Visa launches crypto consulting services in push for mainstream adoption
The Visa logo seen displayed on a smartphone with a bitcoin logo in the background. Rafael Henrique | SOPA Images | LightRocket | Getty Images Visa is launching new consulting and advisory services to help its clients navigate the world...
WTI Oil Outlook: Oil Prices Extend Recovery on Fading Omicron Fears, Iran
WTI oil rallies for the second straight day and accelerates well above the psychological $70 level, in extension of Monday’s 4% advance. Receding fears about the Omicron variant on rising hopes that virus will not set the global economy back...
Nonfarm Productivity and Unit Labor Costs Surprise Markets!
Usually regulated to second tier data, the final look at Nonfarm Productivity and Until Labor Costs for Q3 came in worse than markets had expected. Nonfarm Productivity was -5.2% vs the -4.9% preliminary print. Note that this was the largest...
Labor productivity rate falls at the fastest pace since 1960
Labor productivity fell at the fastest rate in more than 60 years in the third quarter, according to a Labor Department report Tuesday. A measure of output versus energy, nonfarm business sector productivity declined 5.2% from the previous three-month period,...
Wells Fargo sees borrower defaults starting to rise from low levels reached during pandemic
Charles Scharf, chief executive officer of Wells Fargo & Co., listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 10, 2020. Andrew Harrer | Bloomberg | Getty Images Wells Fargo is seeing borrower defaults...
Risk-on Sentiment Coming Back, Aussie Extending Rebound
Risk-on sentiment is gather steam today with major European indexes trading broadly higher, while US futures point to higher open. WTI crude oil is also up another 2.5% and is back above 70 handle. In the currency markets, Australian Dollar...
Australian Dollar Rises after RBA Meet
The Australian dollar has extended its rally and is trading at 0.7100. AUD/USD has had an impressive week so far, up 1.44%. RBA optimistic but cautious The RBA policy meeting did not contain any surprises and could be summarized as...
Goldman CEO Solomon sees policy, not the pandemic, as the biggest risk ahead for markets
Congress and the Federal Reserve will have more impact on what happens to the economy and markets than the pandemic, Goldman Sachs CEO David Solomon said Tuesday. Both entities have implemented never-before-seen levels of policy help totaling about $10 trillion...
BOC Preview – Reiterating Rate Hike in First Half 2022 amidst Strong Economic Data
Following a hawkish move in October, we expect the BOC to keep the powder dry this week. Policymakers should acknowledge the strong GDP growth and job market data, while cautioning over the uncertainty of the Omicron variant. They are also...
RBA Stayed Put, Cautiously Optimistic Over Domestic Economy
The RBA left the cash rate unchanged at 0.1% and the asset purchase program at AUD 4B/week. Policymakers maintained a cautiously optimistic outlook over economic recovery despite Omicron uncertainty. Again, policymakers reiterated that the next meeting (February) would be the...