Archive

Euro Rallies As ECB Postpones Rate Hike Deadline

  The euro hit new multi-week highs yesterday after the European Central Bank revealed the guidelines for its TLTRO III (Targeted Longer-Term Refinancing Operations) facility, which were a cut above than expected. Upbeat German factory orders data also supported the

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Google Acquires Data Analytics Firm Lookers For $2.60bln.

  The stock of Alphabet Inc. (Nasdaq: GOOG) has gained $2.12 or $0.20 to close at $1,044.34 after the company disclosed the decision to acquire Looker, a data and analytics software company in an all-cash deal worth $2.60 billion. It

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Aussie Weakens On Sharp Drop In Iron Ore Prices

  The Aussie fell sharply yesterday after economic data from China, which is the largest trading partner of Australia, came in below expectations. Another reason for the Aussie’s sharp decline is that the yuan is approaching the seven mark against

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Russian Food Retailer Dixy To Use Blockchain For Factoring

  The cryptocurrency market continues in correction mode, which began earlier this week. Bitcoin (BTC) continues to see selling pressure. The cryptocurrency has lost roughly 9% in the past one week to trade at $7,856 levels. Notably, Bitcoin has gained

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Yen Strengthens On Rise In Domestic Capital Expenditures

  The Japanese yen is strengthening against most of the G10 rivals on upbeat business spending data and overall optimistic initiatives taken to further strengthen the domestic economy. So far in 2019, the yen has made substantial inroads against a

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Infineon To Acquire Cypress Semiconductor For €9 bln.

  The German chip maker, Infineon, is acquiring the US company Cypress Semiconductor Corporation (NYSE: CY) in a deal valued at 9 billion euros ($10.06 billion), including debt. Cypress designs and manufactures flash microcontrollers and memory chips that are used

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Euro Gains On Poor US ISM Manufacturing PMI Data

  The euro gained more than 100 pips against the greenback yesterday following the release of disappointing US manufacturing PMI in the US session. The release of German manufacturing PMI and Eurozone manufacturing PMI data that met expectations also enabled

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Japan’s House of Representatives Pass Crypto Regulation

  After the stupendous rally seen last month, the cryptocurrency market is undergoing a slight correction. Bitcoin (BTC) fell sharply by a little more than $1000 earlier this week before recovering a portion of the lost ground to trade at

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GM Tumbles After Trump Slaps Tariffs On Mexican Imports

  Last Thursday, US President Donald Trump announced a 5% import duty on all Mexican goods, effective June 10th, if the country does not take proactive measures to prevent its residents from crossing over to the US as it liquidates

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China Publishes Document Blaming the US For Trade War

  The Chinese yuan started weakening against the greenback on the last day of the trading week, mainly due to the release of discouraging economic data, and also the unresolved trade issue with the US. Notably, so far in the

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