Trudeau Holds On, Gold Steadies
Canadian Prime Minister Justin Trudeau called an early election in the hope of securing a majority government, but voters didn’t give it to him and instead sent back nearly an identical parliament. The Canadian dollar clawed back ground after the...
The Fed will try to soothe markets Wednesday, while preparing investors for end to bond buying
After Monday’s market turbulence, the Federal Reserve’s challenge will be to sound reassuring while acknowledging it’s preparing to make its first major step away from the easy policies it put in place to fight the pandemic. The Fed will release...
Stocks making the biggest moves midday: Uber, DraftKings, Seagen, Activision Blizzard and more
Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019. Philip Pacheco | AFP via Getty Images Check out the companies making headlines in midday trading. Uber — The ride-hailing giant saw...
US: Housing Starts Increase in August, Recouping Some of Last Month’s Drop
U.S. housing starts rose by 3.9% to 1.615 million (annualized) units in August, after declining by 6.2% in July. This exceeded market expectations for a 1.0% increase. Starts were revised up by 20k in July and 7k in June, reflecting...
Swiss Franc Jumps While Risk Aversion Eased
Risk aversion seems to have eased a bit today, with recoveries seen in European markets and US futures. Yen and Dollar have both turned into sideway consolidations. But no clear support is seen in Aussie and New Zealand, as both...
USD/ZAR Bearish SHS Pattern Formation
The USD/ZAR has made a bearish SHS formation. We should see a move down. MH3 is the right shoulder of the bearish formation. We can see the pin bar rejection at the M H3. The shooting star is the signal...
GBPUSD Slips To One-Month Low, Bias Bearish
GBPUSD retraced to an almost one-month low of 1.3640 on Monday after a multi-day battle with the 200-day simple moving average (SMA) and the 1.3840 barrier, where a dashed resistance trendline also happens to be. The pair is currently trying...
Evergrande Fears Fade Aiding USDJPY Ahead Of BoJ
As noted by Canadian Bank RBC, the share price of Evergrande has been under pressure since March, a result of the Chinese property developer colliding with a crackdown on property developers by authorities as part of a deleveraging drive. Already...
Sentiments Stabilized after Selloff, Downside Prospect for Weak Sterling
Risk sentiment appears to have stabilized in Asia a bit. The steep fall in Nikkei was just a post-holiday catch up. Yen and Swiss Franc are digesting gains but remain the strongest for the week. Sterling is indeed the worst...
Market Morning Briefing: Pound Has Bounced From 1.3640
STOCKS Short selling continues in the equities globally as most indices break immediate supports and look bearish for the next few sessions. Dow and Dax have broken below 34000 and 15400 respectively and can head towards 33500-33000 and 15000-14800. Nikkei...