Claims Improve But Show Recovery Stalling, BOE Debates Going Negative
Claims improve but show recovery is stalling, BOE debates going negative, OPEC+ could do more in Oct, Gold’s post-Fed hangover Economic momentum continues to fade as many Americans continue to file new claims for Pandemic Unemployment Assistance, benefits offered to...
Jobless claims were lower than expected but employment growth is still sluggish
First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage. Filings totaled 860,000 for the week ended Sept. 12, the Labor Department reported Thursday. Economists surveyed by Dow Jones had...
Sterling Plummets as BoE Hints on Negative Rates, Yen Surges
Sterling drops broadly today as BoE minutes indicated that the central bank is already discussing implementation negative interest rates. On the other hand, Yen is currently the strongest one, extending this week’s strong rally. Risk aversion and falling treasury yields...
BOE Voted 9-0 to Keep Policy Unchanged. Signaled to Discuss with Regulator about Negative Rate Implementation
BOE voted unanimously to leave the Bank rate unchanged at 0.1%. The asset purchase program also stayed at 745B pound in September. At the meeting, policymakers acknowledged stronger-than-expected recovery in the UK. Yet, they reiterated that the outlook remained highly...
EURGBP Could Provide The Bulls A Second Chance
EURGBP pulled back below the 0.9290 resistance for the second time this year but the bulls may have a second chance to retake control as the pair is exposed to a key supportive area. The 50% Fibonacci retracement of the...
Fed picks its side in inflation debate and sends market a message — no rate hikes for years
The Fed does not expect to see inflation pick up for years, and it is willing to keep rates at zero even after it does. Stocks initially surged after the Fed released its post-meeting statement and its latest economic forecast,...
EUR/USD Dropped Below 1.1800
On Wednesday, the EUR/USD currency pair dropped to the support level formed by the weekly and monthly S1s near 1.1760. During today’s morning, the pair reversed north. It is likely that the exchange rate could face the resistance formed by...
Oil Rally Fizzles, Gold Stays Steady
Oil impressive overnight rally peters out Oil prices rocketed higher overnight, as Hurricane Laura worries and a dramatic fall by 4.4 million barrels for US Crude Inventories provoked an aggressive short squeeze of speculative positioning. Brent crude rose 4.0% to...
Oil Bulls Aiming For W H5 Camarilla Pivot
Oil made a retracement and the price bounced again. There are two POC zones where we might expect a bullish bounce. 38.28-38.69 is the first POC zone. There is a confluence of 61.8, W H3 and bullish order block. If...
Fed Shifted to Outcome-Based Forward Guidance, Upgraded Economic Projections
The Fed left the policy rate unchanged at 0-0.25% and the asset purchases program unchanged in September. There are substantial changes in the policy statement, reflecting the formal adoption of average inflation targeting. Updated economic projections revealed a more optimistic...
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