GBP/USD: The Bias Remains Bullish
Pivot (invalidation): 1.3420 Our preference Long positions above 1.3420 with targets at 1.3500 & 1.3530 in extension. Alternative scenario Below 1.3420 look for further downside with 1.3395 & 1.3370 as targets. Comment The RSI lacks downward momentum.
All About The Base – AUDUSD
In many ways this week has provided a perfect storm for the AUDUSD to mount an upside challenge. Volatility has remained subdued as global equities spent the past week consolidating the strong gains of early November. The U.S. dollar as...
Canadian Dollar Follows Oil Higher, Dollar Looks Forward to NFP
Canadian Dollar is trading generally higher in Asian session, with support from upside break out in oil prices. But Aussie and Kiwi are soft. Dollar is taking a breather in Asian session after yesterday’s selloff, as focus turns to non-farm...
Christmas tree sales are telling a holly, jolly economic story
John Williams, left, and his dad Terry, right, both of Salem, carry a large Christmas Tree out of the field together at Tucker Tree Farm in Salem, Oregon, November 29, 2020. Alisha Jucevic | Reuters Tree retailers are having a...
Since Congress can’t agree on a stimulus bill, states and cities are providing relief
Michelle Lujan Grisham, the governor of New Mexico Toya Sarno Jordan | Getty Images News | Getty Images Some states and cities are forging ahead to provide relief to residents financially scarred by the Covid crisis, as negotiations for a...
The pace of job gains likely slowed in November due to the impact of virus shutdowns
Job gains in November are expected to be weaker than in October, reflecting the impact of virus-related shutdowns by states and local governments due to the record spread of Covid-19. Economists expect a consensus of 440,000 nonfarm payrolls were added...
Extending pandemic unemployment benefits into 2021 could save 5.1 million jobs, according to report
In the months since the U.S. labor market shed roughly 22.2 million jobs at the start of the coronavirus recession, some 10 million roles still have not recovered as the virus drags on and a host of stimulus policies intended...
NFP Preview: Oversold Dollar Confronts Deteriorating US Labor Market
When we wrote this report last month, traders were still focused on the uncertain outcome of the US election and while the prospects for an eventual COVID-19 vaccine were promising, there were no signs of an imminent end to the...
Jobless claims hit pandemic-era low as hiring continues even with rising Covid cases
New jobless-claim filings last week reached their lowest level of the pandemic crisis, providing a sign that hiring is continuing if at a slower pace. First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier...
Dollar Selloff Accelerates Despite Jobless Claims, Gold Eyes 1850 Resistance
Dollar’s selloff accelerates today and better than expected jobless claim data provide no support. European majors are generally firm, with Sterling leading the way this time. But the rally in the Pound is unconvincing so far, with uncertainties over Brexit...
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