Coronavirus crisis will exacerbate spending pressures in rapidly ageing societies in Europe, Moody’s Investor Services said on Wednesday, as reported by Reuters. “Coronavirus fallout will make Europe more indebted, more social and more reliant on technology,” Moody’s added. “Coronavirus crisis is expected to increase momentum around Europe’s digital strategy, supporting demand for technology companies’ services.” Market reaction
EUR/USD touches a high of 1.1584, its highest level since October 2018 For bank trade ideas, check out eFX Plus The pair has had a bit of a choppy session in European morning trade, falling from 1.1540 to 1.1507 as the dollar firmed but is now turning things around amid a run of stops above
Latest data from the Mortgage Bankers Association for the week ending 17 July 2020 Market index 848.8 vs 815.5 prior Purchase index 310.9 vs 305.4 prior Refinancing index 3,973.3 vs 3,774.3 prior 30-year mortgage rate 3.20% vs 3.19% The positive takeaway from the report here is that purchases crept higher once again, and the rise
LONDON: Oil prices fell on Wednesday as industry data showed a bigger than expected inventory build in the United States, where a surge in coronavirus cases could further dent fuel demand in the world’s biggest oil consumer. Brent crude fell 39 cents, or 0.9 per cent, to $43.93 a barrel by 0837 GMT. US West
Silver price’s rally has accelerated over the past weeks. Currently trading at US$ 22.65/oz, price has jumped +27% ytd. Yet, much of the gains (22% out of 27%) was made in the first three weeks of July. With its dual properties, as both industrial and precious metals, silver will continue to benefit from global economic
A near empty parking lot in front of a Best Buy store in Montebello, California on April 15, 2020 as the electronics nationwide chain store remains closed to customers but open for pickups. Frederic J. Brown | AFP | Getty Images Best Buy said on Tuesday its quarter-to-date sales rose about 2.5%, driven by a
In an interview with Cointelegraph, Adam Traidman, the CEO of wallet provider BRD, recounted operating a phone support line for cryptocurrency users during the company’s infancy. After starting BRD, formerly Breadwallet, in 2015, Traidman recalls the firm’s CMO deciding to launch the “Bitcoin Therapy Hotline” without consulting the firm’s other executives. Traidman initially thought the
Retail Sales overview Early Wednesday, the market sees the preliminary reading for the June month Retail Sales data from Australia at 01:30 GMT. Following a 16.9% increase in May, markets are expecting a 7.1% rise in the key data. Traders are particularly interested in the data as the RBA Governor Philip Lowe showed readiness to
NASDAQ closes lower for the 1st time in 3 days US stocks are ending the session mixed. The S&P index moved higher close at the highest level since February 21. The S&P is up for the 3rd consecutive day The NASDAQ index close lower after 2 days of gains the Dow industrial average is on a
Credit Agricole EUR/CHF outlook, maintains a bullish bias targeting a move towards 1.15 “EUR/CHF has been advancing of late hand in hand with outperforming EUR-denominated risk assets, a development that may continue going forward should it be indicative of an improving risk asset related capital flow situation. Historically speaking, the capital flow situation has been
LONDON: Oil rose on Tuesday, helped by positive news about vaccine trials and an EU stimulus deal, taking prices to levels last seen when an oil price war erupted in early March between Russia and Saudi Arabia. Benchmark Brent crude was up $1.24 cents at $44.52 by 1337 GMT, on track for its biggest daily
Global stock markets are lifted by the agreement on the EUR 750B Next Generation EU recovery package. Commodity currencies surge broadly with Australian Dollar leading the way. RBA Governor indicated that the current exchange rate is inline with Australia’s fundamentals. On the other hand, Dollar, Yen and Swiss Franc are under broad based pressure due
A United Airlines Boeing 777-200 aircraft Nicolas Economou | NurPhoto | Getty Images United Airlines posted a $1.63 billion net loss for the second quarter, driven by a plunge in air travel demand because of the coronavirus pandemic, the carrier said Tuesday. Revenue fell more than 87% from a year earlier to $1.48 billion from a
The Chairman of Kazakhstan’s anti-corruption service has called on the government to develop a national digital currency to fight corruption in the country. Alik Shpekbayev, chairman of Anti-corruption Agency of the Republic of Kazakhstan, reportedly said that national digital currencies like China’s digital yuan should contribute to a more transparent financial system. The news was
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In a report published on Tuesday, the UK’s Office for Budget Responsibility (OBR) noted that the UK’s debt to GDP ratio could exceed 100% soon. The OBR noted that the year-to-date borrowing is lower than they have determined in the central scenario and explained that this situation was reflecting the lack of loan write-offs in data