The Euro Outlook This Week

The main driver of the Euro is likely to be PMI data with commentary from European Central Bank (ECB) president Mario Draghi and officials also potentially moving the currency.The composite Eurozone PMI in June which is a highly regarded gauge of activity in the main sectors of the economy is likely to show nochange from the previous months 51.8 when it is released at 1600 on Friday June 21 (hksg time) according to consensus estimates.The PMI is widely seen [read more]

USD Outlook This Week

The most important event for the U.S. Dollar is the meeting of at the U.S. Federal Reserves FOMC to decide monetary policy and set interest rates on Thursday 0200 (HKSG time).The Fed is expected to keep interest rates unchanged at the target range of 2.252.50% but there is an outside chance it may do because of subdued inflation and a negative outlook for the economy.There is a higher chance it could hint at a possible cut in the near future either in the statement or via Chairman Powells press [read more]

Alibaba Proposes One-To-Eight Stock Split For July 15 AGM

BEIJING (Reuters) Alibaba Group Holding has proposed a onetoeight stock split for a vote at the upcoming annual general meeting of shareholders in Hong Kong on July 15 it said in a statement.The statement dated Friday but published on the firms website on Monday said the split will increase flexibility in the firms capital raising activities and that the firms board recommends shareholders to vote in favor of the proposal.The ecommerce giant has filed confidentially for a Hong Kong listing that could raise up to $20 billion a person familiar with the [read more]

Gold Price On Correction Before FOMC This Week

Gold prices inched up on Monday ahead of the FOMC on Thursday at 0200 (HKSG time) Spot Gold edged up 0.1% to $1339.95The Feds meeting is expected to be the biggest event for the yellow metal this week. No rate cuts are expected at the meeting but markets have steadily been increasing bets for cuts throughout 2019 as concerns over the negative impact of U.S.China trade tensions and signs of weak job creation and muted inflation in the American economy were seen to support a more [read more]

Goldman Sachs is reportedly combining four private-investing units with $140 billion in total assets

Goldman Sachs is merging four separate privateinvestment groups into one unit in an attempt to generate steadier income and make itself more attractive to investors The Wall Street Journal reported Sunday.The new division which combines units investing in private companies real estate and other hardtoaccess deals is expected to command roughly $140 billion in assets the Journal reported citing people familiar with the matter.It will reportedly take shape over a period of several months.The newspaper wrote that Goldmans executives are hoping CEO David Solomons changes to a firm that historically [read more]

Bitcoin Above $9,000 Ahead Of Facebook Cryptocurrency Offering

Bitcoin continues its rally ahead of expected Facebook crypto offering this weekThe price of bitcoin crossed the $9000 threshold Sunday for the first time in more than a year peaking around $9343.65 in intraday trading. The digital currency is up more than 22% over the past 30 days and up 142% year to date. Sundays intraday prices were the highest for bitcoin since May 2018 though still well off its alltime high above $19000 in late 2017.Investors have been bullish on bitcoin recently with optimism stoked by [read more]

Dollar holds near two-week high after strong U.S. retail data

The dollar hovered near a twoweek high early on Monday as strong U.S. retail sales data tempered some of the fears about a sharp downturn in the worlds largest economy.That provided some relief to the dollar ahead of the Federal Reserves policy meeting this week. While few expect the Fed to cut rates at Wednesdays policy review traders are wagering that policy makers will do just that in coming months.The dollar index versus a basket of six major currencies was little changed at 97.509 after rising to 97.583 on Friday its highest since June 3.The index had [read more]

Source: South American Online Marketplace Working With Facebook on Crypto Project

South American online marketplace Mercado Libre is working with Facebook on the social networks Libra cryptocurrency project Cointelegraph Brazil reports on June 14.A MercadoLibre executive told Cointelegraph Brazil that the purported cryptocurrency will be integrated into the ecommerce platform as a form of payment. While the anonymous executive confirmed the partnership further details were not forthcoming.The executive stated that it was likely the company would operate as a node in Facebooks purportedly forthcoming blockchain network.Mercado Libre is one of the most popular ecommerce platforms in South America with operations in 19 countries.According to a recent report the [read more]

Oil rises on tensions after Middle East tanker attacks

Oil prices rose on Monday after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East as tensions mounted following attacks on tankers last week. Brent futures rose 27 cents 0.4% to $62.28 a barrel by 0040 GMT. They rose 1.1% on Friday. U.S. West Texas Intermediate (WTI) crude futures were up 18 cents or 0.4% at $52.69 a barrel. They rose 0.4% in the previous session. Prices had jumped as much as 4.5% on Thursday after the attacks on two oil tankers [read more]

Alibaba reportedly files for Hong Kong listing

Chinese ecommerce giant Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing according to one source familiar with the matter.The listing will take place as soon as the third quarter of this year the source said declining to be named as they were not authorized to speak to the media on the matter.Alibaba declined to comment. News of the filing was first reported by Bloomberg.Last month sources said the planned listing could aim to raise as much as $20 billion lining the ecommerce group up for a second blockbuster deal following its [read more]