Market Sentiments Saved by Strong PMIs, Dollar Staying Firm
Asian markets closed in deep red earlier today while European stocks dived in initial trading. Yet, the markets were saved by much stronger than expected PMI data out of Eurozone and UK. Overall sentiments recovered notably, with US futures pointing...
Pound Dips On Soft Inflation
The British pound is in negative territory in the Wednesday session. Currently, GDP/USD is trading at 1.3709, down 0.32% on the day. Pound struggling to stay above 1.37 The British pound remains under pressure, as GBP/USD fell below the 1.37...
USD/JPY Shallow Wave-4 Correction Indicates Bullish Targets At 110
USD/JPY is creating a sideways correction after a massive impulse upwards (blue arrow). The bulls are expected to push price action even higher. The USD/JPY bullish momentum is probably a wave 3 (grey). The strong AO (awesome oscillator) and ecs.MACD...
Selloff in Asia Intensifies, Aussie and Kiwi Accelerate Down
New Zealand and Australian Dollar accelerates lower today as selloff in Asian stocks intensify. The development came on renewed concern over the third wave of coronavirus infections in Europe and return to lockdown. News regarding vaccines were also negative, as...
USD/CAD Approaches Key Resistance, Dollar Gains Momentum
Key Highlights USD/CAD recovered nicely above the 1.2450 and 1.2500 resistance levels. A crucial bearish trend line is forming with resistance near 1.2600 on the 4-hours chart. EUR/USD and GBP/USD remain in a bearish zone below 1.1950 and 1.3900 respectively....
One year after Covid-19 market bottom, Canaccord Genuity’s Tony Dwyer says stocks are in ‘no man’s land’
Canaccord Genuity’s Tony Dwyer is temporarily dialing back his appetite for stocks. On the one-year anniversary of the Covid-19 bottom, he’s telling investors the market is in “no man’s land.” “We’re in this period where the Russell 1000 growth mega...
New home sales take a hit as builders grapple with big delays and bigger costs
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sales of newly built homes fell more...
Fed sets up panels to examine risks that climate change poses to the financial system
The Federal Reserve has taken another step forward in efforts to ensure that the financial system is protected against climate risks. As the central bank turns its attention increasingly toward the matter, the Fed has created a Financial Stability Climate...
Stocks making the biggest moves midday: Peloton, AstraZeneca, Boeing & more
A Peloton Interactive Inc. logo on a stationary bike at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Microsoft —...
Aussie Falls on Risk-off Mode but Huge US C/A Deficit Weighs on Greenback
The Australian dollar fell to two-week low on Tuesday, pressured by fresh risk-off mode as new Covid lockdowns and worries about vaccination slowdown boost concerns about global growth while a number of countries impose sanctions on China officials, adding to...
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