The market takes breath after the long rally. What opportunities do traders have today?
Resolution scheme of Banco Popular is officially approved by European Commission
The European Commission has officially approved a resolution scheme of Spain's Banco Popular Espanol built around a proposal prepared by the Single Resolution Board, as the Commission informed in its statement on Wednesday.
The resolution suggests the sale of Banco Popular to Santander. As for the clients of Banco Popular, they’ll continue to be served without disruption, as the Commission told.
The Commission told that all depositors keep having uninterrupted access to the entire amount of their deposits. Apparently, following the resolution decision, the financial institution can continue its regular activities.
As previously reported, the resolution involved no aid from the Single Resolution Fund and also no state aid, and the sale to Santander actually had to do with normal merger as well as regulatory review by the EU's competition authorities.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.