As Tidjane Thiam leaves, Credit Suisse has much to be grateful for
Credit Suisse’s Tidjane Thiam and Urs Rohner Yesterday evening the board of directors of Credit Suisse unanimously accepted the resignation of chief executive Tidjane Thiam. The official announcement does not make clear whether or not they were also unanimous in...
Strong NFP Lifts Stock But Not Dollar, Yen Weakens
Strong employment data from the US boosts market sentiments as DOW future is up over 400 pts at the time of writing. European indices are also extending gains. The greenback however, shrugs of the data and it’s trading as the...
Mortgage demand falls for the second straight week, signaling a potential slowdown in the housing recovery
The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates continue to drop. Mortgage applications to purchase a home fell for the second straight week, down 1% from the previous...
EURJPY Cautiously Positive Above SMAs
EURJPY appears somewhat optimistic despite the recent consolidation in price above the 200-period simple moving average (SMA). Positive signals include the price having moved above the SMAs and the Ichimoku cloud, while the Ichimoku lines stall their positive tone. Furthermore,...
Oil Prices Climb But Gold Unsteady
Oil surges on falling US crude inventories US official crude inventories unexpectedly fell by 7.2 million barrels overnight, much higher than the forecast 0.7-million-barrel drawdown expected. Combined with reports of oil moving out of floating storage, and strong manufacturing PMI...
Fed’s Bullard warns of financial crisis risks as virus cases spike, FT reports
James Bullard Olivia Michael | CNBC St. Louis Federal Reserve Bank President James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis, the Financial Times reported. “Without more granular...
Sterling Could Steal the Show From Dollar as Focus Turns to NFP
Dollar and Yen are both trading as the weakest ones for the week for now. FOMC minutes released overnight gave little support to the greenback, nor that ADP job number and ISM manufacturing. Focus is turning to non-farm payrolls report...
FOMC Minutes: Changes in Forward Guidance and Asset Purchases could Come in September
The FOMC minutes for the June meeting revealed that the members had rigorous discussion about forward guidance, asset purchases and yield curve caps/targets. We expect the framework review will be completed this month, allowing the Fed to announce changes in...
As the coronavirus pandemic persists, here’s one encouraging sign for Chinese exports
Employees make face masks on a production line at a glove factory, which has started producing face masks as overseas orders for masks at an all time high amid the coronavirus outbreak, on May 16, 2020 in Shenyang, Liaoning Province...
GM, Fiat Chrysler U.S. auto sales tank in second quarter as coronavirus saps demand
Cars sit in a dealership lot on the first day that dealerships are allowed to open to the public on May 20, 2020 in Linden, New Jersey. Spencer Platt | Getty Images U.S. vehicle sales in the second quarter for...
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