Australian Dollar Rises after RBA Meet
The Australian dollar has extended its rally and is trading at 0.7100. AUD/USD has had an impressive week so far, up 1.44%. RBA optimistic but cautious The RBA policy meeting did not contain any surprises and could be summarized as...
Goldman CEO Solomon sees policy, not the pandemic, as the biggest risk ahead for markets
Congress and the Federal Reserve will have more impact on what happens to the economy and markets than the pandemic, Goldman Sachs CEO David Solomon said Tuesday. Both entities have implemented never-before-seen levels of policy help totaling about $10 trillion...
BOC Preview – Reiterating Rate Hike in First Half 2022 amidst Strong Economic Data
Following a hawkish move in October, we expect the BOC to keep the powder dry this week. Policymakers should acknowledge the strong GDP growth and job market data, while cautioning over the uncertainty of the Omicron variant. They are also...
RBA Stayed Put, Cautiously Optimistic Over Domestic Economy
The RBA left the cash rate unchanged at 0.1% and the asset purchase program at AUD 4B/week. Policymakers maintained a cautiously optimistic outlook over economic recovery despite Omicron uncertainty. Again, policymakers reiterated that the next meeting (February) would be the...
US Dollar Drifting
Currency markets content to range trade Currency markets showed little reaction to the Fauci omicron comments overnight, having already put the new variant behind it to focus on the upcoming FOMC meeting next week. That sentiment saw the US Dollar...
Elliott Wave View: Rally In DAX Expected To Fail
Rally in DAX to 16299.31 ended cycle degree wave I. This completed the rally which started from March 16, 2020 low. The Index is currently in wave II to correct cycle from March 2020 low in larger degree pullback wave...
Yen Crosses Rebounding as Sentiments Turned Positive
Overtone in the markets turned positive with the strong rebound in US stocks overnight, while Asia indexes follow higher. Australian Dollar is recovering broadly after RBA stood pat and gave nothing new to the markets. On the other hand, Yen...
Stock futures are flat after a rebound in markets as investors reassess omicron risk
Stock futures were flat in overnight trading on Monday after a rebound from a rollercoaster week as investors looked past the potential impact from the new omicron coronavirus variant. Futures on the Dow Jones Industrial Average rose just 15 points....
US 500 Index Attempts to Push Higher
The US 500 stock index (Cash) is trying to recoup previously lost ground from the decline off the 4,720 level until the one-and-a-half month low of 4,494. The bearish 50- and 100-period simple moving averages (SMAs) are endorsing the pullback,...
Bank of Canada Meets as Omicron Hits Loonie
Not much is expected from the Bank of Canada when it concludes its meeting at 15:00 GMT Wednesday. The domestic economy is absolutely booming, setting the stage for several rate increases next year. However, most of that is already priced...
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