Fed’s Williams say high market prices justified by economic growth and low rates
New York Federal Reserve President John Williams said Friday that high prices for stocks and other assets are justified in light of a growing economy and low interest rate landscape. With stocks pushing to new heights on valuations not seen...
Stocks making the biggest moves midday: Palantir, Applied Materials, Deere & more
The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland Januar 22, 2020. Arnd Wiegmann | Reuters Check out the companies making headlines in midday trading. Applied Materials — Shares of the chipmaker jumped more than 7%...
Taxpayers may be victims of unemployment fraud. The IRS wants to help
Samuel Corum/Bloomberg via Getty Images Many Americans will get an unwelcome surprise this tax season: the realization they were victims of unemployment fraud. Millions of workers have collected jobless benefits during the Covid pandemic. They must pay taxes on that...
Week Ahead – Dollar Realigns With US Fundamentals, RBNZ Meets
There’s been a striking change in the dynamics of the FX market lately, with the US dollar no longer trading exclusively as a safe haven and instead reacting to American economic data. Investors have their eyes on the Fed, even...
AUD/USD Breakout Out of Flag Formation; On its Way to 0.8400?
Last week, we discussed the possibility of AUD/USD making a run out of a flag pattern and towards a target of 0.8400. The move has begun, and Aussie traders will be eyeing the 0.8000 level first. So far, traders seem...
Australian Dollar Skyrockets on Surging Metal, Markets Cheer PMIs
Australian Dollar overtakes Sterling as the strongest one for the week, as supported by return of risk-mode markets. In particular, industrial metal is having strong rally with copper trading up 2% at the time of writing. Sterling shrugs off poor...
Canadian Dollar Hits 4-Week High
The Canadian dollar has posted slight gains on Friday. Currently, USD/CAD is trading at 1.2646, down 0.24% on the day. Canadian dollar closes in on 1.26 line The Canadian dollar has been creeping higher since mid-week. Earlier in the day,...
EUR/USD Bullish Reversal Indicating Start Of ABC Zigzag Pattern
The EUR/USD made a bullish bounce at the 50-61.8% Fibonacci retracement levels as expected in our EUR/USD and GBP/USD video earlier this week. The breakout above the resistance trend lines (orange) confirms the continuation of the uptrend (green arrows). The...
US 30 Index Fails To Jump To New Record High
The US 30 stock index (Cash) rebounded off the 29,642 support level, however, the current market reaction is flat around the record high of 31,718.90. The technical indicators are suggesting contradicting signals. The RSI is moving marginally higher in the...
Gold 1-2-3s Are The Best Trades So Far
The downside potential of Gold is big. Gold has been the best so far to trade as short traders enjoyed very good profits. Gold is in a strong bearish zig zag downtrend. We should see a continuation down to the...