U.S. GDP seen rising

American consumers delivered for the U.S. economy last quarter. Household outlays for everything from clothing and food to utilities and vacations may have contributed about 2 percentage points, based on the Atlanta Fed’s estimates, to the projected 2.6 percent annualized gain in gross domestic product. A pickup in inventories probably also added to economic growth […]

Australian dollar hit two-year high

The Australian dollar’s recent rally is looking overstretched as traders await two key events Wednesday in Sydney — June quarter inflation data in the late morning and then a lunchtime speech on the labor market and monetary policy from central bank Governor Philip Lowe. The currency has climbed to a two-year high of 79.89 U.S. cents, with its relative strength […]

Hedge funds increase their bets against the dollar

Hedge funds and other large speculators ramped up bets against the greenback versus most major currencies, except for the yen where they doubled down on wagers for the Japanese currency to slide. Speculators boosted their net short on the greenback against other majors, excluding the yen, to 279,100 contracts, the most since early 2013, while […]

The currency, which holds the third place in the crypto market capitalization

Ripple, a San Francisco-based digital currency start-up, recorded $11.06 billion worth of transactions in the second quarter of 2017 as 25 new exchanges listed its token, XRP. XRP finished the quarter priced at $0.263, up by 1,159 percent from the previous quarter and 3,977 percent higher year-to-date. It is currently listed on 30 exchanges. The […]

Bitcoin just got a vote of confidence from Switzerland’s legendary banking system

Switzerland’s financial markets regulator has approved the first Swiss private bank for bitcoin asset management, potentially paving the way for other global banks to offer digital currency products. Zurich-based Falcon Private Bank announced Wednesday that the Swiss Financial Market Supervisory Authority, or FINMA, gave the bank the green light on managing assets based on the […]

UBS Says Commodities Will Stage a Comeback

Firmer global economic growth and greater supply discipline should set the stage for higher commodity prices in the months to come, according to a UBS report dated May 8. * Energy and industrial metals should fare best at the later  stage of an economic upswing; precious metals should lag, strategists including Dominic Schnider write * Crude […]

Volatility in oil prices dropped to the lowest level since March

Swings in the oil market, as measured by the CBOE Crude Oil Volatility Index, dropped to the lowest level since the first week of March as prices climbed after Saudi Arabia was said to likely support prolonging OPEC output cuts. Source: Bloomberg Junior Trader Stefan Panteleev

Jim Cramer Likes Citigroup and Wells Fargo for the Long Term

“The sentiment for the banks just got too negative vs. the reality, and the “free short” aspect got too easy.” “If we didn’t have such mixed messages from President Trump and such indecision in Washington, then I think we would see a rather big run in bank stock, although you need better loan growth to […]