Gold Loses Its Shine As It Nears A Two-Month Low
The precious metal remains in a bearish move after earlier this week, price failed to hold above the 1900 level. A brief retracement saw prices testing the 1911.50 level. But with no further room to go, gold prices reversed direction. At...
Dollar Powers Up as Risk Aversion Intensifies on Coronavirus Resurgence
Risk aversion continues to dominate the markets, on concern of another wave of coronavirus infects, as the Northern Hemisphere is entering in fall and winter. US stocks closed notably lower after brief initial rebound. Asian markets follow with heavy selling,...
Economist Stephen Roach issues new dollar crash warning, sees double-dip recession odds above 50%
Economist Stephen Roach warns next year will be brutal for the dollar. Not only does he see growing odds of a double-dip recession, the Yale University senior fellow believes his “seemingly crazed idea” that the dollar would crash shouldn’t be so...
JPMorgan to pay almost $1 billion fine to resolve US investigation into trading practices
A man is reflected in a sign outside of the JPMorgan Chase headquarters in New York City. Getty Images JPMorgan Chase is close to paying almost $1 billion to resolve government investigations into the alleged manipulation of metal and Treasuries...
AUD/USD Outlook: Aussie Falls to 1 1/2 Month Low on Stronger Greenback, Expectations of RBA Rate Cut
The Australian dollar extends steep fall into fourth straight day (down 2.9% from last Friday’s 0.7334 high) and falls to 1 1/2 – month low on Wednesday. Strong risk aversion continues to deflate Aussie, with additional negative signals seen from...
SNB: Keeping a Rate Bullet in the Chamber
The Swiss National Bank (SNB) will conclude its meeting at 07:30 GMT Thursday, and with Switzerland having fallen back into deflation, markets are pricing in a 30% chance for a small rate cut. That said, the SNB already boasts the...
EURAUD Rallies Towards a Fresh 1-Month High
EURAUD spiked to a fresh one-month peak of 1.6440 earlier today. The price completed a double bottom formation after breaching the 1.6350 strong barrier, shifting the bias from bearish to bullish. Meanwhile, the stochastic oscillator is trying to post a bearish crossover in...
Dollar Stays Strong But Yen Retreats With Rebound in Stock Markets
Dollar remains the strongest one for today but Swiss Franc and Sterling have overtaken as the next strongest. Sterling is some what helped by solid PMIs but Euro shrugged off the disappointing PMI readings. European stock markets are having a...
U.S Futures Gain Ground – Watch NKE, TSLA, TWTR, GIS, KKR
The S&P 500 Futures are extending Tuesday rebound when the Dow Jones Industrial Average rose 140 points (+0.52%) to 27288, the S&P 500 climbed 34 points (+1.05%) to 3315, and the Nasdaq 100 jumped 206 points (+1.88%) to 11186. Later...
RBNZ Hints to Add Alternative Easing in Coming Months
As widely anticipated, RBNZ left the OCR unchanged at 0.25% today. The cap of Large Scale Asset Purchase (LSAP) program, a.k.a. QE, also stays at NZD 100B. Meanwhile, the central bank reiterated the forward guidance that the OCR will be...
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