A dollar crash is virtually inevitable, Asia expert Stephen Roach warns
The stronger dollar era may be on borrowed time. Stephen Roach, one of the world’s leading authorities on Asia, is worried a changing global landscape paired with a massive U.S. budget deficit will spark a dollar crash. “The U.S. economy...
The Fed says it is going to start buying individual corporate bonds
The Federal Reserve is expanding its foray into corporate credit to now buy individual corporate bonds, on top of the exchange-traded funds it already is purchasing, the central bank announced Monday. As part of a continuing effort to support market...
New deposit platforms show limits of negative rates
In June, Sweden’s Klarna, one of Europe’s biggest fintech companies, and UniCredit-owned HypoVereinsbank, both announced plans to distribute deposits through Berlin-based Raisin’s WeltSparen platform. Previously, in April, Deutsche Bank started distributing other banks’ deposits to its wealth management and branch...
Dollar Index: Can Last Week’s Rally Extend Toward 98.00?
Global markets are trading with a decidedly risk-off tone to start the week on fears of COVID-19 hotspots in Beijing, Brazil, and certain Southern US states, among other areas. While the battle against the global pandemic has alternated (and likely...
Currency Pair of the Week: EUR/GBP
The UK will release employment data this week which could affect the Pound. The Claimant Count Change for May is expected to be 400,000 vs 856,000 in April. Although the expectation is more than half the print for April, 400,000...
EURUSD – Close above 10DMA to Signal that Two-Day Pullback is Over
The Euro edged higher in early US session on Monday, after two-day fall was contained by key Fibo support at 1.1212 (38.2% of 1.0870/1.1422) on Friday and today’s action stays above correction low. Larger uptrend remains intact and current easing...
New York region manufacturers are the most optimistic since the Great Recession
Manufacturing activity snapped back to life in the New York area this month, and optimism for future activity hit its highest level in almost 11 years. The Empire State Manufacturing Survey posted a reading of -0.2 in June after hitting...
COVID-19 Hammers Canada’s Manufacturing Sales in April
The statements and statistics contained herein have been prepared by the Economics Department of RBC Financial Group based on information from sources considered to be reliable. We make no representation or warranty, express or implied, as to its accuracy or...
Risk Aversion Remains the Main Theme While Gold Reverses
Risk aversion remain a major theme today on concern over coronavirus second wave. DOW futures point to sharply lower open and the index could lose 25k handle. NASDAQ might also have another take on 9500 too. In the currency markets....
Dow futures plunge nearly 800 points as Wall Street looks set to extend last week’s sharp losses
The New York Stock Exchange (NYSE) stands in lower Manhattan on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City. Spencer Platt | Getty Images Stock...
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