GBP/USD Outlook: Cable Stands At The Back Foot Following No Breakthrough In Trade Talks
Early Thursday’s action is keeping negative tone but long shadows on daily candles in past few sessions signal lack of clear direction. Pullback from new 2020 high at 1.3538 cracked initial supports at 1.3335/30 (Fibo 23.6% of 1.2675/1.3538/rising 20DMA) but...
Can The ECB Drag The Euro Lower?
This year, the Euro has been one of the best performing major currencies, having appreciated 8% against the Dollar so far while rebounding 14% from the March lows. The rise in the Euro has come despite depressed bond yields across...
Sterling Softens on Brexit Impasse, Euro Awaits ECB
Sterling softened again after the Brussels meeting ended with nothing more than comments that UK and EU are still far apart. Yet, traders are still holding their bets for now. Yen and Dollar also shrug off the deep pull back...
BOC Upbeat about Vaccine but Remained Cautious about Slow Global Recovery
As widely anticipated, BOC left all its monetary policy measures unchanged. Policymakers acknowledged the economic recovery since the last meeting. Yet they cautioned about the resurgence in coronavirus cases and the potential impacts on related restrictions on the economic outlook....
Trend shows home price growth at record high, rising at fastest pace since early 2000s
Housing is doing something it hasn’t done since the bubble. According to economic forecaster Lakshman Achuthan, home prices across the country are rising at the fastest pace since 2004. Plus, he finds price growth is at a record high. “This...
Mortgage rates set 14th record low of the year, driving even more refinance demand
Mortgage rates fell again, falling to a record low for the 14th time this year, defying their usual correlation to Treasury yields, which have recently been moving higher. And that is sending ever more borrowers to their lenders looking to...
WTI OIL: Oil Prices Drop on Unexpectedly Strong Build in Weekly Crude Inventories
WTI oil fell over $1 after EIA report showed US weekly crude inventories rose by 15.2 million barrels in the week to Dec 9, marking the biggest weekly build in nearly eight months. Downbeat data increased pressure on oil prices,...
UK Recovery Stumbles as No-Deal Brexit Risks Spike; Pound Oblivious
Growth data out of the United Kingdom will kick off Thursday’s European session at 07:00 GMT when traders are likely to wake up to fresh Brexit headlines. Prime Minister Boris Johnson is due to travel to Brussels later today to...
EURGBP’s Clear Direction Curbed as Recent Gains Fade
EURGBP is receding beneath the 50-day simple moving average (SMA) at 0.9012, residing between the converging 100- and 200-day SMAs. The conflicting SMAs seem to be developing a somewhat sideways bearing, promoting the near-term directionless market. The opposing short-term oscillators...
Sterling Rebounds ahead of Johnson’s Brussels Trip, Euro and Swiss Soften
Sterling rebounds strongly today on hope that the physical meeting between the leaders of UK and EU would yield some positive progress on post Brexit trade talks. Yet, traders are not too committed on the bullish side yet, after Prime...
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