JPMorgan becomes first major bank to say first-quarter GDP will decline because of Covid surge
Volunteers from women’s organization Nuevo Amanecer Mujer Integral help with the distribution of frozen turkeys and food boxes ahead of Thanksgiving to families affected by the Covid-19 pandemic on November 18, 2020 in Los Angeles, California. Frederic J. Brown |...
Yen’s Path Versus Dollar Defies Recovery Trend, May Cause Headache for Policymakers
The Japanese yen has been on a steady downtrend against most of its major peers since March when it exploded higher during the virus-induced financial turmoil. Although only the euro and the Australian dollar have managed to erase their year-to-date...
Big banks take baby steps toward commercializing blockchain
LONDON — A few years back, blockchain was the talk of the financial services industry. Several large banks were testing the technology, lured by the promise of improving some of the sector’s oldest processes. This year, investors could be forgiven...
Evans says Fed programs are important backstop, disappointed by Treasury’s move to stop some funding
Chicago Federal Reserve President Charles Evans expressed disappointment Friday in the Treasury Department’s decision to end several lending programs implemented during the coronavirus pandemic. Speaking a day after Treasury Secretary Steven Mnuchin said the programs would not continue past their...
Strong Retail Sales Data from Canada and UK Ignored
Dollar would probably end as the worst performing for the week, followed by Yen and Swiss Franc. But they’re generally staying familiar range, like other major pairs and crosses. Investors are struggling to decide on a direction, despite the news...
WTI Oil Outlook: Oil Price Maintains Bullish Bias But Negative Impact From New Wave Of Virus Limits Gains
WTI oil price jumps above $42 on Friday, focusing November’s peak at $43.03. Overall sentiment remains positive as the contract is on track for the third consecutive weekly gain, although the upside attempts remain limited on oversupply, demand concerns over...
EUR/SGD 4H Chart: Two Scenarios Likely
The EUR/SGD exchange rate has revealed a long-term descending channel. From a theoretical perspective, it is likely that the currency pair could continue to decline within the predetermined channel in the medium term. The pair could target the Fibo 50.00%...
AUD/SGD 4H Chart: Rising Wedge Pattern In Sight
Since the beginning of October, the AUD/SGD currency pair has been trading upwards within a rising wedge pattern. From a theoretical point of view, it is likely that the exchange rate could continue to trade upwards within the given pattern...
NZD/JPY 4H Chart: Breakout Likely To Occur
The New Zealand Dollar has edged higher by 5.30% against the Japanese Yen since the beginning of November. The currency pair tested the upper boundary of an ascending channel pattern at 72.72 during last week’s trading sessions. Currently, the exchange...
NZD/CAD 4H Chart: Buying Signals
The New Zealand Dollar has surged by 3.41% against the Canadian Dollar since the beginning of November. The currency pair breached the 0.9060 during yesterday’s trading session. All things being equal, the exchange rate is likely to continue to edge...