Week Ahead: Central Banks Galore and More Jobs Data!
There are a host of central bank meeting this week to focus on, including the RBA on Tuesday, the BOC on Wednesday, and the ECB on Thursday! After the markets got slapped in the face by Non-Farm Payrolls, traders and...
Big Miss to NFP, Will it Keep the Fed on Hold?
The Non-Farm Payroll headline print for August was unexpected to say the least. The US economy added just 235,000 jobs to the economy vs 750,000 expected. The July revision from 943,000 to 1,053,000 was hardly a consolation given the large...
Didi jumps nearly 10% this week amid report of Chinese government taking it over
Budrul Chukrut | LightRocket | Getty Images Shares of Didi posted near double-digit gains this week amid a Bloomberg News report that Beijing is eyeing a plan to take the troubled ride-hailing giant under state control by acquiring a stake...
3.2 million Americans are still long-term unemployed as benefits are set to expire
OLIVIER DOULIERY | AFP | Getty Images More than a third of jobless Americans in August were long-term unemployed as benefits for these workers are set to expire. About 3.2 million people — or 37.4% of the total unemployed —...
Jobs report disappoints — only 235,000 positions added vs. expectations of 720,000
Job creation for August was a huge disappointment, with the economy adding just 235,000 positions, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for 720,000 new hires. The unemployment rate dropped to 5.2% from 5.4%,...
Stocks making the biggest moves midday: Didi Global, Nvidia, PagerDuty and more
Visitors crowd around the Nvidia booth at the 2016 China Digital Entertainment Expo, known as ChinaJoy, in Shanghai. STR | AFP | Getty Images Check out the companies making headlines in midday trading. Didi Global — Shares of the Chinese...
Forward Guidance: BoC to Parse Weak GDP Reports, Persisting Virus Risks
The Bank of Canada was likely as surprised as everyone else about a disappointing round of Q2 GDP data – and an even more surprising drop in July output as the economy was reopening from spring lockdowns. That left GDP...
Joseph Stiglitz says it’s time to rewire the U.S. economy: ‘We shouldn’t let a good crisis go to waste’
U.S. economist Joseph Stiglitz believes now is a good time to rewire the U.S. economy, arguing that “we shouldn’t let a crisis go to waste.” The former senior vice president and chief economist of the World Bank said on Thursday...
Dollar Spikes Down after Huge NFP Miss, Gold Upside Breakout
Dollar spikes lower in early US session after huge NFP miss. But the selloff is only firm against commodity currencies at the time of writing. In particular, the greenback is trying to recovery against European majors, as well as Sterling....
EUR/USD Outlook: Broke Key 1.1820 Resistance Zone to Move into a Bullish Zone
The Euro started a fresh increase above the 1.1800 resistance zone against the US Dollar. The EUR/USD pair broke the key 1.1820 resistance zone to move into a bullish zone. The pair even cleared the 1.1850 zone and settled above...