Yen Lower after BoJ Downgrades Inflation Forecasts, Sterling Pressing Near Term Resistance
Risk sentiments stabilized in Asia today despite the selloff in US overnight. But so far, momentum for rebound in stocks is very weak. Major indices are stuck in right range between gains and losses, in particular in China and Hong...
Is The Eurozone Economy Close To Recession?
Executive Summary The recent slowdown in Eurozone economic growth has sparked fears that the bloc may be approaching, or already in, a recession. Forecasting recessions is a notoriously difficult task, and even defining what marks a recession is not always...
S&P 500 Breaks Bearish Wedge, Traders Monitoring Earnings And Shutdown Shenanigans
US stock markets were closed yesterday in remembrance of Dr. Martin Luther King, and given the headwinds the world economy faces, perhaps policymakers could benefit from his overriding message of inclusion and cooperation. Many of the biggest risks facing the...
Viacom agrees to buy ad-supported streaming service Pluto TV for $340 million
Viacom has agreed to acquire streaming service Pluto TV for $340 million in cash, the latest piece of its strategy to build a streaming business as consumers cut the cord. Pluto TV is a free, ad-supported service that has given...
Macri, the economy and Dutch disease: Argentinian angst
Ever since I first met with members of Cristina Kirchner’s administration – the henchmen that populated the state banks and ministries – I’ve been privately supporting the forces of their opposition. That the ultimately successful opposition transpired to be a...
US cancels trade planning meeting with China, source says
The White House rejected a trade planning meeting with Chinese counterparts this week due to outstanding disagreements between the two sides over the enforcement of intellectual property rules. Officials from the U.S. trade representative’s office were set to meet with...
MARKET WRAP: Global Stocks React To Cloudy Outlook
Investors were not in the mood to take any risk Stocks The S&P 500 Index fell 0.9 percent as of 15:30 London time as investors react to IMF report The Stoxx Europe 600 Index dropped 0.5 percent, despite strong ZEW economic reading. The U.K.’s FTSE 100 Index failed...
WTI Oil Outlook: Deeper Pullback Not Ruled Out after Repeated Rejection at Daily Cloud Base
WTI oil holds in red on Tuesday and was down 2.4% since Asian opening, pressured by renewed pessimism over China’s economic growth slowdown and consequent lower fuel demand. The oil price moved lower after strong technical resistance (base of thick...
Japanese Yen Edges Higher, BoJ Rate Statement Next
USD/JPY has edged lower on Tuesday. In the North American session, the pair is trading at 109.43, down 0.23% on the day. On the release front, Existing Home Sales was unexpectedly weak, dropping to 4.99 million and missing the estimate...
Yen Strengthens With Markets in Mild Risk Aversion, Australian Dollar Tumbles
Mild risk aversion is the main theme in the financial markets today. Selloff started in Asia, in particular in China, and spread to European session. Japan 10-year JGB yield also turned negative again. In the currency markets, Australian Dollar leads...
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