Consumer confidence drops more than expected, reaching its lowest point in nearly two years
A key measure of the American economy slipped this month after three consecutive months of increases as consumers saw the trade war with China as an increased risk. The Conference Board’s consumer confidence index declined to 121.5 in June, the...
Debt and deficits won’t be as bad as feared but are still dangerous, CBO says
Both the nation’s debt and deficit will grow more slowly than previously forecast, according to new government data, the result of lower interest rates and reduced disaster spending. The Congressional Budget Office estimated Tuesday that the national debt will rise...
Yen Surges on Renewed Weakness in Treasury Yields
Yen rises broadly today as major treasury yields are resuming recent decline. German 10-year yield hits new record low at -0.33 while US 10-year yield is back below 2.0 handle. Though, New Zealand Dollar is even stronger as record export...
Yen & Gold Jumps on Fresh Iran Sanctions, Dollar Awaits Fed Powell
Yen and Gold surge today as global sentiments are weighed down by new US sanctions on Iran. In particular, Gold hits as high as 1439 and is currently up more than 1%. Nevertheless, New Zealand Dollar outshines Yen and is...
GBPUSD Bullish Above 1.2730
The British pound is attempting to gain upside momentum against the greenback after slipping back towards the 1.2700 level in early week trade. GBPUSD bulls need to sustain price above the 1.2730 level and stage a breakout above the 1.2770...
USD/CAD Canadian Dollar Higher On Dollar Softness
The Canadian dollar rose 0.28 percent on Monday against the US dollar. The greenback is still on the backfoot after the Fed took out the patient language from its FOMC and today President Trump criticized the missed opportunity of not...
Britain’s popular digital bank Monzo doubles valuation to $2.5 billion
Tom Blomfield | Monzo Monzo U.K. online bank Monzo has raised £113 million ($144 million) in a fresh round of funding led by the U.S. start-up accelerator Y Combinator. Y Combinator, which has helped create companies such as Airbnb and...
The Bank of England’s recipe for managed decline
In any legal business, the ability to operate is at the discretion of the government. This is particularly true in banking, where a licence has traditionally been akin to a financial system sinecure. Now, ultra-low and negative central bank interest...
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