Pelosi says more aid directly to Americans is needed to support economic recovery
House Speaker Nancy Pelosi told CNBC on Wednesday that additional financial aid to Americans is needed to support the U.S. economy’s recovery from the coronavirus-induced recession. “You can help people stay open, pay the rent, pay the utilities … even...
Former Wirecard CEO rearrested in Munich as prosecutors suspect $3.7 billion fraud
Markus Braun, chief executive officer of Wirecard AG, arrives for the company’s annual news conference in the Aschheim district of Munich, Germany, on Tuesday, April 25, 2019. Michaela Handrek-Rehle | Bloomberg via Getty Images The former CEO of collapsed German...
Existing home sales surge nearly 21% in June – the highest monthly gain on record
Sales of existing homes jumped nearly 21% in June compared with May, according to the National Association of Realtors. It was the largest monthly gain since the Realtors began tracking the data in 1968 and came after sharp declines over...
Former Fed Vice Chair Blinder says cutting government aid during the coronavirus pandemic would be a ‘catastrophic mistake’
Alan Blinder, former Federal Reserve vice chairman. Brendan Smialowski | Getty Images Former Federal Reserve Vice Chairman Alan Blinder said Wednesday it is imperative that Congress continues to aid ailing Americans who were laid off during the Covid-19 pandemic. “Cutting...
EUR/USD Hits 21-mth High on Summit Success
The euro continues to make inroads against the US dollar. EUR/USD gained 1.1% last week and has added another 1.4% so far this week. Earlier on Wednesday, the euro tested the 1.16 level for the first time since October 2018....
EUR/USD Outlook: Bulls Could Extend Towards Key Fibo Barrier at 1.1822 on Clear Break of 1.1600 Zone
The Euro cracked important barriers at 1.1595/1.1600 (50% of 1.2555/1.0635 / round-figure) on Wednesday, as bulls accelerated and extend into fourth straight day. Rally is currently taking a breather and consolidating on overbought hourly / 4hr studies before final break...
Yen Selloff Accelerates Even Though Risk Sentiments Turned Mixed
Risk markets turned mixed today as investors appear to be turning from optimism to cautiousness. Hong Kong stock suffered steep losses on escalating US-China tension. The selloff somewhat carries forward to European markets. Yet, US markets open with slight gains....
Banks back further state intervention in trade finance market
Financial institutions have backed the International Chamber of Commerce’s call for governments to scale up their support for trade finance to meet post-coronavirus demand.
US-China Tensions Resurface Putting A Wrench To Recent Risk-On Sentiment
Notes/Observations Geopolitical Tensions simmer after China stated the US ordered it to close its consulate in Houston citing issues over intellectual property Asia: Japan July Preliminary PMI Manufacturing 42.6 v 40.1 prior (15th straight contraction) Australia Jun Preliminary Retail Sales...
US-China Tensions Resurface Putting A Wrench To Recent Risk-On Sentiment
Notes/Observations Geopolitical Tensions simmer after China stated the US ordered it to close its consulate in Houston citing issues over intellectual property Asia: Japan July Preliminary PMI Manufacturing 42.6 v 40.1 prior (15th straight contraction) Australia Jun Preliminary Retail Sales...
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