Posts From Richard W

Richard W

Richard W

Richard is the guy who know everything there is about the financial industry, working in a top firm for over 15 years, he will give the lowdown on some of the biggest companies in the world

Nasdaq Lists Decentralized Finance Index For Blockchain

  The cryptocurrency market remains range bound as there is no big news that could spark high volume trades. Bitcoin (BTC) continues to trade slightly above the $10,000 level. At the time of writing this article, Bitcoin was trading at

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Alibaba Acquires Chinese e-commerce Firm Kaola for $2bln

  China’s e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) has announced that it is acquiring Kaola, a cross-border e-commerce business unit, from the Nasdaq-listed Chinese internet enterprise NetEase for roughly $2 billion. The acquisition would enable Alibaba to further

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Aussie Rises As Q2 GDP Growth Meets Estimates

  The Aussie rallied against the greenback yesterday after the Australian Bureau of Statistics reported second-quarter GDP growth in line with analysts’ expectations. The currency pair also got a boost from better-than-anticipated services PMI (Purchase Managers’ Index) of China. From

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Trump Criticizes GM Over its Mfg. Plants In China

  Once again, US President Donald Trump has condemned automaker General Motors for a decline in the US workforce and moving its automobile manufacturing to China even after receiving a federal bailout. Referring to a Bloomberg report, Trump pointed out

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Canadian Dollar Up On Impressive Q2 GDP Growth

  The eurodollar declined against the Canadian dollar on Friday after data indicated that the Canadian economy expanded at a higher rate than anticipated. The loonie’s recovery was also aided by a big weekly gain in oil prices and an

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Yen Near 3-yr High As Investors Flock To Safe Haven Assets

  The Japanese yen strengthened against the greenback, while 10-year Treasury yields declined as investors ran towards safe-haven assets on concerns that the US-China trade dispute would turn worse as both countries slapped new tariffs on each other’s goods. From

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Bank Indonesia Stuns Market With Unexpected Rate Cut

  The Bank of Indonesia surprised the markets on Friday by cutting the benchmark interest rate for the second successive month in an attempt to boost economic growth amidst a worldwide slowdown. Notably, Indonesia recorded its slowest growth in two

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Euro Remains Range Bound Despite Positive German PPI Data

  The eurodollar remains range-bound against the greenback despite the release of better than anticipated macroeconomic data from Germany. In fact, the eurodollar continues to hover near the two-year low mainly because the higher US Treasury yields have lent the

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US Dollar Weakens On Drop In UoM Consumer Sentiment Index

  The greenback fell against the euro on Friday after the University of Michigan consumer sentiment data did not meet analysts’ expectations. The decline in housing starts also fueled the US dollar’s weakness. However, the euro was unable to record

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Euro Remains Weak As German ZEW Indicator Hits 8yr Low

  The eurodollar remains range-bound against the greenback despite reports of a sharp decline in German investor confidence in August. Notably, a rise in the US consumer price index in July was unable to lend enough momentum for the US

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