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Day: February 3, 2021

USD/TRY: Bears to Extend Further after Break of Key Supports

The USDTRY returned to red on Wednesday after bears took a breather on Tuesday, when price bounced from new six-month low (7.0887). The pair was down nearly 4% since it broke pivotal 200DMA last week, with additional negative signals being generated on break of former low (7.2370) and 50% retracement of 5.8382/8.5816 rally – 2020 …

USD/TRY: Bears to Extend Further after Break of Key SupportsRead More

ADP Impresses, Crude Rally Continues, Gold Stumbles on Strong US Data

US stocks initially pushed higher on big-tech earnings, expectations Senate Democrats will pass Biden’s stimulus plan on a party-line vote, and after the ADP private payroll report shows the labor market rebounded in January. The morning rally fizzled at the open as some investors quickly headed for the sidelines and cashed out on their FAANG …

ADP Impresses, Crude Rally Continues, Gold Stumbles on Strong US DataRead More

Private companies added 174,000 jobs in January, vs 50,000 estimate, ADP says

A month after reporting the first loss since April, the employment picture bounced back in January as companies added 174,000 new jobs, according to a report Wednesday from payroll processing firm ADP. The gain beat the 50,000 estimate from economists surveyed by Dow Jones and improved on the 78,000 December decline, a number that was …

Private companies added 174,000 jobs in January, vs 50,000 estimate, ADP saysRead More

Euro Stays Weak Despite Better CPI, Dollar Shrugs Strong ADP Job Growth

Economic data released today are largely ignored so far. Euro’s weakness continues despite stronger than expected inflation reading. Swiss Franc and Sterling are also softening slightly. Dollar, on the other hand, struggles to extend gain after much stronger than expected ADP employment. New Zealand Dollar continues to trade as the strongest one, taking the Aussie …

Euro Stays Weak Despite Better CPI, Dollar Shrugs Strong ADP Job GrowthRead More

Mortgage refinancing suddenly surges, but homebuyers stall due to sticker shock

A house for sale on December 17, 2020 in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images Mortgage rates fell for the first time in nearly a month, and that lit a fire under current borrowers who may have thought they missed the boat on refinancing their loans. Applications to refinance jumped 11% …

Mortgage refinancing suddenly surges, but homebuyers stall due to sticker shockRead More

Eurozone Inflation Jumps In Jan, Italian Politics Remain In Focus

Notes/Observations Italian political situation remains in focus; former ECB chief Draghi said to be the front-runner to form a new govt Major European Services PMI data mixed in session but staying in contraction territory (Beats: Euro Zone, France, Italy and UK, Misses: Germany, Spain) Asia: China Jan Caixin PMI Services registered its 9th month of …

Eurozone Inflation Jumps In Jan, Italian Politics Remain In FocusRead More

GBP/USD Outlook: Deeper Pullback Seen On Firm Break Of 20DMA

Cable stands at the back foot in early Wednesday’s trading and pressures again pivotal 20DMA support (1.3648) which holds the action since late December. Near-term bias remains negative following fresh weakness after multiple failures to clearly break 1.37 zone, although Tuesday’s action ended in long-legged Doji and signaling indecision. Daily studies point to downside risk …

GBP/USD Outlook: Deeper Pullback Seen On Firm Break Of 20DMARead More

Kiwi Rises on Job Data, Loonie Firm on Oil Price, Euro and Franc Weak

Canadian and New Zealand Dollar are both in the driving seats in the markets this week. Return of risk appetite is providing the base for rally. Meanwhile, Kiwi is lifted by stronger than expected job data while Loonie follows oil prices higher. Aussie is lagging behind on RBA, however. Euro and Swiss Franc continue to …

Kiwi Rises on Job Data, Loonie Firm on Oil Price, Euro and Franc WeakRead More

Alibaba looking to raise up to $5 billion in U.S. dollar bond issuance after earnings beat

Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Brendan McDermid | Reuters Alibaba will be taking advantage of the low interest rate environment in the U.S. right now by issuing the bonds. The company said the proceeds will be used for general corporate purposes, …

Alibaba looking to raise up to $5 billion in U.S. dollar bond issuance after earnings beatRead More

Bank Of England: Cautiously Optimistic With Negative Rates Still On The Table

When? Thursday at 12:00 noon followed by Andrew Bailey’s press conference at 12:30 What to watch? The Bank of England is not expected to move on policy when it makes its monetary policy announcement and updates the bank’s quarterly forecasts.The BoE raised its QE purchases in November to £875 billion, up from £725 billion. The …

Bank Of England: Cautiously Optimistic With Negative Rates Still On The TableRead More

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