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Day: November 6, 2020

Jobs report shows labor market stronger than expected, as economy faces new surge in Covid cases

The labor market was stronger than expected in October, showing good momentum ahead of the latest wave of coronavirus cases. The economy added 638,000 nonfarm payrolls and the unemployment rate fell by a full percentage point to 6.9%. The government compiled the data for the report in the middle of October. Stock futures temporarily erased …

Jobs report shows labor market stronger than expected, as economy faces new surge in Covid casesRead More

Week Ahead – The Calm after the US Election Storm

It’s a relatively quiet week coming up for global markets as the election dust settles. The main event will be the RBNZ policy meeting, though frankly, the real driver for most currencies and stocks may be the ‘aftershock’ effects of the election. There’s also a slew of economic data, the Brexit adventure continues, and the …

Week Ahead – The Calm after the US Election StormRead More

Job growth stronger than expected in October, unemployment rate slides to 6.9%

Employment growth was better than expected in October and the unemployment rate fell sharply even as the U.S. faces the challenge of surging coronavirus cases and the impact they could have on the nascent economic recovery. The Labor Department reported Friday that nonfarm payrolls increased by 638,000 and the unemployment rate was at 6.9%. Economists …

Job growth stronger than expected in October, unemployment rate slides to 6.9%Read More

Dollar Selling Continues Despite Solid NFP, Euro Surges

Dollar’s selloff continues today despite stronger than expected employment data. Though, selling focus has turned to against Euro and Swiss Franc. Australian Dollar is taking a breather, together with global stock markets. There is no doubt that Dollar will end as the worst performing one for the week, followed by Yen. Commodity currencies will stay …

Dollar Selling Continues Despite Solid NFP, Euro SurgesRead More

GBPUSD’s Hike Ceases Around Upper Bollinger Band

GBPUSD is consolidating beneath the 1.3175-1.3183 limiting border after surging off the 200-period simple moving average (SMA) and above the 50- and 100-period averages. The fairly horizontal bearing of the SMAs are promoting the neutral picture. That said, the price is currently near the upper Bollinger band and is showing some signs of weakness. The …

GBPUSD’s Hike Ceases Around Upper Bollinger BandRead More