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Day: November 5, 2020

NFP Preview: Jobs Momentum Slowing as COVID Accelerates

Background While the American public remains enamored with a Presidential election that just doesn’t seem to end, the rest of the financial and economic world continues to turn. In addition to the Federal Reserve’s monetary policy meeting later today, the always highly-anticipated Non-Farm Payrolls report is scheduled for release tomorrow morning. With the election (currently, …

NFP Preview: Jobs Momentum Slowing as COVID AcceleratesRead More

Jobless claims edge lower but are still well above pre-pandemic levels

First-time claims for unemployment insurance continued a modest trend down last week, though the total remains well above what was considered normal prior to the coronavirus pandemic and was a touch higher than Wall Street estimates. The Labor Department reported Thursday that 751,000 U.S. workers filed for benefits, compared with 758,000 the previous week. Economists …

Jobless claims edge lower but are still well above pre-pandemic levelsRead More

As hopes fade for a major stimulus, here’s what it means for the fragile economy

The U.S. Capitol is seen in the morning on November 4, 2020 in Washington, DC. The nation awaits the results of a historic presidential election between President Donald Trump and his Democratic challenger, former Vice President Joe Biden with swing states still too close to call. Al Drago | Getty Images As the question remains …

As hopes fade for a major stimulus, here’s what it means for the fragile economyRead More

Dollar Selling Takes Off as Stocks Extend Powerful Rally

Dollar’s selloff finally takes off as market enters into US session today. While the final result of US presidential election is still unknown, investors couldn’t wait to push stocks higher. At the time of writing, Canadian Dollar is trading as a distant second weakest. Sterling is also relatively weak after BoE delivered larger than expected …

Dollar Selling Takes Off as Stocks Extend Powerful RallyRead More

U.S Futures Still up – Watch QCOM, MRK, BMY, AAPL, BABA

The S&P 500 Futures are extending their uptrend in a still uncertain U.S. election outcome. In any case, the next senatorial majority will be short, limiting the room for manoeuvre of both parties. Later today, the U.S. Labor Department will release initial jobless claims in the week ending October 31 (0.74 million expected).and the U.S. …

U.S Futures Still up – Watch QCOM, MRK, BMY, AAPL, BABARead More

EUR/JPY Sets For Breakout

The Eurozone single currency declined by 80 points or 0.65% against the Japanese Yen on Wednesday. The decline was stopped by the 50– and 200– hour SMAs during yesterday’s trading session. Currently, the exchange rate is trading near the upper boundary of a descending channel pattern a