Day: December 5, 2018
Criminal probe prompts pause in suit claiming J.P. Morgan Chase rigged precious metals markets
A federal judge has put on hold, for at least six months, a civil lawsuit accusing J.P. Morgan Chase of rigging the precious metals market, citing an ongoing related criminal investigation. Judge Paul Engelmayer’s decision came at the request of federal prosecutors in Manhattan, but only after he had repeatedly pushed them to justify the …
Mike Bloomberg says he’d try to sell Bloomberg LP if he becomes president
Mike Bloomberg said Tuesday in a Radio Iowa interview that he will probably try to sell Bloomberg LP if becomes president in 2020. “I think at my age, if selling it is possible, I would do that,” Bloomberg said. “At some point, you’re going to die anyway, so you want to do it before then.” …
Mike Bloomberg says he’d try to sell Bloomberg LP if he becomes presidentRead More
‘Trumponomics’ writer Art Laffer: I am a ‘huge fan’ of Fed chief Powell’s handling of interest rates
Federal Reserve Chairman Jerome Powell, often criticized for increasing interest rates by President Donald Trump, has been effective at the helm of the nation’s central bank, conservative economist Art Laffer told CNBC on Wednesday. “I’m a huge fan of Powell’s,” said Laffer, formerly an economic advisor to presidents Trump and Ronald Reagan. “I think he’s …
USD/CAD – Over 100-Pips Rally on Unchanged BoC, Cracked Key Barrier
The pair surged nearly hundred pips to new over sixteen months high after The Bank of Canada left interest rates unchanged in expected action on today’s rate decision meeting.The central bank warned that Canadian economy has less momentum in Q4 and that overall inflation rate would ease more than expected in coming months. Regarding the …
USD/CAD – Over 100-Pips Rally on Unchanged BoC, Cracked Key BarrierRead More
BoC: A Hold, Probably a Pause
The Bank of Canada kept its overnight rate unchanged at 1.75% this morning. The decision met both market and economists’ expectations. The statement released alongside the decision struck a dovish note. One of the biggest stories since the Bank’s October rate hike is the pricing challenges facing Western Canadian oil producers, and the recent announcement …
Japanese Yen Retracts, Household Spending Next
The Japanese yen has lost ground in the Wednesday session. In North American trade, USD/JPY is trading at 113.15, up 0.33% on the day. There are no data indicators in Japan or the United States. On Thursday, the focus will be on employment data will be in focus, with the release of ADP nonfarm payrolls …
US 100 Index Pares Losses Below SMAs Bearish Cross
New The US 100 index edged aggressively lower in Tuesday’s session as the bears continue to pull the price below the 50- and 200-simple moving averages (SMAs) and the 38.2% Fibonacci retracement level of the upleg from 6160 to 7700, around 7100. Today, the price is paring some losses and momentum indicators point slightly to …
Sterling Rebounds on Brexit Rethinks and Technical Support
Sterling stages a broad based rebound today despite poor PMI services data. The Pound is partly helped by technical support from GBP/USD (at 1.2661) and EUR/GBP (at 0.8939). Additionally, traders are probably reassessing Brexit scenarios. A tricky point is on what would Common’s rejection of Prime Minister Theresa May’s Brexit deal lead to. One far …
Sterling Rebounds on Brexit Rethinks and Technical SupportRead More
CAD/CHF 4H Chart: Testing Support Level At 0.7520
Following a reversal from the upper boundary of a medium-term ascending channel at 0.7689, The Canadian Dollar has declined massively against the Swiss Franc. The exchange rate is currently testing a support level formed by a traditional weekly pivot point at 0.7520. If the currency exchange rate passes the support level, it could aim for …
USD/CHF 4H Chart: Stranded Between SMAs
The bearish momentum which has been dominating the USD/CHF currency pair since the middle of November has guided the US Dollar toward the lower boundary of a long-term ascending channel pattern at 0.9889. The exchange rate was stranded between SMAs during the first part of Wednesday’s trading session. The 50-hour simple moving average was providing …
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Finance news
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