$10 Drop Per Barrel Translates Into 1.5%-5% Decline Of GDP
For some it’s a blessing, for others it spells trouble ahead, but one way or another, the oil price drop will have an effect on emerging markets. After hitting a nearly four-year high above $86 a barrel in early October,...
Aussie Eyes Chinese PMIs And Trump-Xi Meeting
Chinese official PMI data for November are due on Friday at 0100 GMT. Aussie traders will be eyeing the numbers given Australia’s China-dependency, which has rendered the currency a liquid proxy for Chinese “plays”. More pivotal for the Aussie though...
Fintech firm Revolut gets green light to expand to Japan and Singapore
British mobile bank Revolut has obtained licenses to operate in Japan and Singapore as it readies an expansion into Asia. The London-based financial technology firm said Thursday that it had acquired a remittance license from the Monetary Authority of Singapore...
Dollar Tumbled on Fed Powell’s Awkward Dovish Turn, FOMC Minutes Now Awaited
Dollar tumbled steeply overnight on Fed chair Jerome Powell’s awkward dovish turn. Within a matter of weeks, interests rate went from being “long way from” to “just below” neutral. Markets took that as a sign Fed is nearing a pause...
Fed Chair Powell’s U-Turn on Interest Rates?
Stock markets rallied after Fed Chair Jerome Powell’s speech at the Economic Club, New York. Market players were thrilled amid their interpretation that Powell has turned dovish, probably succumbed to Trump’s endless criticism. We do not see an abrupt turn...
US manufacturers say Trump tariffs will bring higher prices, not more jobs
The Trump administration’s widening trade war will raise prices for U.S. consumers, but it won’t bring back many manufacturing jobs that have moved overseas. That’s what more than 800 companies said in a survey released Thursday by IHS Markit, a...
Ditch cyclical for tech, health-care stocks going into ‘weaker’ 2019: Credit Suisse
The stock market is headed higher but investors should make some changes in their portfolios to accommodate shifts in the landscape, Credit Suisse chief equity strategist Jonathan Golub told CNBC on Wednesday. “You don’t want to be in cyclical stocks...
Frictionless payments threaten security for online merchants
According to a report by Paysafe, 52% of small to medium-sized enterprises (SMEs) across the globe that operate online worry that the move to frictionless payments, such as transactions taking place via apps, is leaving them open to fraud and...
Eddie Lampert’s ESL Investments reportedly partnering with Cyrus Capital Partners in Sears bid
Sears Chairman Eddie Lampert is partnering with Cyrus Capital Partners in its bid for Sears Holdings, Bloomberg reported on Wednesday. Lampert has said in court filings his hedge fund, ESL Investments, is planning to buy roughly 500 of Sears’ stores,...
After Powell comments, traders see just one rate hike next year
Stocks surged and bonds sold off Wednesday afternoon in a powerful move, after market pros took Fed Chairman Jerome Powell’s comment to mean the Fed is nearing an end of its rate-hiking cycle. Powell said the Fed’s key benchmark interest...
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