Vice President Mike Pence backs Trump’s call to lower interest rates, citing low consumer inflation
Vice President Mike Pence said that despite his bullish view of the state of the economy, he backs the president’s calls for further rate cuts from the Federal Reserve. The comments came in response to a question from CNBC’s Joe...
Herman Cain’s Fed board bid is in danger as three GOP senators plan to vote against Trump’s pick
Herman Cain Julie Dermansky | Corbis News | Getty Images Herman Cain’s path to the Federal Reserve Board could get blocked before President Donald Trump even nominates him. At least three GOP senators plan to vote against the former Godfather’s...
British Pound Gains Ground Higher as GDP Matches Forecast
GBP/USD has moved higher in the Wednesday session. In North American trade, GBP/USD is trading at 1.3085, up 0.26% on the day. On the release front, the monthly GDP release posted slight gain of 0.2%, matching the estimate. There was...
Aussie Looks to China’s Inflation and Trade Figures
Chinese inflation and trade data for March will hit the markets early on Thursday and Friday respectively. Expectations are for a rebound in all these figures, something that could allay some concerns around a further slowdown in the world’s second-largest...
Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more
Check out the companies making headlines midday Wednesday: Under Armour — Shares of Under Armour rose more than 2% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with...
Trade war hits Asian FX
By Morgan Davis Big global banks still dominate FX trading in Asia, according to the latest results from the annual survey of the industry carried out by Asiamoney’s sister publication Euromoney. JPMorgan beats Bank of America Merrill Lynch to the...
Euro Pressured after ECB, Yen Rises on Falling Treasury Yields
Euro weakens broadly after ECB kept monetary policies unchanged. While president Mario Draghi delivered not much new in the press conference, he did acknowledged that downside risks are materializing. Recovery in EUR/USD and EUR/JPY now look rather short-lived. Meanwhile, Dollar...
EUR/USD Outlook: Euro Eases on Soft Tone from Draghi, Stronger Dollar after US Inflation Data
The Euro fell over 50 pips after data on Wednesday, pressured by stronger dollar and soft tone from ECB President Draghi in the press conference that followed policy meeting. The European Central Bank left interest rates unchanged, as widely expected,...
Rising gasoline prices and rents boost US consumer prices in March
U.S. consumer prices increased by the most in 14 months in March, but underlying inflation remained benign against the backdrop of slowing domestic and global economic growth. The tame inflation environment and moderating economic activity support the Federal Reserve’s decision...
CADJPY Struggles Around 40-SMA, Flat In Short Term
CADJPY has been finding strong support on the 40-day simple moving average (SMA) since the beginning of this month, creating a narrow sideways move. Regarding to the momentum indicators, the RSI is flattening near the neutral threshold of 50 and...