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Great expectations – US stocks enter busiest part of the earnings season

Global stock markets rise gently into the peak period of the earnings season A quarter of firms that make up the S&P 500 will report week ending 26th July FANG stocks showing particular strength in the run up to their reporting on Wednesday and Thursday Dollar weakness could spur equity markets further Opinion moving away from a 50 basis…

Draghi – still willing to do ‘whatever it takes’

July 2012 – Draghi’s ‘whatever it takes’ message saved the euro July 2019 – Draghi to present ECB report touted to carry the same message The intervening period has seen ECB policy vacillate between hawks and doves This week’s announcement likely to have at least medium term consequences Euro looking to weaken On Thursday 25th, markets will take…

FINRA orders brokers to disclose all cryptocurrency transactions

FINRA orders member firms to disclose all digital currency deals Many politicians and financial experts also want cryptocurrencies regulated Uncertainty remains over how the industry will be regulated and who will benefit The US Government is intensifying its campaign to monitor the cryptocurrency market. The Financial Industry Regulatory Authority (FINRA), the watchdog for the US broker-dealer industry, recently…

Crypto market follows bitcoin (BTC) into lower territory

Bitcoin (BTC) recedes nearly 5% to just above $10,000 Crypto market follows its lead Bitcoin was still trading at around $10,500 yesterday, but it has dropped perilously close to the important psychological barrier of $10,000 since then. To regain traction, most analysts believe it should strengthen to over $11,000. Ethereum (ETH) remains the second-biggest cryptocurrency in terms of…

Electricity prices for Iranian crypto mining finalised; AS Roma launches fan token

Iranian Economic Commission draws up tariff scheme for crypto mining Miners will not be able to use subsidised local electricity Football club AS Roma launches fan token The Iranian Economic Commission has drawn up a tariff scheme for cryptocurrency mining, according to a report from the country’s economic daily, Financial Tribune. The paper reports that Energy Minister Homayoon…

Tanker crisis – markets give muted reaction to events in the Gulf

Iranian military forces board and seize UK-flagged oil tanker, Stena Impero, as it sailed in Omani waters Vessel was traveling in international waters and in proximity of a UK warship Symbolically and politically important, the vessel has 23 personnel on board UK foreign office dismiss claims that they ‘took their eye off the ball’ Another increase in geo-political…

BoA patent application cites ripple (XRP); tron (TRX) founder wins Buffett lunch

Bank of America patent filing refers to ripple (XRP) ledger Tron (TRX) founder Justin Sun wins lunch with Warren Buffett, invites several other notable cryptocurrency figures Crypto leaders eager to bridge the gap between traditional finance world and cryptocurrency industry A recent filing on Google Patents indicates that Bank of America (BoA) has applied for a patent for…

Forex week ahead – downward pressure?

The USD and GBP look forward to a volatile week ahead Significant announcements are diarised Officials demonstrating an appetite for releasing guidance to the markets Interest rate policies looking dovish All three currencies could lose ground USD, GBP and EUR have all shown weakness and largely traded sideways in week ending 19th July. The EUR/USD pair ended the week…

Fed comments on a big interest rate cut – markets rally on the rumour not the fact

Fed meeting comes into clearer view Interest rate expectations continue to rule the markets Nikkei up 2% overnight on dovish comments from the Fed The same comments later downgraded to ‘academic’ in nature by Fed officials Markets currently split 50:50 on whether cut will be 25bps or 50bps If ‘loose lips sink ships’ then the comments out of…

Analysts see value in AssetMark’s (NYSE:AMK) post-IPO earnings after it prices shares at $22

California-based company prices above estimates ($19-$21) and will start trading on NYSE on Thursday Expects to raise $250m from floatation, offering tipped to close on Monday (22nd July) Voyager Air stalls its debut on London Stock Exchange due to “unfavourable” market conditions Wealth management enterprise AssetMark Financial Holdings was set to start trading on the New York Stock Exchange…

Cryptocurrencies partly recover amid pressure from Congress to stop Libra

Total market cap of crypto industry increases as prices start to recover Bitcoin (BTC), ethereum (ETH), ripple (XRP) and litecoin (LTC) have all gained during the last 48 hours US House Financial Services Committee wants to freeze all work on Facebook’s Libra (LIBRA) After a severe sell-off, the cryptocurrency market has recovered to some extent. Bitcoin (BTC) is…

Netflix (NASDAQ:NFLX) delivers earnings beat, but shares tumble on Q2 subscriber decline

Media services provider posts $0.60EPS and $4.92bn revenue versus $0.56 and $4.93bn consensus US paid subscribers fall 126,000 versus +352,000 forecast International paid subscribers up 2.83 million, short of 4.81 million estimate Shares marked 11% lower on Thursday Netflix (NASDAQ:NFLX) shares tumbled into negative territory on Thursday after the streaming giant lost subscribers in the United States and…

New Binance stablecoin (BGBP) successfully completes Quantstamp audit

Quantstamp gives the green light to Binance stablecoin BGBP All potential flaws have now been removed from the code The stablecoin will be traded on Binance DEX and Binance Jersey The first Binance (BNB) stablecoin is now on its way. The token recently received the green light from Quantstamp, a new contract security firm. The firm, which has…

Airlines – buffeted by consumers despite underlying demand

European airlines hindered by squalls of bad press EasyJet on 18th July posted ‘robust’ trading figures Ryanair downgrades passenger number forecasts due to technical issues Performance relative to peers and rest of the index give opportunity for pairs trading Consumer appetite for flying is changing/decreasing As many of the world’s markets approach high season, press coverage of airline sector…