US 30 Index Improves Above MA’s and Ichimoku Cloud
US 30 stock index (Cash) is preserving its recent positive sentiment despite a pullback from the 27,178 level. The climb in the index is aided by the upward sloping simple moving averages (SMAs). Furthermore, the intact positive charge of the...
USD/CAD Yawns Despite Strong Data in Canada, US
USD/CAD has recorded slight gains on Thursday, after posting strong losses on Wednesday. Currently, the pair is trading quietly at 1.3534, up 0.19% on the day. On the fundamental front, there were strong numbers on both sides of the border....
Homebuilder sentiment jumps back to pre-coronavirus pandemic high
To find a V-shaped recovery from the economic wreckage of the coronavirus pandemic, look to the nation’s single-family homebuilders. Homebuilder sentiment jumped 14 points to 72 in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index....
Weekly jobless claims rise by more than 1 million for 17th straight week
The number of Americans who filed for unemployment benefits rose more than expected last week as the country continues to grapple with the economic impacts of the coronavirus pandemic. Initial weekly jobless claims came in at 1.3 million for the...
Dollar Firms Up as Chinese Stocks Drag Others Lower, Euro Firm after ECB
The sharp reversal in Chinese stocks is somewhat weighing on global sentiments today. European indices are generally in red while US stocks also open mildly lower. Dollar firms up mildly but upside momentum is unclear for now. Euro is also...
U.S. retail sales pop more-than-expected in June
U.S. retail sales increased more than expected in June, but the budding economic recovery is being threatened by a resurgence in new Covid-19 infections and high unemployment. The Commerce Department said on Thursday retail sales rose 7.5% last month. That...
EUR/USD Analysis: Reversed South
On Wednesday, the EUR/USD currency pair tested the Fibo 50.00% at 1.1454. During today’s morning, the pair resumed to trade within the short-term ascending channel. From a theoretical point of view, it is likely that some downside potential could prevail...
Markets Down On Chinese Data, Double Top For SP500
Hang Seng lost 2.2% this morning, while the FTSE China A50 sank 3.3%. China’s economy showed higher growth than expected in the second quarter, but it failed to bring optimism to the markets. Pessimism around China is pushing down the...
Dollar Trying to Recovery as Asia Turned Risk-Off, ECB Awaited
Dollar is trying to recover today as Asian markets turned into risk-off. Better than expected Q2 GDP data from China is largely ignored. Instead, Chinese stock lead Asia lower on concern of escalating geopolitical tension in South China Sea. Sterling...
BOC Pledges to Continue with Easing Until Inflation Returned to +2% Sustainably.
As widely anticipated, BOC maintained both the policy rate and all the asset purchases programs unchanged at the July meeting. While acknowledged positive economic developments since the last meeting, policymakers cautioned that the economy’s recuperation will be slow and pledged...