Ant Group gets final approvals for its massive dual IPO and reveals share structure
GUANGZHOU, China — Ant Group has cleared the final regulatory hurdle for its massive initial public offering (IPO) with the pricing of its shares slated to be released within the next week. On Wednesday, the China Securities Regulatory Commission gave...
A Fed official who could be Biden’s Treasury secretary says Congress needs to pass stimulus to save the recovery
Federal Reserve Governor Lael Brainard issued a call Wednesday for more fiscal support from Congress, saying more stimulus is needed to address a recovery that has left out large parts of the economy. “The recovery remains highly uncertain and highly...
GBP/USD Soars as CPI Rises
GBP/USD has posted sharp gains in the Wednesday session. In the European session, the pair is trading at 1.3165, up 1.6% on the day. Barring a significant correction during the North American session, the pound is poised for its strongest...
GBP Likes Brexit News: GBP/USD, EUR/GBP
In a duel over Brexit negotiations where something had to give, traders seem to think it has! Earlier, comments from EU negotiator Barnier that a deal is “within reach” if both sides “compromise” seem to be exciting GBP traders. After...
Fed’s Brainard calls for more stimulus from Congress amid ‘highly uneven’ recovery
Federal Reserve Governor Lael Brainard issued a call Wednesday for more fiscal support from Congress, saying more stimulus is needed to address a recovery that has left out large parts of the economy. “The recovery remains highly uncertain and highly...
PayPal gets into crypto with new features for trading and shopping
The PayPal application on an Apple iPhone. Andrew Harrer | Bloomberg | Getty Images LONDON — PayPal on Wednesday announced a new feature that will allow users to buy, hold and sell cryptocurrencies, becoming the latest large financial services provider...
Mortgage demand from homebuyers falls for the fourth straight week
Homebuyer demand is incredibly strong compared with last year, but there appears to be a slight pullback this month. A drop in buyer demand caused total mortgage application volume to fall 0.6% last week compared with the previous week, according...
Dollar and US Treasuries Dive Together, Funds Moving Out?
Dollar tumbles sharply today together with US treasuries. 10-year yield breaks above 0.8% handle but that’s giving no support to the greenback. Instead, in a rather unusual development, Yen surges sharply at the same time. Stock futures are just steady....
AUD/USD Set For Breakout
The Australian Dollar edged higher by 48 basis points or 0.68% against the US Dollar on Tuesday. The currency pair tested the 100– hour SMA resistance level at 0.7076 on Wednesday morning. Currently, the exchange rate trading near the upper...
The GDP report next week will likely show record-breaking economic growth, but it may not help Trump
U.S. President Donald Trump gestures as he attends a campaign rally at Prescott Regional Airport, in Arizona, October 19, 2020. Carlos Barria | Reuters Next week, the U.S. will get economic news like it has never seen before, reflecting growth...
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