EUR/USD Remains Below Weekly R2
On Wednesday, the EUR/USD currency pair failed to exceed the resistance level—the weekly R2 at 1.1884. It is likely that the exchange rate could gain support from the 55-hour moving average near 1.1840 and trade upwards in the short term....
Sterling to Take the Limelight as Dollar Takes a Breather
Dollar recovers mildly in Asian session today but remains generally weak, as the worst performing one for the week so far. Sellers appear to be taking a breather for now, and wait for fresh development regarding fiscal stimulus, as well...
More Lock-Down In Europe
Market movers today Overall, still a quiet day in terms of economic data releases, with US jobless claims being the highlight of the day. Besides that different confidence measures from Norway, Denmark, Germany, France, the euro area, the UK and...
Elliott Wave View: Oil Futures (CL) Looking To End Flat Correction
Elliott Wave View in Oil Futures (CL) shows that it has ended wave ((4)) pullback at $36.89. This wave ((4)) is part of the cycle starts from April 22 low as a 5 waves impulse. Oil has turned higher in...
Economic recovery could slow in Q4 after ‘steroid of fiscal stimulus’ fades, JPMorgan Asset Management says
Events and entertainment workers protest unemployment on Aug. 19 in Las Vegas. BRIDGET BENNETT/AFP via Getty Images) While it appears that the economy has sharply bounced back from the pandemic’s blow, this is actually a “steroid kind of recovery,” JPMorgan...
Ant Group gets final approvals for its massive dual IPO and reveals share structure
GUANGZHOU, China — Ant Group has cleared the final regulatory hurdle for its massive initial public offering (IPO) with the pricing of its shares slated to be released within the next week. On Wednesday, the China Securities Regulatory Commission gave...
A Fed official who could be Biden’s Treasury secretary says Congress needs to pass stimulus to save the recovery
Federal Reserve Governor Lael Brainard issued a call Wednesday for more fiscal support from Congress, saying more stimulus is needed to address a recovery that has left out large parts of the economy. “The recovery remains highly uncertain and highly...
GBP/USD Soars as CPI Rises
GBP/USD has posted sharp gains in the Wednesday session. In the European session, the pair is trading at 1.3165, up 1.6% on the day. Barring a significant correction during the North American session, the pound is poised for its strongest...
GBP Likes Brexit News: GBP/USD, EUR/GBP
In a duel over Brexit negotiations where something had to give, traders seem to think it has! Earlier, comments from EU negotiator Barnier that a deal is “within reach” if both sides “compromise” seem to be exciting GBP traders. After...
Fed’s Brainard calls for more stimulus from Congress amid ‘highly uneven’ recovery
Federal Reserve Governor Lael Brainard issued a call Wednesday for more fiscal support from Congress, saying more stimulus is needed to address a recovery that has left out large parts of the economy. “The recovery remains highly uncertain and highly...
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