The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg via Getty Images Certain often-overlooked markets may be telling us that the Fed’s new policy framework is going to have some immediate unintended consequences. While that may be a bold claim, there is hard
Month: September 2020
New York-based blockchain analytics firm Chainalysis has published new research highlighting there have been up to 200,000 crypto transactions in the past year, worth more than $1 billion between Latin America and Asia. The study Latin America Mitigates Economic Turbulence with Cryptocurrency, analyzed crypto trends in Latin America between July 2019, and June 2020, and
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Dow Jones falls -1025 points at its lows The major indices are closing sharply lower. The major indices declines were the sharpest since June for the S&P and Dow. For the NASDAQ, you have to go all the way back to March to have a worse trading day. The Dow industrial average is now back
Developing story EUR/JPY has been in a long term bull trend since the start of may earlier this year and it has reached a supply zone on the monthly chart. So far, the bulls have managed to hold their ground, but they are tiring as momentum slows down in the 126 handle. This gives rise
Congress needs to pass a bill One theory was that the October 1 government shutdown deadline would push both sides to the table for a grand bargain on stimulus but it looks like they’re going to set that aside and use a stopgap bill to keep the government open. The White House was looking for
Gold prices fell to a near one-week low on Thursday, as a stronger US dollar and an uptick in risk appetite following better-than-expected economic data dented demand for the safe-haven metal. Spot gold was down 0.5% to $1,933.06 per ounce by 0723 GMT, after falling to its lowest since Aug. 28 at $1,926.99 earlier in
Dollar’s rebound continues in early US session as positive response to better than expected jobless claims data. For the moment, Swiss Franc is the second strongest, followed by Euro, and both surges against the weak Sterling. Commodity currencies follow as the next weakest, as gold and oil soften. Yen turned mixed as rally in European
The U.S. economic recovery has been held back because Americans lack trust with one another over the coronavirus, Mohamed El-Erian told CNBC on Thursday. “It is very difficult for any individual to be certain whether the other person is healthy or not, and that other person is not certain whether you’re healthy or not,” El-Erian said in
The Rocket Mortgage by Quicken Loans app is displayed on a smartphone Aug. 6, 2020. Gabby Jones | Bloomberg via Getty Images Rocket Companies, the parent of mortgage lender Quicken Loans, swung to a quarterly profit in its first results as a public company on Wednesday, driven by higher borrowings on the back of lower
Financial services giants Visa and Mastercard have shown an increased interest in the trillion-dollar digital payment sector through their recent acquisitions of innovative fintechs. In January this year, Visa acquired fintech firm Plaid for $5.3 billion. The San Francisco-based firm enables data sharing of financial information between different fintech apps like Venmo and Chime, supporting
AUD/USD sits lower on a firmer dollar today, but price action rests in between both its key hourly moving averages For bank trade ideas, check out eFX Plus The low today hit 0.7297 but price is now keeping just above 0.7300 as dollar gains ease up a little on the session. The pair is still
GBP/USD witnessed some follow-through selling for the second consecutive session on Thursday. The USD built on its recovery from two-year lows and was seen as a key factor behind the slide. The sterling was weighed down by the BoE Governor Bailey’s dovish comments, softer UK PMI. The GBP/USD pair maintained its offered tone near the
Latest data released by the Federal Statistics Office – 3 September 2020 Prior -0.9% Core CPI -0.4% vs -0.4% y/y expected Prior -0.4% Swiss inflation continues to stay more subdued – no change to July – and this just reaffirms the narrative that the SNB will keep intervening in the market in order to limit
NEW DELHI: Gold and silver prices gained in Thursday’s session after the United States said its jobless claims did not go down as was expected. Meanwhile, India continues to report the highest number of daily cases in the world lifting bullion’s appeal. US private employers hired fewer workers than expected for a second straight month
Crude oil prices plunged more than -2% on profit-taking. The front-month WTI contract settled at US$41.51/bbl, lowest since August 7. The front-month Brent contract fell to US$44.43/bbl, lowest since August 21, at close. WTI-Brent spread widened to US$ 2.92/bbl. The correction came in despite sharp draw in US inventory. Traders were concerned about falls in