Libor challengers: ARRs get a boost in August
Barclays became the latest issuer of cash instruments linked to Sofr, the Federal Reserve’s preferred alternative to Libor, when it sold an unusually large asset-backed commercial paper (ABCP) deal from its flagship Sheffield Receivables Corp ABCP shelf on August 24....
AUD/USD Testing 20-Month Low on “Perfect Storm” of Bearish News
As the final week of the month draws to a close, Aussie bulls are clearly licking their wounds. The Australian dollar has been the worst-performing over the month, week, and day so far as the currency faces a “perfect storm”...
The Drivers of the Loonie
Highlights In spite of a strong Canadian economy and rising domestic interest rates, the Canadian dollar has been trading at a discount relative to its fundamental value largely due to trade risks. Our empirical work shows that over the last...
With US Stocks Hitting All-Time Highs, Are They Still a Buy?
As US stock indices break fresh highs, the question on everyone’s mind is how much longer the current bull market can continue. The remarkable resilience of US equities to trade tensions and rising interest rates, combined with a robust US...
Australia & New Zealand Weekly: Overall Activity Conditions Robust, But Wages Remain Weak
Week beginning 3 September 2018 Q2 GDP, preview: overall activity conditions robust, but wages remain weak. RBA: policy decision, Governor Lowe speaks at RBA Board Dinner. Australia: Q2 GDP and Q2 partials, current account, trade balance, retail sales, CoreLogic home...
Wells Fargo said to be investigating reports of gender bias in its wealth division
Wells Fargo has been investigating internal complaints of gender bias in its wealth management division for months and is looking into at least one formal human resources complaint about the division’s head, a man, according to a report in The...
Week Ahead – Aussie in Focus as GDP and RBA Awaited; BoC and Riksbank also Meet; US Jobs Report Eyed Too
The Australian dollar will fall under the spotlight next week as a raft of data is due to be published out of Australia and the Reserve Bank of Australia holds a policy meeting. However, central bank meetings in Canada and...
Weekly Focus: Moment of Truth Approaching for the Riksbank
Market Movers ahead The hearing period for the planned US tariffs on USD200bn worth of Chinese imports is ending, and an announcement of the tariffs is likely to follow. The US job report is expected to show steady wage growth...
Silver Consolidates Near 1-Year Lows; Bearish in Long Term
Silver turned increasingly bearish after it dropped below the 16.00 key-level, the bottom of its range-bound trading recorded between early February and mid-June, printing lower lows and lower highs until it reached one-year lows at 14.31 on August 16. Since...
EURUSD Outlook: Break Below Daily Cloud Base Risks Deeper Pullback
The Euro stands in red during mid-European and early US trading and extends pullback through initial support at 1.1656 (base of thin daily cloud). Thursday’s close in red created bearish outside day pattern, generating initial negative signal which was confirmed...