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Latest News Headlines
Bloomberg: Pound Is ‘Untradeable’ as Brexit Drama Fuels Volatility Spikes
Wall Street is finding it harder to trade sterling as the drama surrounding Brexit roils the British currency. The pound’s short-lived rally on Wednesday after U.K. Prime Minister Theresa May secured Cabinet backing for her draft deal turned to aggressive selling on Thursday as several ministers resigned and questions of a leadership challenge arose. [more...]
Bloomberg: Pound Falls Most Since 2017 as U.K.'s May Faces Political Crisis
U.K. markets were thrown into turmoil after Prime Minister Theresa May faced the biggest challenge to her leadership since she took office. Sterling slid the most in more than 17 months after ministers including Brexit Secretary Dominic Raab and Work and Pensions Secretary Esther McVey quit May’s top team. [more...]
Bloomberg: Asia Stocks Trade Mixed; Pound Steadies After Fall: Markets Wrap
Asian equities rounded out the week in mixed fashion as investors gauged whether China and the U.S. can de-escalate their trade spat before the G-20 summit later this month. The yen gained. [more...]
Bloomberg: U.S. Stocks Halt Five-Day Skid; Brexit Roils Pound: Markets Wrap
U.S. stocks rose for the first time in six days, with beaten-down technology shares leading the rebound on speculation trade tensions will ease. The pound plunged as Brexit again threw the U.K. government into turmoil. The dollar was little changed, while oil and Treasuries jumped. [more...]
Bloomberg: Ex-UBS Trader Adoboli Lands in Ghana After Deportation Flight
Former UBS Group AG trader Kweku Adoboli, who was convicted for causing a $2.3 billion loss at the bank, arrived in Ghana -- the place of his birth -- after losing a legal fight to stay in Britain. [more...]
Bloomberg: Goldman’s CEO Says He’s ‘Personally Outraged’ by 1MDB Scandal
David Solomon had a message for Goldman Sachs Group Inc. employees shaken by the firm’s involvement in a multibillion fraud scandal: This isn’t us. [more...]
Bloomberg: Facebook Morale, Hurt by Share Drop, Suffers Another Hit
On Thursday, Facebook Inc. employees returned to work in the aftermath of yet another corporate scandal.
The night before, the New York Times had reported that Sheryl Sandberg, Facebook’s chief operating officer, worked behind the scenes to prevent the company’s board and the public from understanding the full extent of Russia’s misinformation campaign on the social network. [more...]
Bloomberg: Theresa May Is Having Such a Tough Time Some People Feel Sorry For Her
With Britain in another meltdown over Brexit, there are signs the attacks on Prime Minister Theresa May aren’t going down well with people away from the febrile cauldron of the U.K. Parliament. [more...]
Bloomberg: Morgan Stanley Says Dollar Bull Run Has Ended, Time to Sell
Escalating trade tensions, climbing Treasury yields and a robust U.S. economy have fuelled investor demand for the world’s biggest reserve currency. The Bloomberg Dollar Spot Index has gained 8 percent since mid-April, cheered on by bullish hedge funds who recently raised their net long positions on the currency to the highest since January 2017. [more...]
Reuters: U.S. retail sales rebound, but consumer spending slowing
U.S. retail sales rebounded sharply in October as purchases of motor vehicles and building materials surged, but data for the prior two months was revised lower and the underlying trend suggested that consumer spending was probably slowing down. [more...]
Reuters: China's U-turn on market curbs brings back the speculators
Speculators are staging a forceful comeback in China’s stock market, bidding up shares in loss-making companies as regulators ease rules around trading, fundraising and backdoor listings to prop up struggling bourses. [more...]
CNBC: After overtaking Apple in smartphones, Huawei is aiming for No. 1 by 2020
Walk around any major city in China, and you’ll see Huawei stores and ads everywhere. That’s because it’s the number one player in the world’s biggest smartphone market, and has become a major contender on the world stage. [more...]
CNBC: UK prime minister has ‘a huge mountain to climb’ as Brexit battle lines are drawn over draft deal
U.K. Prime Minister Theresa May persuaded most of her senior ministers to back the draft Brexit agreement that has finally been struck with the EU — now all she has to do get it approved by a largely hostile Parliament. [more...]
Currency Strength Indicators
The currency strength meter gives you a quick visual guide to which currencies are currently strong, and which ones are weak. The meter measures the strength of all forex cross pairs and applies calculations on them to determine the overall strength for each individual currency. For example, if EUR is strong and USD is weak, it could mean that the currency pair EURUSD could be going up. If both currencies are strong or weak it is better to avoid since it will probably means there is no clear direction for the specific pair.
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