BOE Upbeat about Inflation Outlook. Negative Rate Seems Unlikely although It is Not Ruled Out
As expected, BOE left the Bank rate unchanged at 0.1%. Meanwhile, the QE program also remains at 875B pound worth of government bonds, and 20B pound of corporate debt. The economic projections reveal that policymakers are more optimistic about inflation...
NFP Preview: Reasons for Optimism?
Background After last month’s rather depressing Non-Farm Payroll report, which itself closed out one of the more depressing weeks in US weeks in US history, there are some signs that this month’s jobs report could bring cause for optimism. Most...
DXY and XAU/USD Holding Key Levels after BOE
The DXY has been on a tear lately, moving from 90.00 to 91.50 since January 22nd. Today alone the US Dollar index moved from 91.09 up to 91.485. The DXY hit resistance just as the BOE announced it was leaving...
Jobless claims better than expected last week and lowest in two months
New claims for jobless benefits came in a bit less than expected last week though U.S. employment gains remain sluggish. First-time claims for unemployment insurance totaled 779,000 for the week ended Jan. 30, the Labor Department reported Thursday. That was...
Sterling Surges in Acceleration after BoE, Euro Dives
Sterling jumps sharply after BoE indicated that it didn’t want to send a signal to the market on adopting negative rates. Dollar is also firm on overall mixed market sentiments. Thanks to the selloff against both the Pound and the...
Stocks making the biggest moves in the premarket: Canada Goose, eBay, PayPal, Qualcomm & more
Take a look at some of the biggest movers in the premarket: Canada Goose (GOOS) – Canada Goose shares surged more than 15% in the premarket after the outerwear maker beat estimates on both the top and bottom lines. Results...
GBP/USD Entering The Zonal Support
The GBP/USD has formed a retracement pattern and could be going up straight from the POC zone. The market is at support, bounce is expected. Today the BOE will decide on the rates and future monetary policy guidance. It will...
Have The Rules Changed For Trading The US Dollar?
Throughout the past several months, a risk rally ordinarily meant a weaker US Dollar. The DXY index, which measures the greenback’s value against a basket of six world currencies, slid 6.7% in 2020 recording its second worst annual performance since...
Sterling Softens ahead of BoE, Dollar Maintains Gains
Sterling softens notably today as focus turns to BoE rate decision, and more importantly the stance regarding negative interest rates. Euro and Swiss Franc remain generally weak too. New Zealand and Canadian Dollars are paring some gains as risk markets...
AUD/USD Upsides Capped, Dollar Extends Gains
Key Highlights AUD/USD declined below the 0.7650 and 0.7600 support levels. A key bearish trend line is forming with resistance near 0.7670 on the 4-hours chart. EUR/USD extended its decline, GBP/USD is struggling to stay above 1.3600. The US ADP...