Saudi Arabia considers three new banking licences
The Saudi Arabian Monetary Authority (SAMA) is processing applications for three new banking licences in the country, showing scope for more banks to open in Saudi despite ongoing consolidation in the sector, its deputy governor said on Thursday. Two are...
FX market bounces back on swaps, forwards growth
The 2019 Bank for International Settlements (BIS) triennial central bank survey certainly makes for better reading for the FX industry than its 2016 edition. Spot trade volumes are up 20% over the last three years, FX swap activity increased by...
Fintech start-up Stripe notches eye-popping $35 billion valuation after new funding round
Fintech company Stripe is climbing the ranks of the most valuable Silicon companies. Stripe, a San Francisco-based payments company that competes with Jack Dorsey’s Square, announced an additional $250 million funding round on Thursday, bringing its valuation to an eye-popping...
Leon Cooperman says the Fed made a mistake cutting rates: ‘You’re screwing the savers’
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is “screwing the savers” by cutting interest rates like they did for the second time this year in the prior session. “I side with the two Fed...
BOE Stays Put But Warns of the Market Volatility in Case of Further Brexit Delay
BOE voted 9-0 to leave the Bank rate unchanged at 0.75%. It also maintained the asset purchase program at 435B pound and corporate purchase at 10B pound. BOE also made detailed discussion on the problems stemmed from Brexit uncertainty. The...
Market Brief: So much for Central Bank Week
Stock market snapshot as of [19/9/2019 1:06 PM] Apart from the Fed, the monetary policy bonanza over the last several hours has been more about volume than action. And even at the Fed, the one central bank to adjust key...
US existing home sales rise to 17-month high in August
A “For Sale” sign is seen in front of a home on May 30, 2019 in Miami, Florida. Joe Raedle | Getty Images U.S. home sales unexpectedly rose to a 17-month high in August for a second straight month of...
EURGBP Does Not Look Ready for a Meaningful Rally Yet
EURGBP seems to have reached oversold levels near the 200-day simple moving average (SMA) as the RSI is showing some positive movement after flatlining near its 30 oversold levels. The MACD and the red Tenkan-sen are also looking ready to...
The CEO of Pimco, which manages $1.8 trillion, says the US economy will slow to just 1% growth
NEW YORK — The U.S. economy will have a tough time at the start of 2020, Pimco CEO Emmanuel Roman said Thursday. “We see the U.S. economy slowing down,” Roman said at the Delivering Alpha conference presented by CNBC and...
GBP/USD Outlook: Bulls Regained Control after Being Briefly Hit BoE’s Brexit Warning
Cable regained traction and retested 100DMA barrier, on bounce from session low at 1.2437, posted after BoE rate decision. Sterling keeps bullish bias despite warning tone from the central bank on persisting uncertainty and further Brexit delay which would hurt...