Trade War Theme Dominates Markets, Dollar Stays Weak
Trade war continued to be the main theme in the financial markets. In particular, investors are getting increasing concerned with the reported USD 40b tariffs on Chinese goods by the US. DOW closed -1.0% lower overnight to 24758.12. S&P 500...
Dollar Tumbles as Trump Preparing for Full Blown Trade War with China
Global markets tumbled on concern that US President Donald Trump is finally starting the steps towards a full blown trade war with China. DOW ended down -0.68%, or -171.58 pts at 25007.03. S&P 500 also lost -0.64%, or -17.71 pts...
Forex Markets Indecisive, US CPI Awaited
Movements in the forex markets are not too decisive for the moment. Sterling made a bull run yesterday but there was no follow through buying. GBP/JPY is staying below 1.3929 near term resistance despite the rally attempt. GBP/JP’s recovery since...
Asia commodity traders: What’s at stake with the Noble restructuring?
Even by its own elevated standards, Noble Group had a busy week in late November. On November 20, several branches of the Singapore state announced they were investigating the troubled commodity trader for suspected false and misleading statements and breaches...
Sterling Soars as UK Reported to be Close to Brexit Transition Deal
Sterling jumps broadly after Reuters reported that UK Junior Brexit Minister Robin Walker said it’s very close to transition deal with the EU. But so far, no detail is reported yet. Meanwhile, Australian Dollar remains one of the strongest one...
Robots are not a threat to bankers, say tech firms
Banks have made large headcount cuts over the last five to 10 years, driven by the financial crash and regulatory changes, says Grant Goodband, client manager at Thoughtonomy. Grant Goodband,Thoughtonomy Thoughtonomy is a technology company developing robotic workers for robotic...
FX: Market responds to BIS report – ‘That’s evolution, baby’
The Bank for International Settlements (BIS) notes that more than three quarters of global interdealer FX turnover was controlled by just six banks in 2016 compared to 14 in 1998, although it also acknowledges that most of that concentration happened prior...
Africa needs international banks – and they need Africa
With the launch of its London office in September, Absa came up with a new slogan: “Proudly African. Truly Global. That’s Absa.” The insistence on the truth of its global nature here almost suggests it is aspirational, at least by...
Chart analysts are getting worried about bitcoin: ‘No touch’
Bitcoin’s drop this week paints a pretty discouraging picture for the near future, technical market analysts say. Critically, bitcoin failed Monday to break above a key level close to $12,000, they said. The cryptocurrency has fallen more than 20 percent...
Wall Street analyst creates new index that tries to tell you when to buy bitcoin
Now is the time to buy bitcoin, according to a new “misery index” for the cryptocurrency created by a Wall Street strategist. “When the bitcoin misery index is at ‘misery’ (below 27), bitcoin sees the best 12-month performance,” Fundstrat Global...
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