-0.13% from
1.73% (1.76%).
AUD/USD – The Aussie Battler slumped to 0.7730 at the close of New York trade, down 0.66% from Friday’s opening at 0.7772. The failure of the Australian Dollar to trade comfortably above strong upward resistance at 0.78 cents last week as well as overall USD strength pressurised the currency. The fall in Australia’s Composite Index offset the strong rise in Retail Sales driving the Battler to the lower end of its trading range.
EUR/USD – Speculative long Euro bets headed for cover following the contrast between the US (upbeat) and Eurozone (mixed) PMI reports. Germany’s Manufacturing PMI report underwhelmed with a 64.0 print, from a previous 66.2. The shared currency reversed lower after hitting an overnight peak at 1.2240, to 1.2180 at the New York close. Overall US Dollar strength is weakening the upside momentum in the Euro.
LONDON MARKET MIDDAY: FTSE 100 advances in subdued session; pound lags
Mon, 24th May 2021 12:06
(Alliance News) -Â Stocks in London continued to trade modestly higher on Monday in a muted session with a handful of European markets shut.
The FTSE 100 index was up 20.96 points, or 0.3%, at 7,039.01 at midday on Monday. The mid-cap FTSE 250 index was up 31.30 points, or 0.1%, at 22,430.72. The AIM All-Share index was up 0.2% at 1,251.68.
The Cboe UK 100 index was up 0.3% at 701.74. The Cboe 250 was up 0.1% at 20,167.59, and the Cboe Small Companies up 0.1% at 14,884.47.
The trade was subdued in London on Monday with some European markets, such as in Germany and Switzerland, closed. Paris was open, however, and the CAC 40 was up 0.1% in early afternoon trade.
Libor Replacements Multiply in Shift That Could Fracture Markets Nowhere is the race to succeed Libor more up in the air than in the multitrillion-dollar syndicated lending markets. Bloomberg | May 24, 2021
(Bloomberg) A slew of newer and lesser known reference rates are staking their claim to a share of the post-Libor landscape as the outlook for the space grows increasingly fractured.
Once largely considered afterthoughts in the race to replace the London interbank offered rate, a clutch of upstart challengers, from Ameribor and BSBY to ICE’s Bank Yield Index, have been gaining traction, or at least garnering more attention, in recent weeks. Their ascent comes as borrowers and bankers increasingly question whether the Federal Reserve’s long-preferred replacement, the Secured Overnight Financing Rate, is the best option for the multitude of markets that must ditch scandal-tainted Libor by year-end.
LONDON MARKET CLOSE: Stocks edge higher as inflation fears ease
Mon, 24th May 2021 17:11
(Alliance News) - Stocks in London ended higher on Monday with investors cautiously optimistic in the face of rising inflation worries.
The FTSE 100 index closed up 33.54 points, or 0.5%, at 7,051.59. The mid-cap FTSE 250 index ended up 84.31 points, or 0.4%, at 22,483.73. The AIM All-Share index closed flat at 1,249.55.
The Cboe UK 100 index closed up 0.5% at 703.3. The Cboe 250 ended 0.4% higher at 20,231.70. The Cboe Small Companies gained 0.1% at 14,880.30.
In Paris the CAC 40 ended up 0.4%. Financial markets in Frankfurt were closed for a holiday. Stocks have resumed their march higher it seems, adding to the gains made in the second half of last week as inflation concerns appear to recede. Risk assets are moving higher on a broad front, with almost all major indices in positive territory and oil prices marching upwards as well. After the initial fears about inflation and a complacen
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