Without big Wall Street trading arms, regional banks lean on mortgages and fees to beat earnings
A man walks past the Wall Street Charging Bull in New York, the United States, March 24, 2020. Wang Ying | Xinhua News Agency | Getty Images Several banks reported surprisingly strong second-quarter results during the opening week of earnings...
Cliff Notes: US and China, Diametrically Opposed Risks
Key insights from the week that was. The key release for Australia this week was the July Westpac-MI consumer sentiment survey. Coming immediately after the start of the Melbourne lockdown, it represents the first clear read of its impact, both...
Week Ahead – Vaccine Enthusiasm vs Faltering Recovery
It’s a quiet week as far as scheduled events go, with the main highlight being the EU summit about the recovery fund, which exposes the euro to weekend risk. What will truly drive markets though, is the ongoing clash between...
Euro Surges as Traders Await EU Decision on Recovery Fund
Euro and Swiss Franc rise broadly today but upside is so far limited. Traders are still cautiously awaiting EU leaders’s decision on the EUR 750B recovery fund. On the other hand, Sterling suffers notable selling for today, thanks to selling...
U.S. home construction jumps 17.3% in June
Construction of U.S. homes jumped 17.3% in June as some states reopened, but the pace still lags last year after this spring’s massive slowdown in building activity due to the coronavirus outbreak. The Commerce Department reported Friday that new homes...
HKD/JPY 1H Chart: Falling Wedge Pattern In Sight
The HKD/JPY exchange rate has been declining within a falling wedge pattern since the beginning of July. From a theoretical perspective, it is likely that the currency pair could continue to trade downwards within the given pattern until the end...
ZAR/JPY 1H Chart: Rising Wedge Pattern In Sight
The ZAR/JPY currency pair has been trading within a rising wedge pattern since the end of June. From a theoretical point of view, it is likely that the exchange rate could continue to extend gains within the given pattern until...
Stocks making the biggest moves in the premarket: Netflix, BlackRock, Microsoft, Lyft & more
Take a look at some of the biggest movers in the premarket: Netflix (NFLX) – The video streaming service saw its bottom line fall 22 cents a share below Wall Street forecasts with quarterly profit of $1.59 per share. Revenue...
EUR/USD Outlook: The Euro Stands At The Front Foot Ahead Of Key EU Summit Decision
The Euro regained traction and probes again above former high at 1.1422 on Friday, following strong upside rejections and failures to close above 1.1422 barrier. The action in past two days left daily candles with long upper shadows that could...
EUR/USD Tests 100-Hour SMA
On Thursday, the EUR/USD currency pair declined to the support provided by the 100-hour SMA near 1.1380. During today’s morning, the pair was testing the given support. Given that the exchange rate is pressured by the 55-hour SMA and the...