GBP/USD Outlook: Bulls Hold Grip Despite Weak GDP And Pressure Key 1.39 Resistance Zone
Cable extends strong advance into the second straight day as bulls ignored weak July GDP data but remain underpinned by weaker dollar and BOE’s 4-4 split on possible rate hike, ahead of central bank’s Sep 23 policy meeting. The action...
NZD/JPY Breakout Could Occur
The NZD/JPY currency pair has been trading in an ascending channel pattern since August 20. The New Zealand Dollar has surged by 4.90% against the Japanese Yen during this period. Currently, the exchange rate is trading near the lower boundary...
CAD/CHF Two Scenarios Likely
Since this week’s trading sessions, the Canadian Dollar has declined by 82 pips or 1.12% against the Swiss Franc. The currency pair tested the lower boundary of an ascending channel pattern at 0.7226 on September 9. Everything being equal, the...
EUR/USD Analysis: Passes Resistance Of SMAs
On Friday morning, the EUR/USD currency exchange rate passed the resistance of the 55, 100 and 200-hour simple moving averages and reached the 1.1850 level. In the near term future, the currency exchange rate could test the resistance of the...
US 30 Struggles To Rebound
The Dow Jones 30 recoups losses over new low jobless claims. Price action’s struggle near the top at 35630 suggests a lack of commitment for a new high. The subsequent drop below the consolidation range (35200) has prompted short- term...
Focuses Turn to UK GDP and Canada Jobs for Guidance
Overall, the forex markets are rather mixed as we’re heading towards the weekend. Euro is staying weak in European crosses, but selling slowed against Dollar and Yen. Meanwhile, commodity currencies are trading mildly higher, but remain the worst performers for...
Covid waves will hit the global supply chain for two years, Reagan economist warns
The semiconductor shortage is affecting consumers’ ability to buy cars, smartphones and virtually all electronics — and there may be little relief in sight. According to economist John Rutledge, the Covid-19 pandemic will continue to inflict pain on the global...
ECB to Slow Asset Purchases via PEPP. Growth and Inflation Outlook Upgraded
Two important messages delivered at the ECB meetings are: 1) the end of the front-loading of PEPP asset purchases and 2) acknowledgement of a more persistent inflation pressure. The policy rates were all kept unchanged with the main refi rate,...
Weekly jobless claims post sharp drop to 310,000, another new pandemic low
First-time filings for unemployment claims in the U.S. dropped to 310,000 last week, easily the lowest of the Covid era and a significant step toward the pre-pandemic normal, the Labor Department reported Thursday. Claims had been expected to total 335,000...
ECB Research – Saving the Battle for December
At today’s meeting, ECB decided to slow its PEPP bond purchases to a ‘moderately lower pace of net asset purchases under the pandemic emergency purchase programme (PEPP) than in the previous two quarters.’ This slowdown was widely expected and probably...
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