Full Risk-On Market With Upside Breakout in DOW and Oil
Markets are in full risk-on mode for now, with DOW closing above 30k handle for the first time overnight. Asian stocks are also generally higher, with strong rally in Nikkei and HSI. WTI oil prices powered through a key near...
Market Morning Briefing: Dollar-Yen Trades Stable
STOCKS Positive sentiment on the back of getting a vaccine for Covid-19 and a smooth power transition in the US are keeping the risk appetite in the market high. But we continue to remain cautious on equities as crucial resistances...
Asia Morning: Dow Closes Above 30,000
On Tuesday, U.S. stocks rallied further pushing the Dow Jones Industrial Average (+455 points or 1.54% to 30046) to close above the key 30,000 level for the first time. The S&P 500 increased 57 points (+1.62%) to 3635, also an...
Market’s record run is far from the finish line, Oppenheimer’s chief strategist predicts
Dow 30,000 may just be the beginning. Oppenheimer Asset Management’s John Stoltzfus believes the Dow’s record high on Tuesday is justified despite the nation’s battle against surging coronavirus cases. He lists a resilient economy as the major factor for optimism....
JPMorgan Chase pays $250 million penalty over weak controls in its wealth management division
Justin Sullivan | Getty Images JPMorgan Chase agreed Tuesday to pay a $250 million fine after one of its U.S. regulators found a “pattern of misconduct” in its asset and wealth management division. The Office of the Comptroller of the...
New Zealand Asks for Help, NZD Likes It: NZD/USD, NZD/JPY, EUR/NZD
Early in today’s Asian session, New Zealand’s Finance Minister Grant Robertson wrote to RBNZ Governor Orr and asked him to factor in house price stability when considering monetary policy. As a result of lower interest rates, housing prices in New...
Transition Time, Housing Shines, Confidence Misses, Dollar Drops, Oil Pops, Gold Plops, Bitcoin Eyes Record
Wall Street is increasingly betting on cyclicals now that the Trump administration has given the green light to the formal transition process to President-elect Biden. The General Services Administration (GSA) acknowledged President-elect Biden as the winner and will release the...
Euro Resilient Despite Deterioration Business Expectations, Dollar Mixed
Commodity currencies remain the strongest one for today with help from risk-on markets. Euro is also firm, shrugging off deterioration in business expectations as indicated by Ifo’s data. Though, selling is focusing on Swiss Franc and Sterling for now. Dollar...
GBP/USD Outlook: Bulls Pressure 1.34 Barrier And Eye 2020 High, Inflated By Rising Risk Appetite
Cable rises towards 1.34 barrier on Tuesday after strong upside rejection on Monday (1.3397 was new 11-week high), lifted by fresh risk appetite on signals that President Trump’s administration gave a green light for transition of duties to President-elect Biden....
Traders Watch Dollar Fall On Vaccine And US News
The US dollar continued falling during the Asian session as traders continued to focus on vaccine and US politics news. On the vaccine, several countries, including the United States, Germany, and the UK have announced plans to start vaccinations before...
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