USDJPY Outlook: Safe-Haven Yen Benefits From Fresh Uncertainty On Trump News
The pair fell 0.5% on Friday morning after news that President Trump and his wife tested positive on Covid-19. Traders moved into safe-haven yen on rising uncertainty that sparked risk aversion in the market. Fresh weakness probed below important supports...
Risk-Off on First October Surprise, Trump Tested Positive for COVID
Markets suddenly turned into a risk-off mode on the first October surprise. US President Donald Trump and wife Melania had tested positive for coronavirus. Both were going to quarantine with Trump’s scheduled cleared of all travels. Yen surges broadly as...
RBA Preview: Preparing the Market for Rate Cut and QE Expansion
RBA will likely use the opportunity of the upcoming meeting to prepare the market for more monetary easing in November. The stimulus measures due later this week should include reduction in the cash rate, yield curve control (YCC) target and...
US Dollar Strengthens Ahead Of Nonfarm Payroll Data
The US dollar strengthened as traders reacted to mixed economic data from the United States. Data released yesterday showed that initial jobless claims dropped to 837k in the previous week. That was the lowest reading since March. Other data by...
Latest layoffs do not signal a collapsing labor market, top economist Michael Darda suggests
Layoffs in several of the nation’s biggest industries are making headlines this week. The list includes Disney eliminating 28,000 employees connected to the coronavirus theme park shutdowns, United Airlines and American Airlines collectively planning to put 32,000 workers on furlough, and insurer Allstate...
Banking: New decade, similar problems
How does the banking industry look as we enter a new decade? It’s worth taking a look back at the one that just finished before we do that. January 2010 was still the worst of times for banking. It’s easy...
USD/CAD Flat Despite Strong Canadian Data
The Canadian dollar’s mini-rally has taken a pause on Thursday. In the North American session, the pair is trading at 1.3306, down 0.11% on the day. After a quiet start to the week, USD/CAD dropped by o.50% on Wednesday, its...
Bancassurers are thriving again, but for how long?
It’s not meant to be like this. In the new digital world, banks are supposed to be financial supermarkets, developing internationally transportable distribution platforms with high-value third-party products. Even loans and deposits – certainly insurance and savings products – should...
Jobless claims edge lower to 837,000 as slow recovery continues
First-time claims for unemployment insurance totaled 837,000 last week, the Labor Department said Thursday as the jobs market continues its plodding recovery from the coronavirus pandemic. Economists surveyed by Dow Jones had been expecting 850,000. The weekly total represented a...
Dollar Decline Paused after Better than Expected Data
Dollar attempted to edge lower earlier today but the bears are still not too committed. Selling has indeed turned to Yen in early US session, after some better than expected US data. The stocks markets are also lacking a clear...
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