Goldman Sachs, Morgan Stanley must keep capital return plans unchanged after Fed stress test blunder

  • New York-based investment banks were ensnared by the administration’s tax cut, which resulted in a one-time drop to the capital ratios of the firms, according to the Federal Reserve.
  • Of those tested, 15 firms won a clear thumbs up from the Fed and will be allowed to proceed with their planned pay-outs, which could include hikes in dividends and buybacks.
  • But the Fed saved its worst grade for the U.S. division of Deutsche Bank, which the Fed has previously deemed a troubled institution. Read More @ https://www.cnbc.com/2018/06/28/goldman-sachs-morgan-stanley-keep-dividends-andbuybacks-unchanged-af.html

Deutsche Bank flunks Fed stress test; 3 other banks get flagged

Deutsche Bank was the only major financial institution to fail the Federal Reserve’s annual stress text exam, dealing another blow to Germany’s largest lender.

The Fed raised more moderate concerns about Goldman Sachs and Morgan Stanley that will prevent those Wall Street banks from raising their dividends and buying back more of their stock. The stress test also revealed State Street would suffer “large losses” if one of its business partners came under financial pressure. Read More @ http://money.cnn.com/2018/06/28/investing/deutsche-bank-fed-stress-test/index.html?section=money_markets&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_markets+%28CNNMoney%3A+Markets%29

WHAT IS THE USD INDEX SAYING?

USD Slides after a disappointing GDP & Bank Stress Test. The USD stays at triple top and awaiting fresh news – we are expecting a good pullback today.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.

  1. 7.30am – Tokyo CPI – expected to be good. We continue buying JPY.
  2. 9.30am – Australia Private sector credit – Borrowing and spending are positively correlated – consumers and businesses tend to seek credit when they are confident in their future financial position and feel comfortable spending money. Expected to be weak.
  3. 1.00pm – Japan consumer confidence – expected to be good.
  4. 2.00pm – Germany will release their retails sales and import prices – expected to be weak.
  5. 2.45pm – France will release their CPI and Consumer spending – expected to be good.
  6. 3.55pm – Germany will release their unemployment rate and is expected to be good. We buy EURO.
  7. 4.30pm – UK will release their Current Account & GDP and is expected to be good – GBP should have a goo pullback today.
  8. 5.00pm – EURO will release their CPI and is expected to be good. We buy EURO.
  9. 8.30pm – Canada will release their GDP and is expected to be weak. We maintain SELL for CAD.
  10. 8.30pm – US will release personal spending and personal income – expected volatility – USD Pullback is expected.
  11. 10.00pm – US will release their inflation and consumer spending data – Survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions – expected volatility.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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