USD/JPY Outlook: Bears Extend To The Lowest Since Mid-March, Pressure Key Fibo Support
The pair is down 0.7% since opening on Monday and extending steep fall into third day, driven by fresh strong safe-haven demand and further fall of the dollar. Fresh weakness pressures key Fibo support at 105.20 (61.8% of 101.18/111.71 March...
FOMC Preview – Preparing for Changes in Monetary Policy
The upcoming FOMC meeting aims at preparing the market for changes in the monetary policy in September. At the meeting this week, the Fed will keep its policy measures unchanged at this week’s meeting, i.e., the Fed funds rate will...
Gold Shines At A New Record High After 9 Years
Gold stretched its unstoppable rally to uncharted territory on Monday and to a new top of 1,944 after easily surpassing the 2011 record high of 1,920. A downside correction or some consolidation would not be a big surprise in the...
Stock futures rise ahead of big week of earnings, coronavirus stimulus in focus; gold soars to new record
A man wearing a mask walks by the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images U.S. stock futures rose early Monday morning as investors...
Dollar Tumbles Further as Gold Hits Record, Coronavirus Weighs on Sentiments
Gold’s up trend accelerates further and finally makes new record high today. That comes in a time when there are increasing evidence of second wave of coronavirus infections globally. Also, US-China relations deteriorate to a new low for decades. Dollar...
Asia Morning: U.S. Dollar, Stocks Weaken Further
On Friday, U.S. stocks sank further following the sell-off Thursday. The Dow Jones Industrial Average slid 182 points (-0.68%) to 26469, the S&P 500 fell 20 points (-0.62%) to 3215, and the Nasdaq 100 lost 97 points (-0.92%) to 10483....
HSBC Mexico’s Arce sees pandemic push for digital banking
HSBC Mexico’s chief executive, Jorge Arce, says the coronavirus pandemic has greatly accelerated adoption of its digital banking services – with clients overcoming cultural resistance to move online and take advantage of the bank’s recent investment in technology. “We have seen a...
Equity Bank turns to vertical strategy after collapse of Atlas Mara acquisition
Equity Bank’s plans for regional expansion suffered a setback when its deal to acquire four subsidiaries of Atlas Mara collapsed in June. It began talks to acquire Atlas Mara’s subsidiaries in Rwanda, Zambia, Mozambique and Tanzania in April 2018, but...
Euro Started Medium Term Up Trend With Break of Key Resistance Against Dollar
Euro ended as the strongest one last week as boosted by the agreement on the Next Generation EU recovery fund. It’s seen as a landmark deal which would increase cohesion of the EU. The burden on ECB would also be...
Weekly Economic and Financial Commentary: Jobless Claims Rise, Housing Market Rebounding
U.S. Review Jobless Claims Rise, Housing Market Rebounding Initial jobless claims rose to just over 1.4 million for the week ending July 18. Continuing claims fell to about 16.2 million. Initial claims edging higher suggests that the resurgence of COVID-19...
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