Day: February 28, 2019
British Pound Rally Takes Pause as US GDP Beats Expectations
GBP/USD has paused on Thursday, after recording gains throughout the week. In the North American session, the pair is trading at 1.3296, down 0.10% on the day. In economic news, there are no major British events. In the U.S., Advance GDP expanded 2.6% in the fourth quarter, above the estimate of 2.2%. Chicago PMI is …
British Pound Rally Takes Pause as US GDP Beats ExpectationsRead More
Brexit Risks Ahead
Risk appetite is again on the back burner after President Trump and N. Korea’s Kim failed to make any agreement at the Hanoi summit – the meet was cut short by Trump. Cautious market sentiment is also being aided by uncertainty over the progress in Sion-U.S trade talks. U.S Trade Representative Lighthizer’s guarded comments this …
Larry Kudlow says US-China trade deal talks made ‘fantastic’ progress last week
National Economic Council Director Larry Kudlow said Thursday that trade talks between the U.S. and China are going great, noting the two countries are making “fantastic” progress in meetings last week. “Last week was fantastic,” Kudlow told CNBC’s “Squawk on the Street.” “We’re making great headway on nontariff barriers and tariffs regarding various commodities such …
Larry Kudlow says US-China trade deal talks made ‘fantastic’ progress last weekRead More
Your first trade for Thursday, February 28
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of British Petroleum. Tim Seymour was a buyer of United Continental. Steve Grasso was a buyer of Norwegian Cruise Line. Guy Adami was a buyer of Exxon Mobil. Trader disclosure: Pete is long calls ARRY, BSX, BP, COTY, …
Dollar Surges as US Q4 GDP Grew 2.6%, Eyes on Treasury Yields for More Strength
Dollar regains some ground in early US session after stronger than expected Q4 GDP report. But at the time of writing, it’s still trailing behind Euro and Swiss Franc. The common currency is boosted up by strong rally in German 10-year yield, which is up 0.028 at 0.178. Swiss Franc, on the other hand, strengthens …
Dollar Surges as US Q4 GDP Grew 2.6%, Eyes on Treasury Yields for More StrengthRead More
Debt: Can we skip ahead with Venezuela?
Mexico blew up the LDC crisis in 1982 but the Brady Plan wasn’t introduced until 1989. The 1980s were a lost decade for most of Latin America as debt negotiations advanced slowly, stalled, and broke down. The same dynamics have affected many other defaulting nations. Even with EU support the Greek debt crisis has been …
GBP/JPY 4H Chart: Breakout Occurs
Upside risks dominated the British Pound versus the Japanese Yen during the past week. The currency pair appreciated about 2.89% during last week’s trading session. A breakout occurred through the upper boundary of a dominant descending channel at 147.00 at the end of Wednesday’s trading session. Given that a breakout had occurred, it is likely …
AUD/JPY 4H Chart: Tests Weekly PP At 79.03
During the last week, the Australian Dollar appreciated about 1.82% against the Japanese Yen. This surge was stopped by a resistance level set by the weekly R1 at 79.72. The exchange rate tested the lower band of an ascending channel during the morning hours of Thursday’s trading session. If a support level formed by the …
AUD/USD Likely To Trade Sideways
The Australian Dollar depreciated about 71 base points against the US Dollar on Wednesday. The decline was stopped by a support level formed by the weekly PP at 0.7135 during the previous trading session. The currency pair was stranded between the 200-hour simple moving average at 0.7145 and the weekly pivot point at 0.7135 during …
Unexpected Ending To Trump-Kim Summit Rattles Investor Confidence
A negative vibe swept across financial markets this morning after the US-North Korea summit ended abruptly and with no agreement reached. With US President Donald Trump stating that the US is unwilling to lift sanctions and North Korea “unprepared” to meet his demands, the chances of a breakthrough deal happening anytime soon are unlikely. However, …
Unexpected Ending To Trump-Kim Summit Rattles Investor ConfidenceRead More
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Finance news
 CEO outlook dims sharply, with more than half expecting a recession ahead, survey showsCorporate executives are taking a dim view of their prospects, with a majority now expecting ... Read More  Stock futures are little changed ahead of key inflation readingStock futures were little changed in overnight trading Tuesday ahead of a key inflation reading.Futures ... Read More  From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting businessFactories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site ... Read More |
