ECB Extends PEPP, APP and TLTROs to At Leaset Until Mid-2022
As promised, the ECB “recalibrated” the existing monetary policy measures at the December meeting. The aim is to ensure that the current level of stimulus remains in presence through to 2020. On the economic projections, the staff revised lower the...
Stock futures flat as stimulus deal remains unresolved
Stock futures were flat in overnight trading on Thursday as the future for additional fiscal stimulus remained uncertain. Futures on the Dow Jones Industrial Average gained about 50 points. S&P 500 futures and Nasdaq 100 futures were both little changed....
Rising unemployment claims could be foreboding for the economy
The surprise jump in new jobless claims filings to the highest level since mid-September signals a weakening in the labor market that could drag down the economy into the first quarter. Initial claims for state unemployment benefits jumped to 853,000,...
Jobless claims rise more than expected after break from holiday
The pace of weekly jobless claims jumped last week after filings caught up with a decline due in part to the Thanksgiving holiday. First-time claims for unemployment insurance totaled 853,000, an increase from the upwardly revised 716,000 total a week...
Pound Flat as Manufacturing Data Jumps
The British pound is showing little movement in the Thursday session. GBP/USD is currently trading at 1.3304, up 0.06% on the day. GDP slows in October The monthly GDP report slowed to a crawl in October, with a gain of...
EUR/USD: ECB Day
The European Central Bank has kept its key rates unchanged and has decided to boost PEPP (Pandemic Emergency Purchase Programme) by 500 billion euros to at least March 2022. Yesterday, U.K. Prime Minister Boris Johnson and EU President Ursula von...
Waiting on Stimulus Breakthrough
Wall Street opened a little lower on Thursday as we await the FDAs decision on the Pfizer vaccine and US lawmakers push ahead with stimulus talks. Following statements earlier this week, the decision to grant emergency use authorisation to the...
Homeowners are $1 trillion richer thanks to the pandemic-driven housing boom
American homeowners are $1 trillion richer as the pandemic-driven housing boom pads their pockets. As prices rise, home equity multiplies. In the past year, homeowners with mortgages, representing about 63% of all properties, have seen their equity increase by 10.8%,...
Dollar Dives as Jobless Claims Surge, Euro Firm as ECB Delivers
Dollar falls broadly in early US session after much worse than expected jobless claims data, confirming the impact of the current wave of coronavirus pandemic. Yen is not far behind for now as second weakest. But Sterling is also facing...
XAU/USD Dropped Below 1,845.00
The XAU/USD exchange rate has tumbled to the support provided by the 200-hour SMA near 1,830.00. If the predetermined support holds, it is likely that yellow metal could appreciate against the US Dollar within the following trading session. Meanwhile, note...
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