In the UK, 33% of firms expect the economy to shrink and over 14% expect it to contract by 1-3%. Another 6% believe the UK economy will stay flat with no growth. In the US, 16% of firms expect the economy will shrink in 2020, most likely by 1-3% (7%) and 6% also expect it…
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US markets started climbing today after nearly two weeks with a 4% plus move in either direction during every trading session. Tesla shuts down US production. The company sank heavily in after-hours trading following the announcement that it is suspending US car production due to the pandemic. All asset classes sold as Sterling lowest since…
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OIL Crude oil has managed to recover almost 40% of its value after the low it sunk to two days ago at $20. This is also giving a bit of relief to stocks related to energy sector, such as Total, Eni and Shell, which is up almost 10%. After the strong sell-off seen earlier this…
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Late on Thursday evening, California – which would be the world’s fifth largest economy if it were a separate country – ordered all 40 million residents into lockdown (essential activities exempt) due to the continued spread of the coronavirus. US cases have now passed 10,000 and New York City mayor Bill de Blasio has made…
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OIL Oil is experiencing a perfect storm in which coronavirus is destroying the demand side, while supply is overwhelmed by the deluge on offer from Saudi Arabia. As a result, the price crashed to an historic low at $20, before attempting a rebound to $23. This scenario will probably not last for long, as for…
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Boeing ‘on the brink’ In the US, the Dow Jones Industrial Average was the hardest hit of the three major indices on Wednesday, closing 6.3% lower, with Chevron, Boeing and Travelers the biggest losers. Boeing fell another 17.9% despite rumblings of a government bailout for airlines and aerospace firms, taking its one month loss close…
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CoinZoom supports most popular cryptocurrencies including bitcoin (BC) and ether (ETH) in pairs with US dollar. The platform also provides facility for proof-of-stake (PoS) coins, which brings rewards for holders. CoinZoom already has a trending app for Apple iOS devices and can be also used as a remittance solution. CoinZoom founder and CEO Todd Crosland…
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The AMF asks investors to not do business with persons or entities associated with Magaffairs and to not pass their marketing advertisement to third parties. The AMF also reminds investors to follow these simple guidelines before making an investment: High returns always involve high risk and no advertising materials should be able to convince you…
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Porter is a Chartered Financial Analyst (CFA), he also has decades of experience in positions such as Chief Investment Officer, Chief Economist and Global Head of Fixed Income at major organizations such as the World Bank, to hedge funds, to Barclays and AXA. RJO Chief Sales Officer Dan Staniford commented: John has truly outstanding credentials,…
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News broke yesterday that President Trump’s administration is seeking a trillion-dollar stimulus package that could include sending Americans $1,000 checks in the coming weeks. Following this, 10-year US Treasury yields climbed back above 1%, having been below half that rate earlier in the month. Treasury Secretary Steven Mnuchin reportedly warned Republican senators that without action…
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