USDCHF Surrenders To Bears, Nearby Support Eyed
USDCHF is bearishly exposed to the nearby 0.9258 support level after failing to crawl above the 61.8% Fibonacci retracement level of the March rally last week. The technical indicators are framing a discouraging picture for the short-term too, as the...
Stock Rally Despite Mixed Corporate Earnings
US stocks have returned to growth after a wobbling session on Wednesday. During the turbulent session, investors focused on mixed quarterly reporting and the debate over further stimulus. The benchmark S&P 500 index rose 0.62%, and Dow added 0.57%. Nasdaq...
Dollar and Yen Weak after Steep Selloff, No Bottoming in Sight Yet
Investors in Asia remain generally cautious today as reflected in the mixed markets. US-China tensions look set to escalate further after President Donald Trump said closure of other Chinese missions is “always possible”. Yet, the developments give no special support...
SGX’s Nasdaq tie-up is a bid to stem exchange’s outward flows
A new cooperation agreement between Singapore Exchange Regulation, the regulatory arm of the Singapore stock market, and Nasdaq aims to streamline a framework for dual listings on the two bourses. Singapore needs this much more than the US does –...
Senate GOP, White House reach tentative $1 trillion pact to break coronavirus aid logjam
U.S. Treasury Secretary Steven Mnuchin prepares to testify before the House Small Business Committee at the U.S. Capitol on July 17, 2020 in Washington, DC. Kevin Dietsch | Getty Images Senate Republicans announced Wednesday evening that they have “reached a...
Gold Price Is Just Shy Of A New All-Time High
Key Highlights Gold price rallied significantly above the $1,820 and $1,850 resistance levels. A new multi-year high is formed near $1,876 and the price is a few steps away from a new all-time high. A crucial bullish trend line is...
U.S. is on a collision course with a double-dip recession, economist Stephen Roach warns
Economist Stephen Roach warns V-shaped recovery mania on Wall Street is leading investors astray. According to Roach, the U.S. is on a collision course with a second dramatic downturn. “The odds of a relapse, not just the virus but in...
Pelosi says more aid directly to Americans is needed to support economic recovery
House Speaker Nancy Pelosi told CNBC on Wednesday that additional financial aid to Americans is needed to support the U.S. economy’s recovery from the coronavirus-induced recession. “You can help people stay open, pay the rent, pay the utilities … even...
Former Wirecard CEO rearrested in Munich as prosecutors suspect $3.7 billion fraud
Markus Braun, chief executive officer of Wirecard AG, arrives for the company’s annual news conference in the Aschheim district of Munich, Germany, on Tuesday, April 25, 2019. Michaela Handrek-Rehle | Bloomberg via Getty Images The former CEO of collapsed German...
Existing home sales surge nearly 21% in June – the highest monthly gain on record
Sales of existing homes jumped nearly 21% in June compared with May, according to the National Association of Realtors. It was the largest monthly gain since the Realtors began tracking the data in 1968 and came after sharp declines over...
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