Market Morning Briefing: Dollar Index Has Bounced From 90.20
STOCKS Dow and Nikkei continue to hover higher and keep alive the chances of seeing a rise to 32000 and 30000 respectively before reversing lower. DAX has bounced above 14000 but needs to breach 14200 to negate the chances of...
Commodities And Cryptos: Oil Rally Take A Break, Gold Stumbles, Bitcoin Momentum Continues
Oil Crude prices are taking a moment after the February breakout took prices above levels some analysts thought couldn’t be touched until a couple years down the road. Oil prices were unfazed from both monthly reports from the IEA and...
Fed’s Harker says inflation won’t be posing a threat anytime soon
Philadelphia Federal Reserve President Patrick Harker said Thursday that the central bank won’t have to worry about inflation getting in its way anytime soon. In a CNBC interview, Harker faced a question posed repeatedly to Fed officials in recent days...
Deficit projected at $2.3 trillion for 2021, not counting additional stimulus, CBO says
The federal budget deficit is projected to total $2.3 trillion in the 2021 fiscal year, a drop from last year but well ahead of anything the U.S. had seen prior to the Covid-19 pandemic, the Congressional Budget Office reported Thursday....
Investors Await UK GDP
The British pound is almost unchanged in the Thursday session. Currently, GDP/USD is trading at 1.3828, down 0.07% on the day. In Asia, China and Japan are closed for the Lunar New Year, resulting in a lack of movement in the...
Jobless claims worse than expected as pandemic-related filings surge
First-time claims for unemployment insurance totaled 793,000 last week as declining Covid-19 cases provided little relief for the jobs market. The total for the week ended Feb. 6 was above the 760,000 forecast from economists surveyed by Dow Jones but...
No News is Sometimes Good News: DXY, AUD/USD
Many Asian countries were closed earlier due to the Lunar New Year, resulting in slow trade. The muted session carried over to Europe and now into the US. It’s quiet. Therefore, yesterday’s themes have carried over into today’s US session,...
Uber won’t buy bitcoin with its cash but would consider accepting it as payment, CEO says
Uber CEO Dara Khosrowshahi told CNBC on Thursday the company discussed but “quickly dismissed” the idea of buying bitcoin with corporate cash like Telsa. However, Khosrowshahi said Uber would consider accepting cryptocurrencies as payment. The comments come after Tesla announced...
Biden gets 62% approval in CNBC economic survey, topping first ratings of the last four presidents
President Joe Biden is on the best presidential honeymoon since at least Bill Clinton in 1993. A special online edition of the CNBC All-America Economic Survey focusing on the Biden agenda finds his approval rating at a sky-high 62%, beating...
Dollar Selling Resumes after Jobless Claims, Yen Crosses Rising
Dollar is back in selloff mode in early US session after slightly worse than expected jobless claims numbers. Though, at the time of writing, Yen underperforms mildly. On the other hand, buying focus is back on commodity currencies today. Australian...
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