The U.S. Non-Manufacturing Sector’s Activity in Deep Freeze in April
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
This wartime law gives Trump exceptional power over US economy
President Donald Trump has called the coronavirus pandemic a war against an invisible enemy. And to fight it the government is drawing on the Defense Production Act, which has given presidents extraordinary powers during times of war. As of late...
GER 30 Cash Index Retains Upside Trend; SMAs Act as Strong Resistance
The GER 30 index (Cash) has been making higher highs and higher lows since the mid of March when it touched the new trough of 7,950, pausing the previous downtrend in the short-term. The technical indicators continue to send weak positive signals, suggesting...
Euro Tumbles as German Court Judges ECB Bond Buying Partially Contravenes the Law
Euro tumbles broadly today, together with the Swiss Franc, after Germany’s constitutional court has ruled that ECB’s stimulus program is partly in conflict with the country’s law. ECB has to prove that it’s QE program isn’t providing monetary financing to...
One of Main Street’s biggest fears in economic reopening — new regulations
For several weeks from March into April, new regulations to mitigate the threat from the novel coronavirus sprang up almost every day: first social distancing recommendations, then stay-at-home orders, then restaurant bans, gym closures and nonessential business shutdowns. Now, as...
Test, trace, isolate: Governments need to do these three things before reopening economies, expert warns
Governments need to implement three things to break Covid-19’s “chains of transmission” before reopening their economies, a global health expert and physician told CNBC. Peter Drobac, director of the Skoll Centre for Social Entrepreneurship at Oxford University, warned on Tuesday...
Russia’s Sovcombank eyes post-Covid acquisition opportunities
The Covid-19 crisis will accelerate consolidation in the Russian banking sector by creating M&A opportunities, the co-founder of the country’s third-largest privately owned lender tells Euromoney. Sergey Khotimskiy, who set up Sovcombank in 2001 with his brother Dmitry, says the...
German Court Decision On ECB QE Program Stresses The Need For Proportionality
Notes/Observations Optimism that major economies were taking steps to reopen; reflected in higher oil prices German Court ruled that some ECB action is unconstitutional and Decisions not backed by EU treaty within Germany. Gave Bundesbank 3months to fix it and...
Italian banking system goes on blockchain to cut operational risk
At the end of April, 32 banks in Italy went into full production with one of the first large-scale deployments of blockchain in interbank markets. While JPMorgan was far ahead of the pack in October 2018, when it launched the...
USDJPY Bears Have The Edge
The US dollar remains under pressure against the Japanese yen currency in early Tuesday trade as short-term sellers remain in control of the pair. Should we see price contained below the 107.00 level USDJPY sellers could easily target the 105.50...
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