News 

Trump may see the EU as a foe, but the US is a whole lot richer because of trade with Europe

“These are the byproducts and legacies of seven decades of expanding international trade and should not be taken for granted” writes Greg Wright for businessinsider.com. Some of my research focuses on the impact of increased international trade on US standards of living, which I show are causally linked during the late 20th century.The top imports from the EU seem almost identical: machinery ($64.9 billion), pharmaceutical products ($55.2 billion) and vehicles ($54.6 billion).For instance, in 2016 the top US exports to the EU were aircraft (US$38.5 billion), machinery ($29.4 billion) and pharmaceutical products ($26.4 billion).Though in some…

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Brokers News 

FXCM directors & officers said to be withholding nearly 2,000 documents from shareholders

“Global Brokerage Inc (OTCMKTS:GLBR), formerly known as FXCM Inc, is refusing to produce documents requested by shareholders, according to the latest filings with the New York Southern Bankruptcy Court” reports financefeeds.com. According to the documents submitted by Global Brokerage’s Counsel on Friday, July 20th, the company is not willing to produce all documents requested by the shareholders. Source: financefeeds.com Share This:

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News 

US dollar falls as Trump accuses ‘China, European Union and others’ of manipulating their currencies

“The U.S. and EU have long had a cooperative trading arrangement, with the European currency traditionally running well ahead of the greenback” writes Jeff Cox for cnbc.com. It is also unusual for a president to openly critique monetary policy, though Trump said he is not concerned by perceptions that his comments could compromise the Fed’s independence.He estimated that currency imbalances were costing the U.S. $150 billion with European Union nations.”In China their currency is dropping like a rock and our currency is going up, and I have to tell you…

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News 

China weakens yuan by most in 2 years

“The People’s Bank of China set the dollar’s reference rate at 6.7671 yuan, guiding the Chinese currency 0.9% lower” writes Saumya Vaishampayan for marketwatch.com. Once trading began in mainland China, the yuan also fell to the lowest level in more than a year.China weakened the yuan by the most in two years on Friday, hours after President Donald Trump called out the currency’s slide. Sharp declines in the yuan that year also triggered capital outflows that China struggled to control.”China, their currency is dropping like a rock,” Mr. Source: marketwatch.com Share…

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News Stocks 

Celebrated Wall Street stock picker Mark Mahaney offers his best tech investing advice: When a company name becomes a verb, it’s time to buy

“He also offered one surprising tips on a good time to pounce on a tech stock: “look for the lucky lexicons.”” writes Julie Bort for businessinsider.com. Wall Street analyst Mark Mahaney, managing director at RBC Capital Markets, is widely known as one of the most accurate stock pickers on the Street.If it operates in a huge market, like global advertising (Google), global retail (Amazon) or entertainment (Netflix), the answer is yes.As big as those companies are, they have still only scratched the surface of the global spending in their industries. Source:…

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News 

Global fintech boom continued in Q2, with 383 startups raising a record $20 billion

“That $6.3 billion was the most raised in a quarter since fintech companies raised $8.3 billion in Q2 2016, of which $4.5 billion was also a funding round for Ant” writes Chris O’brien for venturebeat.com. But even without that massive round, VC-backed fintech companies raised $6.3 billion in funding, up from $5.6 billion in the previous quarter, according to a report released today by CB Insights.In any case, the 383 deals in Q2 2018 were the most ever, topping the 349 deals in Q1 2018. Source: venturebeat.com Share This:

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News 

Fed chair Jerome Powell is whistling past 2 looming threats to the US economy

“Still, a possible yield curve inversion “might get them to pause a little earlier,” James Kahn, Yeshiva University economics professor, told Business Insider” writes Pedro Nicolaci Da for businessinsider.com. The yield of a bond partly reflects expectations for interest rates.That’s the interest rate level that neither stimulates growth or slows it down — something that changes over time and which Fed officials try hard to gauge. Source: businessinsider.com Share This:

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Crypto News 

UK Will Lead in Crypto-Blockchain Space: Report

“BOE Governor Mark Carney criticized bitcoin and other digital currencies, saying bitcoin has failed as a viable currency and as a store of value” writes Nathan Reiff for investopedia.com. DAG Global CEO Sean Kiernan believes that the traditional financial world of the U.K. is primed to integrate with the digital currency space.He suggests that “the U.K. is a major global financial hub and in recent years has become a fintech leader as well.In order for the study above to come to pass, regulators’ opinions on digital currencies will likely have…

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Markets News 

Copper hits 1-year low, approaches bear market on trade concerns

“The metal was also approaching bear-market territory as it traded nearly 20 percent off its 52-week high” writes Fred Imbert for cnbc.com. Copper traded at $2.691 at around 9:50 a.m., down more than 2 percent.Copper shot up nearly 32 percent last year as investors bet on synchronized global economic growth around the world.Copper prices reached their lowest levels in a year on Thursday, as concerns that a global trade war could strain global supply chains and slow down the global economy.”The ongoing major sell-off, driven by escalating trade frictions between…

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Markets News Oil 

The oil market is becoming increasingly dangerous, analysts say — and crude prices are feeling the pressure

“The oil market is likely to become progressively more unpredictable over the coming months, analysts have told CNBC, in the latest sign dynamics shaping crude futures have dramatically shifted since the crude rally began” writes unknown author for cnbc.com. International benchmark Brent crude has tumbled nearly 9 percent from last week’s high of more than $79 a barrel.It’s most recent dip comes amid emerging evidence of higher crude production from OPEC kingpin Saudi Arabia and other members of the Middle East-dominated cartel — as well as Russia and the U.S.…

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