JPMorgan Chase pays $250 million penalty over weak controls in its wealth management division
Justin Sullivan | Getty Images JPMorgan Chase agreed Tuesday to pay a $250 million fine after one of its U.S. regulators found a “pattern of misconduct” in its asset and wealth management division. The Office of the Comptroller of the...
New Zealand Asks for Help, NZD Likes It: NZD/USD, NZD/JPY, EUR/NZD
Early in today’s Asian session, New Zealand’s Finance Minister Grant Robertson wrote to RBNZ Governor Orr and asked him to factor in house price stability when considering monetary policy. As a result of lower interest rates, housing prices in New...
Transition Time, Housing Shines, Confidence Misses, Dollar Drops, Oil Pops, Gold Plops, Bitcoin Eyes Record
Wall Street is increasingly betting on cyclicals now that the Trump administration has given the green light to the formal transition process to President-elect Biden. The General Services Administration (GSA) acknowledged President-elect Biden as the winner and will release the...
Euro Resilient Despite Deterioration Business Expectations, Dollar Mixed
Commodity currencies remain the strongest one for today with help from risk-on markets. Euro is also firm, shrugging off deterioration in business expectations as indicated by Ifo’s data. Though, selling is focusing on Swiss Franc and Sterling for now. Dollar...
GBP/USD Outlook: Bulls Pressure 1.34 Barrier And Eye 2020 High, Inflated By Rising Risk Appetite
Cable rises towards 1.34 barrier on Tuesday after strong upside rejection on Monday (1.3397 was new 11-week high), lifted by fresh risk appetite on signals that President Trump’s administration gave a green light for transition of duties to President-elect Biden....
Traders Watch Dollar Fall On Vaccine And US News
The US dollar continued falling during the Asian session as traders continued to focus on vaccine and US politics news. On the vaccine, several countries, including the United States, Germany, and the UK have announced plans to start vaccinations before...
NZD Surges on RBNZ Expectations, Dollar Rebound Short-Lived
Commodity currencies surge broadly today on the back of strong risk appetite, especially in Japan. New Zealand Dollar is additionally boosted after the government asked RBNZ to considering surging house prices in monetary policy moves. Dollar tried to rebound overnight,...
Market Morning Briefing: Euro Also Fluctuated Within 1.1906-1.18
STOCKS Trump’s administration beginning the power transition process and the news that Biden’s choice for the Treasury Secretary is Janet Yellen, former Fed Chair, is keeping the sentiment positive in the market. However, we retain our cautious stance as we...
‘No. 1’ thing preventing a dollar comeback is the virus surge, currency strategist says
It may take months for the dollar to stage a comeback. Brown Brothers Harriman’s Win Thin warns it will continue to weaken due to the surge in coronavirus cases. “What I’m focused on near-term is really the virus numbers and...