AUD/USD Rebound Cools Off
The Australian dollar fell back after a drop in July’s retail sales numbers. A close above 0.7270 has forced sellers to cover their bets. The pair is recovering towards the 30-day moving average on the daily chart which coincides with...
USD/JPY About To Test Resistance
The Japanese yen weakened after a lower-than-expected Tokyo CPI in August. The US dollar is grinding its way back up after the mid-month correction. A double test at 109.50 suggests strong buying interest. Layers of support indicate buyers’ willingness to...
The pressure is on for Powell and the Federal Reserve to manage the exit from ultra-easy policies
Federal Reserve Chair Jerome Powell testifies during a U.S. House Oversight and Reform Select Subcommittee hearing on coronavirus crisis, on Capitol Hill in Washington, June 22, 2021. Graeme Jennings | Pool | Reuters For the Federal Reserve, implementing the easiest...
Markets Mixed as More Fed Comments Awaited, Sterling Softens
Overall markets continue to trade in a mixed manner for now. Yen and Dollar are currently the weakest for the weak while commodity currencies are the strongest. But all major pairs and crosses are stuck inside prior week’s range. The...
Fed Members Comment Ahead Of Powell’s Speech: Tapering Is Coming
It’s no secret that St. Louis Fed President James Bullard has been a leading the charge for the Fed to begin tapering it bond purchases. However, with markets on pins and needles ahead of tomorrow’s speech by Fed Chairman Powell...
Stock futures are flat ahead of Fed’s Jackson Hole symposium
Traders on the floor of the New York Stock Exchange. Source: NYSE Stock futures are flat in overnight trading Thursday ahead of the Federal Reserve’s annual Jackson Hole symposium with investors looking for more details into the central bank’s plans...
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...
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