European Commissioner for Economy Paolo Gentiloni said in a statement on Thursday, “we’re in a period of economic contraction.” Further comments “Contraction can be limited to two quarters.” “A technical recession in Germany is uncertain.” “China’s reopening means LNG prices are going up.” “Real inflation challenge is adapting fiscal policy.” “We need more flexible, enforceable
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The USDCAD has continued it’s run to the upside after an early move above the 200 hour MA, ultimately led to the breaking above the confined range between 1.3344 and 1.3454 (110 pips – see red box in the chart below). The momentum higher has now taken the price to a high in the current
There’s a great two-part series in the Financial Times this week by Patrick McGee about how Apple’s entire supply chain is enmeshed with China and how it will be nearly impossible for it to extricate itself. McGee highlights that 95% of all Apple products are manufactured in China and that Tim Cook was the architect
Oil prices rose on Wednesday to their highest since early December on optimism that the lifting of China‘s strict COVID-19 curbs will lead to a fuel demand recovery in the world’s top oil importer. Brent crude futures were up $1.12, or 1.30%, to $87.04 a barrel by 1352 GMT, while U.S. West Texas Intermediate (WTI)
Sterling and Swiss Franc rise notably today, with help from the buying against Euro. The common currency is weighed down by talks of slower ECB tightening in March, but remains resilient against Dollar. Nevertheless, the Pound and Swissy are outshone by Kiwi for now. Yen is starting to reverse some BoJ triggered selloff in early
Federal Reserve Chairman Jerome Powell has tested positive for Covid-19, the central bank announced Wednesday morning. Powell, 69, is “experiencing mild symptoms,” according to the announcement. “Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news
In this article GS GSBD Follow your favorite stocksCREATE FREE ACCOUNT Goldman Sachs on Tuesday posted its largest earnings miss in a decade as revenue fell and expenses and loan loss provisions came in higher than expected. Here’s what the investment bank reported: related investing news Citi downgrades Morgan Stanley after earnings beat, says upside
Reuters reports that Philadelphia Federal Reserve President Patrick Harker reiterated on Wednesday that he’s ready for the US central bank to move to a slower pace of interest rate rises amid some signs that hot inflation is cooling off. “High inflation is a scourge, leading to economic inefficiencies and hurting Americans of limited means disproportionately,” Harker said
Bitcoin (BTC) faced a potentially volatile day on Jan. 18, with multiple macro triggers beginning to unsettle the outlook. BoJ refuses to hike Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding firm above $21,000 on the day. The pair remained cool amid news from Japan, where the central bank — the Bank of
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The Bank of Japan will meet in the new day, and coming a month after the increase in the ceiling rate for the 10 year from 0.25% to 0.50%, the thought is that the dam has a crack, and it will be broken in 2023 as the BOJ starts to address the threat of inflation
The pain is piling on for the dollar to start the year as it is being sold across the major currencies board once again in trading today. The only salvation is that the yen is doing worse after the BOJ policy decision earlier but even USD/JPY has recovered strongly from 131.50 to 129.80 levels at
Gold prices retreated after touching lifetime highs earlier in the week as investors trimmed their positions. On Wednesday, gold futures were down 0.12% at Rs 56,285 on in morning trade. Meanwhile, silver futures rose Rs 78 to trade at Rs 69,264. The losses in the yellow metal were limited as traders still hoped that the
Yen falls broadly after BoJ defied some speculations and kept yield cap unchanged today. The announcement also sent Nikkei sharply higher while shot 10-year JGB yield down. Nevertheless, it’s still a bit early to confirm reversals in Yen crosses. Meanwhile, commodity currencies are trading firmer today. European majors are on the weaker side. In particular,
In this article MS Follow your favorite stocksCREATE FREE ACCOUNT A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE), January 19, 2022. Brendan McDermid | Reuters Morgan Stanley reported fourth-quarter earnings on Tuesday that exceeded Wall Street expectations, boosted by the bank’s record wealth management
The Japanese Yen plunged to the 131 level after the BoJ’s decision to leave its policy tools unchanged. Economists at ING expect the USD/JPY rcovery to stall at 132.50/133 and see the pair with chances to trade at 120 by year-end. A volatile bear trend “USD/JPY remains priced as one of the most volatile currencies