Apple has removed all major VPN apps from its App Store. VPNs in China are normally used to help internet users overcome the country’s censorship system. The Chinese government effectively illegalized VPNs when new rules issued in January required them to receive government approval in order to operate. Apple may believe it is best for its business to co-operate with requests from Beijing, but this App Store purge just created one of the biggest setbacks for the free internet in China’s history.
HSBC has reported a 5% rise in profits in the first half of 2017. Europe’s biggest bank posted a pre-tax profit of $10.2bn (£7.8bn) for the first six months, up by about $500m. As widely expected, it has also announced a share buyback of up to $2bn which it expects to complete by the end of 2017. HSBC’s share price has rallied in the past year, helped by the weak pound which makes profits earned abroad more valuable when repatriated to the UK.
Facebook Stories is now unlocked for public sharing. This may be seen as an attempt to clone Snapchat, by letting social media stars, celebrities and public figures to post Stories publicly. Public sharing gives Facebook Stories the potential to mint or popularize internet celebrities the same way Snapchat and Instagram Stories can. Facebook has proudly shared the rapid traction of Instagram Stories, both of which have over 250 million daily users. That makes them bigger than Snapchat, which has 166 million daily users for its whole app and has seen growth slow down since the Facebook-owned competitors launched.
With the pair retaining its upside pressure the past week, more strength is likely in the new week. Resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. However, it may fluctuate in the next few hours, hence consider using the Classic Digital Options for this one.
GBP/USD reversed directions last week. The pair closed at 1.3120, its highest level since September 2016. The US dollar is under pressure, with mixed numbers in Q2 and worries that the Fed might not raise rates in December. Brexit worries continue to darken the mood of investors, as the start of negotiations between the UK and the EU has revealed wide gaps between the two sides. Consider using the Long Term Tool to trade this pair during the day.
Canada’s GDP expanded 0.6% in May, easily matching analysts estimate of 0.6%. USD/CAD closed the week at 1.2416, its lowest weekly close since June 2015. The Canadian economy has been improving, and the recent rate hike by the BoC has made the Canadian dollar more attractive. It may continue to fall in the upcoming trading hours, keep a close watch and it is advisable to use the 60 Seconds Trading Tool.
Following the recent report, consider trading on shares of HSBC-HK today, which may most likely be bullish.
In regards to the latest VPNs removal from its App Store, it is recommended to trade on Apple stocks (NASDAQ: AAPL). Consider using the TradeReplica for this one.
Facebook has been continuously piling on with new features and innovation lately. It is advisable to trade the NASDAQ: FB today, which may positively react to the latest update.