The recent 4-week rally of EUR/CHF from 19 June has started to show signs of exhaustion. Political uncertainties, particularly in France, have had a significant impact on the movement of the currency pair. The ongoing weakness of the France CAC 40 has triggered a negative feedback loop towards EUR/CHF. The EUR/CHF cross pair has managed
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The Canadian Dollar (CAD) is showing slight gains this morning, although it is considered a relative underperformer compared to a weakening US Dollar (USD). Shaun Osborne, Chief FX Strategist at Scotiabank, highlights that the Mexican Peso (MXN) is also losing ground amidst speculation surrounding President Trump’s interest in implementing tariffs. Data from yesterday’s Canadian Consumer
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Citizens Financial (NYSE:CFG) reported better-than-expected second-quarter profits, driven by a strong performance in capital markets that partially offset the impact of weaker lending activities. The U.S. economy’s resilience has led to an increase in corporate bond sales, resulting in higher fees for investment banks involved in underwriting these deals. Capital markets fees surged by 63%,
Federal Reserve Governor Christopher Waller recently hinted at potential interest rate cuts in the near future, assuming there are no major surprises in terms of inflation and employment data. He expressed his belief that current economic indicators are aligning towards a soft landing, indicating that a rate cut may be warranted soon. Waller outlined three
HSBC made a significant announcement on Wednesday, revealing that Georges Elhedery will be taking over as the group CEO starting September 2. This move comes after the departure of Noel Quinn, who had been at the helm for nearly five years. Elhedery, the current chief financial officer, will step into his new role in September,
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Argentina’s dollar-denominated bonds have been experiencing a sharp decline in value this week, as all restructured issues are down over 1 cent in price. The 2035 maturity bond has seen the most significant drop, with a decline of 1.7 cents, while the 2041 bond has dropped 1.5 cents to trade at 37.29 cents, the lowest
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Gold prices surged to a record high on Tuesday, with gold futures climbing 1.5% to $2,465.30. This jump surpassed the previous peak of $2,454.20 reached in May. Spot gold also hit an all-time high of $2,465.19 during the session. This increase in prices was largely driven by the growing anticipation of a September interest rate
BlackRock, the asset management giant, reported a 10% increase in profits in the second quarter of the year. This rise in profits was largely driven by robust ETF inflows and a rising stock market. The company reported a record $10.6 trillion in assets under management by the end of Q2, marking a 13% increase from
The USD/JPY pair has shown signs of edging higher to 158.30 in early Asian trading sessions, driven by a rebound in the US Dollar. With Fed officials acknowledging significant progress on inflation, investors are closely monitoring US economic data, particularly the June Retail Sales and speeches from Federal Reserve officials. This positive outlook on the