White House advisor Larry Kudlow says taxing rich people never works: ‘Look at Venezuela’
White House economic advisor Larry Kudlow implied Friday that Democratic proposals to increase taxes on the wealthiest Americans could lead to economic troubles akin to those in Venezuela. “Taxing rich people – that’s an old saw from the left. It...
Dollar Dips on Weak Wage Growth, Rise in Unemployment Rate
Dollar is back under some pressure in early despite very strong headline NFP number. The problem with the report is that, other parts are rather weak, including revision in prior month’s figure, rise in unemployment rate. More importantly, wage growth...
US 30 Index Clears 200-Day SMA, Seems Positive in Immediate Term
The US 30 index has continued to recover in recent sessions, managing to close above its 200-day simple moving average (SMA) on January 31. Combined with the fact that recent price action consists of higher highs and higher lows, the...
Brent Crude Oil Futures Trade Sideways in Near Term; Hold in Tight Bollinger Band
Brent crude oil futures have been moving sideways within the Bollinger bands over the last three weeks, failing to create a significant movement. The RSI indicator suggests that the market might improve in the coming sessions as it is pointing...
USDZAR Remains Negative, May Post “Death Cross” Soon
USDZAR has continued to print lower highs and lower lows on the daily chart, keeping the medium-term picture decisively negative. Enhancing this view, price action is taking place firmly below both the 50- and 200-day simple moving averages (SMAs). Notice...
GBP/USD Faces Corrective Weakness On Price Rejection
GBPUSD faces correction weakness on price rejection following its flat close on Thursday. Support is seen at 1.3000 level. Further down, support comes in at the 1.2950 level where a break will turn focus to the 1.2900 level. Further down,...
USD/JPY Outlook: Tight Ranges Ahead US NFP, Little Impact From Renewed Risk Aversion
The pair holds within tight consolidation and awaiting US jobs data for fresh signals after pullback from 110 resistance zone showed initial signs of stall. Thursday’s strong downside rejection left daily hammer, suggesting that easing might be over. Rising bullish...
EUR/USD Might Surge To R2 At 1.1500
During Thursday’s trading session, the currency exchange rate depreciated to 1.1440, passing through the support levels of the 55-hour simple moving average and the 50.00% Fibo. On Friday, the rate was located above the 50.00% Fibonacci retracement level at the...
GBP/USD Aims To Break PP At 1.3084
During Friday’s morning hours, the British Pound passed through the support levels of the 55-hour and the 200-hour simple moving averages to trade at the 1.3047 mark. In regards to the near-term future, most likely, the rate will be resisted...
USD/JPY Could Trade At 108.40
During Thursday’s trading session, the rate depreciated to 108.40, as it was expected. On Friday morning, the US Dollar appreciated against the Japanese Yen to the 108.93 mark. Most likely, the US Dollar will depreciate against the Japanese Yen to...
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