Deutsche Bank: is it really different this time?
“It is different this time,” says chief executive Christian Sewing, of Deutsche Bank’s latest restructuring. Management and the board are not asking shareholders to stump up new money to meet the €7.4 billion costs of exiting equity sales and trading,...
Sewing’s savings: how Deutsche Bank will try to turn itself around
Deutsche Bank chief executive Christian Sewing on Monday morning unveiled what he described as the most radical transformation of the bank in decades. “We are doing nothing short of reinventing Deutsche Bank,” he told participants on a conference call intended...
Yen Strengthens Again on Falling Treasury Yields, Swiss Follows
Yen strengthens broadly today, mainly follows decline in major benchmark yields. German 10-year yield hit another record low at -0.597. US 10-year yield also breaks 1.7 handle. Yields are pressured after deeper the surprised -50bps cut by RBNZ and expectation...
EURUSD 1.1187 Key Pivot
The euro has retraced back under the 1.1200 level against the US dollar, following a lack of interest to take the pair above th current weekly trading high. EURUSD bulls need to continue to defend the 1.1187 level in order...
New Zealand and Australian Dollars in Steep Decline after Surprised RBNZ 50bps Rate Cut
New Zealand Dollar is clearly the worst performing one today as selloff intensifies after RBNZ’s surprised -50bps rate cut. Australian Dollar is also dragged down deeply while Canadian Dollar follows as third weakest so far. Asian markets ignore rebound in...
RBNZ Cut Policy Rate by -50 bps, Hinting Negative Interest Rate
RBNZ surprised the market by reducing the OCR, by -50 bps, to 1%. The market had only anticipated a -25 bps cut. The aggressive rate cut is “necessary” to help support employment and inflation in the country as downside risks...
AUD/JPY: Aussie Goes From Weakest To Strongest But Renewed Selling Likely
Thanks to today’s recovery in the stock markets, the rebound in Chinese yuan and inaction by the Reserve Bank of Australia overnight, the Aussie dollar has gone from being the weakest yesterday to the strongest major currency on the day...
Stocks making the biggest moves after hours: Disney, Hertz, Weight Watchers and more
CEO of the Walt Disney Company, Bob Iger. Michael Kovac | Getty Images Check out the companies making headlines after the bell: Shares of Walt Disney fell more than 4% in after-hours trading after the entertainment giant’s third-quarter earnings missed...
This will be Wall Street’s new obsession as the trade war intensifies
A Chinese bank staff member counting stacks of 100-yuan notes at a bank in Huaibei, China. AFP | Getty Images Following Monday’s market meltdown traders will take their cues from the Chinese central bank and where it sets the midpoint...
Stocks Recovery Could be Short-Lived
After yesterday’s bloodbath on Wall Street, index futures point to a rebound once trading gets underway shortly. European markets also staged a sharp recovery as sentiment improved. But it remains to be seen whether stocks will be able to push...
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