HSBC’s first-half profits miss expectations as bank sets aside more funds for loan losses
A pedestrian walks past illuminated signage for HSBC Holdings Plc displayed outside a bank branch in the Central district of Hong Kong, China. Anthony Kwan | Bloomberg | Getty Images HSBC on Monday reported a 65% year-over-year plunge in pre-tax profits for...
Trading Subdued in Cautious Mood, Dollar Still Finding Momentum for Rebound
Trading in forex markets is rather subdued today in overall mixed mood. Better than expected manufacturing data provides little lift to sentiments. Coronavirus curfew in Australia’s Victoria state is also shrugged off. Instead, traders are generally cautious ahead of a...
RBA to Caution about Economic Impacts of Renewed Lockdown, Relying on Fiscal Policy for Stimulus
RBA will most likely leave all of its monetary policy measures unchanged in August.The cash rate will stay on hold at 0.25%, the yield curve control program remains targeting 3-year government bonds at 0.25% and the Term Funding Facility will...
Asia Morning: U.S. Dollar Rebounds, Stocks Close Higher
On Friday, U.S. stocks closed higher. The Dow Jones Industrial Average rebounded 114 points (+0.44%) to 26428, the S&P 500 rose 24 points (+0.77%) to 3271, and the Nasdaq 100 jumped 190 points (+1.78%) to 10905. Nasdaq 100: Daily Chart...
India: End of an era as Aditya Puri sells down at HDFC
COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER: SContreras@Euromoney.com By: Published on: Thursday, July 30, 2020 The managing director retires in October. RBI has three names to contemplate as his possible successor. Aditya Puri has been one of...
Yen, Dollar, Aussie, Gold and Stocks in Focuses in a Busy Week
Dollar’s selloff extended last week, after rather uneventful Fed meeting. The decline was particularly serious against generally strong European majors. Sterling ended as the strongest one this time, followed by Euro and Swiss Franc. While the greenback was weak, New...
US-China rivalry hinders a struggling HSBC
HSBC has suffered an absolutely torrid few months. As it gears up to announce what are likely to be a rocky set of interim results at 5am London time (12 noon Hong Kong) on Monday August 3, it’s worth pausing...
Weekly Economic and Financial Commentary: The Second Wave Appears to Have Crested
U.S. Review While Risk Remains, The Worst Appears to Be Behind Us The resurgence in COVID-19 in much of the Sun Belt appears to have topped out, although cases are rising faster in some smaller mid-Atlantic states and in parts...
The Weekly Bottom Line: Historical Decline in GDP As Virus Struck in Q2
U.S. Highlights Real GDP fell by an historic 9.6% in the second quarter (32.9% annualized), led by declines in spending on services as the economy locked down in March and April. The fall was deep but short. Spending rebounded in...
Forward Guidance: Growth in Employment to Continue in July, at a Slower Pace
Canadian labour markets probably continued to look a little better in July. Though the 400k increase in employment we expect would still leave the job count down about 1.4 million compared to February levels, even after the 1.2 million jobs...
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