NZDUSD Hits Wall At Fresh High, Positive Momentum Under Strain
NZDUSD retreated slightly from a newly formed resistance band of 0.6797-0.6801 involving the previous 17½-month high of 0.6797. The improvement in the bullish simple moving averages (SMAs) is assisting positive price action, while the technical indicators reflect some waning in...
Trump’s Lead In Key Battleground States Continue To Erode
Notes/Observations US presidential election remains undecided with former VP Biden still closer to 270 electoral votes than President Trump (Note: Trump’s lead totally dissipated in key battleground state of Georgia with Biden currently holding over a 900 vote edge) Two...
NZD/USD Breaks Channel Pattern
The New Zealand Dollar has surged by 104 basis points or 1.56% against the US Dollar since Thursday’s trading session. The currency pair breached the upper line of an ascending channel pattern at 0.6797 on Friday morning. Given that the...
Longer-term rise in risk is the key problem for US investors
‘The broader question is whether the severity will ultimately lie closer to 2008 or the 1929 Great Depression’ The US risk score declined in Euromoney’s country risk survey in Q1 2020, although it has the potential to improve with the...
There are ‘pretty high’ risks of the U.S. economy backtracking, Moody’s economist warns
The U.S. economy, which has shown signs of recovering, could see its prospects turn given the intensifying spread of Covid-19 in the country and a lack of additional support measures, said Mark Zandi, chief economist of Moody’s Analytics. The International...
Dollar Remains the Weakest While US Stocks Could Make New Record High
Dollar’s decline is slowing a little bit in Asian session but there is no sign of a turnaround. The greenback remains the worst performing one for the week, followed by Yen, on strong risk-on markets. Australian Dollar is the strongest...
Gold: Rebound On Its Way
On Thursday, spot gold jumped 2.5% to a more than one-month high, as the ICE Dollar Index dropped for a third straight session. Investors expect that even if Joe Biden won the election, a large scale of stimulus package is...
Fed Discussed Options to Adjust QE, More Details Probably Out Next Month
As widely anticipated, the Fed left the policy rate unchanged at 0-0.25% and asset purchases at US$120B per month. The decisions were made unanimously. The members acknowledged that economic recovery remained under way. Yet, they warned of the downside risks...
All-star investor Rich Bernstein sees ‘a very bearish sign for the economy and corporate profits’
Institutional Investor Hall of Famer Richard Bernstein sees troublesome activity within the market surge. His problem: Big Tech is the main driver. “Narrow leadership is an end-of-cycle event,” the Richard Bernstein Advisors CEO and CIO told CNBC’s “Trading Nation” on Thursday....
Job growth expected to have slowed in October, as rehirings drop off, layoffs increase
A construction worker wearing a mask carries a steel beam as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 11, 2020 in New York City. Alexi Rosenfeld | Getty Images...