Week Outlook: Wednesday 07/23

Week Outlook: Wednesday 07/23

WEDNESDAY, JULY 23 Facebook earning report will be in focus.  After successfully solving the mobile advert problem at the time when it seemed the surge in mobile users will make it hard to capitalize on it, Facebook stock rose to all time highs before it retreated in the latest wave of tech sell offs. Analysts… Read more

USD Strong on Rates, Safety Demand

USD rallied against most of its developed nations peers on the recent Fed officials statements that confirmed the central bank sees improvement in the labor market that has faster dynamics that projected by the Bank’s staff. As the prospects of higher federal funds rate pull closer, geopolitical risks are driving USD higher on demand for… Read more

Japanese Stocks Sink on MH17

Japanese stocks sank on the news that Malaysian Airlines plane was shot down in Ukraine underpinning worries that Europe may become politically unstable after six decades since the World War II ended. As investors fled to safety, Yen strengthened and held gains for the rest of the session. Reports of Israel’s engagement in Gaza didn’t… Read more

Currencies Overview pt.2

ECB sees lending channel impaired, but the problem is the weak demand is hampering demand for loans while regulations bolster the case for reduced exposure. The targeted liquidity scheme is expected to draw 700 billion EUR, but how much will banks increase lending remains to be seen. EUR hit 1.3640 on Draghi’s comments, after falling… Read more

GBP Dropps on Manufacturing Report

British pound had the biggest slump after UK manufacturing report shown a contraction in monthly output when compared to the month before. Pound was one of the star performers last few months as ever improving economic data bolstered bets that Bank of England will raise rates sooner than expected. Mark Carney made an unusual comment… Read more

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