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Day: January 29, 2021

GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month

People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this year, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of …

GameStop short sellers are still not surrendering despite nearly $20 billion in losses this monthRead More

December pending home sales drop as buyers face record high prices and low supply

A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Homebuyers signed fewer contracts to buy existing homes in December, as record high prices and record low supply stood in the way of strong demand. The pending home …

December pending home sales drop as buyers face record high prices and low supplyRead More

Week Ahead – NFP Bounce, Stimulus Progress Might Calm Markets; BoE and RBA Eyed

It’s going to be a relatively busy start to February as investors will be hoping the latest US jobs report will confirm that December’s rough patch was short lived. However, that won’t be the only data to test the market mood as preliminary GDP numbers out of the Eurozone could heighten fears of a double-dip …

Week Ahead – NFP Bounce, Stimulus Progress Might Calm Markets; BoE and RBA EyedRead More

Weekly Focus – Is the Manufacturing Cycle Peaking?

The COVID-19 development continues to be challenging with improvements in most European countries and the US but also signs that countries that ease restrictions see a flare-up again. France for example has experienced a new increase in cases raising concerns over a possible third lockdown. On the positive side, Moderna this week said its vaccine …

Weekly Focus – Is the Manufacturing Cycle Peaking?Read More

Canadian Dollar Rebounds on Strong GDP Growth, Dollar Turns Soft Despite Risk-Off

Canadian Dollar rises broadly in early US session, with the help from better than expected GDP data. Euro is also firmer on German and French GDP data. While markets are back in risk-off mode, Yen, and to a lesser extent Dollar and Swiss Franc, turn softer. As for the week, Sterling and Kiwi are currently …

Canadian Dollar Rebounds on Strong GDP Growth, Dollar Turns Soft Despite Risk-OffRead More

USD/TRY Outlook: Lira Accelerates Higher after Taking Out 200DMA Barrier

The Turkish lira regained traction and strengthens further against the US dollar, following break of pivotal 200SMA (7.3643) which held the action in past three weeks. Lira is also on track for the second straight bullish weekly close and third consecutive bullish month that adds to positive outlook. Holding lira became attractive to investors due …

USD/TRY Outlook: Lira Accelerates Higher after Taking Out 200DMA BarrierRead More

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