The Boris Johnson Effect May be Fading
UK Prime Minister Boris Johnson came into office with hopes that he was going to be the one who would negotiate a Brexit deal, as former UK Prime Minster Teresa May ran into a brick wall. GBP responded favorably, as...
WTI Oil Outlook: Bear – Trendline Capped Recovery Again; US Crude Inventories in Focus for Fresh Signals
WTI oil price eases on Tuesday, after attempts to extend Monday’s 2.15% advance repeatedly failed to clearly break above strong barriers at $56.19 (converged 200/30DMA’s) and $56.33 (bear-trendline off 15 July high at $60.96). Near-term bulls were driven by optimistic...
MARKET WRAP: Stocks Fell, Safe Haven Back In Demand
*Donald Trump may be reversing more tariffs on China but market is still not happy *Italian political turmoil returns for Europe Stocks The S&P 500 Index rolled over today and moved back in negative territory. The index dropped over 0.56%...
Sterling Falls after Brexit Comments from UK and EU, Yen Rises Broadly
Sterling drops broadly today as comments from UK and EU suggested that there is no compromise on Brexit any time soon. Euro is also pressured as German is back pressing -0.7 handle. Yen jumps again and is trading as the...
Former Fed official Kocherlakota agrees with Trump that rates are too high
Former Minneapolis Fed President Narayana Kocherlakota voiced agreement Tuesday with President Donald Trump’s contention that interest rates are too high. While he expressed some reservations about the impact a sitting president’s criticism could have on Fed independence, Kocherlakota said the...
Robert Shiller says the Fed’s rate cut had the opposite intended effect, sparked recession alarm
Nobel-winning economist Robert Shiller is taking issue with the Federal Reserve’s rate cut in July, saying it caused psychological harm to the markets. “I think that there is a problem with cutting rates because it shows a sense of alarm,”...
The Fed will cut rates five more times before April, analysts predict
The U.S. Federal Reserve will cut interest rates five more times by April 2020, according to analysts at Danske Bank. The Fed cut rates by 25 basis points in July, but comments from Chairman Jerome Powell suggesting the cut was...
NZD/USD Pressure By 50– Hour SMA
Downside risks have continued to dominate the New Zealand Dollar against the Japanese Yen. The currency pair has depreciated by 0.45% in value since yesterday’s trading session. As for the near future, the exchange rate will most likely continue its...
Australian Dollar Mildly Higher after RBA Minutes, But No Follow Through Buying Seen
Asian markets opened higher earlier today, following another day of strong rebound in the US overnight. But buying lost momentum entering into European session. Australian Dollar is currently the strongest one for today as RBA minutes indicates the central bank...
RBA Minutes Indicates Data- Dependence in Future Policy. Further Rate Cuts Likely Given Limited Decline in Unemployment Rate
RBA’s minutes for the August meeting indicated that future monetary policy action would be data-dependent. While acknowledging some improvements in the economic developments after the two consecutive rate cuts, spare capacity in the labor market remained significant. The country’s unemployment...