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Stocks Drop, Bonds Gain, Euro Falls on ECB Minutes

Stocks Drop, Bonds Gain, Euro Falls on ECB Minutes

The euro fell against all its major peers and European stocks dropped as minutes from the region’s last central bank meeting revealed concern among officials that the currency could overheat. All major U.S. equity gauges were down in early trading. The Stoxx Europe 600 Index briefly reversed its decline before sliding again as weakness in […]

Labour Data Lifts The Sterling Against Euro

Labour Data Lifts The Sterling Against Euro

The British pound sterling recovered on Wednesday, from its lowest levels against the euro in 10 months after data showed wages rising faster than expected in the three months to June, and the unemployment rate falling further. Analysts had called for earnings to rise by as much as 1.8 percent and the 2.1 percent jump, […]

Morgan Stanley Predicts Euro Parity With Sterling For 2018

Morgan Stanley Predicts Euro Parity With Sterling For 2018

U.S. investment bank Morgan Stanley raised its currency forecasts for the euro on Friday, predicting it would hit $1.25 early next year and be one-for-one versus the Britain’s pound sterling, for the first time in its 18-year history. Morgan Stanley also cut its forecast for the Mexican peso to 20 per dollar MXN= in the third quarter […]

China’s Yuan Rebounds Vs Dollar,, Set To Snap 4-day Losing Streak

China’s Yuan Rebounds Vs Dollar,, Set To Snap 4-day Losing Streak

Poised to break a four-day losing streak, China’s yuan rebounded against the U.S. dollar by midday on Thursday, as the greenback weakened on growing uncertainty over the pace of U.S. interest rate rises. The dollar fell overnight after the release of minutes from the Federal Reserve’s July meeting that showed policymakers appeared increasingly wary about […]

Ethereum Hits About 50% High In 2 Weeks

What’s behind the rise? While bitcoin’s bitter infighting and subsequent price rise has taken center stage, rival cryptocurrency ethereum has been quietly pushing higher in the background. On Wednesday, ethereum hit $314.75, the highest level in over a month since it reached $322.28 on June 29, according to CryptoCompare, a platform monitoring live prices of major cryptocurrencies. The price […]

Bitcoin May Soon Hit Goldman Sachs’ N1.4m/$ Mark

Bitcoin May Soon Hit Goldman Sachs’ N1.4m/$ Mark

Despite the high volatile nature of bitcoin, it has over time proven that it is not going anywhere down any time soon. As at the time of writing this article, the price of one bitcoin to dollar was USD3411.45. When you convert that in naira, you have N1,246,032.1. If it continues this way, the world’s […]

Yaun Slumps After Making 4.5% Gain

Yaun Slumps After Making 4.5% Gain

The top-ranked yuan forecaster is betting the currency’s stunning advance has run its course for now. Skandinaviska Enskilda Banken AB has exited its long positions after making a 4.5 percent profit this year, according to Sean Yokota, the bank’s head of Asia strategy in Singapore and the most accurate forecaster for the yuan in the […]

Forex: Naira Rate Nears Black Market As CBN Loosens Up

Forex: Naira Rate Nears Black Market As CBN Loosens Up

Nigeria’s foreign-exchange market is starting to see the unification that bond and stock investors have been calling for. The naira weakened 13 percent against the dollar last week on the main interbank market after monetary officials told lenders to start quoting trades made in the so-called Nafex currency window that was opened for investors in April. The […]

Bitcoin Hits Fresh Record High, Breaks Through $3,500

Bitcoin Hits Fresh Record High, Breaks Through $3,500

Within the bitcoin community, a so-called “scaling debate” has been going on. There is a big backlog of transactions on the bitcoin blockchain — the technology that underpins the cryptocurrency. Bitcoin broke through the $3,500 mark for the first time on Tuesday hitting a fresh record high as uncertainty over the future of the cryptocurrency subsided. The […]

Is U.S. Dollar About To Hit An Inflection Point

Is U.S. Dollar About To Hit An Inflection Point

It seems that expectations for the U.S. government to get anything done are too low and for the euro are too high The U.S. dollar index has fallen by around 9 percent since the start of the year but that could be about to change, according to strategists at Wells Fargo, who suggest the stocks and sectors […]

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