EUR / USD remains within a range of 1.15-1.20, depending on the rise or fall in the COVID-19 case count, Westpac analysts say. They estimate that a positive evolution in Brexit could push the common currency to the upper half of its range. Key statements: “The increase in COVID-19 cases in the Eurozone countries is […]
Tag: Banks
EUR / JPY tests five-month support line at 123.39 – Commerzbank
The EUR/JPY it is selling towards its five-month uptrend at 123.39, which is expected to hold initially. A break below here would open the way towards the September low of 122.38 and potentially towards the 200-day moving average at 121.08, as reported. Karen Jones, Head of the Technical Analysis Research team at Commerzbank. “The EUR […]
EUR / USD: A move towards 1.1680 is not ruled out – UOB
The currency strategists of UOB Group suggested that the EUR/USD remains lateralized and could retest the 1.1680 region in the coming weeks. 24 hour perspective: “We highlighted yesterday that there was room for the EUR to weaken further but that 1.1700 was likely to be out of range for now. However, the euro traded quietly […]
GBP / USD between 1.2845 and 1.3120 in the short term – UOB
The Libra maintains mixed perspective unchanged and expected to trade within the range of 1.2845-1.3120 in the near term, currency strategists from UOB Group. 24 hour perspective: “Yesterday, we held the view that the GBP could weaken to 1.2890, qualifying that the outlook for a breakout of last week’s low at 1.2845 was not high. […]
USD / JPY: Expectation of continuity of the range in the short term – UOB
USD / JPY is forecast to remain trading within the 105.00-106.00 range on the near term horizon, UOB Group currency strategists noted. Key statements: 24-hour outlook: “The USD traded relatively quietly yesterday (between 105.26 and 105.62). Price actions offer no new clues and the USD could continue to consolidate for now, probably within a range […]
Wall Street ends up, Apple and Amazon lead the way
The New York Stock Exchange finished higher on Monday, led by technology stocks as investors continued to bank on measures to support the economy. Apple and Amazon have also taken advantage of upcoming events they are organizing. The Apple brand will present new products on Tuesday that could include an iPhone compatible with 5G networks. The […]
Goldman CEO Solomon says ‘no question’ response to coronavirus slow
Goldman Sachs CEO David Solomon said that while there is “no question” that the initial U.S. response to the coronavirus pandemic was slow, progress is now being made and a “path forward” from the crisis will emerge in coming weeks. “There’s no question, David, that we were late to this, we were slow to adapt,” […]
Congress is closing in on a deal
Democrats and Republicans are closing in on a massive stimulus package to combat the economic impact of the coronavirus. In perhaps the biggest signal that an agreement was close, House Speaker Nancy Pelosi, D-Calif., told CNBC on Tuesday morning that there is “real optimism” Congress can clinch a pact within a few hours. Senate Majority Leader […]
JPMorgan Chase orders up to half NY metro employees to work from home
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase on Thursday told managers to implement a plan to have employees based in offices in Manhattan, Brooklyn and Jersey City to start working from home beginning on Friday. “We are asking our managers […]
Citi’s Corbat says ‘this is not a financial crisis’ in Trump meeting
Michael Corbat, CEO, Citigroup, speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020. Adam Galica | CNBC Citigroup CEO Michael Corbat said Wednesday that the current turmoil caused by the coronavirus isn’t stemming from the financial system. “This is not a financial crisis,” Corbat said during a White House meeting. “The banks […]
