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  • South Africa’s rand leads EMEA FX losses ahead of data-heavy week
    by Reuters on August 3, 2020 at 8:51 am

    Emerging market currencies retreated on Monday as rising coronavirus cases and concerns over the U.S. economy weighed on investor sentiment, while most stocks inched higher. South Africa’s rand was among the worst performing currencies in Europe, Africa and the Middle East, hurt by increased safe-haven demand as concerns arose over a slowing U.S. economic recovery

  • HSBC profit plunge hits FTSE 100, offsets bounce in factory activity
    by Reuters on August 3, 2020 at 8:49 am

    A slide in HSBC shares sent the FTSE 100 to its lowest since mid-May on Monday, with investors also looking past a jump in domestic factory activity as COVID-19 cases surged. HSBC fell 4% to the bottom of the FTSE 100 as the health crisis hammered its retail and corporate customers worldwide. The export-laden FTSE

  • Buy, sell, repeat! No room for ‘hold’ in whipsawing markets
    by Reuters on August 3, 2020 at 8:49 am

    LONDON — Warren Buffett’s favorite holding period — forever — has few fans these days, with the average length of time shares spend in a portfolio hitting record lows this year as investors surf wild market swings for quick gains. The length of time that investors hold shares has been shrinking for decades but the

  • Hong Kong reports 80 new coronavirus cases, slight drop from previous highs
    by Reuters on August 3, 2020 at 8:48 am

    HONG KONG — Hong Kong reported 80 new coronavirus cases on Monday, dropping below 100 infections for the first time in 12 days, as a team of Chinese officials began preparations for widespread testing in the global financial hub, which has seen a resurgence in cases. The initiative, which was announced by the Chinese government,

  • U.S. gridlock over stimulus keeps stocks muted, dollar edges higher
    by Reuters on August 3, 2020 at 8:48 am

    LONDON — World stocks began August cautiously as U.S. lawmakers struggled to agree a new stimulus plan following a global surge of COVID-19 cases, though a squeeze on crowded short positions left the dollar clinging to a tentative bounce. European stocks opened slightly higher on Monday following mixed moves in Asia. The pan-European STOXX 600