Month: November 2021
Omicron Introduces New Risks For Global Economy
Summary The recently detected Omicron COVID variant has injected new risks into the global economy. In this report, we lay out our base case scenario for the global economy and currency markets amid the early onset of Omicron cases. We also provide a downside scenario should Omicron-related conditions intensify as well as a what an …
Canadian Economy Rebounds in the Third Quarter
Real GDP rose by 5.4% (annualized) in the third quarter, above the consensus call for 3.3%. This left economic output 1.4% below its pre-pandemic (2019-Q4) level. In nominal terms, GDP increased by 8.9% in the third quarter. Statistics Canada also introduced historical revisions in today’s release that showed the economy contracted by 3.2% in the …
Here’s why unemployment claims hit their lowest level since 1969
Recruiters speak with potential applicants during a job fair in Leesburg, Virginia, on Oct. 21, 2021. ANDREW CABALLERO-REYNOLDS | AFP | Getty Images Claims for unemployment benefits dipped to their lowest point in more than 50 years the week before Thanksgiving — a remarkable rebound from the nosebleed levels earlier in the Covid-19 pandemic. The …
Here’s why unemployment claims hit their lowest level since 1969Read More
Risk Selloff Resumes on Omicron, Dollar Vulnerable Against Euro and Yen
Selloff in stock markets resume today, after Moderna Chief Executive Stéphane Bancel foresaw “material drop” in effectiveness of current vaccines on Omicron. Benchmark treasury yields also tumble sharply on safe haven flows. In the currency markets, Canadian Dollar lead commodity currencies lower, as oil price tumble. Dollar is dragged down by steep falling in treasury …
Risk Selloff Resumes on Omicron, Dollar Vulnerable Against Euro and YenRead More
Ray Dalio says cash is not a safe place right now despite heightened market volatility
Bridgewater Associates’ Ray Dalio stood by his belief that cash is not the place to be despite the volatility in the markets triggered by the new omicron Covid variant. “Cash is not a safe investment, is not a safe place because it will be taxed by inflation,” the founder of the world’s biggest hedge fund …
Ray Dalio says cash is not a safe place right now despite heightened market volatilityRead More
US 500 Extends Decline From All-Time High As Bullish Forces Wane
The US 500 stock index (cash) keeps trending upwards in the long term picture, creating a profound structure of higher highs and higher lows. However, in the four-hour chart, the index has been giving up ground since its rally halted at the new record high of 4,743. This recent pullback is likely to continue as …
US 500 Extends Decline From All-Time High As Bullish Forces WaneRead More
US Dollar Index: Weekly Shooting Star And Bull-Trap Generate Initial Reversal Signal
The dollar index is holding in red for the third straight day and extending pullback from new multi-month high at 96.92. Bears gained control after the news that new variant of coronavirus was detected last Friday, with narrower range on Monday preceding fresh acceleration lower on Tuesday. Key supports at 95.52/43 (Fibo 38.2% of 93.24/96.92 …
US Dollar Index: Weekly Shooting Star And Bull-Trap Generate Initial Reversal SignalRead More
Rolling back U.S.-China tariffs would ease inflation in the U.S., former Treasury secretary says
Eliminating tariffs imposed on goods during the worst of the trade war would help ease inflation in the U.S., former Treasury Secretary Jacob Lew told CNBC on Tuesday. But there’s currently “no political space” to do so, he said on CNBC’s “Street Signs Asia.” “I think that the United States and China have deep differences. …
Elliott Wave View: Five Swing Sequence In NZD/USD Favors Downside
NZDUSD broke below August 20, 2021 low (0.6805) and now shows a 5 swing sequence from February 25, 2021 high favoring more downside. A 5 swing sequence is an incomplete sequence and needs another leg lower to end 7 swing. Short term, cycle from October 21, 2021 high is in progress as a 5 waves …
Elliott Wave View: Five Swing Sequence In NZD/USD Favors DownsideRead More
Dollar and Yen Stay in Consolidation, Awaiting Next Move
Overall market sentiment is stable, with major Asian indexes mixed, following the recovery in US stocks overnight. Yen and Dollar soften slightly after turning into consolidations, but Swiss Franc is still strong. Commodity currencies are mixed with no follow through buying with the current rebound attempt. In other markets, Gold is struggling in tight range …
Dollar and Yen Stay in Consolidation, Awaiting Next MoveRead More
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