Week Ahead: US Thanksgiving and Another Brexit Deadline
Traditionally, Thanksgiving week in the US tends to be more on the quiet side. With the holiday on Thursday and a half day on Friday, many people take some or all of the week off. However, as we have seen...
Canadian Retail Sales Impressive, but It Doesn’t Matter: USD/CAD, WTI
Canada Retails Sales released earlier were the economic highlight of the day for the North American trading session, and the data was impressive! Retail Sales rose 1.1% vs an expectation of 0.2% and a previous number of 0.5%! Ex-Autos, the...
Week Ahead – Let the Battles Commence
Focus back on fiscal response It appears we’re moving seemlessly from one major risk to another at the moment in the markets. The election is still technically live, Covid is spreading like wild fire and battles are commencing in Washington...
Stocks making the biggest moves midday: Zoom, Nikola, FireEye, Intuit & more
Check out the companies making headlines in midday trading. Zoom Video — Shares of the video-conferencing company jumped 6.1% amid a rise in Covid-19 cases. Zoom has been one of the key “stay-at-home” trades, and shares are up 550% this...
JPMorgan becomes first major bank to say first-quarter GDP will decline because of Covid surge
Volunteers from women’s organization Nuevo Amanecer Mujer Integral help with the distribution of frozen turkeys and food boxes ahead of Thanksgiving to families affected by the Covid-19 pandemic on November 18, 2020 in Los Angeles, California. Frederic J. Brown |...
Yen’s Path Versus Dollar Defies Recovery Trend, May Cause Headache for Policymakers
The Japanese yen has been on a steady downtrend against most of its major peers since March when it exploded higher during the virus-induced financial turmoil. Although only the euro and the Australian dollar have managed to erase their year-to-date...
Big banks take baby steps toward commercializing blockchain
LONDON — A few years back, blockchain was the talk of the financial services industry. Several large banks were testing the technology, lured by the promise of improving some of the sector’s oldest processes. This year, investors could be forgiven...
Evans says Fed programs are important backstop, disappointed by Treasury’s move to stop some funding
Chicago Federal Reserve President Charles Evans expressed disappointment Friday in the Treasury Department’s decision to end several lending programs implemented during the coronavirus pandemic. Speaking a day after Treasury Secretary Steven Mnuchin said the programs would not continue past their...
Strong Retail Sales Data from Canada and UK Ignored
Dollar would probably end as the worst performing for the week, followed by Yen and Swiss Franc. But they’re generally staying familiar range, like other major pairs and crosses. Investors are struggling to decide on a direction, despite the news...
WTI Oil Outlook: Oil Price Maintains Bullish Bias But Negative Impact From New Wave Of Virus Limits Gains
WTI oil price jumps above $42 on Friday, focusing November’s peak at $43.03. Overall sentiment remains positive as the contract is on track for the third consecutive weekly gain, although the upside attempts remain limited on oversupply, demand concerns over...
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