GBP/USD Testing Key 1.2950 Support Zone Of Triangle
The GBP/USD breakout below the 100% Fibonacci level and bottom of wave A (green) invalidates (red x) the expected triangle chart pattern and could indicate a bearish ABC zigzag pattern. A bullish bounce, however, could confirm (green check) the triangle...
Sentiments Lifted as US Scrapped China’s Currency Manipulator Label
Yen weakens broadly today as markets are generally in risk on mode. US stocks rose broadly overnight with S&P 500 and NASDAQ closing at record highs. Sentiments were lifted as US scrapped labeling of China as currency manipulator, just ahead...
The Fed could cut interest rates 3 times this year, UBS predicts
The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. Jabin Botsford | The Washington Post | Getty Images Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a...
Exclusive: Credit Suisse hires CMB’s Wang Jing in proof of China private banking ambitions
Credit Suisse has hired Wang Jing as its head of mainland China private banking (PB) operations, as it accelerates plans to become the leading foreign provider of high-end wealth management services to customers in Asia’s largest economy. Previously head of...
US budget deficit topped $1 trillion in 2019 for the first time in seven years
The U.S. fiscal deficit topped $1 trillion in 2019, the first time it has passed that level in a calendar year since 2012, according to Treasury Department figures released Monday. The budget shortfall hit $1.02 trillion for the January-to-December period,...
US Inflation and Retail Sales Data to Drive Dollar
It might be an interesting week for the greenback, with the latest CPI inflation numbers hitting the markets on Tuesday at 13:30 GMT, ahead of retail sales figures on Thursday. Overall, these are likely to confirm the American economy remains...
Goldman Sachs, the 150-year-old investment bank, is staking its future on a mobile app
A woman looks at Marcus, a new savings and loans app recently launched by Goldman Sachs in New York, January 10, 2020. Mike Segar | Reuters When Goldman Sachs released a long-awaited app for customers of it Marcus consumer bank...
EURCHF Bears Face Big Challenge Around 32-Month Low
EURCHF found some footing around the 32-month low of 1.0780 last week and returned inside the trading range from 1.0810 to 1.1055. The MACD seems to be losing momentum below its red trigger line, the RSI is still hovering around its 30 oversold mark...
Sterling Dives after Poor GDP, Yen Lower on Rising Yields
Sterling is sold off broadly today as poor GDP data added to the case of BoE rate cut. Recent comments from BoE officials already suggested that they’re open to easing if data don’t show improvement. The Pound will face more...
Market Brief: Double Whammy for Pound
Market update at 12:20 GMT: In FX GBP was by far the weakest, with EUR and USD the strongest among the majors; stocks were off their best levels, and key commodities were lower. GBP, already downbeat by news BoE’s Vlieghe...
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