Sterling Softens after BoE, Yen Surges Through Key Resistance
Sterling weakens broadly today and remains the worst performing one for the week. BoE rate decision provided little inspiration while growth forecasts are notably lowered in the Inflation Report. Euro is the second weakest one on expectation of ECB easing...
Harami Candlestick Patterns: A Trader’s Guide
Trading with the Harami Candle: Main Talking Points The Harami candlestick pattern is frequently used in forex trading to identify trend reversals or extensions. Technical traders respect the indications produced by the Harami candle which makes this pattern invaluable in...
Goldman Sachs: One more rate cut and then the Fed is done
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, July 31, 2019. Andrew Harrer | Bloomberg | Getty Images After one more interest...
US weekly jobless claims rise moderately
The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions. Initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 215,000 for the week...
Economists who predicted the Fed rate cut are now utterly confused about what’s next
Major Wall Street economists were largely in agreement that the Federal Reserve would cut rates by a quarter point heading into this week’s policy meeting. But after a confusing news conference by Fed Chairman Jerome Powell, their forecasts for future...
USDJPY Breakout Underway
The US dollar has broken to the upside against the Japanese yen currency, following a strong bid in the greenback after the FOMC rate decision. The USDJPY pair is increasingly likely to target the 110.00 level now that the 109.00...
BoE Instant Reaction: Muted
So, the BoE left rates and QE unchanged as widely expected, an in a unanimous vote. In the Quarterly Inflation Report, the Bank has made changes to inflation and growth forecasts, raising the former and lowering the latter. The fact...
Sideways: Some Deutsche Bank veterans are doing fine
On the same day as Deutsche announced a hefty quarterly loss of €3.1 billion, former employee Sajid Javid was promoted to Chancellor of the Exchequer in the UK The lesson for the 18,000 Deutsche staff who are expected to lose...
Euromoney FX: 40 and fabulous
By Kevin Rodgers 1970s It is February 1979. Liverpool’s grave diggers are on strike and refusing to bury the dead; Trevor Francis, the very first £1 million footballer, is being sold on the transfer market; the elections of Margaret Thatcher...
Dollar Powered Up by Fed Powell, Broke Key Resistance Against Euro
Dollar was shot up overnight as Fed’s rate cut was, overall, less dovish as expected. At least, Chair Jerome Powell clearly indicated that it’s not the start of a lengthy easing cycle. The greenback remains firm in Asian session, together...
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