1. Apple Lowers iPhone Prices Outside U.S. To Boost Sales
Apple Inc (AAPL) plans to cut the price of some of its iPhones to counter deteriorating sales because of a rising U.S. dollar. In overseas markets such as China, a 10 percent rise in the U.S. dollar over the past year or so has made Apple’s products much pricier than rivals. It should be noted that sales of Apple’s flagship iPhones plummeted 15% during the holiday quarter, a sharp deterioration in a business that the company said on Tuesday that it will continue to struggle in the coming months. Apple also gave a weaker-than-expected sales-and-profit forecast for its fiscal second quarter. Its guidance further predicts for its earnings per share to plunge by as much as 22%.*
2. Royal Mail Shares Plunge to Record Lows
Royal Mail’s share price slumped on Tuesday to its lowest point since privatisation after declining junk mail and business uncertainty meant it delivered fewer letters. Companies have been forced to scale back their mass mail marketing campaigns because of tighter EU privacy rules introduced under the General Data Protection Regulation. Meanwhile, businesses continue to shift from letters to email for communications with customers. RMG shares closed 13% lower on Tuesday and was last seen trading an added 0.65 lower at 258.92GBP this morning as of 8:00 GMT. **
3. AUD Pairs Are In For A Ride Ahead Of An Event Deluge
The Australian dollar moved higher against most major crosses on Wednesday morning after noting a steep dip on Tuesday. AUD pairs will remain highly volatile today as trade talks between the US and China resume in Washington while the US Federal Reserve will also announce its January monetary policy decision at 19:00 GMT this afternoon. The AUD/CHF was last seen trading a whopping 0.8% higher at 0.7168 while the Aussie also gained 0.6% against its US counterpart (AUD/USD) as of 8:10 GMT.***
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*Source: Investing Jan 30, 2019 2:48 AM ET
**Source: Hacked Jan 30, 2019 3:53 AM ET
***Source: Business Insider Jan 30, 2019 03:07 AM ET
