At least 1 million people may not get Trump’s $400 unemployment boost
President Donald Trump speaks at an Aug. 10 White House news conference. Alex Wong | Getty Images News | Getty Images An extra $400 Trump’s executive order was one of four measures signed on Saturday to address jobless benefits, evictions,...
Wall Street Eyeing New Records
A bumper start to trading European stock markets surged on Tuesday, with indices across the continent up almost 3% as sentiment surveys for the region significantly exceeded expectations. The ZEW economic sentiment surveys were very encouraging and suggest the euro...
Blockchain platforms see Covid-19 trade finance opportunity
Distributed-ledger technology-based transactions are slowly becoming more commonplace in trade finance. Last month, Turkey’s Isbank became the first financial institution in that country to use the technology for a trade-finance transaction, for instance. An interesting emerging platform is Russian-based Factorin,...
GBPCAD Recedes, Yet Retains a Positive Tone
GBPCAD faded further into the Ichimoku cloud and dropped below the 50-period simple moving average (SMA), following the retracement from the three-month high of 1.7673 peak. The Ichimoku lines suggest a temporary stalled picture in positive directional momentum. Nevertheless, signs...
Gold in Steep Correction as Global Stocks in Strong Rally
The global financial markets continue to trade in full risk-on mode today. In particular, US futures point to sharply higher open as S&P 500 would likely take on new record high. Canadian Dollar is currently the strongest one for today,...
GBP/USD Tests 100-Hour SMA
Yesterday, the GBP/USD exchange rate tested the 100-hour SMA near 1.3100. During Tuesday morning, the rate continued to test the given resistance. It is likely that the currency pair could gain support from the 200-hour moving average near 1.3090 and...
Geopolitical Put Fades In Asia
Tencent climbs as US-China tensions ease The overnight US session was a non-descript one; the dollar held recent gains; energy edged higher as did equities. Profit-taking hit technology stocks after some recent impressive gains, with investors rotating into more traditional...
Markets Back in Risk-On Mode While Dollar, Yen and Franc Weaken
Asian markets surge broadly today, following the strong close in US stocks. DOW is finally catching up by a powerful break through June’s high while S&P 500 is closing in on record high. Investors welcomed the news of falling coronavirus...
Banks and tech giants including JPMorgan and Amazon pledge to hire 100,000 minority New Yorkers
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images The CEOs of banks, tech companies and consulting firms are forming a group to boost hiring from underrepresented groups in New York. Leaders...
Currency Pair of the Week: AUD/USD
AUD/USD has had a strong run since mid-March, trading from .5701 to .7243. The Reserve Bank of Australia (RBA) stated at their last meeting that given the recent outbreaks of the coronavirus and localized shutdowns, current monetary policy was still...
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