UK’s Sunak says public finances won’t be fixed overnight

© Reuters. FILE PHOTO: Britain’s Chancellor of the Exchequer Sunak outside Downing Street, in London LONDON (Reuters) – British finance minister Rishi Sunak said he would not try to fix the public finances overnight, days before he announces a budget plan that is expected to pile more borrowing on top of nearly 300 billion pounds […]

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NZD/USD extends modest rebound from overnight trading, what’s next?

The kiwi advances further in European morning trade today For bank trade ideas, check out eFX Plus NZD/USD is pushing higher on the day towards 0.6600 currently, following a modest rebound in North American trading from a low of 0.6512 to close at 0.6546. The bounce comes after price action moved close to testing the […]

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Overnight news ICYMI: Gilead plans to produce two million remdesivir coronavirus course by the end of 2020

Gilead Sciences planning to produce the amount of its potential COVID-19 drug remdesivir by the end of the year  It says it’ll begin trial of an easier-to-use inhaled version in August (its currently administered intravenously) inhaled formulation would be via a nebulizer, whoich would make its use easier outside of in-patient at hospital This was […]

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Overnight piece on China to limit coal imports (note that this was news from last week)

The financial Times had the report: that China is expected to promote the use of domestic coal by tightening import rules (Link, FT may be gated)  Anyway, the FT reporting on it now: “I think they will more actively promote use of domestic coal, at least through elevated customs checks if not outright action,” said Colin […]

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PBOC sets yuan parity at 6.8633 vs dollar, HK overnight rate surges

Yuan parity Investing.com – The People’s Bank of China set the yuan mid-point at 6.8633 against the dollar on Wednesday, after a two-day holiday, compared to the previous close of 6.8525. Hong Kong’s overnight yuan borrowing rate jumped to the highest point in nearly five months in the trading day, with the Interbank Offered Rate […]

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