PayPal gets into crypto with new features for trading and shopping
The PayPal application on an Apple iPhone. Andrew Harrer | Bloomberg | Getty Images LONDON — PayPal on Wednesday announced a new feature that will allow users to buy, hold and sell cryptocurrencies, becoming the latest large financial services provider...
Mortgage demand from homebuyers falls for the fourth straight week
Homebuyer demand is incredibly strong compared with last year, but there appears to be a slight pullback this month. A drop in buyer demand caused total mortgage application volume to fall 0.6% last week compared with the previous week, according...
Dollar and US Treasuries Dive Together, Funds Moving Out?
Dollar tumbles sharply today together with US treasuries. 10-year yield breaks above 0.8% handle but that’s giving no support to the greenback. Instead, in a rather unusual development, Yen surges sharply at the same time. Stock futures are just steady....
AUD/USD Set For Breakout
The Australian Dollar edged higher by 48 basis points or 0.68% against the US Dollar on Tuesday. The currency pair tested the 100– hour SMA resistance level at 0.7076 on Wednesday morning. Currently, the exchange rate trading near the upper...
The GDP report next week will likely show record-breaking economic growth, but it may not help Trump
U.S. President Donald Trump gestures as he attends a campaign rally at Prescott Regional Airport, in Arizona, October 19, 2020. Carlos Barria | Reuters Next week, the U.S. will get economic news like it has never seen before, reflecting growth...
Oil Rebounds, Gold Edges Higher
Oil also recovers on stimulus hopes Oil prices recovered overnight, boosted by OPEC+’s JMMC holding its nerve on production cuts, and rising expectations that a US stimulus deal will occur. The sentiment was boosted by Nancy Pelosi’s pre-election deadline passing,...
A ‘blue wave’ in U.S. elections could bring forward Fed rate hikes, says Morgan Stanley
A Democratic sweep in the coming U.S. elections will likely unleash more fiscal stimulus, but it could also cause the Federal Reserve to hike interest rates earlier than expected, said a Morgan Stanley portfolio manager. The first rate hike by...
Dollar Pressured on US Stimulus Hope Again, Euro Stays Strong
Dollar is under some selling pressure since overnight as US politicians were still optimistic in closing a fresh stimulus deal by election. This appears to be the most volatility triggering theme for the near term for now. Commodity currencies are...
Stock futures rise as stimulus talks continue, Netflix shares fall after earnings miss
U.S. stock index futures rose in overnight trading on Tuesday after White House Chief of Staff Mark Meadows said that House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have made “good progress” on stimulus talks, before adding that they...
Aussie Pairs Nearing Key Support: AUD/CAD, AUD/JPY, AUD/USD
The Reserve Bank of Australia’s (RBA) Kent spoke last evening and hinted that the central bank is considering further easing in monetary policy. This comes after the RBA recently said that they are considering buying longer term bonds to help...
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