AUDJPY Rockets to 44½-Month High Before Negative Forces Surface
AUDJPY has been tracing the upper Bollinger band for two weeks now, reaching a more than 3½-year high of 86.24, as the pair aims for the 86.72 barrier. The price rally, which extended above the simple moving averages (SMAs) and...
Growth Jitters Bring Risk-off into Play; Dollar’s Slide Halts
Stocks falter as risk-off returns Better-than-expected corporate earnings have been a buffer to stock markets this month, with Southwest and American airlines flagging today that even the hardest-hit industries by the pandemic can still stand on their feet despite the...
Jobless claims fall again as enhanced pandemic benefits fade away
Weekly jobless claims hit another pandemic-era low last week as the elimination of enhanced benefits sent fewer people to the unemployment line. First-time filings for unemployment insurance totaled 290,000 for the week ended Oct. 16, down 6,000 from the previous...
Yen Recovering, Swiss Franc Rises in Consolidative Markets
Markets are generally in consolidative mode today. Dollar turns weaker against Swiss Franc and Yen despite better than expected jobless claims data. But the greenback is just range bound against other major currencies. Commodity currencies are digesting near term gains...
Stocks making the biggest moves before the bell: AT&T, IBM, Crocs, Blackstone & more
Crocs store in New York City. Michael Brochstein | SOPA Images | LightRocket | Getty Images Check out the companies making headlines before the bell: AT&T (T) – AT&T rose 1.5% in premarket trading, after the company beat estimates by...
USD/CAD Decline To Continue
The US Dollar declined by 56 pips or 0.45% against the Canadian Dollar on Wednesday. The currency pair was pressured lower by the 50– hour simple moving average during yesterday’s trading session. Everything being equal, the USD/CAD exchange rate could...
Yen and Dollar Recovering as Asian Stocks Weighed Down by Evergrande
While DOW hit new intraday record high overnight, positive sentiment was not carried forward to Asia. Instead, stocks tumbled as the troubled China’s property giant Evergrande failed to close the sale of the controlling stake in its property management business....
Canadian CPI Should Solidify A BOC Taper Next Week
Canadian headline YoY CPI rose to 4.4% in September vs 4.3% expected and 4.1% in August. This is the highest reading since February 2003! In addition, the YoY Core CPI, which strips out food and energy, rose to 3.7% vs...
Stocks making the biggest moves after hours: IBM, CSX, Tesla, Lam Research & more
IBM’s logo seen displayed on a smartphone. Rafael Henrique | SOPA Images | LightRocket | Getty Images Check out the companies making headlines after the bell: IBM — The tech company saw its stock dropping more than 5% in extended...
Weekly mortgage demand drops over 6% after interest rates move even higher
Climbing mortgage interest rates caused another drop in mortgage demand for both refinances and home purchases. Total application volume fell 6.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract...
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