Currencies: EUR/USD Settles Cautiously Above 1.13
Rates: Wait-and-seeFriday’s profit taking move on core bond markets didn’t continue yesterday. Investors hold a wait-and-see approach ahead of key data later this week, including Chinese GDP, EMU PMI’s and US retail sales. First non-financials publish Q1 results today and...
Aussie Falls Sharply As RBA Leaves Options For A Rate Cut
The Australian dollar weakened sharply against the USD after the Reserve Bank of Australia (RBA) released meeting minutes. The minutes showed that officials were considering a rate cut if inflation did not move higher and unemployment rose. In these circumstances,...
Australian Dollar Tumbles on Dovish RBA Minutes, New Zealand and Canadian Also Weak
Commodity currencies are generally under some selling pressure today. Australian Dollar is the weakest one as RBA took another step to laid the ground for rate cut by dovish minutes. RBNZ Governor Adrian Orr reiterated the central bank’s easing bias....
Saudi shopping mall operator launches kingdom’s biggest IPO in five years
Major Saudi shopping mall developer Arabian Centres Company is launching an initial public offering that will be the kingdom’s biggest since 2014, when Saudi Arabia’s largest lender, National Commercial Bank, was listed. The listing, which was approved by Saudi financial...
UBS Hong Kong sponsor ban settles misconduct case
In mid March, the statements appeared in a sequence on the Hong Kong Securities and Futures Commission’s website. “SFC reprimands and fines Merrill Lynch Far East Limited $128 million for sponsor failures.” “SFC reprimands and fines Morgan Stanley Asia Limited...
RBA Minutes – Confirming Dovish Monetary Policy Stance. Low Inflation Raises the Chance of Rate Cut
While RBA had left the cash unchanged at 1.5% in April, the minutes for the meeting was closely-watched. Recall that the central bank turned more dovish as it acknowledged more downside risks to the growth outlook. The minutes reinforced this...
GBP/USD Remains In Uptrend Above 1.3000
Key Highlights The British Pound remains well supported above the key 1.3000 support against the US Dollar. A major bullish trend line is in place with support at 1.3040 on the daily chart of GBP/USD. The NY Empire State Manufacturing...
Bank of Japan chief: Trade is the biggest risk to the global economy
Increasing trade protectionism around the globe is the biggest threat to global economic growth, Bank of Japan Governor Haruhiko Kuroda says. “There [is] some sort of protectionism” around global trade, Kuroda told CNBC’s Sara Eisen in an interview that aired...
Latin America: Investment bankers place emphasis on sequential growth
International capital markets’ deal activity in Latin America for the first quarter of 2019 was much lower than in the same period of 2018, but bankers aren’t panicking – yet. At the beginning of this year, international investment bankers told...
Banks Drag Stocks Down on Slow Earnings Start
The holiday shortened trading week got off to a slow start after earnings duds from Citigroup and Goldman Sachs dragged down stocks. Traders focused on Goldman’s declining backlog and miss on revenue, while for Citigroup the big slide in stock...
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