The economy is slowing, but not as bad as Wednesday’s private payrolls report suggests
ADP’s shockingly bad payroll data released on Wednesday may be overstated. Economists say ADP’s monthly report does not always line up with the government jobs report, and so far they have not pared back expectations for Friday’s government nonfarm payrolls...
Spot Gold Spikes to 3-Mth High on Risk Aversion and Signals of Fed Rate Cut
Spot gold spiked to three-month high at $1344 on Wednesday, extending strong rally from last Thursday’s low at $1275 and approaching key short-term barrier at $1346 (2019 high, posted on 20 Feb). Fresh advance is on track to fully retrace...
Elliott Wave Analysis: Weakness on Gold Around The Corner!
GOLD is trading higher, now unfolding final stages of a wave five as part of a higher degree wave iii of a bigger bullish cycle. We labelled possible turning point regions for the metal, which are at 1345/1351 area, where...
USD/CAD Outlook: Loonie Advances Further on Dovish Fed and Downbeat US ADP Jobs Data
The pair holds firmly in red and extends weakness for the third straight day, to crack pivotal Fibo barrier at 1.3375 (38.2% of 1.3068/1.3564) on Wednesday. The greenback fell across the board on dovish steer from Fed and was additionally...
Navarro says Trump’s new tariffs ‘may not have to go into effect’ depending on US-Mexico talks
White House trade advisor Peter Navarro said that President Donald Trump’s new tariffs on Mexico “may not have to go into effect,” depending on the outcome of talks between U.S. and Mexican officials. Navarro, a hard-line supporter of Trump’s tariffs,...
Dollar Selloff Extends on Poor ADP Job, Yields Dive Again
Dollar suffers another round off selloff after terribly poor ADP job data, which showed only 27k growth in May. 10-year yield also takes a steep dive breaching Monday’s low at 2.081. Gold breaks 1344 and is on track to take...
Job growth screeches to a near halt in May, with private payrolls up just 27,000
Job creation skidded to a near-halt in May in another sign that the U.S. economic momentum is slowing. Companies added just 27,000 new positions during the month, according to a report Wednesday from payroll processing firm ADP and Moody’s Analytics...
Why Trump’s pivot to using tariffs as a political weapon is so dangerous for the economy
President Donald Trump delivers remarks in the Roosevelt Room at the White House in Washington, May 9, 2019 Jonathan Ernst | Reuters President Donald Trump prides himself on bold negotiating tactics, but his threat to slap tariffs on Mexico for...
Trade tensions have had a ‘significant’ impact on China, IMF says
Containers are stacked on a vessel at the Port of Long Beach in Long Beach, California on July 6, 2018, including some from China Shipping, a conglomerate under the direct administration of China’s State Council. Frederic J. Brown | AFP...
Gold Spot The Bias Remains Bullish
Pivot (invalidation): 1320.00 Our preference Long positions above 1320.00 with targets at 1329.00 & 1335.00 in extension. Alternative scenario Below 1320.00 look for further downside with 1316.00 & 1312.50 as targets. – advertisement – Comment The RSI is above its...