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Day: March 3, 2021

Walmart says it will support U.S. manufacturers with $350 billion of added business

A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May 15, 2020. Angus Mordant | Bloomberg via Getty Images Walmart said Wednesday that it plans to back American manufacturers by spending an additional $350 billion over the next decade on items that are made, grown …

Walmart says it will support U.S. manufacturers with $350 billion of added businessRead More

USD/CHF and DXY Mending Their Broken Relationship

The Swiss Franc and the US Dollar Index (DXY) have been highly correlated this year, with a correlation coefficient above +0.90 for most of the year. The correlation coefficient of +1.00 indicates a perfect correlation, indicating that the 2 assets move perfectly together.  A reading above +0.90 is pretty close!   However, early last week, the …

USD/CHF and DXY Mending Their Broken RelationshipRead More

Shares of Rocket Companies are dropping after a 70% irrational pop in the heavily shorted name

A Reddit logo seen displayed on a smartphone with stock market prices in the background. Omar Marques | LightRocket | Getty Images Shares of Rocket Companies dropped more than 20% Wednesday following a surprise rally in the previous session, as Wall Street analysts raised red flags on the frenzy trading. The online mortgage provider’s stock …

Shares of Rocket Companies are dropping after a 70% irrational pop in the heavily shorted nameRead More

Dollar Recovers Despite Sluggish ADP Job Growth, Yields Up Again

Dollar recovers in early US session as sluggish ADP job growth drags down stock futures. Additionally, treasury yields are having a mild rebound. At this point, Sterling is following as the strongest followed the day, then Canadian. New Zealand Dollar is leading Australian Lower, followed by Swiss Franc and Yen. Eyes will now be on …

Dollar Recovers Despite Sluggish ADP Job Growth, Yields Up AgainRead More

Private payrolls growth well short of expectations for February, ADP says

Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP. Companies added just 117,000 positions for the month, well below the 225,000 forecast from economists surveyed by Dow Jones. The total also represented a sharp decline from the upward revised 195,000 jobs in January. The …

Private payrolls growth well short of expectations for February, ADP saysRead More

Mortgage application demand stalls as interest rates surge to highest level since July

Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Total mortgage application volume was essentially flat for the week, rising just 0.5% according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan …

Mortgage application demand stalls as interest rates surge to highest level since JulyRead More

European Open: Australian GDP Beats, Index Futures Point Higher

Europe is set for a positive open after sentiment remained buoyant overnight, whilst the dollar could face further pressure over the coming session/s. Asian futures: Australia’s ASX 200 index rose by 55.7 points (0.82%) to close at 6,818 Japan’s Nikkei 225 index has fallen by 135.98 points (-0.46%) and currently trades at 29,544.27 Hong Kong’s …

European Open: Australian GDP Beats, Index Futures Point HigherRead More

Aussie Supported by GDP, Dollar Turns Soft in Consolidative Markets

The markets are relatively mixed so far. Dollar’s rally attempt was brought to a halt overnight while Euro and Swiss Franc recovered. Commodity currencies also recovered, as led by Aussie, with support from better than expected GDP data. Yet, major pairs and crosses are kept in tight range. In other markets, Asian stocks rises broadly …

Aussie Supported by GDP, Dollar Turns Soft in Consolidative MarketsRead More

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