Shares of South Korea’s Kakao Bank jump nearly 80% on the first day of trading
A currency dealer monitors exchange rates in a trading room at KEB Hana Bank in Seoul on June 21, 2021. JUNG YEON-JE | AFP via Getty Images Shares of Kakao Bank shot up nearly 80% during its market debut in...
Dollar Extending Recovery ahead of Job Data, Aussie Lower on RBA
Dollar is trying to extend this week’s recovery in Asian session, as focus turns to non-farm payrolls reports. Whether Fed would start tapering asset purchases by the end of the year, or earlier, would very much depend on the job...
Wells Fargo postpones return-to-office plans by a month amid coronavirus surge
Wells Fargo signage on May 5th, 2021 in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Wells Fargo has pushed back plans for employees to return to corporate offices by a month in response to the...
Bank of England’s Subdued Signal of Future Tightening
Summary The Bank of England (BoE) held monetary policy steady at today’s announcement, but sent a subdued signal of future policy tightening in its accompanying statement. Specifically, the BoE said some modest tightening of monetary policy over the forecast period...
BOE Signals Earlier Unwinding of Balance Sheet. Modest Tightening On the Way
The BOE voted unanimously to keep Bank rate at 0.1%, and 7-1 to leave purchases of government bond at 875B pound. While the latter decision came less hawkish than we had anticipated (we expected 2 dissents), British pound got a...
Continuing jobless claims hit new pandemic-era low, falling below 3 million
Initial claims for unemployment insurance edged lower last week, meeting Wall Street expectations, while longer-term unemployment signs showed improvement, the Labor Department reported Thursday. First-time filings for benefits dipped to 385,000 for the week ended July 31, a decline of...
BOE Slightly More Hawkish than Expected; GBP/USD
Although the BOE didn’t change monetary policy today, they did hint how they will proceed moving forward in terms of removing QE. The Bank of England left rates unchanged at 0.1%, as expected, and voted 7-1 to leave the bond...
Sterling Lifted Slightly after BoE, But Overall Markets Tread Water
Sterling was lifted very briefly after BoE policy decision, but there was again no follow through buying. Dollar also pays little attention to jobless claims. Overall, the markets are staying in consolidative mode, and would probably stay so before tomorrow’s...
Steady ahead of Jobs Report
We appear to have entered into a holding pattern following a whirlwind session on Wednesday, as conflicting data and hawkish Fed commentary created some choppy conditions. You can sense the nervousness in the markets this week. Every data release feels...
WTI Futures Plunge But Broader Upside Risks Still In Force
WTI oil futures are trying to create a foothold at the Ichimoku cloud’s lower surface around 67.52. The aggressive loss of ground from the 74.00 mark’s vicinity over the past three days, may be somewhat attributed to rising concerns that...
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