Coronavirus pandemic will likely end the strong profit growth in Singapore banks
After a strong run last year, the profitability of Singapore banks is expected to fall sharply in 2020. That’s due to the coronavirus pandemic, as well as a crash in oil prices that brought down some of the major energy...
Outlier Peru shows Covid-19’s carnage despite best efforts
There are many countries being roundly criticized for their response to the Covid-19 pandemic, and these bad actors are spread among continents and between emerging and developed markets. With so much noise when looking for correlations between the mass of...
RCFs: Maxing out your credit is always very expensive
Ask any corporate what the defining feature of the onset of the Covid-19 crisis was for their business and the answer will be the same: shock at the speed with which all business activity – and therefore cashflow – halted....
ECB to Send a Dovish Tone and Pledge to Take Further Actions if Needed. Rate Cut Appears Less Relevant than QE
We expect ECB to keep its powder dry at this week’s meeting, after launching several stimulus measures last month. The central bank should maintain a dovish tone, indicating disappointing economic data and pledging the take further actions if needed. As...
Eurozone GDP Set to Shrink, Pile Pressure on ECB as EU Dithers on Virus Aid
With Europe’s biggest economies shutting down in March as the coronavirus wreaked havoc across the continent, no one is expecting the Eurozone’s first quarter GDP estimate due on Thursday (09:00 GMT) to be anything but abysmal. But just as in...
USD/JPY Outlook: Fresh Bears Look for Confirmation on Close Below Broken Key Supports
The pair accelerated lower on Tuesday, being down around 0.6% since opening in Asia, as dollar weakened across the board on renewed risk sentiment over relaxing coronavirus restrictions. Fresh bears broke below double-bottom at 106.92 and also surged through thickening...
USD/TRY Outlook: Bulls Hover around 7.00 Barrier and Ready for Eventual Break Higher
The pair is trading near magnetic 7.00 barrier which so far resists attacks but maintains firm tone and shows signs that eventual break would occur soon. Shallow pullback after initial test of 7.00 level last week, signaled that bulls ignore...
Dollar Under Broad Based Pressure on USD/JPY Downside Breakout
Dollar’s broad based decline resumes today with the help from downside break out in USD/JPY. Risk sentiments are firm on reopening optimism, with generally rally in European indices. Swiss Franc is pressured as the third weakest, following Dollar and New...
Oil prices could go negative again for reasons beyond just storage
Martin Divisek | Bloomberg | Getty Images It’s not all about storage. Yes, the world is watching the available amount of oil storage to try to figure out when the ‘tank tops’ and there’s simply no more space to fill...
Fed Meeting: Taking A Breather
The Fed concludes its meeting at 18:00 GMT on Wednesday and having thrown everything including the kitchen sink to protect the US economy in the battle against the virus, no action is expected this time. As such, the market reaction...
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