Dollar Surges as FOMC Risks Cleared, on Asian Risk Aversion
Dollar surges broadly today partly because FOMC announcement and projections overnight removed the risk of extra dovishness. Also, Hong Kong led decline in Asian stocks is providing extra support to the greenback. Yen is following closely as the second strongest...
All-star investor Rich Bernstein: ‘We want to be somewhat optimistic’ and play offense
Institutional Investor Hall of Famer Richard Bernstein predicts more momentum in stocks closely tied to the economy. He expects more enthusiasm surrounding the state of the recovery will drive more investors away from richly valued mega cap growth names, which...
Fed leaves rates unchanged – Three experts on what that means
The Fed left rates unchanged in its last meeting before the 2020 presidential election in November. It also indicated rates were unlikely to rise until at least 2023. Three experts weigh in on what the Fed decision means. David Kelly,...
Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent
Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll. As of Aug, 31, 163,735 businesses have indicated on Yelp that they have closed....
Fed holds rates steady near zero and indicates it will stay there for years
The Federal Reserve kept its pledge to keep interest rates anchored near zero and promised to keep rates there until inflation rises consistently. As the central bank concluded its two-day policy meeting Wednesday, it said short-term rates would remain targeted...
EURCHF Retracts as Negative Sentiment Sustains Sideways Pattern
EURCHF has recently receded below the 50-day simple moving average (SMA), determined to test the base of a near two-month persisting range. Negative sentiment appears to be prevailing in the short-term oscillators as well, despite the bullish bearing of the...
Activist ValueAct played a key role in speeding up Citigroup CEO’s retirement, sources say
CEO Michael Corbat answers questions at Citi’s 2017 Investor Day. Source: Citigroup.com Three years ago, Michael Corbat strode onto the stage of a ballroom in midtown Manhattan and proclaimed that a new day had arrived at Citigroup. The bank had...
BoE Preview: Rising Risks More, Easing In November
When Thursday 17th September Growing risks – advertisement – The Bank of England are not expected to adjust monetary policy this month. With interest rates at historically low levels of 0.1% and £100,00 additional monetary stimulus added in June, this...
Yen Surges as Traders Look Forward to FOMC Projections
Yen rises broadly today as markets are awaiting Fed policy decision. The strength in Yen since last week seems to be related to inflation expectations. It first followed comments from an ECB official that the pandemic impact impact would eventually...
U.S. consumer spending appears to slow in August
U.S. consumer spending appeared to slow in August as extended unemployment benefits were cut for millions of Americans, offering more evidence that the economic recovery from the Covid-19 recession was faltering. Core retail sales, which correspond most closely with the...
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