Citi steps up direct aid to buy ventilators in Kenya
“This pandemic will change a lot of things in terms of how people approach crises in the future,” Citi’s chief executive for Kenya and east Africa, Martin Mugambi, tells Euromoney. Already working with the central bank to offer loan extensions...
‘Frozen’ companies are not calling Berkshire Hathaway for rescue investments, Charlie Munger says
Speculation about what Berkshire Hathaway’s Warren Buffett is doing during the coronavirus crisis is a common topic among investors these days, with most expecting the “Oracle of Omaha” to make a classic value purchase during this tumultuous time or a rescue...
Weekly Focus – The Fragile Crawl Back Begins
After a long period of bad news on the coronavirus front, we have finally seen more positive developments lately. This is broadly in line with the view we put out in late March in Research COVID-19: Closer to the peak...
COVID Cure, US Exit, Oil, Gold, Libra
Finally Some Good News! In a week of negative economic headlines, it’s certainly encouraging to end on a more positive note and equity markets are surging this morning as a result. The double whammy of US lockdown exit plans and,...
Gold’s Safe-Haven Appeal Fades on Signals of US Economy Gradual Restart
Spot gold extended pullback from new multi-year high ($1747) on Friday to initial support at $1683, marked by rising 10DMA. Fresh bears were so far held here and the price edged higher on weaker dollar, but outlook remains negative and...
IRS sends coronavirus stimulus checks to dead people
The seal of the Internal Revenue Service (IRS) hangs on a podium during an IRS Criminal Investigation 100th year anniversary event at the agency’s headquarters in Washington, D.C., U.S., on Monday, July 1, 2019. Photographer: Andrew Harrer/Bloomberg via Getty Images...
New York Fed President Williams says the economy won’t be back to ‘full strength’ by end of 2020
New York Federal Reserve President John Williams told CNBC on Friday he sees some parts of the economy coming back online but doubts growth will return to normal this year. Construction should be among the first to return, he said...
GBPUSD Uptrend Runs Out of Steam above 61.8% Fibonacci
GBPUSD is struggling to recapture positive momentum after its rebound from the 35-year low of 1.1410 ran out of energy when it crossed above the 61.8% Fibonacci retracement of the March down move in the 4-hour timeframe. The RSI is...
Markets to End on a High Note? Yen and Oil Might Not Agree
Global markets are set to end the week on a high note. There is optimism that Gilead’s coronavirus drug remdesivir could be the cure for the coronavirus. Also, traders responded positively to US President Donald Trump’s three-stage reopening plan. Commodity...
GBP/USD Outlook: Cable Stands At The Back Foot But Bears Need Confirmation On Close Below 10DMA
Cable fell to new one-week low at 1.2406 on Friday after attempts above 1.25 barrier stalled at 1.2522. Firmer dollar which extends positive tone into third consecutive day, keep sterling at the back foot, after the UK government announced the...
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