Dollar Recovering Broadly, But Held Below Near Term Resistance
Dollar is trading broadly higher today, trying to recovery some of last week’s losses. New Zealand Dollar follows closely, which Canadian Dollar is also a close third. Yen and Australian Dollar are taking turns to be the weakest ones. Mildly...
Aussie Drops As Investors Wait For Government Report On Banks
The USD was little moved in the Asian session. This comes after the Labor department released jobs numbers that were better than expected. In January, the economy created more jobs than had earlier been expected. For a second month in...
Australian Dwelling Approvals Down Sharply
Dec –8.4%mth, –22.5%yr (vs mkt +2.0%). Residential investment set to be a clear drag on growth in 2019 Housing weakness in late 2019 was clearly not confined to just turnover and prices with new dwelling approvals sliding sharply into year...
Brexit is a revolt against a German-run European super-state
Britain’s idea of a united Europe has never been more than a free-trading area. In spite of that, the Germans and the Dutch liked the prospect of sharing the European Union membership with British free-traders, apparently as a counterweight to...
BOE Preview – Downgrade on Economic Outlook as Brexit Remains Uncertain
Again, we expect BOE to vote unanimously to keep the Bank rate unchanged at 0.75%, as well as to leave the asset purchase program at 435B pound, at the February meeting. While the focus of the meeting remains on Brexit...
Market Morning Briefing: Pound Has Immediate Support At 1.3050
STOCKS Global indices extended their upmove on Friday. However, most of the indices are hovering near their key resistances. This week is going to be crucial to see whether they manage to breach those hurdles or not. Dow Jones (25,063.89,...
HSBC and Goldman Sachs back a start-up that lets banks bring rivals’ products onto their apps
British fintech start-up Bud said Monday that it had secured $20 million in a funding round co-led by HSBC and Goldman Sachs. The London-based company’s platform lets banks update their apps to give users access to financial services products from...