Deutsche Bank reported a total net profit of 692 million euros, or about $818 million, in the second quarter of this year, more than double what analysts had expected. The bank’s net profit for the second quarter was estimated to be in the region of 328 million euros, according to …
Read More »Federal Reserve Could Show Clearer Signs on Tapering
The United States Federal Reserve is holding its fifth policy meeting this year and it is expected that the discussion about the future of the massive asset purchases, as well as the increasing inflationary pressures, will take center stage in discussions amongst members of the Federal Open Market Committee (FOMC). …
Read More »Biden Warns Cyberattacks Could Lead to War
The President of the United States, Joe Biden, has warned on Tuesday that the U.S. could go to an actual war with a major power due to cyberattacks. highlighting what Washington sees as growing threats posed by Russia and China. “I think it is more than likely we are going …
Read More »USD Maintaining Negative Performance for Second Day
The U.S. Dollar (USD) continues to fluctuate after logging another loss against major peers on Tuesday, as risk appetite took a blow from concerns over the coronavirus Delta variant and losses across stock markets. The greenback declined on Tuesday, for the second consecutive session, with the Dollar Index (DXY) falling …
Read More »Wall Street Ends Rising Rally with Tech Stocks Leading Losses
The main indices of the New York Stock Exchanges (NYSE) closed lower on Tuesday, ending a rally that saw new record highs on the back of positive earnings reports by some of Wall Street’s blue chips. Concerns over the spread of the Delta variant, which led the CDC to recommend …
Read More »Oil Finishes Lower amid Uncertainty
Oil prices finished marginally lower on Tuesday, amid uncertainty and continued concerns about a potential downturn in demand recovery due to the spread of the Delta variant of the novel coronavirus. Despite the recent decision by the OPEC+ alliance to further ease output cuts and continue to raise production gradually …
Read More »CDC Recommends Vaccinated Americans Continue to Wear Masks
The Centers for Disease Control and Prevention (CDC) in the United States has recommended that people who are fully vaccinated against the novel coronavirus (COVID-19) should continue to wear masks in indoor public places, such as schools. The recommendation is more focused on areas where the Delta variant is spreading. …
Read More »Gold Rises Slightly Awaiting Fed Report
Gold prices rose on Tuesday, restoring some of its losses yesterday but failed to restore the $1,800 mark, with all eyes on the Federal Reserve policy meeting. With the U.S. Dollar (USD) moving into negative territory during the American session, the yellow metal was able to make some modest gains …
Read More »Richmond Fed Manufacturing Index Improves in July
The U.S. manufacturing sector continues to show some improvement signs, as shown by the results of the Federal Reserve Bank of Richmond survey, released on Tuesday. The Fifth District Survey of Manufacturing Activity’s composite index rose in July to 27 from 26 in June. The reading shows that manufacturing activity …
Read More »U.S. Consumer Confidence Returns to Pre-Pandemic Levels
U.S. consumer confidence improved in July, reaching its best level in about 17 months, returning to its level before the coronavirus pandemic, data showed on Tuesday. The improvement comes despite concerns about the resurgence of the pandemic with the spread of the Delta variant. The consumer confidence index rose to …
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