Aramco Takes a Beating

Saudi state-owned energy giant Aramco said Monday its first half net income for 2019 had slipped to $46.9 billion, a first such disclosure for the secretive company ahead of its debut earnings call. “The company’s net income was $46.9 billion for the first half (of) 2019, compared to $53.0 billion for the same period last…

Australian Dollar: USD/AUD (AUD=X) key events are business and consumer confidence reports and employment change

Australian Dollar: USD/AUD (AUD=X) key events are business and consumer confidence reports and employment change In Australia, the focus was on the RBA rate decision. The bank maintained rates at an even 1.0% and RBA Governor Philip Lowe had a dovish message for the markets. Lowe noted that trade tensions remained a pressing concern and…

Euro: USD/EUR (EUR=X) appears that the pair is attempting yet another bottoming effort

Euro: USD/EUR (EUR=X) appears that the pair is attempting yet another bottoming effort Several bottoming efforts in recent months have failed to produce a meaningful turn in EURUSD: the bullish falling wedge entering 2019; the bullish falling wedge between January and May; and the rising channel between May and July. Despite EURUSD hitting a fresh…