Day: December 21, 2021
US PCE Inflation Expected to Jump; Fed’s Hawkish Turn Relieves Markets
The US dollar has been roaring lately, capitalizing on the risk-off sentiment in the markets caused by the Omicron variant. This week, dollar bulls will be closely eyeing the barrage of the last major US data releases of the year. More specifically, the core Personal Consumption Expenditure (PCE) price index is out at 13:30 GMT …
US PCE Inflation Expected to Jump; Fed’s Hawkish Turn Relieves MarketsRead More
Risk Sentiment Flip-Flops, Canadian Dollar Shrugs Retail Sales
Risk sentiment continues to flip-flop in pre-holiday markets. Major European indexes and US futures are trading slightly higher. Swiss Franc, Yen and Dollar are all trading generally lower, while Kiwi and Aussie are trading higher with Sterling. Canadian Dollar appears to be getting little support from better than expected retail sales data. Technically, gold appears …
Risk Sentiment Flip-Flops, Canadian Dollar Shrugs Retail SalesRead More
EUR/USD Finds Support In Pivot Point
Since mid-Monday, the EUR/USD has been fluctuating between the support of the weekly simple pivot point at 1.1276 and the resistance of the 1.1302/1.1305 zone. In the case that the rate drops below the weekly simple pivot point at 1.1276, a potential decline would have no support as low as the December low level zone …
Risk Sentiment Recovers
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USD/TRY Outlook: Lira Has Registered The Record One-Day Rally On President Erdogan’s
USDTRY was the top performer on Monday and early Tuesday, in a generally slowing pre-holiday market, shook strongly twice by the comments from Turkish President Erdogan. The currency accelerated to new historical low against the US dollar below 18 mark after Erdogan announced on Sunday possible implementation of Islamic doctrine, which avoids high interest and …
USD/TRY Outlook: Lira Has Registered The Record One-Day Rally On President Erdogan’sRead More
US 30 Struggles For Support
The Dow Jones retreated as major countries imposed curfews ahead of the holiday season. Following a double top under 36200, a drop below 35450 has broken buyers’ attempt to resume the rally. The index is struggling to hold above the base of the December recovery (34800) which coincides with the 61.8% Fibonacci retracement level of the rally …
Yen Mildly Lower as Asia Rebounds, Canadian Dollar in Weak Recovery
Yen trades mildly lower today, as Asian markets recover despite the steep fall in US overnight. Swiss Franc and Dollar are also soft. On the other hand, commodity currencies are all recovering mildly, but momentum is weak. Overall, the forex markets are still hesitating to break out from recent range, with the exception of Canadian …
Yen Mildly Lower as Asia Rebounds, Canadian Dollar in Weak RecoveryRead More
‘Santa rally’ won’t rekindle due to omicron risks and profit-taking, PNC Financial’s CIO predicts
PNC Financial is throwing cold water on the fourth-quarter rally. Covid omicron fears will take a heavy toll on risk appetites over the next two weeks, according to Chief Investment Officer Amanda Agati. “We’ve already gotten the Santa rally,” she told CNBC’s “Trading Nation” on Monday. “We’re seeing a little bit of investor fatigue here.” …
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Finance news
 CEO outlook dims sharply, with more than half expecting a recession ahead, survey showsCorporate executives are taking a dim view of their prospects, with a majority now expecting ... Read More  Stock futures are little changed ahead of key inflation readingStock futures were little changed in overnight trading Tuesday ahead of a key inflation reading.Futures ... Read More  From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting businessFactories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site ... Read More |
