Forex Preview: Yen Dips, Franc Weakens, Euro Gains

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1. Yen Dips, Franc Weakens, Dollar Gains

The yen hovered near its lowest level this year on Monday amid more signs of stabilization in the Chinese economy and an upbeat start to the U.S. earnings season that turned risk-on mode on. The dollar firmed to 112.02 yen, before dropping to 111.94 as of 7:30 this morning. The safe-haven Swiss franc has also eased against the euro, which strengthened to 1.1331 franc as of 7:30 GMT this morning. The EUR/CHF recovered the losses it made late last month to hit a three-week high on the franc.* 

2. Disney Shares Surge +11.54%

Disney shares surged on Friday after the company announced its much-anticipated streaming platform Disney+  on Thursday. Chairman and CEO Bob Iger claimed its company’s brand name gives it an edge over rival streaming service Netflix. DIS closed 11.54% on Friday at $130.06.**

3. Gold Slips To One-Week Low

Gold prices fell to a more than one-week low on Monday, as stronger-than-expected data from China and a robust start to the U.S.earnings season soothed concerns about global economic slowdown, denting the appeal of bullion. Spot gold (XAU/USD) edged 0.28 percent lower to $1,287.28 per ounce as of 8:00 GMT, having touched $1,286.44, its lowest since April 5, earlier in the session.***

4. Chevron Buying Anadarko In a $50 Billion Oil Megadeal

Chevron, announced plans to join forces with Anadarko  in a $33 billion deal on Friday. The deal value climbs to $50 billion including debt. The world’s third-largest energy company expects to pay about $8 billion in cash and the balance in shares for its smaller rival.It expects to realize $2 billion in synergies from the deal, including $1 billion in annual cost savings — raising the prospect of significant job cuts — and another $1 billion from lower capital spending. ****


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*CNBC, April 15, 2019 2:48 AM ET
*Forbes, April 15, 2019 3:53 AM ET
***Reuters, April 15, 2019 03:07 AM ET
****FXStreet, April 15, 2019 05:30 AM ET

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