Asian Markets Stabilized as China Pledges Countercyclical Measures, Yen Continues to Pare Gains
Despite the deep selloff in US stocks overnight, Asian markets are rather calm. Sentiments are somewhat lifted as China pledged to provide more stimulus, in particular to private and small companies. At the time of writing, Yen is trading as...
USD/JPY Tumbles, Recovery Remains Limited
Key Highlights The US Dollar declined more than 500 pips from the 111.40 high against the Japanese Yen. There is a major bearish trend line formed with resistance at 109.60 on the 4-hours chart of USD/JPY. The US ADP Employment...
Pressure Grows For US And China To Resolve Trade Dispute
The strong fundamentals of the US economy are starting to show more than a chink in it’s armor, while the PBOC’s recent efforts have done little to stem the recent slump in Chinese data. The US continues to post robust...
Dollar Looks To NFP For Fundamental Strength
The US dollar is mixed against major pairs on Thursday. The Flash crash that hit the currency markets boosted the JPY and the CAD against the USD. The greenback is higher against all other majors ahead of the release of...
Banks are cutting back on credit-card rewards programs, WSJ reports
Large financial institutions including JP Morgan Chase & Co, Citigroup Inc , and American Express Co are cutting back or altering some of the rewards plans that their credit card businesses offer borrowers, the Wall Street Journal reported on Tuesday....
The president of the Dallas Fed says central bank should pause rate hikes amid turmoil in markets
The Federal Reserve ought to stop raising interest rates until it gets a clearer picture of where the economy is headed, Robert Kaplan, president of the central bank’s Dallas district, said in an interview Thursday. Slowing global growth, weakness in...
DAX Slides as Apple Warning Spooks Investors
The DAX has posted sharp losses in the Thursday session, wiping out the gains seen on Wednesday. Currently, the index is at 10,437, down 1.35% since the Wednesday close. On the release front, eurozone monetary data was within expectations. On...
FX: The complexities of commodity-linked currencies
Higher commodity prices are generally good news for the likes of the Canadian dollar, Russian rouble and Australian dollar, but other factors – most notably central bank monetary policy – have weighed on the strength of these currencies during the...
Apple Cutting Revenue Guidance Fuels Risk Off Sentiment
Extreme market turbulence that ruled at the end of 2018 and most notably in December looks set to stay for another session. Whilst weakness in Chinese manufacturing was to blame in the previous session, Apple cutting its guidance has hit...
Crude Oil Looks To Recover Further Higher
CRUDE OIL looks to recover further higher on corrective upside pressure. Support lies at the 46.50 level where a break will expose the 46.00 level. A cut through here will set the stage for a run at the 45.50 level....
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