Archive

AIG to Shut Commercial, Consumer Divisions

  At the end of the US Financial Stability Oversight Council’s (FSOC) meeting held last Friday, there was no mention of a change in the “Systematically Important Financial Institution (SIFI)” status of global insurer American International Group (NYSE: AIG). This

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Euro Down on Right Wing Party’s Gain in German Election

  The Bank of England’s subtle hint of a possible rate hike in the coming months pushed the Pound higher against its G10 rivals in September. The Euro, on the other hand, was bogged down by the German election related

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DBRS Slaps Wells Fargo with Credit Downgrade

  Wells Fargo & Company (NYSE: WFC), the third biggest bank in the US by assets, reported mixed fiscal 2017 second-quarter results. Furthermore, the bank’s efficiency ratio declined to 61.1%, from 58.1% in the similar period of 2016. The bank

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Micron Stays Bullish on Strong Memory Chip Demand Outlook

  In our September 7th report, we had forecast a rally in the stock of memory chip manufacturer Micron Technology (NASDAQ: MU). Additionally, we had mentioned our plan to invest in a call option. The stock was trading at about

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Euro Up On Strong Manufacturing, Service PMI Data

  The Euro dollar started rising against the Canadian dollar in mid-September, after Mario Draghi, the ECB President, shrugged away concerns about the impact of appreciating Euro on the bloc’s fragile recovery. The Commitment of Traders (COT) report released on

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Freeport to Divest 51% in Grasberg Mine of Indonesia

  The world’s largest publicly traded copper miner Freeport-Mcmoran Inc (NYSE: FCX) reported a swing to profit in the fiscal 2017 second-quarter. That took the share price to $15.71 in August. However, the stock has lost about $2 so far

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Greenback Strengthens on Signs of Possible US Tax Reforms

  In our September 4th report, we had forecast a rally in the AUDUSD pair. We had also mentioned our interest to open a long position in the currency pair 0.7940. Additionally, our desire to invest in a call option

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Google to Acquire HTC’s Smartphone Business

  In the first-week of September, unconfirmed reports stated that internet search engine giant Google, a subsidiary of Alphabet (NASDAQ: GOOG), is in the final stages of negotiations to buy out Taiwanese smart phone manufacturer HTC. That took the stock

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Apple Commits $3bn for Stake in Toshiba Chip Business

  According to the latest report, the iconic iPhone manufacturer Apple Inc (NASDAQ: AAPL) is planning to invest $3 billion in Bain Capital, which is leading the bid to acquire Toshiba’s memory chip business. The Japanese NAND memory chip manufacturer

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Irma to Boost Demand for Construction Materials in US

  The aggressive actions of Pyongyang had little negative impact on the USDJPY pair’s bullish rally last week. The Yen is usually one of the most sought after assets when there is a rise in global uncertainty. However, it was

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