WTI Oil Futures Rebound Stumbles at 68.00; Upside May Be Over
WTI oil futures are struggling to maintain their positive momentum after meeting resistance in the 68.00 area. The rebound from Monday’s three-month low of 61.77 appears to be stalling with prices testing the 20-day moving average (MA) around 67.55 today....
Weekly jobless claims hold around pandemic-era low; GDP revised higher to 6.6%
Initial claims for unemployment insurance were little changed over the past week, hovering around coronavirus pandemic-era lows as the jobs market shows further signs of healing. First-time filings totaled 353,000 for the week ended Aug. 21, a slight increase from...
Pound Dips ahead of Powell Speech
The British pound continues to have a relatively quiet week. GBP/USD is currently trading at 1.3728, down 0.28% on the day. All eyes on Powell speech Fed Chair Jerome Powell will be the center of attraction at the Jackson Hole...
Swiss Franc Falls Broadly While Euro Firms Up, Dollar Cautious
Swiss Franc drops sharply today, as pressured by selling against Euro, and rising treasury yields. Dollar once again tries to recover, but there is no committed buying yet. The greenback traders will carefully scrutinize the comments from Fed officials coming...
Fed’s Esther George says it’s time to start easing off on policy juice
Kansas City Fed President Esther George told CNBC that the economy has reached the point where the central bank can start to pull back on the monetary juice it has been providing. First up for the Fed will be reducing...
Elliott Wave Analysis: EUR/USD Looks To Move Higher
Markets are slow ahead of Powell’s speech. USD Index is trading lower. EURUSD – Sooner or later bulls may become stronger. Markets are slow ahead of Jackson Hole Symposium, waiting on Chair Jerome Powell’s speech when he may give us...
AUDUSD Advances Towards Familiar Resistance
AUDUSD has been on the rise since the confirmation of a bullish morning star candlestick pattern, which foresaw the start of a new bullish round last Friday, but another challenge is currently displaying on the radar. Particularly, the price needs...
Chinese baijiu liquor stocks tumble amid regulatory concerns
Signage for China Kweichow Moutai Distillery Co. baijiu liquor lines a road at the company’s facility in the Maotai section of the Renhuai District in Zunyi, Guizhou Province, China, on Thursday, April 7, 2011. Nelson Ching | Bloomberg | Getty...
Today It’s All About The ECB
Markets The ECB awoke from the summer slumber with two opposing speeches yesterday. VP de Guindos said the economy again surprised positively and expects the September forecasts to be revised upwardly. He added that when the economy gets back to...
Yen Falls on Rising US Yields, Dollar Soft Again
Another round of selling was seen in Dollar overnight, as US stocks extended record run. But Yen was even weaker, following the strong rally in treasury yields. It remains to be seen if investors are already starting to position themselves...