Home sales dropped nearly 18% in April, while decline in inventory pushed prices to a record high
A For Sale sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images The economic fallout from the coronavirus hit the housing market hard in April. Sales of existing homes fell 17.8% month to...
Australia’s Spat With China May Spell Doom for its Economy and the Aussie
Sino-Australian relations sank to a new low this week after China unexpectedly slapped 80.5% tariffs on Australian barley imports, possibly signalling a new front in the global trade war. China buys about 30% of Australia’s exports and its decision comes...
UK 100 Index Retests Mid-Bollinger Band; Holds in Ascending Channel
The UK 100 index (Cash) looks to be mostly neutral in the very short-term after an ascent from the March 30 low of 5,294. The short-term oscillators reflect a stall in the positive momentum. The MACD is flattening in the...
More than half of small businesses are looking to have PPP funds forgiven, survey says
While government aid initiatives like the Paycheck Protection Program have helped small businesses, frustrations are mounting on Main Street due to a lack of guidance from the Small Business Administration on loan forgiveness and how to use the funds appropriately...
Pandemic hastens Brazil’s financial shift
Some Brazilian bankers have asked if large drawdowns would inflict psychological damage on retail equity investors. This is important, as the growth of retail had offset this year’s capital outflows from international investors. Local banks now dominate new deal bookrunning...
Jobless claims total 2.4 million, still elevated levels but a declining pace from previous weeks
First-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market. Economists surveyed by Dow Jones had been looking for 2.4 million claims. The seasonally adjusted...
Dollar Recovery Attempt Falters Quickly, Swiss Franc Dives Again
The financial markets are, generally speaking, a bit mixed today. European stocks are slightly in red while US futures are down. But losses are very limited. Bulls are still in overwhelming control. In the currency markets, Swiss Franc drops sharply...
US Futures Consolidating, Watch EXPE, MDT, TTWO, BBY, LB
The S&P 500 Futures are facing a consolidation after they rebounded over 1% yesterday on growing optimism toward a quicker-than-expected recovery of the global economy from the coronavirus pandemic. Later today, U.S. Initial Jobless Claims (a decline to 2.400 million...
BTCUSD Under Pressure
Bitcoin is starting to weaken as riskier asset classes are starting to come under downside pressure during the European trading session. The BTCUSD pair is at risk of further heavy trading losses towards the $9,000 level if the $9,300 support...
Iwoca urges CBILS banks to collaborate and requests central bank funding
Christoph Rieche, co-founder and chief executive of iwoca On May 20, the British Business Bank announced the accreditation of six new lenders to channel funding to small businesses under the UK government’s much-criticized Coronavirus Business Interruption Loan Scheme (CBILS). Bibby...
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