- Jack Ma under fire again - China fines Alibaba 18bn yuan (circa US$2.8bn)on April 10, 2021 at 5:41 am
Back in November last year Chinese authorities halted Ma's Ant Group US$34.5B IPO. Jack Ma, who controls Alibaba, had criticized domestic (and global) regulators for stifling financial services innovation, criticism the CCP did not appreciate.
- Its that time again. Earnings season starts up next week.on April 9, 2021 at 8:56 pm
Banks traditionally get the ball rolling Believe it or not, the earnings season is starting up next week. It seems like only yesterday. The fact is, the bulk of earnings are spread out over a month or so and then you have other key releases that are outside of that window. Nevertheless, it does not seem
- ForexLive Americas FX news wrap: Canadian jobs blow away estimateson April 9, 2021 at 8:38 pm
Forex news for New York trade on April 9, 2020: Markets: The Canadian jobs report was a stunner and far-surpassed expectations. The market's response was more tepid that you might have anticipated but that owes to fresh lockdowns in April and the belief that all those people are going right back on unemployment insurance. Later, the market
- US stocks look to finish with a flourishon April 9, 2021 at 7:50 pm
Stocks climb to the highs of the day US stocks are getting a late lift in what's already been a strong week. The S&P 500 is up 25 points to 4121. Closing at the highs of the week is a good sign for the week ahead, though this will be the 6th gain in 7 days and
- The Swiss franc was the top performer this week with retracement as the themeon April 9, 2021 at 7:14 pm
CHF with a big rebound The theme in markets this month has been retracement and repositioning. Bond yields have been coming back and FX trades that have worked all year are unwinding.
- US CPI and retail sales top the economic calendar next weekon April 9, 2021 at 6:39 pm
What's coming up next week It's been years since the PPI report mattered for markets but it did today. The 4.2% y/y reading briefly rattled the market today, leading to a selloff in bonds.
- Euro erases losses as the resilience continueson April 9, 2021 at 5:48 pm
Euro back above 1.19 No one seems to like the euro as it struggles with another covid wave and an inability to conclude a collective fiscal passage. Yet someone is buying. EUR/USD has climbed to 1.19 from 1.17 at the start of the month. Today it dipped back to 1.1867 but has rebounded to unchanged. Barring a
- White House: When we are confident in US supplies we will share more vaccineson April 9, 2021 at 5:24 pm
US still sitting on AstraZeneca vaccines The US still has nearly 30 million doses of the AstraZeneca vaccine in storage and the chance of it ever being approved or used is low. Some of them have been given to Mexico and Canada but no doubt allies are pressuring them to release more.