GBP/USD – A Strong Barrier of Resistance
Can it break back into bullish territory? The dollar has come under pressure over the last couple of weeks as the economic data has necessitated a more dovish line from the Federal Reserve . The result is that, despite breaking...
WTI Oil Outlook: Stronger Than Expected Drop In Crude Inventories Inflated Oil Prices
The WTI regained traction and edged higher on Thursday after three-day drop was contained by converged 10/20DMA’s which formed bull-cross. Oil prices dropped on Wednesday after the OPEC+ group agreed to keep its policy of gradually phasing out record output...
Stock futures gain after sluggish start to September with key jobs data ahead
Traders on the floor of the New York Stock Exchange Source: The New York Stock Exchange U.S. stock futures gained slightly on Thursday after the S&P 500 finished the first trading session of the month near the flatline. Dow Jones...
USD/CAD Remains Near 1.2640 Level
On Wednesday, the US Dollar surged by 53 pips or 0.43% against the Canadian Dollar. The surge was stopped by the 200– hour simple moving average at 1.2635 during Wednesday’s trading session. If the resistance level formed by the 200–...
Yen Crosses Trading Up But Markets Stay Generally Cautious
While NASDAQ surged to new record high overnight, overall closes were mixed with DOW slightly down. Asia markets also lack a clear direction. Investors appear to remain cautious ahead of US non-farm payroll report tomorrow. So far, New Zealand and...
After All The Talk, OPEC+ To Stay The Course On Supply
With the Delta variant of the coronavirus causing slowdowns in many economies around the world, some were of the opinion that when OPEC+ met today, they would cut back their planned increase of 400,000 bpd that had been decided at...
Consumer protection group looks to increase transparency for small business loans
Ting Shen/Bloomberg via Getty Images The Consumer Financial Protection Bureau proposed a rule Wednesday to raise transparency around loans for small businesses. If finalized, the federal agency’s rule would require lenders to collect and report more data about credit applications...
Private payrolls increase by just 374,000 in August, far short of the 600,000 estimate, ADP says
U.S. companies created far fewer jobs than expected in August as the Covid resurgence coincided with cutbacks in hiring, according to a report Wednesday from payroll services firm ADP. Private payrolls rose just 374,000 for the month, well below the...
ADP Large Miss; But Does it Matter for NFP?
ADP reported their assessment of the private Employment Change for the month of August. The number of US jobs added to the economy was 374,000 vs and expectation of +613,000 and July’s downwardly revised print of +326,000. Not surprisingly, the...
EUR/USD Outlook: Euro Rallies after Downbeat US ADP Jobs Report
The Euro accelerate higher on Wednesday after soft US data deflated dollar. The ADP report showed that US private sector added 374K new jobs in August, compared to expectations for 613K and July’s figure, downwardly revised from 330K to 326K....
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