Wall Street expects at least a half-point Fed rate cut in March
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, Jan. 29, 2020. Andrew Harrer | Bloomberg | Getty Images Wall Street is increasingly...
Elon Musk says Chinese economy will surpass US by 2 or 3 times: ‘The foundation of war is economics’
Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., speaks during an event at the SpaceX launch facility in Cameron County, Texas, U.S., on Saturday, Sept. 28, 2019. Bronte Wittpenn | Bloomberg | Getty Images...
Rial’s promotion underlines Santander’s LatAm shift
Santander’s Sergio Rial Rial has had a big impact on Santander since he joined as head of its Brazilian bank in 2015. He has led that unit’s transformation, with return on equity (ROE) increasing from 14% to 21%. Announcing Rial’s...
ISM PMIs Could Upset Dollar if Virus Impact Confirmed
The deterioration in the US preliminary IHS Markit PMI survey in February was partially attributed to the coronavirus outbreak and markets are now turning their attention to the more important ISM PMI indices for release on Tuesday (manufacturing) and Thursday (non-manufacturing) at...
Fed’s James Bullard says rate cuts possible only if coronavirus turns into pandemic
St. Louis Federal Reserve President James Bullard said Friday the coronavirus outbreak would have to reach levels of the ordinary flu before he would consider cutting interest rates. Markets are anticipating the Fed will cut rates four times this year...
No End in Sight For Global Coronavirus Outbreak and Stock Market Crash
There is no end in sight for the global stock market crash yet, not for the Wuhan coronavirus outbreak. South Korea (2337 cases, 14 deaths), Italy (605 cases, 17 deaths) and Iran (388 cases, 34 deaths) are the new epicenter...
Stock market live updates: Dow loses 3,200 points and counting on week, bond yields collapsing
Traders work on the floor of the New York stock Exchange (NYSE) on on February 24, 2020 in New York City. Stocks fell over 1000 points on Monday as global concerns grow about the economic impact of the Coronavirus. Spencer...
XAU/USD Trades Below 1,650.00
Yesterday, the XAU/USD exchange rate failed to surpass the 1,655.00 level. During Friday morning, the rate was testing the support formed by the monthly R1 and the 200-hour SMA at 1,628.78. If the given support holds, it is likely that...
USD/JPY Dropped Below 109.90
On Thursday, the USD/JPY currency pair dropped to the 109.00 level. During today’s morning, the pair was testing the support formed by the weekly S2 at 108.58. If the given level holds, it is likely that a reversal north could...
GBP/USD Declined To Weekly S1
Yesterday, the GBP/USD exchange rate tried to surpass the weekly S1 at 1.2858. During Friday morning, the rate tested the Fibo 38.20% at 1.2918. Note that the currency pair is pressured by the 55-, 100– and 200-hour moving averages un...