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Day: January 30, 2021

Hedge fund billionaire Steve Cohen leaves Twitter after family receives threats amid GameStop backlash

Steven A. Cohen Scott Eells | Bloomberg | Getty Images Steve Cohen, the founder of hedge fund Point72 and owner of the New York Mets, has deactivated his Twitter account after his family received threats this week amid the GameStop trading frenzy. “I’ve really enjoyed the back and forth with Mets fans on Twitter which …

Hedge fund billionaire Steve Cohen leaves Twitter after family receives threats amid GameStop backlashRead More

Markets Down after Roller-Coaster Rides, Dollar Upside Still Capped

January ended with an exceptionally volatility week. While GME occupied a lot of headlines, there were other important developments like vaccines, US stimulus, and central bank expectations. Sterling ended as the strongest one with traders paring bets on negative interest rate of BoE. The same went for New Zealand Dollar too, which ended as second …

Markets Down after Roller-Coaster Rides, Dollar Upside Still CappedRead More

Weekly Economic & Financial Commentary: Loss of Momentum Sets Up Weak Q1

U.S. Review Loss of Momentum Sets Up Weak Q1, but Recovery Pace Contingent on Vaccine Deployment Economic data came in largely as expected this week and suggest continued economic recovery. Real GDP growth advanced at a strong 4% annualized rate in the fourth quarter. The loss of momentum toward the end of the quarter, however, …

Weekly Economic & Financial Commentary: Loss of Momentum Sets Up Weak Q1Read More

The Weekly Bottom Line: Looking Back, Looking Forward

U.S. Highlights Data on U.S. fourth quarter GDP showed the economic recovery continuing, but at much slower pace (4% annualized) than the previous quarter (33.4%). The Federal Reserve held its policy rate unchanged, and committed to doing all it can to support the recovery. It warned economic momentum has weakened with the spread of the …

The Weekly Bottom Line: Looking Back, Looking ForwardRead More

Forward Guidance: January’s Employment Report to Show a Double-Dip from Added Restrictions

Escalating virus spread and containment measures likely caused labour markets to shed jobs for a second straight month in January. We expect Canadian headline employment to have fallen 40k. This would build on December’s 53k drop which was the first decline in top-line employment since last spring. We expect the hard-hit hospitality sector to soften …

Forward Guidance: January’s Employment Report to Show a Double-Dip from Added RestrictionsRead More

Week Ahead: BOE, RBA, Coronavirus and More “Short Squeezes”?

What a week!  It’s hard to look ahead when most are still trying to understand what happened to GME and other high-flying individual stock names last week.  Can it continue?  Although everyone was caught up in the “Robinhood” and “short-squeeze” news, it was the South African coronavirus variant that may have spooked the markets on …

Week Ahead: BOE, RBA, Coronavirus and More “Short Squeezes”?Read More