Vaccine News Solidify Risk On Mode; But Yen Selling Lacks Conviction
News of coronavirus vaccine readiness was the biggest market mover last week, solidifying near term risk-on sentiments. Subsequent price actions in major global indices were clearly corrective looking, setting the stage for further rally. Swiss Franc and Yen ended as...
Weekly Economic and Financial Commentary: Vaccination Record
U.S. Review Vaccination Record The combination of the election outcome and a workable vaccine boosted financial markets and set the background music for this week’s short list of indicators. See Topic of the Week for our take on the economic...
The Weekly Bottom Line: Pandemic Prompts New Restrictions
U.S. Highlights Good news on the vaccine front cheered financial markets early in the week. However, as the week wore on and COVID-19 infections worsened, that optimism started to fray a bit. Many jurisdictions have increased restrictions as hospitals are...
Forward Guidance: COVID-19 Spread to Overshadow Economy’s Resilience
Data released next week will show that the economy entered the autumn on strong footing. Monday and Tuesday’s reports are expected to reinforce that the exceptionally quick and robust rebound in Canadian housing markets continued. Earlier reports flagged that activity...
Week Ahead: New Brexit Deadline and Daily Coronavirus Cases Continue to Set Records
For the most part, the US Presidential Elections are behind us and markets will turn their attention to the new November 19th Brexit “deadline” for negotiators to come up with a trade deal. Markets are hoping a deal will be...
Week Ahead – Focus Stays on COVID
Virus rages on, a wrath of Fed speak, US retail sales slower pace Next week is filled with lots of Fed speak, an expected sixth consecutive increase with US retail sales, and possible COVID-1 vaccine results from Moderna. Financial markets...
Ex-Wells Fargo CEO John Stumpf misled investors in fake accounts scandal, SEC says
John Stumpf, chief executive officer of Wells Fargo & Co., waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 29, 2016. Andrew Harrer | Bloomberg | Getty Images Ex-Wells Fargo CEO John Stumpf...
S&P 500 rises more than 1% to a record close to cap off strong week as big value rotation continues
U.S. stocks rose on Friday as investors bet again on stocks that would benefit from a potentially effective vaccine and economic recovery next year. The S&P 500 advanced 1.4% to 3,585.15, and posted a record closing high. The Dow Jones...
Unemployment claims are falling. But that’s not necessarily because people found work
Volunteers distribute food to the needy in Orlando, Fla. Paul Hennessy/NurPhoto via Getty Images Continuing claims Continuing claims for unemployment benefits are the best available proxy for the total number of people receiving jobless aid. Claims have fallen by more...
Dr. Copper Giving Clues about USD/CNH?
The price of cooper is said to be a sign of economic growth and weakness. Hence, it is nicknamed Dr. Copper because when the economy is weak, one just needs to look to “the Doctor” to see if it is...
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