4 January, 2016 by The TZ Newswire Staff Comments Off on The strongest and weakest currencies as the North American session begins
The strongest and weakest currencies as the North American session begins
January 4, 2016: The JPY is the strongest. The NZD is the weakest.
The first day of trading for the new year, has the JPY as the strongest currency, while the NZD is the weakest. The JPY has been supported as a safe-haven currency. Worse than expected China data, tensions in the Middle East, and a tumbling stock market (S&P down 40 points in pre-market trading/Eurostoxx down 3.21% and the Dax down -4.3%/the Shanghai composite lost 6.86%) has traders looking to the JPY as a safe haven.
4 January, 2016 by The TZ Newswire Staff Comments Off on AUD and NZD both posting 2-week lows as Chinese data continues to weigh
AUD and NZD both posting 2-week lows as Chinese data continues to weigh
Both pairs have been on the back foot since the softer Chinese mftg data
released earlier
AUDUSD found support into 0.7200 but has now broken lower to post 0.7194 while NZDUSD wiped its feet at 0.6760 before dipping again to post 0.6742
4 January, 2016 by The TZ Newswire Staff Comments Off on Dow set for triple-digit losses amid China sell-off
Dow set for triple-digit losses amid China sell-off
U.S. stock index futures pointed to a sharply lower open on Wall Street Monday amid a sharp sell-off in Chinese stocks.
4 January, 2016 by The TZ Newswire Staff Comments Off on Saudi allies scale down ties to Iran amid growing tensions
Saudi allies scale down ties to Iran amid growing tensions
TEHRAN, Iran (AP) — Allies of Saudi Arabia followed the kingdom’s lead and on Monday began scaling down their diplomatic ties to Iran in the wake of the ransacking of Saudi diplomatic missions in the Islamic Republic, violence that was sparked by the Saudis’ execution of a prominent Shiite cleric.
4 January, 2016 by The TZ Newswire Staff Comments Off on Oil rises as market ponders scale of future Iran exports
Oil rises as market ponders scale of future Iran exports
Oil prices edged up on Monday after a breakdown in diplomatic ties between Saudi Arabia and Iran that some speculated could result in supply restrictions, although gains were tempered by data showing some of Asia’s largest economies are struggling. Saudi Arabia, the world’s biggest oil exporter, cut diplomatic ties with Iran on Sunday in response to the storming of its embassy in Tehran following Riyadh’s execution of a prominent Shi’ite cleric on Saturday. Fellow Gulf producer Bahrain said on Monday it too would cut ties with Iran.
4 January, 2016 by The TZ Newswire Staff Comments Off on Nokia gains control of Alcatel-Lucent
Nokia gains control of Alcatel-Lucent
Finland’s Nokia said on Monday it has gained control of French rival Alcatel-Lucent following its 15.6-billion-euro ($17 billion) all-share offer and the two telecom equipment makers would combine on Jan. 14. The French stock market authority said interim results showed Nokia would hold around 79 percent of Alcatel shares. “We will move quickly to combine the two companies and execute our integration plans,” Nokia Chief Executive Rajeev Suri said in a statement.
4 January, 2016 by The TZ Newswire Staff Comments Off on Alibaba’s Ant Financial says seeking funds ahead of planned IPO
Alibaba’s Ant Financial says seeking funds ahead of planned IPO
The funding round, which Bloomberg reported could reach at least $1.5 billion, comes just months after Ant Financial’s first major private placement completed in July. Ant Financial is among a series of financial technology companies tapping investors for pre-IPO financing to fund expansion as Chinese consumers move more of their banking, payments and investing online. Online lending platform Lufax, backed by China’s second largest insurer Ping An Insurance Group Co of China Ltd, has also sought funds from investors ahead of a planned IPO in Hong Kong worth up to $5 billion in 2016.