Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
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 market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.