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The pair was not able to sustain its strength after it failed to break out from key resistance line, which will send the pair lower towards a major support line. The Royal Bank of New Zealand (RBNZ) cut its benchmark interest rate in response to the escalating trade war between the United States and China. This will cause an advantage for New Zealand exports...

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USD/TRY The pair was seen trading at the tip of the “Falling Wedge” pattern and was expected to continue going down in the following days. The 2016 failed Turkish coup attempt started the end of the relationship between the United States and Turkey. The coup was led by U.S.-based preacher Fethullah Gulen within the Turkish military. Three (3) years after the...

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The forex markets waggled after Italy Deputy Prime Minister Matteo Salvini called for a snap election. Salvini urged the prime minister to reconvene parliament to back his claim that the coalition government is no longer solid. The EURUSD pair clocked in some losses after the news broke out. Additionally, stocks and bond markets in the EU zone reacted more...

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The unexpected interest rate cut last Wednesday from the Reserve Bank of New Zealand caused a wave of shock to other major currency pairs in recent sessions. Analysts believed that the depleting value of the Chinese yuan has pushed China’s allied country, New Zealand, to take actions. The Chinese government allowed the yuan to go down as a countermeasure for...

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Walt Disney warned investors and analyst that the Fox deal, which closed last March would further affect earnings. On Tuesday, CFO Christine McCarthy stated the firm’s assumption in its fourth-quarter profit would be lower due to the acquisition. And it will be down by around 45 cents per share. But the house of the mouse remains to have a positive outlook on the...

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A new tax bill on cryptocurrency was introduced in the United States House of Representatives. The bill is aiming to allow the exclusion of gain or loss on similar exchanges of virtual currency. That means that BTC might be tax-exempt. The name of the bill is the Virtual Value Tax Fix Act of 2019, originally introduced by Ted Budd. The bill has to introduce...

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Another essential commodity which is gold benefited from the global economic problems. Price of spot gold increased by 0.2% to $1,476. It is worth reminding that on Monday gold prices reached the highest point in more than six years. U.S. gold futures also rose on Wednesday by 0.2% to $1,487 an ounce. The price of gold continues to increase thanks to favorable...

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Chinese state media supported the government’s move on yuan’s weakening, saying it was normal. The press stressed on economic benefits that come with a flexible currency. According to Xinhua News Agency’s Monday report, the yuan falling beyond 7 a dollar is a result of a market drive. The move shows the exchange rate is now more flexible. The report also said...

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NASDAQ stocks went down after taking a hard jab from Shanghai’s Tech Exchange. China’s new Science and Technology Innovation Board worried American NASDAQ investors. The NASDAQ 100, the index for the 100 largest technology companies in the US, fell 3.60% or 277.11 points from its previous close. All the 100 companies struggled to hold their ground after the...

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The Ring brand of Amazon has an app named Neighbors. And this allows people to learn about crime in your area. But recently, it causes people to raise their privacy concerns. According to Gizmodo, Amazon is currently working to tap into 911 call systems to give updates to neighborhoods. Also, it is communicating with 225 police departments around the United...

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The Iranian economy is struggling to deal with economic problems. U.S. sanctions hurt the local economy. One of the possible solutions for Iran was to authorize crypto mining. However, to start crypto mining, potential investors might receive permission from Iran’s Ministry of Industry, Mine, and Trade. Another condition is that crypto mining should take place...

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Bitcoin is one of the best-known cryptocurrencies, and this is no coincidence. Right now, the price per Bitcoin surpassed $10,000, to be the more accurate current price is $10,544 per Bitcoin. It is worth mentioning that there is a chance that this trend will continue in the future. There are many factors which influence the price of Bitcoin. However, some of the...

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Fx Markets: Concerns about Brexit and the Bank of England’s (BOE) meeting this week are putting pressure on the Pound. The cost of insuring the pound against high volatility over three months is the highest among the G-10 exchange rates as the UK builds up for no-deal Brexit preparations. Markets expect the BoE to remove support for the currency by not raising...

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Oil prices decreased on the first day of the month. Price of Brent crude oil, which is the international benchmark decreased by 85 cents to $64.20 a barrel. West Texas Intermediate (WTI) crude oil is in a similar position as the price fell by 89 cents to $57.69 a barrel. There are many reasons which influence oil prices. One of the major factors which contributed...

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Apple outperformed the expectations of China. And this has been one of the key factors which led to a disappointing quarters earlier this year. Tim Cook, the Apple CEO, said that the chopping of the Chinese VAT tax was a great help. Also, he did not see any hints of a nationalistic boycott of the American firm in China. Cook stated, “The VAT reduced from 16% to...

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The pair was seen to continue its steep decline and to further go lower towards a major support line. Australia is relying heavily to the United States to thwart China’s growing military and economic influence in the Asia-Pacific. Australian Foreign Minister Marise Payne said that the U.S. is planning to build additional military infrastructure in Australia once...

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Markets predict that the Fed will reduce interest rates by 25-basis points. Simultaneously also raising sentiment on whether there would be further policy easing. A rate cut and further policy easing would insulate the U.S. economy from the slowing global growth and the implications of the ongoing trade conflicts. Although the markets still expect a rate cut,...