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Day: November 12, 2020

Here are the things that scare Jerome Powell the most about the economy right now

Federal Reserve Chairman Jerome Powell said Thursday he worries about women, children and business owners who face long-term consequences from the coronavirus pandemic. Asked to name his chief concerns as the world tries to recover from the Covid-19 crisis, Powell said it’s “the risk that there is some longer-run damage to the productive capacity of …

Here are the things that scare Jerome Powell the most about the economy right nowRead More

Weekly jobless claims fall again in another sign of labor market improvement

First-time claims for unemployment insurance continued their decline last week, hitting another pandemic-era low in a sign that the labor market is gradually improving. The Labor Department reported Thursday that jobless claims hit 709,000 for the week ended Nov. 7, down from 757,000 the week before. Economists surveyed by Dow Jones had been looking for …

Weekly jobless claims fall again in another sign of labor market improvementRead More

Sterling Reverses after GDP, Dollar Ignores Jobless Claims and CPI

Sterling suffers notable selling today after slightly weaker than expected Q3 GDP data. Though, pull back against Euro could be a bigger driver for the profit-taking. Elsewhere, better than expected US job data and worse than expected Eurozone production data were generally ignored. For now, Aussie is following the Pound as the second weakest, then …

Sterling Reverses after GDP, Dollar Ignores Jobless Claims and CPIRead More

Vaccine Spells Trouble for Big Tech But Old Economy Stocks Surge

Stocks around the world skyrocketed on news this week that the Covid-19 vaccine being developed by Pfizer and BioNTech is more than 90% effective in protecting against the virus. That’s a very impressive number when considering that it’s much higher than the most optimistic expectations and even more so when comparing it to flu vaccines, …

Vaccine Spells Trouble for Big Tech But Old Economy Stocks SurgeRead More

EUR/GBP Outlook: Bulls Regain Traction And Signal Reversal

The cross rebounds strongly on Thursday after larger bears were rejected on probe through key supports at 0.8865 (3 Sep/9 June lows). Fresh advance is about to complete reversal pattern on daily chart after Wednesday’s action ended in long-tailed Doji. Bulls returned above 200DMA (0.8925) and need daily close above here to generate initial bullish …

EUR/GBP Outlook: Bulls Regain Traction And Signal ReversalRead More

Yen Paring Losses as Markets Turn to Consolidation, Oil Faces Resistance

The financial markets are staying in consolidative mode. Asian stocks are mixed in tight range, following the mixed closes in US overnight. Gold is trading sideway ahead of key near term support. In the currency markets, Yen and Swiss France are mildly higher, paring some of this week’s losses. Meanwhile, commodity currencies turned softer. The …

Yen Paring Losses as Markets Turn to Consolidation, Oil Faces ResistanceRead More

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