Getting rid of extended jobless benefits would come with a big economic hit
Cutting unemployment benefits to workers displaced during the pandemic could push people back to their jobs sooner but also take another slice out of an already reeling U.S. economy. Democrats and Republicans are parrying over what to do now that...
EUR/GBP: Fresh Weakness Emerges from Bull-Trap
The cross dips on Tuesday after bulls got trapped above 0.9113 Fibo barrier (76.4% of 0.9175/0.6937), with long upper shadows of several daily candles, signaling stall. Fresh weakness cracked 10DMA (0.9080) and pressure pivotal Fibo support at 0.9067 (38.2% of...
USDJPY Remains Pressured Below Key Resistance
On the U.S. economic data front, the Conference Board’s Consumer Confidence Index declined to 92.6 on month in July (95.0 expected), from a revised 98.3 in June. Wednesday will be a busy day for U.S. Economic data. Here is what...
USD/CAD Rises to 1.34, Federal Reserve on Deck
After starting the week with losses, the Canadian dollar has reversed directions on Tuesday. Currently, the pair is trading at 1.3399, up 0.32% on the day. Does Fed have more easing up its sleeve? The Fed has mobilized to steady...
The Fed is extending its lending programs until the end of the year
The Federal Reserve said Tuesday that it is extending its menu of lending programs to businesses, governments and individuals to the end of 2020. Originally set to expire Sept. 30, the myriad facilities, stretching from credit to small businesses up...
Why unemployment is a broken system: ‘It really is an experiment out of control’
Demonstrators rally near the Capitol Hill residence of Senate Majority Leader Mitch McConnell, R-Ky., to call for the extension of unemployment benefits on Wednesday, July 22, 2020. Tom Williams/CQ-Roll Call, Inc via Getty Images Wage replacement Unemployment benefits offer temporary...
U.S. consumer confidence for July misses expectations
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Home prices rose at a slower rate in May, according to S&P Case-Shiller
Real estate agents leave a home for sale during a broker open house in San Francisco, California. Justin Sullivan | Getty Images Home prices continued to rise in May, albeit at a slightly slower pace than they did in April...
Yen and Franc Rise, Euro and Gold Dip in Consolidative Markets
Yen rises generally today, together with Swiss Franc, in rather subdued consolidative markets. Stocks are trading mildly lower but there is hardly any following selloff for now. Much volatility is seen in Gold and Silver, while retreat notably after initial...
Gold And Silver Shake Up Markets
Oil remains in the vice of opposing forces Opposing forces continue to squash volatility in energy contracts, leaving both Brent crude and WTI marooned in no-man’s land. Fears over protracted stimulus negotiations and a Covid-19 derived double-dip is capping gains....