Month: December 2020
LONDON — Saxo Bank says universal basic income could become a permanent reality next year, triggering a “seismic rebalancing” of society as workers wave “bye-bye” to big city life. In a report entitled “Outrageous Predictions,” the Danish bank on Tuesday outlined 10 “outlandish forecasts” for 2021, although it did stress these are not its “official”
Following Wednesday’s sell-off, Gold (XAU/USD) traded within the $1825-$1850 range in the balance of the week, settling almost unchanged below $1840. The choppy trading could be attributed to the coronavirus vaccine-driven optimism and US fiscal stimulus headlines. Heading into a fresh, an elusive US stimulus aid package and the FDA Pfizer’s covid vaccine authorization
The USD is modestly lower For the week, the AUD is ending as the strongest of the major currencies, while the GBP is the run away weakest. Nearly a 1/3 of the gains for the AUD was against the GBP (+3.02%). The currency also moved 1.51% vs the EUR and 1.47% vs the USD. The
These numbers are really not a surprise California is reporting a record 35,468 new virus cases. The average test positivity rate rises to 9.7% Covid hospitalizations jump 3.6% to record 12,000 hundred 40 The numbers are really not a surprise coming after the Thanksgiving Day holiday. Bring on the vaccine but the trend is likely to continue
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Mumbai: Even as there was a complete shutdown of business in June quarter due to COVID-19 related disruptions, diamond jewellery witnessed sharp recovery from October onwards and the industry is expected to do 70-85 per of last year’s sales, De Beers India Managing Director Sachin Jain has said. “I would certainly predict that we will
Sterling was in free fall last week after both UK and EU admitted that a no-deal Brexit is more likely than not. Negotiation deadline was ended to end of Sunday. Euro and Dollar, followed as the next weakest and focus turned to rally in commodity currencies. In particular, Australian Dollar was pulled up by surging
We still haven’t seen “the storm before the calm.” So says Alejandra Grindal, senior international economist at Ned Davis Research, despite the market’s run to record highs, reignited Tuesday by positive announcements around a Covid-19 vaccine. The U.K. began rolling out Pfizer and BioNTech’s vaccine to its citizens Tuesday, just as the U.S. Food and
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Amid looming Sunday’s deadline to clinch a trade deal with the UK, the European Union (EU) member states have been warned not to entertain side deals with Britain, which would ease the consequences of a no-deal Brexit, the Financial Times reported Saturday, citing a diplomatic note. This comes after both the UK Prime Minister Boris Johnson
Major indices decline for the week The shares of Disney rose by over 13% and boosted the Dow up by over hundred points alone. That was enough to lift the down to a near 50 point gain on the day. However, all the major indices had declines for the week with the S&P leading the
Forex news for North American trading on December 11, 2020 No Brexit deal. No covid stimulus deal. London may have to go to Tier 3 restrictions as a result of increasing Covid cases. NYC will close all restaurants on Monday. The electoral college will be decided on Monday as the Pres (and some states) look to orchestrate a Supreme
Oil prices settled lower on Friday, as demand worries due to new coronavirus-related restrictions on business in New York overshadowed progress toward vaccination programs. Brent futures settled down 28 cents, or 0.6% at $49.97 a barrel. The contract rose above $51 a barrel on Thursday to an early-March high. U.S. West Texas Intermediate (WTI) crude
As promised, the ECB “recalibrated” the existing monetary policy measures at the December meeting. The aim is to ensure that the current level of stimulus remains in presence through to 2020. On the economic projections, the staff revised lower the GDP growth forecast for 2021 but higher for 2022. Inflation forecasts were downgraded quote significantly.
People line up to receive free holiday boxes of food from the Food Bank For New York City ahead of the Thanksgiving holiday, as the global outbreak of the coronavirus disease (COVID-19) continues, in the Harlem neighborhood of New York, U.S., November 16, 2020. Brendan McDermid | Reuters The surprise jump in new jobless claims
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