Mortgage rates shoot higher after Fed Chairman Powell’s comments
The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a reaction to comments made Wednesday by Federal Reserve Chairman...
Gold Crashes Below $1800: What a Difference a Week Makes!
Oh how quickly things can change! This time last week, gold bulls were riding high, with the yellow metal trading near a 5-month high after a couple-month run outperforming other safe haven and store of value assets…until the script flipped...
New Zealand Dollar Tumbles to 70 on FOMC
The New Zealand dollar continues to lose ground on Thursday, in the after-shock of the FOMC policy meeting. In the North American session, NZD/USD is trading at 0.7005, down 0.60% on the day. FOMC moves up timeline for rate hikes...
US 30 Index Retreats Below SMAs in Short-Term
The US 30 (Cash) index posted a negative correction movement after it topped at 34,881 in the beginning of the month. The price also declined below the 20- and 40-day simple moving averages (SMAs) and is holding in the Ichimoku cloud. The RSI...
US Open: Wall Street Set to Extend Losses after the Fed’s Hawkish Shift
Stocks are sent to open lower and the USD builds on gains after the Fed surprised the market with a hawkish shift. Jobless claims rose for the first time since April. US futures Dow futures -0.34% at 339213 S&P futures...
Jobless claims show surprise increase to highest level in a month
Initial jobless claims unexpectedly rose last week despite an ongoing recovery in the U.S. employment market, the Labor Department reported Thursday. First-time filings for unemployment insurance for the week ended June 12 totaled 412,000, compared with the previous week’s 375,000....
JPMorgan is buying UK robo-advisor Nutmeg to boost overseas retail banking expansion
Sign for J.P. Morgan on 7th March 2020 in London, United Kingdom. JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York. Mike Kemp | Getty Images LONDON — JPMorgan Chase...
Dollar Power Continues, But Yen Trying to Overtake
Dollar’s post-FOMC strength continues to overwhelm the markets today. Though, Yen is also catching up as US futures point to a weak open. Selling in commodity Yen crosses is also helping the Japanese currency. Swiss Franc is currently the worst...
The Fed moves up its timeline for rate hikes as inflation rises
The Federal Reserve on Wednesday considerably raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates. However, the central bank gave no indication as to when it will begin...
EURUSD 1.2000 Must Hold
The euro currency is appearing very bearish against the US dollar as the greenback gains ground after a more hawkish policy speech from the Federal Reserve than expected. The EURUSD pair is approaching the 1.2000 level which marks the top...