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Weak risk appetite extends to Asia The reduced appetite for risk seen in the US session yesterday continued through to Asia, with most equity indices in the red. The exception was the Australia200 index, which rose marginally as ratings agency Fitch affirmed the ratings of Australia’s four major banks (a big portion of the index)
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Photographer: Anthony Kwan/Bloomberg© 2019 Bloomberg Finance LP Apple made a big strategic mistake in China recently.  It assumed that its iPhone is so popular among Chinese consumers that they are willing to pay higher prices for newer versions of the product—even in the midst of a US-China trade war. They aren’t. That’s according to a recent
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Competition from large, established technology companies (BigTech) and financial technology (FinTech) could put pressure on the profitability of financial institutions and lead them to take on more risks to protect their margins.  As part of its ongoing monitoring of BigTech and FinTech influence on financial institutions, the Financial Stability Board (FSB),  today published “FinTech and
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Gold has posted gains in the Thursday session. In North American trade, the spot price for one ounce of gold is $1311.55, up 0.40% on the day. U.S data was disappointment, highlighted by contraction in consumer spending. Retail sales fell 1.2% and core retail sales plunged 1.8%. PPI declined 0.1% and unemployment claims jumped to
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NEW YORK (Reuters) – Wealthfront, one of the largest digital wealth management firms known as “robo-advisers”, said on Thursday it is expanding its suite of financial products by introducing a cash account with a rate on deposits of 2.24 percent, significantly higher than the average U.S. rate. Dan Carroll, Founder and Chief Strategy Officer of
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Latest data released by Eurostat – 14 February 2019 GDP +1.2% vs +1.2% y/y prelim ForexLive Preliminary readings can be found here. All in-line with initial estimates. Nothing from the release here to really change the current predicament following the release of the German GDP data earlier. EUR/USD sits at 1.1275 now, recovering some ground
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