The biggest threat to Biden’s hot economy could be his own policies
U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lamarque | Reuters Halfway through 2021, and about six months into the...
Pound Drifting ahead of Manufacturing PMI
The British pound is almost unchanged on Wednesday. In the European session, GBP/USD is trading at 1.3838, down 0.01% on the day. British GDP, which was released earlier today, was a yawner as far as the British pound was concerned....
AUD/USD: New Virus Spread and Soured Risk Sentiment Keep Aussie Dollar Under Increased Pressure
The Australian dollar remains in red and hit new lowest in over one week on Thursday, following Wednesday’s 0.74% drop. Spread of new coronavirus Delta variant triggered fresh restrictions across Australia that further soured risk sentiment, adding to negative tone....
EUR/GBP Outlook: Bulls Continue to Struggle at Daily Cloud Base/Bear-Channel Upper Boundary
Near-term action remains limited by daily cloud (spanned between 0.8595 and 0.8633) for the fourth consecutive day, as repeated penetrations into the cloud were so far short-lived. Upside was additionally limited by the upper trendline of bearish channel from 0.8671...
As housing boom begins to fizzle, weekly mortgage demand falls nearly 7%
Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to the Mortgage Bankers Association’s...
US Open: Futures Decline as ADP Payrolls Beat
US futures ease back from record highs. ADP beats forecasts at 692k, but investors wary ahead of Friday’s NFP. US futures Dow futures -0.17% at 34237 S&P futures -0.13% at 4286 Nasdaq futures -0.09% at 14562 In Europe FTSE -0.5%...
Dollar Up on ADP Job Data, Sterling Lifted by BoE Haldane
Dollar and Loonie rise in early US session after better than expected economic data. Sterling follows closely after hawkish comments from BoE chief economist. As for today, Swiss Franc is currently the worst performing, followed by New Zealand and than...
Biden’s infrastructure plan would cut U.S. debt and slightly increase economic growth, Wharton study finds
U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lemarque | Reuters A bipartisan infrastructure deal reached by President Joe Biden...
Stocks making the biggest moves in the premarket: Virgin Galactic, Bed Bath & Beyond, MongoDB & more
Take a look at some of the biggest movers in the premarket: Virgin Galactic (SPCE) – The space transportation company’s stock dropped 3% in premarket trading, after Bank of America Securities double-downgraded the stock to “underperform” from “buy.” BofA notes...
BTCUSD Now Bullish
Bitcoin has moved above its technically important 200-period moving average on the four-hour time frame, around the $36,000 level. If BTCUSD bulls can keep up the upside attack then further gains towards the $40,000 resistance level remains possible this week....