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  • Editor’s Picks / 1 hour ago

    China's not practicing what it preaches

    Bloomberg
    China's leaders may talk tough on instituting painful measures but when push comes to shove, Beijing's tolerance of adversity is proving to be sadly lacking, writes William Pesek. Just two weeks ago, Beijing ordered banks to prop up local-government financing vehicles, the very entities it should be cracking down on, and the People's Bank of China has also this week decided to guide the three-month Shanghai Interbank Offered Rates to its lowest since 2008. Far from addressing China's myriad problems, all such measures do is postpone a coming crisis that, when it does unfold, threatens to destabilise the global economy, all in the name of political expediency on the part of president Xi Jinping.
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  • Squawk / 2 hours ago
    Analyst / First 4 Trading
    United Kingdom
    GBPJPY - With the AB=CD formation and a 161.8% extension level located at 190.41, it would be naive to buy into the current rally in GBPJPY. Short time-frames also highlight a possible Ending Wedge pattern. The medium term bias is bullish but I would only look to buy close to 189.00 on a dip today or 188.00 over the coming week.
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  • Calendar event / 2 hours ago
    Low Market Composite Index
    399.9
    Low Market Composite Index Cur Chg
    -1.6%
    Low Purchase Index (S.A.)
    201.5
    Low Purchase Index (S.A.) Cur Chg
    +1.2%
    Low Refinance Index
    1537.8
    Low Refinance Index Cur Chg
    -3.9%