Economy sees job loss in December for the first time in eight months as surging virus takes toll
Job creation came to a halt in December as restrictions brought on by surging Covid-19 cases hammered virus-sensitive industries, particularly bars and restaurants, which lost nearly half a million positions. The Labor Department reported Friday that nonfarm payrolls fell by...
Week Ahead – The Calm Before the Stimulus Storm?
It looks like a quiet week for global markets, with no major central bank meetings and only a handful of key data releases. The highlight may be the US CPI data, which will tell us how inflationary pressures are evolving,...
NZDUSD Stumbles But Upside Risks Remain Intact
NZDUSD is currently tracing the mid-Bollinger band in the four-hour chart after a slight pullback from the recently plotted 32½-month peak of 0.7314. Despite the small retracement in the pair, the commanding simple moving averages (SMAs) are backing the predominant...
Dollar Weakens Against on Job Contraction, Downside Limited So Far
Dollar appears to be turning weaker again after non-farm payroll report showed the first contraction since April. Euro is currently following as second weakest for the than, than Canadian, which was also weighed down by employment data. On the other...
Gold Outlook: Extended Pullback Dips Below $1900 ahead of US NFP
Spot gold fell 1.5% on Friday, extending steep fall into third straight day, after bulls stalled at pivotal Fibo resistance at $1956 (61.8% of $2074/$1764 fall). The price fell below $1900 for the first time in one week, as dollar...
GBPUSD Positively Skewed Despite Recent Consolidation
GBPUSD is consolidating into the Ichimoku cloud after its recent retreat from the newly formed 32-month peak. The bias still seems to be favouring the upside although positive momentum is looking somewhat strained. Furthermore, the commanding bullish simple moving averages...
XAU/USD Trades At 1,890.00
During Friday morning hours, the XAU/USD exchange rate dropped to the 1,890.00 level. From the one hand, it is likely that a reversal north could occur, and yellow metal could extend gains against the US Dollar in the short run....
USD/JPY Revealed Desending Channel
The USD/JPY currency pair has revealed a medium-term descending channel. From a theoretical perspective, it is likely that the exchange rate could bounce off the upper channel line and trade downwards in the short run. Note that the rate could...
EUR/USD Revealed Ascending Channel
The EUR/USD currency pair has revealed a medium-term ascending channel. From a theoretical point of view, it is likely that the exchange rate could reverse north from the lower channel line. Note that the rate would have to exceed the...
Biden Floats New Stimulus Bill, US Jobs Report Coming Up
Equity party continues to rage amid whispers of $3 trillion infrastructure bill Yen and gold suffer as global bond yields climb Dollar extends rebound ahead of nonfarm payrolls – an asymmetric event? Stock market freight train keeps on rolling Global...
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