Mayflower’s $3 billion money manager says don’t rule out Dow 30,000 next year
Larry Glazer believes a bullish scenario is unfolding on Wall Street, just in time for the holidays. The $3 billion money manager points to impending Washington gridlock as a major factor in his optimism. The polarized result of the midterm...
Forget bitcoin: stablecoins will change how money works
On Monday October 8, research firm Autonomous Next published its latest monthly figures for the volume of funds raised through initial coin offerings (ICOs), the revolutionary mechanism for founders of new crypto companies exploring ways to exchange value and ownership...
Trade finance: Fines do not dent ING’s commodities zeal
Commodity trade finance, from shipments of Argentine soybeans to Kazakh oil, is one of the few areas of international banking where Europeans maintain a clear lead. The French and even the Dutch still dominate, despite swingeing cuts to their global...
Dollar and Yen Building Up Bullish Turnaround, Canadian Down on Oil Price Free Fall
There were some interesting turns in the financial markets last week. Global equities initially cheered after Democrats sealed a tremendous win in the US mid-term election by regaining majority in the House. But the lift quickly faded as stocks suffered...
Weekly Economic and Financial Commentary: Fed on Track for December Rate Hike
U.S. Review Fed on Track for December Rate Hike The FOMC voted unanimously this week to maintain the target range for the federal funds rate at 2.00%-2.25%, a decision widely anticipated by market participants. All signs point to a rate...
The Weekly Bottom Line: Plenty of News, But Not Much New
U.S. Highlights Between the midterm elections and a Fed rate decision there was plenty of news this week. But after the dust settled there was very little new information. In the midterm elections, Democrats gained a majority in the House...
Week ahead – UK Jobs and German GDP Matters The Most
The Fed kept the powder dry during their last meeting and there was no change in their monetary policy. We also had the Chinese inflation data for October this week. It was below expectations (PPI was 3.3% y/y down from...
US Dollar Flying High on Hawkish Fed Statement
The US dollar rose against most major pairs on Friday. Only the Japanese yen was able to gain against the mighty greenback. The FOMC statement eased concerns that the Fed would hint at a pause in its tightening of monetary...
USD/CAD Bulls in Control as Oil Rout Continues
The number of the day (and indeed the last two weeks) is 10. As in, the price of a barrel of WTI crude oil is declining for the 10th straight day, the longest streak since 1984. As my colleague Fawad...
EUR/JPY Resumes Slide as Stocks Fail to Sustain Post-Midterms Rally
With US stocks struggling to hold onto their post-midterm elections gains, the risk-sensitive EUR/JPY currency pair has potentially resumed its long-term bearish trend after staging a counter-trend rally that lasted for several days until Wednesday. The euro has also been...
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