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Sterling drops notably today after BoE announced to expand the asset purchase program as widely expected. Australian Dollar is currently following as second weakest, then New Zealand Dollar. Markets are in slight risk-off mode today, as European indices are trading in slight red. Yen and Dollar ride on the trade and strengthen broadly. Though, Swiss
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Fear vs no fear is the real question The best thing I read yesterday was a comparison between places the locked down, versus those who didn’t from Bloomberg’s Noah Smith. What’s increasingly clear is that the economic differences between places that locked down versus those who didn’t was minor. Here are credit card spending patterns:
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New Delhi: Global oil demand may have peaked in 2019 as Covid-19 has heightened the risk that behavioural changes such as working and shopping from home may be long-term trends, while renewable energy and electric cars are rapidly reducing the use of fossil fuels, Moody’s said in a research report. Renewable energy and car sales
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MELBOURNE: Oil prices pushed higher in early trade on Friday, building on gains in the previous session, after OPEC producers and allies promised to meet their supply cut commitments and two major oil traders said demand was recovering well. U.S. West Texas Intermediate (WTI) crude futures climbed 23 cents, or 0.6%, to $39.07 a barrel
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The financial markets are generally treading water in Asian session today, with very limited movements. Yen, Swiss Franc and Dollar are the strongest ones for the weak so far. But there is not much committed buying seen yet. On the other hand, Sterling is the worst performing one for the week at this point, with
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Rasied target from 1.0200 Bank of America strategist raises the 3rd quarter EURUSD forecast. Sees EURUSD at 1.08 by the end of third-quarter 2020. Prior estimate was 1.02 Athanasios Vamvakidis, head of G 10 currency strategy said: Although our Q3 target will represent some downside, that downside is likely be more limited in the near term ECB easing
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LONDON/DUBAI/MOSCOW: An Opec+ ministerial panel is due to begin talks at 1200 GMT on Thursday to review the progress of a record oil supply cut and discuss plans from countries yet to deliver their share in full on how they propose to comply. The Organization of the Petroleum Exporting Countries and allies, known as Opec+,
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BOE turned out to be less pessimistic than we had anticipated. The members acknowledged that global economic contraction in 2Q20 will be “less severe than expected”. While the size of QE is expanded, the members will likely slow the pace of asset buying. The policy rate stayed unchanged at record low. The decision sent gilts
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Cases rise 4.7% Cases up 1827 vs 2392 in yesterday’s record surge New deaths 20 vs 25 yesterday New PCR tests: 11,855 (15.4% hit rate) This is a better number from Arizona compared to the jump yesterday but 1827 new cases still makes it the second-worst day for the state. Here’s the chart (excluding today)
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
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