Market Morning Briefing: Pound Seems To Be In A Range Of 1.3750-1.36
STOCKS Equities are trading higher with crucial resistances coming up. Dow looks strong to rise towards 35250 while Dax may face resistance near 15700/800 in the coming sessions. Nikkei and shanghai may rise too towards 30500/700 and 3600/3700 respectively. Nifty...
Oil Continues Rise, Gold Finds Support
Oil rally continues Oil prices are continuing to surge, with Brent crude now closing in on $80 and WTI perhaps not too far behind it. The global energy crisis could see demand for crude rise if the northern hemisphere experiences...
As China cracks down, foreign companies try to figure out where they fit in
Visitors walk on the Bund in Shanghai, China, on Friday, February 12, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Foreign companies are trying to hold on to lucrative opportunities in China, even if new regulations and the...
Fed officials say they see a pullback in their economic support even with inflation cooling
At least three Federal Reserve officials said Monday they are ready to pull back on their economic support measures even though they don’t see a threat from inflation. Speaking at separate engagements, Fed Governor Lael Brainard and regional presidents John...
Dallas Fed President Kaplan to retire early on Oct. 8, citing trading disclosure ‘distraction’
Dallas Federal Reserve President Robert Kaplan became the second regional central bank leader to resign Monday, saying he was stepping down early following a recent controversy over stock market trades he made. Kaplan’s early retirement follows an announcement earlier in...
Eurozone Economic Sentiment on the Radar; Euro Flirting with $1.17
On Wednesday at 12:00 GMT, the Eurozone’s economic sentiment for September will be released. Over the last few months, the outlook for the euro area’s economy has steadily increased; however, as the European Central Bank (ECB) is unlikely to raise interest rates soon,...
Boston Fed President Rosengren abruptly announces retirement 9 months earlier than planned
Boston Federal Reserve President Eric Rosengren announced Monday he is stepping down from his position on Thursday retiring nine months earlier than he had planned, citing health concerns. In his announcement, which came weeks after an uproar over his trading...
Michael Burry says he was subpoenaed by the SEC as GameStop saga drags on
Dado Ruvic | Reuters Famed investor Michael Burry revealed on Twitter that he received a subpoena from the Securities and Exchange Commission in connection with its investigation into GameStop, a wildly speculative stock that the “Big Short” trader once bet on....
Dollar Mildly Higher after Durable Goods Orders, Sterling Advancing in Crosses
Dollar trades mildly higher in early US session, lifted by stronger than expected durable goods orders data. But it’s being overwhelmed by both Sterling and Aussie. Commodity currencies are firmer on “stable” market sentiment, but there is no follow through...
EUR/USD Remains Neutral
On Monday afternoon, the major currency pair is steadily trading at 1.1720 without any sharp fluctuations: the “greenback” remains strong, while the Euro can’t rise despite a huge risk appetite on the market. The latest data on the American real...