PBOC left the loan prime rate (LPR) unchanged at 3.85% in July. The inaction does not suggest that the current monetary policy is appropriate. Weakness in economic activities is expected to exacerbate in the second half of the year, thanks to the resurgence of the pandemic and the lingering consequences of the flood. Speculations of
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Federal Reserve officials at their July gathering made plans to pull back the pace of their monthly bond purchases likely before the end of the year, meeting minutes released Wednesday indicated. However, the summary of the July 27-28 Federal Open Market Committee gathering indicated that the central bankers wanted to be clear that the reduction,
In this article FL Shoppers stand in line to enter a Foot Locker Inc. store at the Queens Center shopping mall in the Queens borough of New York, U.S., on Wednesday, Sept. 9, 2020. Peter Foley | Bloomberg | Getty Images Foot Locker shares soared more than 7% in premarket trading Friday after the company
Retail Sales in Canada rose less than expected in June. USD/CAD clings to daily gains around 1.2900 after the data. Retail Sales in Canada rose by 4.2% on a monthly basis in June, the data published by Statistics Canada showed on Friday. This reading followed May’s contraction of 2.1% and came in slightly weaker than
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What an ugly fall this week The final tell for an Australian dollar capitulation should have been yesterday’s jobs report. The numbers for July were surprisingly good and yet AUD/USD could only muster a 10 pip rally on the headlines. To be fair, it landed at a time of incredible USD/JPY buying and it’s a
The vaccine picture is dimming It’s all about covid this week so let’s dive in. Two notes have my attention today and they highlight the uncertainty around trends in the virus. The first is from JPMorgan, where analysts sound like they’ve given up on amateur virology. “wide differences in the paths now being followed across
Smart contracts have been a revolutionary force in the blockchain industry because they have enabled the creation of decentralized finance protocols, nonfungible tokens and a new form of carrying out transactions without the need of a middleman. Cardano (ADA) is one of the many projects that has been gaining momentum throughout 2021 and now that
Iron ore plunged and copper sank to a four-month low as worries over Chinese steel production, global growth risks and the prospect of reduced U.S. stimulus roiled metals markets. This week’s drop for iron ore accelerated, with futures sliding as much as 12% to the lowest since December in Singapore on expectations that Chinese steel
Selloff in commodity currencies intensifies today as risk sentiment turn sour again. Major European indexes are all in deep red while US futures point to lower open. Yen, Swiss Franc and Dollar are taking turns to be the strongest one in a three-horse race. Aussie is so far the worst performing, followed by Loonie and
First-time filings for unemployment insurance hit a pandemic-era low last week, a sign that the jobs market is improving heading into the fall despite worries over the delta Covid variant. Jobless claims for the week ended Aug. 14 totaled 348,000, the Labor Department reported Thursday. That was below the Dow Jones estimate for 365,000 and
In this article M Shoppers visit Macy’s flagship store in New York, May 20, 2021. Eduardo Munoz | Reuters Macy’s on Thursday reported fiscal second-quarter profit and revenue that topped analyst estimates, as customers returned to its stores to buy denim, luggage and new dresses. The department store chain also hiked its outlook for 2021,
“A majority of Japanese firms want Prime Minister Yoshihide Suga to lose office through general elections that must be held this year, frustrated with the lack of leadership in his handling of COVID-19 and its economic fallout,” a Reuters poll published early Friday showed. Key quotes The Corporate Survey canvassed 503 large and midsize non-financial
Flight to safety flows lead the forex market today The JPY is the strongest and the AUD is the weakest as North American traders enter for the day. The moves in the forex, are the usual flight to safety ones. The USD and the CHF are just behind the JPY as the strongest. The commodity
Forex news from the European trading session – 19 August 2021 Headlines: Markets: JPY leads, AUD lags on the day European equities lower; S&P 500 futures down 0.8% US 10-year yields down 4.3 bps to 1.23% Gold flat at $1,788.51 WTI down 3.8% to $62.98 Bitcoin down 0.2% to $44,433 The dollar started the session
LONDON: Oil dropped to $66 a barrel on Thursday, its lowest since May, pressured by concerns about weaker demand as COVID-19 cases rise, a stronger U.S. dollar and a surprise increase in U.S. gasoline inventories. Circulation of the Delta variant in areas of low vaccination is driving transmission of COVID-19, the World Health Organization said.