Gold Price Hover Near 1 Month Low

Gold prices hold steady near a onemonth lowGold prices were steady on Monday having dipped to a onemonth low in the previous session after the U.S. dollar firmed on the Federal Reserves plans to gradually keep tightening borrowing costs.Spot gold was little changed at $1210 per ounce. On Friday prices fell to their lowest since Oct. 11 at $1206.13 per ounce.U.S. gold futures were up 0.3 percent at $1211.7 per ounce.FundamentalsThe dollar index inched up 0.1 percent. The greenback [read more]

SAP is acquiring survey software maker Qualtrics for $8 billion

SAP is acquiring Qualtrics for $8 billion snapping up the survey software company just before its planned IPO. The allcash deal has been approved by the boards of both companies and by Qualtrics shareholders SAP said in a statement on Sunday. Qualtrics competes with SurveyMonkey which went public in September. Qualtrics is bigger and growing faster than SurveyMonkey and is also more profitable. SAP has been counting on new cloud products for growth [read more]

The Week Ahead 12-16 Nov

After weeks of activity and high profile events this week is slightly quieter. UK data US UK and the Euro zone consumer price index (CPI) and unemployment wil dominate the economic agenda.US stock Home Depot Cisco and WalMart will announce their earning this week in the US.Economic Calendar (time in HKSG)MondayNoneTuesday0830 Australia NAB business confidence (October) index to rise to 12 from 6. Market to watch AUD crosses1730 UK employment data claimant count to rise by 3200 from [read more]

GBP/USD Forecast: Attempts to defend 50/100-DMA confluence support ahead of UK macro data

The GBPUSD pair met with some fresh supply on Thursday and extended previous sessions retracement slide from threeweek high level of 1.3175. With investors looking past the latest Brexit optimism a report via the Sun saying that the UK PM May could ask for more time to cut a Brexit deal with Cabinet exerted some fresh downward pressure on the British Pound. The selling pressure aggravated further on the back of resurgent US Dollar demand which got an additional boost after the Fed maintained [read more]

AUD/USD extends overnight rejection slide from 0.73 handle

After an initial uptick to 0.7270 area the AUDUSD pair met with some fresh supply and extended previous sessions rejection slide.The pair continued with its struggle to build on the positive momentum beyond the 0.7300 handle with resurgent US Dollar demand prompting some longunwinding trade on Thursday.The greenback recovered its postmidterm election slide and was further supported by the Feds upbeat assessment of the economy reaffirming expectations for a December rate hike.Meanwhile the Australian Dollar seemed unaffected by the latest RBA monetary policy statement [read more]

Thailand's Kasikornbank invests $50 million in ride-hailing firm Grab

Thailands Kasikornbank said Thursday it had invested $50 million in Singapores Grab forming a partnership that will help launch the GrabPay electronic wallet in its sixth Southeast Asian market in 2019.Thailands fourthlargest bank also said the tieup will allow it to use Grabs data on merchants and drivers to formulate loan products and minimize nonperforming loans.Our cobranded mobile wallet and strategic investment in Grab enables us to bring Grabs scale to our merchant and consumer [read more]

US crude closes in bear market territory, settling at $60.67, down 21% from 52-week high

U.S. oil prices dropped for a ninth consecutive session on Thursday falling into a bear market on further signs of growing supply even as data showed record Chinese oil imports.Crude prices have plunged over the last five weeks buffeted by Octobers broader market slump signs of deteriorating demand and rising output from key producers.The decline continued earlier this week after the Trump administration announced it would issue waivers to eight countries allowing them to continue importing Iranian crude for the next 180 days. The United [read more]

Asia stocks slide after Fed keeps rates unchanged; Hong Kong down more than 2 percent

Stocks in Asia were broadly lower in afternoon trade after the U.S. Federal Reserve left interest rates unchanged at its latest policy meeting. The big mover to the downside was in Hong Kong where the Hang Seng index fell 2.39 percent. The mainland China markets which investors are watching closely as trade tensions between Washington and Beijing continue to weigh on sentiment also traded in negative territory. The Shanghai composite shed 1.29 percent and [read more]

Disney Beats Revenues And Earning Forecast

The box office success of Incredibles 2 and AntMan and the Wasp combined with the popularity of the Walt Disney Companys theme parks bolstered quarterly earnings at the Hollywood conglomerate.Diluted earnings per share for the fourth quarter increased 37% to $1.55 while revenues climbed 12% to $14.3 billion. Net income also improved jumping 33% to $2.3 billion and smashing Wall Streets projections.Analysts had predicted that Disney would post revenues of $13.7 billion and earnings of $1.33 cents per share. Its a momentous time for the [read more]

Most Cryptocurrency Pulling Back After Gaining From The Beginning Of The Week

Major digital currency prices traded lower Thursday in New York giving up the majority of Wednesdays advance.Bitcoin BTCUSD was changing hands at $6442.99 down 1.2%. With bitcoin stuck either side of $6500 traders are looking to altcoins for value and one technical analyst said a change in fortune could be on the horizon for owners of smaller digital currencies.After pullbacks to the lower end of narrow trading ranges last week a growing number of altcoins bounced back to reverse downtrends that have [read more]