Typical person yanked $12,000 from 401(k) during coronavirus pandemic: Vanguard
Jamie Grill | Blend Images | Getty Images Retirement savers appear to be taking advantage of relaxed rules around 401(k) withdrawals during the coronavirus pandemic. The typical 401(k) investor pulled $12,000 from their account in the form of a “coronavirus-related...
Investors Full of Optimism
Investors full of optimism A more muted session on Wednesday, which is likely to continue as the US and others observe Veterans Day and markets settle after a vaccine boost in recent days. The vaccine news feels like a real...
USD/TRY Outlook: Lira Rxtends Recovery On Hopes Of CBRT Rate Hike
The Turkish lira remains at the front foot against US dollar, following recent gains on risk appetite, sparked by fresh Covid-19 vaccine hopes and replacement of CBRT governor and Financial Minister. The USDTRY pair eased nearly 5% on pullback from...
XAU/USD Consolidates Near 1,880.00
Since Tuesday, the XAU/USD exchange rate has been trading sideways in the 1,880.00 area. Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,890.00/1,914.00 range, it is likely that some downside potential could...
Fed’s Rosengren says next 6 months will be ‘pretty choppy’ despite vaccine news
LONDON — The next six months will remain turbulent as the global economy keeps grappling with the effects of the coronavirus pandemic, Eric Rosengren, president of the Federal Reserve Bank of Boston, told CNBC. Pfizer and BioNTech said on Monday...
Covid vaccine won’t be an ‘instant stimulus’ to the U.S. economy, warns economist
A Covid-19 vaccine will not result in an “instant stimulus” to the U.S. economy, which still needs greater fiscal support as its recovery loses momentum, an economist said on Wednesday. Markets globally rallied after Pfizer and BioNTech announced on...
New Zealand Dollar Rises after RBNZ, US Yield Resilient
New Zealand Dollar surges broadly today as markets see that RBNZ has less need to cut into negative next year. Kiwi’s strength is somewhat taking Aussie higher too. On the other hand, Sterling is paring some of yesterday’s strong gain...
Chance of Negative OCR Reduces as RBNZ More Confident About Economic Outlook
RBNZ announced that a Funding for Lending Program (FLP) will be implemented in “early December” with an initial size of about NZD 28B. Further details will be announced in coming weeks. The program aims at providing loans to commercial banks...
Market Morning Briefing: Aussie Has Broken Above 0.73
STOCKS Equities retain their strength. Though there is room to move up further crucial resistances will be coming up which can halt the rally and trigger a reversal. So as mentioned yesterday, we would be turning cautious as the equities...
Asia Morning: Dow Charges Higher, Tech Stocks Lag Behind
On Tuesday, U.S. stocks closed mixed. The Dow Jones Industrial Average advanced a further 262 points (+0.90%) to 29420, while the S&P 500 eased 5 points (-0.14%) to 3545, and the Nasdaq 100 shed another 206 points (-1.74%) to 11624....