Jobless claims hit new pandemic-era low in a sign of hope for the employment picture
First-time filings for unemployment insurance hit a pandemic-era low last week, a sign that the jobs market is improving heading into the fall despite worries over the delta Covid variant. Jobless claims for the week ended Aug. 14 totaled 348,000,...
Jittery Markets Post-Fed
It’s been a very strange start to trading on Thursday, with stock markets suffering heavy losses as the rotation into safety gathers significant pace following the release of the Fed minutes. It’s easy to point to the Fed minutes as...
Dollar, Yen and Franc in Three-Horse Race as Risk Aversion Intensifies
Selloff in commodity currencies intensifies today as risk sentiment turn sour again. Major European indexes are all in deep red while US futures point to lower open. Yen, Swiss Franc and Dollar are taking turns to be the strongest one...
AUDUSD Tumbles To New 9-Month Low
AUDUSD has reached a new nine-month low of 0.7174, which holds beneath the significant 200-week simple moving average (SMA). The negative structure in the price is confirmed by the technical indicators. The MACD oscillator decreased beneath its trigger line in...
The Dollar Has Fought Its Way Up, The Rally Is Just Beginning
Global equity markets strengthened their decline, and the dollar gained momentum after Fed minutes indicating a readiness to start QE tapering as early as this year. The dollar index rose to its highest level since November 2020, surpassing the reversal...
Dollar Rises Again on Risk Aversion, Aussie Weak after Job Report
Dollar rises broadly again risk sentiment turned sour again. While Yen and Swiss Franc are still firm elsewhere, the greenback has overtaken their top position for the week. Meanwhile, commodity currencies remain the worst performing ones, as led by New...
Hard lesson for U.S. investors: Chinese companies don’t make the rules in China
Beijing office towers, including Alibaba’s, are illuminated with Chinese characters reading ‘blessing to China’ to celebrate National Day in October 2020. Zang Zhihao | Visual China Group | Getty Images BEIJING — American investors’ shock at an ongoing regulatory crackdown...
Federal Reserve preparing for taper this year, July minutes show
Federal Reserve officials at their July gathering made plans to pull back the pace of their monthly bond purchases likely before the end of the year, meeting minutes released Wednesday indicated. However, the summary of the July 27-28 Federal Open...
Mortgage rates hit their highest level in a month, and weekly demand drops
Prospective home buyers arrive to tour a house for sale in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images Borrowers backed away from the mortgage market last week, as higher interest rates chilled a recent revival in refinances. The...
Caution ahead of Fed Minutes
A day of caution in the markets, with Europe a mixed bag and the US opening marginally lower as we await FOMC minutes later in the session. Given how much Fed commentary we’ve had over the last couple of weeks,...
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