Deese was Obama’s deputy director of the NEC.  Comes from Blackrock where he was global head of sustainable investing Pres. elect Biden will tap BlackRock’s Deese to lead the National Economic Council.  The the announcement was not officially made today but is expected to take place later this week according to sources.   Deese, who comes from BlackRock where he was
A quiet one amid the Thanksgiving holiday period The yen is leading gains so far today but there isn’t much to really shout about the moves in European morning trade. USD/JPY is sitting around 104.25, testing the confluence of its 100 and 200-hour moving averages @ 104.18-23. There are also large expiries seen rolling off
It was too close to call a winner on election night So, the drama continues. However, will we get more clarity over the next few hours? Perhaps, but a clear result may only come by on Wednesday afternoon in the US. Tallying all the votes for the states that have been called, Biden leads the
Forex news for North American trade on October 30, 2020: Markets: Gold up $12 to $1879 US 10-year yields up 5 bps to 0.87% S&P 500 down 63 points to 3246 GBP leads, NZD lags WTI crude down 64-cents to $35.54 It was month-end and that added an extra wrinkle to an already-uncertain time. The
Forex news for Asia trading for Thursday, 22 October 2020 The USD advanced to start the new trading day and is ending as the strongest of the major currencies (see ranking below). The catalyst was increased uncertainty about a coronavirus deal being passed, although there is still hope. There is also some concern about Russian and Iranian interference
Forex news for North American trade on October 16, 2020: Markets: Gold down $9 to $1899 US 10-year yields up 1.3 bps to 0.745% S&P 500 flat at 3483 WTI crude oil down 18-cents to $40.78 CAD leads, AUD lags There were some big headlines on Brexit and US retail sales today but the market
Biden climbs in post-debate poll A new poll from the Wall Street Journal and NBC puts Biden ahead of Trump by 53-39%, his highest margin from any poll. The gap also doubled from the previous WSJ/NBC poll and follows the debate but was before Trump was diagnosed with coronavirus. Trump is struggling with women and
Not a good look for risk going into European morning trade S&P 500 futures are now down ~0.8% to a fresh low and that is keeping the dollar slightly more bid as we start to look towards European trading. The ranges in the major currencies space are still relatively modest but the greenback is keeping
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Norway publishes the white paper on its sovereign wealth fund proposals The proposition suggests that the sovereign wealth fund should change its “geographical composition” and should reduce its share holdings of developed markets in Europe, instead increasing its share of US and Canadian stocks. In the bigger picture and long-term horizon, this is something to
Forex news for North American trading on September 18, 2020: Markets: Gold up $6 to $1950 WTI crude oil down 4 cents to $40.93 US 10-year yields up 0.6 bps to 0.695% S&P 500 up 36 points to 3221 NZD leads, GBP lags Quadruple witching was the buzz on Friday and selling equities was the
Forex news for North American trading on September 11, 2020: Markets: S&P 500 up 2 points to 3340 US 10-yaer yields down 1 bps to 0.67% Gold down $4 to $1941 WTI crude oil up 2 cents to $37.31 AUD leads, GBP lags The CPI report was largely driven by a jump in used car
Comments by Yoshihide Suga, the frontrunner to succeed Abe as the next Japanese prime minister Abenomics will continue from a monetary, fiscal standpoint Says will continue to pursue further reform Says will not hesitate to take further economic action Aims to make sure everyone receives coronavirus vaccine Protecting jobs, continuing business is the utmost priority
Chinese press says selling is coming State-sanctioned Global Times — citing economists — says China will cuts its holdings of US bonds from the current level of above $1 trillion to about $800 billion on worries about US crackdowns and a ballooning US deficit. This is framed as speculation but nothing gets past the Chinese
Existing home sales for July 2020 existing home sales 5.86M vs. 5.41M estimate.. Highest level since January 2007. Prior month revised slightly lower to 4.7M vs 4.72M existing home sales rose 24.7% vs. 14.6% estimate. Last month sales rose 20.2% vs. 20.7% initially reported housing inventory -21.1% vs. year ago month supply is at 3 months vs. 3.8 months