The United States will formulate policies to retaliate against the EU
It is understood that the United States is preparing to recruit European aircraft manufacturers. The United States has always accused the European Union of subsidizing its aircraft manufacturers behind it, making it unfair to American aircraft. The US Trade Representative Office is working on a list of US$3.1 billion worth of goods from Europe ready to levy heavy tariffs in retaliation, including commodities including different alcohols and black olives. The above concerns are putting pressure on the Euro exchange rate.
The Fed announced that it would ban banks from paying dividends and buying back shares
Last night, the Fed announced that it would prohibit large local banks from paying dividends and repurchasing shares until the fourth quarter of this year. The Fed explained that during the testing of large banks, it was found that many banks were affected by the epidemic and their bad debts increased significantly. Among the 34 tested banks, their total bad debts reached as high as US$700 billion, so the above decision was made. Since the above news was announced after the US stocks closed, it did not affect the performance of US stocks last night, but it is believed that it will put pressure on US bank stock prices today.
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/