Small-business devastation during the coronavirus crisis presents risks to capitalism in the United States, Mohamed El-Erian told CNBC on Thursday. “If you want capitalism to be sustained, you need buy-in from a lot of people. You cannot get buy-in if it’s all about large corporations,” the chief economic advisor at Allianz said on “Squawk Box.” “Remember
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An Estee Lauder cosmetics counter in Los Angeles, California, August 19, 2019. Lucy Nicholson | Reuters Estee Lauder forecast current-quarter profit below analysts’ estimates on Thursday after posting a bigger-than-expected quarterly loss, as travel restrictions and store closures put in place to contain the spread of coronavirus dampened demand for its premium makeup brands. The
The former governor of Reserve Bank of India, Raghuram Rajan, said that private cryptocurrencies like Bitcoin (BTC) and Facebook’s Libra may have a future even when central banks roll out their own digital currencies. Rajan, who was also the Chief Economist and Research Director at the International Monetary Fund from 2003–2006, said during a CNBC
The thing about key reversal days in FX is when is the close? Gotta pick a time and stick to it I guess, although the end of NY trade does make some sense. Anyway – AUD key reversal day (there are more in other currencies today also, feel free to post in the comments): Key
Traders scaled back their open interest positions in Gold futures markets by almost 4K contracts on Wednesday, according to preliminary figures from CME Group. Volume, in the same time, increased for the third session in a row, this time by around 87.5K contracts. Gold could drop below $1,880/oz Prices of the ounce troy of Gold
The daily case count continues to rise The 1,707 new cases reported today sees the number of active cases across the country rise to ~14,500 and that is the most since 13 May. Meanwhile, another 10 deaths were reported and that brings the total tally on that front to 9,253 persons. For bank trade ideas,
Gold recovered some poise on Thursday after the U.S. Federal Reserve warned that a recovery from the pandemic-induced economic slump faced a highly uncertain path. FUNDAMENTALS Spot gold was up 0.5% at $1,940 per ounce by 0052 GMT, after declining more than 3.5% to a near one-week low on Wednesday. U.S. gold futures fell 1.4%
Crude oil prices weakened despite decline in US inventory levels. At the video conference held by the OPEC+ Joint Ministerial Monitoring Committee, oil producers warned that “the pace of recovery appeared to be slower than anticipated. Yet, they dismissed increasing output cut from the current deal. The report from the US Energy Information Administration (EIA)
Keith Cunningham from South Carolina shops for Walt Disney apparel at the Bargain World gift shop located near Walt Disney World where its conducting a phased reopening from coronavirus disease (COVID-19) restrictions in Lake Buena Vista, Florida, July 11, 2020. Octavio Jones | Reuters Retail sales rose to a record level in July, recovering what
A woman wearing a protective mask passes a homeless person during the coronavirus pandemic on May 12 2020 in New York City. John Lamparski | Getty Images Victoria’s Secret owner L Brands booked a surprise profit and better-than expected revenue during the latest quarter, sending its shares higher in after-hours trading Wednesday. Sales fell 20% during
Bloomberg Intelligence senior strategist Mike McGlone is bullish on Bitcoin (BTC) as he believes that “something unexpected needs to happen for Bitcoin’s price to stop doing what it’s been doing for most of the past decade: appreciating.” However, with the S&P 500 hitting a new all-time high today, traders are booking profits in gold and
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Sellers eyeing the 100 hour MA? The 50% is now a close intraday risk level now. On more downside momentum the price would start to catch up with the rising 100 hour MA. That MA comes in at 1.31364 and moving higher. There is a swing area just above at 1.3142 to 1.3147. I
“Markets see rates low for a very long time, there is no need to offer further guidance yet,” St. Louis Federal Reserve President James Bullard told Reuters in an interview on Wednesday. Additional takeaways “Wall Street has called virus risks about right as businesses, households adapt.” “Full-year hit to US Growth is perhaps 4%, follow-on fiscal package
Fastest growing CFD broker in Europe ForexTB has recently made a huge presence in the financial scene to be the broker of choice. Not surprisingly, they have been granted the title of ‘Fastest Growing CFD Broker in Europe, 2020’, awarded by Global Brands Magazine to highlight their growing success. Why is this such a prestigious
NEW DELHI: Guar gum prices have risen 30 per cent over the rate four months ago as demand has revived from the oil exploration sector in the US, China and Russia and food processing sector in Europe. The uneven spread of rain in the key sowing area of Rajasthan was also supporting the prices, said