Oil In Search Of A Bears’ Pain Threshold
The stock and currency markets have been weak since the beginning of the week, with little major reason to move in any direction. Active players on stock and FX markets pause to assess the situation, but Oil continues climbing. Over...
XAUUSD $1,915 Must Break
Gold is still struggling to overcome the $1,900 resistance level in mid-week trading as market participants await the US CPI inflation later today. The four-hour time frame shows that bulls must break the $1,915 level soon or the price of...
Canadian Dollar Leading Commodity Currencies Lower, BoC Next
Global financial markets are generally treading water this week so far. Trading in the forex markets is also subdued. Canadian Dollar is currently leading other commodity currencies lower, awaiting BoC policy decision today. On the other hand, Swiss Franc is...
ECB Preview – Extending Current Pace of PEPP Purchases for 3 More Months
The focus of this week’s ECB meeting is the outlook of PEPP purchases in the second half of the year. Although the Eurozone’s economy has improved, while the vaccination progress has accelerated, since the last meeting, we expect policymakers to...
Stock futures are flat as S&P 500 remains range-bound near record
Traders work on the floor of the New York Stock Exchange. NYSE Stock futures were flat in overnight trading on Tuesday after Wall Street appeared range-bound near its record levels. Futures on the Dow Jones Industrial Average were little changed....
Job openings set record of 9.3 million as labor market booms
Job openings in April soared to a record 9.3 million as the economy rapidly recovered from its pandemic depths. The standard set in April was well above the 8.3 million in March that itself was a new high going back...
Japanese Yen Edges Lower on GDP Decline
The Japanese yen is slightly higher in Tuesday trade. In the North American session, USD/JPY is trading at 109.47, up 0.20%. The week started with a data dump out of Japan. The highlight was GDP for the first quarter, which...
U.S. trade deficit narrows slightly from record levels as Covid-era demand for imports lets up
The CMA CGM Marco Polo, an Explorer class container ship crosses under the Verrazzano-Narrows Bridge, to enter New York Harbor as seen from Brooklyn, New York, U.S., May 20, 2021. Brendan McDermid | Reuters Americans’ demand for imports abated in...
USD/JPY: Dollar Finds Ground after Post-NFP Fall; US Inflation Data in Focus
The dollar regained traction on Tuesday after strong fall in past two days, sparked by softer than expected US jobs data, found footstep at 109.20 zone (Fibo 38.2% of 107.47/110.33/ converged 30/55DMA’s). The pullback from new two-month high at 110.33...
Swiss Franc Rises Broadly, Sterling Weakens
Swiss Franc jumps broadly in otherwise quiet markets today. Canadian Dollar is second strongest, then Dollar, but both are staying inside yesterday’s ranges. Sterling is currently the worst performing one, followed by New Zealand Dollar and then Yen. But the...
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