Currency Pair of the Week: USD/TRY
The Coronavirus is raging throughout the United States. The US is now consistently reporting over 150,000 new daily cases. Lockdowns and restrictions are looming. There is also a new US President-elect who wants to raise taxes on the wealthy. Yet...
Oil Up On RCEP, Gold Stays Steady
RCEP signing lifts oil prices Oil prices fell on Friday, with Brent crude dipping 1.50%, and WTI falling 2.0% as the return of Libyan production and Covid-19 consumption fears across North America and Europe undermined prices. Most of those losses...
EUR/USD Outlook: Bulls Eye November’s High As Risk Sentiment On Vaccine Persists
The Euro extends recovery on Monday and hit one-week high, boosted by risk appetite on corona-virus vaccine and hopes for a free-trade agreement within the world’s largest trade bloc, formed by fifteen Asia-Pacific economies, that for now offsets negative impact...
PNC to buy U.S. operations of Spanish bank BBVA for $11.6 billion
An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania. Getty Images Spanish financial group BBVA has agreed to sell its U.S. business, BBVA USA Bancshares, to PNC Financial Services Group for $11.6...
Sentiments Supported by Solid Japan and China Data, Dollar and Yen Soft
Dollar, Yen and Swiss Franc are trading generally lower as the week starts with solid risk-on mode. In particular, Nikkei is up more than 2% after release on stronger than expected GDP data. A batch of solid Chinese data also...
Vaccine News Solidify Risk On Mode; But Yen Selling Lacks Conviction
News of coronavirus vaccine readiness was the biggest market mover last week, solidifying near term risk-on sentiments. Subsequent price actions in major global indices were clearly corrective looking, setting the stage for further rally. Swiss Franc and Yen ended as...
Weekly Economic and Financial Commentary: Vaccination Record
U.S. Review Vaccination Record The combination of the election outcome and a workable vaccine boosted financial markets and set the background music for this week’s short list of indicators. See Topic of the Week for our take on the economic...
The Weekly Bottom Line: Pandemic Prompts New Restrictions
U.S. Highlights Good news on the vaccine front cheered financial markets early in the week. However, as the week wore on and COVID-19 infections worsened, that optimism started to fray a bit. Many jurisdictions have increased restrictions as hospitals are...
Forward Guidance: COVID-19 Spread to Overshadow Economy’s Resilience
Data released next week will show that the economy entered the autumn on strong footing. Monday and Tuesday’s reports are expected to reinforce that the exceptionally quick and robust rebound in Canadian housing markets continued. Earlier reports flagged that activity...
Week Ahead: New Brexit Deadline and Daily Coronavirus Cases Continue to Set Records
For the most part, the US Presidential Elections are behind us and markets will turn their attention to the new November 19th Brexit “deadline” for negotiators to come up with a trade deal. Markets are hoping a deal will be...
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