Stocks and Commodity Currencies Drop as Caution Returns to Wall Street
The best post-Christmas rally is over and most of the gains are already gone. Europe returned to the markets and traded mix. What was discerning for the equity rebound was that it did not take to the news that China...
Your first trade for Thursday, December 27
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Alibaba. Chris Harvey was a buyer of the Real Estate ETF. Gene Munster was a buyer of Apple. Brian Kelly was a...
WTI Crude Oil Futures Bounce Off 1 ½-Year Lows But Still Bearish
WTI crude oil futures (for February delivery) jumped by 9% on Wednesday after extending the steep slippery slope to a 1 ½-year low of 42.53. On Thursday, though, the market resumed its bearish mode, with the technical indicators suggesting that...
Wobbly Canadian Dollar Back above 1.36. US Jobless Claims Within Expectations
USD/CAD has gained ground in the Thursday session. Currently, the pair is trading at 1.3639, up 0.46% on the day. On the release front, the U.S. unemployment claims rose slightly to 216 thousand, just shy of the estimate of 217...
Yen and Swiss Franc Higher as Sentiments Turn Sour Again
While the US markets staged an historic comeback yesterday, sentiments didn’t stay long. After Asian markets turned mixed, European markets are now trading broadly lower. DOW’s over 1000pts rebound yesterday was impressive. But futures suggest that it’s going to give...
Jobless claims signal labor market strength, consumer confidence tumbles
The number of Americans filing applications for jobless benefits fell marginally last week in a sign of labor market strength, with claims appearing to stabilize after drifting higher in recent months. Initial claims for state unemployment benefits dropped 1,000 to...
DAX Slides As U.S Stock Surge Fizzles In Europe
The DAX Index has posted sharp losses in the Thursday session. Currently, the index is at 10,452 down 1.7 percent. There are only a handful of eurozone events this week, with no data indicators on Thursday. The U.S. releases employment...
No Follow Through in Risk Appetite after US Stocks Rebound
US equities staged a impressive rebound overnight and that’s actually the strongest since 2009. DOW closed up 4.98% or 1086.25 pts at 22878.45. S&P 500 rose 4.96% to 2467.70. NASDAQ jumped even more by 5.84% to 6554.36. Reactions in Asia...
EURUSD Looks To Weaken Further With Eyes On 1.1269 Level
EURUSD looks to weaken further with eyes on 1.1269 level. This is coming on the back of its weakness on Wednesday. Support lies at the 1.1300 level where a violation will aim at the 1.1250 level. A break below here...
US tariffs will hit China harder next year, analysts say
The impact of Trump’s tariffs on China’s economy has mostly only been psychological so far in the ongoing trade war, analysts say. That’s may be set to change next year, potentially denting Chinese growth. “With the tariffs we haven’t seen...
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