This week Wall Street banks published their quarterly results. However, investors’ concerns about lending have not alleviated yet.
Trading revenue surged to 29% and on the other hand, it should be noted that interest rates hit lending income.
The man benefactors were Goldman Sachs and Morgan Stanley because of the fact that they do not have the lending operations.
The hype about trading revenue has diminished significantly since the 2009 financial crisis. Right now, trading businesses tend to move in line with market trends. According to T1Markets review here the events which are surrounding the elections in the United States currently have a major impact on trading as well as on the USD as they’re marked the most important signal for any FX trader.
Volatility to last into next year
According to various predictions and the most recent EUR/USD chart, volatility is anticipated to last into next year as well. Pandemic, as well as November elections which will decide a lot of things in the country, are also major events causing disruption in the United States’ political field.
However, it is also expected that recession and economic backsliding will not last permanently and sooner or later banks will continue to increase in profits. According to senior analyst, Shane Swanson volatility will continue through the election cycle. Still, there is so much uncertainty that experts are unable to predict currently.
No one could give an exact answer when the pandemic will end the world. The coronavirus has had a devastating impact on the world, primarily, on the United States. This is the country which has recorded the most cases and number of deaths in the world and there is no sign of slowing down. We should hope that everything will get back to normal soon and we will revert to our usual lifestyle, as it was before the pandemic.