USD/CAD witnessed a modest intraday pullback from one-week tops amid a subdued USD demand. A softer tone around crude oil prices undermined the loonie and
ASX Today: Subdued start as US holiday weighs
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Shares looked set to open little changed as inflation concerns continued to die down, boosting Wall Street.
ASX futures advanced three points or 0.04 per cent as US stocks closed modestly higher on diminished volume ahead of the Memorial Day long weekend. The S&P/ASX 200 fell 23 points yesterday to its first loss in five sessions.
Overnight, gold settled above US$1,900. Copper was boosted by a strike in Chile. Oil inched higher. Iron ore was unchanged.
Wall Street
Reopening stocks led the advance as US stocks continued to heal from their latest inflation tantrum. The
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The Great Recession and the Dodd-Frank Act led to increased regulatory controls on banks. Banks have performed with strength during the early days of the COVID-19 crisis, a testament to the success of the protections imposed by the Dodd-Frank Act and the regulatory framework that emerged from the recession, as well as the overall focus of regulators on bank regulation and supervision.
To a certain extent, some of those regulatory limitations, combined with the rise of fintech companies and the growing acceptance by consumers of digital banking, have paved the way for alternative offerings from unregulated nonbank financial institutions, and continued disintermediation in banking. The COVID-19 crisis has only accelerated this trend.
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