Dollar Trying to Recovery as Asia Turned Risk-Off, ECB Awaited
Dollar is trying to recover today as Asian markets turned into risk-off. Better than expected Q2 GDP data from China is largely ignored. Instead, Chinese stock lead Asia lower on concern of escalating geopolitical tension in South China Sea. Sterling...
BOC Pledges to Continue with Easing Until Inflation Returned to +2% Sustainably.
As widely anticipated, BOC maintained both the policy rate and all the asset purchases programs unchanged at the July meeting. While acknowledged positive economic developments since the last meeting, policymakers cautioned that the economy’s recuperation will be slow and pledged...
UK digital bank Monzo relaunches premium accounts after original service flopped
Users of Monzo’s premium account, Monzo Plus, will get sent blue cards with holographic foil to make Monzo British financial technology start-up Monzo is giving paid-for checking accounts another go, with a revamped premium service it hopes will help generate...
June retail sales should be strong from a pickup in spending before new virus outbreak slowed activity
A shopper walks with bags of purchases in New York. John Lamparski | SOPA Images | Getty Images Retail sales in June are expected to have gained 5.2% as the economy reopened, but sales could have trailed off towards the...
Dimon calls time on trading – and higher loan provisions
JPMorgan and Citigroup are the two biggest fixed income dealers and their second-quarter results on Tuesday confirmed another surge in debt trading revenues. JPMorgan generated $7.3 billion of fixed income trading revenue for a 99% increase over the same quarter...
Stocks making the biggest moves midday: Moderna, Royal Caribbean Cruises, Gap, PVH & more
A view of Moderna headquarters on May 08, 2020 in Cambridge, Massachusetts. Moderna was given FDA approval to continue to phase 2 of Coronavirus (COVID-19) vaccine trials with 600 participants. Maddie Meyer | Getty Images Check out the companies making...
China Could Return to Growth in Q2 amid Geopolitical Bullying Woes
China releases GDP readings for the second quarter on Thursday at 02:00 GMT along with industrial production for June, retail sales and fixed investment data. All figures are forecast to strengthen, indicating that the world’s second largest economy is recovering...
WTI OIL Outlook: Oil Dips after OPEC Signaled Easing in Production Curb; EIA Crude Stocks
WTI oil price fell nearly $1 but remains above $40 level after OPEC+ announced that the group of top oil producers will ease record supply cut from August, as global economy recovers. The group is set to reduce output cut...
Coronavirus Vaccine Hopes Prompt Full Risk-On, Dollar and Swiss Franc Dive
Markets are in strong risk-on mode again on coronavirus vaccine hopes. Moderna group said earlier that the vaccine candidate produced a robust immune system response in a large group of people. Next will be a decisive clinical trial in July....
A Booster From Moderna
Stock markets have been given another lift this morning by another promising vaccine trial, this time from Moderna, as the race to be the first to market intensifies. It goes without saying that a vaccine will be the gamechanger in...
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