Sterling softens notably today as focus turns to BoE rate decision, and more importantly the stance regarding negative interest rates. Euro and Swiss Franc remain generally weak too. New Zealand and Canadian Dollars are paring some gains as risk markets turned mixed again. But Aussie is somewhat bucking the trend with a rebound. Dollar buying
Month: February 2021
Signage is displayed outside a Yum! Brands Inc. Taco Bell and Kentucky Fried Chicken (KFC) restaurant in Louisville, Kentucky, U.S., on Thursday, Jan. 30, 2020. Luke Sharrett | Bloomberg | Getty Images Yum Brands on Thursday reported quarterly earnings and revenue that topped analyst predictions, despite international dining room closures weighing on same-store sales growth
Following the Bank of England’s (BoE) decision to leave the policy rate and the Asset Purchase Facility unchanged at 0.1% and £895 billion, respectively, BoE Governor Andrew Bailey is delivering his remarks on the policy outlook. Key quotes “Economic outlook risks have become more two-sided.” “Not easy to reach a firm view on how much
S&P and Dow leads the way higher. NASDAQ closes lower on late day sell off The major indices are closing mixed, but gave up most of the day gains into the close. A look at the closing levels shows: S&P index rose 3.77 points or 0.10% at 3830.08. The high price reached 3847.51. The low
Hedge fund made $700 million on GameStop (pro-tip: this is what HFs are supposed to do) Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Senvest Management began buying stock in GME in September 2020, not getting caught up in the short-selling mania in the company. Their work included: speaking with
Decentralized finance is rapidly becoming a cornerstone of the cryptocurrency sector but the ecosystem has become increasingly centralized on the Ethereum network and this is causing the entire sector to be plagued by high gas fees and slow transaction confirmations. Average Ethereum gas price. Source: Etherscan This explosive rise in gas fees is leading users
Silver rose more than 2% on Wednesday on bets for a pick-up in industrial demand, regaining some ground following a sharp retreat from a near eight-year peak scaled with the help of a social media-inspired buying frenzy. Spot silver was up 1% at $26.87 per ounce at 11:02 a.m. EST (1602 GMT). It fell more
Economic data released today are largely ignored so far. Euro’s weakness continues despite stronger than expected inflation reading. Swiss Franc and Sterling are also softening slightly. Dollar, on the other hand, struggles to extend gain after much stronger than expected ADP employment. New Zealand Dollar continues to trade as the strongest one, taking the Aussie
A month after reporting the first loss since April, the employment picture bounced back in January as companies added 174,000 new jobs, according to a report Wednesday from payroll processing firm ADP. The gain beat the 50,000 estimate from economists surveyed by Dow Jones and improved on the 78,000 December decline, a number that was
A woman wearing a facemas exits a Chipotle Mexican Grill restaurant with her takeout order on January 14, 2021 in Monterey Park, California. Frederic J. Brown | AFP | Getty Images Chipotle Mexican Grill is expected to report its fourth-quarter earnings after the bell on Tuesday. Here’s what Wall Street analysts surveyed by Refinitiv are
As represented by the spread between Italy and German 10-year bond yields, the Italian risk premium fell on Wednesday, as the European Central Bank’s former pro-EU chief Mario Draghi accepted a mandate to try to form a new Italian government. The spread fell by eight basis points to 106 basis points as investors cheered the
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Mizuho outlines the conditions for USD/JPY to rise The firm says that the market isn’t seeing a significant yen weakening trend at the moment but will feel more comfortable about USD/JPY going back to the 105-110 range if 10-year Treasury yields climb more significantly from hereon. Adding that many exporters are seen putting USD/JPY at
Forex news from the European trading session – 3 February 2021 Headlines: Markets: AUD and NZD lead, GBP lags on the day European equities higher; E-minis up 0.3% US 10-year yields up 1.7 bps to 1.113% Gold flat at $1,837.65 WTI up 0.8% to $55.18 Bitcoin up 1.5% to $36,235 The market was more cautiously
Canadian and New Zealand Dollar are both in the driving seats in the markets this week. Return of risk appetite is providing the base for rally. Meanwhile, Kiwi is lifted by stronger than expected job data while Loonie follows oil prices higher. Aussie is lagging behind on RBA, however. Euro and Swiss Franc continue to
A house for sale on December 17, 2020 in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images Mortgage rates fell for the first time in nearly a month, and that lit a fire under current borrowers who may have thought they missed the boat on refinancing their loans. Applications to refinance jumped 11%