Jobless claims show modest decline as Congress works on more stimulus
Americans continued to hit the unemployment line in large numbers as the ongoing surge of Covid cases added to America’s unemployment problem last week. Jobless claims totaled 900,000 for the week ended Jan. 16, the Labor Department reported Thursday. That...
Euro Recovers as ECB Sees Less Pronounced Downside Risk, Dollar Softens after Jobless Claims
Euro recovers mildly in early US session, after ECB said downside risks to the economic outlook are less pronounced. Though, it remains one of the worst performing for the week, together with Dollar, Yen and Swiss Franc. The greenback is...
USDCHF’s Bullish Pressures Pause around Vicinity of 200-MA
USDCHF has poked back underneath the 200- and 100-period simple moving averages (SMAs) at 0.8866 and 0.8857. Its recent attempts to decisively surpass the 200-period SMA have ended up consolidating the price around it, thus keeping hopes of the bear...
USD/JPY Trades Below 103.60
Yesterday, the USD/JPY currency pair breached the symmetrical triangle pattern south. Given that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages in the 103.80 area, it is likely that some downside potential could continue to...
Stocks, Pound Extend Gains And EUR/USD Steady As ECB Eyed
The EUR/USD was steady while the GBP/USD hit a new multi-year high on Thursday morning, as the US dollar fell further with more global indices hitting new record highs with investors remaining hopeful that lockdowns will end hopefully in the...
BOJ Downgraded Economic Outlook for FY2020, Inflation to Fare Better During Forecasting Horizon
The January BOJ is non-eventful. Cautioning that risks to the economic outlook is tilted to the downside, the central bank announced to leave all its stimulus measures unchanged. In contrast to speculations, the central bank did not adjust the implicit...
Millions of new investors piled into mainland Chinese stock markets in 2020
An investor looks at an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China. Reuters BEIJING — More Chinese investors are piling into the local stock market. In December, the mainland stock market recorded 1.62...
Euro Vulnerable as ECB Awaited, Strong Risk-On Sentiment Continues
Euro recovers mildly today but stays as one the weakest, along with Dollar, Yen and Swiss Franc. Strong risk-on sentiments pushed major US indices to new records overnight. Commodity currencies are generally strong on the sentiments. Canadian Dollar was additionally...
Spike in lumber and land prices causes homebuilder confidence to fall from epic high
A contractor moves roofing material on a home under construction at the Toll Brothers Cantera at Gale Ranch housing development in San Ramon, Calif. David Paul Morris | Bloomberg | Getty Images Just two months ago, homebuilders had never been...
USD/CAD Technical Outlook: Is it Time for a Long-Term Change in Tend?
As with any currency pair, there are an abundance of factors to consider when trying to forecast price. Those factors can be broken down into technical factors and fundamental factors. On the technical side, price action is paramount. However, for USD/CAD,...
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