Credit Suisse expects a net loss in the fourth quarter after increasing its provisions for a long-running dispute in the U.S by $850 million, according to CNBC. The bank has already set aside $300 million for the decade-long dispute on U.S residential mortgage-backed security (RMBS). Credit Suisse believes it has strong grounds for appeal despite setting aside $300 million … [Read more...] about Credit Suisse Forecasts Fourth Quarter Loss on Higher Provisions
Forex News
U.S. Initial Claims Eases in Early January 2021
U.S. initial claims for the week ending January 2 was 787,000, a fall of 3,000 from the previous week’s revised level, according to the Department of Labor press release. The adjusted insured unemployment was 5.072 million during the week ending December 26, down 126,000 from the previous week's revised level. The previous week’s initial claims was revised up by 3,000 from … [Read more...] about U.S. Initial Claims Eases in Early January 2021
Eurozone Construction Drought Continues in December
Eurozone Construction Total Activity Index tumbled to 45.5 in December, from 45.6 in November, according to IHS Markit press release. The index signifies a further contraction in Eurozone construction activity fueled by the ravaging impacts of the COVID-19 pandemic. The sharpest decline in activity was in commercial construction, followed by civil … [Read more...] about Eurozone Construction Drought Continues in December
EUR/USD Is Edging Towards A New Five-Year High, Could This Happen This Week?
The EUR/USD is up 0.28% on Wednesday, solidifying a positive trend that started in late March 2020. Over the past year, the pair has gained 10.98% and 0.91% year to date. Also, the pair has shown considerable volatility, with the 52-week range being 1.0636 to 1.2346.Coronavirus remains a significant influence on market sentiment. The Presidential elections, together with this … [Read more...] about EUR/USD Is Edging Towards A New Five-Year High, Could This Happen This Week?
Private Sector Employment Shed 123,000 jobs in December
U.S private sector employment declined by 123,000 jobs from November to December, the first decline since April, according to PR Newswire press release. The job losses, mainly concentrated in retail, leisure, and hospitality, underlined the pandemic's impact on the labor market. By Company SizeMedium businesses added 37,000 jobs.Small businesses shed 13,000 Large businesses … [Read more...] about Private Sector Employment Shed 123,000 jobs in December
