Silver Looking for a Top – Elliott Wave Analysis
Silver is recovering in a five-wave movement from the 11.60 level. We see wave 5 now underway, which is final wave of an uptrend, and which can look for resistance and a temporary top at the 19.30/19.8 region. Once wave...
Gasoline, food boost U.S. consumer inflation in June
U.S. consumer prices increased by the most in nearly eight years in June as businesses reopened, but the underlying trend suggested inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy. The Labor...
Euro Surges in Indecisive Markets, Sterling Stays Weak
Risk sentiments continues to be weak today but selloff in the stock markets is so far limited. Euro rides on the indecisive markets and surges broadly today, with help by strong rally against Sterling. Swiss Franc is following as the...
EUR/JPY Buying Signals
The common European currency surged by 110 basis points or 0.91% against the Japanese Yen on Monday. The currency pair breached the weekly R1 at 121.77 during yesterday’s trading session. All things being equal, the EUR/JPY exchange rate will most...
Sentiments Turning on Lockdown Concerns, Sterling Down on Weak GDP Rebound
Sentiments seemed to have a turn as surge of coronavirus cases in the US pushed California back into lockdown. Asian markets are under some selling pressure. But the more indicative development was the sharp -2.13% decline in NASDAQ overnight. It...
ECB Preview – Sounding Cautiously Optimistic on Economic Recovery
After the big move in June, ECB is likely to keep its powder this month. At this week’s meeting, we expect the central bank to acknowledge the improvement in economic activities, mainly driven by consumption. However, the members will remain...
Asia Morning: U.S. Stocks Pare Gains In Last Trading Hour
On Monday, U.S. stocks closed mixed after turning sharply lower in the final trading hour. The Nasdaq 100 Index shed 234 points (-2.16%) to 10602, the S&P 500 fell 29 points (-0.94%) to 3155, while the Dow Jones Industrial Average...
China says the latest U.S. move is aggravating tensions in the South China Sea
U.S. Navy multirole fighter landing on the flight deck of USS Ronald Reagan (CVN-76) aircraft carrier as it sails in South China Sea Oct. 16, 2019. Catherine Lai | AFP | Getty Images China said Tuesday that the latest U.S....
U.S. budget deficit hits all-time high of $864 billion in June
Treasury Secretary Steve Mnuchin with national debt signage in background. Tom Williams | CQ Roll Call | Getty Images The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus...
Homebuilders just saw the strongest June sales since the last housing boom, as pandemic pushes more buyers to the suburbs
A construction worker wearing a protective mask moves bricks to the back of a house as they resume construction on a home in Bloomfield Hills, Michigan, May 7, 2020. Emily Elconin | Bloomberg via Getty Images It is the perfect...
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