Petrobras shares slump as Brazil’s Bolsonaro doubles down on intervention

© Reuters. FILE PHOTO: A logo of Brazil’s state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro By Sabrina Valle and Gram Slattery RIO DE JANEIRO (Reuters) – Petrobras shares plunged 22% on Monday, wiping out 71 billion reais ($ 13 billion) in market value, as Brazilian President Jair Bolsonaro again […]

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Verbal Intervention Will Not Stop the Euro

EURUSD has been held on Monday in a narrow range of 1.1800-1.185 which formed in the last week. Unwinding of long positions in equities backed by algo-driven shorts wasn’t accompanied with USD advance as it happened in the past which indicates, in my view, almost complete lack of fundamental indications for greenback growth. Looking from […]

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SNB scaled back FX intervention as coronavirus fears ebbed, data suggest

© Reuters. FILE PHOTO: The Swiss National Bank (SNB) is pictured in Bern By John Revill ZURICH (Reuters) – The Swiss National Bank remains active in the currency markets to check the appreciation of the safe-haven Swiss franc, albeit less than in previous weeks as coronavirus fears give way to broader market optimism, data on […]

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