USDCHF Echoes Bearish Objectives with its Deep Pullback
USDCHF is trying to break below the 200-day simple moving average (SMA) around the 0.9085 mark, a point at which the 100-day SMA is currently trying to complete a bullish crossover. The 50- and 100-day SMAs are promoting a neutralising...
BoE Slows Pace of QE but Pound Yawns
In Thursday trade, the pound lost ground but has recovered. In the North American session, GDP/USD is trading at 1.3898, down 0.02%. BoE to slow pace of QE The Bank of England announced at its policy meeting that it would...
BOE Predicts Economy to Expand at Strongest Pace since WWII; Announces QE Tapering from this Month
At today’s meeting, the BOE voted unanimously to leave the Bank rate unchanged at a record low of 0.1%. Meanwhile, the central bank voted 8-1 to keep the asset purchase program at 895B pound, of which 875B pound is government...
Jobless claims tumble below 500,000 in another sign the labor market is getting closer to pre-pandemic levels
The U.S. employment picture improved sharply last week, with first-time claims for unemployment insurance dipping below 500,000 for the first time since the pandemic crisis. Initial claims totaled 498,000 for the week ended May 1, against the Dow Jones estimate...
Inflation Risk Supports Gold and Silver
An increasing number of companies gave warning for supply shortage which force them to raise prices. Manufacturers and producers from various industries such as semiconductors, lumber and cotton scramble to replenish stockpiles to keep up with demand and higher input...
Swiss Franc and Euro Rise in Mixed Market, Little Reaction to Jobless Claims and BoE
Swiss Franc and Euro jump in overall mixed markets. There were little reaction to better than expected job data from the US. BoE’s slowing of asset purchases, and surprising voting prompted brief rally in the Pound, but there is no...
Why married couples must wait for tax refunds on $10,200 of unemployment benefits
Samuel Corum/Bloomberg via Getty Images It’s unclear how many taxpayers will get a refund and what share of them are married. Roughly 40 million people collected unemployment benefits in 2020, according to the Century Foundation. It’s also unclear when the...
GBP/USD: Could BoE Trigger Break Of 1.4 Handle?
The focus is turning to the Bank of England with the central bank meeting due at 12:00 BST. Investors will be wondering whether Andrew Bailey and his MPC colleagues will start turning more hawkish amid improvement in data and ongoing...
USOIL Rises Above Major Resistance
WTI crude price consolidates gains as US inventories slash another 8M barrels. By clearing the resistance at 66.30, a major level from the previous sell-off the price action has signaled a bullish continuation. March’s high at 67.90 would be a...
Aussie Mildly Lower on Tensions with China, Sterling Steady ahead of BoE
Australian Dollar trades generally lower today, after China announced to “indefinitely” suspended all activities under the China-Australia Strategic Economic Dialogue. But the spike on Aussie was relatively shallow and short-lived. Traders are quick to remember that the tariffs by China...