Gold In Confusion Within Tight Range
Gold is in a tight range with the 1,780 – 1,770 zone as the quick bounce from the five-month low of 1,680 was not enough to pierce a former support region and the 20- and 50-day simple moving averages (SMAs)....
Market Morning Briefing: Aussie Has Bounced Too From 0.71 In Line With Other Currencies
STOCKS Equities have recovered a bit after seeing a sharp fall last week. We may expect the bounce to hold for now and take the indices to higher levels in the near term. Dow (35120.08, +225.96, +0.65%) has bounced back...
Dollar Paring Gains as Asian Markets Rebound Despite Poor PMIs
Asian markets are staging a strong rebound today, despite poor economic data out of Japan and Australia. Investors are probably reassessing the timing of Fed’s tapering, which would be delayed by the current surge in Delta variant. Meanwhile, China reported...
PayPal launches its cryptocurrency service in the UK
PayPal has launched its cryptocurrency service in the U.K. PayPal LONDON — PayPal is launching its cryptocurrency service in the U.K. The U.S. online payments giant said Monday it would let British customers buy, hold and sell digital currencies, starting...
Sentiments Deteriorated on Delta, China and Fed Tapering
Overall market sentiments deteriorated notably last week, with concerns over the swift spread of Delta variant and return to lockdowns, Fed’s tapering and slowdown in China. A softening tone from a Fed hawk on tapering gave sentiment a late lift,...
Team Australia to the Rescue
The Reserve Bank Board next meets on September 7. The Board surprised at its August meeting by deciding to retain its policy of tapering its bond purchases under the QE program from $5 billion per week to $4 billion when...
The Weekly Bottom Line: Getting Back to Normal Isn’t Easy
U.S. Highlights As the economy continues to recover the Federal Open Market Committee’s meeting minutes signaled a tapering of its asset purchase program later this year. The retail sales report showed a larger decline in spending than had been anticipated,...
Week Ahead: Jackson Hole, Delta Variant, and China to Move Markets Next Week
Volatility returned last week as traders prepared for the Jackson Hole Symposium at the end of this week. The primary focus will be US Fed Chairman Jerome Powell’s speech on Friday at 10:00am ET. The topic is simply, “Economic Outlook”. ...
Week Ahead – Will We Have Action in Jackson?
Country US The upcoming week is all about the Federal Reserve’s symposium in Jackson Hole, Wyoming. A couple months ago, this gathering was eyed as a potential time for the Fed to formally announce its plan on tapering asset purchases,...
Fed’s Jackson Hole symposium to take place virtually due to Covid risk
The Federal Reserve’s annual Jackson Hole, Wyo., symposium will take place virtually this year due to Covid risks, the Kansas City Fed announced Friday. “While we are disappointed that health conditions will prevent us from being able to gather in...
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