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...
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...
New Zealand Dollar Slips
The New Zealand dollar is down considerably in Wednesday trading. Currently, NZD/USD is trading at 0.7245, down 0.65% on the day. New Zealand dollar stabilizes The New Zealand dollar finds itself in calm waters this week, after taking the market...
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...
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...
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...
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...
EUR/USD Bullish ABC Zigzag Aims At Fibonacci Targets
EUR/USD is showing signs of indecision: the bearish price action was stopped at the 1.20 support level and trend lines (green). What is going on with this pair? The bullish bounce was strong at 1.20. This suggests a wave A...
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...
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...
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