat, as market players were expecting British Prime Minister Boris Johnson’s approach to Brexit negotiations later in the day. Previously, Johnson had set October 15th as a deadline after which Britain would leave the negotiations table in case a deal had not been secured. “There are […]
Read moreOctober 16, 2020 7:34 am
A report by Reuters, citing a person with knowledge of the matter, stated that Wells Fargo & Company (WFC) had fired between 100 and 125 employees in relation with COVID-19 relief fund misuse. According to David Galloreese, head of Human Resources at Wells Fargo, some of the bank’s employees made “false representations in applying for […]
Read moreOctober 15, 2020 9:35 am
Macy’s Inc (M) announced on Wednesday the appointment of Adrian Mitchell, a managing director at Boston Consulting Group, as its next Chief Financial Officer, who will assume the role in November. At the same time, the current interim CFO Felicia Williams is to join the company’s Racial Equity program as a Macy’s Inc Fellow. The […]
Read moreOctober 15, 2020 7:48 am
AUD/USD retreated to a fresh one-week low on Thursday as an announcement by the Reserve Bank of Australia raised speculation that interest rates might be cut in the near term, while the bank might increase purchases of longer-term government bonds. 10-year Australian bonds rallied on Thursday after RBA Governor Philip Lowe said yields were among […]
Read moreOctober 14, 2020 9:36 am
This year’s ‘Black Friday’ deals are to be extended beyond the traditional one-day period at Walmart Inc (WMT), the US retailer said on Wednesday, amid a significant change in clients’ spending habits because of the coronavirus pandemic. Walmart shares closed higher for a fifth consecutive trading session in New York on Tuesday. It has also […]
Read moreOctober 14, 2020 7:10 am
NZD/USD was edging up in early European session on Wednesday following remarks by a senior official from the Reserve Bank of New Zealand, but uncertainty surrounding a coronavirus vaccine and a new US fiscal stimulus package kept the safe haven US Dollar supported, while limiting kiwi gains. In a speech via video link during a […]
Read moreOctober 13, 2020 9:34 am
Benchmark was reported to have raised its rating on Ford Motor Company (F) from “Hold” to “Buy”, citing momentum from new products into the next year. The firm has also assigned a 12-month price target of $10 on the stock. Ford shares closed higher for the seventh time in the past ten trading sessions in […]
Read moreOctober 13, 2020 7:11 am
AUD/USD extended losses from the previous trading day on Tuesday, despite a rally in other risk-sensitive assets, as concerns emerged over worsening trade relations between Australia and China, its largest trading partner. A report by S&P Global Platts, citing sources with knowledge of the situation, said that state-owned utilities and steel mills in China had […]
Read moreOctober 12, 2020 9:43 am
Stifel raised its rating on Teradyne Inc (TER) to “Buy” from “Hold” and also revised up its 12-month price target on the stock from $85 to $115, as the firm sees better growth prospects in the semi test and industrial robotics. Shares of Teradyne Inc closed higher for a third consecutive trading session on NASDAQ […]
Read moreOctober 12, 2020 8:15 am
NZD/USD eased from last Friday’s 2 1/2-week high in Asian trade on Monday, as the offshore Chinese yuan depreciated following an announcement by the People’s Bank of China that the reserve requirement ratio for financial institutions for foreign exchange forwards trading would be reduced. Analysts suggest that such a move aims to achieve a lower […]
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