Weekly Economic and Financial Commentary: Eurozone Recovery Threatened by Surging COVID Cases
U.S. Review More Strong Housing Numbers Existing home sales rose 2.4% to a 6.0-million unit annual pace. The surge in sales further depleted inventories and pushed prices sharply higher. The IHS Markit Purchasing Managers’ survey noted that manufacturing conditions improved...
The Weekly Bottom Line: More Evidence of Recovery Shifting into Slower Gear
U.S. Highlights Major U.S. equity markets edged lower this week, extending their losing streak to four weeks. This came alongside an uptick in new COVID-19 cases and growing evidence that the economic recovery has shifted into lower gear. Existing home...
Week Ahead: US Presidential Debate and Non-Farm Payrolls
Central Bank speakers were out in full force last week talking about monetary policy stimulus and how they all have plenty of room to ease, if needed. US/China relations continue to be threatened, this time as China steps up its...
Week Ahead – Let the Debates Begin!
Prepare for turbulence For a long time we’ve been warned that the final months of the year will be extremely eventful and if recent weeks are anything to go by, that may be an understatement. With the US election fast...
Stocks making the biggest moves midday: Tesla, Costco, Royal Caribbean & more
Tesla vehicles are displayed in a Manhattan dealership on September 08, 2020 in New York City. Spencer Platt | Getty Images Check out the companies making headlines in midday trading: Bristol-Myers Squibb — Shares of the pharmaceutical company rose 1.2%...
Forward Guidance: Canadian GDP Numbers to Flag Downshift in Recovery Pace
We expect the July Canadian GDP report to flag a slowing in the pace of the recovery. The release is likely to confirm Statistics Canada’s preliminary estimate that GDP rose 3% in July –a sizeable gain but smaller than the...
Week Ahead – Markets Feel the Blues ahead of US Employment Report
A perfect storm of bad news has thrown global markets into disarray. America is running out of stimulus, fears of a constitutional crisis after the election are running rampant, Europe is wrestling with a second virus wave, and central banks...
NZDUSD Bulls Halted by Mid-Bollinger Band; Bearish Pressures Remain
NZDUSD’s fresh upward pivot from 0.6510 has been dismissed by the mid-Bollinger band at 0.6574, which has reset the negative direction, with the price now tackling the 0.6539 barrier. The diving 50- and 100-period simple moving averages’ (SMAs) negative demeanour...
Dollar Firms Up Again ahead of Weekly Close
Dollar firms up again entering into US session, but it’s so far held below yesterday’s high against all but Swiss Franc. There is little reaction to weaker than expected growth in durable goods orders. New Zealand Dollar is surprisingly the...
Stocks making the biggest moves in the premarket: Costco, AstraZeneca, Novavax, Harley & more
Take a look at some of the biggest movers in the premarket: Costco (COST) – Costco reported quarterly earnings of $3.04 per share, 20 cents a share above estimates. The warehouse retailer’s revenue also beat Wall Street forecasts. Comparable-store sales...
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