Sterling Firm as Markets Await BoE, Asian Stocks Up
Asian markets open the week generally higher today, shrugging off the steep selloff in the US on Friday. Australian and New Zealand Dollar firm up mildly. But Sterling is so far the better one, as markets await BoE’s affirmation on...
New chart shows China could overtake the U.S. as the world’s largest economy earlier than expected
Workers stand at the port of Qingdao, Shandong province, China June 10, 2019. Reuters BEIJING — China is set to overtake the United States as the world’s largest economy a few years earlier than anticipated due to the coronavirus pandemic,...
Melvin Capital, which bet against GameStop, lost more than 50% in January, report says
A GameStop Corp. store in Rome, Italy, on Thursday, Jan. 28, 2021. Alesia Pierdomenico | Bloomberg | Getty Images Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop and other stocks the fund was...
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...
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...
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...
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...
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...
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”...
Traders Still Pushing Silver Higher. Could it Really Be the Next GME?
XAG/USD continues to push higher. After yesterday’s move, in which the Silver ETF (SLV) was suspected of being the next target of a short squeeze, the move continues…and it is dragging Gold along for the ride. Precious metals are typically...
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