Pound Retreats on Brexit Impasse
The British pound has lost more ground in the Tuesday session. GBP/USD is currently trading at 1.3356, down 0.79% on the day. Brexit takes sterling on a roller-coaster It’s been a roller-coaster ride for the pound. GBP/USD gained 2.26% last week,...
USDCAD Steadfast Re-targets the 200-MA
USDCAD is headed to retest the 200-period simple moving average (SMA), after finding a foothold on the cloud’s upper surface and the 100-period SMA around 1.2819. The price bounce came after the 200-period SMA curbed the rally, which started from...
Existing home sales decline for the first time in 5 months as prices rise and supply falls
A house for sale on December 17, 2020 in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images After five consecutive months of gains, closed sales of existing homes turned lower in November. They fell 2.5% on a month-to-month...
Euro and Swiss Franc Slightly Firmer in Subdued Trading
It seems that traders are already on holiday with the subdued market activity today. Sterling softens again on reports that EU rejected UK’s latest proposal on fishing rights. Australia and Zealand Dollars also dip mildly. On the other hand, Swiss...
Goldman Sachs, once reserved for the rich, is close to offering wealth management for the masses
A woman looks at Marcus, a new savings and loans app recently launched by Goldman Sachs in New York, January 10, 2020. Mike Segar | Reuters Goldman Sachs has for decades set its sights on the global elite when it...
XAU/USD Trades Beow 55-Hour SMA
Since Tuesday, the XAU/USD exchange rate has been trading below the resistance provided by the 55-hour SMA near 1,883.00. If the predetermined resistance holds, it is likely that some downside potential could prevail in the market. The price for gold...
Cable Falls On Rejection Of The Latest UK Brexit Offer By The EU
Notes/Observations EU officials to meet on coordination of response to new covid strain UK offers concessions over fishing that reportedly advanced potential for a Brexit deal, which reportedly is deemed unacceptable. UK Parliament reportedly ready to meet on Dec 30...
EURUSD Bullish Above 1.2170
The euro currency has started to recovery against the US dollar after sellers failed to build on the early-week downside momentum. Technical analysis shows that a bearish rising wedge pattern has formed, with the 1.2170 level the key area to...
Sterling Volatility Continues, Dollar Rebound Falters
Sterling’s exceptional volatility continued as traders turned a bit more optimistic on a Brexit trade deal. But upside remains capped, as nothing is done until everything is done. Markets are also mixed elsewhere, with the positive impact of US fiscal...
Covid relief bill offers 11 weeks of extra unemployment benefits, $300 boost and a supplement for some gig workers
Unemployed workers would get an extra 11 weeks of jobless benefits and a $300 weekly enhancement to aid payments as part of a Covid relief deal Congress reached Sunday. Certain self-employed and gig workers would also get an extra $100...