US banking inches closer to ESG alignment
Aspiration’s chief executive and co-founder Andrei Cherny In March, JPMorgan Chase announced it would stop financing GEO Group and CoreCivic – the largest operators of private prisons and immigration detention centres in the US. The decision follows months of protests from...
Tim Sloan’s departure from Wells Fargo is a ‘big mistake,’ says management guru Jeff Sonnenfeld
Tim Sloan was a “great” CEO for Wells Fargo, and it’s “unfair” that he has to step down, management expert Jeffrey Sonnenfeld told CNBC on Thursday. The bank announced on Thursday the embattled CEO will retire in June. He became...
Barclays: Cometh the hour, exit the man
What do you do if you decide someone is superfluous to requirements, but you don’t want to make it all about him? Dress up his exit as a reorganization? Tim Throsby It’s certainly tempting to see a whiff of this...
US Core PCE Inflation to Reinforce Fed’s Patience
Fed chairman, Jerome Powell, said at his press conference following the March FOMC policy meeting that as long as inflation holds close to the target the central bank has room to remain “patient”. The core PCE price index delivered on...
Japanese Yen Lower Despite Soft U.S GDP
USD/JPY has recorded slight losses on Thursday. In the North American session, the pair is trading at 110.70, up 0.16% on the day. On the release front, In the U.S., Final GDP for the fourth quarter posted a 2.2% gain,...
USDJPY Recovery Threat Eyes The 111.15/29 Resistance Zone
USDJPY recovery threat eyes the 111.15/29 resistance zone. On the upside, resistance comes in at 111.00 level. Above this level will turn attention to the 111.50 level. Further out, we expect a possible move towards the 112.00 level. A cut...
Dollar Higher as Treasury Yields Attempting Rebound, Sterling Stays Weak on Brexit
Dollar rises broadly in early US session with help from rebound in treasury yields. 10-year yield is now trying to regain 2.4 handle. Poor Q4 GDP is ignored while traders could be hopeful on some progress in US-China trade talks...
USDCHF Rebounds on 0.99 Level; Neutral in Medium Term
USDCHF is advancing after it found a strong rebound on the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130 around the 0.9900 psychological level. Technically, the red Tenkan-sen line is pointing downwards, indicating a bearish retracement, however,...
US weekly jobless claims unexpectedly fall
The number of Americans filing applications for unemployment benefits unexpectedly fell last week, suggesting labor market conditions remained solid, despite slowing job growth. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 211,000 for the week ended...
Economic growth slowed in the fourth quarter, leaving GDP short of Trump’s goal
Economic growth in the U.S. slowed in the final part of 2018, with GDP posting a gain of just 2.2 percent in the fourth quarter, the Commerce Department reported Thursday. The final reading was in line with expectations of economists...