Pound Gains Bullish Traction ahead of Data Releases
British Chancellor Rishi Sunak expressed in an exclusive interview last week that post-Brexit Britain can look forward to a flourishing future as hopes and opportunities are rising again after a harsh start to the year. Following a robust employment report,...
Bumper Jobs Data Boosts GBP/USD to 1.42
The UK labour market appears to have turned a corner. The latest jobs data painted an improved picture. Unemployment unexpectedly declined to 4.8% in the three months to March, down from 4.9% in February and also its third straight monthly...
Dollar Selloff Intensifies, European Majors Winning
Dollar’s selloff intensifies today as risk-on sentiment is slowly coming back to the markets. Yen is following as the next weakest. European majors are currently the main winners. Commodity currencies are somewhat lagging behind. In other markets, European indexes are...
EUR/AUD 4H Chart: Bulls Could Prevail
The common European currency surged by 1.51% against the Australian Dollar during last week’s trading sessions. The currency pair breached the 50– and 200– period SMAs last week. All things being equal, the exchange rate could continue to edge higher...
Sterling Jumps on Reopening Optimism and Job Data, Risk Appetite Returning
Dollar and Yen are both under pressure again today, as broad based risk sentiments improved. In particular, the volatile Nikkei managed to close up more than 2%. New Zealand Dollar is leading other commodity currencies higher too. But Canadian Dollar...
Asian Open: Wall Street Edges Lower, GBP Firmer As UK Reopens
Wall Street edged lower overnight, giving back some on Friday’s strong gains, whilst yields ticked higher and the British pound was the strongest major as the UK eased lockdown restrictions. Asian Futures: Australia’s ASX 200 futures are up 11 points...
RBA Minutes Reaffirmed Likelihood of QE Expansion in July
The RBA minutes for the May minutes reaffirmed our view that further expansion in the asset purchase program would be announced later this year. The most likely timing for the announcement would be July. Domestically, the members noted that the...
Elliott Wave View: XME Should See Further Upside
Short Term Elliott Wave structure for XME (S&P Metals & Mining ETF) suggests the rally from March 25, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Wave 3 of this impulse ended at 47.27 and pullback...
Dow futures rise more than 100 points after Wall Street begins week with modest losses
Pedestrians walk past the Nasdaq in New York on Sept. 3, 2020. Xinhua News Agency | Getty Images Futures contracts tied to the major U.S. stock indexes held steady in the overnight session Monday evening after Wall Street kicked off...
Homebuilder confidence is high, but rising costs of materials present major risks
Contractors work on single-family homes under construction in the Cadence Park development of The Great Park Neighborhoods in Irvine, California, on Wednesday, April 14, 2021. Bing Guan | Bloomberg | Getty Images Strong buyer demand is keeping homebuilders confident, but...
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