Dollar Rebound Lacks Conviction Yet, Aussie Shrugs Job Data
Dollar stays broadly firm in Asian sessions after the recovery overnight. There were signs of bottoming in the greenback but the rally remains unconvincing with no follow through buying yet. Australian and New Zealand Dollars are currently the weaker ones....
BOC Extends QE to Provincial and Corporate Bonds, while Leaving Rate at Lower Bound
After three cuts, 150 bps in total, in March, BOC left the policy rate unchanged at 0.25% at the April meeting. With the policy rate standing at the lower effective bound, the central bank added further monetary easing by extending...
The Fed’s Main Street problem: Worries rise that money won’t go where it’s most needed
Federal Reserve Chairman Jerome Powell holds a press conference following a two day Federal Open Market Committee policy meeting in Washington, January 30, 2019. Leah Millis | Reuters It wasn’t supposed to work like this: The Federal Reserve was not...
Looking for upside during an ugly earnings season? Here’s where Crossmark’s Victoria Fernandez would go
Earnings season may look ugly, but Crossmark’s Global Investments’ Victoria Fernandez isn’t getting discouraged. She believes there are opportunities in the coronavirus battered market. “We’ve seen some already. If you look at some of the health care names — UnitedHealth...
Small business loans top $296 billion and could reach the program’s limit by the end of Wednesday
Much-needed small business aid is beginning to trickle out and more is expected in the weeks to come as banks start to disburse the rescue funds to Main Street. But the first-come, first-serve Payroll Protection Program of $349 billion in...
The economic data is even worse than Wall Street feared: ‘The economy is clearly in ruins here’
A sign reading “Buy Local” with closed restaurants and shops on Main Street on April 10, 2020 in Livingston, Montana. William Campbell | Corbis via Getty Images The economic reports showed the double whammy of state shutdowns in mid-March on...
Fed Beige Book says economy contracted ‘sharply and abruptly’ due to coronavirus
Economic activity has showed a deep decline due to measures taken during the coronavirus scare, with leisure and hospitality as well as retail the hardest-hit so far, according to the Federal Reserve’s latest Beige Book report. The report released Wednesday...
Federal Reserve on coronavirus: Activity contracted sharply and abruptly
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World Bank president warns the global coronavirus recession will hurt poorer countries the most
The coronavirus pandemic may set back economic growth efforts in developing nations, World Bank President David Malpass told CNBC on Wednesday. Futher progress can be made on access to electricity, clean water and sanitation, Malpass said in a “Squawk on the Street”...
America’s ‘clean energy’ workforce projected to fall by 15% in months ahead
Will Lester | Inland Valley Daily Bulletin | Getty Images Over 106,000 people working in the U.S. “clean energy” sector lost their jobs in March as the industry struggled to soften the impact of the coronavirus pandemic, it was claimed...
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