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Wed, Dec

The rating agency Fitch has released its report for North America. It rates the North American countries as stable, including the US. The US debt has been growing and it is in record levels, but Fitch says that the financing flexibility balances the risk of a growing debt. Below are some of the highlights from the report:

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The consolidation pattern for January WTI crude oil futures between $52.00 and $50.00 continues for a third-straight session. Traded volumes are heavy, with over 425,000 contracts changing hands for January alone. In the wake of today’s positive EIA crude oil stocks report, energies players are taking a bearish stance towards global oil.

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EUR/USD has turned pretty bearish in the last two months. It made a decent retrace from mid August until mid September but it failed to break and hold above the 1.18 level, so this pair turned bearish in September and it continued down for two months with some pretty weak retraces during this period.

Although a decent retrace is now under way.  EUR/USD finally broke below the 1.13 support level last week, which was a major break since that level has been a long term support and resistance level. But before breaking 1.13, EUR/USD broke below another major level at 1.15.

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It’s been a while since we heard something spicy from the Bank of Japan Kuroda, but today is the day. While speaking in Parliament, Governor Kuroda said, “There’s no need to take additional steps. What’s important is to ensure our policy is sustainable, with an eye on balancing its pros and cons,”

Besides this, it showed concerns to wind up the negative interest rates soon which makes it a quite bullish news for the JPY. We all know that the BOJ is targeting 2% inflation and the Japanese economy is still holding somewhere around 0.5% inflation, far away from their targets. It seems hard for BOJ to hike the interest rate. Which is why bigger fishes might not price in this news.

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The European Union’s top trade official said on Thursday that the bloc would be willing to remove all tariffs on cars and other industrial products as part of a limited trade deal with the United States, an apparent shift that may please the Trump administration but could also violate global trade rules.

Cecilia Malmstrom, the European commissioner for trade, told members of the European Parliament that the bloc was willing to reduce “car tariffs to zero, all tariffs to zero, if the U.S. does the same.”

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For decades, Americans living in certain neighborhoods couldn’t borrow money to buy houses and build businesses. These neighborhoods were home to people of color, immigrants and poor white people. Banks, real-estate agents, local officials and the federal government labeled their neighborhoods “hazardous,” marking them off with red lines on maps.

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