The U.K. parliament is back in session and all eyes are on the British Lion as October 31 looms.
That’s the date new prime minister Boris Johnson promises to take the U.K. out of the European Union, deal or no deal.
There are several countries around the world with which companies are prohibited from carrying out any sort of financial transaction. The reason for these bans is that the countries are blacklisted under authority of the Financial Action Task Force (FATF), an intergovernmental body that the G7 group of nations founded in 1989.
According to the U.S. Small Business Administration1 there were 30.7 million small businesses operating in the U.S. in 2018, employing 59.9 million people, or 47.3% of all U.S. employees, the SBA notes.
While these small businesses are spread across every state and city in the country, some cities stand out as being more welcoming for small companies than others, especially entrepreneurial start-ups just opening their doors.
Global equities have rallied overnight, alongside U.S. Treasury yields, while the ‘big’ dollar trades under pressure after the U.S. and China declared a temporary truce in their Sino-U.S. trade war.
No progress was made on key differences regarding intellectual property and forced technology transfers.
With the launch of a new $10 bill on November 19, Canada has ushered in an era of firsts: the first Black woman on a Canadian bank note, and the first Canadian bank note with a vertical, not horizontal, orientation.
The bill features social justice icon Viola Desmond(1914–1965) who was refused entrance to a whites-only section of a Nova Scotia movie theatre in 1946.
Aside from the FAANG share liquidation to the tune of $1Trillion in face value last week, capital markets have been grappling with the expected pace of the Fed rate hikes for 2019.
A December Fed hike has already been priced in, but with weaker U.S. data and an ongoing trade war, between the world’s two largest economies, dealers are reducing their bets on a three-cycle hike from the Fed next year.
Earlier this week U.K PM Theresa May agreed a draft Brexit withdrawal agreement with Brussels. Her cabinet backed it on Wednesday – but there have since been resignations.
Six government ministers, including Brexit Secretary Dominic Raab, one of the architects of the deal, quit yesterday, raising the possibility that she could face an open challenge to her leadership.
GBP/USD has started the week with solid gains. In Monday’s North American session, the pair is trading at 1.3022, up 0.40% on the day. On the release front, Services PMI dipped to 52.2, shy of the estimate of 53.4 points. In the U.S, ISM Non-Manufacturing PMI posted a strong gain of 60.3, above the estimate of 59.3 points.
The dollar is higher against major pairs on Friday after the release of the October U.S. non farm payrolls (NFP) report showed a massive 250,000 jobs gain and the fastest wage growth pace since 2009. U.S. fundamentals have been solid and boosted the U.S. dollar higher despite rising political risk ahead of the U.S. mid-terms next week.