The dollar is at its most oversold level in over 40 years, investment bank Morgan Stanley said on Friday, adding it had now shifted from its dollar-bearish stance and turned"tactically neutral" on the U.S. currency.
FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/IllustrationREUTERS: The dollar is at its most oversold level in over 40 years, investment bank Morgan Stanley said on Friday, adding it had now shifted from its dollar-bearish stance and turned"tactically neutral" on the U.S. currency.
The bank has exited its short position on the dollar index which measures its value against a basket of currencies, while also closing long positions on the euro and Australian dollar versus the greenback.It added moreover that risks appeared to be building for the equity rally, following improving company earnings and investment inflows in the past fortnight.
A sentiment gauge called the Combined Market Timing Indicator was now giving a 'sell' signal for the first time since January 2018, Morgan Stanley said. "With global markets appearing tactically stretched a sell signal on our MTI would certainly add to the notion that upside on markets may be capped near term," it told clients in a note.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OCBC Q2 profit slumps 40%, hurt by loan-loss provisionsSINGAPORE: Singapore's second-largest lender Oversea-Chinese Banking Corp reported a larger-than-expected 40% tumble in quarterly net profit on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
UOB Q2 profit down 40%; dividend per share at 39 cents with scrip scheme appliedSINGAPORE - UOB on Thursday (Aug 6) posted a 40 per cent drop in second-quarter net profit, hurt by weaker income and a surge in provisions.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
OCBC takes knife to offshore support sector exposure; Q2 profit down 40%OCBC's Q2 net profit fell by a larger-than-expected 40 per cent after it took S$350 million in provisions to write down the carrying value of the existing offshore support vessels (OSVs) that back corresponding impaired loans - a move that has crunched down its exposure to the offshore support sector. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
OCBC Q2 profit falls 40% on surging loan-loss provisions; first-half dividend at 15.9 centsSINGAPORE (BLOOMBERG, REUTERS) - Singapore's second-largest lender Oversea-Chinese Banking Corp reported a larger-than-expected 40 per cent fall in second-quarter net profit on Friday (Aug 7), as provisions for loan losses soared and lending income shrank during the Covid-19 pandemic.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
UOB's Q2 net profit down 40% on weaker income and higher provisions; DPS at 39 cents with scrip scheme appliedUOB on Thursday posted a 40 per cent drop in second-quarter net profit, hurt by weaker income and a surge in provisions. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Singer Will Pan, who turned 40 this week, did not reply to online birthday wishes after recent bad publicitySinger Will Pan turned 40 on Thursday (Aug 6), but he might not be in the mood to celebrate given the negative publicity following the news of his marriage.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »