Bitcoin Selloff is Good News for EUR/AUD and EUR/NZD Longs
Bitcoin was our Chart of the Week in the Week Ahead on Friday. We noted that the cryptocurrency was pulling back from its April 14h highs in what could be considered a corrective manner. At the time, BTC was in...
Stocks Fall on Inflation Data and Surging Yields, Dollar Recovering Mildly
Global equities are under selling pressure today with another round of rise in treasury yields. In particular, Germany 10-year yield jumped above -0.1% handle and hit the highest level since mid-2019. The development came after stronger than expected inflation reading...
GBPJPY Struggles to Surpass 39-Month High
GBPJPY came close to breaking the 39-month high of 154.80, in the previous sessions, but is still fluctuating sideways. According to the RSI, the market could maintain a weak momentum in the short-term as the indicator is flattening above its neutral...
Stocks making the biggest moves in the premarket: Target, Lowe’s, MicroStrategy, CarMax & more
Take a look at some of the biggest movers in the premarket: Target (TGT) – Target earned $3.69 per share for the first quarter, well above the $2.25 a share consensus estimate, with revenue also above analysts’ projections. Comparable-store sales...
Europe Heads Lower On Inflation Fears, Weaker Commodity Prices
European markets are trading sharply lower on Wednesday, after a late sell-off on Wall Street. Inflation fears continue to haunt the market, while a sell-off in commodities sends resource stocks southwards. Wall Street experienced a significant sell-off, led southwards by...
Market Morning Briefing: Dollar Index Has Broken Below 90
STOCKS Asians are trading weak. Nikkei has failed to break above 28500 and keeps the bearish view intact. Shanghai has to sustain above 3500 to breach 3525 and rise further. Sensex and Nifty have closed higher yesterday but have to...
Dollar Staying Weak ahead of FOMC Minutes, Canadian Dollar Lost Momentum
Dollar’s decline slowed in Asian session today, but remains generally weak, in particular against European majors. Though, indecisive risk sentiment is somehow limiting upside in commodity currencies, with Canadian Dollar following oil prices lower today. There is prospect of more...
Cryptocurrencies are close to reaching a big milestone versus gold by one Wall Street firm’s count
Crypto bulls have long championed bitcoin as a modern-day replacement for gold, and by one measure, the new market is already close to surpassing bullion in that respect. The total value of the cryptocurrency market now stands above $2 trillion,...
Yellen pushes higher taxes, stronger unions, more global competition to U.S. Chamber
Secretary of the Treasury Janet Yellen speaks during a daily news briefing at the James Brady Press Briefing Room of the White House May 7, in Washington, DC. Alex Wong | Getty Images Treasury Secretary Janet Yellen called on Tuesday...
EURCHF Bearish Pressures Fumble ahead of 1.0900 Defences
EURCHF has faded from the near 20-month peak of 1.1151 below the Ichimoku cloud but negative momentum seems to be dwindling around the 100-day simple moving average (SMA) at 1.0943. The 100- and 200-day SMAs are shielding price improvements, while...
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